Actually the budget about RM250 should be right for you.

I would recommend to get a better medical card and cut down on protection if your main concern is on your medical card.

You can still change the insurance since it's just 1 week + by calling to GE and saying that you would like to cancel ur plan under free look period as you are not happy with the plan.

Otherwise, you may revise the plan with ur current agent.

Hi sifus,
My father possess few insurance and not sure with the policies and what is the consequent after termination.
Where should i seek for help?
And what is the consequent after terminate before due date. Will it lost ?

Need to look at the type of policy and most importantly, the reason/purpose he bought it for.

Suggest that you+dad to sit down with the insurance agent to summarize the policy in details and let your dad to determine what would be the next course of action.

There is a few way to terminate, for ILP product, you may even get back some return on your premiums.
The other way is that you just left it idle and it will eventually lapse
Last, the insurance reach maturity and you get back part of your cash value but it is unlikely.

The main consequences is that you dad are NO longer insured once a policies terminated.

Best you gather all the policies and investment statements from each insurance policies and study them.

There are many types of insurances and each may have different clauses in terms of termination; being that these policies may be old, their termination clause may be very well different than the current ILPs.

Hi all insurance sifu,

I just got to know that one of my neighbour's relatives were in the MH17 plane. May I know which insurance companies in Malaysia provide claims due to terrorism? I would like to know for death, accidents or even medical claims.

Nowadays terrorism happens quite often, better to get one which covers it.

Hope all sifu can advise.

That's right, many agents just keep on talk about the cash value to me..
but in fact, the insurance charge is the most important item in that list...

I got another fren (agent) that try to persuade me to change to Allianz as they offer better medical coverage..
this make me confuse which 1 company is better in term of medical card...

Actually, in my opinion, most of the big insurance company providing almost the same medical coverage.
Some cheaper due to having some constraint, some more expensive coz no constraint.
It is actually depending on your own priorities, with the budget, and also the professional service the agent will be able to provide to you.
Usually, people don't buy CI over 100k la...coz very expensive.
And as far as i know for Prudential, CI is not tied with Death / TPD.
Maybe some other insurance does that.

And one more thing, since you are very unsure about your current package, why not cancel it within your 30-days free look period?
Then ask for more opinions, to see which type of coverage suit you best, then purchase a new one?

ALL life insurance cover ALL causes of death EXCEPT for suicide within 12 months from the inception of policy, whereby a refund of premium will be paid. If suicide occurs AFTER 12 months, the FULL amount is paid.

HOWEVER, personal accident assurance usually DO NOT cover terrorism.

Medical insurance however has an exclusion as below... (it's usually the same for most company, though i notice AIA didn't put in "criminal or terrist activities") which i would understand it as only to exclude me if i'm terrorist, not if i'm a victim... but this may need an expert's view.

War or any act of war, declared or undeclared, criminal or terrorist activities, active duty in any armed forces, direct participation in strikes, riots and civil commotion or insurrection.

Also... the possibility of ONE being in the fire path of terrorism (excluding in high risk area) is still very very low to warrant real worry.

This post has been edited by adele123: Dec 5 2014, 03:16 PM

well it's really up to your preference if you need to do a comparison can request a quote from me so see the difference between GE and Allianz's medical card so that it's not biased.

When you travel, you can add on terrorism coverage to the travel insurance (with extra premium of course).

The basic travel insurance does not cover terrorism.

/Syukur Malaysia masih aman...

This post has been edited by roystevenung: Dec 5 2014, 10:58 PM

2 policy fees for 2 policy. The rest should be the same unless the policy is giving Large Sum Assured Discount.

For your case, you need 2 policies to avoid Non-Medical Limit, or else you will have to go checkup for 800k sum assured.

Great Eastern do paid for the MH17 and MH370 client who bought life insurance with us. I'm quite sure the whole industry's insurance do pay for the MH17 and MH370 as goodwill basis, correct me if I'm wrong.

In my opinion, your policy is not-too-bad, don't feel too disappointed and bombard your agent.
Most of the insurance company's medical card is almost the same but we should look at annual limit as benchmark as this is the money that permitted to withdraw from my medical card annually. It works almost the same as credit card's credit limit.

These are my recommendation.
You might can cut off the huge Life/TPD to maybe RM100,000 because you are still single and do not have much financial obligation.
You might can cut out the hospitalization income of RM50/day as it doesn't help much.
You do not have to increase your medical card room&board, because shall you hospitalize, you can just top up your hospital room&board and pay the difference, there will be no penalty of increasing room&board in Great Eastern's Smart Medic Xtra. Annual limit is the most important element medical card, I strongly believe RM990,000 annual limit is sufficient for most surgery even after 30 years.
For example: You live in Prince court hospital for RM300/room for a week and your bill is RM500,000. Under your medical card, you only have to pay (RM300 - RM150) x 7 = RM1050 and your bill of RM500,000 will be paid by Great Eastern
.
Maintain the waiver of TPD/36 Critical Illness, you do not want to seek for funding to pay for your insurance shall you really strike with 36 Critical Illness don't you? In my opinion, this is one of the most important rider as this rider makes the medical card use-able without premium from the day client have 36 Critical Illness until the patient pass away or medical card termination date.

