Earlier, I made a mistake about my Prudential medical card PMM2 300 insurance charges. Rm104.13 per month is actually the allocated premium. Actual insurance charges is Rm521.59 per annum. Similar with my GE SM200 medic card (Rm521).

For CI protections, Prudential seems to be cheaper as compared to GE.

Age 36:
Prudential is 0.83 per Rm1000 sum assured
GE is 0.85 per Rm1000 sum assured

Many people said Prudential premium is more expensive bcoz the company try to adjust the cash value of the policy in order to make it sustainable in later age.

Something to share about cost of coinsurance.
A replied from Prudential:

You would not be able to transfer the cost of co-insuarnce from GE to your Prudential policy. However should there be any claims, and if you have claimed from GE, you may submit the balance (if the claim is not paid in full) to claim from us. We will then assess the balance of claim subject to submission of all relevant claim documents and based on the terms and conditions of your policy.

Yes, at later years, especially when retired, it is extremely difficult to ask people to pay extra on top of premium they are paying.

Hence, pay a little bit now and lesser worry in future.

Dear Prudential agents,

Do you think it is wise enough to include PMMP to supplement my existing PMM 2 300 medical plan? An additional Rm80 monthly premium is required.
See replies from Prudential's customer service:
(Quote)
You may extend your term of your current PMM plan up to age 80, by including PRUmajor med plus (PMMP). There will be an increase of RM 80.00 in your monthly premiums and this will be subjected to underwriting approval. There will be no changes your life time limit.
With the inclusion of PMMP, you can still maintain the existing terms and conditions of your current PMM 2 plan.
(Unquote)

Fyi, my available lifetime limit is around Rm299,634.
Prudential does not allow me to upgrade my medical card. I was thinking to consolidate my medic card into one only which cover until age of 80. Moreover, I already have 300k of CI coverage, including 200k of early payout.

Thanks!

which insurance better? aia, great eastern or prudential?

The reason for not able to upgrade is the system issue, not due to health or underwriting. Have you tried to appeal, detailing how much had been claim and when?

The upgrading from older medical card to PRUflexi med is extended up to 31 Dec 2013. The superior terms of the old plans will be retained.

Your email should include :- (if you want higher annual limit, you may increase accordingly, up to Rm10k per increase. The lifetime limit is 20x of the annual limit)

Upgrading from PMM2 300 age 70 to

Option 1 PRUflexi med Rm300 Room & board, Rm100k annual limit, Rm2m lifetime limit, Zero deductible, age 70
Option 2 PRUflexi med Rm300 Room & board, Rm100k annual limit, Rm2m lifetime limit, Zero deductible, age 80
Option 3 PRUflexi med Rm300 Room & board, Rm100k annual limit, Rm2m lifetime limit, Rm300 deductible, age 70
Option 4 PRUflexi med Rm300 Room & board, Rm100k annual limit, Rm2m lifetime limit, Rm300 deductible, age 80

From there on you may decide which would be a better option.

If the upgrading is declined, then go for the age 80 upgrade for PMMP. HTH

I made a claim in year 2010 for minor surgery. Amount is apprx Rm365 only (for excess claim). For the case of appeal, can write-in via email?

Yup I remember you mentioned it.

PM to me the policy no, name, IC# and email address. I will email to our customer service and include you in the email for the appeal.

There is no the best company, is the matter which is the good policy that become solid and can help u when u really need them...

Hi,

Find an agent from each insurer to explain their plans to you. Then you make your decision that which one suits you the most. Different people have different needs so it's not possible to have a plan that can be best for everybody.


Regards,
Gavin Lim from AIA Bhd.

Which is best? It depends on your budget and needs.
You may take a look at Manulife. The medical plan seems attractive.
Go for Prudential if u want peace of mind during hospital admission (if).
Go for Great Eastern if you hav budget constraint. With reasonable amount of $$$, you can buy many protections...I personally like the features of increment of annual limit for medical card if no claim. Smart Premier Health card is better than Smart Medic card if you hav enuf budget...haha..
Go for AIA, if you are looking for standalone medical card.
Go for SCB-MSIG, if you are looking for disability insurance. With Rm300 per annum, the TDP covers you upto 600k.

Good luck and happy shopping

This post has been edited by danlhct: Aug 7 2013, 08:54 AM

^ when you buy insurance, do not only look at the special features of the plan.

Insurance is a business of risk transference, and whatever the insurer gives, it will take back, be it in higher insurance charges or higher premium.

For example, plans that comes with NCB definitely has a higher insurance charges than plans without NCB.

Plans that appears to be cheap when you are young (to get you attached when you are young) may prove to be costlier to be maintain at older age.

Look at the whole package, not just some features of the plan.

Hi guys.
Am planning to get myself an insurance package.

But the thing is, I am a bit short of money, i.e can't commit that much per month for insurance contribution.

Thus, as wondering, is there any packages with minimal payment?
if so, what is the minimum?

I understand that less money paid for insurancce = less attractive package, but am willing to live with that at the moment, until I am better financially.

One of my friends trying to signup PruLady plan. Unfortunately, the proposal has been rejected. Agent never contact her for the reason of decline. Premium has been charged to the credit card. We suspect it was due to the fibroid (she has declared her conditions in the proposal form). She was diagnosed with fibroid about 6 months ago. But doctor said no need to operate. Just need to monitor.

My questions here:
1. How long does it take for the premium refund? She has been waiting for a few weeks already.
2. Can she appeal to Prudential? How likely the case can be approved?
3. Does it mean she can't purchase insurance in the future anymore (coz nowadays the system of the insurance companies are linked).
4. Are there any similar plans like PruLady in the market?

1. The cheque is refunded, 3 weeks once the case is declined. It will be passed to the agent along with reason of declination.
2. Unless she got it removed, non recurrent, then resubmit with new proposal along with new evidence
3. See no 2
4. Yes, but I would let other agents to comment

In any case your friend should contact the servicing agent.

bro need more details on you & what you are looking at currently before can provide any solutions . . . .

1. Usually after 1 month.
2. Provide more details on the fibroid case, a dr report stating its non cancerous is the most important
3. She can try from another company . . . who knows might be approved
4. Get an investment-link attach with Prulady rider, similiar coverage but does not have lifestage event claims

Thanks guy for your valuable input. This is a very informative forum. You guys are awesome --- especially Mr. Roy, Colaboy and ExpZero.

Many agents out there just keen in doing business but lack of knowledge. I've met many of them... sien...........

What does rider mean ?

http://www.investopedia.com/terms/r/rider.asp

In layman terms a rider simply means add on benefits that can be purchased on top of the standard insurance policy. Add on benefits to the client means added risk to the insurer, hence added premium.

For example if the plan has a medical card rider and if the client needs to be hospitalized, the hospital bill will be paid by the insurance company to the hospital.

If the plan does not have a medical card rider, then the client will need to bear the hospitalization costs.

hi, definitely there is a plan to suit ur budget. Please check ur PM