To those aia agents, is it compulsory to have an ipad?

Sifu-sifu sekalian,

I currently have an existing medical card and a basic coverage of ~100K across Death/TPD/36CI (all with GE) and would like to top up my protection (higher priority on income replacement for Early CI, but would ideally want the Death/TPD benefits if possible).

Wanted to ask for opinion in terms of which plan proposed is better and what are the pitfalls of each that I might not be aware off:
- Guess ultimately this might be a standalone vs rider comparison? Which is better for what kind of situation?
- Seems like quite a big difference in the monthly premium though. How come?
- Current medical card with GE has some form of early CI payout as well (think it was 25-50-100). Will claims be more difficult if I get a separate AIA protection? Do they accept copies or both insists on original from the hospital?

1) GE Early VantageCare (Proposed Sum Assured: 150K to 175K)
- Early CI payout of 50% (Stage 1), 100% (Stage 2), 100% (Stage 3)
- Sum assured is payable for Death/TPD/Full CI Claims
  a) Since this is a standalone CI ILP, the sum assured is projected to rise over time, which means death, TPD and CI coverage increases over the years.
  b) Upon full CI claim, policy is considered terminated (so no more death/TPD benefit), but there is option for death benefit buyback (apparently GE will calculate premium based on the rate for age of next birthday at that point in time, but no additional loading imposed --> "Premium of the buyback cover shall be at the same class of rating as this policy and in accordance with the company's rate then in use for the age next birthday of life assured without evidence of assurability".
- Estimated Monthly Premium: Max RM 400

1) AIA A-LifeLink + Early Critical Care Rider + Premium Waiver Rider upon CI (Proposed Sum Assured: 150K to 175K)
- Early CI payout of 30% (Stage 1), 60% (Stage 2), 100% (Stage 3)
- Sum assured is "separated" between Death/TPD and CI (since the latter is technically a rider).
  a) Since this is an ILP, sum assured is projected to rise over time, which means death & TPD coverage increases over the years.
  b) For CI, since is is a rider, the sum assured will remain static.
  c) Apparently, Death & TPD coverage is still inforced at 100% of sum assured *even after* full CI claim. (Not sure if this is true or agent is just smoking me)
- Estimated Monthly Premium: Max RM 300

Any idea what insurance to buy? i am in my late 20s. i hear is better to buy insurance since young. any advise?any agents that gives rebates her...share share commision

If now you are paying RM100 for RM100K and on the 7th year you increase it to RM200K and additional premium is RM120 (for the additional RM100K), then only the RM120k is subjected to another 7 years of cash value allocation.

This is why it is not beneficial to cancel the old policy just to start a new.

If there is no health issues at the point of upgrade then just add it on top of the existing policy if the policy allows for upgrading (eg, if it is an ILP policy). The reason for upgrading it on the existing policy is because there is a policy fee being charged annually for every policy that you own.

However, there is an instances that if there is a health issue, and if the upgrade was performed on the existing policy, the earlier RM100K will now have a loading.

Therefore a new policy is recommended to co-exist with the old policy (without loading/exclusion) together with the new policy (with loading/exclusion).

The add on or new policy is the same for the additional coverage

Just that the old policy coverage will remain based on original inception date

You add on sum assured not the TPD

Meaning i should focus first on my basic coverage, before focusing on medical card? Thanks for the info. Can i know is 5 yrs is the standard?

Hi EWill!

I'm an agent with Allianz. It is possible to get RM300 per month for 1.5 Million however the cash value is not going to look pretty and the chances of you doing a top premium in the next 20 years is high!

Really depends on what you are looking for.

1) High protection but potentially need a premium top up in the subsequent years or;

2) Lower protection but potentially no premium top up for the next 30 years

Perhaps you can check with your agent if it would be wiser to get a sum assured of RM1,000,000 for RM300 monthly.

Best,
Holocene

Well my reply got reported for due to soliciting charges. Hahaha newbie kena from some oldies here.

Anyways, depends on your age, sex, job and if you smoke it will determine the premium.

However if I am a 30 year old male accountant that does not smoke, I'll probably get a premium of RM1,600

Hopefully this info is helpful.

No soliciting intentions here.

The easy way to differentiate the difference is that, powerlink is what we allianz agents used for medical cards as the riders for Powerlink includes medical card, CI and various other riders whereas premierlink is a plan for life insurance.

It is possible to quote RM1200 for 500k however the reason would be the same as my reply to EWill.

Perhaps you can get a sales illustration for further details.

Best,
Holocene

Ah! Then you can go ahead if you do not mind topping up on the premium in the future. Given that you are a savvy investor, you could probably make enough returns in your other investment vehicles to cover the future premium increment!

Ask the guy to use premierlink instead!

Best,
Holocene

In the past I've raised the importance of considering the investment linked fund returns when selecting insurance company for investment linked policies and it usually get shot down with the standard 'don't mix protection with investment' bla bla. But the investment linked funds will help you grow the capital to sustain the higher insurance cost later on and therefore is an important consideration.

In the past there's no easy way to compare returns of these investment linked funds. Today someone sent me this website that has the info so I'm sharing this with you guys

[attachmentid=7905272]

So clearly not all funds do well and if you are with the lower returns one, you may end up with less cash value, or worse, running out of cash value later on and have to increase premium to maintain the policy

Credits: http://iportfolio.com.my/compare

Hi all,
my current standalone medical card, RM7XX premium/year with:
140k per annum
No annual limit

I'm at the end of 20s, should I keep this plan "until I'm old" (of course it will be super duper.expensive when I'm "old") or I should have change to investment link policy, RM26xx premium/year with:
1million per annum
No annual limit

However my agent told me that since I've done gastroscopy (the result is benign) and appendicitis operation with the standalone medical card, so the insurance company will not insured my "stomach" when I bought the new medical card with investment link (RM26xx).. she advise me to keep both which is kinda costly for.. is it truth or myth?

that's why I've been thinking why not I just keep the standalone medical card (for 3x years) with 140k annual limit.. but I'm also afraid of 140k is never enough for medical bills in the future.

she didn't ask and I wasn't aware there was a direct debit. Thank you I'll see if I can drop by the office later.

here's the kicker. read this email i received from Prudential.



I was told by my agent that pru saver is a different entity altogether but it will add on to your benefit. I was paying 350myr a month for a basic medical plan with 5 different riders on top of it. Pru guard. Pru whatever shit. you name it. when surender suddenly two different medical card and ILP are all combined as one as you can see in the email.

and here's the kicker. I compared my plan with the one I got from fundsupermart smart, I am now paying myr 250 for better benefits as you can see below.

[attachmentid=8132473]

this policy didn't push me to buy multiple riders. when I request for a medical coverage, this is what I wanted all this time not some investment linked plan to save or whatever shit.