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 All about PRUDENTIAL & insurance updates!, any insurance related issue are welcome

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roystevenung
post Mar 26 2012, 08:33 PM

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QUOTE(phra09 @ Mar 23 2012, 12:43 PM)
I just got my Prudential policy from agent after approved for almost 5 months
He is my good friend's friend whom I know also. Looks like he got inyo new business and quite inactive at.he moment
He don't even pass yhe policy n explain to me. Instead he ask my friend pass to me.

I feel like surrender the policy and apply new one ... Is it advisable?

After go through the policy on my own, I think this is prulife ready with investment
Each mth pay rm180. I found out a lot things seem to be differ from what I told..

Can I change to another plan? Or readjust the amount allocation?

Can I also switch to new agent who can guide me thru my policy and my queries?

Thanks a lot
*
Getting a LIFE insurance is an extremely long term commitment. It may be longer than your housing loans and some will be as long as you're alive!

Before you surrender the policy, please do seek a second opinion on the policy that you've bought. It is never beneficial to cancel the policy. If you have a scanner, scan the page have the details of the coverage, the number of terms and email it to me, stevenung1971@gmail.com. I'll be more than happy to advice what you had done.

Remember, it is not your friend who will eventually pays for the hospitalization bill, but the insurance company. If your plan is good, just switch to another agent.

However when you transfer the policy to the new agent, he/she does not earn any commission (which is our bread & butter). We could only hope that you kesian us and recommend us to your friends, that is if you're satisfied with the newly appointed agent.

HTH,

Roy Steven Ung, 016-451 5957
Prudential Assurance (M) Bhd
KWSP Penang


Added on March 26, 2012, 9:01 pm
QUOTE(gizz119 @ Mar 12 2012, 10:40 AM)
I have a question want to ask the masters from the Prudential.

I have a Prudential Insurance that I bought 6 years ago. Currently I want to upgrade my plan to a better plan.

But I found myself difficult to communicate with my current Prudential agent that sold me the plan 6 years ago.

My situation happen like this.

I am a University graduate and working in financial industry for many years. So I have the knowledge and background in the financial products. My insurance agent not even graduate from SPM.

Last few days, I called up my agent saying that I want to upgrade my current plan.

First day, he came to my house. He spend 4 hours to talk, talk and talk. I found myself difficult to understand what is he talking about? Many of the things I already knew as I have friends who are agents from other Insurance Company. I told him what I want and what are my concern. But he told me his things and not straight away answer to my questions. At the end he told me this is his things and this is my things and ask me to sum it up. What is this???? He is unable to  answer to my questions and not paying attention to my concern.

My younger sister and mum also interested to buy the insurance from Prudential. But he came up a plan that is so expensive for both of them. And my new plan also very expensive. This make my younger sis not happy with it.

At the end, he say he need to come to my house the next day as his things not yet finish. So, the second day, he came again for 3 hours and continue his talking. I was a bit lost my patience and tell him plz listen to what are my concerns and what are my questions. But he still continue his talking. This really make me  rclxub.gif  rclxub.gif. At the end he only make me to have more doubts and more questions. Also it's seem that many things he is trying not to let me know. He seem not honest to me.  shakehead.gif  After so long he's talking, I not even know the name of the plan he is recommend to me.  shakehead.gif

If i am not satisfied with my current agent, can I know how many time do Prudential will allow me to change my agent? Can I change my agent until I am satisfied with it? Plz help. Thanks.
*
As you may already know older medical cards, no doubt is very good in the terms & conditions lacks the lifetime limit cover. The medical inflation is at 15% per annum currently and people having RM150K lifetime limit may find themselves medically board out should they are down with an severe illness / accident.

Hence it is always good to review the medical card every 5 years to curb the medical inflation. The medical upgrading you may opt to upgrade the room & board. Today at a private hospital, a 2 bedded room costs RM 150~ 180 per day and if you're carrying the RM100 plan, you may need to pay the difference should hospitalization occurs. However that is very minor as to compared to the lifetime limit increase.

If you're being offered to upgrade to Pruhealth not only it retains the old term & conditions it also gives the client up to 10 times the lifetime limit. As honest as I can be, the reason why you may be able to selected as still able to upgrade is because you have not claimed before. If you've claimed you may not be selected, but we could appeal if it is a minor claim.

