Just checking,
For the amount disbursed in cases of death/permanent disabilities, does the insurance agency honor the sum stipulated in the contract, or is it up to them to make some calculations are disbursed only a portion of it?

Meaning to say, if YY is entitled to 100k for death, is the beneficiary going to be paid 100k, or will the insurance agency make further calculation, and pay less? Say 100k minus 10k as the insurance is less than X years or something.

Yes.

Unless you bought:
MRTA- mortgage REDUCING TERM assurance

And except for children, where 'Juvenile Lien' is applicable. Lower payout when the child is age 4 below. Full sum assured payout upon age 5 and above.

But, check your policy again to be certain. Maybe your insurer sold you something like reducing life/ tpd after certain years, reducing your premium. I have seen a company selling this type of rider but that's for critical illness portion.

For Investment-linked policies, death payout will include cash value (if any).

+3 points noted

Mine is an investment-linked plan.

So basically, upon death:

1) sum assured is confirmed
2) cash value of investment - which may be more or less, depending on the performance of the investment

Is my understanding correct ?

wow, I didn't know Insurance Agent also need to study medicine, law, business admin & hospital management.

You know any agent with that capable please intro me. I think as an agent he should also provide medical service, law consultation & admin for free to his client?

I really really serious, please intro one to me. I make sure he sign a deal contract to provide these free service when I buy insurance from him/her.

I guess your bf/husband must be a superman, and just hope he still surviving by your demanding.

Yes, correct.

Yes, that is right

Mnet is a "he" if you look at his signature.

Thank you for being a realist.

Agent go cross check charges with Dr, call up MMA and check the charges, check the billing, etc. Tats what we understand from MNet. She/ he has so high unreasonable demands, must be self service.

Clients can choose agents, agents can also choose clients. It's a profesional relationship. Mutual respect must be there. We earn commission, to serve. You buy, to enjoy the benefits. Not to look down at the profession or the person.

MNet is just trying to be funny, to flame ppl here...

got into a discussion with a friend, working for Prudential. he offerred me a PRUlink One plan with the following:

RM1,000/mth premium

PRUlink One (64yrs) + Crisis Shield (64yrs) + PRUacci Guard (34yrs)

RM500k coverage for life, TPD, 36CI, and Accidental Death (not sure if each 500K or combination of all)

Medical card
- PRUacci Med (34yrs) + PRUflexi Med (34yrs) + PRUmed (34yrs) + Enhanced PRUpayor Basic

RM2mil lifetime limit, RM100k annual limit
R&B: RM300/day, Zero Deductible
Hospital/ICU allowance: RM100/200 per day
PRUacci Med: assured RM2k
PRUmed: 2 units
Enhanced PRUpayor Basic: RM12k per annum

premium waiver: RM700 upon TPD or 36CI


am wondering if the coverage is good as well as the RM1k/mth preium is justifiable for the amount of coverage.

thanks al!

Seem like your friend just dump in everything what Prudential offering till the premium cost Rm1k/month

But of cause it depends your current age, occupation and smoker?

Everything is good to have it, but are you sure you need everything in the plan? Guess this is the thing you need to study and consider.

I will suggest you put a portion of it to saving/retire plan then everything into insurance.

thanks for the feedback.

I'm a Class 1, never smoke

yeah, seems like one big lump sum coverage. fyi, my existing insurance coverage is low, and i am also looking for better coverage as well.

RM1k/mth is a bit steep for just insurance alone. This is ILP but i'm looking for protection coverage (investment portion is just a bonus for me).

separately, i asked him to quote me RM500/mth premium. it came out to just RM200k life coverage. the rest of medical is almost on par albeit lesser limit (RM1.6mil lifetime, RM80k annual).

This post has been edited by cybpsych: Jun 3 2014, 05:03 PM

Just to clarify:
There are two types of investment-linked plan
A. pays 1) + 2)
B. pays the higher of 1) or 2)

the reason why the other two guy only say type A is probably because their insurance company doesn't offer Type B.

