Earlier thread was closed by admin since it has exceeded 2,500 posts.

Kindly reply to this thread if you have doubts in insurance. Thanks!


This post has been edited by roystevenung: Dec 1 2013, 09:46 PM

Congratulation on V2.. Hope that all forumer can have better understanding in Insurance..

Although Alopecia Areata is not a life-threatening disease. Alopecia areata is not a painful disease and does not make people feel sick physically. It is not contagious, and people who have the disease are generally healthy otherwise. It does not reduce life expectancy and it should not interfere with going to school, playing sports and exercising, pursuing any career, working, marrying, and raising a family.

Nevertheless, it's always advisable for policyholder to fully disclose all the current medical state to insurance company's underwriter for a accurate and headache-less claim in the future especially since Alopecia Areata can be seen physically. You wouldn't want future claim to be rejected aren't you?

If the underwriting department would need further clarification from the policyholder, it will issue a further query or a checkup from medical officer in panel clinic to determine the severity of the disease.

Insurance is about utmost good faith, policyholder are obligated to declare every known medical history of them to the company, or else the contract is void-able.

I have a question.

I have a Life+TPD+36CI whole life/endowment policy.

When I buy it, I not a smoker.

Let's say I did not declare it and I fell ill/die of smoking-related illnesses, will the insurer:
(a) void the policy, just pay the cash value, or
(b) adjust backward and deduct from the payout the additional premium I'd have forked out had I declared properly?

I think to be FAIR, it should be (b) lor...

This post has been edited by Pink Spider: Dec 2 2013, 01:57 PM

I personally do not have such issue happen within my client based. Nevertheless, I have nbtd and called to Great Eastern Customer Service and the Customer Service officer is recommending me to declare the smoking status.

However, I have asked Customer Service, what will happen shall the client did not declare and pass away due to lung cancer? CS told me that it is claimable with (b) option AFTER investigation to proof that the case is not non-disclosure.

However, this is the result from GE, other company might not have the same practise.

I understand that Insurance is generally associated to long-term commitment.

However, am wondering; is there any TPD insurance plan that caters for specific situations?


Coz here's the thing; my father-in-law will be undergoing Lasik surgery, and even though the Doc mention that there are no known cases of people going blind due to the procedures, I would want to be proactive.

As such, I plan to take TPD insurance plan for him, for this specific matter only. i.e once after the procedure is done, am not continuing with the plan.

Is it possible?

What mean by "not non-disclosure"

Meaning to say you are genuine(non smoker) at the time of purchase and not miss-representatives. You may call Great Eastern yourself to clarify 03-42598111.

When I bought the policy it was 2008, I 2012 baru start smoke

congratulate on v2 ^^

Just wondering does being an insurance agent required to go for exams in MII ?
And also what difference does having certificate with not?

Many "part-timers" just out of secondary schools are recruited and i doubt they have gone thru exams, correct me if im wrong.

Hi, all contracted agents must seat for basic exam thru MII.

I am looking for insurance plan for my father age 68.

What is the most suitable plan for him?

Thanks

Which one is that?
And how much is the fee to complete it?

Hi, is there any AIA agent here ?
Yesterday AIA telemarketer called me, and introduce me a PA plan 'Premiere PA'. Any idea what is that ? Couldn't find related info in website.
Thanks!

To get contracted as insurance agent, thry must go thru Pre-contract Examination (PCE)
I think around rm 90 for computer exam

At the age of 68, it really depends what type of insurance you looking for. Life, Medical card, PA or etc.

Honestly, it will be a challenge and quite expensive to get insurance at this age.

Hope you can provide more detail.

It's all depend on the doctor and insurance company's investigation result

All the agents including part time who look like just out secondary school would also took the same exam in MII to be a legit insurance agent. Unless the person works as referrer only.

It cost RM175 for both PCE + CEILLI exam + another less than hundred bucks for takaful.

I think it would be medical card. Does Allianz have medical card for the elderly?

Looking for annual limit circa 100k

PruSenior med
-----------------
http://www2.prudential.com.my/corp/prudent...useniormed.html

Medical RM250k annual limit RM1.15 million life time limit
CI RM70k
PA RM180k

Any quote from Great Eastern for this?

Allianz Medical have no annual limit, higher lifetime limit but lower in Cost of Insurance.

Hi all, just to share..

26 years old, my current Insurance Policy as follows:-

Premium: Previously RM150 per month (3-4years ago when I just started working), just topped up this year to RM550 per month (investment linked) after income more stable and just bought a new property.

