May 11 2010, 01:02 PM
QUOTE(chew_ronnie @ May 10 2010, 08:35 PM)
My answers to you:
1. 70% on product and 30% on agent. Because life insurance is to protect you. If agent does not service, you can do yourself in their headquarters although it'll be a bit troublesome.
2. From the illustration you see i ILP is fixed. Because ILP works on unit cancellation, and the cost of insurance is not guaranteed, and if the performance of the fund is not so good in the future, you may need to top up to get your ILP working. To see how it works, pls attached a copy of the illustration of your ILP proposal and I'll teach you how.
3. There are life stand alone card and general stand alone cards. Life cards are normally guaranteed renewable up to a whatever age the card expires. For general cards, it is normally not guaranteed renewable.
4. Take note when you buy a traditional policy with premium waiver because a premium waiver will normally waive the basic death portion. The riders ie. CI or Medical Card or PA premiums u still need to pay. Traditional policies will be priced higher for the same coverage as compared to ILPs, but the advantage is you'll have consistent returns at the end. ILP on the other hand will be cheaper in price but returns are not guaranteed. So my advice is, how much protection you need and what is your budget, then only decide what policy to get.
5. Look at their sales illustration and ask them what every rider means. Yes you are true that different agents from the same company may give you different riders at different prices. But you don't need to worry because you may not need all of them. The rule of thumb to choose ILP is to look at the cash values projected at the end of 30 yrs. If the cash value is zero at say 25th year, then you will have a tendency to top up. Again this is based on illustration basis maybe 3% to 8% every year. This only serves as a guide. It may go higher or lower depending on the economy.
6. For life and CI, the term is normally 100. For med card is normally 70, 81 and 100. So on the med card, do look for every pros and cons, meaning if a card can cover you up to 100, but lacks this and that, then whats the point? Again in M'sia, the sick age shall be in the region of 50+ to 70+. So judge this for yourself.
7. No not true. Depend on which company. For Great Eastern, AIA and ING, the life must be greater or equivalent because their CI rider will deduct a portion from them when a claim is made. For Allianz and Pru, you will have the option to seperate out the CI rider meaning if claim CI, it wont affect the life portion. These are the companies that i've gathered information so far by reading their policies. GE, AIA and ING may have new riders, so agents from these companies do confirm ok.
I hope my lengthy explaination helps you.
PM me if you need a quote for comparison ok. I'm from Allianz.
Thanks.
.
TQ, pm u my details d1. 70% on product and 30% on agent. Because life insurance is to protect you. If agent does not service, you can do yourself in their headquarters although it'll be a bit troublesome.
2. From the illustration you see i ILP is fixed. Because ILP works on unit cancellation, and the cost of insurance is not guaranteed, and if the performance of the fund is not so good in the future, you may need to top up to get your ILP working. To see how it works, pls attached a copy of the illustration of your ILP proposal and I'll teach you how.
3. There are life stand alone card and general stand alone cards. Life cards are normally guaranteed renewable up to a whatever age the card expires. For general cards, it is normally not guaranteed renewable.
4. Take note when you buy a traditional policy with premium waiver because a premium waiver will normally waive the basic death portion. The riders ie. CI or Medical Card or PA premiums u still need to pay. Traditional policies will be priced higher for the same coverage as compared to ILPs, but the advantage is you'll have consistent returns at the end. ILP on the other hand will be cheaper in price but returns are not guaranteed. So my advice is, how much protection you need and what is your budget, then only decide what policy to get.
5. Look at their sales illustration and ask them what every rider means. Yes you are true that different agents from the same company may give you different riders at different prices. But you don't need to worry because you may not need all of them. The rule of thumb to choose ILP is to look at the cash values projected at the end of 30 yrs. If the cash value is zero at say 25th year, then you will have a tendency to top up. Again this is based on illustration basis maybe 3% to 8% every year. This only serves as a guide. It may go higher or lower depending on the economy.
6. For life and CI, the term is normally 100. For med card is normally 70, 81 and 100. So on the med card, do look for every pros and cons, meaning if a card can cover you up to 100, but lacks this and that, then whats the point? Again in M'sia, the sick age shall be in the region of 50+ to 70+. So judge this for yourself.
7. No not true. Depend on which company. For Great Eastern, AIA and ING, the life must be greater or equivalent because their CI rider will deduct a portion from them when a claim is made. For Allianz and Pru, you will have the option to seperate out the CI rider meaning if claim CI, it wont affect the life portion. These are the companies that i've gathered information so far by reading their policies. GE, AIA and ING may have new riders, so agents from these companies do confirm ok.
I hope my lengthy explaination helps you.
PM me if you need a quote for comparison ok. I'm from Allianz.
Thanks.
.
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