My guess is Type A is way more common than Type B.

This post has been edited by adele123: Jun 3 2014, 10:43 PM

BTW... Medical card only until age 70? Seems too soon. opting for those with deductible will lower the cost.

also i don't speak pru language, too confusing at times. but enhanced prupayor basic is already your premium waiver upon diagnosed with 36 CI. you will be getting the lump sum amount if you get diagnosed with 36CI. No point in getting a rider to waive premium. This benefit can be costly, considering he quote RM1k per month means RM12k per year as well. Age 36, and if you are a guy, it's not cheap.

plus i don't get why another premium waiver upon TPD or 36 CI. if kena TPD or 36 CI, you will get the 500k anyway... again pointless

whatever that you can separate it out, you should really consider to cancel (except for the actual medical card and 36CI). they simply add all these rubbish cause the company teach them to sell like that.

stuff like PRUacci Med will overlap with the normal medical card. i'm guessing it's additional coverage if result from an accident. no point since you already have existing medical card.

and i wonder what is prumed? 2 units? if i remember correctly it's some additional cash if you are hospitalised or something... which seriously it not needed. you already have the R&B. unless you stay in rooms above your R&B rate.

I'm sure your friend can give you a quote, with less of those frills... and still give you high enough medical coverage.

Are you an Agent Adele, A qualified planner?

Are you putting down Pru? How well versed are you with the plan? Have you met him in person to dictate what he should and should not have? You have not seen the full quote, why making your conclusions?

Which company are you very pro with, AIA and your recommended AIA family plan?
Why don't you recc your agent or yourself then?

Please Clarify this: waiver (Prupayor is not important) for him, That's what you say above. Once CI is claimed, that's it. Pls advise in depth. I think it's crucial for mos[FONT=Tim

You don't speak pru language as it's too confusing? What is your language? Our policy and quote has very simple easy to understand English/ Bahasa. All company have their own terms to describe the benefits.

You mislead ppl here with what you claim to know.
You quote yourself "slightly more knowledgable in insurance bla bla,,,unbiased view...". I guess you gain your knowledge from asking ppl around and getting quotes from agents randomly?

So Pru agents are trained to sell rubbish? Or you feed yourself with rubbish info regarding financial planning/ protection? Therefore your conclusion. If you are good and qualified, sell to him.

*Btw I feel his premium was high- but premium is calculated by a system. So what you put in, what you get. There is no cheating there. Maybe the agent can show him with his laptop how the premium came up to rm1k and what are the costs of benefits. I do this with my clients.

This post has been edited by ChrisGood: Jun 4 2014, 08:50 AM

1K per month...

I think it is the affordability issue first for most middle class out there.
1K per month is a big commitment for 34 years.

12k x 34 years = RM408K commitment just for insurance.

I think the first issue, it is a need to have such coverage with such premium in the first place, before venture into how well the coverage issue.

thanks guys.

affordability is one can of worm considering i need to commit for 30+ years (assuming i live long enough till it matures)

another view is that commitment ties to the coverage offerred. as ChrisGood stated above, system generated the premium based on my current age and classification.

I do get the Sales Illustration copy of the breakdown of premium vs assured value. RM7xx on the life portion (Basic Unit), RM2xx on the medical portion (Protection Unit).

The question of premium vs converage rose as I presume my medical need is very much needed (high frequency visits when one falls ill or sickness or surgeries) than the Life (1 time deal if I meet my maker)

I'll workaround the priority (life vs medical) and compare some offers (coverage) vs affordability (premium) as well

cheers!

If I were you, I am OK with PRUlink One + Crisis Shield and PRUacci Guard, but check to see if the Crisis Shield accelerates the PRUlink One sum assured upon claim. If it does, then upon claiming any of the 36Critical illness, the PRUlink sum assured will be reduced by the amount paid under the Crisis Shield i.e., RM500K - RM500K = 0. If Crisis Shield does not accelerate the PRUlink sum assured upon claiming, then it is OK.

