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> Insurance Talk V4!, Anything and everything about Insurance

lowyat2011
post May 24 2018, 02:40 AM

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QUOTE(lifebalance @ May 23 2018, 09:06 AM)
You have a few option which either you upgrade on your existing ILP card if possible or you may also get another standalone or ILP medical card as a supplementary

It depends on your availability of budget to maintain another policy. There is no right or wrong.
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QUOTE(ckdenion @ May 23 2018, 10:25 AM)
If we put premium aside, the benefits from standalone medical card compared to those in ILP (let’s assume the latest plan for both standalone and ILP medical), there are the same (mostly). Can easily identify throuh company brochures from their website. End of the day, its good to see your existing plan first and see whether standalone medical card is worth the long term upgrade.

I will only propose standalone medical only only if budget doesnt allow. Of course i can show you the long term difference between standalone and ILP. Do you have existing ILP plans? If have, can check whether medical rider can be included or not.
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QUOTE(roystevenung @ May 23 2018, 10:52 AM)
Both are equally the same if you only want it to serve one purpose, medical insurance.

However, do note that most insurer nowadays give more attention (add on/upgrade/revision) to medical rider that is attached to the ILP. The standalone medical plans seems stagnant and not much revision (except for the insurance charges of course).

You may want to consider to have a medical card with a high deductible to supplement to your existing card (to save cost).

That being said, it is better to have an agent to go through your existing medical card and advice the pros and cons on having a high deductible as a supplementary card. A RM20K or RM50K deductible on the second card may see a savings of up to 50% of the premium.
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Thanks for the advises!

Just wondering...the premium of investment link + medicard plan is not fixed price for the whole insurance period, It will be adjusted over time, right? Does it make sense to buy standalone medicard plan, if I am looking at pure 'medicard plan' & no investment?
lifebalance
post May 24 2018, 09:19 AM

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QUOTE(lowyat2011 @ May 24 2018, 02:40 AM)
Thanks for the advises!

Just wondering...the premium of investment link + medicard plan is not fixed price for the whole insurance period, It will be adjusted over time, right? Does it make sense to buy standalone medicard plan, if I am looking at pure 'medicard plan' & no investment?
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Yes the cost of insurance for medical card within the investment link plan still increases overtime which is covered by your future cash value that you've accumulated over time.

If you have the discipline to save the money yourself then you can opt for a standalone medical card and save the excess that you have elsewhere for your future cost of insurance.
ckdenion
post May 24 2018, 09:50 AM

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QUOTE(lowyat2011 @ May 24 2018, 02:40 AM)
Thanks for the advises!

Just wondering...the premium of investment link + medicard plan is not fixed price for the whole insurance period, It will be adjusted over time, right? Does it make sense to buy standalone medicard plan, if I am looking at pure 'medicard plan' & no investment?
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if your concern is purely on medical coverage, yes getting a standalone medical card plan does make sense. of course provided you are aware that the premium will be very high during retirement age. even by getting ILP, the cost of medical insurance will also be very expensive in the future. just that for ILP, upfront you are 'paying' more to cover future cost.

best is if you made a comparison between both plans given by agent. for example lets say comparing an ILP (with Room&Board RM300) and a standalone medical coverage (with Room&Board RM300). End of the day you gotta weigh yourself between both plans. wink.gif you know the best decision for yourself.
Micheal Ng
post May 24 2018, 09:21 PM

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Hi,

Need some advise from AIA representative.

Treatment in oversea (eg Taiwan), does my A-Plus Med and booster RM200-Room cover me? Or must take the RM500 Room? As I'm reading the brochure said Oversea Hospitalisation Treatment in SG- NA? If in other country except SG still cover under room 200?

TQ
lifebalance
post May 24 2018, 09:47 PM

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QUOTE(Micheal Ng @ May 24 2018, 09:21 PM)
Hi,

Need some advise from AIA representative.

Treatment in oversea (eg Taiwan), does my A-Plus Med and booster RM200-Room cover me? Or must take the RM500 Room? As I'm reading the brochure said Oversea Hospitalisation Treatment in SG- NA? If in other country except SG still cover under room 200?

TQ
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Any treatment done overseas will need to pay first and file back a claim. You can still claim with R&B 200 but will be based on reasonable and customary charges while seeking treatment overseas.

Its advisable to take up a travel insurance while you're travelling as it provides a more comprehensive coverage while you're abroad

This post has been edited by lifebalance: May 24 2018, 10:27 PM
1UP
post Yesterday, 03:44 PM

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Hi all Sifu,
I'm interested to know more about making a living selling insurance policies. Afaik, we have lots of type of insurance; there are insurance on medical, car, home, business, etc. From your experience, which type of insurance gives good "rewards" for effort of the agent? Thank you.
lifebalance
post Yesterday, 03:53 PM

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QUOTE(1UP @ May 25 2018, 03:44 PM)
Hi all Sifu,
I'm interested to know more about making a living selling insurance policies. Afaik, we have lots of type of insurance; there are insurance on medical, car, home, business, etc. From your experience, which type of insurance gives good "rewards" for effort of the agent? Thank you.
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There are many insurance product in the market to suit different type of need from different individual and walk of life.

You shouldn't be focused on selling only "Good Reward" products. Otherwise you're just labelled as another salesman. No doubt you're doing this industry to earn money but you shouldn't forsake other insurance product which may not pay as good but it fulfills the customer's need.

It's also best to join an insurance agency which will guide you to be a proper insurance agent and be a well-rounder.
1UP
post Yesterday, 07:01 PM

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QUOTE(lifebalance @ May 25 2018, 03:53 PM)
There are many insurance product in the market to suit different type of need from different individual and walk of life.

You shouldn't be focused on selling only "Good Reward" products. Otherwise you're just labelled as another salesman. No doubt you're doing this industry to earn money but you shouldn't forsake other insurance product which may not pay as good but it fulfills the customer's need.

It's also best to join an insurance agency which will guide you to be a proper insurance agent and be a well-rounder.
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Thanks for the wise advice. How can I find good insurance agency?
lifebalance
post Yesterday, 07:02 PM

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QUOTE(1UP @ May 25 2018, 07:01 PM)
Thanks for the wise advice. How can I find good insurance agency?
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You'll have to go interview and find out if you fit for the agency and vice versa
1UP
post Yesterday, 07:59 PM

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QUOTE(lifebalance @ May 25 2018, 07:02 PM)
You'll have to go interview and find out if you fit for the agency and vice versa
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Where can the information on what agencies are there so I can approach them. Thank you

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