in a way you can make it that way though. end of the day it still depends on your comfortable budget first then from there see what's the best you can get.

yes you can change agent but commission will still remains with the agent serving you currently. no commission will be given to the new agent that you change to.

thanks for the info.
will think thru

This post has been edited by scoop7: Jun 2 2017, 11:59 AM

Fixed deposit. I'm not kidding. Agents here might disagree but going for savings product, short term, usually not that great.

I am assuming 15-20 years.

thanks for the info.
will think thru

This post has been edited by scoop7: Jun 2 2017, 11:59 AM

I might, sound like a broken record and against majority in this thread, but why not consider actual investment instead of insurance?

Back to your original question, there are plans that fulfill what you expect.

Example pay for x years, maybe get money after y years for z years.

x <= y. z depending on the design by the insurance company. The issue is insurance companies can only give better guaranteed return if the policy is longer term. 25 and above or something.

Then what if i tell you, over 20 years, depending again on what the insurance company can offer, the guaranteed return is probably 2-3%, total return which is not guaranteed is about 5-6%, are you still interested but you will definitely enjoy insurance coverage (but on the life of the child).

Hi bro

Let's crunch some numbers and some factors before we jump guns about investment especially for our child education.

1. Would you risk your child education fund on risky investment whereby in between from year 1 to 18, the fund can suddenly disappear totally
2. Would you want atleast something better return than FD or guarantee your child education if anything happens to you?

There are ways you can go about it.
1. Opt for education plan which you are also entitle to income tax return
2. Opt for a protection plan which covers you and do occasional top

Let's work out how much an average degree in the future will cost like.
Taking into consideration a year degree in malaysia between RM47,000 to RM100k,

https://www.google.com/url?sa=t&source=web&...oN06PmnffbTMesg

That's the current rate, let's assume your child start from age 0 to 18 now. The inflation of 6%, let's take the average figure about RM60k per year. Your child education per year would cost RM171, 260 per instead. Calculate another 3 years course would lead to RM523,723 in total.

Let's work some math
FD
3%, 300/mth, 18 years will work out RM85,996

Education plan
5% average non guaranteed
300/mth, 18 years will work out RM105,197

You get an extra 20k, yes like all investment, there are risk, if you can't accept risk then put into FD and allow inflation to kill ur money

You'll still be short of 420k and you may use other investment to cover all the figure.

Another method would be to opt for a protection plan for RM500k to cover and guarantee your child education while you're no longer here. And you won't need to worry about child education anymore. While still enjoying certain savings albeit lower than a education plan.

I am happy to share you more on Insurance planning, feel free to ask me.

This post has been edited by lifebalance: Jun 2 2017, 09:24 AM

Hi

Need some advice
I have life insurance since few years ago
Recently i bought a house, hence bought another life/TPD insurance under MRTA

So i need a standalone affordable medical card
I knew the importance of medical insurance
Now even more since i have made my biggest commitment ie house purchasing

Kindly advise
Many thanks

Hi,

My concern is about the same as the op above me, so I bought Sunlife SaveAssured 2 years ago when I was 22.
The insurance basically covered Death, TPD and savings. with RM100 every month, getting back roughly RM62000 30 years later. This is what I understand from the policy book, anyone with more information please share.

So this policy don have a medical card and critical illness coverage (i think).

So should I get a standalone medical card or change my policy to the one that covers all (eg, GE insurance, from what I've been told, its a 5 star policy??)

What would be the pros and cons? Please advice, Thank you

Seems a bit quiet today.



I think you'll be getting a better response if you can let us know what kind of advice you are seeking

I don't think you can actually change your saving plan into a medical/life policy. Perhaps you should meet up with your Sunlife agent and have a chat. A review is always good.

If you are financially constrained a standalone medical should be able to serve your needs for now. All major Life Insurance company do carry them.

Best,
Jiansheng

If you haven't got yourself any medical coverage then it's advisable to get a medical card for yourself whether it's based on investment link or as a standalone

Medical cards comes with atleast annual limit 1 mil

Medical cost are not cheap nowadays with atleast 10 to 15% inflation rate on it.

You may refer to the link below for reference

https://www.aia.com.my/content/dam/my/en/do..._MedBooster.pdf

Hi

Seems like you bought yourself a protection plan without any medical coverage

If you still haven't have any coverage for medical then it's advisable to get one for yourself with the high medical cost nowadays, we can't really afford to get sick or into accidents which will burn a hole in our pocket..

