no insurance company gonna cover those things directly. at most maybe it can be covered under your employee's benefit. but everything has limitations...

insurance aren't meant for such benefits, at least not one you can abuse. insurance companies ain't stupid.

This post has been edited by adele123: May 23 2014, 07:01 PM

you are asking a very weird question...

BTW, renew online la... so easy. can pay by credit card somemore...

i'm sure the insurance company has some auto debit way, via phone or online, etc... if they don't have... then i'm not too sure. anyway my point is... i think you can renew on behalf, cause just pay only, go to insurance company usually can settle. whether you earn the commission or not is another story.

if want jadi agent... then properly do it.

if you are looking for standalone CI plan, i know of some options...

1. Ceria Malaysia
This is offered through banks (of course still underwritten by life insurance company) in malaysia, but i'm not sure the average bank staff even knows about this.

few things to take note:
a) premium increases every year, and coverage is only up to age 70.
b) most life insurance company can offer flat premium, though contractually they can increase the premium (if you buy as a rider). also the coverage can be up to age 88, not sure if higher is possible but mine is up to age 88.

2. purchase from general insurance company

sample 1

this is just one example. take note that it doesn't cover up to certain age. so... depends...
_________________________________________________________________________________________
WHEN it comes to CI there's really not much difference in terms of feature. they all cover the same 36 CI. The difference that matters is something called 'early' pay and 'advanced'.

Early means like early stage of the disease. the usual CI insurance actually doesn't pay the Sum Assured unless it's advanced stage of the disease. This probably can check with AIA agent or the other few bigger ones. They will have both.

A. aia early critical care
B. aia critical care

Can ask some of the agents here to introduce it to you. basically all of them out there selling the things that are quite similar to one another. don't get trick by whatever 90-100 illnesses cover. it's pretty much covering those similar diseases. the major obvious difference is either the type A or type B

PS: i didn't read everything, i'm just throwing the links out here to make it easier.

Psst... you know... before you receive the policy document, your agents supposed to give you something called
1. Sales Illustration
2. Product Disclosure Sheet

those are documents that should give you plenty of info as well. if you don't have those... hmmm

Medical 150 is very little considering you are paying alot... 92 diseases? like i said, tipu orang. like saying... seedless and with-seed watermelon are two different types of fruits.

Replies in red...

The idea of Medical Card is to indemnify your loss, NOT to make you better off than before. So is car insurance, and many other general insurance.

if anybody tells you they claim twice...
1. they BS-ing
2. they overused the limit
3. fraud???

EXAMPLE...
Company A annual limit is RM100k
Company B annual limit is RM80k

You have medical card from both companies, but you hospital bill is RM150k, then YES, can claim. but procedure may be a bit ma fan cause spread across two companies...

More likely why you need personal medical card is because when you get older, chances are, it gets harder to get approved for medical card when you are 50-ish, 60. my aunt's case, got rejected, but no choice, once you have either high bp, diabetic or whatever... chances are, it will be rejected.

Some insurance company hire really good investment ppl. They can perform as well or better than UT companies.

Just saying... Though i agree not insurance is meant for protection

Like buying apple in the market lo. lowers down the average price... though i'm not sure how cheap is cheap. not my problem to do comparison.

though i don't totally agree it's THAT good...

example,
so really that unlucky, let's say husband and wife end up in the hospital in the same year, then later hit annual limit...

so really depends..

Just to clarify:
There are two types of investment-linked plan
A. pays 1) + 2)
B. pays the higher of 1) or 2)

the reason why the other two guy only say type A is probably because their insurance company doesn't offer Type B.

My guess is Type A is way more common than Type B.

This post has been edited by adele123: Jun 3 2014, 10:43 PM

BTW... Medical card only until age 70? Seems too soon. opting for those with deductible will lower the cost.

also i don't speak pru language, too confusing at times. but enhanced prupayor basic is already your premium waiver upon diagnosed with 36 CI. you will be getting the lump sum amount if you get diagnosed with 36CI. No point in getting a rider to waive premium. This benefit can be costly, considering he quote RM1k per month means RM12k per year as well. Age 36, and if you are a guy, it's not cheap.

plus i don't get why another premium waiver upon TPD or 36 CI. if kena TPD or 36 CI, you will get the 500k anyway... again pointless

whatever that you can separate it out, you should really consider to cancel (except for the actual medical card and 36CI). they simply add all these rubbish cause the company teach them to sell like that.

stuff like PRUacci Med will overlap with the normal medical card. i'm guessing it's additional coverage if result from an accident. no point since you already have existing medical card.

and i wonder what is prumed? 2 units? if i remember correctly it's some additional cash if you are hospitalised or something... which seriously it not needed. you already have the R&B. unless you stay in rooms above your R&B rate.

