Dec 16 2010, 06:09 PM
QUOTE(soulmad @ Dec 2 2006, 12:12 AM)
anyone getting insurance here?
is it right time to get now?
ur company does insured u
is that nessesary to start early?
as they say early u need pay cheaper
You should start early when you are young because the premium will be much more cheaper , the other thing you need to get an insurance when you are healthy because if you diagnosed with certain illnesses then you wont getting a medical card for the rest of your life unless you get it through group insurance coverage. is it right time to get now?
ur company does insured u
is that nessesary to start early?
as they say early u need pay cheaper
Even though you have coverage from you company you still can get insurance coverage at affordable price since company like prudential offers 3k deductible plan and 10k deductible plan that can reduce your premium a lot.
Please call me or sms me if you want to know more
Added on December 16, 2010, 6:23 pm
QUOTE(Civil @ Dec 2 2006, 12:11 PM)
Example :
Person A bought a medical policy with Company B coverage of RM50K
He has been paying his policy for 4 years now.
On his 4th year he claimed for his medical for 25K.
On 5th year, he wanted to renew his policy, but the company rejected because of his health etc. Company has right to reject because normally medical insurance are based on 1 year contract basis. Thats mean after a year, you have to renew it. Its up to company to accept your renewal or not.
If the policy stated its a guaranteed renewal policy, then u dont have to worries. U claimed so many times also the insurance company MUST renew your policy no matter what.
Normally, financial consultant would advise you to save 5-10% from your income on insurance and investment.
IF you want to get a good medical you should consider medical with no " portfolio withdrawal" condition .Person A bought a medical policy with Company B coverage of RM50K
He has been paying his policy for 4 years now.
On his 4th year he claimed for his medical for 25K.
On 5th year, he wanted to renew his policy, but the company rejected because of his health etc. Company has right to reject because normally medical insurance are based on 1 year contract basis. Thats mean after a year, you have to renew it. Its up to company to accept your renewal or not.
If the policy stated its a guaranteed renewal policy, then u dont have to worries. U claimed so many times also the insurance company MUST renew your policy no matter what.
Normally, financial consultant would advise you to save 5-10% from your income on insurance and investment.
"The Company reserves the right to cancel the portfolio as a whole if it decides to discontinue underwriting this insurance product.
Cancellation of the portfolio as a whole shall be given by written notice to the Policyholder and the Company will run off all policies to expiry of the period of cover within the portfolio."
You dont want suddenly they cancel your medical because they dont want to continue the product.
However i would assure you that prudential's medical card has no this particular clause. If you have medical card from prudential you will definitely have it as long you pay the premium or your limit or age is still not exhausted.
This post has been edited by redruby: Dec 16 2010, 06:23 PM
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