It's actually RM1440 (RM120x12), still quite a big sum

Well, the standalone critical illnesses plans that I've seen does not offer very high coverage - the highest is RM150k. By combining 2 plans I get RM250k (the important thing is I must be able to claim from both plans for the same disability), which is the amount that my financial planner recommends, considering that I don't have family to fall back on and might have difficulty finding a new job quickly if I lose the current one, since the industry I'm in is small and my skills are too specialised.

As for the 2 medical cards, one will be my main card while the back-up card serves to increase my annual limit and lifetime limit. My main card's annual limit is RM150k, which is enough to cover almost any disability at today's medical prices. The additional RM100k annual limit from the secondary card is to hedge against medical inflation, which is reportedly 10-15%.

I'm not sure I need so much coverage, but I've seen so many older friends fall ill with things like diabetes, tumours etc that I feel it's better to buy any policies that I can afford while I'm healthy.

Veda,

combining two policies is a good idea if you ask me. but you might want to check if 250k cant be bought cheaper as a single plan (with a higher lifetime limit). the premium is based on expected loss and the higher charges are less likely which is why the cost per 1k cover goes down with a higher limit.

two CI sounds fine if you want to cover that particular risk. i think premium wise there are not too many choices anyway for standalone. later when you dont need to cover as much anymore you can easily cancel one CI and use the savings for the increasing costs of your H&S plans.

Sorry my poor math.

Anyway, buying insurance is something you need it now, buy a "spare" insurance is not recommended for most people especially for financial tight people.
If one has money to burn, or want to have more/extra protection, a spare insurance to fall in etc., That's fine, I have no problem with that.
Just like buying 2 cars, just in case one car breakdown. If one can afford it, no problem.

Insurance, you can always buying afterwards, although it might be more expensive to buy later on (as medical premium genereally correlated with ages), but consider that, now you are burning money with duplicate medical insurance, it could be the same with buying more expensive later on. You save nothing and hedge nothing in this case.

Amount of coverage is depended on your affordability in term of financially. If you view Rm1440 pa. is a big sum to start with, then I would advise you look deep into the duplicating/doubling the insurance premium issue.

If life-time limit concern you, there is medical insurance come with 250K life-time coverage as well.

Whicn medical got cover out patient case?

only one i know which covers outpatient is MSIG subject to 100 RM deductable per visit and max. 20k per year. their policy is not guaranteed renewal. also their benefits are nothing to shout about. lots of eyecandy only. max age also low if i remember correctly - 65

I interested to buy CI + saving + investment + medical card + etc insurance.

Gt such plan?

Can, u can get an investment linkedplan+ an endownment/wholelife insurance plan.

No

I mean in single plan.

MNet,

what's the rationale for a "plan" like this. it wont allow you to shop around, mix and match and worst of all it would combine two things that are entirely different on top (savings + insurance). i dont think opting for such a wide plan would make much sense to any purchaser. i know its a blanket statement but this would be asking for universal cover + savings + investment which makes little sense for either seller or buyer. you should build your personal plan from the bricks (i.e. offers) available on the market.

Any medical plan cover CI?

a medical plan and CI cover entirely different things. they are almost never combined unless you buy a life insurance with the respective riders.

There are 3 new plan which is regular contribution traditional term certificate and participates in investment profit:
PruBSN Protect - pays lump sum benefit if you die during the term certificate of the certificate or become totally and permanently disabled before age 70
PruBSN ProtectPlus - pays lump sum benefit if you die during the term certificate of the certificate or become totally and permanently disabled before age 70. The Basic Sum Covered will increase 5% for every 3 years till maturity.
PruBSN CrisisCover - PruBSN Protect - pays lump sum benefit if you die, upon diagnosis of critical illness during the term certificate of the certificate or become totally and permanently disabled before age 70

It is hard to say it is better because it is very subjective. Different people have different purpose to have insurance/takaful.
What I can say, it is cheaper compare to Takafulink but no medical card rider.