I'm sure your friend can give you a quote, with less of those frills... and still give you high enough medical coverage.

No i'm not an agent. not a planner. i should be honest upfront i'm not super well verse with every insurance plan out there. that would be not logical. i don't speak any company's language...

I'm not putting Pru down. Having said that, every company train their agent to package and sell to their customer.
Without seriously considering they need the benefit or they don't need the benefit. just because they are trained so. can't blame the companies, cause agents are new, package for them, easier to sell and also bring in more business to the company. like airasia, ask you choose seats, buy food, add luggage. sometimes you really don't need to. unlike airasia... normal ppl out there won't know what is good what is not.

Trust me, if you give all this insurance company quote to any my friends, not matter how smart they are, engineers, doctors, what not, they won't get it without having to ponder on it longer. what is investment-linked? coinsurance? deductible? insurance charge? accelerate? driving meh, accelerate...

you are so pissy... and i don't think he read my post too much.

i think zest168 explained better than me. i admit.

example of redundancy...
PruacciMed - you said can claim if let's say it's minor accidents... and sometimes no admission or even admission you don't want to touch the limit for medical card. fine. BUT this is redundant for someone someone who can claim from their company. now... TBH... everytime you recommend this to your customer, have you consider whether he/she can claim from the company?

zest168 is also right about understanding how crisis shield works. if i remember correctly, crisis shield accelerates from prulink one. so my question for you...
if after kena CI (i assume crisis shield amount same as life), sum assured = 0, then your enhanced pru payor basic also kicks in... BUT... if sum assured is zero... do you still want to maintain the policy? yes, because of your medical card... but do you still need to pay 12k a year, since your sum assured =0? of course, the money still belongs to the life assured... but i'm going with what we need and what we don't need...

and i might not know the price (refering to enhanced pru payor basic) but logic says, it's not cheap, 12k a year, 36 y/o male (even if NS). 36 not old... but not young either... and sadly Male rates for CI related tend to jack up faster.

i'm not a sales person. never have been. but i admit i could have been more thorough while typing my previous post.

but i'm also under the impression that ppl who comes to this forum have done their previous homework.

my example was under the impression that this crisis shield from pru reduces the Sum Assured upon CI claim. means even life and TPD coverage is no more.

i am just saying that if say Sum Assured = 0, then assuming you have no other benefits covered aside from medical card... then waiving the full premium amount more than what is necessary. though no doubt, the money still belongs to the life assured. the cash value is still beneficial at the end of the day.

i don't mean to say use the sum assured to pay for the insurance since i believe the point of the sum assured was to treat whatever CI that person has.

for your premise or your employees or what???

there are many takaful companies out there... you are bound to find something especially many companies are working on expanding their takaful arm.

1. No medical checkup required for PA plan is really no big deal. i haven't heard of any that needs medical checkup. After all, the point of it to cover anything that results from accident.

2. and i was wondering for very very long why this PA is so cheap. Note that this PA doesn't cover accidental death (based on my search on maybank website. accidental death is only 10% of sum assured)

3. the lump sum amount, total paralysis benefit is a lot. however it's only payable upon total paralysis. Need to know how etiqa define this.

what is term life insurance

PRUTerm

Now all i did was google that.

OK. i don't know Pru's plan but most term life insurance work in a similar way. just as explained in that cnn website.

so the obvious point is (not based pru's plan, just term life insurance in a nutshell)

1. if the person dies after expiry of the insurance, no payout
2. there's no cash value upon the expiry of the insurance plan. Usually there's cash value to go with the term life plan but it goes like the shape of bell curve. peaks around somewhere in the middle of the term and reducing to zero at
3. term life - indicates that it covers a certain term of your life... 20 years, 22 years... 30 years... etc
4. usually the expiry is like 80. not up to 100

Shortfall?
it's not complete life coverage. but seriously, if i'm 70 with no dependent and all loan paid off, i don't really need anymore life protection. if i'm 70. i need more on things like annuity, medical.

the other problem is the rider part.
say your term life insurance expires at 70, your CI and medical may expire later, but when you buy these 2 riders together with the term life, the riders cannot be longer than your term life insurance, thus ending your medical coverage earlier than intended. my understanding is no insurance company will maintain the riders after the expiry of the term life insurance. if they do, it's ok...

