Hi Coolberi2,

1) The answer is sure to be yes. Not only the plans you should compare, but also the responsibility of the agent. Especially when it comes to ILP products. What I've been seeing is a lot of agents out there keep selling ILP plans, but themselves not really understand how does an ILP product actually works.
2) Fixed premium is just an illusion. Since your policy fee and the cost of insurance is charged by cancellation of units, you won't notice the changes until your units is not enough to pay for the insurance fee and you're forced to increase your premium. Investment return of any ILP product is not guaranteed so we can not guarantee you that your premium will not be increased in future.
3) Most of the insurance company offer guaranteed renewable medical card, including ING. Confirm with the agent first.
4) Not understand your question. Are you asking whether you should go for traditional life or investment-linked? For those people with a low risk tolerance level and don't know how to monitor the funds investment, go for traditional life. If you choose ILP, make sure that you always monitor the funds performance and able to do a portfolio re-balancing when necessary. Lots of people buying ILP without monitor the funds end up losing their money there.
5) Insurance agent will give you advices and explaination on the riders, but it's you to determine whether it can meet your needs.
6) I think this will base on your needs. How long do you need the insurance protection to be with you?
7) Yes, the life coverage must be greater than its rider. Actually the basic plan is sharing its sum insured with its riders. When a rider is being claimed, the sum insured of the basic plan will be reduced.

Please reply to cheahyang_0@hotmail.com if you have any inquiry want to ask me. Thanks!

Just curious, which insurance company offers such a good commission scheme for life/investment policy?
My insurance company didn't pay me so much...
However, so far I'm satisfy with my insurance company as it provides me with the courses that I needed to pursue my professionalism.



What's so great about passing the exams required? Even a part-time insurance agent have to pass PCE exam in order to sell insurance. In addition, there's lots of agents out there who have passed CEILLI exam as well but what can I say is they don't even know how ILP works (even though they have been sold a lot of ILPs to their customers)!
To me, I think the exams required to be an insurance agent is not enough actually. Unless you tell me that you have passed some of the professional exams such as RFP, CFP and etc, otherwise it's nothing to brag about.



True enough... Totally agreed with you!

Saving plan with free insurance coverage is a conventional insurance plan. The plan you shown above looks like an endowment plan + 36 CI plan.
There's no free lunch in the world. The more protection you need, the more you have to pay, otherwise you may get lesser maturity return from your saving plan. Don't ever get the wrong idea that insurance coverage is free.

This is Gavin from ING. You may discuss with me through my email at cheahyang_0@hotmail.com

Hi,

None of the insurance company have the best plan that suits everyone. You may compare a few companies, see how their policy contract protect you, then you decide which one is the best for you. You may listen to other people's suggestions, but no one can tell which is the best for you other than yourself.

When comparing insurance, one should never be attracted by cheap premium or best return. If the premium is cheap, there should be more T&C limitations for its coverage. If the return is higher, do aware the risks involve which shall be borne by you.

If you need a quote from ING Insurance, you may reply to cheahyang_0@hotmail.com and I'll be happy to assist you.


Regards,
Gavin Lim from ING

Hi,

This is Gavin Lim from AIA. If you would like to have a quote from AIA, kindly send your age, gender, occupation and smoker/non-smoker to me.

Advantages of AIA medical card:
Standalone Medical Card: No Lifetime Limit up to age 100, Zero co-insurance for claims within a specified amount!
Medical Card Rider: Increasing Annual Limit, No Lifetime Limit up to age 100, No co-insurance (Only applicable for plan 150 & above only)!

Hi,

We don't say it is guarantee renewable. However, unless the company withdraw completely the policy from the market, otherwise renewal shall be at your option.

Here's related part from the contract of the policy:

PERIOD OF COVER AND RENEWAL
This Policy will be renewable on each Policy Anniversary, by payment of the premium in advance at the premium rate determined by Us at the time of renewal.
This Policy will be renewable at Your option subject to the terms, conditions and termination at each anniversary of the Policy Anniversary.
The renewal premium payable is not guaranteed and We reserve the right to revise the premium rate applicable by giving You three (3) months notice in writing by ordinary post to Your last known address in Our records. The revised premium will be applicable from the next renewal of this Policy.
Such changes, if any shall be applicable to all Owners irrespective of their claim experience according to Our risk assessment.
This Policy is renewable at Your option until the occurrence of any of the following:
(a) non payment of premium or premium not made on time;
(b) fraud or misrepresentation of material fact during application;
© this Policy is cancelled at Your request;
(d) the Insured Person ceases to qualify as a Dependent;
(e) the Insured Person attains the coverage age limit specified; or
(f) termination of coverage for all policies in a certain market and We withdraw this Policy completely from the market according to the Portfolio Withdrawal Condition.