Life/TPD: RM400k
Accident (Death/TPD): RM200k + Medical Expenses RM2k + Weekly Income RM300
Critical Illness: RM90k
Early Critical Illness Protector: RM70k
Medical Insurance: R&B RM150/day, Annual limit RM62.5k, Life Time Limit RM625k
Hospital Cash Income: R&B RM150/day, ICU RM100/day, Surgical Procedure RM2.5k per surgery

Projected Cash Value by the time I reach 54 years old: RM240k+

Note: I am also covered by my company;s medical benefits but the coverage is minimal.

Any comments would be highly appreciated.

Prudential plan

Not sure if you need that much of Life coverage.

But your medical coverage is not enough. R&B of 150 most likely can stay in a 4 bed sharing in private hospital, then annual limit is too low. Recommended to increase to 200k.

CI is not enough also. Try to use the most basic calculation for CI coverage which is 3 times of your annual income.

With premium of 550 monthly and your age, should be sufficient to increase the medical and CI coverage.

Purpose of insurance is to get yourself cover from any risks. If your coverage is insufficient (for medical cost), then you need to pay from your own pocket, perhaps you need to withdraw from the cash value. Don't expect too much on the cash value, some more it's projected.

How much is too much for life coverage?


This post has been edited by kentiong: Dec 11 2013, 01:08 AM

Dear Almeizer,

My life coverage is about 2/3 of my housing loan amount. I think it will be sufficient for many years to come until I have dependents and more housing loan

My company's medical benefit, amongst others, cover 150/day for R&B and 20k annual limit. For now, I believe my medical insurance is sufficient to cover the shortfall to stay at a better hospital, if necessary.

And yes, I think the CI coverage is a little low. Next time when I decide to review my policy (probably in the next 3-5 years), I'll keep in mind on my CI coverage and annual limit. Or do you think I should get it adjusted soon (without increasing my premium-is that possible?)

Yes, I am aware it is projected only

Many thanks for your comments.

Best Regards,
AJ

Calling ExpZero or any GE agent...

Is it possible to go to any GE office to amend my policy (reduce Life+TPD Sum Assured + include a new rider, namely SmartMedic)? Will it be more troublesome (needs more documentation, I need to bring along my policy etc) compared to doing it thru my agent?

My agent is outstation most of the times

Pls advise, thanks

Hi,

Are you sure your RM550/month is investment link and not traditional? It looks a bit low in protection despite high premium. I guess most of your premium went into cash value

However, I'd advise if possible to increase your Critical Illness coverage and Early Payout because we do not want to continue pay the house instalment shall we are having difficulty right?

Furthermore, please check with your insurance company either you can claim the leftover bill from your company's medical card. As far as I know, some company don't allow that.

Just a simple comparison for the protection you are having with Great Eastern.

Life/TPD: RM400k / RM500k
Accident (Death/TPD): RM200k + Medical Expenses RM2k + Weekly Income RM300 / RM215k + Medical Expenses RM3k + Weekly Income RM350(Temporary Partial Disability) + Weekly Income RM1500(Temporary Total Disability)
Critical Illness: RM90k / RM500k
Early Critical Illness Protector: RM70k / RM500k
Medical Insurance: R&B RM150/day, Annual limit RM62.5k, Life Time Limit RM625k / R&B RM200/day, Annual limit RM120k, Life Time Limit RM1.2m
Hospital Cash Income: R&B RM150/day, ICU RM100/day, Surgical Procedure RM2.5k per surgery / R&B RM200/day, ICU RM400/day

Projected Cash Value by the time I reach 54 years old: RM240k+141k

Every company have their Pro and Con

Hi Spider ,

I'd advise you to request your agent to generate the "new quotation" using "ILP Calculator" for your alteration before you head to the branch.

Eventhought it can be done in Branch, but it's better for you to read through the amendment first(and you are statisfy with it) because if you have amended too low premium with too high protection(vise versa), it can't be done. You may request him to forward you via email before going to Great Eastern.

Sometimes if you straight head to branch, the Customer Service will give you a form to fill up for the alteration without checking the system whether this alteration can be approved. Upon successful amended, they will send a letter to your house. However, if the amendment is failed(too low premium with too high coverage), they will send you another form to re-submit(yeah, I know your feeling).

I wish I can help you to generate but I can't because I can only generate amended quotation for my own client due to Personal Data Protection Act.

I already know how much/what to amend, he already given me the ILP-Request for Alteration form.

