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 Insurance Talk V4!, Anything and everything about Insurance

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nova80
post May 15 2018, 01:53 PM

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I looking for coverage for accident and medical, but don't want life insurance or saving. Basically he just want coverage when he is alive, not when his death. What type of insurance should he go for?
lifebalance
post May 15 2018, 01:59 PM

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QUOTE(nova80 @ May 15 2018, 01:53 PM)
I looking for coverage for accident and medical, but don't want life insurance or saving. Basically he just want coverage when he is alive, not when his death. What type of insurance should he go for?
*
Personal accident standalone for accident

Standalone medical card for medical and accident
nova80
post May 15 2018, 02:41 PM

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QUOTE(lifebalance @ May 15 2018, 01:59 PM)
Personal accident standalone for accident

Standalone medical card for medical and accident
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Thanks. How different are them? Need to buy them separately? No all-in package?
lifebalance
post May 15 2018, 02:44 PM

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QUOTE(nova80 @ May 15 2018, 02:41 PM)
Thanks. How different are them? Need to buy them separately? No all-in package?
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All in package is normally under an investment plan.

Since you want no investment involved thus you'll need to buy them as separately

Medical Card claims for any hospitalization whether its by accident or non accident

Whereas personal accident claims for any medical reimbursement due to accident only and also payout for death due to accident or dismemberment
wild_card_my
post May 15 2018, 05:17 PM

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QUOTE(nova80 @ May 15 2018, 02:41 PM)
Thanks. How different are them? Need to buy them separately? No all-in package?
*
Be careful about these yearly renewable insurances though; because they are yearly renewable, the companies can choose to refuse your renewals. With PA it isn't that much of an issue, since most PA deals with accidents, death, and disability. But when it comes to medical cards, your claims this year may prevent you claiming next year and beyond
lifebalance
post May 15 2018, 05:24 PM

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QUOTE(wild_card_my @ May 15 2018, 05:17 PM)
Be careful about these yearly renewable insurances though; because they are yearly renewable, the companies can choose to refuse your renewals. With PA it isn't that much of an issue, since most PA deals with accidents, death, and disability. But when it comes to medical cards, your claims this year may prevent you claiming next year and beyond
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To people who read this statement, kindly ignore what this person wrote above, this guy doesn't know his thing as an agent. Which is misleading.

There is no such clause anymore which suggest that your following year policy will no longer be eligible to claim for the same sickness you have claimed for this year. As long as you've paid for your insurance premium.

Cheers.
wild_card_my
post May 15 2018, 05:26 PM

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QUOTE(lifebalance @ May 15 2018, 05:24 PM)
To people who read this statement, kindly ignore what this person wrote above, this guy doesn't know his thing as an agent. Which is misleading.

There is no such clause anymore which suggest that your following year policy will no longer be eligible to claim for the same sickness you have claimed for this year. As long as you've paid for your insurance premium.

Cheers.
*
Wow, thank you for correcting me. Appreciate it. Do you have a news source pertaining to the changes of the policy?

edit: I did some digging around and found this: https://www.fundsupermart.com.my/insurance/...fe-insurance-35

"Plus, you may not allow to renew the policy for more than 1 time, so read the terms and clauses carefully. Besides, there is generally an age limit for the term renewal meaning you can no longer renew the term after a certain age."

Although it doesn't support my point earlier, it still stands that renewable insurances have limits to them being renewed. A few clauses here and there. Although I appreciate lifebalance in pointing possible errors in my posts, I would prefer that all agents/consultants/advisors work together and not simply comment to find errors in other people's ways. Be a good sport bro, you don't have to be so revenge-ful.

This post has been edited by wild_card_my: May 15 2018, 05:32 PM
Holocene
post May 15 2018, 05:56 PM

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QUOTE(wild_card_my @ May 15 2018, 05:26 PM)
Wow, thank you for correcting me. Appreciate it. Do you have a news source pertaining to the changes of the policy?

edit: I did some digging around and found this: https://www.fundsupermart.com.my/insurance/...fe-insurance-35

"Plus, you may not allow to renew the policy for more than 1 time, so read the terms and clauses carefully. Besides, there is generally an age limit for the term renewal meaning you can no longer renew the term after a certain age."

Although it doesn't support my point earlier, it still stands that renewable insurances have limits to them being renewed. A few clauses here and there. Although I appreciate lifebalance in pointing possible errors in my posts, I would prefer that all agents/consultants/advisors work together and not simply comment to find errors in other people's ways. Be a good sport bro, you don't have to be so revenge-ful.
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Welcome back. You went missing for sometime. Good to have you back 😬
wild_card_my
post May 15 2018, 06:09 PM

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QUOTE(Holocene @ May 15 2018, 05:56 PM)
Welcome back. You went missing for sometime. Good to have you back 😬
*
I had a big project, but I am back for good. Im about to publish my work so got some free time. I remember you face, you haven't changed your profile picture for a year now biggrin.gif
Holocene
post May 15 2018, 06:28 PM

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QUOTE(wild_card_my @ May 15 2018, 06:09 PM)
I had a big project, but I am back for good. Im about to publish my work so got some free time. I remember you face, you haven't changed your profile picture for a year now biggrin.gif
*
I see I see, well hope to see it soon.

No point changing when you look like me 😏

But in all seriousness welcome back.