However (this applies to any insurer), once you've made a major claim - sadly to say that not only you're not able to do any upgrading, you can never get another life insurance policy (even from other company).

You can change the servicing agent - it is your right to do so. Do note that policies after 6 years is no longer any commission and I'm sure many full time agents are more willing to help you get the transfer done because our business is a servicing related and is helping people.

We always take a look at your commitment, cash flow & most importantly your needs but most importantly providing you with sound information to make the right decision.

Give me a ring anytime, if you want to chat. Meeting up would be the best.

HTH

Roy Steven Ung,
H/P: 016-451 5957 email: stevenung1971@gmail.com
Prudential Assurance (M) Bhd
KWSP Penang






This post has been edited by roystevenung: Mar 26 2012, 09:01 PM
roystevenung
post Apr 4 2012, 08:18 AM

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QUOTE(kcyau @ Apr 3 2012, 03:35 PM)
What are the pro and con bewteen Pruhealth and PRUflexi Med? Still didnt seem much differ and Pruhealth got NCB which look better
*
I wouldn't call it pro/con as like Colaboy said, its up to individuals based on budget & needs. However the new PruFlexiMed do look interesting.

Here is a list of differences between PH & PFM.

1. Daily Room & Board choice:
- PH is able to choose which plan they want, 100, 150, 200, 300, 400
- PFM, No fixed plan, clients can choose based on their budget & needs,
Min 100, increment in the multiple of RM50, Max 400
Payments under R&B for PFM does not reduce the annual limit
If you stay in a lower R&B, we will pay you back the difference

2. Outpatient treatment benefit:
- PH Prehospitalization, 30 days before admission
- PFM Prehospitalization, 90 days before admission

3. Emergency Treatment for accidental injury
- PH, depending on the R&B selected, 1K, 1.5k, 2k, 3k, 4k
- PFM, 2% of the annual limit

4. Annual Limit
- PH, depending on the R&B selected, 50K, 62.5k, 75k, 100k, 150k
- PFM, min RM 50K, increments in multiples of RM 10K, max RM200k

5. Lifetime limit
- PH, up to 10x annual limit, if annual limit is RM 150K, lifetime limit = 1.5m
- PFM, up to 20x annual limit, if annual limit is RM 150K, lifetime limit = 3m

6. Co-Insurance
- PH, Inpatient 10%, Min RM 300, Max Rm 1k. Outpatient, 10%, Max Rm 2K. Deductible choice of RM 3K or RM 10k
- PFM, deductible of RM 0 (no co-insurance) or a Rm 300

7. No Claim Bonus
- PH, depending on the R&B selected, Rm 100, RM 150, RM 300, Rm 400, RM 500
- PH, able to attach PruAnnual Limit Waiver, if exceeds annual limit, client just pay RM 10% co-insurance on the balance
- PFM, Not available for NCB

8. Exclusions, PH & PFM no difference.

Other features not mentioned here are the same between PH & PFM.

Due to the No Co-Insurance / RM 300 co-insurance the premium for PFM is about 10% more than PH.

roystevenung
post Apr 4 2012, 09:06 AM

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QUOTE(kcyau @ Apr 4 2012, 09:01 AM)
what does PFM mean in "the increment in the multiple amount"?
*
It means the client can select whether they want to have a minimum annual limit of RM 50K or they can choose RM 60k, 70k... till RM 200K, irrespective if they have a RM 100 R&B! Now that's what we call flexibility. Nice right?

For PH the R&B you selected determines your annual and lifetime limit.
roystevenung
post Apr 10 2012, 04:35 PM

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QUOTE(kcyau @ Apr 10 2012, 02:35 PM)
I had checkout with 1 of the agent from prudential..

FlexiMed               
*Premium - RM300/month                                                                   
*Coverage - RM80,000 p.a / RM1.6 Mil lifetime             
*Room & Board - RM100
*Pay Zero when admited
*CI - RM150,000
*PA - RM50,000
*Death - RM150,000
*TDP - RM150,000

until 70 yr old, consider ok?
*
1. If you're okay to be staying at a RM 100/day room (6 bedded) or don't mind paying the difference in room rates, then RM 100 R/B is okay. We don't get admitted that often anyway.

