INSURANCE TALK, ok let start
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 Jun 11 2009, 06:36 PM
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#1
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Junior Member
241 posts Joined: Nov 2007 
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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. Added on June 11, 2009, 6:37 pm QUOTE(lcl832002 @ May 13 2009, 10:00 PM) There is no NCD given when we buy insurance like life, PA, critical illness and medical card... Prudential 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 |
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Jul 6 2009, 05:18 PM
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#2
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Junior Member
241 posts Joined: Nov 2007
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Cover death and total permanent disable from accidents? Or only death?
Any exclusions? |
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Jul 23 2009, 04:00 PM
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#3
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Junior Member
241 posts Joined: Nov 2007
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QUOTE(xuzen @ Jul 23 2009, 03:06 PM) Hello Forumers, This is Prulink education plan or prulink assurance plan?Below is an Investment Linked Product for my daughter (next b/d = 3 y/o) that my Financial Planner proposed: Prudential Investment Linked: i) Basic Sum Assured - RM 150K, (Premium - RM 1,018.80 p.a.) ii) Crisis Shield Plus (Dread Disease Cover) - RM 150K (Premium - RM 1,183.50 p.a.) iii) Med Card (H&S) - Premium = RM 693.00 p.a. (RM 75K per annum, Life time = 750K, Daily bed = RM 200.00) iv) Enhanced Prupayor basic - RM 104.70 Total premium p.a. = RM 3,000 What do you guys think? Xuzen Seems like your daughter policy have huge sum assured on Death/TPD/Dread desease. Which I don't think a child needed so much. From your daughter policy, I did not see the following benefits, did your agent introduce this to you? - Enhanced PruParent -> Prudential pay for the policy if the parent Death/TPD/Dread desease - MCP -> Claim up to 3 times for dread desease - Accident - Hospital benefit -> Daily cash hospitalization allowance |
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Jul 23 2009, 05:41 PM
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#4
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Junior Member
241 posts Joined: Nov 2007
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QUOTE(xuzen @ Jul 23 2009, 04:53 PM) The title on my proposal states PruLink Assurance Plan. PAP is same as PEP except for the things below:No Enhanced PruParent, it is stated Enhanced Prupayor basic. I agree with numbertwo, the SA is a bit highish for a child. I shall have ask him to reduce it min whilst maximizing the unit trust contribution. Xuzen - PAP expiry date up to age 100 while PEP up to age 25 - PEP can use for tax deduction - Enhanced PruPayor insurance charges is abit higher for PAP as it is up to age 100 If you do not need to use it for tax deduction, then PAP is suitable for your child. You can still surrender your policy after your child reach around age 25 due to education fees, the cash value will still be the same(if the benefit is the same). Even with PAP, you can still attached Enhanced PruParent inside for a child. MCP is also a good option instead of Crisis shield plus as the insurance charges is very close. Also, you have the option to put extra money into PRUSaver which is purely for investment. 95% of premium into PRUSaver will be use to buy units and the rest for charges and commission. If you have anymore questions, you can consult your agent or ask here. |
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Jul 24 2009, 11:13 AM
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#5
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Junior Member
241 posts Joined: Nov 2007
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QUOTE(PJusa @ Jul 24 2009, 09:07 AM) iv) Enhanced Prupayor basic - RM 104.70 Not sure what you trying to say here. Enhanced PruPayor basic is rider that will pay for the premium if he gets TPD/diagnosed critical illness.Total premium p.a. = RM 3,000 unless you can really add to your tax savings, this structure is wasting your money. how much of the 3k can you still claim? how much taxes does this save you? the tax savings must exceed the additional costs you are facing for it to make any sense. even if you downscale the fixed costs to make it tax claimable is Enhanced Prupayor basic - RM 104.70 - so you need to save at least 104.71 to even consider this plan. compare the savings you can have when you split the insurances also. the medical insurance cost you can claim anyway as well. so no additonal savings from this anyway. i hope i made some sense to you  Also, bear in mind that the policy he have is not able to make tax relief because it is not Prulink education plan which I already explain earlier. |
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Jul 24 2009, 05:22 PM
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#6
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Junior Member
241 posts Joined: Nov 2007
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You cannot use PAP for tax relief. For PEP, you will be the owner of the policy and your child is the life insured. Plus, you will need the PRUParent Payor rider in order to eligible to claim tax.
