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Insurance Talk V2, Anything and everything about insurance
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3antz
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 Jul 24 2014, 12:20 PM
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Getting Started
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Hi, I was recently quoted for an insurance policy for RM200/mth. It's a SmartProtect Essential Insurance 2 from GE.
details below :
death benefit : 12k
life/tpd : 12k
accidental death : 10k Medical reimbursement 3k/yr
medical : 150 R&B limit initial overall limit : 90k
mmm, at first glance it seems the coverage is very low. For a 200/mth policy are the above standard? this is also an investment linked policy.
Appreciate your advice.
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3antz
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Jul 24 2014, 12:26 PM
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Getting Started
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QUOTE(ExpZero @ Jul 24 2014, 12:24 PM) Hi, We would need your gender, occupation and date of birth to advise further. sure, am a male, IT job and 30 yrs old come august. thanks. |
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3antz
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Jul 24 2014, 01:37 PM
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Getting Started
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QUOTE(zest168 @ Jul 24 2014, 01:10 PM) I believe RM200/mth or RM2400/year premium for a 30 yo male can buy you a much bigger sum assured than just RM12K. As this is an investment linked policy as mentioned, that means a larger chunk of the RM2400 yearly premium goes into investment. So question comes back to you whether you are seeking insurance coverage more or investment for the RM200 savings that you paid into the monthly premium? Thanks for your input. To be honest I'm not interested in the investment portion as I have a few other investments at hand (UT). I would like my insurance to be fully medical coverage + savings. Do you know if that is at all possible? It's my first policy so please excuse my ignorance.  Do you have the range of coverage for a 2400 p.a. premium? |
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3antz
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Jul 24 2014, 02:05 PM
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Getting Started
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QUOTE(conqu3ror @ Jul 24 2014, 01:50 PM) To be honest, you can just ask the agent show you in the computer screen to check range you can go for the rider with the premium. The quotation is generate by the system, is hard to tell the precise range. As others mention, for your age and occupation with RM200/mth, the coverage is really low. You should able to get better protection with same premium. Thanks. that was my impression too. 12k is really really low. |
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