As far as AIA's procedure that I know of.

The 3k can be claim under the personal insurance.

With regards to the 2nd scenario.

only 500 can be claim as the RM2000 is already claimed under the company insurance.

Submit the original bill and claim form together will do. Provide the copy of the receipt paid by the company insurance as well.

Thanks for quick reply. Will ask my friend to submit the original bill and orignal receipt liaise with his personal insurance agent.
TQTQ

Hi all, am new to the insurance world and would like to seek your advice:

i was advised to go for the below coverage:

1. RM300k on CI, TPD and death, renewable up to 80 y/o
2. RM300k on Accidental CI, TPD and death, renewable up to 80 y/o
3. Medical card - covers up to RM1 mil annually and RM150 room and board

And was told to avoid investment-linked products as the money is better off invested on your own.

Is the above coverage comprehensive enough, my purpose is to buy the best value for money insurance. Also, i notice that we can buy insurance via FSM with 30% discount on agent earned commission. What is your opinion on this offer, how is buying via FSM different from buying from regular agent)

I am single male, 31 y/o, non smoker and work in the office

Thanks to advise

There is no best value insurance, all plan have their strength.
It's all down to what you need.

Example, why you need 300k cover on CI?

1 Mil medical is very common, everywhere can obtain.

Suggest you sit down with a agent to plan forward.
A life plan comes with several type and pricing.

Just like a car have 5 seats, but there are thousand of 5 seater come in different specs and price.

Hi thlo87

I can't really advise on what you should get as I don't know you personally. Doing a proper financial health check is important.

With regards to whether to avoid investment link products at all, I don't know where did you get that idea from.

Here are some of the benefits of taking investment link policies

1. If you are young, your premium will generally be quite cheap and you can cover death, TPD, critical illness at one go.
2. Unlike term insurance, you don't have to worry about the expiration of term coverage.
You can leverage on the time value of money and your savings will grow even after you finish paying the premium
3. You don't have to worry about how to invest and just leave your money to grow moderately.

Whether you prefer to buy an insurance without an agent or with an agent, it's solely up to you to decide.

If you do decide to go with term insurance, make sure that whatever difference you have saved from buying an investment link policy is being re-invested to cope with the increasing premium as you grow older.

An individual insurance needs changes from time to time and having an agent to advise you and provide the professional service is important based on feedback.

I won't comment about your coverage because that's ultimately up to your discussion with an agent to assess your risk exposure.

If you ask what's the difference between buying from an agent vs FSM, well for medical wise it seems they only have Zurich, Manulife & Hong Leong Assurance. Based on what I see is. But jokes aside, perhaps having an agent will help you with planning for an insurance coverage plan and most importantly if there happens to be any claim complication a good agent will help you by navigating the treacherous waters of TERMS & CONDITIONS.

As for term life, as of 1st Jul, I believe you can get the life cover from Insurance companies themselves. The premium seems to be more or less the same. Have to be competitive mah 😂

Also, the fact that you are on this thread proves the value of a professional insurance agent. I guess 🤓

Best,
Jiansheng

Hi sifu, i'm new about inaurance...wanted to buy but always give self excuse. I'm 32 now.

Was approached by an agent from AmMetLife.

He offered a plan named AmMetLife LifeStyle.

Up to 80y/o
$150/months = $1800 a year
got covered $1mil medical card
36 diseases/Critical Illness $90k
And the amount make monthly entitled averagely 6% p.a. return.
At the end, all amount made +6%p.a. can be withdrawn.

I have no insurance thinking that this might be good and affordable as saving for future old time.

Anyone have adverse feedback on this plan, pls share your thought. Appreciate

Hey fairylord,

I assumed he has gone through and discuss with you on your risk exposure to come up with the following proposal as you have shared above.

If he has and you agree then perhaps that's the best way to go. Pricing wise, seems to be very very very cheap.

My advise to you, get the full sales illustration and read it thoroughly.

Best,
Jiansheng

Hi

Insurance plan provides multiple area of coverage which entails of

1) Protection
2) Savings for Retirement
3) Critical Illness
4) Medical Card

You can have an option which covers all of these if budget is enough.

If you've not have an insurance before this then it's always important to get a Medical Card first to cover for any arising healthcare cost, followed by Protection & Critical Illness as income replacement.

It should come about the budget of RM150 - RM200/mthly.

It is always proper to speak to a life planner to understand your need as what I've mentioned above is purely general without analyzing your financial background at all.

The main question is not about the pricing but the protection.
What made you think 90k coverage work best for you.

If touch wood you kena critical illness how would you spend the 90k?

Thanks all.
The person just walk in and talk about it.
I have not much details besides of the mentioned.
I am not sure if 90k sufficient as have little knowledge on this.
But 150 amonth is affordable and comfortable to my capasity, but whether the value of the plan is worth, i guess JianSheng have given a though.


Thanks for all advice.
I have 2 sheets a booklet given by him. Enclosed the 2 sheet for further advice. Ignore the details of insured person as that is a sample the person used to explain and i request to keep for study.


Appreciate a lot.


Attached thumbnail(s)

If you feel that RM150 is the amount that you can afford to pay for now then go ahead with the plan.

Do insist on getting the actual Full Sales Quote in PDF format for your own reference.

You're 32 and what you given to us is for a 16 yo girl and my neck hurts!

The documents given to you has no information in regards to your medical and CI insurance.

Earlier you mentioned that you are provided with 1million cover, is that annual or lifetime? This is another portion of the plan that you should look into.

The cash value will differ base on the sex, age and occupation hence the document you have would not be useful for you in anyway.

Best,
Jiansheng

Hi guys, thinking to get medical insurance for my parent so thought that I would get some advises from the forumers here as well.

1. My father is 60 next birthday and he is a smoker. How difficult or how expensive it will be to get him insured?

2. My mother is 51 next birthday and is healthy currently. What is the range of cost should I be expecting?

Thank you for your advices in advance!

1) so long he has no health complications then it should be fairly easy.

Premium can range from 300 - 1000 per month depends on the package you select. This is ILP since I only do ILP. Standalone you wait the experts reply you.

Best,
Jiansheng

Since their age are quite advance, getting an ILP will be very expensive

Would suggest you to take standalone medical card if you're on a budget. Which is about 150 - 300 monthly for your parents age.

Hi,


Is it true that the premium for investment-linked medical card will remains more or less the same when you age? Compare to traditional standalone medical card where you have to pay like 10k per year when you are 70s?

That's true given the following scenarios:

1) The return on the fund is consistent and makes good return when you get it while young and healthy;

2) The COI does not have a major increase over the years.

Best,
Jiansheng

The premium for the investment link is fixed upon inception of the policy meaning to say it will remain constant throughout the policy lifetime

However Cost of insurance might increase in the future which may require you to do some top up into your investment link policy in the future.

The investment gained by the insurance company is used to pay off future higher cost of insurance in an investment linked policy which is why it can remain as constant premium

Whereas a term insurance has no investment element which is why you are forking out a higher premium amount in the future because there is no investment cash value such as an investment link policy to cover your future cost of insurance.

This post has been edited by lifebalance: Jul 22 2017, 06:04 PM