Hi guys,

I'm planning to cancel my Prudential Assurance cause I have not enough budget for my monthly expense.
I'm quite noob at the insurance plan or finace things. So wanna ask you guys opinion here.

Currently I'm paying RM300 for myself, RM300 for my wife and RM200 for my son. Total up monthly need to pay RM800 for my family.
I paid the plan only 2 years like that. But I really cannot afford that much, and I did'nt hope any money return too. Should I cancel my plan?

Do share name of the respective plans so we can know what type(s) of plans u purchased.

But, as with most insurances, u r almost certain to lose a lot of money if u cancel within first few years.

I try to list out my policy. You try help me check it worth or not.

For me and my wife:

Fund Invested: Prulink equity fund (PEF)

Name of Plan                     ---                  Terms (Years)  --- Sum Assured (RM)  --- Premium (RM)

Basic Unit Account
PRUlink assurance plan     ---                       75      ---            RM 200,000            ---       99.22
Crisis Shield                      ---                      75      ---             RM 200,000           ---        58.00
Accidental Death & Disablement  ---             45      ---            RM 100,000           ---        13.00

Protection Unit Account
Accidental Medical Reimbursement       ---       45          ---           2,000              ---         2.75
Weekly Indemnity                             ---         45          ---           2 Units            ---         6.88
PRUhealth                          ---                       45            ---          PHL 150          ---         67.39
PRUmed                                ---                    45            ---         4 Units             ---       33.32
Enhanced PRUpayor basic           ---                75            ---        3,600 p.a.        ---        19.44
For my son

Fund Invested: Prulink equity fund (PEF)

Name of Plan               ---                            Terms (Years) ---  Sum Assured (RM) ---  Premium (RM)

Basic Unit Account
PRUmy Child                                ---             99       ---              100,000         ---          78.50
Crisis Shield                                    ---          99       ---              100,000          ---         19.00
Accidental Death & Disablement         ---         99        ---             100,000           ---        13.00

Protection Unit Account
Accidental Medical Reimbursement    ---          69           ---          2,000               ---        2.75
PRUhealth                                ---                 69            ---         PHL 100           ---         50.15
PRUmed                                     ---               69            ---         2 Units             ---        13.32
Enhanced PRUpayor basic             ---              99            ---         2,400 p.a.         ---        6.96
PRUparent double payor basic        ---             24           -- -         2,400 p.a.          ---       16.32

You can reduce you & wife + son policy coverage for Basic Sum assured & Crisis Shiled to half
from 200K ==>100K (you & wife), 100K ==>50K (son)
A rough calculation you will reduce your monthly premium by RM205.97

& also remove the rider for Prumed & Weekly Indemnity
A rough calculation you will reduce your monthly premium by RM93.72

So if you are fine for paying RM500 a month for the whole family?? Get your agent do it for you 
The medical card is very important & also your basic sum coverage as your family is depending for you.
Think about upgrade it in the future if you have the budget. 

I think your agent already con u from the start asking u to buy high premium insurance..

They should be more responsible and advice people base on their income. Not sell the highest premium t hey can to anyone. In the end they are the one making the customers suffer

beside reducing PRUlink assurance plan & Crisis Shield. Any others need to adjust?
Is the Protection Unit Account correct? especially the Medic card, Most important 1.

Actually PA is not expensive. If you have some extra money to go for it.. why not? Since now being on the road is 10 times more dangerous than 5 years ago. It can be as low as RM110 per year with RM 100k coverage and more.

Medical Card, I have to disagree.. You can't wait till you resign and left with nothing only start buying.
Remember it is always subject to underwriting.
You don't have to buy any high package, just something sufficient for yourself will do and subject to review every 5 year to see the current hike in medical fees can sustain you in the 30 years later.

Hospital Income
It is all on your choice
I will always remember is, buying insurance is good but should not over burden yourself and do not take words from outside agents such as you can get such returns or such returns. Insurance is insurance and is never a finance.

beside reducing PRUlink assurance plan & Crisis Shield. Any others need to adjust?
Is the Protection Unit Account correct? especially the Medic card, Most important 1.
And I'm worry the return of the money too since the agent didnt explain very clear too me.

