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 Insurance Talk V2, Anything and everything about insurance

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adele123
post Nov 18 2015, 01:25 PM

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QUOTE(dunder @ Nov 18 2015, 11:56 AM)
Seeing alot of uforlife advertisement about their insurance recently.. As stated at the insurance adv. there stated as low as RM9.85 per month. Mind to find out more, what is different within this insurance and others? how come so cheap? I am kinna interested to purchase this insurance plan
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Like everything else... when they say from RM9.85, that's only the minimum... like any insurance it depends on your age, smoker status, gender, etc...

for the cost, i've been mentioning this many times, you can go to uforlife website, play around and the cost will be displayed. so, quite transparent.

basically what they are selling is just term life insurance... (to be technical, yearly renewable term) which pays an amount if one dies (or kena something the insurance industry call TPD, total and permanent disability).

if you are looking for say medical card or something, or coverage for 36 Critical illness, then this is not it la.

a previous sifu in this forum bought as a protection to cover his house loan or something.
adele123
post Nov 18 2015, 08:19 PM

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QUOTE(dunder @ Nov 18 2015, 05:20 PM)
Oh, so this is only pure life insurance, but I found that they actually do have the Critical illness and the PA cover. Btw, what do you mean by term life and the yearly renewable term? Any different from this uforlife and other life insurances?  I just did a quotation at the uforlife official site. Find that it's quite a lot of questions to fill. Currently still considering whether to buy or not. The premium is acceptable, but I am confused with this term life and the yearly renewable term.
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What this uforlife selling on their website is yearly renewable term life insurance. The premium increases as you grow older. These kind of insurance does not have cash value.

The usual traditional term life insurance has fixed premiun and has some, though very little cash value.

To get a quote is quick but to actually buy, you will need to answer health questions. Similarly buying the non-online way, there will be a form that has many questions to answer.

The premium is acceptable and doesn't cost much. But the question here is, what insurance do you really need?
adele123
post Nov 19 2015, 02:44 PM

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QUOTE(iextra81 @ Nov 19 2015, 12:06 PM)
Actually I am in the mid to sign up for uforlife insurance. I have some sort of trouble while signing up for this insurance.
1. Do I need to do a medical check up before purchase this insurance?
2. Some question - for example - do you have high blood pressure, cholesterol, thyroid problem etc.. in fact, i am not really sure, whether I am infect with this problem.. how should I answer? all NO? what happen, if I have high blood pressure now and I tell them I am not. Will I in trouble?
3. So i got question need help from uforlife, any online help?
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1. i'm not very sure. should be no...
2. this is not any different from buying insurance through agent. pretty much they will ask if you ever had this disease, etc...

to add on, out of curiousity, i had a look at the question... the question is 'have you ever been diagnosed with high blood pressure'. then no lo.

anyway, not being so particular or anything. you know you got, then yes lo. you don't know you got, then no lo.

3. there's a live chat, if i'm not mistaken. go ask la biggrin.gif
adele123
post Nov 20 2015, 06:21 PM

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QUOTE(rapple @ Nov 20 2015, 05:06 PM)
Question: If i pay half yearly for GE ILP Medical plan, when can i get the statement for income tax purpose? Next year?

EDIT: Why i ask? Because i want to know the actual amount for tax relief.
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Next year, definitely (before end of april). exact period will need GE ppl to reply here.

QUOTE(BacktoBasics @ Nov 20 2015, 04:19 PM)
I am sort of new to the working society. Is it necessary to buy medical insurance? I am 26 yr old.

What about life insurance? Is it better off to opt for life insurance rather than term insurance?
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it's not truly necessary but...

1) does your employer provide hospitalisation benefit? if no, see Q2
2) if touch wood ended up in hospital, can you afford the bill? if no, can you afford to buy insurance and also at the same time, have some savings? because like a sifu here said, no point affording all the insurance in the world and not having some money in your bank account.


This post has been edited by adele123: Nov 20 2015, 06:30 PM
adele123
post Nov 23 2015, 11:03 AM

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QUOTE(henshin7 @ Nov 20 2015, 10:07 PM)
Hi,

I paid RM300 for my insurance now. Its investment linked and I have had it for a year.
During this year, I've been diagnosed with endometriosis which is a specified illness under the policy. 
I want to continue study for 2 years and thinking of surrender the policy and bought a cheaper standalone policy which is just RM60-80 for my age because of no scholarship, allowance,  etc during the study.

Is this a right move for me to take?

Looking for advice, thanks.
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While i will not advice you one way another... i like to point out that aside from cancelling your existing policy, you can opt to reduce your premium, your basic sum assured, your other less important riders to reduce your cost.

the idea of investment-linked plan is that there's a flexibility that allows you to make such variations. can be cut down to 50% of original premium or even more.
adele123
post Nov 27 2015, 02:39 PM

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QUOTE(BacktoBasics @ Nov 27 2015, 01:38 PM)
so even if the plan is signed for 200k life insurance. I already commit to it for one year. I can still change the coverage? and installements?
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2.6k buy 300 insurance... really 'over-buy'

why yes, you may be getting more...

but at this point, more insurance isn't what you need... more money to channel to savings seems more right.

likely your policy is an investment-linked, so can try to adjust to a more comfortable level, in the range of 150 - 200...
adele123
post Dec 18 2015, 01:25 PM

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QUOTE(baymax7 @ Dec 17 2015, 10:42 PM)
Outpatient Cancer Treatment       
Outpatient Kidney Dialysis Treatment

PRUValue Med
As Charged (Up to 1.5 times of the chosen Med Value Point per lifetime. MVP option 1.0/1.5/2.0 Million)

Great Eastern Smart Extender
As Charged (No mention of per lifetime)

AIA A-Plus MedBooster
RM750,000 (Plan 150: Lifetime limit of RM250,000 from A-Plus Med + RM500,000 from A-Plus MedBooster)

-------------------------------------------------------------------------------------------

Hope insurance sifu here can help to answer some of my questions below:

1. Is there a per lifetime limit for Smart Extender for Outpatient Cancer/Kidney treatment?
2. If there no per lifetime limit for Smart Extender, does the limit follow the Annual Limit and resets at each policy year?
3. It seems like, AIA A-Plus MedBooster Outpatient Cancer/Kidney treatment is less attractive compared to Prudential and GE. Is my observation correct?
Thanks for the help.
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1. No.
2. Yes.
3. In a way yes... but the strength lies here... AIA medical base plan known as a-plus med has NO LIFETIME LIMIT
whereas GE medical base plan known as Smart Medic Xtra do have lifetime limit.

once your lifetime limit is used up for your base plan, you can only claim from the booster plan... which means after you have passed that super high deductible.

Note: this is only one aspect (but very important one) of the medical cards. note that price and coverage amount is still one aspect of consideration.
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