what is Level Cover or Level Face mean?

Level Cover or Level Face. Death Benefit payable is level across throughout the policy. (Fixed)

Increasing Cover or Face Plus. Death Benefit payable is sum assured plus fund value. (Not Fixed cause your investment may increase or decrease)

please read

it doesn't mean that exactly but it refers to those type of policies this is what i understand. I don't know if there's a standard 'term' for these type of covers, but this is what i know to be the terms used.

Checked the receipt that they mailed to me, no any info about direct or agent. It only show the the plan and total premium.

The customer service told me I need to walk in to branch to entitle 15% discount.
Since my insurance already enforced, so she told me I will entitle discount only when renew next year by walk in to branch.

hmmm strange - i nvr went to any branches. got all the stuff done online & through phone. ask them to change to direct account to ensure discount for renewal. i would also write in and request a refund as the account was direct all the time - at least for the last year. i think if you nego well you should be able to get it. i dont know about your package but 15% on my cover is a around 500 bucks so i wont just let it slide.

Thanks for your advice, very helpful.

Ya, I will visit to their head quarter and request for discount. I will apply accidental plan as well which confirm get discount rather than via online which will not give discount automatically.

You not receive 15% for your recent renewal?

i always got the discount - even though i handle the accounts online. but mind you i check for it and asked for it upon signing up. for your info: with SCO you can add a very usefull "rider" now - might be worth checking out. increases kidney, cancer benefits and adds home care.

Now the term is ILP for BSA + fund price

There is a term for it.

这是我近期加入保诚成为保险代理不久遇到的遭遇。姐妹们要特别小心哦！

自己在了解保险公司运作方式后决定参与为大家服务避免顾客在不了解保单的情况下买单。所以一直都在寻找有兴趣者，好让我可以一一为大家解释。

就在这时候，有位接近四十多岁的先生找上。自称来自马六甲，想找个可以信赖的家庭保险顾问，为自己和妻子孩子买大约月保费两千的保单。

了解一些背景后就想约个时间出来解释清楚保诚所提的保单。第一天他就说晚上不得空，约了别人。后来老实说是约了其他代理，要比较我们的保单。心想有先了解其他公司的配套也是对的。而约改天。可是他却通常都说不得空，要在约时间。

过了几天，我和他联系再约个时间见面可是没有答复。

突然在夜深中快十一点晚上突然信息来说现在有空了。
想说有点迟了，虽然是难得的机会，不过详细的解释保单需要很长的时间，担心打扰他家人的休息时间。所以最后决定打过去再约个时间。他说他当时有空，隔天晚上要到马来朋友家拜访，如果过后要见面也是差不多十一点了。他还告诉我，他的家庭是富裕人家，爸爸是有头有脸的人，所以他有时会不方便和人见面。所以时间方面很难配合。说着说着他突然开口问：你们保险公司有提供一夜情后才买保单的吗？

天啊！我还以我听错了，还要求他重复了好几遍！心想他会不会不耐烦啊？还问我是不是处女,要不要被包养。。看了样子再决定要不要和他........也可以。还告诉我，如果跟他发生一夜情过后肯定跟我买。不要的话，有其他人等着跟他签保单。在多次的澄清下，我说只卖保险服务保客claim保险，不做其它的事，才结束的。

Hi

Currently I am working and used AIA Insurance under company policy to cover the whole of family (Spouse + Dependents)

If I am planning to quit my Employer and doing my business how can I get similar package as I get now? How much I need to pay for the package of insurance?

Thanks

Company Medical Card even include seeing normal GP and Specialist Consultation

Don't think u can get such comprehensive coverage as an Individual

At most is just the normal Medical Insurance / Card that covers Hospitalisation, Operation, CI, etc

Premiums will depend on coverage amount, etc

Thanks bro.

Does anyone can quote to me the premium price?

Part 1. How to find a good agent: Spotting the good guys and avoiding the con-men


Today I was scrolling through a few threads and found that much of the "advice" come from a few insurance agents preying on gullible people here. So, I would like to share some general guidelines that people may find useful, especially those who are not that financially saavy. I also decided to include "doctor analogy", as I find the purpose of a financial adviser is to checkup your financial health and recommend the appropriate products (treatment). This may help newcomers understand things in terms that we are familiar with. I do not represent any insurance company and neither will I recommend any insurance company. I hope the mods can sticky this thread.

Starting from the worst:



Worst: Bank Staff (e.g. Relationship Managers)

To summarize - NEVER ever purchase any investment or insurance product based on a bank's recommendation!
Reasons:
1) Banks are notorious for hard selling, product churning, outright misrepresentation, etc... - I hope nobody has forgotten the miniBOMB (minibond) saga.
2) Banks relationship managers (or whatever they are called) have sales quota to meet - Your interest is NEVER in their eyes.
3) Banks will sell products that will make money for them first BEFORE the product makes money for you. Banks have been known to intentionally design products to profit from consumer loss.

By law, bank staff are now not allowed to sell investment products for people who come in to do basic transactions and did not explicitly requested for investment advice. This applies to fixed deposit too.

So, if you or your elderly parents ever go to the bank to apply for a FD, and the bank starts selling you some other stuff:
1) Tell them they are breaking the law
2) Don't believe what a single word they say (especially if they offer alternative recommendations)
3) If they persist, report to MAS, write to newspaper, etc... whatever

This is quite a hard line stance, but I think it is necessary. While I'm sure there may be responsible relationship managers out there, I think the probability of finding one is probably 0.01%.