Hi,

The overseas medical bill is claimable on reimbursement basis since there is no panel hospital outside Malaysia. If you are AIA medical card holder, you are being covered worldwide but subject to a maximum of 90 days protection if you are traveling outside Malaysia, Singapore and Brunei.

Good news! All medical cards issue by AIA from 17 June 2013 onwards shall not be subject to co-insurance (except for A-Plus med plan 100). And the additional room and board whilst overseas will include Singapore and Brunei as well. Effective date shall be from the end of August onwards (actual date to be confirmed later).


Regards,
Gavin Lim from AIA Bhd.

This post has been edited by gavin_lim: Jul 27 2013, 02:05 AM

Hi,

For AIA medical card, we have family plan which covers insured and spouse and even up to 4 children as well.
If you would like to discuss more with me, kindly send your details and inquiries to cheahyang.lim@aia-premier.com.my

Good news! All medical cards issue by AIA from 17 June 2013 onwards shall not be subject to co-insurance (except for A-Plus med plan 100). And the additional room and board whilst overseas will include Singapore and Brunei as well. Effective date shall be from the end of August onwards (actual date to be confirmed later).


Regards,
Gavin Lim from AIA Bhd.

This post has been edited by gavin_lim: Jul 27 2013, 01:59 AM

Hi,

Find an agent from each insurer to explain their plans to you. Then you make your decision that which one suits you the most. Different people have different needs so it's not possible to have a plan that can be best for everybody.


Regards,
Gavin Lim from AIA Bhd.

Investment-linked plan is different from savings plan (endowment).

For an investment-linked plan, you can customize your own investment portfolio according to your risk appetite. You may switch between different types of funds with different risk level to optimize your investment return from time to time, just like a unit trust do. At AIA, currently there's no charge for the switching process no matter how many times you do switching on each policy year. However, cash value for this type of policy is projected and is not guaranteed. The actual cash value is depends on your investment return from time to time so may be vary than the figure shown to you in the quotation, especially when you choose to have a high risk investment.

For endowment plan, you are participating in company's investment so normally the return shall fall within the range shown to you in the quotation.

Does endowment plans generate higher return than FD? Do remember the endowment plans in the market is not the same with FD, there's insurance element that comes with the plan and there's no free lunch in this world. So when you consider endowment plan as a savings plan with free insurance, then the return may be lower than FD.

Does investment-linked suitable to be savings or investment? It depends on your risk appetize and your desired target of return. There no right or wrong answer I think.

Hi,

You may have a look at AIA family plan. We have 3 type:
1. You and your spouse
2. You and 4 of your children
3. You, your spouse and 4 of your children

Each of your family member have their own annual limit and medical card for cashless admissions at our panel hospitals.
Any enquiry you may send to me at cheahyang.lim@aia-premier.com.my



Regards,
Gavin Lim from AIA Bhd.

Hi,

The premium rate shall not increase because of your claim experience. However, the premium rate is based on your attained age and it is non-guaranteed. Any increment shall apply to all policyholders upon their next renewal of the policy.

Here's the statement written in our policy contract:
The renewal premium payable is not guaranteed and We reserve the right to revise the premium rate applicable by giving You three (3) months notice in writing by ordinary post to Your last known address in Our records. The revised premium will be applicable from the next renewal of this Policy. Such changes, if any shall be applicable to all Owners irrespective of their claim experience according to Our risk assessment.



Regards,
Gavin Lim from AIA Bhd.

Yes. You can increase the sum assured of existing plan (may subject to underwriting) to protect your loan. MLTA=life insurance. Since you can top up your existing ILP plan, what for buy a new one?

For life insurance, there are 3 types, conventional, investment-linked and takaful (Islamic Insurance).
For conventional policy, the premium is leveraged. So you don't have to worry for rising cost for insurance at older age since you already paid upfront. ILP instead, don't have a fixed cost of insurance. When we grow older, we can expect the cost of insurance to be gradually increased.
Which is better for you? It depends on your choice. Let me make one assumption. Let say you go coffee shop for a cup of coffee each day for 30 years. The boss is giving you 2 options. Option one is you pay RM1.50 for a cup of coffee now, but the boss can increase the price of the coffee every few years, depending on the market price. Or option 2, you pay RM2.50 for a cup of coffee now, the boss guarantee never increase the price of the coffee. So which option suits you better?

Hi,

This is Gavin from AIA Bhd. Sorry to tell you that AIA don't have female care plan at this moment. Now we only got early critical care plan which covers up to 95 critical events.

Last time ING have a very great plan for female care. Therefore, most probably AIA will also have female care plan in future.