Fund Invested: Prulink equity fund (PEF)

Name of Plan                              ---  Terms (Years)  ---  Sum Assured (RM)  ---  Premium (RM)

Basic Unit Account
PRUlink assurance plan                ---          75          ---          200,000        ---        99.22
Crisis Shield                                ---          75          ---          200,000          ---        58.00
Accidental Death & Disablement    ---          45          ---          100,000          ---        13.00

Protection Unit Account
Accidental Medical Reimbursement  ---        45          ---          2,000            ---        2.75
Weekly Indemnity                          ---        45          ---          2 Units            ---        6.88
PRUhealth                                      ---        45          ---          PHL 150          ---        67.39
PRUmed                                        ---        45          ---          4 Units            ---        33.32
Enhanced PRUpayor basic              ---        75          ---          3,600 p.a.        ---      19.44

Fund Invested: Prulink equity fund (PEF)

Name of Plan                              ---  Terms (Years)  ---  Sum Assured (RM)  ---  Premium (RM)

Basic Unit Account
PRUlink assurance plan                ---          75          ---          200,000        ---        99.22
Crisis Shield                                ---          75          ---          200,000          ---        58.00
Accidental Death & Disablement    ---          45          ---          100,000          ---        13.00

Protection Unit Account
Accidental Medical Reimbursement  ---        45          ---          2,000            ---        2.75
Weekly Indemnity                          ---        45          ---          2 Units            ---        6.88
PRUhealth                                      ---        45          ---          PHL 150          ---        67.39
PRUmed                                        ---        45          ---          4 Units            ---        33.32

Enhanced PRUpayor basic              ---        75          ---          3,600 p.a.        ---      19.44

Which one is showing medical card and hospital income i bought?
how about the investment, Prulink equity fund, safe?

PRUmed pays the benefits below in the event of hospitalisation due to illness or injury before age 70. One unit of PRUmed pays :
1. RM50 per day (up to 100 days in a year) for hospital confinement.
2. RM100 per day (up to 30 days in a year) while confined to an intensive care unit, and
3. a lump sum up to RM2,500 (up to RM12,500 in a year) for a surgical procedure, depending on its severity rating.

PRUhealth is subjected to 10% co-insurance (min RM300, max RM1K, max RM2K for outpatient) hence most agents would add hospital income to help reduce the burden of the co-insurance.

Even though the plan is Investment Linked Policy (ILP) and generates cash value over time it is more towards protection.

Generally always bear in mind that for insurance you buy it for its protection value rather than its investment value. It does generate cash value over time, preferably over a period of 20 years to see the cash value grows.

Always remember, that cash values are _not_ meant to be withdrawn (even though you are able to in times of need). Your medical card term is for another 45 years (until age 70). Assuming that you retire at age 55 (no income), that's easily another 15 years of not paying the premium. Also, the insurance charge will go up by age irrespective of when you get it.

Excerpt from our proposal:

WARNING
YOUR INSURANCE CHARGES WILL INCREASE AS YOU GET OLDER. IN THE LATER YEARS, IT IS POSSIBLE THAT THE
ACCUMULATED FUND VALUE IS NOT ENOUGH TO PAY FOR YOUR INSURANCE CHARGES DUE TO POOR INVESTMENT RETURNS,
WHICH WILL RESULT IN YOUR POLICY BEING CANCELLED. YOU MAY NEED TO INCREASE YOUR PREMIUMS OR REDUCE THE LEVEL
OF INSURANCE PROTECTION, IF YOU WANT TO MAINTAIN YOUR POLICY.

Hi roy,
I thought PRUmed is the older type of conventional medical insurance that tie with Prudential Endowment policy as a rider while Pruhealth is a rider of ILP.
As per TS case, is it possible to cancel PRUmed since its benefit/courage is also covered (or better) under Pruhealth

hi need advice here: which one should cut, every year 5k plus is to much. thanks.

basic plan
premier lady plus rm100k: rm3643

riders / rider
personal accident rm100k: rm175
critical illness rider rm100k: rm560
medglobal iv 150 rm150: rm565.44
crtical illness waiver premium (wp) rm5479.30per yearly: rm595.60