Just to find out how much you are insured and whether you're trying to launder money with insurance. They can check with Liam actually but depends on how truthful are you

Yeah, the new proposal form would ask my existing insurance policies (which company, coverage, etc.)

On the other hand, it's important for your agent to know also because they don't want to duplicate what you already have. This understanding would help them identify your needs better and find a very much suitable plan.

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.


As others said, if you want to take up a new plan, it depends how severe your health issues now. But you can always submit a proposal first and hope the underwriters wont come out with any ME requirements or whatnot


If your agent suggest so, take it as an upgrade and increase to your sum assured. Prudential has got this new hospitalization card that has an open limit of RM1,000,000. For this card, co-insurance amount is like min RM300 max RM1000. Dont take this co-insurance as a bad thing because if you calculate long term, you actually save so much more because your insurance premium is lower.

Hope this helps.

In ILP, the so called "return" may be used to burn the future rise in premium of cost of insurance.
Somemore in ILP, the investment portion is not capital guaranteed, it can result in a loss as well, instead of "return".

ILP = insurance + UT.

Standalone medical = insurance without UT.

The main reason is for the new agent to look for points to attack, so that you will cancel the current policy and buy new policy.
And for what reason the new agent knows your old policy details, you can bring both of them to court under Data protection Act. No one shall disclose your personal details without your approval.
Like GE's policy are following market while Prudential are following the policy you signed(but still subjected to 1 clause which will overrule all the claimable clauses : they have the right to deny any claim if they feel it is fraudulent)
If the Prudential agents knows that you are having GE policy, this will be the main excuse they will use.

This post has been edited by supersound: Apr 8 2016, 12:21 PM

Thanks for the clarification. Not aware it is in proposal form. Just wondering why....

No worries if this is your first time applying insurance. It's a standard guideline set by the industry.

No worries.


True also. But better than no returns at all right

Have to agree too. That's one way they wanna see what you dont have and intro you to it.

Have to prove lehh, not feel fraud then can decline.

Plus, talking about clauses.
AIA and GE has got the Withdrawal Portfolio Condition clause.
Anytime they FEEL right to stop their coverage, they can. 30days notice.
This clause is scary as hell.

This post has been edited by Ayrehn: Apr 8 2016, 02:14 PM

All insurance companies do have this clause to protect their interest.
The feel is like if they not willing to pay you, they will look for excuses to deny, simple as that.
That's the reason why I cancel all the policies 6 years back, because I buy insurance not to have protection, but is to protect their luxury livings
All the 3 agents that cheated me 1 is driving a latest S class, another only can see her few times in a year and whenever call her phone, it will be international ringing tone. The last agent are the most "pariah" since he only drives a Persona, but already own 6 3 storey shoplots in PJ, Shah Alam, Klang area, not to mention bungalows and terrace in Iskandar and KV area that he refuse to disclose

This post has been edited by supersound: Apr 8 2016, 02:26 PM

No, it's not necessarily better.
You pay for the UT, and what is the IRR of the investment linked UT compared to if you can buy any UT that is not provided by insurance company?

I'm a prudential client; and I can tell you the Inv linked funds performance is no where near what Eastspring investment (pure UT arm) funds are doing

If I can turn back time and choose my insurance plan again, I would check the linked fund returns on top of considering the coverage and benefits

need some advise...currently i have old prudential policy, pru med major. i feel my medical card annual limit and lifetime limit is very little. if not mistaken annual= 75k, lifetime=225k.

i'm considering upgrade to prudential pru value med. but i find great eastern smart extender give me high annual limit, 990k (SE90k) compared to prudential 1mil.

do u think it is good i cancel my prudential and get great eastern?
any other option available?

thanks.

Provided your health is still good then it's worth to go for the upgrade. Please do keep your old medical card for 4 months while waiting for the waiting period for the new medical card as well

AIA a med regular provides rm1.1Mil annual limit with no lifetime limit and no co insurance.

This post has been edited by aarondotcom89: Apr 8 2016, 02:44 PM

Opps sorry. I beg to differ. Not ALL companies got such clause.
Prudential do not have such clause. Showed in policy "Guaranteed Renewable".

I dont understand your point in cancelling your policies to protect whaaat?


You see, you're comparing the focus of an Insurance company with an Investment company.
I'm a Pru client too. As I'm super glad that Eastspring is doing superbly well, did you know they manage PRU funds too.

You have to know what your needs/wants are.
If you need protection, you don't go to Eastspring do you?

*EDIT*
Perfect timing for your post. We were just discussing about the "Withdrawal Portfolio Condition" clause in AIA and GE policies. This should be your concern rather than annual limits.

My opinion?
I want to know that I am protected until I die and not WORRY when the company decides to cancel my policy because they think I'm going to utilize their claims

PRU value med's open limit of RM1million is good enough. Way more than enough.
If I am going treatment after treatment UP TO RM1million, I'd rather die.
Do you know how much you have to suffer to utilize RM1,000,000 on treatment

The clause referred to is cancelling the entire class of policies. Whilst it can be done, it's quite a drastic move. They won't do it if they don't want to pay 1 particular case or even 10 cases. It has to be ALL of the policies within that portfolio
But yes, it's in virtually all life policies

Investment Linked policies basically means you pay same amount of money throughout the policy tenure, but in the beginning insurance charge is lower and therefore the differential is invested into funds that supposedly help grow the cash value so that when you are older it will subsidise the higher insurance charge. So the rate of returns from the funds is crucial to determine whether or not you need to top up premium to keep your policy in force

The prulink equity fund return for last 1 year is -3.18% and cumulative 5 years is 22.89%

Compare this with

Eastspring Investment Equity Income fund last 1 year is 1.27% and cumulative 5 years is 73.66%

Compared this with

AIA EQUITY DIVIDEND FUND last 1 year is 1.47% and 3 years annualised is 8.73%

Hence why I say to compare investment linked fund returns before signing up an investment linked policy
Disclaimer: I don't own AIA policy and do not sell as well.

AIA EQUITY DIVIDEND FUND 5years data?
And can you share the source of this information..

Sure
https://www.aia.com.my/content/dam/my/en/do...02_FFS_EDFA.pdf

They don't show 5 years data

Actually, prulink equity shows 3 years data
https://www2.prudential.com.my/export/sites...kequityfund.pdf

3 years cumulative 8.62% vs AIA 8.73% annualised returns (that 26.19% without considering compounding effect!)

That's a clearer view. With a 0.11% difference, I'd still take Prudential over clauses where the company can decide to stop covering my life at any point of time they like.


*EDIT*
In your expertise of accounting, what is your opinion on 0.11% difference?

This post has been edited by Ayrehn: Apr 8 2016, 03:36 PM

Please read properly
What was presented in Prulink fact sheet is cumulative 8.62%, that works out to be 2.87% annualised; compared to AIA 8.73% annualised

Cumulative apple-to-apple comparison would be Prulink 8.62% vs AIA 26.19%

How la you want people to buy insurance from you

Woooo. Who is selling any insurance to you all here?
Sorry I don't.

Whats your take on Eastspring Investment Small Cap?