It looks like this:

bla bla bla
bla bla bla

[ ] Increase regular premium
[ ] Maintan regular premium

Okay, I don't think need additional document if you are heading to the branch compare to doing it by your agent. You will need 3 forms, the CS will advise you better what form to fill up and how to fill up when you are there.

Remember to tick the "maintain regular premium", else it will increase it

Thanks ExpZero

I will find time to meet my agent and reassess my coverage again, without increasing my premium

any one can tell me what is co-insurance?



This post has been edited by streetglow: Dec 17 2013, 11:19 PM

Hi There ..
I'm a foreigner, working in IT, 40 years old.
Looking for Medical Card insurance for my family (wife + 2 kids).
Can anybody (AXA, Prudential, Great Eastern, Hong Leong, etc) give quotation?
I already have Life Insurance under GE.
Please PM me.
Thanks in advance.

Cancellation of policy (without going thru agent)

What's the procedure?
Ok, I think I need to bring my policy document, go to the insurer HQ/branch...

Then when I can collect the payment, I need to go there and sign acknowledge receipt? Or I can ask them direct T/T or GIRO to my bank account?

Summon ExpZero, it's for my GE ILP

This post has been edited by Pink Spider: Dec 16 2013, 02:28 PM

Co-insurance mean the co-payment you need to pay during medical claim.

But these day most of the company had waive the co-insurance.

Hi Roy,

Can I check with you on this? Does Prudential allow? Thanks.

Yes, suppose the bill is RM 50K and your company insurance only covers for RM 30K, you can claim the balance of RM 20K from Prudential.

Do note that the RM20K will need to be paid in cash as settlement to the hospital for discharge and then only claim from Prudential.

Calling Allianz agents, pls quote me:

Investment-Linked Policy:
Medical card with room & board RM200-250
Minimal Sum Assured on Life+TPD (I don't really need this, keep it at bare minimum...RM10K?)
Premium waiver on TPD AND/OR diagnosis of Critical Illness

That's all I need. PM me the monthly premium required, if I'm interested I will give u my e-mail to send me full product illustration and relevant brochures.

Unker roystevenung, u dun mind me shop around dulu har?

GE agents need not apply, I already have GE quote. I only want Allianz for comparison now.

This post has been edited by Pink Spider: Dec 17 2013, 03:04 PM

Bro, mind to tell your age, occupation and smoker?

Normally with Allianz Medical Card 200-250 monthly will be RM250-300. Of coz for age below 25, then will much cheaper.

Allianz have no annual limit, never worry of shocking medical fees.

1984
Smoker
Accountant

Err...*re-emphasise*

I don't NEED the life+TPD coverage, reason why I chose ILP over stand-alone medicard is just for the premium waiver on TPD/36CI.

Bro. although stand alone is much cheaper and guarantee of renewal. But be remind the exclusion clause of standalone plan. Some had experienced, insurance have the right to exclude or reduce some of the coverage once you claim something.

I said I DON'T WANT standalone lar. Bro, bahasa England ada pass tak? sorry ar just kidding here

Haha, thats funny
Sorry lah, I just explain little bit only
No offense

Deleted

This post has been edited by conqu3ror: Dec 17 2013, 05:56 PM

Depending on your preference & budget . . . . an investment -link med card can be as low as RM50,000 coverage p.a
& can goes as high as RM200,000 p.a

Anyone know about the new Allianz enhanced medicover?
What is the cost of insurance compared with the normal medicover?

Enhanced Medicover are attached to Powerlink. Etc Powerlink's rider. Unlike old plan, Powerlink monthly premium are fix for every year.

It need to get qoutation & advise from agent.

You can contact me for more details info.

Just did a comparison for Pru & Allianz medical card

Premium
Allianz: RM 1900
Enhanced Medicover covers up to age 91
with waiver of premium
life coverage 71k (cant reduce due to system constrain)

Pru: RM 1950
PruFlexi Med (RM300 deductible) covers up to age 80
annual limit 100k
with waiver of premium
life coverage 10k



Disclaimer: For more detail and accurate benefit of the insurance policy, please refer to the actual quotation.


Do you have the cost of insurance table for old medicover ? If yes then I can do up a comparison as well

This post has been edited by financialfreedom: Dec 18 2013, 01:36 AM

So, your opinion is?

Powerlink is an investment-linked plan, so the premium is not fix... It is subject to the cost of insurance and cash value in your account.

For example, Mr. A bought a policy at age 30 with RM3000 premium
At age 60, the cost of insurance might be RM5000, so the difference of RM2000 will be deducting from the cash value. If there is no more cash value inside the account, Mr A have to top up the difference, ie paying RM5000 or else the policy will lapsed.

