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

Bonus come from insurance company used your premium to invest/making business that generating profit, that's why generally it is not guaranteed and amount/rate is fluctuating from time to time.

So it origins from your premium/accumulated cash value.

Investment linked policy wouldn't have "policy loan", furthermore 10 years ago, Investment linked policy isn't as popular as nowadays. I strongly believe it's Whole life Participating Traditional plan or Endowment plan.

What is a participating policy?

Participating policies are insurance policies which provide both guaranteed and non-guaranteed benefits. The sum assured is a guaranteed benefit and is paid when the policy matures or upon the death of the insured. Participating policyholders are allowed to participate or share in the profits of the insurance company’s participating fund. This is paid in the form of bonuses or cash dividends. Bonuses and cash dividends are non-guaranteed benefits.

Premiums of participating policies are pooled together in a designated participating fund. The fund invests in assets such as government and corporate bonds, equities, property and cash. The proportions of the assets may change over time, depending on the investment strategy for the fund.

Participating policies usually take time to build up cash values. If a policy is surrendered early, a surrender value will usually be paid only if the policy has been in force for at least three years. The amount paid will be adjusted to deduct certain charges.

Non-participating policies pay just the sum assured when the policy matures or upon the death of the insured. The policyholder does not participate or share in the profits of the insurance company’s participating fund and is not entitled to any non-guaranteed benefits.

You can read more directly from here: http://www.moneysense.gov.sg/Understanding...g-Policies.aspx

I think to further understand what you have, it'll be best to do the policy review and then from there make a decision

Ok,guys.
Im now understand and will do more research by myself...
Thanx bruh...

Hi,so i actually have withdraw,rm4,000,and left around 3,000 right?how much will i get till i 55?now im 23.

You will need the insurance company to recalculate that for you. Just call them up on the hotline

Dear,

If you upgrade to a new medical plan from the same insurance company, there is a waiting period. You are required to sign ROMP (Replace of medical policy) form, just in case within this waiting period if anything happens to you, you will fall back to the old medical card. Before the new medical comes into action you are still be covered by your current medical card.

It is never a waste as your old policy has covered you for 10 years.

Dear,

For medical claim you only receive one receipt therefore you can only claim from one insurance company. No insurance company allows photocopy receipt for claim.


Life insurance is generally all risk insurance therefore if you have two sets of life insurance policy, you are able to claim both. What insurance do you have from your "company one"? This you need to find out.

Hi bro,

How about if I increase just room and board, from 150 to 200, will that subjected to waiting period?

The waiting period will be on the upgraded limit, room & board. Meaning you still have to wait 4 months for the upgrade. In between any claim is required, it will still fall on the old medical card limit.

Thank you bro for the clarification.

Dear,

Within the waiting period, you'll still be entitle with the current RM 150 room. After the waiting period, you'll be entitle the new RM 200 room.

Hi guys, im aged 30 with non-smoker

Currently has bought almost a year of the GE RM150 R&B medical card, 120k death, 100 CI.

Now I am in dilemma of upgrading the existing RM150 to RM200 or get the AIA one with more tempting benefits but lesser cash value.

Need a third pair of eyes on advice on this issue.

Should I continue another with existing GE, and buy the AIA for 1 year while waiting for the 1 year no-claim period?

This post has been edited by garrick86: Mar 16 2016, 10:51 AM

Cash value is just a projection, some companies will give a higher projection based on their past historical data of funds return but this doesn't reflect the future performance down the road.

That's the risk of ILP policy, if you're buying a policy, get the 1 that maximizes all the protection, cash value is really secondary as you won't know exactly what will happen 30 laters. You might already get certain increment and improvement in your lifestyle to upgrade later on again.

Most important is that the agent that services is good and prompt.

Both are equally good agents with good plans. Too bad Im struggling with budget to get one of them only, else i would get both.

Anyone else can verify that these 2 are the best that i could get within these tiny budget? or can top up slightly below 4k for other riders benefits?

This post has been edited by garrick86: Mar 16 2016, 11:00 AM

if they're equally good, why would you want to jump to AIA in the first place ?

Just because of the benefit ?

Perhaps you can upgrade from your existing GE policy than doing an entire transfer

Product benefit changes every time, it's your personal preference.

Considered about it too, GE if upgrade the R&B increase it is 10% for every 3 years no claim, max 100% and almost same price.

Calculated and it is almost like 30 years to reach 100% while AIA is like 10 years no claim to 100%

like I said, it's a personal preference, I would sound biased to tell you AIA is better since I represent them.

Dear,

Can you drive your car out on the road without insurance? Answer is you can but it would be a big risk getting caught and big risk not being insured. If you are thinking about changing from G insurance to A insurance there wont be any no claim period so long you do not cancel or lapse your current G insurance policy. During this waiting period of waiting, if there is anything that happen to you, you will fall back to the existing G co.

There is no free lunch in this world, you may assume that there are more benefits in some plans but with lesser cash value. In true fact all Insurance co are govern by Bank Negara so there wont be an insurance co that sells a very very high benefit policy with very very cheap premium.

Try asking your current G co to quote you additional same benefit as A co if you opt to maintain the existing policy. This is your best bet...