i have no insurance yet..any recommendation which insurance provide the best? and im 23..
if you are an agent, please ignore my post...expecting answers from others..

i brought 1 insurance recently...think is life insurance...purpose i treat it same as the mortgage insurance...but this one got cash value...if compare to the mortgage insurance....
the agent said will at least get 5% interest....
if house loan finished..let say 20 years......at least can take back the $$ put in for about 20 years...mayb will loose some $$ only if compare to mortgage insurance....
dono how true is it....

xen0, i like your last line. Insurance agents can't give you true feedbacks as they will claim that they are best and they can provide you a plan that best suits you.

IMHO, i think that it depends on what you want. Medical card is a must. If you have investment knowledge then u should just go for term insurance which has no cash value. Means the premium you paid every year will "burn" and you won't get anything back. The premium is much cheaper ad you canuse your extra money to invest. If you don't invest, i recommend you buy life insurance which has cash value. The premium is much higher but the return is higher than FD provided you do not surrender your policy too early. Usually the break-even point
(means the amount you will get if you surrender your polcy and the total premium paid is the same) is around 12/13 years. If you surrender your policy earlier than this, then you would actually incur losses.

If you really want to buy insurance, my advice is consult few insurance agents from different companies, understand their products and compare yourself.

just a suggestion and share by here lar. i buy one insurance policy from ING. i think is good lar.. becuz i remember that last time i play basket ball. i get injure for my leg only. My leg pain until hard to walk.. after that i go see doctor and see chinese medical doctor in d same time. i get claim from ING. just a small matter also can claim it sound not bad. em..... indeed, i had heard that ING resource are very very big capital. The capital is more than all malaysia bank.

This post has been edited by hiphopken: May 13 2009, 05:49 PM

I have a question.I still don't really understand the concept of insurance.

I do understand the concept for car insurance.You pay insurance to cover eg rm30K by paying rm1000.If you get into accident,the insurance co can pay up to rm30k.But then after that you need to start paying with 0 NCD,which is gonna be rm1k++.

Is this the same as life insurance or medical insurance?I mean,once I claim for medical insurance if I was to be hospitalized,do I need to pay extra after that?

In my opinion, insurance is only a tool used as a solution to solve a problem in financial planning. You can always try the net to find out what is financial planning.

4 things you should need to know in buying insurance (or 5 if you are a female);
1) Life / TPD
2) Accident
3) Hospital / medical card
4) Critical Illness
5) Female Illness

1st thing you need to know is WHY you want to buy insurance? If you don't have a why, why bother?

Is it because you want to leave some money for your family to take care of your funeral? Casket aint cheap these days.

Or you want to have cash to take care of your everyday expenses if you become disable due to accident or illness?

Or you want the insurance to take care of your hospital bill in case you are hospitalize due to illness? (like heart attack,

But best of all, prioritize your goals first and get a more wholesome picture from 3-4 financial planner or advisor or agent before turning in your money. Just don't let them talk you into buying something you don't want and don't need. But if you're lazy to do that, then you might find yourself in big trouble when it comes to claim.

P/S: Different insurance company have different rules when it comes to claim. Some might increase your premium but some stays the same. Check it out with ins. agent.

this type of insurance was already out from my choice..currently so many insurance+investment(with medical) style
and yet, i dont invest my money..after all my expenses, i can save up to rm800 every month and remains in my bank account..
currently, i kinda wanna to invest in ASB but still studying how the investment work



higher than FD? really? wow, thats cool...

so if the policy is about 30 years(this is from etiqa iinm), i can get back what i had invested in 15 years if policy surrendered but in less amount? can enlighten me about "incur losses" thingy?

currently so many bank offering their insurance products. what the differences between them and non-banking base(ING, MAA, AIG..etc) product? do they have investment too?

i will buy some time for that..
thanks for the reply.

anyone else wanna share?

There is no NCD given when we buy insurance like life, PA, critical illness and medical card...

but as i know, Great Eastern is Malaysia No. 1 company in terms of their market value, total assets, profits, total policies etc. Try check the summary from Bank Negara.


For Xeno,
wow...that's great for you to save RM800 per month...however, puttng everthing is bank account whether is FD or savings is never a wise act. I won't suggest you go for Investment-linked policy where it is insurace+investment as I think it's not a good product. Try check http://forum.lowyat.net/topic/1016765 for more comments about it. If you are risk averse, then go for life insurance. What i mean incur losses here, for example, yearly premium is RM2k, after 5 years you already paid RM10k, but if you surrender you will get less than what you paid. But after maybe 15 years,you have paid RM 30k a if you surrender that time, the amount that you will get is more than RM30k.