Best,
Jiansheng
nova80
post May 16 2018, 11:42 AM

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QUOTE(wild_card_my @ May 15 2018, 05:17 PM)
Be careful about these yearly renewable insurances though; because they are yearly renewable, the companies can choose to refuse your renewals. With PA it isn't that much of an issue, since most PA deals with accidents, death, and disability. But when it comes to medical cards, your claims this year may prevent you claiming next year and beyond
*
Thanks, bro!
ckdenion
post May 17 2018, 01:11 AM

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QUOTE(nova80 @ May 15 2018, 01:53 PM)
I looking for coverage for accident and medical, but don't want life insurance or saving. Basically he just want coverage when he is alive, not when his death. What type of insurance should he go for?
*
in this case your concern is wanna get medical expenses coverage. if thats the case only (meaning no life insurance [death/TPD/Critical Illness] or savings) then just get the standalone medical card will do.

Since you say looking also for coverage when still alive, guess Critical Illness benefit payout (to payout a certain amount to cover your living expenses while seeking treatment for critical illnesses) might be also something you will want to look into. wink.gif

QUOTE(nova80 @ May 15 2018, 02:41 PM)
Thanks. How different are them? Need to buy them separately? No all-in package?
*
can buy seperately as in 1 standalone medical card and 1 life insurance (with Critical Illness payout benefit). there is all-in package, it's the one that you mentioned - life insurance + "savings". its better to meet up and discuss to avoid any confusion here biggrin.gif
Ewa Wa
post May 17 2018, 04:23 PM

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QUOTE(wild_card_my @ May 15 2018, 05:17 PM)
Be careful about these yearly renewable insurances though; because they are yearly renewable, the companies can choose to refuse your renewals. With PA it isn't that much of an issue, since most PA deals with accidents, death, and disability. But when it comes to medical cards, your claims this year may prevent you claiming next year and beyond
*
If you are referring to medical benefits for company-group medical, this may apply where big claim comes and unable to claim in the following year. If personal medical plan should not have this issue. As I know the big insurance companies dont have this thing. Mayb you are referring to small company? mega_shok.gif
w3sley
post May 19 2018, 03:50 PM

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HI guys! Have a few questions:

1.For the conversion of standalone to all in one type with the same company, do they allow pre-existing condition or start from new?

2. Which weigh better? Standalone+RIder Vs ILP (All in One)?

Thank you in advance!
lifebalance
post May 19 2018, 04:03 PM

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QUOTE(w3sley @ May 19 2018, 03:50 PM)
HI guys! Have a few questions:

1.For the conversion of standalone to all in one type with the same company, do they allow pre-existing condition or start from new?

2. Which weigh better? Standalone+RIder Vs ILP (All in One)?

Thank you in advance!
*
1. If you're moving from standalone to ILP, it will start all over again. Any pre existing condition may be excluded depending on the underwriter decision.

2. With ILP, you got better option to add on additional rider as compared to a standalone medical card only.

Of course you'll need to fork out a higher premium for the additional benefit as well as for the investment portion.

If you're on a limited budget then opt as standalone term insurance.
w3sley
post May 19 2018, 04:21 PM

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QUOTE(lifebalance @ May 19 2018, 04:03 PM)
1. If you're moving from standalone to ILP, it will start all over again. Any pre existing condition may be excluded depending on the underwriter decision.

2. With ILP, you got better option to add on additional rider as compared to a standalone medical card only.

Of course you'll need to fork out a higher premium for the additional benefit as well as for the investment portion.

If you're on a limited budget then opt as standalone term insurance.
*
For standalone, term contract years normally 5 years right? Got higher?
When it ends, renewable with existing condition?

Thank you for the prompt reply. Trying to identify the risk.
lifebalance
post May 19 2018, 04:32 PM

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QUOTE(w3sley @ May 19 2018, 04:21 PM)
For standalone, term contract years normally 5 years right? Got higher?
When it ends, renewable with existing condition?

Thank you for the prompt reply. Trying to identify the risk.
*
There is no renewable term for AIA standalone medical card. As long as you pay for your premium, you're covered.

Coverage term is until 100 years old
w3sley
post May 19 2018, 06:29 PM

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QUOTE(lifebalance @ May 19 2018, 04:32 PM)
There is no renewable term for AIA standalone medical card. As long as you pay for your premium, you're covered.

Coverage term is until 100 years old
*
Thanks! I will appreciate knowing more options on this renewable term case if possible as there is no one suits it all. Thank you!


lifebalance
post May 19 2018, 06:32 PM

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QUOTE(w3sley @ May 19 2018, 06:29 PM)
Thanks! I will appreciate knowing more options on this renewable term case if possible as there is no one suits it all. Thank you!
*
Glad to help, if you got further questions you can always ask in here again =)
w3sley
post May 19 2018, 06:42 PM

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Here a few more questions on ILP and standalone if any agent can clear my doubt.

For ILP,

-How do we opt for cash value+claim when we faced the covered risk? Is it either one only?

-What happened to the cash value when a claim was made(Cash value X withdraw)?


For standalone,

-Is there a restriction to the rider I want to attach to standalone? Can I DIY base on my needs?

-(Riders) For permanent disability, do they pay a lump sum or replace income(monthly) until death?

For both, Standalone or ILP, the no-claim benefit will become zero after the claim?

Disclaimer: I am not a insurance agent, a working guy looking for an insurance with an unbiased piece of information if possible.

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