Even you had bought a medical insurance at 18 yo, premium will still rise to a high level when you reach 69 yo time.

Medical insurance premium is correlated to your age, not when you bought.

+1

Hard to find the balance when to buy an insurance, you don’t wish to be over insured.

Yes and no, if you start earlier the increment is not as high as when you enter at a later age. Plus some plan can only be renewed at a certain age, and you can’t enter if you are too old.

I have a medical policy for decade or may be decades already that bought at young age, premium has risen more than 100% over the decades, and if I get a new policy now with the same company, the premium just a little hundred plus pa more only.
While if I switch to another insurance company, with the extra hundred pa, I got better annual/lifetime limit than the existing plan.

The so called "cheaper" buy at young age, is not significant at all.
Whilst, sometimes, newer plan may have better offer than old plan as well.

No matter how, medical insurance premium will still rise significant when aging, as insurance is not a charity to start with, they determine premium level based on pool of fund vs claim in their statistic, not whether one has bought the insurance for 10 years or 20 years.

The good about buy at young age is more about eliminate pre-existing illness that won't be covered if bought at old age, (generally you have little illness when young), and get coverage earlier.

which is why the life insurance agent should be about to understand your finances and propose a balanced policy for you.

Well said!

Any insurans better than medisavers VIP takaful S100 SP? Interested with zurich megamed but it is not takaful. Anyone can suggest?

Is there any plan better than PruBSN Anugerah? Looking for a fresh grad.

Basic coverage + medic rider is only RM 100++

This post has been edited by :3mushy:3: Sep 19 2018, 04:34 PM

just declare as back pain, done x-ray for check and no findings. no back pain symptoms now.

cover yourself from medical expenses/inflation risk. life insurance to cover whatever liability you have on hand. any other coverage depends on what life risk one individual has.

medical card is different from life insurance. however do take note, insurance charges is always increasing. premium might seems "cheaper" at younger age because you start paying earlier and you have longer time frame to give. end of the day it's just the same.

if thats the case, then look into post-retirement medical fund. you should be preparing for a emergency medical fund for your post retirement age already.

just find the best balance for your current situation. only you yourself understand the risk that you are taking.

this!

Need help here, I am quite clueless when it comes to insurance although I know it's important.
Can anyone of you especially from this A*A company help to digest and explain each of my plan and how should I use them?

Most importantly, is it sufficient for a mid 20s single fresh graduates?

I remember my agent told me he help me to subscribe for 2 plans:

1. *-LifeLink
He mentioned that it is the critical illness (36 types) and medical card for me. Not sure how to check R&B and other details here. What I don't understand is why all the [Covered Member, Correspondence Person, Covered, Policy Owner, Payor] is my name here.



2. Twin P*
He mentioned this is the Accidental part where I'm given an amount of money if I were to meet accident. Is that correct? On the web application, the client tab shows nothing, my name not indicated here at all.




Question:
a. Did I pay too much for my insurance?
b. Is it sufficient for me?
c. Should I swap to conventional insurance instead of ILP since I can play stock myself?
d. What else is not covered here?

Medical reimbursement benefit is for Hospitalization or GP ?

a. Depends, we need to sit down and understand your situation before a professional opinion can be given.

b. Depends, we need to sit down and understand your situation before a professional opinion can be given.

c. Rather then swap to conventional insurance, maybe reduce the premium to cover your coverage as much as possible rather than include "savings"

d. Life/ Medical seems to be in order, just depends on if the coverage is sufficient for you.

For info on your coverage you should refer to your policy contract.

Best,
Jiansheng

a. There is never paying too much for your insurance, it's just a matter of whether the insurance coverage suits your current financial needs and lifestyle.

b. I won't be able to tell other than to understand you better but since you've engage an agent, he/she should be able to tell whether you're sufficiently covered or not.

c. Some coverages may not be offered in a term insurance compared to an ILP, you may still invest in stock market yourself regardless whether it's an ILP or not, the purpose of ILP is for the insurance company to help you invest the premium elsewhere. If you feel that you want to trade off some coverage here and there and decide to do manually yourself, it's up to you.

If you're a smart investor, I doubt you'll care much of the few 10 - 100 ringgit per month and focus more on earning the big money in the stock market. Let the insurance company handle the rest which is related to insurance.

d. The coverage that you've bought is quite extensive already since it touches everything from death, disability, medical, personal accident and critical illness, the only thing is to move upwards on the existing coverage.

Anyone know which and how much the insurance premium cost to have death benefit/ TPD of 1m and above?

Thank you for your reply. What is your suggestion for a mid 20s single. Is this sufficient?
Based on your reply, I think my agent had prepared me a full range of insurance and covered almost every part already. Thank god I met good agent lol.

I agree with the investment part but how does changing the ILP affects the coverage??

Depends on:

- sex
- age
- occupation
- smoker/nonsmoker
- health history

If you're a 30 year old male working as an accountant, does not smoke and perfectly healthy, your premium for RM1mil cover starts from RM1900 per year.

Best,
Jiansheng

Factors depends on ur age, gender, whether you smoke or not, your occupation.

basically you may not get certain riders that is not offered under non-ILP policies.

Dear All,
I just got my new Honda car for one month. I'm extremely disappointed with the insurance company that insures my car under Honda Insurance Program (HIP). If I face so many admin issues from Day 1, I cannot imagine the nightmare I will face when making a claim.

Can sifus advise if I am able to buy a new insurance from another company and then cancel the original insurance to get the refund and NCB withdrawal?

Asking because when I requested to cancel my policy for my old car which I traded in for this Honda, the insurance company insisted on having road tax cancellation proof from JPJ. I obviously cannot cancel the existing road tax of my new car... or maybe I have to do so?

Hello Sifus,
I saw this thread and wonder why there is no reply to his query. can anyone enlighten us? I thought medical card (attached to life insurance/standalone) should be guarantee renewal? The pricing could be increased but as a whole (group wise) not targeting specific individual who claims the year before?

https://forum.lowyat.net/topic/4663054

==
My mother 64 years old have a tokio marine medical card which we renew annually. Last year however, she was admitted into hospital for colonoscopy - doctor worry there may be something. We claimed the medical card because well that's the use of medical card, right?

Anyway this year during renewal of policy, they slap us with a 20% coinsurance with no cap!!!!!!!!!! mad.gif mad.gif mad.gif mad.gif mad.gif Who have similar experience? Is there anything I can do from my end?
==

Thanks.

That is what called Co-Insurance meaning the policy holder will need to pay certain sum and/or percentage before the insurance company will pay the balance.
In his case is 20%

If dont want such thing also can, your policy premium will be much higher lah..