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 Insurance Talk V3, Anything and everything about insurance

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ckdenion
post Oct 15 2016, 03:54 PM

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QUOTE(lifebalance @ Oct 15 2016, 01:40 PM)
So apparently if I am representing an insurance company I can't post suggestion on the insurance company I'm representing that members of the forum are asking for opinion but it's okay for people who don't represent an insurance company to post about an insurance company product benefit with the company name on it.

This is not even an attempt to solicit any business but to provide them insight of other insurance company providing such feature.

» Click to show Spoiler - click again to hide... «

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let's wait for mod to explain perhaps? i think most didn't manage to see ur post. hmm.gif

This post has been edited by ckdenion: Oct 15 2016, 03:54 PM
ckdenion
post Oct 17 2016, 01:09 AM

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QUOTE(SGSuser @ Oct 16 2016, 11:05 PM)
cheap but got deductibles tho...and what is the medvalue point?
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MedValue Point, in my understanding is just the plan option. u can pick 1mil, 1.5mil or 2mil.


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ckdenion
post Oct 17 2016, 11:43 PM

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QUOTE(SGSuser @ Oct 17 2016, 01:59 AM)
yes, and that option affects the price too

ive a few friends with 1 mil as their medvalue point
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i have friends with 1mil medvalue point but eventually servicing agent will ask them to upgrade wink.gif

QUOTE(bongobb @ Oct 17 2016, 10:10 AM)
I came across one insurance plan recently.
1) It covers 500k CI and 500k Life, says if diagnose with CI first 500k will be paid to the insurer, if upon death another 500k will go to beneficial plus returns, so total 1m+ if this scenario happen before 65yo.
if upon death first, have to ask isit RM1mil payout or only RM500k payout.

2) premium 9k pa for 20 yrs , total paid RM180k

3) it will ends at 65yo and guaranteed return of RM210k.

So what do you all think? Worth to go ahead?
actually imo, we cannot help u to decide whether is it worth for you to proceed or not. end of the day you are the one that need to know whether do you need this amount of protection or not, or need even more/less. as long as you see the benefits of this plan and you need the protection and comfortable with the premium proposed, then u can actually proceed icon_rolleyes.gif
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ckdenion
post Oct 20 2016, 12:14 AM

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QUOTE(Avangelice @ Oct 19 2016, 07:55 PM)
I just found out my insurance with ________ was not explained properly by my agent. I specifically told her i want to increase my medical card coverage but instead she go add on _____ on top of my medical which is an investment UNIT TRUST. so total i am spending 350rm (200+150) per month for something I did not want!

so pissed off right now.  I am not stating the company name because it is an agent issue.
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is it a seperate plan? or it is RM350/month premium in 1 plan?

QUOTE(Avangelice @ Oct 19 2016, 08:17 PM)
I am itching to cancel it but I know I will be losing premiums. That said,

1)I want to change an agent.

2) Is it possible to "change" my plans and shift everything to medical coverage.

3) push comes to shove I will just change my credit card and wash my hands off the company and buy another medical coverage from another agent
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u have the right to change agent. by the way, it's better to solve it with her. just tell her that u are aware the medical coverage is not upgraded and you are not paying for what u want.
ckdenion
post Oct 21 2016, 11:17 PM

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QUOTE(act one @ Oct 20 2016, 10:46 PM)
Pls don't simply terminate your insurance contract.

Is very hard to get back your old payment total amount.
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unless u know what u are doing tongue.gif

QUOTE(Avangelice @ Oct 21 2016, 11:08 PM)
now I'm stuck with a 200myr premium for 50,000 protection. it's shit tho. back to square one. adui

btw I have been paying 150 for 16 months and return was 3k
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return 3k or cash value 3k? RM150 * 16 months = RM2400. u got more than what u put in?
ckdenion
post Oct 21 2016, 11:22 PM

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QUOTE(Avangelice @ Oct 21 2016, 11:16 PM)
if that's the case why need agents. even customer service exec told me these days you can claim anything on your own. I think she didn't think much when she was talking to me.
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agents shud be able to give proper advice to you on your insurance and financial needs. other than that, i think it is important to also help you to do servicing instead of everything self service. customer service cannot advise on the insurance plan part but can only help in after sales service biggrin.gif

better to have an agent to follow up of course! wink.gif
ckdenion
post Oct 21 2016, 11:40 PM

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QUOTE(Avangelice @ Oct 21 2016, 11:27 PM)
yeap I think so. but the money back isn't an issue which leads me to my reply below....

you found out your agent sold you a saver policy when you specifically asked for better protection. I think she was thinking get you to save money to invest it under the insurance equity to secure your future.

seriously I'm already investing in unit trusts why must I buy the unit trust under that insurance company.
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ok at least u have extra return there... then take out and buy what you really need for urself. btw what is a saver policy?
ckdenion
post Oct 22 2016, 11:10 PM

