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Does anybody use insurance BROKER? If you do, please could you PM me about your experience?
I'm not referring to an insurance agent.

husband n wife interested to buy insurance, pls PM me.

age : next birthday 31 years old (both)
both NON-smoker
Not sure if the below info required : interested in -

PA - 100K
Medical Card - R&B 200
CI - 250K (husband), 150K (wife)
Life Insurance - 250K (husband), 150K (wife)
TPD - 250K (husband), 150K (wife)


for wife : pls include the specific plan for woman (eg, breast/ovary/pregnancy etc)

Payer benefit : Yes

Plan include the early detection payout for CI?
Any Co-Insurance/Guarantee renewal/Guarantee return??

Advise me how much to pay per month.

Thx

Greetings,

any agents here? please contact me. im looking for a protection plan. thanks

This is Gavin from ING. You may discuss with me through my email at cheahyang_0@hotmail.com

Pls pm me your particulars n mail. Will come back to you as soon as possible.

Hi,

I'm looking for ING insurance plan. Agents pls PM me.

Thanks.

"Suicidal Guy"

I wonder which agent wanna kena

Kena what? Suicide can claim ar?

special case

after got your policy, do countdown 365 days baru kill yourself yo

alo alo... best is public transport accidental death as some life insurance pays 3 times to 4 times the "normal death".

Sorry boss, out of topic - couldn't resist the mental masturbation though

innocent lives will be sacrificed

Okay, I have two plan.

Plan A
Get myself a Standalone MC first, premium is not that high at my age now, but also I aware that the premium will goes up after years. Plus, I also get myself another tradition life insurance, paying same premium while protection and cash value keeping increase. Let's say, when i was 40 years old, annual premium for my MC is 1000 (just an example), that's means every month I just have to pay RM83. So, RM83(MC) + RM70(Tradition life insurance) = RM153. If plus PA and etc. also just another few ten ringgit.

Plan B
Get myself a ILP, start with RM150/month now. After years, I think most agent will ask client to top-up to increase the protection and maintain the cash value. In the age of 40, maybe I have to pay RM300 to get what protection I have compare with Plan A (RM153).

Any comment or opinion from anyone here? especially insurance agent.

1)Is that true if I start my insurance plan early at now, when i still in university, so that my premium for life will lower & return guarantee (I refet to traditional life) compare with ILP?

2)In case, if I did not top-up or due to budget restrict, just top-up a little bit, at the end of the day, my cash value is 0?

3)The disadvantage of standalone MC is if I was admitted to hospital, later when comes to renew my policies will have more problem. Worse will lost my MC?

4)After looking on both plan, does Plan A really works?

5)Is there anythings that ILP have but the Tradition life or Standalone can't gave to us?

6)And then, seen insurance agent could get more commission from selling Tradition and Standalone insurance comapre with ILP, why most of them still advice client to buy ILP instead of Traditional and Standalone insurance plan? It's ILP really good at overall?



This post has been edited by Eddy924: May 13 2012, 06:38 PM

If you're comparing the insurance charges whether to get plan A or plan B is irrelevant. Insurance charge will go up by age. Traditional plans from Prudential like the PruVantage plan do generates cash value, except that the premium/cash value is not tied to the underlying funds unlike the ILP plan. Unless what you're referring to for the traditional plan does not generate cash value?

It is understood that IF you want to increase the protection you'll definitely need to do top up, irrespective of whether the plan is traditional or ILP. However, the flexibility of the ILP allows you to increase the protection into the same plan. The traditional plan does not allow you to do that. A work around would be to add another policy if you want to increase the cover for the traditional plan.

Be thankful when your agent is still able to come back to you to ask you for top up to increase cover as this would mean that we're still healthy. It also shows that the agent is monitoring/responsive :-)

Also, the medical inflation in Malaysia is at 15% per annum. We used to have Rm 75 room (6 bedded) but nowadays the minimum seems to be Rm 150 for 2 bedded rooms.

It is recommended that we do a medical card/policy review every 5 years to curb inflation.

"1)Is that true if I start my insurance plan early at now, when i still in university, so that my premium for life will lower & return guarantee (I refet to traditional life) compare with ILP?"


Insurance charge goes up by age, irrespective of when you get it. Returns for INVESTMENTS are NEVER guaranteed EXCEPT for what has been paid for the coverage. ie, Life/TPD/CI lump sum payment or the medical benefit.