Bad: Tied Agents or "Financial Advisers"

To summarize - One should never by products from a tied agent Yes, tied agents still make up the majority of agents and this may be offensive to the insurance agents and "financial planners" out there, but it's the truth.
Reasons:
1) Tied agents are trained to be salesperson 1st and financial adviser 2nd (if it all).
2) Tied agents are remunerated by commission and there is a conflict of interest between the agent earning money to feed his family vs agent responsibility in doing proper financial planning and recommending suitable products for his client. Many if not all tied agents will recommend you products that earn them the most commission and these products are usually the lousiest one for the consumer/client.
3) Tied agents are also usually pressed by upper management to sell more products to meet quota, much like bank staff.

While I do acknowledge that there may be some responsible tied agents out there, one other fact puts me off from transacting with them - they can only recommend products from their company. That by itself is a severe limitation. If you ever come across a tied agent who responsibly recommend products from other companies, you should advice him/her to join the IFA line where his ethical conduct may be put to greater use.

The only reasons why I will do business with a tied agent is because some companies do not partner with many IFAs (e.g. AIA, GE, Prudential) but such companies may have competitive products.

Doctor Analogy A tied agent is like a doctor that only prescribe and sell drugs from one drug company, and often the drug he/she prescribes is the most expensive one and may not necessarily be the most cost-effective medicine.



Fair: Independent Financial Advisers (IFA)

To summarize - All good financial advisers are IFA, but not all IFA are good financial advisers

One thing I learnt is that IFA does not instantly equals good financial adviser. Basically, I have classified IFA into a few categories.

Category 1 The Next Generation Salesperson
I admit, I have not met this type of IFA before. Nevertheless, I am listing down this "profile" as I am sure they exist. Probably "graduated" from a tied FA, this IFA is what I call the "next generation salesperson". He/she is still a salesperson at heart. Only difference is that instead of 10 products, he now have 100 products to sell!

Doctor Analogy This type of IFA is like a doctor who has the entire range of drug products. But he/she does not do a proper diagnosis of your health condition, and prescribe medicine that will earn him the most money, and the medicine may not be even relevant to the health condition!

Category 2 Wolf in the Sheep Skin
Very sadly, I have encountered this type of IFA, which I think is the most damaging out there. Unlike salesperson, whom a newbie can learn to identify quite quickly, this type of IFA will *appear* to be genuinely ethical but in reality they are not. They will usually do proper financial planning, but the product recommendation will be full of unnecessary high-expense, high-commission products.

Doctor Analogy This type of IFA is like a doctor who has the entire range of drug products. He/she does proper diagnosis and recommend the correct type of medication for your health condition. However, this doctor will prescribe the most expensive, which is also usually the least effective medicine, so that you will not be cured totally. Thus, you have to visit him again for more medicine, and he earns more money from you. In real life, I have encountered such doctors before, and I never visit them again once I learn of their unethical "business model".

Category 3 The Average IFA
I do hope the majority of IFA lies in this category, and in my opinion this is the minimum standard that consumer should aim for. This IFA will do proper financial planning and recommend appropriate products based on client needs. However, he/she will not source for the best product out there but will recommend something that is good enough.

Doctor Analogy This type of IFA is like a doctor who has the entire range of drug products. He/she does proper diagnosis and recommend the standard medication (neither super effective or terribly bad). Most family doctors in real life fall in this category.

Category 4 The Good IFA
Probably the minority of IFA out there, this IFA does everything properly from financial planning step to the implementation step. He/she places his clients interest before his own, and in many cases goes the extra mile at his/her expense.

Doctor Analogy This type of IFA is like a doctor who has the entire range of drug products, does proper diagnosis and recommend the most effective medication. In real life, I only know of one family doctor that is up to this standard.

Wats the difference between Prubsn vs prumedic ?

PruBSN is Syariah compliant (for Muslims) while another is not.

In terms of benefit which is better? I saw flyers of prubsn stating 3 in 1 benefit , hospitalization-tpd/death-saving.

Im trying to get MC for myself and somehow information is confusing to make decision.

I believe the 3 in 1 benefit you mention is about Investment Link Plan.

There is many medical plan in the market, and every company have their pros & cons. Just try consult a few agents, then you will have better ideal which have the best benefit which matters to you most.

This post has been edited by conqu3ror: Aug 8 2014, 04:42 PM

Sad to say, to the layman, choosing an insurance plan can be very confusing.

Well, whatever you saw, is really just some marketing gimmick. Whatever 3-in-1 or not. The easiest way is to decide… what do you need?

1) Life insurance
2) Health insurance
3) Do you want something with investment/savings element?

Like buying air tickets, sometimes you just need to get from one place to another. Don’t need the seats selection, ipad, meals on board, luggage. But obviously airasia wants you to buy everything because they need more revenue. Same goes to insurance companies. And agents.

ALSO to sort of make you understand better, most medical insurance out there, are very similar in terms of benefit… they all cover the necessary thing, but vary in terms of amount (but not that much anyway). But there might be some extra benefit, that some offer and others don’t.

what is SCO bro?

Hi,

I am not from Malaysia and currently working here, with a company insurance provided by my company here. I want to look for Critical Illness insurance to cover me in case of any critical illness happens that my company insurance cannot cover fully.

Any good recommendation? I heard from my friend that Allianz insurance is cheap.

Is there any critical illness standalone plan? I already have life insurance bought at my own country and may be going back to my own country a few years later. Still not sure.

Thank you.