Otherwise, you have two options, (1) Buy a Critical Illness plan that does not accelerate the PRUlink sum assured upon claim, this will be more expensive in premium or, (2) Depending on how much you need upon claiming the 36 critical illness, and how much you want to leave behind upon death. If you want to leave behind say, RM200K upon death and claim RM 300K upon diagnosis of any of the 36 Critical Illnesses, then your PRUlink Sum assured can be RM 500K, while the Crisis Shield sum assured be RM 300K, this way premium is cheaper.

If I were you, PRUacci Med and PRUmed are really nice to have. What you need is a good overall medical card covering hospital admissions and surgeries due to both illness and accident up to age 85 or 100. Kiasu people like me bought one upto 100 years old, hahaha. 70 years old (or young) is really too early to terminate a medical plan and at that age you may no longer be eligible to buy another medical plan. So buy it when young.

Enhance PruPayor Basic and premium Waiver the premiums should not be too expensive, I will include them because upon diagnosis of 36 Critical illness or becoming TPD, the premiums for the policy will be paid by the company into your account, and these premiums can be used for purchasing the units for investment purpose after the sum assured for CI or TPD been paid to you.

Hope this helps. At the end of the day with the escalating cost of medical fees, we need to cover ourselves well with a good life and health insurance plan. Happy buying!

This post has been edited by zest168: Jun 4 2014, 11:54 AM

in my rough quote from my friend-agent, PRUlink One @ RM500k + Crisis Shield @ RM500k + PRUacci Guard @ RM500k + Accidental Death @ RM500k. Each with individual assured value, so my earlier assumption is RM500k each coverage type.

I'll need to dissect each portion to get more detailed clarification from the agent

lowest premium that I requested to quote was RM500/mth. Assured value all reduced to RM200k. The rest of the medical coverage is comparable, just slightly lower limit.

with this, i might want to extend the medical up to 80 or 90 years instead

thanks!

[quote=cybpsych,Jun 4 2014, 11:35 AM]
thanks guys.

affordability is one can of worm considering i need to commit for 30+ years (assuming i live long enough till it matures)

another view is that commitment ties to the coverage offerred. as ChrisGood stated above, system generated the premium based on my current age and classification.
[QUOTE]
I do get the Sales Illustration copy of the breakdown of premium vs assured value. RM7xx on the life portion (Basic Unit), RM2xx on the medical portion (Protection Unit).

The question of premium vs converage rose as I presume my medical need is very much needed (high frequency visits when one falls ill or sickness or surgeries) than the Life (1 time deal if I meet my maker)

I'll workaround the priority (life vs medical) and compare some offers (coverage) vs affordability (premium) as well

cheers!

[/quote]


Hi,

See, now you are in the right forum getting clearer answers gotta filter out some well intentioned but misleading infos though.

The answer from Zest well explains.

You know best the following to determine what your commitment for insurance should be:
-do you have any other policies, what are the total coverages?
-how much you earn and how much % of premium you feel comfortable to allocate to protect your future earnings and current, future lifestyle
- what are your liabilities
-any major lifestyle changes you foresee ie new addition of family member (children) etc, buying a new property

Most planners will say allocate 10-20% of your income. For some, it's way too much. Maybe you decide to start small but sufficient and upgrade later. Being investment linked, it's flexible enough. Of course premium will cost more based on age at time of upgrade, and concern of insurability due to illnesses.

So main concern is medical- then big portion of your premium should be on medical card and critical illness. You are 36 years old (34 years coverage for med card if expiry at age 70). Critical illness cover with prudential, few options as Zest wrote. Ask your agent for the options as per the quotation system.

Prupayor or waiver is crucial, it's an insurance for your insurance plan. It pays for the medical card once critical illness or TPD. Cannot work, how to pay premium?

PruacciMed is for minor accidents. Separate from med card, does not affect the limit of your med card. Not all accidental injuries require admission or surgery but still costs a bomb. The premium is nothing, very very low. I have so many claims from this benefit alone.

Cheers