2. I wouldn't term it as Pay Zero when admitted. Clients are normally required to put in a deposit, RM 300~500 (depending on hospital).

Do note that take home drugs, examination test & long term medications is not payable under the new policy contract.

3. If possible, top up the PA to RM200K as its cheap

Overall looks good.

roystevenung
post Apr 10 2012, 07:31 PM

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QUOTE(kcyau @ Apr 10 2012, 05:11 PM)
"Do note that take home drugs, examination test & long term medications is not payable under the new policy contract."

what u mean by that? meaning this new policy didnt cover long term medications compare to the old policy... eg. Pruhealth?
*
PruHealth is under the new policy contract since 2008 (or 2009 cant remember). The older PruMajorMed cards are the ones that does cover the long term medication, take home drugs.


Added on April 10, 2012, 7:33 pm
QUOTE(phra09 @ Mar 23 2012, 12:43 PM)
I just got my Prudential policy from agent after approved for almost 5 months
He is my good friend's friend whom I know also. Looks like he got inyo new business and quite inactive at.he moment
He don't even pass yhe policy n explain to me. Instead he ask my friend pass to me.

I feel like surrender the policy and apply new one ... Is it advisable?

After go through the policy on my own, I think this is prulife ready with investment
Each mth pay rm180. I found out a lot things seem to be differ from what I told..

Can I change to another plan? Or readjust the amount allocation?

Can I also switch to new agent who can guide me thru my policy and my queries?

Thanks a lot
*
Just wondering whether you've found another agent, if not, I'd be glad to help you understand the benefits / limitations of the plan. Don't worry, we are trained not to cancel people's policy :-)

This post has been edited by roystevenung: Apr 10 2012, 07:33 PM
roystevenung
post Apr 17 2012, 11:53 AM

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QUOTE(Jeffery WL @ Apr 17 2012, 09:57 AM)
need some help from agent here too. i also bad luck to have a very bad agent now want to change agent as well.

im 24 this year, non smoker, male, class 3 paying rm200 every month now

-plan to upgrade my PRUmajor med 4 150(cover untill 70 years old)

to pruhealth 150(cover untill age 80)
or
to pruhealth 100 (cover untill age80) + PRUmedic auto upgrade

wanted to know that how much that i need to add? and which one cheaper?or u have any better recommend?

-may i know what is weekly indemnity after ready my the policy feel like its dont do much feel like cancel it. Can i do that?

-recently brought a house rm500k so wanted to buy house loan insurance this agent quote me feel wired that how come the money that i can take back after 16 years for example the saving that i can take back will be getting lesser and lesser every year? Ask the agent he cant answer me? he said that because the premium will increase will i getting old that why after 16 years i get back less?? if like that at year 16 i better draw all the money out from the saving part right? keep inside there end up getting less money in the end. am i right? correct me if im wrong?

-if lets say i pass away at age 80 or 90 due to natural causes not because of 36ci or accident will my kids get the rm500k?
 
thanks
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1. In order for other agents to help you do the upgrade & to calculate how much difference the premium would be, you need to provide me with the policy number, IC & life assured name. We'll need to get our office to do a calculations on how much the premium would be. PM me your policy number or email your details to stevenung1971@gmail.com (confidentiality assured)

Also bear in mind that when we talk about upgrading, it is to increase/add on the benefits ONTO THE SAME POLICY. Your policy number will remain intact. You stand to lose if you get a new policy, along with the waiting period and all.

*To increase the coverage to age 80, the plan needs to be at least PruHealth 150 (150 R&B).*

We could run a comparison table for you. You decide whether you're comfortable with the added premium.

2. The class 3 is noted. However is there any changes to the health & smoking status since you got that PMM4? If yes that would reduce the premium, or increase the premium (if you are now smoking).

3. Weekly Indemnity pays a weekly benefit in the event of temporary disability due to accidental causes. One unit of Weekly Indemnity pays RM100 perweek for temporary total disability and RM50 per week for temporary partial disability, subject to a total of 104 weeks.

