Are there any medical card plans that become effective after 55? Manulife used to have a plan, but I can't find it anymore. Basically, you pay for medical cover from now till 55, and the policy get inforce from 55.

Wow. is that true?
I heard that you can claim twice, once from each company.

So those with Company insurance might not need personal insurance if the amount does not exceed.

If company cover the medical already, then personal medical is not a priority already. (not to say one cannot have, just low in prioritisation )

For my knowing that most under employed people are poor to middle class people, and majority don't have unlimited budget or most can have little saving left every month.
To have double medical insurance (company + personal medical)? while every month left nothing for saving or for other purposes? It is a good financial planning?
Since budget is tight for most middle class people, there is always need to prioritise.

For eg.
Company already provide medical coverage, so don't need personal medical immediately, but look for life coverage.
While if the person is not bread winner of family, then life insurance is not the most important to have.

At young age, it is important to save enough for emergency fund, built up capital for investment.

As investment is the one that can turn a person faith of future down the road. As with capital, one can start a business, change the coarse of one entire life career, as well as investment can provide passive investment, and capital gain, that may also change the path of a person life.
vs
never can buy enough insurance, until left no money, then struggling for the rest of the life (extreme example only)

So take up or not to take up certain insurance is also an important part of financial planning.
Not taking up certain insurance is not mean that the person doesn't know financial plannning!

As said before prioritisation, as not everyone can have everything.

We need to assess, (A)
1. The chance of one being unemployed
2. The chance being being sacked
3. The chance that company doesn't pay your monthly salary,
that result in lose of income and need emergency fund to survive through the period
vs
(B) The chance being hit by cancer at young age,
that need a medical insurance.

So which has greater chance of occurring that we prioritise it first, so if (A) probability is high, then we prioritise and monthly disposal income for A. If got extra the no harm to allocate to B.

When agent introduce medical, said per day Rm5, cheaper than Chatime
When agent promote life insurance time, then said Rm5 per day, less than coffee bean
When being introduced with saving plan, then another Rm5 per day, less than starbuck
When being introduced broadband package time, Rm2 per day, very cheap.

This world everything is cheap. 

For me, my view on cashflow and financial management, (one can disagree, I can accept it)
If I have no cash, no money now, I may die now due to starvation, debt ridden etc reason, even I have million of insurance coverage. 
I may have 1 million of medical insurance, but due to whatever reason, I have no cash money for immediate treatment, buy medicine, or paid tax fee to go to panel hospital  I also may died due to it.

If one cannot sort out immediate cashflow issue, one has fail the financial management, that's why emergency fund is the top priority in my book.

Some may say what if I being hit by disease, cancer etc, with no medical insurance.
If I am poor and cannot afford it, so be it, I died because I am cheapstake. This is cruel world, not a charity world, and insurance is not doing charity work as well.
I poor now, I need to sort out every month cashflow, and build wealth at early stage of career. Even though medical insurance is more expensive at later year, so be it.

but most company are cheapskate which cant buy premium for their employee.
the saddest part of it is they higher management will get better benefit of the insurance and not the floor worker.

so it is a must to buy and don buy those exp package. try to get the minimal for safety purpose

What do you guys think about children's educational funds that cover the death of the children? The return is exceptionally low too, close to being the same as the amount that you put in at the end of the term.

Why not insure the bread winner and put the in bond funds, then absolute assign or nominate the proceeds to the children?

Noted! We are on the same page.

For MLTA/Life that is focussed solely on protection though, would you recommend reducing the premium as low as possible so that the policy is really focussed on only protection? But if that is the case, the investment returns would look so bad that the policy holder would have to top up mid way in life.

Ive seen several policies with too high a premium, sure the investment returns are "good" but those monies should be invested in a separate account meant only for investments.

What do you think?

What if the person buy Unit Trust as rider that attachable to ILP sales charges 5%?

VS

What is the person buy UT from third party with lower sales charges(2%)?

Which is the profitable way?

Why ur client kene checkup?

Why allianz ask him checkup?

unker roystevenung does Prudential medical card is as charged OR as charged subject to reasonable fee?

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).

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 ?

