Lately, moderating team found that there are lot of topic on insurance related issue which cross linked one to another which resulted redundancy and duplicating answer and discussion in between, so in order to concentrate general issue related to insurance, in the future, this thread will be served as insurnace general talk issue for any discussion for insurance related manner mainly because it holds most of discussion and information.

Specific topic still being allowed which talk about special and specific condition. But forumers can do a favour by posting general issue in this thread which not only ease for reading, posting and discussion, it also will be benefitted to all as a platform of source of information regarding insurance.

Currently, most previous insurance topics are being closed, so that traffic of discussion being diverted to this topic, but any TS or forumers can PM moderator if really needing those thread to be re-opened or merged into this thread or any other reason.

Your cooperation is appreciated.

Thanks.

For motor insurance, everyone with a vehicle has to buy it. However, many people have difficulty in renewing their vehicles especially lorries. Why? Please read my post titled WHY IS IT VERY HARD TO RENEW MOTOR INSURANCE (THIRD PARTY LIABILITY) IN 2009?.

For ILP, the world economy now is in crisis. This situation will affect the returns of investments. Most of us are not high risk takers especially during the time world economy is in trouble.. People who can't take high risk will not consider buying it. As a result, this group of people will prefer traditional life insurance plans which offer guaranteed features. Therefore, ILP will be affected significantly. But, for life insurance plans other than ILP are generally growing in terms of new cases.

Please correct me if I am wrong...

Please read PERAKAN VOICE. Hope you know Mandarin.

For ILP, from what I know, ILP is a good plan provided that no riders are attached to it as the premiums of the riders are not fixed. They will affect the investment value of the ILP in the long run. If we attach a lot of riders to it, the ILP may lapse in the future if the cash value is not enough to cover the increase in premiums of the riders and the insurance charges as they increase as we get older. To avoid this situation, policyholders have to pay extra premium. How I know this? I heard a lot of complaints about their ILPs from many policyholders not only from AIA and Prudential...

Please correct me if I am worng.

I dun noe gt any promotion o nt..
Bt AIG is quite ok..
It comes with free AAM towing service for 1 year..

Thanks bbjslee.

Few questions. Just explain briefly will do.

1) term insurance. whats the difference taking 5 years or 30 years?
5 years term you are covored for 5 years only  . . . 30 years meaning you are covored for 30years as long as premium paid
Different individual have different needs  . . . same goes for the years required for coverage


2) If my company already has group coverage for medical insurance, do I or people in general still take out medical cards on their own? Can I skip the medical card now and purchase only when I retire or no longer with the company?
Yes, ppl in general will take up additional medical card for the own .  . . but normally with a smaller sum assured
But there are still some people who are in the upper management who are well covored by the company  . . .  so they dont need 1

3) Is whole life same as term? I read there are traditional producrs like whole life and endowmwnt. where is term life?
Different  . . . whole life insurance you need to buy & pay the insurance as long as you live
while most of the term insurance have slgihtly lower in premium with relatively higher coverage ( normally is 0 cash value when mature )

4) I also took MRTA for my housing loan. I compare roughly to the premiums i paid for term life and find that MRTA actually serves me better because it is cheaper PROBABLY because it is some sort of REDUCING COVERAGE where the coverage becomes lesser as more of the loans are settled. This suits me because as time passes I no longer need more protection as my kids become independent. Am i thinking correctly? If yes, can we get term life with MRTA characteriestics in malaysia? I find term life quite expensive in malaysia. I want to reduce the premiums. Maybe , I will cancel the term life, then get another smaller property under MRTA for extra coverage.
You are correct ^^

Thanks a lot./

Dreamer,

- A Nobel Prize winner scientist maybe only have a networth of 2 million. But are you sure his life only worth 2 Million?
- A bread winner maybe has a networth of 50k, after minus his various loans, but he has a wife who have no financial income, and 3 young children. So his life only worth 50k?
- A young child of a Dato' got kidnapped, the kidnappers demand a ransom of 1 million. Is the child's life worth that much? His networth maybe just few k in the bank.
- Who taught you your life worth = your networth? I would really like to know.

GE, Supreme Livin' Care Plus. Traditional 3D Participating Policy.
Age 30, Male, Non smoking. Class 1 occupation.
Basic sum assured: 100,000. 3430 p.a.
BSA: 200,000. 6860 p.a.
BSA: 300,000. 10,140 p.a.
BSA: 400,000. 13,520 p.a.
BSA: 500,000. 16,900 p.a.
In your example, 13520/6860 = 1.97!! It is even less than 2!!!
Tell me does it increases exponentially?

