Get the product disclosure sheet.

Are they proposing SmartProtect Essential ILP?

This post has been edited by davidlow7: Jul 5 2012, 12:48 AM

Let's us discuss here about co-insurance

Some companies say that although co-insurance is not included in their plan, but the insurance charges shall also be higher.

I supposed we need to have a proposal to carefully study the details and decide.

Every insurance companies are good and they have their plus points. End of the day it is the buyers find some more suitable to their needs.

I once talked to my insurance agent before, that if there is any disease that require you to seek medical treatment on a frequent basis then co-insurance will be pain in the ass since it is counted based on per visit.

Maybe we can list out what are the possible diseases that require you to seek medical treatment on a frequent basis and the frequent is a long term or short term. Some frequent basis, perhaps bi-weekly but maximum 7 times then you are doomed to recover or "bye-bye".

I think we need to list out the type of diseases and how frequent + how long.

Secondly, we can then compare on the insurance charges especially at later year.

Buyers can then do their own judgement to see.


My personal view is...
After all, a high RM300/500 co-insurance may appear to be scary but if we look into a longer term, it may not be so bad.

Still a B&W comparison speaks louder than everything.

I am not insurance agent but I do find having NO co-insurance certainly is an advantage, but neither having co-insurance means disadvantage as well.

I personally already have 1 with co-insurance but will for sure go with 1 without co-insurance if I am going for my 2nd medical card and will use any of them base on the current circumstances.

Although I hope I have a good long life and won't need using them so maybe at later years when I am old, I can choose to surrender 1 of them and get back a decent cash returns. If it does break even during that time or at least close to it, then I know I made a good planning to myself for being protected at that time without even the need of paying.

I hope your insurance agents are sharing to you whatever you need to know such as what can be claimed using medical card and what cannot, what are the necessary riders ...

However all these will really depends on the quality of agent where I have met a lot, either they apply fear factor or they just draft up a simple one (as they try not to confuse you in order to close your sales fast), so problem will be later on for you to face but thankfully for ILP being a flexible product, however still subject to underwriting if you were to increase protection or so on.

So make sure you really know what you are buying. But LYN is always here.

My 2 cents.

This post has been edited by davidlow7: Jul 8 2012, 07:23 PM

Thanks..

You made a very good point on kidney dialysis for life and I really see the importance of without co-insurance/

I was trying to figure out what kind of issue require frequent treatment that co-insurance can kill you off really.

Every new thread even in an existing thread, there will be agent also PM to get sales. This is their job as an insurance agent and TS will usually aware of this when he decided to query his issue in a public forum like LYN.

End of the day if the agent is doing a good job and providing a good service to the client, I think this is not really a bad thing. Either way, TS has his rights to exercise to either reject or accept.

This post has been edited by davidlow7: Jul 10 2012, 10:56 AM