AddVantage bukan ILP if not mistaken. Its like Prudential PRUvantage. Take a wild guess who copied who

Wokay.jpg

1 & 2. Noted. Pls PM your email address for me to provide the quote.
3. Medical will be covered irrespective of the the cancer stages. It is the critical illness, waiver, and critical income that will be paid out as long as there is evidence of malignancy. All based on Doctors report.
4. Depends on medical card. Need your email.
5. Heart issue. There are few heart issue, cardiomyopathy, heart attack, heart valve, transplant. Which one are you referring to?

Sit down with your agent and ask him to let you play with the quotation for upgrading.

You can still choose RM 150 daily room & board, cover up to age 80, Annual limit RM 70K, RM 1.4M lifetime limit, no co-insurance.

But if you are worried of the insurance charges at later years, you can ask your agent to go thru normal underwriting (provided no health issue) and opt for RM 300 deductible option. The Guaranteed upgrading if you are selected is only for zero deductible (full claim).

You can select what's comfortable for you to pay, instead of relying on the agent.

This post has been edited by roystevenung: Mar 11 2013, 07:37 PM

Sit down with your agent and ask him to let you play with the quotation for upgrading.

You can still choose RM 150 daily room & board, cover up to age 80, Annual limit RM 70K, RM 1.4M lifetime limit, no co-insurance.

You can select what's comfortable for you to pay, instead of relying on the agent.

If no one want to entertain you boss, our doors are WIDE open

But seriously, where are you from? KL or Penang? If Penang, I can ask my brother in GE to help you :-)

This post has been edited by roystevenung: Mar 11 2013, 07:13 PM

Not asking you to terminate lar... the plan for CI/TPD/Life you remain. Can get another traditional medical card one :-)

Banana here, but if you read in the policy document, irrespective of whether it is in English/Malay or Chinese, the English version will be the one will prevail and it is used in court, in the event of dispute. :-)

Taiping very near to Penang nia. Also, many people from Taiping prefer to come to Penang for treatment.

I like, so when can meet up with you

Taiping very near... well, if you want to meet, I can arrange for zoom2 to Taiping as I need to meet up some people at Ipoh. Just havent set the date yet.

Of course it is for non-obligation. More of a policy review. Don't worry, we are trained not to cancel people's policy

This post has been edited by roystevenung: Mar 11 2013, 07:44 PM

No problem lar... you decide.

The reason why insurance charge goes up by age is because of the associated risks it represents. The rationale is that as we get older, we are more prone to ailment and sickness.

This is why for a person age 30, the insurance charges ranges from RM1500pa. However when he is 70, the insurance charges could go up to RM6Kpa or more. If the person is paying a premium of RM1800pa, it is enough to cover the insurance charges at age 30, but when he is 70, the variance of RM6, 000 - RM 1800 = RM 4200 needs to be paid if you still want to maintain the policy.

Investment Linked Policy (ILP)

In an ILP policy or policy that is able to accumulate cash values, the variance of RM4200pa will be deducted from your cash values until the cash values is exhausted. Once the cash values has been exhausted, you are required to do top ups. If you fail to make a top up, the policy will end and the cover will end prematurely.

This is also the reason why you should not withdraw the cash values or risk having the policy ended even way faster before the end of the term. Agents who says that you can withdraw money from the IL account is just doing sales talk. After all, who doesn't like money?

Traditional / Plans that dont accumulate cash values

For older plans that do not accumulate cash values, the premium is increased once every 5 years. The premium will also jump to ~RM8K OR MORE, at age 70. Policies that does not accumulate cash values tend to cost more at older age because you had been enjoying lower premiums at younger age. Consider it a payback to the insurer

Since the policy does not accumulate cash values, you will be needed to pay the full ~RM8K or policy will also lapse.

Insurance is what we hokkiens call "liak teng por thay", simply means by hook or by crook you will need to pay for the insurance charges if you want to have the coverage. It is your choice, whether you want to pay more when you are young and able to work OR pay later. Quite frankly, I would prefer paying more now since we are still able to work, rather than later when retired.

Most people dont plan for their insurance in later years and compare plans because it is cheaper at the point of comparison, but not the entire policy term.

Disclaimer: The above numbers are for discussion purposes only and may vary from insurer A and insurer B. Just know that whenever an insurer gives you goodies like cash back, YOU ARE THE ONE PAYING FOR IT WHICH is pre-calculated in the insurance charges.

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?.. and for god's sake why am I replying to /k at 2am in the morning? No life agent. Zzzz good nite, morning

BTW, may I post your questions to my blog? At least it can be viewed by more people.

This post has been edited by roystevenung: Mar 17 2013, 02:34 AM

The real reason why people get it at young age is because we do not know when we are going to be ill. By the time you are ill and only want to get it, it may be too late.

Our health changes every time.

Last year been asking a 33 year old girl to get medical insurance for almost 6 months till she finally commit in Jan. She had an extreme pain in the back in Oct and doctors found both kidney had stones. KPJ uses laser to treat the stones, and its not cheap. Both kidney treatment costs ~RM28K.

Well needless to say, she was glad she had it.

This post has been edited by roystevenung: Mar 17 2013, 05:46 PM

A double O seven will need a license to kill. Same goes to insurance. Cases that you had closed before you get your license are parked at your up line.

Once you had passed the exam, they can transfer the cases to you. In the mean time they are obligated to pay you the commission.

If they songlap your commission, I guess you shouldnt be in that agency afterall.

If without a valid license how do you sell insurance and it is considered illegal to solicit any business transactions.

Once you got the license, the agency manager will arrange to transfer all the cases that belong to you, together with the commission.

No, but it may result in having your policy lapse, hence losing of the coverage.

Summoning simonlai61

lawcl99 if anyone can do the job, its definitely Simon Lai

Since this thread is a bit dull, lets discuss on the Critical Illness :-)

Lets start with the simpler ones.

Kidney Failure Definition
End stage kidney failure presenting as chronic irreversible failure of both kidneys to function, as a result of which regular renal dialysis is initiated or renal transplantation carried out

Chronic here means there is evidence to show that the kidney failure wasnt only happen yesterday.

It also means that if only one kidney fail, the lump sump Critical illness / waiver is not claimable under Critical illness.

This post has been edited by roystevenung: Mar 30 2013, 01:38 PM

Yup, with more payment of course. Some of these accelerates the payment of the main CI. Secondly, the ones that are permanent in nature and not recoverable is the ones that we should be worried about.

What I am trying to say is that we can still earn a living, even with one kidney. With both kidney gone, and need to do 3 times dialysis per week is what we should be worried about since itll affect the livelihood of the breadwinner.

Yes 30% of the sum insured will be paid out under ECP if one kidney fails.

I can provide you with a projected of when your insurance charges is bound to overtake your premium and eats up on your cash value....