This is Personal Accident Insurance. Nothing fancy and new.

Cheap but only claimable upon death and permanent disabilities cause by accident.

There is no lowya insurance, there is just different insurance serve for difference purpose.

The coverage is not for death and permanent disabilities, the coverage is for accidental death and permanent disability.

A reasonable price for PA. However, not a very good deal in view of no partial disability, accidental medical reimbursement, cash allowance etc...

IMO, Tokyo Marine provide better and more comprehensive deal.

Thanks all for the feedbacks

From what I can deduce;

1) No cash value i.e money paid is non-refundable
2) PA only. In case of death, and permanent disabilities. Nothing else

However, am not sure what this meant :
"The coverage is not for death and permanent disabilities, the coverage is for accidental death and permanent disability." Ain't it the same?

And I believe this is better than nothing. But definitely not sufficient to be relying on this PA only. Is it aptly said?

Try get a agent face to face explain or go for training. You will understand more.

Death vs Accidental Death. Huge different.

A few scenario is good to ponder
1)Doctor accidentally done mistake in surgery, and the person pass away.
2)A policyholder accidentally drank a glass of clorox and pass away.
3)A policyholder having a heart attack while driving and resulting in an accident and pass away.
4)A policyholder with arthritis would become permanently and totally disabled within ten years. But an accident may have brought the effects forward so the policyholder immediately became permanently and totally disabled.
5)Drank alcohol and met accident and pass away.
6)Suicide and pass away.

Aha, didn't know that 'accidental' would mean a huge difference!
So one has to be very clear, as to whether the insurance policy they are holding
is for death, or accidental death.

Alright, so let say for this I-Insure thingy:

Scenario 1:
1 fella would want to undergo Lasik treatment, to repair his eye.
So he bought this insurance, to cover him from permanent disability.

As luck would have it, the surgery were Not successful.
He suffered from loss of 1 eye.

Does this considered as accidental, or not?

During the application of the tpd (total permanent disable) policy the lasik procedure may have been excluded until it has been performed.

In short, whatever issues that is already known you need to declare, and when you do declare - the risk will be assessed.

If it is approved without any exclusions, then yes, TPD is claimable.

I gave them an e-mail, and they responded:

It's actually good to take up policy prior to the surgery, as there may be chances that the surgery may cause accidental TPD.

I agreed with that.

And when I mention whether it is required to declare about the upcoming surgery, they mention no need.

On the downside, it only covers loss of sight to both eyes, which is claimable at 100%. Loss of sight for only an eye, then can't claim at all.

Sigh..

claimable when losing sight of both eyes is the definition of TPD aka blindness, the policy didn't cover for partial disability.

Indeed you are right on that account

That's quite a huge regular expenses, though it's a good thing that you have insurance for your parents just in case you will need it in the future.

I just want to share how I save. I also have other consultancy jobs apart from my regular job. What I do is I save 20% from each fees every payment, say if one client pay me 2,000. I keep 20% of that, then I do the same with others and save it to the bank for other investment. The other 80% of each, that is where I manage my finances/expenses... Hope this helps!

And I also have mutual fund and other form on investments.

Bro, think about Life/TPD, PA is the last thing we want to claim. Although is cheap, but we can't really claim and use it for ourselves.

Touch wood, if any of incident happen, the 1st thing & the most basic thing we need is medical.

My friend's husband, only 27 diagnose nose cancer, spend 70k++ for surgery (exclude outpatient). Lucky claim with insurance, else my friend & his family will have financial problem due to medical cost.

Illness is getting young these day, the most valuable thing in our life is health. Must take care before too late.

This post has been edited by conqu3ror: Nov 27 2013, 09:48 PM

Hi my friends,

How do I know whether my agent offered me a good deal for life with mlta insurance? I'm not sure whether the premium I'm paying is too high or too low (good deal) for the sum I insured...
Well this is my first time and I don't have any benchmark...
Can I post the insurance details with premium paid here?

Should be no problem i guess. This thread purposely for discussion. Or else mod will delete if not appropriate.

I understand that Insurance is generally associated to long-term commitment.

However, am wondering; is there any TPD insurance plan that caters for specific situations?


Coz here's the thing; my father-in-law will be undergoing Lasik surgery, and even though the Doc mention that there are no known cases of people going blind due to the procedures, I would want to be proactive.

As such, I plan to take TPD insurance plan for him, for this specific matter only. i.e once after the procedure is done, am not continuing with the plan.

Is it possible?

Bro, just get another quotation from another insurance agent.

Please PM me if interested.

If one has Alopecia Areata (patchy baldness), a condition caused by autoimmune response. But doctor said it is not contagious and no need to take medication or injection. Do we need to declare it when buying medical insurance?

Do note that agents are not medical doctors so please correct me if I am wrong in any way.

The health questionnaire on the proposal form would have picked this up (if any blood test was done before to determine this condition) if the agent explained thoroughly each and every question being ask.

It is not up to the agent to say whether the medical condition needs to be declared or not. It is what questions are being asked and how it is being answered.

Subsequently the underwriters may call for a medical exam by the attending Doctor to determine the severity of the medical condition.

Depending on the outcome of the medical exam the cover may be accepted as it is, accepted with exclusions or loading, or rejected.

36 CI @ RM 300k
Life + TPD @ 300k

Current age - 34 yo / non-smoker

What is the premium amount like for a traditional plan (non ILP)? Any agents out there than can help quote?

V2 @ https://forum.lowyat.net/topic/3050583