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QUOTE(dannychen @ Oct 22 2016, 02:17 PM)
agents give you the convenience to make changes/purchase new policies even during weekend or after office hours. provided that they act best of your interest rather than focusing on his own commission.
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thumbup.gif couldn't agree more!
ckdenion
post Oct 24 2016, 09:14 PM

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no matter what, i think our job here is always to make sure people have a back-up plan which is owning a personal medical insurance.

very agree with holocene, irregardless of the government decision on the medical care subsidy, we still do our job and make sure people have more options other than government hospitals icon_rolleyes.gif

This post has been edited by ckdenion: Oct 24 2016, 09:14 PM
ckdenion
post Oct 26 2016, 12:07 PM

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QUOTE(kazekage_09 @ Oct 26 2016, 09:40 AM)
FPP is an option for those who can afford to pay and get to choose their favourite surgeon/specialist. The RM1 service will still be there. That letter maybe purposely being viral by certain individuals to create some havoc since near the Budget 2017. FPP exist long time already.

From what I know FPP also is also government initiative to keep the specialist in gov sector from going to private. As we know specialist in private earn so so much more compared to gov. So with FPP those specialist can get a good additional income.
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when i first saw this on fb, i think most of it that circulate around and create hoax didn't really find out more in details... anyway what u share here is a good info to me. thanks!
ckdenion
post Oct 26 2016, 05:58 PM

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QUOTE(Vingoh @ Oct 26 2016, 02:56 PM)
Want upgrade my policy but the agent told me cannot upgrade, just cancel and buy new one
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is that agent ur existing agent? same policy under this agent and telling u to cancel and buy another one? rclxub.gif
ckdenion
post Oct 26 2016, 10:52 PM

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QUOTE(Avangelice @ Oct 26 2016, 07:15 PM)
Rant here.
» Click to show Spoiler - click again to hide... «

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i think the plan is to cover specifically in the event of cancer? i think it is better u meet up the agent face to face to discuss. perhaps thru email, u can only see the products features and benefits but i think if u can meet up the agent together with her and listen to agent advice first?

even if we are the agents here, we also got no idea why this plan. we didnt speak with you and your girlfriend face to face and not very sure of her financial needs background.

for me, i wont judge based on email cz it looks like it is just product presentation. hope u can arrange and meet up the agent together with your girlfriend icon_rolleyes.gif
ckdenion
post Oct 26 2016, 11:09 PM

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QUOTE(Avangelice @ Oct 26 2016, 10:54 PM)
I am not here to cause a fight but I think the insurance agents need to realize that they will be out phase sooner or later. heck we can now purchase prudential and Zurich plans in FSM and the vendors are slowly increasing.

what I am trying to saying is bring back the human touch of being an agent. know that though your work you know you are saving families from hardships in times of sickness or a fatal incident. part of your work saves us medical practitioners from feeling bad that people cannot accept medical.thumbup.gif

each and everyone of you must remind yourselves the true essence of having a comprehensive insurance and not market it as a savings investment premium. leave it to financial planners. you guys are not the best financial planners at all.just because one agent treat you like that, i think it is not so good to quote "each of everyone of us". i dun mind u ranting here but i believe u r here to also want us to help u solve ur problem right? hope you can understand.
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ckdenion
post Oct 26 2016, 11:25 PM

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QUOTE(Avangelice @ Oct 26 2016, 11:17 PM)
one im okay. but two from two different firms? and don't be defensive about it I did not generalize anyone. what I am talking about or aiming to is agents who have lost their way where sales is more important.

ppl hate us medical practitioners for over charging treatments or surgery onto patients that may not need them eventho we believe it is in their best interest.. like wise this applies to insurance agents. see where I'm going?
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understand ur point of view though. i do agree with you that there are insurance agents that just sell based on products but not based on clients' needs. To me, it is important to educate clients and help them identify their needs together.

anyway, since ur girlfriend has not start the plan, then good for u that at least u know what she needs and what really can supplement her financial planning! btw, her agent = ur agent? or different agent?
ckdenion
post Oct 26 2016, 11:44 PM

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QUOTE(Avangelice @ Oct 26 2016, 11:34 PM)
my agent from prudential and hers from AIA. two different people but yet same MO. huat all the way.

scary how I calculated her premium to reach 4k a year and in 20 years she has spent near 100k and to top it off her agent didn't even structure the plan base on her net worth. main hantam all the rider I see in the AIA website
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u shud really meet her agent and educate back perhaps? anyway, i think it is also good that you share your knowledge to both the agents so they know where you come from. i love to meet people like you because i can learn something especially in investment. too bad you are from east msia.
ckdenion
post Oct 29 2016, 01:31 AM

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QUOTE(heavensea @ Oct 28 2016, 10:04 AM)
bro you really got the point.. like hitting my head with wood stick lol. I'll talk to insurance agent asap to discuss about actual amount I receive if I surrender right now. I think the agent would try her very best way to convince me not to surrender zzz.
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of course agent will convince u not to surrender. but come to think of it, u mentioned that when u start that time u know little about financial planning and u were just a dota boy (maybe some dota boys are good in financial planning). now, u know what suits u and what not. so as long as u know what u r doing and have a better understanding in other investment vehicle and can commit to save and earn from there, then i believe u can make better decision now compared to last time rolleyes.gif

QUOTE(heavensea @ Oct 28 2016, 10:17 AM)
after 4 years,
I would get more rm3376 assume I've sureender by now and re-invested into the other pool.