Depends on your preference, there are few key things that you need to consider

1. Annual limit
If you think that it is possible to have medical claim of RM 100k and above, you may consider Allianz

2. Coverage term
For Prudential, you can choose to cover up to age 70, 80, 90, or 100. However the price also skyrocket for longer term.

In this comparison, I choose up to age 80 and RM 300 deductible, to have the similar premium for comparison purpose. To cover up to age 90, the premium cost more than RM2600

3. Room & board limit
if you are die die also want to stay in single room type, Allianz might be more costly due to the co-insurance of 20% for staying in room that exceed R&B limit, so you may consider about Prudential which you just have to top up the difference

4. Co- insurance & deductible
Allianz: Co-insurance means sharing the cost with insurance company. If you stay in room that exceed the R&B limit, you have to bear 20% of the total medical bill, up to maximum of RM1000.

For example, your R&B limit is RM200, but you stay in room that cost RM250, and the total bill sum up to RM10,000

you have to pay RM10,000 x 20% = 2000,
but max is 1000, so you have to pay RM 1000

Prudential: there is deductible of RM300 in this plan that I choose for this comparison purpose, which means that you have to pay RM300 everytime that you are hospitalised. There is option to opt for 0 deductible, however, the premium is roughly RM300 higher.

In short, I would say Allianz would be better choice if you don't mind staying in 2 bedded or 4 bedded room.

But from your analysis, I see that Allianz only have 1 benefit - no annual limit

No annual limit is quite useful, since buying insurance is about transferring risk to insurance company, so it is good that you dont have to pay so much in case the medical bill is more than 100k. Especially when this feature is included with premium which is similar or even lower than other insurance companies.

In fact, Prudential also have this "Annual limit waiver" rider for Pruhealth medical card, but it is costly to addon that rider.


I think cost is a crucial factor, although premium is not guaranteed and insurance company may increase it anytime just by giving notice to client, but currently, prudential cost is really much higher for the same coverage term.


*no offence to pru agents @uncle roy, just pointing out facts that i know, do correct me if i'm wrong.

summoning roystevenung

If I would like to stop insurance charge (as I am going to terminate it), how long does it take to take effective? Can I call in to CS to stop or must I submit form?

For Prudential you will need to bring the policy document to the counter to surrender the policy. There is a form that you need to sign.

The counter customer service will guide you.

This post has been edited by roystevenung: Dec 22 2013, 10:44 PM

Hi,

Wondering if someone can refer me to a good agent in KL. Planning to get insurance (medical card) maybe from AIA, Great Eastern, Allianz or Prudential.

27 years old, non-smoker, admin work

Maybe something below RM200 per month if possible.

Thank you.

Hi,

For AIA's A-Plus CriticalCare, is it that the sum assured for the CI will increase 1% per year?

For example, If I purchase A-Lifelink 380k + A-PlusCriticalCare 100k (both with 1% anniversary bonus, max 20%) after 30years, the sum assured will be:-
380k*1%*20=76000 + 380000 = 456000
100k*1%*20=20000 + 100000 = 120000

Is the above calculation correct?

Btw, any reason why AIA cash value higher than GE at 30years~?

This post has been edited by HMMaster: Dec 28 2013, 10:29 PM

Yes. Is correct (plus fund value) if it happens on year 21 and onwards.
If claim 36CI and death a few months later, remaining 336k + fund value will be payable.

Future fund value or cash value at 30 years can be affected by
1) Projection rate
2) Cost of insurance
3) Other charges like fund management charges, policy fees etc.
4) Projected by monthly premium or yearly premium
5) Regular top up

Comparing the few points above, you will get your answer.

Thanks for the explanation.

Do you all request free gift (book, umbrella etc) from your insurance agent ??
Every year??

Any Prudential agent here, want to ask somethings, my sis bought a Prulife Ready plan, medical card room & board RM 150, what happen if she stay a room higher than that amount??

PRUlife Ready is the main plan and not the medical card.

For PRUflexi med medical card, if you stay at a higher room, you only need to pay the differences, no penalties. If you stay at a lower room, Prudential will reimburse the differences to you. Eg. If you stay in rm100 room, Prudential will pay back Rm50 per day.

For PRUhealth medical card, if you stay at a higher room, you need to pay the differences, no penalties. But if you stay at a lower room, Prudential will not reimburse to you the variance.

Hi...nothing related to insurance...but just wana say I'm quite impressed with prudential mutual investment team aka eastspring investment ... their unit trust return on some fund is phenomenon n beat unit trust industry standard....