If your work is 'accident' prone, then my suggestion is that you keep it intact. In most cases accidents recovery needs at least 3-6 months to recover. If your company doesnt give you money, we give :-)

4. It'll depends on what MRTA that you're getting. Life insurance is about COVERAGE. Investment/savings is secondary. *Touchwood* if you were to 'kick the bucket' earlier, the bank will want to get back the loan of RM 500K, no matter what. Insurance policy is used to pay the loan. However, some MRTA insurance only covers death, not CI.

This means if down with CI, unable to work but still need to pay housing loan - ciak lat. If you have the budget, just buy a CI that is able to cover your housing loan and use that as guarantee to the bank. You'd need the CI anyway, hence kills two birds with one stone. CI with cash value would be pricier than the normal MRTA though.

This post has been edited by roystevenung: Apr 17 2012, 12:57 PM
roystevenung
post May 30 2012, 08:03 AM

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QUOTE(drew86 @ May 29 2012, 10:28 PM)
Hi I would just like to clarify something..is kidney dialysis also subject to co-insurance in PRUFlexiMed?  If it is, then doesn't it defeat the purpose of covering kidney dialysis when a dialysis session only costs ~RM300, and hence paying a RM300 co-insurance would be redundant.
*
Under the PruFlexiMed plan, you have the option to select RM 300 deductible or Zero Deductible (ZD). If you chose the RM 300 deductible, this means that the minimum that you need to pay is RM 300. If you choose the ZD, Prudential will absorb the bill. The deductibles will be reapplied after the 90 days per incident.

The premium for RM300 deductible is relatively cheaper as compared to the ZD.

The deductible is applied per event within the 90 days period from the last discharge date. Any subsequent events of the same diagnosis occurring after the 90 days period from the last discharge date will be subjected to another round of of deductible.

Example of a RM 300 Deductible for Kidney Dialysis
1st Kidney Dialysis: 20Feb ---> RM 300 is payable
2nd Kidney Dialysis: 20Mar ---> no deductible is being applied as it is still within the 90days from last event in Feb
3rd Kidney Dialysis: 20Apr ---> no deductible is being applied as it is still within the 90days from last event in Mar
4th Kidney Dialysis: 20May ---> no deductible is being applied as it is still within the 90days from last event in Apr
5th Kidney Dialysis: 20Oct ---> RM 300 is payable as it is after 90 days from the last event in May

Hope the above clarifies your doubts.




roystevenung
post May 30 2012, 03:03 PM

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QUOTE(kcgboyz @ May 30 2012, 02:14 PM)
which one is better?

prudential Assurance OR BSNprudential takaful?
*
In terms of claims, both are equally good.

For Muslim who wants Syariah compliant products we'd go for PruBSN Takaful. However do note that for Prudential Assurance we are also able to choose the Islamic fund, Dana Unggul, Dana Urus & Dana Aman.

Prudential Assurance has more range of products since it has been in Malaysia for 88 years.
roystevenung
post May 30 2012, 07:16 PM

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QUOTE(drew86 @ May 30 2012, 07:12 PM)
Thank you for your detailed explanation.  Hence in the case of dialysis being a permanent  requirement for a patient (i.e. needing 3 sessions per week), the RM300 co-insurance is only payable once every 90 days?  Please correct me if I am wrong.  Cheers! biggrin.gif
*
If you opt for the RM 300 deductible, and based on your example, yes you only need to pay Rm 300 per every 90days on the last event of the same incident.

If you choose zero deductible, you don't need to pay.
roystevenung
post Jun 11 2012, 08:08 AM

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QUOTE(PokkaDrinker @ Jun 10 2012, 08:59 PM)
im 24 this year, non smoker, male but I am hepatitis B carrier.
Am I still able to get any of the offered medical card ?
From my understand it's possible but any medical condition related to liver would be excluded.
*
You got Pm, best to take this discussion privately
roystevenung
post Jun 11 2012, 04:12 PM

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Prudential Assurance has more range of products (as compared to Prudential BSN) since it has been in Malaysia for 88 years, hence the agent is able to tailor the products to the clients needs better.

This post has been edited by roystevenung: Jun 11 2012, 04:14 PM
roystevenung
post Jun 12 2012, 11:29 AM

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QUOTE(Syd G @ Jun 12 2012, 11:18 AM)
Is there any Islamic term insurance for about 30 years? Or only conventional?
*
Hi Syd.

Yes we do have term insurance under PruBSN. Pls pm to me the following for a quote.

