Seems like it.

That's a good profit to the agent haha

Sounds a bit weird on why bother to put the table to show 7 years if it's charged yearly until the end of the policy term.

This post has been edited by lifebalance: Jun 9 2017, 12:24 AM

Thats the thing..

I was caught by surprise when I read it...

Any MCIS agent can clarify????

Moral of the story, MCIS agent earn more than other agents... and ... MCIS customers pay more unnecessarily

This post has been edited by ganaesan: Jun 9 2017, 12:41 AM

Hmm, can you share the name of the plan?

actually, following bank negara guideline strictly, if it's yearly renewable standalone policy, insurer supposed to charge 15% per year.

anyway, i would highlight is, commission is governed by bank negara. So don't worry.

That is General Insurance commission. It is yearly as long as you are paying the premiums. Life Insurance will be higher amount of commission but its on a reducing term. For GI used to be 25% per year previously.

That's an interesting spot you've put me.

Seeing that I do not represent AIA or Prudential, perhaps you would be better off getting their respective agents to make their case and decide from there.

Or read the commentary from the link that I've provided earlier.

Best,
Jiansheng.

Uh MCIS hotline is 1 dial away, you'll probably get an answer faster that way. I don't see any MCIS agent in here before.

I tot u from insurance line, just want know your view or opinions on these two plan.

My view will cost you an hour of your time and a plate of chicken rice.

But all jokes aside, no agent will publicly give their view about the competitors product.

Again, if all you are concern is about product then you're better off looking for an Independent Financial Advisor. I have been told by a prospect that they can be quite good with their comparisons. The prospect however did not choose either of the companies you've mentioned.

Best,
Jiansheng

allianz medical is cheaper

how much is ur monthly salary?
need to take consideration into this bro

Question for all insurance agents from different companies. If you lose your original policy document and request for a another copy (either softcopy or hardcopy) does your company charge your customers for it?

I know for a fact that Prudential does. And they even need you to sign a public notary form to say that you lost it before they can even give you a copy. SO.TROUBLESOME.

You can request for another copy

If it's a hard copy you need to pay RM10 for a reprint, otherwise softcover is free if I'm not mistaken.

Hi guys, just a little curious bout insurance.

IF I want a life insurance policy that payouts a minimum of MYR 1 mil upon death / accident / similar, what is the expected rate of premium per annum?

And would it be possible to pair the life insurance with another insurance ( Medical or similar ) for critical illness or similar sort of conditions?

If age matters, below 30, healthy as a fiddle according latest medical checkup. I'm a paper pusher in office, so no risk of being involved in workplace accident if that matters.

Apologies if my question seems very broad. I have yet to do my studies on insurance except for mortgages

This post has been edited by chiahau: Jun 12 2017, 01:45 PM

Lol you've finally came to ask about insurance rather than dealing with just mortgage.

The rates depends on your age, gender, occupation and also whether you smoke or not.

And yes you can pair it with medical card or critical illness benefit depending on the amount you want to cover it will dictate your premium. You'll have to decide on how much you want to cover for your critical illness amount and what room and Board and the annual limit you're looking for in the Medical Card.

Age : Below 30
Gender : Obvious
Occupation : Kuli / Consultant
Smoke : Never

Am roughly looking for the following :-

Life - MYR 1,000,000.00 coverage minimum.

Medical - CI MYR 1,000,000.00 ( Is that normal? ). Annual Limit I am not sure as my parents are gomen servant. Status Quo for now since I can get medical care in hospitals for very low rate. Perhaps you can give a general recommendation on that.

I'll give you an estimate about RM400 - 1000 monthly

This post has been edited by lifebalance: Jun 12 2017, 02:24 PM

For critical illness, my pov la, since i have been through 2 relatives who kena but they both didn't buy.

At this point in time, i feel 1 million is alot la. Hospitalisation aside, the cost comes from the long term nursing care instead. Also example, if say cancer chemo, actually all these would be covered under medical card. If someone kena stroke, cost of hosp is not as high compared to soneone doing chemo, but long term care is more demanding, etc. Just stating a few of my personal experience. (Lung cancer and stroke)

To answer your question, 1mil for critical illness is not normal, probably cause it's too expensive and ppl may not afford it. Early critical illness cover while more expensive actually covers diseases you can claim. The normal critical illness cover, is like the person already one feet in the casket, then only can claim. I am not qualified to provide recommendation on amount but try to maybe get quotes from agents, compare the cost if you lower down the ci amount. Unsure of your budget and affordability, i think you won't really buy the policy once you know how mch 1mil ci cover costs.

Also, instead of thinking buying 1mil sum assured, try to reverse and calculate, example, how much will hospital treatment cost? Helpers? Nursing? Physio? 5k a month, is it enough for rehab?

Hi chiahau,

my reply as per above. by the way the CI you meant is referring to medical coverage needed to treat CI? or a lump sum payout to replace your income?

Actually, my intentions were never for the CI insurance payout to be used for the treatments and rehabilitations per say.

I plan to claim it to discharge all, if not most of whatever's left of my properties under encumbrance and what's left of the money for me to enjoy what little time I have left on this planet.

I believe I need to kick the bucket literally ( touch wood ) to claim the life insurance right? I can claim the CI 1st while enjoying what's left of my time?

Replace income / Settle debts / Enjoy life before kaput.

Haha. interesting point of view. if that's the case, then it makes sense. Just FYI. there are 2 types of CI cover that MAY be available, subject to the company, but things aren't always as flexible as you want them to be.

You can opt for accelerating CI cover. Example: Death/TPD: 2mil, CI 500k. In this case, if kena CI, get 500. Then die, then get the balance which is 2mil - 500k. 1.5mil.

Or you pay a bit more you will get the additional amount. Ie, CI get 500k, Death/TPD get 2mil. Note, obviously the one above is cheaper la. depends on what you want.

Add-on: I played around, assuming 30 y/o non-smoker, RM400-500 per month do-able for investment-linked policy (1mil death, 1mil CI and considering my company is charges are not cheap) but 20-30 years down the road, the policy may not have enough money to cover the cost. but by then, i think your debts would be lower, and well, things will change then, mana tahu.

interesting point of view that no one I've met came up with this yet on discharging all the properties under encumbrance.

Well you can almost safe to say that if you can claim for Critical Illness, there is almost a high chance you'll kick the bucket soon after you made the claim.