[quote=ExpZero,Dec 6 2014, 06:32 PM]
2 policy fees for 2 policy. The rest should be the same unless the policy is giving Large Sum Assured Discount.

For your case, you need 2 policies to avoid Non-Medical Limit, or else you will have to go checkup for 800k sum assured.

Need more clarity.
2 policies from 2 different insurers is what u suggested?
Since risk object same, no difference for n policy from same insurer and single policy from same insurer, right?

For 800k of sum covered, what are the test will be conducted?

Hello all, I was wondering which is better for my case. Investment link protection (Takaful) +medical card or just buy a medical card alone and use the remaining money to invest in other places. Im 23 years old.

The quotation I received for the first choice is:
Rm4k p.a.
Rm500k Sum Covered (Rm762k by the end of 30 years).
Rm162k Saving by the end of 30 years.
RM100 room.
Rm75k limit medical cover per person per annum (For me and my spouse).
Unlimited life time limit.

Please help! Thanks

This post has been edited by Cubed1437: Dec 8 2014, 03:10 PM

Getting a life insurance and medical plan is a life time commitment. Standard alone maybe cheaper, but they may not guarantee renewal or the coverage are much lower then the Investment Link Plan which most of us had ignore. (You get what you paid)

I can see you opt for a high Life Insured/Sum Covered of RM500k, hope this is due to you have high commitment to your family and maybe a property. So in case any bad thing happen, your family are protected and the property are taken care off.

But for the medical part, it seem imbalance, you put heavy on life, but minimum the medical. Which for R&B of RM100, hardly get a good room (double bedded room) in normal private hospital.

Recently Allianz had phase out plan 100 and put minimum plan to 150 due to RM100 Room & Board are unrealistic to get a proper room in these rising of living cost & medical cost. Customer with plan 100 may end up require to top up/upgrade in order to admit hospital.

I will strongly suggest you to get at least 150 R&B with higher limit. Also be mindful we can only upgrade our medical plan when we are still strong and healthy. I had some client, they gonna stick to their current medical plan rest of their life due to they had diagnose with hypertension/cancer/diabetes and etc. Unless they fully recovered and strong and healthy as the time they sign up.

P/S: For your age, RM4k p.a is at the high side. You should able to get much much more cover then what you mention.

Premium 4k per year? That’s a lot of money. Try to bring it below RM300 a month. Well… you are 23… I assume you don’t earn > 5k a month. But if you do earn a lot, well, it’s still a lot of money.

RM100 Room & Board is very little though it depends where you are from. 2-bedded room cost about RM110 in my hometown… so…

Next… is this AIA takaful? Are you sure the limit is 75k per person? Are you sure the lifetime limit is unlimited?

Next, do you have housing loan or do you have dependents? 500k is A LOT of money to be paid to your family. Unless you have many kids or your spouse has no earning power or there’s a house you want to pay off with. In short, 500k is A LOT for a 23 y/o.

Thanks for the reply!
For the medical part, Ive asked my parents (who are doctors) and they say, for young people, there's no need for a really high medical annual claim. Below RM100k is sufficient. As for the room, I can simply topup by using my own money for a better room. So what they say is R&B is less important, the important part is the annual claim.

Is it not possible for me to take this plan now, and then upgrade to a higher claim in later years?

Also, the 4k p.a. is for life, medical card and investment. Is that still on the higher scale? What are other plans that are better (takaful)? Thank you!

Since the medical card covers me and my wife, our incomes are being used for the plan. Hence it is around 10% of our income.

Yes, the R&B is on the low end, but since I am in my younger years, I was adviced to take the lower medical claim i.e. 75k per annum. Thats the RM100 R&B, which I think can just be topup if I want a better room.

Yes, AIA takaful, 75k per person. Lifetime is unlimited. I am sure of those. (I read the whole quotation given).

I am planning to get a house in the near future. I have a spouse now and possibly children in the future. I was thinking the 500k is for the long term, long till the time I die. Would it be better for me to take a smaller sum covered and increase it later in the future?

1. some other final comments just to make sure you are aware... of what i know of aia takaful product, the medical covers both of you, but NOT the actual life insurance portion.

2. i think it's more cost effective to take a smaller sum now, and increase the sum assured appropriately in future (some would want to factor-in EPF, savings as part of how much i need to cover house loan upon untimely demise).

you can take a sum assured equivalent to the house loan, i just think one doesn't always have to if the spouse is capable or supporting himself/herself. though it does help to reduce financial burden.

oh well, i feel like you have done your homework.