There is no monetary benefit for the agent whether you paid monthly or yearly, however your policy will gain slightly more on the generating cash value for the policy by paying yearly.

Because investment policy is more on purchasing unit with ur money, if you opt to pay annually, it'll will be used to buy units in the fund market, should the unit be purchased on a lower side in the beginning and by end of every year, you'll accumulate slightly more cash value than paying monthly. However the difference is not a lot probably a variance of 5% more or less between paying monthly or yearly.

However your agent will not earn more money just because you paid one year upfront as you'll still end up paying a year anyways either now or in 12 months time.

I will need to look into ur case overall before I can give further insight on this.

ic, to answer you simply, the new agent won't earn any commission to service you if he ask you to top up, as your original agent who is suppose to service you will earn the commission instead for not doing anything for you.

Well I can't judge on why the agent did so. If you prefer another AIA agent to advise for 2nd opinion instead of your original agent, you may do so.

I will need to analyse your overall detail as this is just part of the story. It will be unfair for you that my opinion is just on this info which might mislead you to make a decision.

I would say Juihwei had already explain it very throughly. So all the best to your trip to the branch.

When both you and your health insurance company pay part of your medical expense, it’s called cost sharing. Deductibles, coinsurance and copays are all examples. Understanding how they work will help you know when and how much you have to pay for care.

Deductible

A deductible is the amount you pay for health care services before your health insurance begins to pay.
Let's say your plan's deductible is $1,500. That means for most services, you'll pay 100 percent of your medical and pharmacy bills until the amount you pay reaches $1,500. After that, you share the cost with your plan by paying coinsurance and copays.

Coinsurance

Coinsurance is your share of the costs of a health care service. It's usually figured as a percentage of the amount we allow to be charged for services. You start paying coinsurance after you've paid your plan's deductible.
Here's how it works. Lisa has allergies, so she sees a doctor regularly. She just paid her $1,500 deductible. Now her plan will cover 70 percent of the cost of her allergy shots. Lisa pays the other 30 percent; that's her coinsurance. If her treatment costs $150, her plan will pay $105 and she'll pay $45.

When choosing a plan, think about how much you use your insurance and how much protection you want against unpredictable expenses. Then look at the plan's deductible, coinsurance and copays and find what works best for you. Here are a few things to consider.

Deductible: A plan with a high deductible will have cheaper monthly payments. But you'll pay a lot upfront when you need care. You can also look for plans that cover some services before you pay your deductible.
Coinsurance: Typically, the lower a plan's monthly payments, the more you'll pay in coinsurance.

This post has been edited by lifebalance: Dec 6 2016, 11:15 PM

with standalone card it's doable, nowadays cover up to 1.65 mil per year edi. But still depends on your age, gender, whether you smoke and occupation.

If he's the new servicing agent then should be okay since he'll get his commission from the upgrade.

Weird on what he's trying to do

You mean you can't recognise how your original agent look like and his name is different in the policy book? Then obviously it's the new agent

Anyways you have a choice to choose another servicing agent if you feel that the agent is unreliable to advise you professionally

Just to double clarify what's AIA platinum network hospital



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what's that ? which insurance company is this from ?

Any product name ?

any online brochure ?

well best to get someone from that company to answer you.

Yeap correct

However there are some plans where you can straight away claim without having to pay first and reimburse later which AIA plan 500 can offer this

For your case, since you've all planned out for your kids, you may opt for standalone medical card for your kids.

Reason is simple, you're working with your company and your company will cover your family as long as you are working with them.

However, you'll lose the coverage in the event of
1. Laid off
2. Retrenchment
3. Resignation
4. Due to critical illness, you're no longer able to continue working anymore

Also, having a personal medical card at all time is good as you won't be insurable anymore to any company in the event you have gotten some critical illness while being under the company coverage. Your personal medical card will stick to you for life if you've gotten this way earlier before any pre-existing illness.

if your kids have grown up with no health problem / illness all the way to 20 - 30 years old, then it doesn't make sense to buy an insurance now, don't you agree?

However, can you guarantee they won't have any health problem / illness in between these years like cancer, diabetes, high blood pressure, other illnesses that will not disqualify them of any eligibility to buy any insurance in the near future?

It's like Buying a Car Insurance, can you guarantee a car can't get any accident in 20 years ? why buy car insurance every year then to waste money (aside that it's made compulsory by government), right ? I know it's not the same illustration, but try to relate with an object that is subject to the same element of random event such as accidents, self incurred accidents.

This post has been edited by lifebalance: Dec 13 2016, 04:16 PM

Which is why you're not reading what I'm saying at first to you, get a standalone medical card which cost less than 100 a month for a children. That way if you want to calculate your dollar and cents, you're paying about 24k for 20 years.

However, don't be penny-wise and pound foolish.

It seems to me that you've already made up your mind at the beginning on not to spend that money at all on your children's health insurance, there isn't any point for me to try to convince you when you're not being receptive towards advise.

Let me know when you're willing to exchange your RM1,200 per year premium for a RM1,000,000 per year healthcare plan. If you're willing to invest RM1000 per month on yourself, I'm sure RM100 per month for your children healthcare is not going to make you bankrupt. These are your kids health we're talking about. Are they not worthy to get a simple coverage for their future?

This post has been edited by lifebalance: Dec 13 2016, 05:54 PM

dun think it works that way, most insurance company have already extended to cover above 1 mil +

How much is your employer covering your family at the moment? RM100,000 per annum? Unlimited ?

It's not a matter of whether your employer is covering X amount, it's a matter of can they(the kids) be continued to be covered if you're no longer working in that company or switching your jobs in between while they're growing up

The armor from the company is temporary, what you're getting is the armor that is permanent on your kid. What your employer gives is a benefit to you as an employee. Nothing more.

You might say the coverage is overkill, so would you have your Wealth near death even if your child is near death from all the treatment when they're requiring you to pay more than what is covered by your company ?

We just need that 1% chance to hit someone critically ill/death and they'll be financially burdened to try to resolve that issue unprepared.

My main question to you now is, Do you have the peace of mind with your current plan for your family? If you do, then don't think about this anymore and move on.