There are some banks are doing insurance for car loan, I have a few clients who have bought them for the sake of protection. Single contribution of about RM212 and you are get covered for the value of the car, I think it's not bad

Yes, for non-reimbursement basis insurance like Life/TPD/36CI/PA, you will be able to claim from multiple companies. For reimbursement basis insurance like medical card, you will only be able to claim up to the receipt amount.

Both also pay in ringgit.
I think both are pretty compatible.

AIA will say AIA good.
GE will say GE good.

How leh?

Well, at the time I posted the question, GE is still without "no lifetime limit". So to me AIA has the upper hand. But now our forum friend PM-ed me that GE has it. I'm quite confused as their website is still without it.

thanks alot. how many types of insurance there are? i only have my homes covered by mrta.

If anything happened on the car, car insurance is taking care of itself.

While, I don't see a need to cover the "value of the car", as it is a depreciation asset to start with.

While for the purpose of cover yourself over the car value (just in case died, then nobody pay off the car loan), I don't see there is a need either.
You died, nobody drive the car, nor bank can chase you the car loan monthly repayment anymore.

Pros and cons... Like wong sifu said, this kind of insurance, simple straightforward. Skip the agent, save some commission.

Also, no servicing agent but there's still customer seevice. They are supposed to help.

AIA and GE medical policies now are very very similar.
Except
1. GE's base plan has a lifetime limit, which is 10 times the base plan's annual limit.
2. AIA's Outpatient Cancer Treatment & Kidney Dialysis (OCTKD) is on top of the annual limit; while GE's OCTKD is included in the annual limit.

Either one you choose also pay in ringgit. The same limitations set by BNM applies.
A good product is a good product, anyone will tell you they are good products.
The only difference is really the agents making the difference on how much to buy, how you buy it. Because ultimately insurance company only pay. And they pay the same doctors in the same hospitals, giving you the same procedures with the same equipment.
The healthcare providers are the hospitals, at when things get complicated, the servicing agents that make the difference in the whole experience.

So as long as you have a medical/hospital insurance coverage that is relevant to the costs today and from here moving forward, coming from whichever company it really doesn't matter.
What matters is the agent.

There are fee-based financial planners.
There are commission agents like me.
There are new agents join to test water wan.
There are agents who will tell you "Mr. So&so, we can sign on the bed also" <--- this kind also have
There are also agents who doesn't really know what they are selling wan.

Like the society - macam-macam ada.

Indeed.
Can you tell me more on the dialysis coverage? Do you mean AIA will have a certain amount allocated for yearly dialysis subsidy while not affecting the yearly limit? How much is the dialysis estimated cost?

Can you tell me more on the dialysis coverage?
Yes, I can. The dialysis coverage is bundled together with cancer treatment. In the case of co-morbidity, both the cancer treatment and dialysis sessions will be claimed from the same allocation (750k - 1.95mil depending on your selected plan).
These are post-hospitalization. Meaning to say:
John Doe was diagnosed for kidney failure/cancer, and requires surgery.
John Doe stays a few days for observation and recovery, and was discharged.
The surgical procedure and duration of stay will be claimed from his yearly limit.

Post-surgery, John Doe returns for his chemotherapy/dialysis session (as instructed by the doctor).
After the session, John Doe goes home the same day, without being admitted as in-patient because he was just there for the chemotherapy/dialysis.
John Doe pays first, take the receipt and file for a claim with his agent/insurance company service branch.
These sessions will be deducted from the lifetime limit of the Outpatient Cancer Treatment & Kidney Dialysis limit (750k - 1.95mil depending on your selected plan).


Do you mean AIA will have a certain amount allocated for yearly dialysis subsidy while not affecting the yearly limit?
Yes, AIA has a separate allocation for Dialysis & Cancer Treatments, while not affecting the yearly limit.

AIA's newest medical plan has a lifetime limit allocated for Outpatient Cancer Treatment (chemo among others) and Kidney Dialysis.
Depending on the selected plan, it ranges from 750k - 1.95mil (A-Plus Med + A-Plus Med Booster).
The Outpatient Cancer Treatment and Kidney Dialysis do not affect the annual limit.

