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INSURANCE TALK, ok let start
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jutamind
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 Sep 9 2009, 03:22 PM
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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) 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.
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jutamind
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Sep 10 2009, 04:15 PM
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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? QUOTE(c.o.o.l @ Sep 10 2009, 02:15 PM) 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. 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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jutamind
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Sep 11 2009, 03:16 PM
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yes, i do know that the premium for the medical plan is deducted through the units in the ILP. i do go through the yearly statements. btw, i do see the term "deductible" in AIA policy (for RM250). i cant recall what this deductible is for. can anyone enlighten me? QUOTE(numbertwo @ Sep 11 2009, 12:40 PM) I'm not an insurance agent, but this is what I know as a fact : Doesn't matter your medical plan is standalone or ILP, medical card cost/charges do INCREASE based on insurance co's band! Only difference in ILP is you won't notice the increase unless you read your yearly policy statement. |
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jutamind
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Sep 11 2009, 04:42 PM
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it was from the brochure that i saw and i dont have the policy doc with me.
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jutamind
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Sep 15 2009, 11:25 PM
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between ING IMPlus and AIA ECP+MCP (latest medical card from AIA), which one would you choose? am considering about this 2 cards.
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jutamind
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Sep 15 2009, 11:49 PM
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QUOTE(p3nang @ Sep 15 2009, 11:43 PM) is that impartial opinion or voted with vested interest?  |
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jutamind
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Sep 16 2009, 10:16 AM
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QUOTE(numbertwo @ Sep 16 2009, 10:02 AM) is hard to answer this type of question, don't you agree? Each has its own 'unique' feature..ie. ING has no co-insurance in any case, but AIA has unlimited lifetime limits; ING has a lower pre/post outpatients days limit than AIA; and ING has per-disability limit on the the Room(60 days per disability)...blablabla.. Is an Apple vs. an Orange to be frank. So, It all bogs down to what type of features in the card that attract you and that should lead to your selection. I guess the best way is to list down the features in point form, mark each of the feature which favours you the most with a tick, and count them at the end , that should tells you which med card suits you more. i was comparing the cost of ING and AIA ECP+MCP from >35 - 70 years old and found out that the total premium for AIA card is about 25k more expensive than ING card for the same age range. |
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jutamind
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Sep 17 2009, 01:53 PM
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QUOTE(jusco1 @ Sep 17 2009, 12:30 PM) does the no claim bonus really pay us back the money? how much will it be? dont think the NCB is significant and i believe the premium would have been hiked up to contain the pay back thing. at the end all status quo. to me, it's all marketing gimmick. |
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jutamind
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Sep 17 2009, 10:16 PM
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QUOTE(numbertwo @ Sep 17 2009, 04:31 PM) yup that's another difference... but insignificant to me as I don't believe i would need anymore coverage after 70.... the next question is: how many people is willing to fork out the $ to pay for stand alone medical card after 70 years old? I just got the premium table for AIA ECP+MCP ( AIA ECP+MCP Premium) and it costs >7k for medical coverage over 70 years old This post has been edited by jutamind: Sep 17 2009, 10:17 PM |
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jutamind
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Sep 21 2009, 06:04 PM
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To all AIA agents out there, i have a question to ask. Currently, I have AIA ILP with the medical plan Excelcare 150. I would like to upgrade to the current ECP+MCP200. Can i upgrade/convert within the same policy? Will there be any increment of premium upon conversion/upgrade? what is the procedure to upgrade/convert?
appreciate your feedback. thanks.
Added on September 22, 2009, 5:15 pmmy wife bought prudential ilp sometime ago and it has PMM3 medical rider in it. can any prudential agent share out the PMM3 coverage, including co-insurance. cant remember the coverage now and not having the policy doc with me at the moment as well.
This post has been edited by jutamind: Sep 22 2009, 05:15 PM
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jutamind
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Sep 23 2009, 08:40 AM
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my wife's agent has resigned and switched to another insurance company and NO agent has been reassigned to/contacted my wife until now. I have been asking Prudential for a replacement agent for probably a year plus now but so far no response, i.e. i contacted customer service and they push to the agency but then agency no response, then i go back to customer service and the cycle goes back again and again.
i guess that says a lot about prudential services, particularly of that agency.
as for my aia agent, i'm in touch with the agent now and working on the upgrade plan submission.
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jutamind
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Sep 23 2009, 09:05 PM
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QUOTE(p3nang @ Sep 23 2009, 08:57 PM) Well, for your information, ING is up to 80. Do anyone feel that they need coverage up to 100? since when ING covers the medical card up to 80? according to the IMPlus that i got from here, it's only up to 70. |
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jutamind
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Dec 29 2010, 07:01 PM
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does anyone has the cost of insurance table/chart for prudential crisis cover income rider & the similar rider from AIA (not sure what's the product name for AIA, could be disability income rider or something like that)?
appreciate it if you could share it out. thanks.
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jutamind
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Dec 29 2010, 07:42 PM
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QUOTE(MNet @ Dec 29 2010, 07:36 PM) its depend on ur age and sum assured that's why i'm looking for the cost of insurance chart/table |
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jutamind
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Dec 31 2010, 09:47 AM
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AIA agents out there, can u elaborate more about critical illness income rider or other disability income rider that you have? thanks.
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