Dear Cybpsych,

Investment linked policies has no maturity or maturity value- cash value at that point of time of surrendering the policy or death with cash value will be paid out. the life coverage ends at age 100.

Once we hit retirement age, children grown up and commitments are lower, no more new debts, lower down the life and CI portion. This is to try lowering down the premium of inv link. Otherwise for most cannot afford the premium once retire. Maintain med card, accident and minimal life portion only.

Just to address your concern. Check with your agent friend if this is true.

This post has been edited by ChrisGood: Jun 4 2014, 12:26 PM

If you don't have family, and you are not the sole or primary bread winner of the family, life portion may not as important and vice versa.

Whether system generated or not, is not an issue, the issue is always which insurance are actually needed and prioritise to have.
You can have wonderful coverage, but if it does stress your monthly cashflow until need to eat instant noodle, then it is not a good insurance, no matter how cheap the insurance premium is.

Insurance premium and coverage won't be differ too much generally, just how insurance structure it and package it only.
Insurance is not a charity organisation, it is a pool of fund risk transfer. Don't need to look which insurance is "cheap" or not.

You take up insurance if you need the risk transfer/sharing, based on individual needs and affordability.

ChrisGoodcherroy, thanks guys, i roughly know where to begin now

much appreciate the responses!

No i'm not an agent. not a planner. i should be honest upfront i'm not super well verse with every insurance plan out there. that would be not logical. i don't speak any company's language...

I'm not putting Pru down. Having said that, every company train their agent to package and sell to their customer.
Without seriously considering they need the benefit or they don't need the benefit. just because they are trained so. can't blame the companies, cause agents are new, package for them, easier to sell and also bring in more business to the company. like airasia, ask you choose seats, buy food, add luggage. sometimes you really don't need to. unlike airasia... normal ppl out there won't know what is good what is not.

Trust me, if you give all this insurance company quote to any my friends, not matter how smart they are, engineers, doctors, what not, they won't get it without having to ponder on it longer. what is investment-linked? coinsurance? deductible? insurance charge? accelerate? driving meh, accelerate...

you are so pissy... and i don't think he read my post too much.

i think zest168 explained better than me. i admit.

example of redundancy...
PruacciMed - you said can claim if let's say it's minor accidents... and sometimes no admission or even admission you don't want to touch the limit for medical card. fine. BUT this is redundant for someone someone who can claim from their company. now... TBH... everytime you recommend this to your customer, have you consider whether he/she can claim from the company?

zest168 is also right about understanding how crisis shield works. if i remember correctly, crisis shield accelerates from prulink one. so my question for you...
if after kena CI (i assume crisis shield amount same as life), sum assured = 0, then your enhanced pru payor basic also kicks in... BUT... if sum assured is zero... do you still want to maintain the policy? yes, because of your medical card... but do you still need to pay 12k a year, since your sum assured =0? of course, the money still belongs to the life assured... but i'm going with what we need and what we don't need...

and i might not know the price (refering to enhanced pru payor basic) but logic says, it's not cheap, 12k a year, 36 y/o male (even if NS). 36 not old... but not young either... and sadly Male rates for CI related tend to jack up faster.

i'm not a sales person. never have been. but i admit i could have been more thorough while typing my previous post.

but i'm also under the impression that ppl who comes to this forum have done their previous homework.

Do you mean existing HIV patient?

HIV is one of the 36 Critical Illness, which mean very high of health risk. I guess no company will accept 36 CI patient for medical card, even a diabetes patient also hard to get a medical card.

I like to tell my client, medical insurance is not like shopping, when you have money, you can buy as much as you like. We need to meet the health criteria set by insurance company in order to get one. If you >40-50 year old, most probably insurance will ask for medical check up.

But if other form of insurance like Life/TPD, Personal Accident, Education, Saving, or retirement should not be an issue for pre-existing illness patient.

Its only available in the US, Obamacare, health reforms starting this year. Not available in Malaysia.

AIDSs due to blood transfusion and Full Blown Aids are the lists of the 36 Critical Illness. Sorry to say no insurance company will take up the risk.

昨天，我还在上课时，接到一通电话，011--------
不觉得奇怪，就接了，对方是个女人，以马来文交谈，她直接问我，你是不是。。。。
她知道我全名，知道我身份证号码，信用卡号码也知道，然后她说想要确定我是否没骗，就要我说一次信用卡的expired date,我当然没有给她我的security code
接着进入正题，说什么保险公司，一大堆废话，说compulsory ,不能不要， 我说我要consider,她直接说她transfer给她manager确定我的身份，
Pass 回给她，我就还说我要cancel,我不要，她说不能cancel...盖了电话，我想如果她charge我钱，我还是report....
谁知今早我收到信息，说我刷了四百马币，我直接打回hong Leong 说cancel这个transaction,
服务人员告诉我已经不可能取消，只有叫我去branch填form, refund back money,然后打回那公司cancel,
谁知我上网找那间公司总行的电话，想打去骂个痛快，尽然发现他们只给email，没有电话号码，我跟我insurance agents傻眼。

Mnet, pls help to translate

Hi Adele, very good feedback you got there and it's good to have a thread where posters like you contribute. Not to mention that most threads died due to lack of people asking questions. It also increases the reader's perspective towards how insurance work.