Medical comes with 1 mil annual limit nowadays

You may refer to the link below for reference

https://www.aia.com.my/content/dam/my/en/do..._MedBooster.pdf

of course the most suitable for your situation now is to get 1 comprehensive plan to cover your housing loan and medical insurance. since you have MRTA to protect your house loan and an additional life insurance you got before that, get a plan that provides you the medical fund will do.

if budget allows, see whether can get a plan that can consolidate your life insurance plan (few years ago) into a life insurance + medical plan or not. else, just look into standalone medical insurance.

this one need further one to one discussion better so you can voice our your concern. cannot really give a proper advise here.

how old is your kid this year? and how much do you plan to have for your kid's tertiary studies?

Is this worthwhile?
https://www.imoney.my/medical-insurance/hon...dglobal-iv-plus

Standalone medical card, not ILP, with no residual value, and no TPD/CI

Get the detailed quotation then only you can do a comparison between ILP products. Most of the time there are difference in coverage.

Best,
Jiansheng

If you feel that it's within ur budget and fit ur requirement then just buy only.

Usually, the minimum price for ILP would be 150/month. Whereas the link I provided was meant for medical only, which comes up to RM800/year, which is about RM70/month. Though no residual value, i do think that it is more worthwhile as I can use the difference for other investment opportunities and/or other disposable income.

ILP150 : RM/150/month = RM1,800/year
StandAlone : RM66/month = RM800/year (based on the MedGlobal 150 coverage)

Difference/year = RM1,800 - RM800 = RM1,000

In my earlier post, I meant to emphasize that this is a standalone card (and not ILP), and do acknowledge the difference in coverage.

Hi mktan78,

Just curious, which medical insurance have you bought? I am having the old Prudential PruHealth Med insurance, I am comparing getting an upgrade to PruValue Med or getting standalone medical card.

The Great Eastern medical plans look cheaper than Prudential, but there are so many plans to choose
https://www.greateasternlife.com/my/en/pers...alth-protection

Thanks!

All this cost you're trying to save, you'll need to end up being discipline in investing that money to pay for any future higher cost of insurance to incur in the near future.

As I've mentioned somewhere in another post

You can compare another 1 which is a little more simplified.

https://www.aia.com.my/content/dam/my/en/do...Med_Regular.pdf
+
https://www.aia.com.my/content/dam/my/en/do..._MedBooster.pdf

Thanks lifebalance.

The pricing for GE & AIA are quite similar, somehow I think the Prudential pricing is much higher (Prudential don't have standalone med plan).

I have been comparing the med insurance for almost one month plus...still no conclusion yet

Need to plan all over again, because paying too many policies
1) GE whole life (own policy) - 1st policy, after start working
2) GE whole life with some hospital/room rider (own policy) - colleague selling, give support
3) GE investment link (own policy) - bought this to pay the outstanding housing loan (in case I 'tapau')
4) Allianz PA (own policy) - cheap with huge coverage
5) Prudential 10 years term with CI/TPD (own policy) - cannot remember why buying this one...I think I 'kiasi' during that time
6) Prudential investment link with PruHealth Med (own policy) - need to get medical card insurance
7) MAA (Zurich) whole life (wife policy) - colleague selling, give support
8) GE whole life with some hospital/room rider (wife policy) - colleague selling, give support
9) Prudential investment link with PruHealth Med (wife policy) - need to get medical card insurance for family member
10) GE education endowment (daughter policy) - old schoolmate selling, give support
11) Prudential investment link with PruHealth Med (daughter policy) - need to get medical card insurance for family member
12) Prudential investment link with PruHealth Med (younger daughter policy) - need to get medical card insurance for family member

This post has been edited by clickNsnap: Jun 4 2017, 11:13 PM

Honestly in my opinion, better to sit down with a proper life planner to go through all the figures with you and then from there you'll get a bigger picture of it and make a better decision. Not because of "colleague", then you buy to support.

Noted, paying those premiums over the past 10-20 years were quite a big sum... still need to pay for another 20-30 years , really need to sit down and discuss with a financial planner

This post has been edited by clickNsnap: Jun 4 2017, 11:35 PM