More details here:
A-Plus Med
A-Plus Med Booster


How much is the dialysis estimated cost?
Here is a news article detailing the costs and subsidies by gov:
http://www.thestar.com.my/News/Nation/2013...s-not-approved/

Another article that details the costs among other woes of dialysis patients.
http://www.thestar.com.my/story/?file=%2f2...alth%2f20906482

This post has been edited by JIUHWEI: Oct 20 2015, 04:03 PM

Whole life Participating - Protecting you for whole life and you are paying the premium whole life, basically participating mean the company will declare cash bonus to your policy. Customizeable with Life/TPD to 36 Critical Illness to Early stage 36 Critical Illness.
Whole life Non Participating - Protecting you for whole life and you are paying the premium whole life, basically non-participating mean the company will not declare cash bonus to your policy. Customizeable with Life/TPD to 36 Critical Illness to Early stage 36 Critical Illness.
Mortgage Reducing Term Assurance - Single premium life coverage for debt cancellation purpose and usually is finance into loan.
Endowment - This is known as saving plan, pay the premium for certain year and the policy will mature over the certain year. This kind of policy tend to have high cash bonus and maturity benefit but with low protection.
Term - Protecting you for a certain period and you are paying the premium for a certain period, basically term is a non participating plan it means the company will not declare cash bonus to your policy. Customizeable with Life/TPD to 36 Critical Illness to Early stage 36 Critical Illness.
Investment linked - It's running on "investment unit" and insurance chargers, return are non guaranteed but usually are the cheapest solution. Highly customizeable plan with life/TPD/36CI/Early 36 CI and medical card.

Confuse? You may talk to an insurance agent, he will review your existing policy and your needs

It's depend on the individual financial planning because some of the family do plan to leave their vehicle to their family member. When one's kick the bucket, some family member only own a single car and shared by the whole family and they wish their car to be able to inherit and live their life with minimum amount of insurance premium which they can afford currently.

This post has been edited by ExpZero: Oct 21 2015, 12:44 PM

Any insurance company providing insurance for the whole family?
I am not sure what's it called, insuran berkelompok (??)

any idea?

AIA has medical and personal accident plans (takaful as well!) for the whole family (husband + wife + up to 4 kids)!

To insure at the value of the car is pretty subjective.

On insuring the "value of the car"
You can insure it at "market value" or "agreed value".

Market Value
The sum insured follows the current market value of the car.
For example, in January, my car is worth 100k. By December it is worth 80k.
So I insure my car in January, with a market value at 100k. Come December, I went from hero to zero really fast, and suffered a total loss.
Car insurance pay me: 80k - which is the market value of the car in December.

Agreed Value
The sum insured may be slightly higher than the market value, but it remains the same value for the entire policy year.
For example, same scenario as above, total loss in December.
Car insurance pay me: 100k - which was the agreed value.

For the purpose cover self over the car value... If we're really pinching it, there's no point to tighten your belts to afford another 100k of life insurance.
Instead of focusing solely on the perspective of covering liabilities, maybe consider the surplus coverage as a means of wealth creation for the spouse and kids. After all, 100k can take care of the car's value now. But some years down the road, the car value depreciates, our loan is slowly being paid off as well. The difference between 100k sum insured and 50k(assumption) car value is 50k. The situation of being over-insured by 50k on your life, is it REALLY something to go bonkers about?

Like I said, if you're gna force ourselves to afford to cover against our car value, don't do it at all.
If as a result of affording the installments, you will have to tighten your belt, maybe it is not the right time for the car yet.

tldr for many.

I have a simplified version, it is not necessity, but if one extra much money and opt to it, it is one choice.

There are many other more important area that the money can be used for, instead paying this kind of premium.

Do you think agreed value is necessary or market value is enough?

Since GE has lifetime limit and AIA has no such limit , and GE OCTKD is part of the annual limit, while AIA OCTKD is on top of the annual limit, I suppose AIA premium is higher, assuming the same insured amount for both insurance companies?

Actually GE now has the no lifetime limit, which mean is unlimited. Every year will renew your limit. That's so far I know about it.

I'm not sure with AIA, but with the background of GE, I think I trusted GE more since its part of OCBC. I'm a GE Agent btw.
Gentle reminder, do ask for the proper quotation from the agent and study it. Don't believe what they show you as they only show you what they want you to know.

Sorry if any GE out there but always remember customer is our top priority

Certainly, everything come with a cost.
Most importantly, get the best plan while we still healthy and strong, not regret when during claim and not enough Medical claim limit.

Allianz now with No Overall Lifetime limit and over RM1mil of annual limit plus cover for second medical opinion.
Most Importantly the Outpatient Cancer Treatment & Kidney Dialysis (OCTKD) are together with the annual limit not separated as AIA.

On medical/hospital insurance, yes, AIA premium does sound like it has to be very much higher.
However it is priced very competitively against not only GE, but other insurers as well.

Separated from the annual limit is better, right?