Of course individual plan is more costly compare to the group. Believe me it's a big gap differences.

Any plans from any insurance company will do if it's fit in your requirement because all payout are according to the policy in hand.

Example.
If your friend's company is big enough, he may suggest to his employees:-
option 1. all employee to get individual plan.
option 2, if opt1 too costly, try have a meeting with employee to get individual but with certain percentage of subsidy from the company.
option 3. if opt1 & 2 costly, then may think of this, all executive level get individual plan only, and the rest get group.
option 4, if above all still costly, then don't think too much, just get group insurance.
option 5, if all above is out of budget, then pray hard nothing happen to your friend's employees.

So many questionmarks to understand this product. Take the highest plan (Package 1), This is strictly PA plan which cover TPD=RM100k, PA death=RM400k.
1. If insured person died not due to accident, insured get nothing?
2. what if insured person lost of 1 leg? any jackpot?
2. rm1.33 per day based on age below 1. what about 40? or 59?
3. Let say insured age 45 now, and maturity of this plan is 15 yrs. how much would insured person got refunded?

In most developed country, medical coverage is a must as malaysia medical is going up crazily every year but still cheap compare to lots of developed countries. Buying insurance must first thing in mind that anything happen must try to rescue or safe, and nobody will think of dead and wanta claim it. I feel that really funny when parents bought life insurance for their kids, indirectly sounds like they wish their kids die and to hit the jackpot for themselves. I thought most parents if anything happens to their kids will surely bring their kid(s) to the best doctor or better medication. If so then should get medical coverage for them and vice versa. Just my concern. =)

They are some insurance do provide medical coverage+PA in the market.

That's the exact graph used by insurance company to manage every risk at age range. Another guideline is based on their customers age group in hands. The most the clients on certain age group, the risk will be sharing or calculated with cheaper premium including the agents' commission.

Foreigners most don't buy life insurance. They mostly invest in property or have nothing at all due to their citizenship benefits almost covers everything for them including retirement and jobless. Let say if anything happens to them, they don't worry much as the government will take care of their family. Maybe that's the main reason they hardly buy insurance for themselves.

In Malaysia, government hardly encourage nation to invest or wealth control but encourage them to loan and spend. Foreign countries (Singapore, Hkg, Taiwan, US, Europe, Aus, NZ n etc) force their nations to get medical protection as risk manage and control especially at old age.

Of course car insurance is a must in our country, that's why anything happen on the road will be taking care by insurance. Since government have been voiced up on government hospital cost and budget are arising rapidly each year. Government now implementing deduction of 10% from your saving for medical coverage and medication cost together with all medicines and drugs will only can get from pharmacy especially cosway farmasi. Surely this is just the preliminary stages to cut down cost of drugs and surgical bills. As drugs being monopoly by DRM. Only him can supply to the GH.
This is not the issue a must, but the necessity of it. I agreed with you for self insure but not on every aspect. Example like you mentioned. I am paying rm50k to age of 80 to cover my medical coverage of rm450k annual limits. Which means when i pay rm50k and anything happens i will have rm450k to save myself better than my hard earned money of rm450k (1 house).

What's the last age of the protection covered? 60?70?80?

All types of life insurance charges will change as age increase, the only different is traditional change after 35 yrs old (normally theirs charges based on each age group, eg 36-40, 41-45). Investment linked insurance (basic) premium wont change but insurance charges mostly will increase slightly every year.

GL will be issues immediately through any insurance company which had a 24 hours online service regardless weekends or public holiday. You don't have to call agent for this, but some insurance company need to. Medical card shall be same function as your credit card but only use it in hospital.

Any of your medical card insured from insurance company which hire AA and SOS service, do not hassle to go through the claim as they will do it for you. Admission fees need to deposit before admission. one of the reason is to cover those bills which not covered by your medical protection.

Eg. Doctor only allow to visit patient 1 time per day, some 2 times some 3 times depends which medical card you holding.
Lets say yours only allow for 1 time per day, but you keep calling the doctor to visit you let say 4 times per day. Then the extra 3 times will be at your cost.

Eg2. Let say you are staying in a 3 stars private hospital in a single room, and there provided drinks and tit bits in the fridge and you took and have a great meal with it.
Yes, your admission fees you paid will be used to deduct such expenses as medical protection not provide for pleasure and refreshment in hospital.

Note: Do get a medical card to pay for doctor report = rm 100, and also include 6% of government tax as some insurance company wont bear that 6% (mostly happened to those co-insurance )

Most agents are expanding their businesses and services and they can flying anywhere in malaysia to get sales. What I am trying to say is, eventhough you get from KL agents, they might not able to serve you as well. Or how if someday you being transferred to other states? With today technology, infrastructure and improving services from insurance company, it won't having much issue on your protection and claims. Today business will never like the old days, nobody can guarantee their service is 100% efficient with time constraint. Just remember never lost your insurance policy and that's the important document which most people neglected.

Dont worry, quit is normal, die also normal.

What's the point of having unlimited lifetime limits if annual limits is critical? Just focus on what kind of protection you want and your affordability.
No matter you like it or not, all insurance agents will hunger for your money to provide better services which they always highlighted. Nowadays agent won't wait for 6 years to attack you. They will strike every year with lots of funny skills and words. Do enjoy their existence.

Just bring your policy and walk in to the insurance company office (not agents' office) and go to the counter and request to surrender/cancel your insurance.

Greater good will fade off as time goes by.
Pro, you have extra cash in hand.
cons, you use your extra cash to protect yourself if unpredictable situation happens.

Surely you can, but don't expecting much properly few hundreds only. Don't worry, they will tell you about that when you canceling it.

This post has been edited by freewisefly: Nov 18 2013, 02:40 PM