HahA.. tot to say the same.. this forum shall be proactive.. not war place

Investment link life insurance..

got one query on the above.. if i pay rm300 for 1million coverage.. the agent mentioned that after avg 2x years plus.. there are high possibility for my police to lapse.. since insurance charges are higher than what available in balance fund / cash value on later age..

how true is this ?
And. what i tought before was if we keep paying one amount per month for lifelong.. the policy shall be forever active.. - not sure if this traditional or investment link policy..

If it's an investment link policy, since the cost of insurance is non guaranteed to be to same the whole life as well as your investment return. Therefore there will be possibility your policy will need a top up in the future should either 1 of this condition fails to fulfill

Whereas if you opt for traditional policy, you will not face this issue since the return is guaranteed.

However you'll need to pay 2.5x to 3x more for traditional policy compared to an investment link policy.

Thanks for the info.. this clarifies why policy lapse..

No problem =)

Btw... are there still any traditional policies being offered by insurance companies nowdays ?

Still got

Hi guys,

Want to ask some ques here

Is depositing money into insurance company's savings plan (something like HLA Wealth Invest and GE Savings) a great way to avoid taxation of income ?

Let's say I received 600k from a friend, if I put this 600k into savings plan, will LHDN be notified of this big amount? Will the 600k be taxable ?

And will the yearly income from the savings plan be taxable ?

Please bear with my English ty

You might be required to furnish documents for financial underwriting purposes by the insurance company.

Best,
Jiansheng

You will be required to answer large deposit questionnaire and furnish income document for such big deposits depending on what’s the threshold set by HLA for the plan

If you buy at younger age then the possibility for the insurance ceased to be in-forced will happen when the cash value is not sufficient to sustain the policy. Example if you join in your 30s, the cos of insurance will be higher will start from age 61-70,71-80 and 81-100. So from your age 30- 60 is thirty years investment period.During this 30 years period the cost of insurance is not high therefore the investment cash value will be enough to cover.If you did not withdraw the cash value then the policy may sustain until you age 70+s. Its all stated clearly in the quotation. And beside that every insurance have loyalty bonus which will pay at age either on age 60,70 or 80 depending on your entry age.

Many insurers are giving very cheap insurance due to using step premium method. There are not enough reserved fund to cover your policy when u gets older. Like every 5 year they tell you the price is increasing. Buy cheap pay more later.. or Pay average premium that can sustain for xxx years. like malay say .. bersusah susah dahulu... bersenang senang kemudian. or you prefer the other way? Thats why term insurance is highly not recommendable.. due to if one get any 36 critical illness or major illness.. they cannot get term insurance for the following year. worst still other insurer will not accept them.. So many wanna buy cheap term medical but they never think for long term. usually u can see they are now suffering for their medical cost. FYI

P/s: you can add some savings to increase the policy sustainable years. And if you just want to enjoy 25 years protection withdraw before the value drop and use that for other investment channel. You still win all in the end. 20 over years protection and get back more than what you paid.

This post has been edited by rcantona7: Dec 16 2017, 07:46 PM

Is chiropractor covered by insurance?

we have anti money laundering act. You need to provide proof of income or the source of the money. Its not advisable to put 1 lump sum of money into a saving plan with 30 policy years locked. You may get cheaper total premium compare to others but you will lose a few benefits if you pay by annually

Normally insurers will ask how does one pay the premium,
1. income
2. Savings.
3. other investment income
4. others

for 1 2 3 they have gone through LHDN tax so which means the premium you pay will not be Taxable but it will subject to GST.

This post has been edited by rcantona7: Dec 16 2017, 08:08 PM

Yes for Prudential we cover Traditional and complementary treatment which is registered for Acupuncture , Traditional treatment, chiropractor and bone setter. per year/ per case/ per lifetimelimit.

Hmm this what's the limit let's say after a patient get stroke?
Like AIA depending on plan is up to certain limit and 60 days post hospitalization only.

Our PruAcciMed reimburse expenses for
1. medical treatment, hospital confinement, or nursing services up to 104 weeks from the accident
2. traditional and complementary medicine practitioner ( a licensed acupuncturist / herbalist/ bonesetter /chiropractor) up to RM30 per visit and maximum of RM 300 per accident, RM1500 per lifetime within 90 days from the accident.
3. Can reimburse for Medsaver300 from this rider for hospitalization due to accident.
4. Overseas companion allowance
- Return ticket for 1 of the immediate family to visit life assured hospitalized in overseas for at least 10 days due to accident
- One way ticket for life assured to return to malaysia immediately after hospitalization.
5. Prothesis/ Wheelchair allowance.

This post has been edited by rcantona7: Dec 17 2017, 12:22 AM

have to see the insurance charges from the product disclosure. and yea there is no guarantee that it will be enough to cover too due to non-guarantee insurance charges.

yeap. most still offer traditional policies.

if u deposit a big lump sum of amount into insurance plans, highly likely company will underwrite a few financial questionnaires.

this is for accident cases? what about stroke like what icehart asked?

if he meant traditional and complementary treatment
Only cover for accidental cause. Traditional and complementary treatment not covered for stroke

If for medical card yes we cover pre & post - 60/90 up to 1 million unlimited.

This post has been edited by rcantona7: Dec 17 2017, 12:50 AM

This is a misleading answer,

Stroke is not even related to Accident.

But go and quote a benefit from a Personal Accident plan as a benefit.

Get your facts right before you post in here.

ok thanks for the clarification!