I heard there have insurance that cover for HIV patient in US... is that available now in Malaysa?

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。

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.

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...

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?

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.

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

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

A FEW weeks ago, Mr Tan, a regular client, came by the office. He was excited about a new investment he had made, in an insurance savings plan.

He was confident it would give him good returns while offering substantial insurance protection.

Mr Tan had acted without first seeking our advice, which was unusual. However, that was not what rattled me most.

First, some background about Mr Tan. Now in his mid-forties, Mr Tan became our client about six years ago. Even then, he had been saving and investing for a good 20 years. He was an easy client to advise because he understood the fundamentals of good investment. He did not rely on luck – he looked instead to hard work and sound advice when deciding where to put his money.

This clear-eyed approach had served him so well that Mr Tan was already able to retire.

So when he came to the office describing his latest investment, I was very concerned as I am familiar with this product.

“The agent explained to me that I could buy the insurance policy by paying RM50,597 a year for five years. That means a total investment of RM252,985. Under the plan, I get RM3,960 annually for first 5 years and RM7,920 for next 19 years. At the end of 25 years, I get an additional RM398,362. That’s a total of RM568,642.

“It’s win-win. I’m protecting myself. I’m also investing for the future. And should anything happen to me, my children will get the money.”

I have often written and talked about insurance savings plans with one clear message: seek advice first. Thankfully, I was able to persuade him to leave the documents with me so that I could have a closer look

As I scrutinised the paperwork, I saw what I had anticipated – that the deal was not as sweet as it had sounded.

Under Mr Tan’s plan, with annual returns and the lump-sum payment at the end the client gets back RM568,642 for an investment of RM252,985.

A key point to note is that insurance savings plans always demonstrate their worth by using ringgit values and not percentages.

It is very difficult to compare a ringgit value return to the fixed deposit rate, which is what most people would use as a benchmark.

Very often, these plans offer death coverage. In Mr Tan’s case, it was to the amount between RM136,000 to RM424,000 . This plays on a person’s natural fear of mortality.

If anything happens to the client, that money is paid to the family. This is a comforting thought – the client now feels that they are securing their future as well as helping their children’s.

I called Mr Tan and asked to meet urgently. I explained my serious reservations to him and presented alternatives. “Mr Tan, why don’t you optimise what you have by buying a term insurance policy for a smaller premium to cover you for the same amount?”

“You can always invest the difference in an investment that can earn you a return of up to 8% per annum. You have been achieving that kind of return for your liquid investments for the past 10 years. At the end of 25 years, you will get something like RM1,153,439.”

“This is so much more compared with RM568,642 that you get from the insurance plan. This plan is suitable for those who need forced saving and don’t have investing knowledge to invest their saving. However, it is definitely not for you.”

For a while, Mr. Tan stared at me blankly. Then it all clicked and he said, “I should never have invested in this. Thankfully, I’m still within the ‘cooling-off’ period. I can get my money back.”

Relieved he was willing to accept the advice, I relaxed. Over a cup of coffee, I asked him what really happened as he was usually so careful.

He sighed. “I don’t know. When my banker came to see me, he brought an insurance agent with him. They were very convincing, talking about saving money and leaving something for my family. I was so taken by their presentation that inside my head, everything jammed.”

I smiled at the word “jammed” because I knew exactly what had happened.

Mr Tan was a man who was used to straightforward investments. However, this was a hybrid – an investment combined with insurance. It was presented to him in a polished package, with many emotional factors. He became confused and couldn’t objectively dissect the benefits the way he usually would have.

As we parted, Mr Tan said: “I completely forgot what you have told me time and again: that insurance is not the same as investment. Insurance companies can give me coverage and protection. But that does not mean they are experts in making my money grow.”

With even a seasoned investor like Mr Tan taken in, I couldn’t help but think of all the younger, less experienced players. This is what I would advise:

If you are presented with an investment opportunity, you must be clear about:

● What you’re investing in exactly;

● What is the annualised return on your investments, and

● What terms and conditions you are agreeing to.

If you are not comfortable or not confident that you understand everything fully, never be pushed into agreeing. Seek advice or reject the offer outright. It is your right.