Yes, the plan is called PRUhealth medical rider that is attached to an Investment Linked Policy (ILP).

It is rather common to have a marriage of ILP+medical with Term insurance, be it from the same insurance company or with different insurance company (for risk diversification).

The main reason why nowadays people prefer to attached the medical rider to an ILP is because in general most of the stand alone term policy only provides cover till age 70.

With the ILP you are able to plan ahead and get covered till age 90 or even 100 (if you can afford to pay the premium).

Another reason is ILP has the ability to attach rider that waives the premium payment so as not having to worry the policy may lapse if say the person has stroke and is not able to work.

As for the Life/CI, since it is more towards income replacement, you may choose to only get covered till age 60 and terminate the plan. I may get flamed from agents but what else is new

Well, unless you get married late/adopt a kid late and at age 60, your youngest is still small (another reason to get married and have kids earlier ).

After 60, you may want to swing that premium to the medical card.

I don't suggest to own two policy unless necessary to avoid unnecessary administration charges. In your case, ILP+medical will be more suitable to you shall you do not have adequate of medical protection with you.

Hi,

The plan that you need to pay only 20 years but provides a coverage up to age 70?. Insurers are creative, of course they have the plan you mentioned/ or similar. Certain companies do. Higher premium of course, and after the 20th year, you may come across a letter asking you to top up some premium. Do some research with those who bought these type of plans years ago when it was oven hot, typically those aged between early 40s to mid 50s now. Listen to what they say. Ask why they bought, and analyse the features.

Everyone wants a magic, cheapest plan with high coverages over long term. But the money ( cost) has to come from somewhere. Insurance is all about how much you value yourself. How much do we value ourselves today, tomm, 5 years, 15 years, 20 years from now? In today's money (premium), are we willing to allocate say just rm300 to cover myself for the next 30 years?. If the plan is fixed (buy cheap now but coverage amount is X amount), what do I do if I outlive the term of coverage and by then I find myself valuing myself even more? Willing to pay more then at my older age? Insurability is not a problem because I am super healthy then?

So may questions. So many options.

Nothing is free, nothing is cheap and very good. Every product has it's pro and cons. But the best balance amongst so many products in the market today would be the investment -linked. Prudential started this product imore than 15 years ago and competitors scorned, telling their clients that it's no good coupled with false accusations. Then now they too, embrace it. It's affordable, flexible, you upgrade or downgrade it according to your needs, drop riders you think it's no longer of use or upgrade accordingly. Buy a term for some coverage over certain years but understand the features and why do you need a term insurance, or traditional endowment if you want to diversify for savings purposes because of it's guaranteed features.

why u buy US insurance?

u at US?

u sure US insurance will cover malaysian?

Dear Weirdguy,

Wow, this 'A' company is very creative it seems when it comes to all types of plans.

Let me tell you one experience I had with this company. It's a true event. This was abt 5 years ago when company A was in turmoil. Nearly collapsed and Pru almost bought it for USD650M. Check the past news.

My client bought 3 endowment policies with company A. Each policy abt rm10k, paid yearly. The agent told her just pay 10 years and reap sky high returns, collect back money from company A on the 10th year. This agent also works in a bank, so he has the data of customers who have a lot RM in FD. He targets those aunties typically.

... shortened; please refer to original post

On the way back, my client called the agent. He picked up and said " aunty, If you say I cheat you, is also for your own good. I cheat your right pocket, the money also enter your left pocket mah..you continue lah please don't surrender and if company call you say you don't want lose your money"

Nothing. Nothing after a week, nothing after a year. She's still paying for it today on yearly, her husband was furious but so what.

* after this incident she told me she has lost trust in all insurance type of savings plan. And she actually pity the agent who sold her this plan because the agent told her he's getting married at the point of signing up the policies. She says let it be.
* I know her husband first only a few months before she took up these policies with company A. That time, her husband was looking for a med plan for himself.

Company A can sell you wonders, dreams and I remember. Their med card was like buying huge limit but something that the policy holders can't actually use. Too many sub-limits ie cancer kidney dialysis can use only rm15k lifetime. The med card limit=big. Short term paid up policies, they were selling it like hot cakes. They have the traditional agents with them because this company was a giant back then. Agents that do not move with times, ancient.

Today it's a different story of course. I am sure they have learned and improved. Even the newer plans are so much better. But it's the culture of their agents, or set-up, mindset. Something that trainings or newer facilities can't change.

I am sorry I am here not to put down my competitors or be long winded. Buts it's something that we all have heard of or come across. Just to share so that ppl here are aware of not being too greedy.

you may request to change to your preferred agent to avoid communication barrier. Please provide us a request letter signed by the policy holder stating on the reason for this request. You may send us the duly signed letter via email or fax at 03-2264 8499.

Hahah Allianz very funny.
If you complaint your Allianz agent, they will ask you change agent to resolve the problem.

If there is Allianz agent that earn the commission from policy holder but did not provide services to customer, then Allianz will advise the customer to change agent in the name of "change to your preferred agent to avoid communication barrier" ?
This solution is totally a joke. I'm not satisfied at all.

- Unsatisfied Allianz Life customer

It is covered in your medical card.

Never had any clients feedback that they need to pay this except when the KPJ Hospital had a funny idea of charging clients for an additional Rm5 per bed sheet (about 3 years ago).

Imagine going to a 5 star hotel room and to your horror the bed is without bed sheet!

Of course now they had stop this ridicule charge after many people starts to protest.

International insurance do cover dental, regular medical checkup and even mental disorders. But be prepared to pay in USD