Will the price have major different, purchasing insurance after 30 year old of age?

Guys, my family currently has a medical plan under GE.
I am looking to have my own coverage but only purely towards coverage, no invest,ent linked plans etc. however this agent of mine has repeatedly told me there is no such thing.. How can this be true?

just wondering.. why do we need to declare our smoking status when applying for insurance?

smoker premium will higher due to high risk

You can do a term insurance with no returns whatsoever with an attached medical rider. However, I am uncertain of whether it is available in GE.

Prudential do have term insurance whereby you can attach a medical rider, but the plan is only limited for co-insurance option.

Insurance is a business of risk transference. The higher the risk, the higher the premium. There are 4 main factors that will affect the premium, mainly Age, Gender, Occupation & Smoking Status.

Of course there is also another factor which is the health condition of the applicant during application. Factor of weight (obesity) and health condition such as whether the person is hypertensive may also increase the risk ratio.

During application, if the client/agent fail to declare any significant information that may impact how the policy is underwritten may render the policy null and void which may result in the insurer not be liable to honor the claim.

let's say ive stopped smoking since a month ago. what should I declare?

Still a smoker unless it has been one year of not smoking

So in this age and time, I can't just Get a basic coverage? Haha maybe just a med card then.

The term is a basic coverage with an option to include medical if you want to.

Hi people, i'm just a recent fresh grad who just entered the job market. I have been browsing through quite a lot of insurance threads but it seems quite hard to really gather the information that I need with the wide range of insurance products out there, so I hope some sifus here can help to enligthen me!

As a person who just entered the market, what are the insurance that I need? Assuming that I have a medical card from my current company that has no limit, does that mean I just need a simple life + TPD insurance? Is it worth it to get insurance with investment/savings-linked plan or just solely a simple insurance without those benefits? What are the best insurance products out there at the market now especially for a fresh grad with low salary to begin with?

Medical> PA> CI> Life

Hi,
Great that you already have GE protection.
Looking for coverage only?

Question,
A) Will you prefer to pay until your age 99, just in case you can live until that age?
B) Will you prefer to pay ONLY for 30 year then enjoy after that?

Just in case you prefer to pay until age 99.
Will you prefer to pay for first 30 year in RM200 monthly.
Then
someone inform you, you need to pay for RM400 due to high increase on the expenses in the protection.
Will you continue to pay?

Investment can be divided into 2 type.
- invest in fund.
- invest in company performance.
is different.


Question again,
Are you paying the insurance to a Malaysia no.1 and grown strongest in Malaysia?
Why you want to do that?
Because the more money the company have, the more return it will be.


Just my point of view.


Anyway,
Buy when you can.
You cannot buy when you need it.

Investment linked insurance will suit a fresh grad better, reason is that you can have high protection with a lower premium (rm150 monthly can net you medical card, life/tpd, multiple claim insurance, hospitalization income etc). When your income is stable/increased, you can further customize the investment linked insurance to your liking, increase the sum assure/add more riders/increase the investment portion of greater savings etc. For PA (personal accident) you can look for it at the general insurance side, a lot cheaper with some extra benefit, ie rm214 annually for 100k that also include snatch theft, kidnaped recovery reward, personal liability etc.

Also you can utilize the tax reduction from the insurance as well, potentially can be the greatest investment return if you utilize it wisely.

Lastly would like to highlight one of the company medical card issue, if you retired or switch job, you will lose the protection, if you have made some medical claims before, you chances of getting a medical card would be subjected to the mercy of the underwriter.

Say, I have an insurance plan with CO X.

The plan used to be good at that time, but my needs have changed, and as such, I have lapsed on the premiums for quite a while.

Now, I was approached by an insurance agent, from CO X too, promoting an insurance plan that I am interested in.

Question is, is it okay to let the current insurance plan lapsed, and start subscribing with the new plan?

What I mean by okay is that, will Co X allows it?

If i buy medical insurance, what is the difference if i buy now and i buy later. My company provide covergae currently... So i buy later when i reach 40 no?

When it comes to insurance, its never beneficial for you as a client to lapse a policy and to get a new one.

1. If your old policy had been paid for over 6 years, the agent will not be earning any more commission. If you start a new plan, agent earns another 6 years of commission.

2. Depending on the type of plan that you have, if it was an investment link policy, after the 6th year, the premium that you paid 100% of it will be going into buying you units. If you were to buy a new plan, the allocation starts all over.

3. New medical plans comes with over 20 exclusions as compared to 12-13 exclusions. This means that more things are not covered in the new plan, due to high cost or be it due to medical advancement.

If your needs had changed, you could add on to the old policy, not cancelling it.

Insurance main purpose is to provide coverage WHEN you need it. The problem with this arrangement is that no one can tell you WHEN will you need it as life is full of uncertainty.

I have clients who never claim before even for so many years and I do have clients that need to claim 3 days upon sign up (accident).

Buy now pay longer or buy later pay higher premium, dollar wise, the insurance company had pre-calculate these factors into consideration.

The compelling factor to get insurance now is because you can only get it when you are healthy and not when you need it, especially the medical insurance.

how and where to become part time insurance agent with no quota?

Hi,

I saw your post in Finance section about insurance.

I'm a full time Unit Sales Manager from Great Eastern life Assurance, I'm sure you will soon received a lot of PM regarding insurance policy.

A few vital questions you have to ask yourself
1)Will your company continue to use your service if unexpected event happen? Will not then how is your future medical expenses?
2)Do you have enough of backup fund if unexpected event happen before age 40? Are you willing to use the backup for such purpose?
3)Buy now cheap but pay for more years. Or buy later expensive but lesser year. Wouldn't it the same? You are paying the same for both, the only different one give you protection earlier while another give you protection afterward.

For your information, Great Eastern is the winner for Malaysia Private Health Insurance Provider Of The Year 2013, http://www.malaysia-awards.com/2013gela.html and also The 17th Asia Insurance Industry Awards 2013 Life insurance company of the year. http://www.asiainsurancereview.com/index2013.html

I'm sure you are looking for a reliable and efficient insurance company recognize as multiple awards in year, 2013. Thank you in advance for your consideration and that I'm looking forward to your response.

wanna ask about the annual limit, if it is 50k and on that year say i undergo a surgery cost 75k, is it balance 25k i have to pay out of my pocket?