Dear,

So,
For RM100 package for both

1. It's a stand alone medical card only?

2. How young are you saying? do give a more detailed example.

3. Does it covers 36types of illness?

4. I am still young.
Do provide a quotation, for age 28 and 29 couple.

Thanks

Refer to http://www.aia.com.my/content/dam/my/en/do...Med_Regular.pdf

Standalone medical card.

Just to clarify for the Withdrawal Portfolio Condition clause mentioned few post earlier. AIA had already remove that clause on 1st Dec 2015.

This post has been edited by lifebalance: Apr 14 2016, 07:28 PM

Sorry newbie here, late to the insurance scene and was recommended to U for Life by a relative. https://uforlife.com.my/

Anyone here got any skills in analysing the policies based on their own experience?

It's a term coverage whereby the premium increases as you age. No investment value. If want long term lower cost ownership then get a investment link plan.

sorry newb question, not familiar with all the jargon yet. what's an investment link plan?

An investment link plan is whereby the money you contribute to the insurance policy is spent to pay off the cost of insurance and then the balance is used to purchase units in investment funds. Similar to unit trust.

E g you pay rm200 per month and you're age 20
Your cost of insurance for the policy is only rm50. The excess rm150 is spent to buy investment funds to get you returns for your future cost of insurance. E.g when you get older your cost of insurance increase due to higher risk to die or contract diseases.

As oppose to you buy uforlife and pay Rm50 per month. Sure it's cheaper now but you don't have any investment to pay off your increasing cost of insurance in the future. Which is why term policy is always cheaper at first but gets more expensive later on.

This post has been edited by lifebalance: Apr 14 2016, 06:03 PM

makes total sense. thanks for the writeup!

glad to assist

but if you are looking for something short-term, non-medical, it is a good short-term protection. well, long-term is ok as well, but it gets rather expensive at the end. but from my point of view, life insurance is not needed when you reach certain point in life.

if you want something for medical purposes, then u for life is not for that.

This post has been edited by adele123: Apr 14 2016, 08:50 PM

Even with ILP, the cost of insurance also increase with age.

I urged one to read more about ILP to understand more clearly what is ILP.

With ILP, the total cost of ownership of insurance is also variable factor.
No one can conclude it is "cheaper" or not, mind that the investment part can yield you a loss, which eventually, make the ILP more "expensive" in total due to loss in investment.

There are pro and con with ILP or non-ILP, which depended on one preference.

yeap, as explained in the following post that the investment returns will be used to pay off future higher cost of insurance.

we won't have a crystal ball to foretell what will happen with the future, if the customer would like to have a "certain" future, then traditional policies would suit them better as the returns are guaranteed albeit paying a higher premium.

Bottom line is, you can't have the best of both world, with investment link, you can manage your risk, you can select funds that are generally secure and safe such as fixed income funds, bonds, etc. It wouldn't go towards the extreme unless the country goes bankrupt and Malaysia ends up like Zimbabwe. You'll probably be able to foretell that future by reading the news and then cash out to another country.

As what you've mentioned, it's depending on one's preference. We're just providing solutions suited to different individual with different preference.

This post has been edited by lifebalance: Apr 14 2016, 10:06 PM

I highlighted the issue because some newbie in insurance, may misunderstand ILP is "cheaper" than standalone conventional one.

There are plenty of public out there still do not understand well about ILP mechanism, and may totally misunderstand by the term of fixed premium used as well as cost of insurance.

Investment plan usually are sure lose money plan.
Like if your monthly payment is rm200, rm150 goes to this, your medical benefits are at minimum of rm50, a semi government room rate also more than that already.
So don't buy investment plan at all, if you still think that insurance company will protect you.

Nghtshadow, please dont be misled by users like supersound. His in those group of unreasonable and illogical smarty pants.

Here's some for you supersound.
Firstly, it's called investment for a reason. Is there any investment that you can guarantee anything? In fact.. dont throw out claims based on your opinion. If ILP are sure lose money, the insurance industry would have collapsed by now.

Please. Install some brains before stating bull like that

I think the best way to compare, is to compare the indicative insurance charge that is provided in both uforlife and ILP quotation. and I've done it for prudential and allianz, it's somewhat similar, not significantly cheaper or more expensive.

The investment returns to pay off future higher cost simply mean you pay more in the beginning so that the investment can grow. But if I set the same amount aside when I buy uforlife and invest it myself, I would not be confined to the limited investment linked funds offered by the insurer my policy is with

Honestly, if I were to do it again, that's how I would do it *disgrunted prulink client*

Hey bro, there might be too much info but I think here is a good place for you to start exploring:
http://www.insuranceinfo.com.my/insurance_booklet.php

You're going in the right direction! Keep it up!

But to be fair, PRUlink fund isn't all that bad.

PRUlink Equity Fund: http://www.bloomberg.com/quote/PRLEQTY:MK
Public Mutual Growth Fund: http://www.bloomberg.com/quote/KLGWTFI:MK

On a rate basis, the PRUlink Equity Fund did outperform Public Mutual Growth Fund over the past 5 years.
But of course this isn't reflected in your policy cash value due to COI charges, the agent's commissions, etc.
Agent's commission is only 6 years, after that there is no expense ratio at all (1.5% annually for UT).

Not only that, I'm sure the COI for ILP is lower compared to if you would have bought a standalone product, eg: medical rider.

To sum up:
1. Lower COI
2. Better fund performance
It's really no real/significant difference than paying for a standalone, and buying your UT from UT companies.
In fact, buying separately sets you back by that little bit (if for the sake of arguing la), or really no real difference.

*For the sake of relative Comparison:
Your UT: RM1k/mo + Standalone Insurance Premiums vs RM1000/mo + the same Standalone Insurance Premiums in ILP Premiums (Any insurer)

Please note that the above is strictly for the sake of comparison.
If UT so bad, I also won't buy lah. But I did as it is only beneficial to my own financial plans for the long term.

(Okay, that being said, I kind of want to highlight AIA Equity Plus fund here for a bit of marketing la )
AIA Equity Plus: http://www.bloomberg.com/quote/INGEQTY:MK
AIA Dana Dinamik (Syariah Compliant): http://www.bloomberg.com/quote/AIADYSY:MK