"2)In case, if I did not top-up or due to budget restrict, just top-up a little bit, at the end of the day, my cash value is 0?"


You don't normally need to do top ups at younger age as we'd normally include some slack into the ILP. However as we grow older, when +70 for example, the insurance charge is expensive you may need to do top ups if whatever that has accumulated throughout the years is not sufficient to pay off the insurance charges.

For example, you may be paying RM 150 now at age 25. At age 70, assuming that you maintain the same policy the insurance charge might be RM 400/mth (the values are for discussion purposes only and may vary from the actual). So from where do the additional RM 250 comes from? Its from your cash value.

The beauty of having ILP product is that once your policy has generated substantial cash value, you are able to withdraw if you need to and maintain a RM2K cash value in the account. Some clients who lost their jobs suddenly finds this feature very useful and at the same time still enjoying the coverage.

As compared to the plan that does not generate cash value, even though you had paid 10 years, lost the job and unable to pay, it'll lapse after 30 days of non-payment. Sure some may say "lapse mah lapse lor" later when got a job then continue back. The question is are you still insurable (still healthy) and having a clean medical record? If yes, then it won't be an issue to reinstate the policy or do a new one, but if not, sorry.

"3)The disadvantage of standalone MC is if I was admitted to hospital, later when comes to renew my policies will have more problem. Worse will lost my MC?"


Most stand alone medical card nowadays have guaranteed renewal features.

The real questions is whether the stand alone medical is able to be attached with riders that waived the policy should CI/TPD occurs, whether can add in lump sum CI/TPD and most importantly does not have limit on cancer/kidney dialysis.

If you were to decide on going for stand alone medical card, know what are the restrictions or short falls and top it up with sufficient CI/TPD. Also do not forget to calculate the waiver, eg, Rm 150/mth for the rest of coverage term of the medical as you will need this amount to maintain the policy should touchwood CI/TPD occurs.

"4)After looking on both plan, does Plan A really works?"

It does, if you understand the short fall and add on towards the shortfall.

"5)Is there anythings that ILP have but the Tradition life or Standalone can't gave to us?"

Investment opportunity (if you/your agent monitor the funds) in the hope to grow the cash value so that should one day you decide to retire, the generated cash values throughout the years may be able to last longer or at least until the end of medical coverage term.

Withdrawal options in times of job loss, but bear in mind if you withdraw, your cash value might not be enough in later years to auto-run your policy when you retire.

Lets not forget, when you retire at age 60, there is another 20 years to go before the medical term ends at age 80 of non premium payment and that insurance charge at later years are expensive. There are cards that is able to cover until age 100, but the premium is not cheap.

<------------------------|------------------------>
Age 25 Age 60 (retire) Age 80

ILP plans are more flexible as you can increase coverage when you need it. Do note that any increase (except being specifically invited) is subjected to underwriting.

"6)And then, seen insurance agent could get more commission from selling Tradition and Standalone insurance comapre with ILP, why most of them still advice client to buy ILP instead of Traditional and Standalone insurance plan? It's ILP really good at overall?"

Instead of knowing how much commission the agent is getting, you should be concentrating on what benefits you as the client will get and most importantly get it from an agent that gives you sound advice rather than just the one that is eager to close the case.

Its no secret that agents commission are +/- 120% of the policy sold (except for savings plans) and is SPREAD across 6 years. After 6 years no more commission, but the service continues for as long as you remain the policy.

As a young working adult the ILP plan is a very good plan that allows you the flexibility to increase your cover as your income gets better. Its a plan that I would recommend to young working adults.

This post has been edited by roystevenung: May 13 2012, 07:53 PM

hi guys,is 15 day cooling off period applies to GE?can i get full refund if i decided nt to continue?

Yes, but if you don't mind my asking, why would you want to do that?

Guys need some opinion,

I have GE ILP 100k and the premium is RM1200/p.a . Dana Restu fund. 3 years already.

Now I want to top up a medical card and ci, I want to take prudential medical card but need to attach with ILP as well.

Should I terminate GE ILP then subscribe to Prudential ?

or

take both ? is it worth it ?

Last time ur ILP with GE include wat rider?

with 44 years IL Waiver of Premium Plus.