Stop BS Dreamer, you maybe older and more experienced than most of us here. It doesn't make you an expert in financial planning matters. And in this case, about insurance.

P.S.: Why does someone who is not an Insurance Agent trying to teach insurance agent about their own products? They should just shut  up.

Hi all,

Received a brochure from Maybank. For RM37.20 per month, can cover up to RM700,000 for disability from accident.

My question is:

1) Are accident disability insurance necesary and if so, is it better to get from a nrmal insurance company or from the bank?

2) This policy only covers disability from accidents..any policy that cover disability from ANYTHING including diseases in Malaysia?

Well, for your information, ING is up to 80.
Do anyone feel that they need coverage up to 100?

it's part of company Benefits
and somecompany bought some insurance just to protect themself,
incase like their staff done somthing terribly wrong and gone into legal suit. jus to cover their ass la

do u really need a medical card coverage up to 100 years old? is it necessary? doesn't the cost of insurance increase more after 80?

hey does anyone have a policy from manulife? i currently have a policy from prudential but for the same amount of money manulife gives me a higher annual medical limit. Is there some sort of catch ?

if upgrade the life/tpd from existing ILP policy,still need for the waiting period?

hi all, i am looking suggestion for a insurance plan

22 this year, non-smoker and i have consider to take the ILP first

Since ILP will be cheaper for young adult, and the coverage also quite large, it got include death, TPD, medical card and 36 CI with an affordable price

Any comment and recommendation?

Im smoker and i m at early 30s ..any plan can u suggest for me?

should i go 4 medic check up first?

i must say that i am noob when it comes to insurance.

i do have my own insurance, but when my sister-in-law ask me about insurance for her baby, i could not think about any good insurance.

basically, what is a good insurance for a 8 month old baby? my sister in law are actually looking for education insurance, which would be beneficial for her baby when she starts her tertiary education.

hey guys any insurance coverage for working overseas especially in singapore. Won't be long in malaysia, still thinking whether to get one. I already have life insurance

my mother is about 61 years old, very healthy, any health or medical insurance to recommend. Surgical coverage if possible

Dear all, any idea if age of 65 still can buy new medical card ?

can anyone quote me :-

47 years old non-smoking
sum assured life 300,000 (double if accident happen)
sum assured TPD 300,000 (double if accident happen)
CI sum assured 300,000

Hi ppl,

i'm very new in insurance but i believe i must start buying now while i'm young. i'm 24 years old this year, just started working, looking for a good saving plan insurance. i hope someone can delight me with some inputs. how to choose a good insurance plan while saving. i bought those cheap insurance which only covers but doesn't save b4. plan to get one with savings. budget is below rm400. any companies i should look into?

3 questions:

1) I'm a married woman. Do I need a life insurance coverage? Or medical card is enough? I think life insurance only needed for a father?

2) For a man aged 40, is RM260 on insurance too expensive?

3) If terminate the insurance RM260 & buy new insurance, will it be more expensive?

So for me & hubby, what's the best insurance plan can you guys advice?

TQ 

not necessarily true?! fact: all insurance companies are here to make profit. they are not charity organisations but very much profit-oriented. furthermore, all insurance companies are governed by BN and definitely there're strict framework for all of them to abide too and thus the difference between one product to another product from other companies is pretty minimal. if company A is providing no co-insurance and claim that its insurance charge is lower than that who incur co-insurance, it's definitely bull$xit.

the blogger who shared the info merely made comparison based on some facts that he gathered from product brochures. it doesn't give a fair and complete comparison with the actual figure that could only be found in the policy documents and whether or not he was comparing the latest products among all the companies is questionable. anyway, kudos for his effort in putting up the comparison of some sort but it is still way too vague and lack of credential.

hi guys.. Anybody heard the new pru flexi medical card? Can choose any combination for annual limit and R/B, can opt for no co-insurance, if R/8 lower than limit then get paid for the difference, lifetime 20x annual. Any catch?

---

Added on February 21, 2012, 7:36 amhi guys.. Anybody heard the new pru flexi medical card? Can choose any combination for annual limit and R/B, can opt for no co-insurance, if R/8 lower than limit then get paid for the difference, lifetime 20x annual. Any catch?