You can ask questions... i can help to answer to a certain extent.

Disclaimer: i'm not agent, i'm not staff... but i know.

if i'm not mistaken it's Room&Board 200 and annual limit 120k, lifetime limit 2.4mil.

relatively there are higher ones out there, but one must be wary of the price and other features. some companies offer coverage up to age 80/90 only. whereas HLA offers up to 100

This post has been edited by adele123: Jul 10 2015, 06:21 PM

term insurance i suggest this... cause of convenience...

https://uforlife.com.my/

for standalone medical card with deductible that i know even exist is HLA and AXA (under general insurance). you can google it or get from their website. HLA Major Medi and AXA smartcare optimum.

going direct with axa general should give you 15% savings due to no commission.

have fun for your research.

Yes. you are right there. because they offer Medical A + B. so without B, the annual limit cannot be that high and B comes with a cost. Everything comes with a price. though yes, HLA is definitely less attractive.

the appropriate amount should not be base on gross salary. it should be based on what you need and how much you can fork out each month for insurance. agents will tell you a certain percentage as a rule of thumb, but my standpoint is not to buy what is not necessary. if no money to eat and no savings in the bank account, why bother to buy insurance?

i hope it doesn't come to that day where the annual limit is actually a concern. well, that's why Great Eastern came up with this plan that works like a 'top up'.

Purchasing insurance ‘via’ bank and agent is in a way not very different. It’s like buying apple from the fruit shop or the supermarket. Different seller but same distributor. Insurance still has to be underwritten by insurance companies. Just like the fruit still has to come from the orchard. Of course, the service provided by the bank sales person and a full time agent is very different. Else insurance is insurance, apple is still apple.

If you don’t buy through (note it’s not ‘from’) bank, then you can buy from whatever company you think is suitable.

As the name calls it Personal Accident, it only provides coverage in the event of an accident. It is quite normal that PA only cover up to age 75 (I’ve seen 70 or 80). The coverage is therefore, limited.

For someone around 68 and with both kids already earning money, I don’t see much need for life insurance unless there’s debt or want to leave behind money to cover funeral expenses which depends if you can get any contribution from friends and family. And any insurance purchased at this age is also not worth it anyway. If I’m 68, my worry is probably medical expenses. But again, at this age, it will be expensive, PROVIDED if the insurance company accepts you in the first place.

based on the information you have provided, i don't even know what sort of insurance savings plan you are talking about.

like any unit trust, fund management, even your own personal fund management, one only has the historical records. no one can guarantee the future. having said that, insurance companies and any unit trust companies, etc... are smart enough to know continuing good fund performance will be beneficial for their business.

actually you can't say investment-linked has 'tipu helah', investment-linked insurance plan is actually very transparent about what charges they take from you and what goes to where. having said that, it is also common that customers have been misled since those transparent documents often do not reach the hands of customers.

understand that investment-linked insurance plan is essentially insurance plan with investment. if you are looking for pure investments, insurance product is definitely not what you need. there's a cost in providing 'insurance'. understand what you buy, understand that insurance is a long-term commitment, pre-mature termination is definitely not to your advantage.

please do not listen to the other guy BS-ing.

1) Health-related insurance premium rates has been and always will be non-guaranteed. Just not viable.

2) Life insurance premium can be guaranteed and is usually guaranteed.

3) the product you saw on HLA is a short-term (20 years is 'short' in insurance industry) product that gives you allowance (150 per day) if hospitalised. it doesn't cover your medical bill.

This post has been edited by adele123: Jul 20 2015, 04:24 PM

Rightfully... ALL insurance companies should honor the claim. what i understand that yes, you only have 1 copy of the original receipt but there is/should be an understanding within the claims people in the insurance companies that customers might claim from 2 companies, under some circumstances.

1) Yes, if cost of insurance or insurance charges increases, less of your money goes into investment. this is not something agents tell customers.