It's not very much of different.. should I keep it first, in case I've change my mind after 4 yrs?
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check your projection table from ur policy contract. we cannot decide for you. you know what's the best for yourself now.
ckdenion
post Nov 1 2016, 05:48 PM

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QUOTE(sekelord @ Oct 31 2016, 11:18 AM)
Hi

I didn't catch this message in time ,I was at maybank just now.
Here is what I capture.
Maybank and manualife both cap at age 65years old.
AIA, Zurich cap at age 70.
I still yet to find out great eastern, prudential, allianz. Public bank home leong too.

Thanks
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last entry age for:
GE 65y/o
PRU 70y/o
ALLIANZ 70y/o
Hong Leong 70y/o

this is the info i found from product brochures. if anyone find it wrong, pls correct me. hope this help u to narrow down ur search!

This post has been edited by ckdenion: Nov 1 2016, 05:52 PM
ckdenion
post Nov 8 2016, 12:43 AM

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QUOTE(Kellicros @ Nov 3 2016, 12:03 AM)
» Click to show Spoiler - click again to hide... «


Also, I still remember I told my agent about the lump on my leg, when I am filling the forms, his advice was to leave it out because it is not considered "serious illness", well 4 years ago the lump was small and wasn't an issue at all. Also, 4 years I have been paying my premium on-time (via auto-debit, yes 4 years, I just checked my policy), doesn't the agent get part of my money as commission? Shouldn't him be at the hospital to assist me the only one time I needed him in these 4 years? Am I asking too much?
Agents are not in the position to judge whether that issue is "minor" or "major" illness or not. It is better to declare any past history to avoid any claims in the future. anyway i know kinda late to mention about this but i hope your agent can be honest next time
» Click to show Spoiler - click again to hide... «

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QUOTE(heavensea @ Nov 5 2016, 07:52 AM)
» Click to show Spoiler - click again to hide... «


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?
agent have to declare and submit ur application and let underwriter to decide. end of the day if there is any exclusion, there will be a Letter of Conditional Acceptance for you to sign and acknowledge. if you do not agree with the conditional acceptance term, u can just reject the policy and get back ur refund of premium paid

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.
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QUOTE(heavensea @ Nov 5 2016, 08:22 AM)
Thanks for the feedbacks, do I charge for anything during waiting for apply? My agent want to charge my cc for half year premium, that's why I don't want to proceed..
yes they will charge you based on your frequency of premium (monthly,quarterly,half-yearly,yearly). minimum is 2 months premium (monthly). so what u can do is apply first and see what is the outcome. if end of the day you reject the conditional acceptance offered by the company, company shall refund ur premium.
And i would keep my standalone mc only, for the rest of my life. Cons is annual limit 140k, pros is no life time limit.
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QUOTE(heavensea @ Nov 5 2016, 10:23 AM)
» Click to show Spoiler - click again to hide... «


actually I don't understand why simply gastroscopy (result is benign) and appendicitis opetation would caused them don't exclude this in my future medical plan.. after all, gastrocopy=medical check up and appendicitis operation is very usual operation...
again agents cannot judge. the result depends on the underwriter.
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This post has been edited by ckdenion: Nov 8 2016, 12:44 AM
ckdenion
post Nov 12 2016, 11:04 PM

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QUOTE(Avangelice @ Nov 11 2016, 09:39 PM)
1) purchased under the pressure of friendship.

2) purchase a year back when I didn't know the difference between investment linked insurance to protection coverage and medical coverage to life insurance.

3) instructed the "friend" I wanted more medical coverage and she go make me sign a insurance linked plan until I went through my policy online and found out what I purchased was not what intended.

4) calculated the irr for the investment linked insurance (purchase of unit trusts under the insurance company)  and its piss poor compared to what I am getting from retail unittrusts
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U mentioned this previously right that the surrender value is at least getting ur principal back? I thought it is not a medical plan? Just investment-linked policy that comes with life insurance coverage, if i remember correctly...
ckdenion
post Nov 24 2016, 10:54 PM

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QUOTE(Avangelice @ Nov 23 2016, 02:20 PM)
just surrendered my insurance policy today. was asked 5 times by the exec if I knew what I am about to do and whether my agent knows about it. I said yes 5 times.

I do not advocate everyone to follow my footsteps but the trust between my agent and I have been broken and I rather lose my insurance than deal with her.

Total spent on insurance since 2014 is MYR 9000. total received upon surrendering myr 3220.
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i thought u surrendered because u can at least get back ur premium paid.

QUOTE(JIUHWEI @ Nov 24 2016, 03:17 PM)
Bro... there is an option to change servicing agent bro...

console.gif
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also because this plan doesnt suit his needs.
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