1. Name
2. Date of birth
3. Occupation
4. Gender (noted as female)
5. Coverage needed (Life/CI)
6. Estimated budget per month
7. Email address (to send the quote)

Thanks
roystevenung
post Jun 21 2012, 02:36 PM

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QUOTE(ks98 @ Jun 21 2012, 12:36 PM)
I'm looking for a life insurance with critical illness coverage, not too particular on the saving/investment. What i want is only coverage.

Monthly premium should <RM300. Age is 37, non-smoker, male. How much coverage would I get?
*
Hi Ks, please indicate your occupation as the coverage is also dependent on your job. Thanks
roystevenung
post Jun 21 2012, 03:03 PM

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For RM 350/mth, Life Rm300K and CI Rm300K. Claims from CI will not reduce the Life coverage.

Please Pm to me your email if you need a detail quote. Thanks
roystevenung
post Jul 30 2012, 08:50 AM

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QUOTE(mucklampir @ Jul 29 2012, 08:06 AM)
how to determine monthly commitment for edusaver? Is it based on accumulation target after certain years? Let say i wanted 100k after 17 years for my 1yr old child. Conservatively how much should i put in the edusaver monthly?
*
Term 17 years, Rm300*95% = Rm285/mth. Compound interest of 7% may get you Rm105473.

Compound interest of 9% may get you Rm126450.

The gross average annual return for our Prudential PRulink Equity fund since inception in 1997 till last year end is at 9%. Do note that past performance does not guarantees future returns.

The above calculation, DOES NOT take into account the inflation factor. The value of Rm 100k now is not worth the future value of Rm100k after 17 years.

If taking into account the inflation factor, if compounding interest is 4% maturity value would be Rm81045. If compounding interest is 6% maturity value would be Rm96488.

HTH

This post has been edited by roystevenung: Jul 30 2012, 08:29 PM
roystevenung
post Oct 13 2012, 10:24 AM

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QUOTE(umapathy @ Oct 12 2012, 09:48 PM)
Hai Pru Agents,

Why is Prudential policies very expensive? Medical card want to upgrade coverage to 80 years old need to pay extra same goes if u want for 90.

Other med cards is not like that.

Don't get offended i just want to know.....

Thanks
*
If you dont mind, which card gives you FREE upgrade to age 80/90? All medical card will increase, even the international health insurance.

Prudential prefers to charge upfront rather than only increase the premium when we get into our prime age.


Added on October 13, 2012, 10:31 am
QUOTE(HighRoller84 @ Oct 13 2012, 02:01 AM)
How much for outpatient medical card age 31, male.
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Sorry, but there is no card that only covers for outpatient. Most cards covers for both inpatient and outpatient. Secondly, if you are concerned with the premium cost, get a card that has co-insurance (cost sharing of the bill) or deductible rather than a card that has full claim.

If you need a quote do PM to me the following:

1. Smoking status
2. Occupation
3. Email address for sending the quote to.


Added on October 13, 2012, 10:40 am
QUOTE(umapathy @ Oct 12 2012, 08:56 PM)
I have a quaestion: Do kids need high Life or CI coverage?

As far as i know, only important people in the family whose income is for his family needs high coverage. As for kids, less Life coverage would be better since we don't depend on them for living.

Please advice.

Thanks
*
I do agree with this. The premium would be better off to be allocated to the medical rather than high life/CI. I always ask my client this "Do you want to earn money from your children?"

The excess premium can be invested in other areas that generates higher returns to look at education funds.

This post has been edited by roystevenung: Oct 13 2012, 10:40 AM
roystevenung
post Oct 13 2012, 03:26 PM

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QUOTE(john123x @ Oct 13 2012, 03:03 PM)
guys at predential. something i dont understand. need ur enquiries, thank you.

what is hospital daily room and board allowance?

I thought for medical card, the medical bills suppose with room charges can be claimed together, how does hospital daily room and board allowance this get involved?

or u mean insurance only pay for medical fee but not room charges?

and lastly why there are daily room and board allowance rm100, rm200, rm300, rm400?

isnt this room only? whats are the difference.......
*
The higher the Hospital R&B that you have you are entitled to stay at a better room, say a room with two bedded. If you stay at a higher R&B then you only need to pay for the difference. For example if you have a RM300 R&B but wants to stay at a single bedded and itll cost RM400/day, you need to pay Rm100 for each day you are hospitalized.