numbertwo is correct for the tax relief on the RM3k medical. You can claim premium of PEP under the RM3k medical/education. For PAP: 3k medical is for the protection part(medical card, waiver, ...) 6k life + EPF is for the life part(death, TPD, 36 Illness....) This post has been edited by c.o.o.l: Sep 26 2009, 10:01 AM |
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Sep 10 2009, 02:15 PM
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#7
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Junior Member
241 posts Joined: Nov 2007
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QUOTE(jutamind @ Sep 9 2009, 03:22 PM) i currently have AIA investment linked policy which was bought 6 - 7 years ago. I'm currently reevaluating the policy especially the medical plan coverage and found out that the coverage in the plan is not good enough now. I'm looking at alternative new policy from Allianz PowerLink now and wondering what i should do. Basically, I have a few options below: A) Consult your agent about the upgrade and also how much you need to top up in order to get the protection you needed. Currently AIA having this ECP + MCP which improve the outpatient limit and also have unlimited lifetime limit. Then compare this with the other option.A) Upgrade the medical plan in current policy to higher coverage - but the upgrade might be still subject to limitations that exist in the T & C specified in the policy 7 years ago. B) Scrap the medical plan in the investment link and buy stand alone medical card - disadvantage: potential have to spend more $ per year for insurance and moreover, i have hypertension now, i.e. new medical card will be more expensive C) terminate AIA policy and buy new Allianz PowerLink - disadvantage: losses $ to terminate insurance policy. What is a good option to choose from? appreciate comments and critics. B) If you currently having hypertension now, there might be loading/exclusion when you apply for a new one/upgrade. Just take note on the following: - Do not terminate your existing medical card before your new medical card complete its waiting period(include specific illness waiting period). - Understand the pros and cons of standalone medical card compare to medical card attach as rider. C) Not advisable. Your insurance policy already 6-7years, which the premium allocation is now 100%. Buying a new ILP will restart the premium allocation again which is not good for you. |
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Sep 11 2009, 10:32 AM
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#8
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Junior Member
241 posts Joined: Nov 2007
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QUOTE(jutamind @ Sep 10 2009, 04:15 PM) if i upgrade to this new AIA ECP + MCP package, will i be subjected to medical checks since i have hypertension now (as compared to no such illness when i first bought the policy)? any AIA agent care to explain? I believe that whether or not you need to do medical checkup will depends on the underwriter not the agent. What you can do is to consult your agent about this and ask him based on his past experience about this case in AIA. And also agent will need to know what is your current policy type/plan is. Then only they can tell you whether you are entitled to upgrade or not.Hypertension doesn't means that you will definitely get loading/exclusion. It will depends also on the severities. My father is also having hypertension when I propose a case for him, but he still get accepted as a standard case without any loading/exclusion. |
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Sep 12 2009, 05:34 PM
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#9
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Junior Member
241 posts Joined: Nov 2007
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Prudential - 10%, min RM300, max RM1000
GE - 10%, max RM500, 20% if exceed room limit ING - no co-insurance Allianz - no co-insurance AIA - 10% max RM3000 if exceed free co-insurance amount |
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Sep 13 2009, 12:48 AM
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#10
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Junior Member
241 posts Joined: Nov 2007
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QUOTE(numbertwo @ Sep 12 2009, 05:46 PM) Someone should verify again : Yup just check again the brochure, ING with RM50 deductibles on ING Mediplus medical card. Not sure about Allianz, anyone to confirm that?Allianz - There is a 20% co-insurance if you upgrade Room that is higher than the plan purchased. And there is a deductible of RM100 per admission. ING - Deductible of RM50 per admission i think! |
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Sep 15 2009, 02:27 PM
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#11
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Junior Member
241 posts Joined: Nov 2007
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Normally those that without co-insurance 1 is already some how calculated inside the premium. So, it does not means that it will provide best value. It will depends on what you actually need.
And also hospital tends to charge more on those medical card that without co-insurance. This is because they know how much they charge you will not care(Cos as long as we no need to pay, its ok). So for those no co-insurance medical card holder, check your bill too and questions the hospital staff if it is charge higher than normal. Do not let the hospital to earn your money too much. Your relative holding Prudential medical card? Maybe she have another rider of cash allowance that cover up the co-insurance already. This post has been edited by c.o.o.l: Sep 15 2009, 02:27 PM |
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Sep 15 2009, 06:34 PM
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#12
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Junior Member
241 posts Joined: Nov 2007
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rider means additional benefit attach to your policy.
Rider of cash allowance means an additional benefit of cash allowance when admitted to hospital. For Prudential, there are 2 types of this rider: - Hospital Benefit - PRUMed |
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Sep 17 2009, 09:57 AM
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#13
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Junior Member
241 posts Joined: Nov 2007
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QUOTE(numbertwo @ Sep 16 2009, 10:42 AM) there u go, u got the answer don't you? Also not to forget AIA is until age 100 while ING is only up to age 70.There is always a cost to something that is 'good', in this case, AIA's unlimited lifetime limit !  |
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Sep 17 2009, 10:39 PM
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#14
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Junior Member
241 posts Joined: Nov 2007
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QUOTE(jusco1 @ Sep 17 2009, 12:30 PM) does the no claim bonus really pay us back the money? Yes. It will pay you back when you did not make claim in a year.how much will it be? Pay back amount is from RM100 ~ RM500/year depends on the plan you choose. |
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Sep 23 2009, 11:52 AM
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#15
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Junior Member
241 posts Joined: Nov 2007
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QUOTE(numbertwo @ Sep 23 2009, 11:07 AM) sorry to hear that jutamind, Thanks for it. I've already send jutamind a message and hope can provide some help.i think we hv a few good pru agents here in the forum, i think c.o.o.l is one? Maybe they can help.. Added on September 23, 2009, 11:58 am QUOTE(yoshiishi @ Sep 23 2009, 11:07 AM) Hi All, monthly payment of RM220 should be consist not only medical card(Smart Medic), it should be with other plan too. But not sure it is traditional or ILP. Got a colleague turn agent ask me wanna buy insurance or not. I currently dont have any insurance coveraga, so he Recommended me Smart Medic -GE, monthly payment is RM220. Not sure to take it up or not. Anyone have this, whats the pros and cons of this plan. Is there a better plan from other insurance company out there? Btw - age is 31, non smoker. Thanks is advance. Whether there is any better plan will depends on your needs. No such thing as best plan that suit everybody. This post has been edited by c.o.o.l: Sep 23 2009, 11:58 AM |
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Sep 23 2009, 03:06 PM
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#16
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Junior Member
241 posts Joined: Nov 2007
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yoshiishi,
Yes there is many other company offering this kind of plan. And you actually need to understand how ILP works. |
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Sep 25 2009, 01:56 PM
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#17
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Junior Member
241 posts Joined: Nov 2007
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QUOTE(DalphinuS @ Sep 25 2009, 01:04 AM) Wow... Any LYN members from any insurance company? I believe there is alot here.Among the top 5 insurance company? |
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