If you dare to take risk and you want more liquidity of your assets, i would recommend term insurance+mutual funds. And for your information, insurance policy can be made up by mixing life and term insurance. You can buy a RM100k sum insured life policies which cost maybe RM2k plus and add another RM100k protection by adding few hundred dollars only. I can't remember what is the add-up protection called. And if you want to consult an insurance agent, make sure you have adequate knowledge about insurance so that you won't be misled by them.


I wonder when will Malaysia have a real financial planner that will develop a plan that best suits their clients. Not like the ordinary insurance agents who will tell you that they will give you the best but just offering their own products. I blelieve that every company will have their own strengths and have some products which are better than the others. After consulting few ex-agents, they told me that 4lli4nz's medical card is better than the others while G3 is strong for their life insurance.

Hello Everyone,

I need an advice or opinion on insurance for my following conditions.

1. Obesity with weight 140kg,
2. 168cm height
3. History of hypertension. Currently heart reading normal but still take daily medication.
4. Age 28

I plan to take a comprehensive package with life insurance, personal accident, critical illness, hospitalisation and medical card.

So far, my first insurance application was rejected by BXN-Prxdxxtxxx.

I dont want to lie about my condition (hypertension) but still can consider if they ask for a higher premium or exclusion hypertension from the protection.

Should i try another insurance provider?

Which one is more considerable?


Thanks a lot

You can always try other insurance company. No harm trying it. If you can make yourself much more healthier, then the chance of getting accepted will be higher.
Do take note the higher premium and exclusion may come together.

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Added on June 11, 2009, 6:37 pmPrudential currently having new medical card with No claim bonus

This post has been edited by c.o.o.l: Jun 11 2009, 06:37 PM

Hi there,

I have done an application quite similar to you.

Lady 30 yrs old.
Weight 100kg
Height 155cm
History of hypertension. No med

Insurance package, as per what u mentioned.

My company Allianz just did a loading on the weight and the loading was around 100%. But i think it still worth it.

Pm me if u wanna try, no harm at all, but definitely have to go do a medical check up but will be born by Allianz.

Thanks

This post has been edited by chew_ronnie: Jun 11 2009, 06:56 PM

Well, no harm for trying.
Anyway, I am from ING, quite high chance for you to get approve here.

hi my dear fren, first of all, i would like to congratulation to u. At the matter of ur mature thinking, many of my frens, some even older than u, they dun feel their life is so important to them. As in for u, i can see u r staring ur financial protection now. As a healthy way, the based are financial protection.

As in ur case jus as similar to my cousin brother. one year older than u. Just got approved by insurance company.
my cousin brother bought life insurance, critical illness, personal accident and medical card. Of course, as a hypertension, u MIGHT hv to pay extra than the normal premium. Depend to ur situation. My cousin bro hv to pay 100% extra. mean let say ur medical at the age is Rm500 mean u hv to pay rm1000.

Yes, u mean feel super expensive. But think of the other side, a normal chicken burger and a chicken burger PLUS EGG....which one is cheaper and which one is expensive?

Everybody hv different thinking n advise. Actually the most important is wat is ur purpose of getting insurance cover??

if u wan to know more or ask more details, u can pm me cuz i seldom browse this forum..hehe...

hope my advise can help u out.

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Added on June 12, 2009, 1:32 amhi, u r the same age as me..hehe..
i jus bought my insurance cover aslo...
not so good to mention who is bad and who is good. I'm worry if i mention out, some agent will chop me off.
No offense.

pm me if u wan more details.

This post has been edited by argesl: Jun 12 2009, 01:32 AM

What is the name of the plan?
Is it not that hard to check actually.

Thanks All for your valuable feedback.

To be frank, I do keen on takaful plan. But still open for any reasonable/better option.

I will take a look at what Alliance, INg and AIA offerings....


Loading is normally charge to total premium amount or to specific part only e.g. critical ilness ?

Do insurance companies track record of any application rejection?

It is true.. Another option is I need make good of my health condition, maybe slim down a few xx kgs first before applying again. But dont know this will take how long. hahaha

Haha... Although i am agent, but i have to say that, there is no best thing. Only suit or not? And the service of agent and whether the agent is honest enough? By the way, i just bought a policy for myself and i am just 22,younger than you. cheer !!!

Hi normally, for this kind of cases, the loading is mostly on the medical card followed by C.I and Life.

All insurance companies are already linked up together, so there will be question asking in the applciation form that ask u whether have ur application with other companies being rejected or postponed? So basically u have to disclose this, and even if u dun disclose, they will know.

I just got a call from AIA regarding a new insurance plan which is only exclusive for certain AAM members. Have any of you received a similar call?
Thanks