I've read someone asking this before but can't find it now...anyway, just would like to ask, which is more important:- the agent OR the insurance company?

I'm asking this because I prefer GE as it has been around for more than 100 yrs. However, the agent was so so only coz he didn't really tell me wat the pros and cons of the plans that he proposed to me. I am the one who had to ask him after I found out from other agents. Example (This, I found out from an AIA agent):- for ILP, the amount that I pay now may not be enough when I'm old and I may have to fork out more if my savings is not enough to cover my premium. This GE agent just tell me that I have the choice to decide when I wanna stop paying. If I stop paying, then the money will be able to cover for my premium. Although wat he said is true, I just feel the info that he gave is not ample and have to wait for me to ask...I know that as a customer I have the right to ask but as I'm new in insurance, sometimes, I don't know wat to ask.

On the other hand, this AIA agent explained to me the pros and cons coz he don't want me to have the shock of my life when I reach the age of 55 and find out that I still have to go on paying for my insurance and maybe at a higher cost. He really tried to understand my needs and tried to match it as close as possible. The problem is that, I'm still abit worried about the AIA and AIG issue thingy altho I've been told by the agent that there's nothing to worry about as AIA is a separate company from AIG.

Anyone from a neutral party who can help me out? I need to make up my mind by this week from who I should buy the insurance from

Thank you very much

Both products is around the same. Just that AIA's plan takes care of my needs now while GE's plan takes care of my needs in later life so they can't give me as much coverage as AIA for now. Eg:-

Hospitalization
GE - RM 720k lifetime limit (RM 90k limit annually)
AIA - RM 300k lifetime limit (RM 90k limit annually)

CI, Death & TPD
AIA - RM 100k
GE - CI - RM 100k, Death & TPD ard RM 50k-100k (sum assured to grow 5%/yr up to 20yrs)

Premium for both plans is RM 200/mth. And I feel the AIA plan suits me better NOW cz if in future I wanna increase my coverage, I can just top up. Of course, the catch is that I must be healthy.

Erm...the AIA agent just told me that it's an ILP. The plan covers lady cancers as well. For disability, it will pay RM 10k/yr after 2nd year till age 65.

Hie~ Thanks for your info

Hosp - Yea, he din tell me about that bit.
CI - sorry, my mistake, it's RM 50k
In top up, I mean top up the amount that I have to pay monthly, not to top up the coverage.

Thank you for the info.

The AIA agent tried to match the details that I want (lady cancer, RM 200/mth budget, disability benefits, hospital daily cash etc. ect.) while the GE agent proposed me a plan based on my RM200/mth budget and lady cancer. If I have to choose, I'll say that the AIA agent takes time to understand my needs more.

I agree with you on the GE outpatient cancer & kidney dialysis as charged thing. Yes, the ones provided by AIA is quite low compared to GE. It's a plus point for GE frm me

The AIA agent told me that there's a need to monitor the market so that switching of funds could be done and he'll follow up with me to give advise wether to switch the funds or not and also to revise back my plan in the future when needed. The GE agent told me nothing about this...

May I know what's the name of your plan? My budget is RM 200 only. Can't afford to spend more..

I also want a protection ONLY plan. However, I'm given the choice of the ILP or the traditional plan ONLY from AIA. The traditional plan does not include hospitalization. If I want hospitalization, I have to buy it separately and it's burned every year. So, I thought why not put it in ILP since I'll get to claim more when I'm alive. Other + points are such as CI is extended to 100 years, compared to 88 years in traditional plan and I'll get straight RM 100k for diagnosis of CI instead of RM 30k for traditional plan. The agents from GE and Prudential straight proposed me ILP.

Yes, there's waiver

I'll just put both plan that I've been proposed here

Both are ILP plans & premium is RM200/mth:-

AIA
CI (100 yrs) (*Waiver till 100 yrs, free hosp till 100 yrs, remaining coverage continues) - RM 100k + inv return
Upon disability (65 yrs) (*) - RM 100k + inv return, after 2nd yr till 65 yrs - RM 10k/yr (only limited by age)
Female cancer (60 yrs) (*) - additional RM 50k
Hosp (100 yrs) RM 300k lifetime, RM90k annual limit, RM 150 room, outpatient kidney dialysis-RM40k, Outpatient cancer treatment-RM12.5k, 10% co-insurance, max RM3k, RM 50 daily cash
Death-RM100k + inv return

GE
CI (99 yrs) (Waiver of premium till age 70 yrs) - RM 50k
Disability (65 yrs) (Waiver of premium till age 70 yrs) - RM 5k/yr, max 10 years
Female cancer (75 yrs) - I'll just summarize it cz there's alot of branches such as skin grafting, lumpectomy and breast reconstructive surgery on top of the normal femal cancers, max claim RM 32,500; there's a limit on the claim for each branch starting from as low as a maximum of RM2.5k for breast lumpectomy-unilateral
Hosp (80 yrs)-RM 720k lifetime. RM90k annual limit, RM150 room, outpatient cancer treatment & kidney dialysis-as charged up to RM 90k/yr, 10% co-insurance, max RM 500, RM 50 daily cash
Death (99 yrs) - RM 50k - 100k (sum assured to grow 5% every yr up to 20yrs)

Btw, I'm more comfortable with the AIA agent as he takes the time to understand my needs and really justify the plan that he proposed to me very well.

This post has been edited by rednails: Mar 12 2009, 12:41 AM

24, non-smoker, plan to get a car soon

Is this a traditional plan? I've asked my agent and he said there's only two types of plan in the market:- traditional and ILP. He insisted that no matter what name they give the plan, in the end, it'll be a traditional or ILP plan

Thanks
May I know till what age that plan cover?
Being a traditional plan, does it mean that it's protected from market changes? I mean, do I get more return/more protected from inflation?

Thanks again for the info. Yes, I can see some differences thr. For whole life insurance, I suppose hospitalization is not included?
One more thing, what's an endownment plan? What are the cons of an endownment plan?