Dear insurance agent,

Is it normal for insurance agent to ask if we have any existing insurance when we want to sign-up for a new policy? What is the purpose of asking this?

Thanks.

guys i'm planning to get an insurance (Medical Card Only) for my son, he's 24 years old and about to get his first job soon. I have looked on the AIA medical protection and interested in A-Plus Med (Plan 300) my question is can i get the standalone medical card package with that Plan 300 (RM877.68) or i need to have life protection plan bundled with that Plan 300?

Hi all,

I already have insurance with prudential since 2000. Never use it until last feb where I had an accident. Total of everything including post hospitalization is almost 40k. When I went to prudential to claim for my post hospitalization (I no longer have agent)  they told me my claim is limited to 50k per year, which mean, if I have another accident this year (god forbid) it won't be enough to cover it.

I can upgrade my insurance, but the problem is, I will lost few benefits like hospitalization daily allowance. Also when I took my insurance in 2000, I don't have any medical condition, but now I have high blood pressure and if I renew it, my insurance won't cover it. They advise me to maintain my current insurance and take a new one.

So, anybody can suggest insurance that cover accident and hospitalization? I think that's all I need because my current insurance can cover the rest.

Also they told me that new insurance won't cover 100% like my current insurance, where I need to pay 10% of the cost. Is that true?

Any agent feel free to contact me via PM. thanks.

They advise me to maintain my current insurance and take a new one.

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

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.

they have the right to deny any claim if they feel it is fraudulent

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

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.

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%

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!)

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 

If I am not mistaken a Portfolio Withdrawal is a right of all the insurance companies to withdraw a product in event of adverse claims experience. All they need to do is to seek approval from BNM and justify why they want to withdraw the whole portfolio. Once approved, then that product will no longer be available for new business or renewals. So far, I have not seen one over the past 25 years, but never know what the future looks like. Hence, everybody should not worry about this Clause because it applies to all insurers.

What you need to worry is whether you have sufficient Life and Health insurance coverage in event of unforeseen circumstances.

My last policy was with Prudential, and this was the excuse they used to deny my claim

You might be surprised that certain agent will use this to confuse their client for their own insurance sales advantage as most consumer are not knowledgeable about insurance product.

Particularly I am kind of concern of this clause, and I found not many insurance company without this clause.

I found out only Pacific insurance, Lon-Pac insurance and Prudential insurance without this clause.

Another clause I found out only Pacific and Lon-Pac have guaranteed renewable.
Last one is " insurance company does not have the right to amend or alter the policy benefits of policy holder........

That clause only I found out in Pacific, Lon-Pac and Prudential.

Although some mentioned it did not happens for the past 25 years but I still feel it is better to protect myself first then pointless arguing when it happened.

Example of mine.
[attachmentid=6340048]

Well like I said, this Clause is a universal clause, ie., no need to put inside the policy contract because it is talking about the whole product portfolio. As long as gotten BNM approval, whole portfolio can be withdrawn. So it is up to insurance company practices whether they want to be transparent or not. Not there does not mean cannot execute it. This is part of financial risk management.

Not a big issue. I dont see why this issue needs to be magnified. Unless it's an intention to pull down other life companies aside from company P who is providing such guarantee. Then let the consumer decide.

Not a big issue. I dont see why this issue needs to be magnified. Unless it's an intention to pull down other life companies aside from company P who is providing such guarantee. Then let the consumer decide.

It's definitely not an intention to bring down other companies but as a client, I want to be sure that a certain company will stick with me until the end of my life.

I can't be having my life in the hands of companies that are protecting me as and when they like.

This is very important to a client and i think everyone should know about. Terms & Conditions are one helluva danger especially relating to my own life.

Okay whatever float your boat.

The insurance company won't execute the denial clause, but the humans working will.
Insurance company won't cheat you, but insurance agent will.

Well, when you are not facing any problem yet, you can laugh at me, but once you face the same problem like me, you will know how I feel during that time.

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?

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.

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

I know you trying your very best to insult me since you have many backups here, but if you dare to cover the lost from the chart you used to cheat or mislead like the chart is saying making 10%, if in actual it is only doing merely 0.5-1%, can you cover that lost?
Up to today I've not seen any agent that lurking here looking for victim have the guts to answer this question.
And like you said it is an investment, sure will have up and down, but why not use the down trend when selling?

As consumers, we need to protect our own interests as well. Nobody in the world can guarantee us abnormally high returns, we all know it when it sounded so "fishy". When the agent gives a 13% projection, we got know for ourselves if that is right.

If we cannot take risk, then keep the money in FD and buy a traditional policy instead of an investment linked policy.

High risk, high return/high loss

meaning if one doesn't want to take risk, better put in FD with PIDM protection  :thumbsup:

Well, people need to learn from somewhere, only my time is no internet, so won't know much.
So get cheated lor. But when I share this knowledge, all the agents start attacks me, as their rice bowl are affected

Itu macam Lamborghini. Everybody looking at it 

Yup, you are right, any agent will sure say what you says, is my mistake on trusting an insurance agent.
BTW, stop cheating people that we are PIDM protected on insurance.
We can claim from PIDM only if that insurance company goes bankrupt

under prudential also?

yeah that is what exactly i need ! no need to bring anything, just a medical card will do

do you have any contact number?