Hi just like to know the price for a top notch medical insurance package i'm looking for. I want a package that cover medical, a package that give me a medical card. A straight foward agreement that will pay all my hospital fee & room & not a package that is full of things in the Term & Conditions sections, like this don't cover that don't cover full. In the end i am paying for a package that don't give me much benefits.

Hi there,

TPD is a by-product of Life Insurance. Meaning, you need to buy Life in order to buy TPD. And, insurance is usually referred as a long term commitment in terms of investment returns/ surrender value. If you only want to be covered, having cover for a short period, does not affect you.

In your father-in-law's case, in case if only one eye is affected, then again TPD will not work. (Please do check the TPD description before you buy).

If your father-in-law having life policies, he could have had TPD (subjective) in it - do check the expiry of the coverage.

Thank you.

Regards.

Hi,

I also wish there is such a plan but I am afraid that is not the case. That is why you need to choose carefully. The best I have come across so far is unlimited cover and renewable till age 100 but there are other conditions definitely!

Well, I was told if insurance companies were to run no limit & all cover medical card - they will end up bankrupt in no time!

Thank you.

Regards.

Hi there,

Your calculation is correct and it increases gradually 1% from the beginning of second policy year and by the beginning of 21st year, you will have a Sum Assured of RM 456K for life & RM 120K for Critical Illness. By the way, AIA has Critical Illness cover that pays up to 3 times and also Early Pay Critical illness Cover (in case you have not heard of it).

I am not sure why you refer to 30 year but generally returns is based upon underlying fund performance - whether you want it to be aggressive, moderate &/or mild. Also, the returns you see in the Proposal is a projection. Actual performance may vary. You can also monitor your fund performances and in case not satisfied, you can do fund switchings.

Thank you.

Regards.

No - but I wish they send. Only received it in the first year!

Hi, I guess the Premiere PA is not sold through agency as I do not see it in the list of products.

Thank you.

Regards.

I bought insurance from my cousin's friend.
The agent gave book/umbrella to my cousin but no give me
Maybe because of my cousin pay insurance by cash, so the agent have to come collect money from him every month.
I paying using credit card

I guess I have to make a call to that agent...

I didnt know that we can actually request for all these goods. Okay calling my agent now

Hi Guys,

Agent quoted me the sales illustration as attached image.
Anyone why is it a investment portion in one of the sales illustration?

Thanks

This post has been edited by clsia1001: Jan 17 2014, 10:19 PM


Attached thumbnail(s)

Wondering if anyone can comment on my situation. I currently do not have any outside insurance plan except from my company. I'll try to describe my situation in the least confusing manner as possible. My current age is 35.

July 2002:
Started working with current company, I have AIA card, good medical plan in general.

Feb 2014:
Expected my last at the company since I'm planning to pursue my study overseas, will have to hand over my AIA medical card.

March 2014:
Start of period without medical card.

September 2014:
Expected to begin studying at US university for my Masters, I will be forced to buy university-sanctioned medical plan as requirement for any new students.

June 2016:
Anticipated time of graduation from US and return to Malaysia to work, I assume my future company that hires me will also offer medical card similar to AIA that I had previously.

How often have I used the AIA medicall card from 2002-2014?
Not often, once every 6 months maybe, for regular fever or flu, never been warded, paling teruk pun just injection for severe tonsilitis.

Do I have a family?
I am single, unmarried.

My question:
If I want a medical card to cater for normal fevers, and God-forbids, critical illness, I presume at my age, it will be RM350/mo premium? Correct me if I'm wrong. What would be the strategy if i foresee that I'll be having university-sanctioned insurance while continue paying RM350/mo to Malaysia just to "maintain" a medical card here? Or should I just get a medical card when I return to Malaysia in 2016 at age of 37 and presumably pay RM400/mo for medical card by then?

why u take bonus then resign from ur company?

its up to you . . . you can sign up a basic plan while maintain it for 2 years until you are back in Malaysia
or wait for 2016 & purchase when you are back in Malaysia.

Insurance charges for 35 / 37 will not increase as much as what you have describe but in order to get a medical card
you have to make sure you stay healthy for the 2 years . . .

Sorry I don't get you. What bonus you talking about? This is purely about medical card.

Thanks for the opinion. By "basic plan", what does it entail? More importantly, the estimated annual premium for 35-yr-old male like me.


By "not much", can you say the increase is probably around RM20-RM30 per month from 35 age to 37 age? Also, is there some sort of medical checkup before I can get a medical card in Malaysia at the age of 37?

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.