2) ANY insurance plan whether investment-linked or not, it is NEVER to your advantage to terminate prematurely. as you said, why not just go for the investment product? when you terminate a current policy, get a new one, agents get commission from the new ones. although companies actually penalise agents for advising customers in doing, agents still practise this.

Cash Value is what you will get if you surrender (terminate). Paid up value is what your current insurance coverage will be if you opt for not paying premium but still continuing your insurance coverage.

Assume your insurance coverage is RM50,000. Assume in 20 years time, you have no money to pay premium and you can opt to surrender or to do reduced paid up.

If you surrender you get 172 x 50 = RM8,600.

If you opt for reduced paid up, your initial insurance coverage will be reduced from the original RM50k to 587 x 50 = RM29,350

Those products do not come with cash bonuses etc... it's not the same thing.

insurance products without savings/other survival benefit is of course cheaper.

Actually I would say, who would need any life coverage unless you have dependents?

This that you heard from BFM which I also saw on BFM website. It is just another life insurance. The obvious difference being buying online.

A few corrections:
1) Anyone can buy online
While true, anyone can try to buy online but the questions that they will ask before purchase (also known as underwriting) will filter out the real unhealthy ones, who really cannot buy.

2) Such a life coverage...
Is not very different than other life insurance that you buy through agents. The difference is you can't add other things like your medical card or your 36 critical illness benefit, etc. Which serves its purpose depending on what you need for. Example pointed out by another forummer, he opt for this term life instead of going for MRTA, etc… because the money given can be used by the family either to offset the housing loan, or for them to use it anyway they deem suitable.

3) New standalone life insurance policy
Life insurance has always been ‘standalone’. What most people has is this ‘standalone’ and then add in medical and/or other health-related benefits

hope this clarifies something.

1. it is indeed as you have said, no different in buying through an agent. insurance go by 'utmost good faith'. i'm not sure on the operation/procedure but most non-disclosure should end up in policy contract being void.

2. The new framework or change you mention whereby Bank Negara allows remove commission limit for agents if insurance companies provide insurance product that is at the same time "commission free". not something to be implemented in a short period of time. it was proposed some time back, which needs feedback etc, before it can be implemented.

3. not any different when the bank staff sell house loan and also sell credit card at the same time. like mcdonald selling burgers with fries and drinks and not just the burger alone. just the way of how businesses try to get more money from each customer... like any other industry in this world.

This post has been edited by adele123: Aug 6 2015, 11:10 AM

General rule of thumb is usually the return is best when one pays the premium every year, until you no longer have to pay, as determined your insurance plan. so, i usually discourage using cash dividend/bonus to pay off the premium, unless one really has problem paying for it.

you can go to branch office, and ask what is the policy all about. but even customer service personnel was still in school when the plan was launched then. they will try their best to answer you, else you need to get someone financial savvy to explain the t&c to you.

Disclaimer: this is ignoring opportunity cost, whereby you have better places for your money to grow.

apa maksud anda? saya tak faham.

if this visionplus is a par endowment product (or in layman endowment savings plan), by cashing out the Cash Dividend to pay for premium, one must consider the customer loses to opportunity to accumulate the cash dividend with the insurance company.

so is it just the insurance coverage only that will matter?

What you mean 'does not cover the cost of the organ'? Cannot 'buy' an organ.

I'm not AIA agent and i'm not AIA staff but inside AIA contract it says:



i think that answers your question?

PS: i think most insurance companies have that clause.

This post has been edited by adele123: Sep 2 2015, 09:08 AM

you can clarify with the AIA agent. under normal circumstances, all insurance company do offer the payor benefit.

Both AIA and GE should be cashless medical card and i believe not what you said is pay first claim later.

I agree with your analysis. cost saving. but do bear in mind what are your insurance planning for your own in future, once you retire, but still have time to plan that later. on

also i don't think getting the deductible plan coming from single insurance provider will necessary mean be able to maintain cashless admission if say you exceeded your company's limit. you should be wary of this. after all, to the 3rd party administrator, it's still two different insurance policy.