The payor for him can be questionable (due to his high cover of RM500K, without much commitments) but that does not mean that the payor is in general, useless.

When he had claimed out due to the 36 CI (or TPD), the insurance charges for it will be cancelled, thus he will have the option to reduce the premium or still continue to pay the same amount of RM1K premium. I see your point that he can use the RM500K to pay for the premium, since the insurance charges for the CI has been reduced.

With the payor it means Prudential will take over the premium payment and pays on his behalf. The policy will now accumulate cash values faster since the insurance charges for the RM500K CI is no longer applicable and it is channel for buying more units instead.



Do note that having the payor does NOT mean that the policy is FREE. It simply means the policy is waived of future premiums, but NOT insurance charges. Should we grow older, the insurance charges will go up by age, especially if there is a medical plan on it.

As we get older and should the insurance charges gets higher than the premium paid, the variance of it will be deducted from the cash values and there is a possibility that at older age (> 70) and the policy will need to be top up, even after a CI claim (if the policy holder survives the CI).

That said, I do agree with you that the medical card up to age 70 should be increased to at least 80 or more. Hence a better option would be having PRUhealth with annual limit waiver (instead of PRUflexi med) .

Point is, if he has RM100K annual limit, at age 80 (which is 44 years in the future), it isn't going to be much of a use either.

When the payor kicks in, the insurance charges for the CI will be used to buying more units, thus accumulate the cash values faster. If it was without the payor, he will have the option to reduce the premium.



Very good point Adele. As a matter of fact, whenever possible, try to self insure instead of asking the insurance company to cover for everything (which jacks up the premium of course).

For example, if you are OK to pay for RM3000, or RM10,000 for hospital admission, getting a medical card with high deductible reduces the insurance charges tremendously.

http://www.insurancepenang.blogspot.com/20...ce-premium.html

This post has been edited by roystevenung: Jun 5 2014, 11:44 AM

hi all,
i need insurance for my f&b biz...please advise
islamic if possible

my example was under the impression that this crisis shield from pru reduces the Sum Assured upon CI claim. means even life and TPD coverage is no more.

i am just saying that if say Sum Assured = 0, then assuming you have no other benefits covered aside from medical card... then waiving the full premium amount more than what is necessary. though no doubt, the money still belongs to the life assured. the cash value is still beneficial at the end of the day.

i don't mean to say use the sum assured to pay for the insurance since i believe the point of the sum assured was to treat whatever CI that person has.

for your premise or your employees or what???

there are many takaful companies out there... you are bound to find something especially many companies are working on expanding their takaful arm.

i just back from bank and talk to the guys about life insurance..
my question is,is all bank 'life insurance' rate same? if no? can suggest me any?
and since im new about this thing,its my pleasure to get feedback..

The medical card should be the one to be use to treat the person. The tpd or ci is meant towards income replacement.

I had PM and I am sure the poster has had a clearer picture of which is more important for him

you are looking more to liability & also fire insurance to cover your premise
most of them are refering to medical & life insurance over here . . . . .

of course is different from company to company . . .
you need to shop around & get the best deal,
sometimes the best is not the cheapest & also the most expensive are not the best
so read the fine line in the policy


This post has been edited by Colaboy: Jun 6 2014, 02:04 PM

Wah, like that also can???
Just write a nice long email (in English or Malay please) and copy Bank Negara complaint and also the insurance companies' complaint email address

Summary pls, in English

The post basically say the person who called has his credit card number, ic number and full name and he provided the expiry date (not sure why) and then he was forced through the transaction although he kept saying he does not want that product. His cc was charged RM400 and he was unable to reverse it through the credit card company. He tried to call the insurance company but the website only show email and not phone number

He has not stated which insurance company though

Simple. Go straight to the insurance company to settle. There is a 15 days free look period after getting the policy. He should exercise that right and get a full refund.

Since he knows the website of the insurance company he can go to any of the branch and get it cancel. The credit card instruction was from the insurer, hence the instruction to cancel the transaction has to be coming from the insurer.

Otherwise upon renewal, it will again be charged.

i need fire,burglary/robbery and public liability takaful/insurance
anyone has experience in commercial takaful/insurance before?

These are general insurance which are straight forward. But these days fire,burglary/robbery insurance hard to get due to many fraudulent case. Especially furniture manufacture/warehouse.