"(5) A policy owner shall not deal with a policy to which subparagraph (1) applies by revoking a nomination or adding a
nominee other than his spouse, child or parent under the policy, by varying or surrendering the policy, or by assigning or pledging the policy as security, without the written consent of the trustee."

For policy that has not been assigned with a Trustee, the auto trust applies.

But looks like Starry still needed his nominee's consent?
Starry can you confirm? Trustee or Nominee on your end?

haha...nominee is not nominee and trustee is not trustee?
I can see clearly that they are both in different fields in the system...i mean they r both very different people in my policy

Agent 1 is Great Eastern... ask your agent to quote at RM150 or 175. see do-able or not... sometimes they can quote lower. just tell them you cannot afford, see what is the figure they give you after that. SAME benefit but lower premium.

Agent 2... You need give me product name else can't help. Or more product features. Basically right... i want to point to you is, there's not such thing as so called medical investment linked thing in the market. only life + investment, then add on medical benefit. your agent probably not so good at explaining or you misunderstood?

seeing that both of the agents do offer what we called as investment-linked product, yes, you can upgrade your medical plan in future.

Certain things we can follow trend, like buying electronic gadgets, but if trend of getting cheated, is better don't follow the trend.

Hi guys,i hope someone can answer my question,
I want to withdraw some money from my Life insurance,to pay my study fee,so i go to their branch to ask if i can withdraw some,and he give me 3 option:
1)Loan some money rm1,xxx
2)Bonus rm4,xxx
3)close account rm7,xxx

I thought to choose close account,because,i can more.

Not much though,so i ask my mon opinion,because this,insurance from my mom,she say,dont close my account,because it will increase to RM150,000 ,when i 55 years,
Is it true?

Hi InabaKai
When you keep your insurance policy until you're 55 years old, It's projected to gain as much as RM150k. But might be higher or lower than the amount as it's just a projection.

You will need to decide whether this RM7000 is really what you urgently need at the moment. But don't do it out of compulsion for a short term goal. You need to figure out whether are there any other ways other than taking out this insurance money.

Ok,Im understand.
1 last question,where did the bonus take out from?

Hi, i have a question on the investment link Insurance from AIA.

Previously in 2012, my father has bough me an investment link insurance and have been paying until today.

But last year the agent approach me again to propose to me another policy also investment link for better coverage and so on. after i take a look on the policy i agree to sign up for it.

So now i have 2 investment link policy in  AIA. but question is that i want only one investment link with 2 coverage combine so i no need to pay so much premium as i dont think so the investment link is so important that i need two. the Agent said it can be done but it needs one year to combine since the new policy can be void if within a year it is best interest for me  to pay for 2 policy for first year.

Recently i was thinking it is really waste of money to keep on paying 2 policy with 2 investment link and i am angry why the agent did not propose to me an upgrade policy instead asking me buy a new policy and later told me that it can combined but require one year time for the best interest of me.

i felt a bit cheated and really unhappy about it. anyone can explain to me is this the way the insurance go? because until certain point of time i am thinking of cancel the 2 policies with this agent and bought a new policy entirely new. and take out the money in investment link that my father sign up in 2012. is that doable? need some serious advice coz i am been  paying 2 policies currently and for god know why i should wait for one year.

Basically it will last another 8 to 10 years as you're still contributing 3120 per year.

Once your policy has no more cash value. Then you'll have to top up nett Rm7.2k plus to pay off the cost of insurance. Your yearly 3120 premium will not increase. Just that you have to top up whatever extra difference to be paid for the increasing cost of insurance.

Ya lo. Account no money already. He have to pay 3120 plus 4k plus to offset that cost of insurance when he's 70s

My parent bought me a Whole Life, with Sum Assured (death benefit) of RM 50k. Been consistently paying the premium RM 550 per year for more than 25years. Recently I received the statement and calculating the yield of this plan. Assuming I survive to until policy year 60, the plan only give back cash value of RM116k. At this moment, the cash value is slightly above to my total premium paid.
Seek for your advice:
- Is it Whole Life plan in the market, features are high death benefit, low premium, low cash value?
- I am paying this plan for my next generation?
- Worth keeping this plan? Or I should look for another endowment / saving plan?

I beg to differ though. Not necessary you need to have family dependent then only you get an insurance. Insurance covers a wide spectrum other than just death such as critical illness, total permanent disability and personal accident. Even if you don't die, you suffer a great financial lost should you have any one of these 3 happening in your life. The possibility of loss of income or even financial loss due to disease or disability will render you unable to continue life without enough financing. Thus the insurance payout is there to make sure the next few years it could ease their new lifestyle as they have to adjust to it.

Just to share my thoughts eh.

If you just pay for medical card alone... I'd like to think it's like paying for car insurance. You pay for so long and dont get anything back unless there's a claim.

For me, a better choice would be an all-in-one plan(ILP) where I get protection, hospitalization and also returns in the future. 

It's a term coverage whereby the premium increases as you age. No investment value. If want long term lower cost ownership then get a investment link plan.

makes total sense. thanks for the writeup!

we won't have a crystal ball to foretell what will happen with the future, if the customer would like to have a "certain" future, then traditional policies would suit them better as the returns are guaranteed albeit paying a higher premium.

Bottom line is, you can't have the best of both world, with investment link, you can manage your risk, you can select funds that are generally secure and safe such as fixed income funds, bonds, etc. It wouldn't go towards the extreme unless the country goes bankrupt and Malaysia ends up like Zimbabwe. You'll probably be able to foretell that future by reading the news and then cash out to another country.

As what you've mentioned, it's depending on one's preference.

Life inuance can claim from multiple policies

For the medical card you can claim from 2 card

E.g you got a company card and a personal card

Medical card are suggested for severe sickness...I would think main cater for cancer treatment as 2016 in can easily go up to 500k.

When choosing a medical plan, do not think of how much you can pay monthly but what's the most expensive sickness cost.

Every 4 to 5 years review your medical protection, for standalone is easy and for ILP you need to keep add rider.

Recently chatted with parents on their medical card and stuffs since they are nearing retirement, found out that their current one (from before 2010-ish) has an annual limit of about 50k/year and lifetime limit of 150k until 70 years old.

Agent proposed a plan that goes until 99 years old from the lion company and seems like the premium is quite high close to 5k per annum even for room & board rate of RM150. Wanted to ask bosses here for some opinion:
- Initial base plan was Smart Medic Extra with annual limit 90k and lifetime limit 900k, but was proposed to put add-on to boost annual limit 900k and no lifetime limit.
- But the add-on got deductible 90k caveat one. Is this even a wise move considering that they will retire in a few years time and wont be covered by company anymore? I think I will kaput if gotta pay 90K myself first.
- What if i don't want to take the deductible add on leh? In this day and age what is considered a good annual limit and lifetime limit in the market?
- I saw some people recommend a relook into medical card every 5 years --> what is a good strategy for the senior citizen ah? Cause if keep changing medical card every 5 years (and each time trying to purchase what seemed like ok at that point in time), might premium would have been higher and higher right. And the old policy macam a bit wasted paying for this add-on that add-on only ti change the medical card every x years.