Seems like Agent 1 proposed ILP with medical

Wheres Agent 2 proposed ILP with medical card + term life.

What are you looking for exactly ?

I wanted the most basic medical and life insurance. I have a budget <200 per annum.

I'm not too sure if the proposals they presented is too much for me for my age now or I need to actually plan to prepare for future (their selling point )


But if I want to upgrade, I can do in future right?

This post has been edited by bettachick: Mar 8 2016, 07:24 PM

Will need to see your total commitments and the expenses you are paying every month. On top of that whether do you have any responsibility towards your family in the event you're no longer here. Feel free to pm me some of these details so that I can see what can work out for you.

Dear,

The above is not apple to apple comparison therefore its hard to choose. You will need to put both quotations side by side and translate all the "insurance language" into English language. At such a young age for sure you still got chance to upgrade in the future if you are married / with children /etc.

There are plenty of benefits besides just paying …Free consultation is just a PM away …

My insurance covers physiotherapy.

I am having knee pain now but would like to have a x-ray or mri checkup.

What should i do so that i claim it with y insurance card

When were you hospitalized ?
How long did your physiotherapy benefit cover up to ?

If you want to claim insurance for this x ray or mri. Make sure it's been recommended by the doctor and subsequently told you that x ray or mri is required for further diagnosis. If they require you to be hospitalized then you may claim from your medical card for all these plus any surgery. Otherwise if the doctor said you're fine, just some minor injury and you can leave without staying in the hospital. Then you can't claim under your medical card.

Dear,

A quick and easy solution to your problem. Just admit into your panel hospital and make sure you spend more than 8 hours in the hospital to allow all the above scans to be made.

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.

Insurance company are tricky but yet all the terms stated inside the policy and none of them are hidden.
Insurance company hired agents to sell are assuming that they had understood what is stated and delivered to the customer
Somehow this world is quite realistic, everybody work hard for money and I do realized that a lot of agents in Malaysia are using "All you can claim" method to earn cases

I had plenty of so called "cheated" scenario that I can share with you all as below
Notes : I named a person called Mark

1) Mark bought a CI protection policy for RM500,000
- he found out he got nose cancer last stage
- he die after 2 weeks from the time he get diagnosed with cancer
- he can't claim the insurance , the family get rage and felt cheated
Reason : The policy he bought covered and pay the claim only after 30 days from the date he diagnosed with cancer
Workaround : Agent did highlight this important terms in the policy , the family accept it but nothing they can do with it anyway
Lesson learn : Mark concerned about his health , that's why he bought the policy but he also concern about the money he pay so he prefer to buy cheaper CI protection where it comes with terms and confidently think that he can survive that 30 days and seems like GOD not granting his wish

2) Mark bought a Life + Accident protection policy
- he had an accident causing him losing 1 leg
- he considered OKU as he no longer able to walk anymore
- Insurance company only pay certain % from the total amount of protection he bought and he is so unhappy and felt cheated
Reason : Only TPD and death will pay full from the total amount he bought
Workaround : Irresponsible agent do not explain to him regarding the terms of TPD , he bought it because he thinks that everything will be covered promptly
Lesson learn : Rather than putting our fate to the agent , we as buyer should also learn and understand some basic insurance knowledge. We only got one chance to live, don't risk it and put all the chips on an agent's hand.

3) Mark bought few policy but due to oversea travelling, he hardly to pay premium on time
- he got few cases lapsed due to delay payment
- he revived the cases after half year back from oversea
- After few weeks , he got denggi and being admitted
- He can't claim his insurance because he is not passing the waiting period , he hate insurance company and the agent forever
Reason : There are waiting period when the policy revival take place. The cases already lapsed for 6 months and anything could happen to his health in this 6 months
Workaround : Irresponsible agent only helping him to revive but not explaining to him regarding waiting period
Lesson learn : Having such an agent is considered as bad luck.

4) Mark have a good buddy work as insurance agent, he allocate 1000/month for his friend to help him on insurance thingy
- Mark request his buddy to customize his insurance to cover what should be cover
- Mark admitted to hospital and need to do surgery, found out the medical card he had isn't sufficient to cover the bill , he wonder why
- After he check only found out that the 1000/month he pay, only 10% allocated into medical card portion
- End up he have to dig own money to pay for the remaining bill.

What I can conclude here is that it is not easy to have a good agent, trust is important but not over-trust. Always understand what you buy as well as the strong/weak side of the policy
I am also an agent but I only serve people I know and someone that can trust me because I don't need commission to support my living. Being my client isn't easy because I always tell my client things that usual agent won't tell but they still buy because of my honesty.
I do hate insurance before but I know insurance is important, that's why I learn it and let the hate goes to myself.

I know supersound are very anti-insurance but dude, if you really don't believe the people in this field, why not you apply license and buy it yourself. Its not hard to become an agent. Its only hard to become GOOD agent

Both of the agents I will avoid, just get medical with life insurance, investment link will make the policy devalue faster.
BTW, with current inflation rate, after few years your current policy won't be enough to protect you. Suggest that maintaining a healthy lifestyle and start donate blood 4 times a year. In case when sheet happens, GH's door will be opened for you. Cost will be cheap.

Just to clarify one thing, just in case, some newbie misunderstand above statement of "quote lower".

Insurance is not like selling something in the market which you can bargain.
It is about different plan for different premium or the insurance being tailored differently to individual needs, hence a different amount of premium can be achieved.

Agent cannot simply "quote" a price at their wish one.
They have no say on the insurance premium amount or make their own offer on the premium by "quoting lower".

My intention is just to get a medical card to cover my bill expenses and also life insurance just in case , I'm gone and for my fam. Not so fond of investment thingy because im good in saving.

I didn't know donate blood have this privilege? They got record ah?

Nowadays insurance comes with some investment feature to make use of the money you paid to the insurance company for investment which will generate cash value to make your overall ownership in the long term cheaper compared to term insurance.

Sure what are you looking for ?

Yup, once your donation > 20 times, you will stay in 2nd class beds.
Investment linked is to ensure you waste more for something you don't need, usually the return will be worst than your savings account.
As said, a policy will devalue once every 6 months, so I don't see any reason to waste money on buying something that does not really protects you.

My insurance agent also recommends an investment linked medical card coz she says in the long term it's cheaper than pure medical card. How does a policy devalue every 6 months?

Trust me, for the past records, what she said are bullsh*t. Medical fees are increasing once every 6 months in private hospitals, or they increasing it once a year. Average is about 5-15%, not to mention medical policies has no cash value, that's why every few years, insurance companies sure comes out with new policies and you need to "upgrade" it.
That's why spend more time in those old school coffee shops you will listen to their horror stories on how they got cheated by insurance agents.

Thanks for the info +1

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

Insurance never cheat, the policy already stated the scope of its coverage and condition.

If incident happens outside of coverage, then insurance won't pay the compensation or reimbursement.
If the incident happens within the coverage, then insurance will always honour their obligation according to the policy.

Fundamentally, insurance never cheat. If not it won't be a multi-billions businesses already and keep on growing.
In fact, insurance doesn't need to cheat or deny legitimate claim to stay in business.

If claim rise, they just raise the premium to cover the claims.
Insurance basic is very simply, pool in money, and pay to those unfortunate one.
Claim money come from policy owner premium.

So it is wrong to say "insurance cheat", it never.
While if agent or policy owner explain wrongly or misinterpret, the policy owner feel "cheated" then it is another scope to look at.

From the beginning I never said insurance cheat, but the agents do cheat