For PRUflexi med if you stay at a room lower than you are entitled for Prudential will reimburse the difference to you. Eg. If you have RM300 R&B but stays at RM200/day R&B, Prudential will reimburse RM100 for each day.

The room charges are billed together as part of the medical card facilities, unless you exceeded your benefit, of course.

The reason for various packaged R&B boils down to your budget and whether you are comfortable to share the room while recuperating at the hospital bed. For me, having someone to chat at the hospital bed helps. The charges for different room rates are actually decided by the hospital.

Think of it like you are going to Genting and at times without booking decided to stay a night there since you got free voucher to a twin sharing room. You could upgrade to a bigger room by paying the differences. laugh.gif
roystevenung
post Oct 14 2012, 12:09 PM

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QUOTE(john123x @ Oct 13 2012, 07:03 PM)
guys, i decided to ask question here, until i am ready.

1.PRUflexi med and pruhealth ,, which is more expensive?
2. PRUflexi med and pruhealth, do both of them provide med card?
3.
-PRUflexi med and pruhealth, why expiry age 70, but premium rate stated until age 60?
-expiry age 80, but premium rate stated until 70?
*
1. PRUflexi med is more expensive (approx. 10% more than PRUhealth) as PRUflexi med has options for full claim or RM300 deductible whereas PRUhealth is subjected to coinsunsurance :-

For PRUhealth, the co-insurance amount for in-patient are minimum RM300, 10% of the bill up to a maximum of RM 1K.

2. Both of them are medical riders that needs to be attached to the Investment Link Policy. PRUflexi med is the newer medical plan which we plan to offer to our existing Prudential customer as an upgrade from PRUhealth in the near future.

3. Both PRUhealth & PRUflexi med are able to be extended to age 80,90 & 100. It is much dependent on your budget. The higher the expiry age, the higher the premium is needed in order to support the policy.

If you got quotations from other companies as well, you'd notice the same trend in terms of the premium rate. Most only state for 30 years as its a system limitation from the quotation system. Furthermore trying to project anything longer than 30 years may not be that accurate.
roystevenung
post Oct 14 2012, 12:17 PM

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QUOTE(umapathy @ Oct 14 2012, 11:59 AM)
Hai Bro,

Of course new product is more expensive than the older ones.
PruFlexi Med is more expensive than PruHealth and both you can attach med card.

I'm having PruHealth and it's coverage is untik age 70. If you want coverage until age 80 you need to pay more.

Roy,

ING med card coverage expires at age 85. I don't have to pay extra.

Prduential vs ING..............which card is better?

Personally i  think Prudential is more expensive.

Please advice sifus.

Thanks
*
http://biz.thestar.com.my/news/story.asp?f...34&sec=business
roystevenung
post Oct 14 2012, 12:29 PM

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QUOTE(umapathy @ Oct 14 2012, 12:12 PM)
Hai Roy,

If i have Pruhealth and want to up grade to PruFlexi Med as  i don't want to pay the co-insurance, is it a good choice?

Will the premium increase or remain the same?

Please advice.

Thanks
*
If you are worried of the premium then you should take up the RM300 deductible option. Definitely it is better than PRUhealth as we don't have to be worried of the co-insurance. However, do expect additional premium.

In short, for plans which if you opt for no-coinsurance or zero deductible, the premium would be higher.

Deductible works differently from co-insurance. Do have your agent explain the details of how these two differ.

You can ask your agent to calculate for you the variance of the premium should you opt to upgrade to PRUflexi med. Do note that plans with co-insurance tends to be cheaper than plans without co-insurance in the long run.

But if we fell really sick and needs to use the medical card on a regular basis, PRUflexi med would be better since there is no co-insurance or it is capped at RM300.


Added on October 14, 2012, 12:31 pm
QUOTE(umapathy @ Oct 14 2012, 12:27 PM)
ING no longer good? What will happen to the existing customers?
*
It would be unfair for us to comment on something which we have no knowledge about. Please check with your agent/nearest ING branch.

This post has been edited by roystevenung: Oct 14 2012, 12:31 PM

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