You seemed to be a HUGE fossil fan

Hahaha in fact my friend, a pharmacist in a Sabah hospital told me the exact same thing!

Nowadays, pressing the share button in Facebook is too easy and little or non verification has been made before the information is shared to others.

Avangelice, rather than doing that perhaps you should advise your friends and educate them on what life insurance is and how the mechanics of an investment linked plan works so they can make their own decision when it comes to buying a life insurance. A life insurance plan is a very personal one as everybody needs are unique.

If you go around telling people to get basic coverage and be prudent in their saving, not saying that you are wrong but there is always a chance that someone might get hit by a major injury or illness and require a high coverage or income replacement. When that happens, and knowing that person will be facing financial difficulties due to your advise of only getting a basic health coverage and be prudent with their savings, will you then assist them financially?

It is easy to go around disregarding the importance of a complete life and health insurance plan, especially if you've been wronged by an agent but please take some time to think about the question above.

Best,
Jiansheng/Holocene

This is borderline misspelling and taking opportunity on the tern "investment linked" to mislead the uneducated public.

Next time, write down their agent code and file a complaint. I noticed that most of the time, these so called agents don't even realised what they are doing is wrong. Pity those that sign up with them.

Problem is some agents like to call themselves financial planner or adviser. So what do you expect when they do that? I rather call it as it is, I am an agent. Though we sort of "plan" or "advise" clients on mitigating life's risk financially, in no way are we a financial planner. Unless you have a CFP or other actual financial planning certificate and provide a holistic financial planning, why are they even calling themselves financial planners? 😂

Anyways, from your replies I can tell you are a nice guy, too nice maybe. In every profession there is bound to be a rotten apple, next time just pick them clearly. Learn from your experience. If you really have ano unsatisfactory service you should also make a complaint or file a report, to save others from experiencing the same thing.

This post has been edited by Holocene: Oct 27 2016, 07:50 AM

You need to check with your servicing agent. If it is anot investment linked policy, without going in to the details, you should be able to.

Ok, everybody take a breath and relax ya.

First we need to be able to establish that the purpose for saving and investment is very very different. Saving is just that, we save to ensure that at a certain point in the future, we will have x amount of money. Through the process, you'll likely to receive a certain % of interest in return however it won't be making you rich. Investment on the other hand is all about wealth creation.

As shared by our moderator cherroy, a saving plan can serve multiple purpose, one particular popular one is wealth distribution. From the grapevine, I've heard a particular agent managed to sign a RM300k annual premium on saving plan from an individual and believe it or not, that is still not the highest in Malaysia.

If you are using an investment vehicle returns to compare against a saving plan's, there is no chance in our lifetime that a saving plan will beat it.

WHEN you look beyond the "returns" it still has it's uses, believe me

On a different note, have you all heard? Allianz is eyeing a possible takeover of HSBC Amanah Takaful

http://www.thestar.com.my/business/busines...amanah-takaful/

Wow thanks for this info dasecret! Definitely a useful website. Your understanding of what investments linked plan is suppose to be used for is correct!

Hi sekelord,

Rather than just comparing the premium price, you also need to compare the benefits. Which plan fulfills your requirement.

Would you mind sharing the name of the plans or better yet, the benefits each plan provides?

Best,
Jiansheng/Holocene

If amount of premium is not an issue, perhaps you can think about going for investment link. From my own experience, investment linked medical card usually provides better coverage though it is more expensive for someone with an advance age, at least that is true for the Company that I represent but then again it all boils down to which plan better serves your needs or your mother needs in this case.

Whether or not the premium will be fixed for the next 10 years depends on the performance of the fund and if the allocation of the premium is done efficiently.

Best,
Jiansheng/Holocene

On top of searching for the best plan for yourself, it is also important that you find the right agent to service you.

You can apply and wait for the offer letter then make your decision. The decision to cover or not depends on the underwriting department. You never know.

Repost.

This post has been edited by Holocene: Nov 5 2016, 10:12 AM

There is no hard and fast rule how many months your credit card should be charged. Request for monthly payment then, usually the company will charge 2 months premium in the first payment.

You need to declare your past medical history during the application. Wait for the deferment letter and see what needs to be done or if your existing report can be used.

If at the end, you are not satisfied with the terms provided by the insurance company you can choose to decline the offer. You will then receive your refund minus some expenses (medical check up fee and etc) if incurred.

Just let your agent know that you would like to do monthly payment instead of half yearly. You won't be asking for a refund, just that you reject the terms if you don't like them.

Whether the insurance company covers you or not depends a lot on their findings and risk assessment, in other words the underwriters discretion.

My clients are lucky in a sense because we actually have a former underwriter in our agency, she assist the agents by being the contact person to our insurance company's underwriting department. This ensures our clients' deferments, if any are well managed. I've heard horror stories where medical card application got delayed simply because the agent wasn't very sure what to do, and didn't seek any clarification. One example is that the deferment letter was only passed to my client 4 months later which by then the application got rejected due to no updates.

My advise is that you already understand the increasing cost of medical expenses and would like to acquire another medical card to manage the risk. Apply for one, regardless if they exclude your prior medical condition. After all, you are managing life's risk as a whole.

Best,
Jiansheng/Holocene

So long your claim is covered by your insurance as per your policy this is nothing to worry about. As we are not privy to those information no further comments can be given.

Time to put your agent to work.

A,

I'd advise that you ensure your new medical card/insurance has exceed the waiting period prior surrendering your existing one. Insurance products are tools for risk management but without proper care taken, the transition period between your old insurance and the new one could mean a significant risk to yourself. Remember, do not be penny wise, pound foolish.

Best,
Jiansheng/Holocene

A,

Ah that's good to know 😊👍🏽

Best,
Jiansheng/Holocene

I sad Allianz not even mentioned 😭

For Allianz there is no such exclusion due to being a foreigner however during application for the medical card you have to ensure all proper documentation are provided, ie marriage certificate, residential status and etc..

Best,
Jiansheng/Holocene