Complimentary? i don't see why not if you don't have a PA attached. but few things to point out
1. for those with a corporate job, you are covered under company PA. not sure if company's PA covers death only or death/TPD. you can always check with HR.
2. normal ILP payout includes D/TPD as a result of accident as well. PA is just additional money.
3. this etiqa plan is focusing on 'living' benefit rather than death benefit. the big chunk of the benefit is only payable upon total paralysis, the whole 700k (which i assume is the same as TPD). need to read through the material that they send to you through snail mail.

Usually, when they sell PA, they pay out a lump sum amount upon Accidental Death/TPD. usually the amount is bigger than what is offered by Etiqa's lifestyle plan (you may check out MSIG individual PA as a comparison, couldn't find allianz pa on their website, better to do survey with the big general insurance company). of course it's up to the company to design their product.

This post has been edited by adele123: Jun 9 2014, 01:04 PM

I know you have made up your mind, just want to clarify some points

term life insurance usually has fixed premium. why more expensive 20 years later?

as for ILP, i don't think allianz is really giving the best return. Pru, AIA could be doing better. at least with Pru's website, it's interactive (got graphs and stuff) and you can track it. may need to work on the research more.

just before i end this. I have a whole life endowment plan... i think mine can break even around year 14-15. and mine is guaranteed return, because it's traditional. non-par plan though.

also another add-on... for most ppl, the important insurance are medical, CI, female illness... and these few have high insurance charges... i would like to highlight that even for traditional plans, these plans are subject to premium increase as well. so... only the 'death/TPD' portion is fixed in traditional plans

this is the actual way of how ILP works (i think you already know).

what cherroy said is not wrong, but it's not the most accurate way of explaining of ILP works. Having said that, it's easier to explain his/her way to non-insurance literate people. i kinda failed in explaininng the basics of ILP to a friend.

also essentially going back to the basics and explaining how ILP works, creates one problem at point of sales... they will ask... only 40% allocated? what happened to 60% unallocated premium??? WHAT?? 40% goes to your commission???

Just want to understand something... your friend is a senior person, or junior staff? like fresh grad or already working for at least 5 years?

insure until 45 only? maybe you really can la. I'm thinking that if say... after 45, you do have those passive income, then maybe even if your kids are still young, somehow it's ok. so i'm thinking about what if you are not around and those passive income disappears as well. anyway, if you know what are you doing then i shouldn't butt in too much. i'm guessing you are missing out on certain details. maybe it makes sense in your case. it really doesn't make sense to me say especially most people at 45 later on, their kids are still in school or very likely approaching uni

assuming a salaried employee with reasonable amount of increment each year, us normal people probably won't have those passive income later.

you won't disturb any rice bowl here la. You won't be the only person who has a friend working for some insurance company as an actuary or something. at the end of the day, those big insurance companies like GE, Pru, AIA are selling more ILP than not. it's like their core business...

commission is pretty much goes according to a scale (after all, bank negara provides guidelines on the max comm the companies can pay). if you really want to pay less commission, buying through bank it's better, cause bank sales staff gets less commission than agent staff... supposedly less la.

This post has been edited by adele123: Jun 17 2014, 03:35 PM

Haha.. Thanks for the information. Good for you to have a chat with someone so experienced in the industry.

Product name?

FYI, once is life insurance company, the other is general insurance company. one sell as rider, the other selling as standalone. Not exactly apple to apple.

And FYI, all of them gives cash upon diagnosis. Although there's always a survival period, i've seen 14, 28, 30 days.

so i assume, it's not so 'immediate' per se. i'm not sure how claims procedure works, i assume, the companies don't pay out until they know that somebody has survived that 'survival' period.

To answer your question, (assuming i didn't misunderstood, your question seems weird in a way)
1. Yes, some of the diseases covered does overlap (explanation below). I assume you mean 36 CI.
2. No, just because adding gender specific product doesn't mean they remove the disease covered under 36 C

I don't know what you mean by 'packages'. It has been quite a while that insurance companies provide riders for female illnesses and usually comes with an optional maternity/pregnancy benefit. in fact, there's also standalone plans.

not that many actually has the male insurance product. the only one that i know of is Allianz Man Guard.

Yes, if you were to compared the CI illness and the lady's product, there might be overlap. Again, take allianz product Lady Guard. Overview, it covers Female Cancer and SLE (lupus), CIS and other things. Under the normal 36 Critical Illness product, one of the 36 is indeed Cancer and SLE. However the conditions of payment defined under the 36 CI may be different from the lady product.

example is the cancer. 36 CI - cancer, it's only claimable if it's late stage, etc... (i don't remember, need to dig out my policy contract). but with the lady product, i think it should be able to cover early stages as well, again depends on the actual definition of the company, i'm giving a very generic overview.