@ryannate, so based on this feedback, my earlier inquiry referred, my assumption is correct. Then I find this per disability  at disadvantage as it forms both annual and lifetime limit for a particular "sickness". Conventional insurance company eg. those with 1mil annual limit will reset comes next year with unlimited lifetime limit while don't restrict limit per sickness basis.

Thanks. Are you an insurance agent?

I have a friend who is also a freelance CFP, he advises and serves his clients with no bias to any products.

He speaks and listens to his clients' financial needs and help them to map out the financial goals which includes planning for their insurance and investment.

When I am given a chance, I would also need a CFP to help me to provide me the best solutions that would suit my financial goals. My Insurance agent just know how to promote their products (ask me to buy another insurance plan as they realize top up of my current insurance plan will not help in getting them commission etc)  and did not at all provide/guide/map me a long term financial plan and goals.

CFP have their role to play, no doubt they achieve a certain standard in the industry to become CFP's.

This shouldn't discount on how insurance agents would provide any lesser benefit as compared to CFP's, they are just more specialized in that area as compared to CFP's who are jack of all trades and each CFP's are specialized in certain area, not all areas.

In terms of business, each individual or CFP are different,  if you buy their business ethic or the way they conduct, then they are your ideal person to deal business with, but if not, move to another agent.
As usual, generalize statement, where's your evidence ?

Aren't you also trying to stir doubt in people's mind and promote on your insurance services ? pot calling the kettle black.

like i mentioned, the quote i took from you only applies to ILP, but not standalone. correct?
because ILP/standalone, the charges will increase with age.

diff is that standalone, money paid is considered sunk cost. ilp does hv cash value.

Dear forumers

please be aware of companies such as Standard FA and MXM international which is behind Get Cover as they are nothing more than MLM for now.
wrong again. Getcover is working with fintech, BNM, StandardFA n MXM. Nothing wrong with MLM if can get a good price, good service nationwide and technology moving ahead. The world is moving ahead, if you don't follow then you be a dusty junk.
PIAM has issued a statement regarding of such companies operating such schemes
INSURANCE SCHEMES USING ONLINE AND MULTI-LEVEL MARKETING MODELS
by the way, I am astounded again with your statement which are blindly quoted without understanding the whole structure. StandardFA is a financial advisor holders issued by bnm, also sc and fimm license holder. There are some pioneer n big insurance participate in the app. Do you think if no licenses from this companies and complying with financial and insurance law, they will join the leading app?
1. The Association has received information on a recent insurance scheme and recruitment exercise using the online and multi-level marketing (MLM) models in the sale of insurance products of insurers, including the payment of commission and over-rider under the scheme. too bad is this is not under Piam control but BNM because is a financial thing. Don't be jealous or simply shooting the bush.

2. Based on the available documents on this scheme and marketing models used for the sale of insurance products of insurers, we wish to highlight the following for members’ attention :-

i) recruitment of persons who are not PIAM registered agents to promote and/or sell the insurance products of insurers is not allowed under Clause 4.1 of the ICAGIB.

Clause 4.1 provides that the parties to the ICAGIB agree and undertake that in dealings involving intermediaries, they shall not in any way authorize,deal or transact any general insurance business of whatsoever nature with any person or persons who is not an Agent or Broker.
ii) the payment of commission and/or over-rider whether directly or indirectly in excess of the maximum commission allowable is not permitted under JPI/GPI2 on “Guidelines to Control Operating Costs of General Insurance Business” issued by BNM.

iii) members are reminded that the sale of insurance products through the MLM-based distribution systems is prohibited, see the attached Members’ Circular No. 84 dated 20 Apr 2001.

3. We wish to inform members that BNM has been alerted on this insurance scheme and the marketing model used.

4. Members are urged not to condone such schemes that do not comply with the rules/ circular as highlighted in items 2 (i) to (iii) above. Should any member be aware or have come across any of such schemes, please do report to your Association for our necessary actions.
the whole structure never violate any of the clause u mentioned above, thank you for the assistance in promoting. All car owner can register and the app will send to you for your convenience to renew your car insurance. Of course many benefits including assist car owner to enjoy free car insurance. Oya is booming now and the response out of our prediction.
Please be careful when you get promotion from such companies. same old tricks by insurance agent, still using fear factor ..oboi

Take care. Any doubt you may liaise with PIAM again, it is not under Piam but served as bank or financial institution am under BNM.

Lol legal action for discussing about a company ? Then you might as well ask ur MXM company to go after all these post since 2008. Good luck

If you can't convince the public's doubt then you threaten to shut all discussion, who you think you are? The public deserve to know the truth. That's not the way to do business.

I can safely assume you're a MXM member soliciting business in here as well since you can fully defend them without a benefit of doubt.

Asics value for money