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Added on September 17, 2010, 2:46 pmYou can get all those in Investment-Link Plan (ILP).

In ILP, you can add/remove and increase/decrease your protection as well as premium at any time. You can also have your saving/investment portion which only be deducted 5% from your monthly saving/investment premium. The good side, you can protect your saving/investment, in case you are diagnosed with CI or suffer TPD, the saving will continue until maturity (between age 80-100).

This post has been edited by ajau: Sep 17 2010, 02:48 PM

Yes, that's what I plan to do The premium for CI goes up drastically when a person reaches his 40s - if necessary I'll drop one of the CI plans then.

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Added on September 17, 2010, 3:29 pmYour reasoning is persuasive but ..... no insurance company will sell a person a medical card once he has suffered a major illness or injury. In fact, insurance companies are overly eager to impose premium loadings and exclusions even on relatively minor problems.

But I agree that the important thing is I must be able to pay the premiums, year after year.





This post has been edited by Veda: Sep 17 2010, 03:29 PM

Which insurance company offer the good coverage? My friend said that ING is the good one. Isnt it?

As I said, this is not a perfect world.
If you have extra and income the support the excessive premium due to duplicating insurance, then nothing wrong or no issue at all.
But majority people need to plan properly and allocate their financial resources carefully and appropriate.

You don't want to spend all your money into insurance, and left little for saving.
No saving, no money, you die tomorrow.
Sound a bit harsh but this is the reality.
No income time, due to you overspend on insurance previously, you left little saving, you will be struggling to pay for daily expenses. And due to no saving left, you are not able to pay the insurance premium and lead to insurance cancellation. Double blow.

As your case, you just cover yourself only. How about future you got family time.
Don't need life-insurance to protect your family?
Don't need money to raise your kids?

Just like your said, your drop CI after reach 40s, but CI generally happens after we reached 40s.

We cannot have all. Just plan properly what you need and according to priority.
Just like you have 1 medical that guaranteed renewal. So it is basically cover the basic need already. I am not saying your don't need medical insurance, I am saying you don't need 2 medical insurance just for want to have higher life-time limit if your budget is constraint.

Life-time limit of 150K vs 250K (with 2 medical card) is less important already or secondary in priority.

Appreciate your advice. I can't reply without revealing too much of my personal details, which I don't like to do, so I'll just say thank you.

This post has been edited by Veda: Sep 18 2010, 04:35 PM

check out this insurance plan that has very high sum insured with very low premium

RM 1,000,000 for only RM 9xx per year
and according to the agent it is a normal accident policy not a limited one
and has all the % payout based on the injury as per other AIA PA plans

do you guys thing it is a good deal

[attachmentid=1787007]

the premium for the cover is nothing special. i pay only 800 for my 1M PA. details would need to be revealed to see the fine print. bear in mind - agent comission on PA is 25% - you might get a better deal if you insure directly.

how do i do that?
and which PA are you taking?

Last week, on TheStar, there`s this article on Insurance loopholes

According to the Insurance officer, "disclose your risk, your sickness, your symtoms, let us share the risk with you"

sounds good right? think again...

My brother in law whom suffered accident with steel implanted within the leg bone was rejected by ALMOST all insurance company. Since they share same database with hospitals and all the insurance company. THe agents said they willl insure everything but the leg.

buying insurance? ask properly what is not covered and being calculative and skeptical is more beneficial to you.



source: http://thestar.com.my/news/story.asp?file=...8556&sec=nation

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Added on September 18, 2010, 10:54 pmthis is the dilemma that lesser mortals felt..

I have only one piece of land. What should I do?

a) if I keep the cows, I`ll have beef and milk, but beef after few years;
b) if I keep chicken, I`ll have meat as well as eggs, (lesser time with lesser meat)
c) and so on...

same goes to insurance...

IF I were left 2k after expenses and I ahve saving, investment and insurance in mind.. which should I go for? being invested and not insured? being insured and not invested?

which yield more fruits?

This post has been edited by Awakened_Angel: Sep 18 2010, 10:54 PM