I'm sorry to say this is the decision coming from the insurance company.

Which is why aviation companies have special insurance for their pilot which they will have to pay a huge premium to insure their pilot just in case of any accident.

Want life protection? Find insurance
Want earn money through investment? Find legit broker

Your assumption is based on 6% return, if market drop like hell and need 2 years to recover, you can't stop and still need to pump money regardless untung or rugi

Btw, do 32k life or TPD is enough to cover you?

But in this case the prospek is doing it as hobby, not as profession.

A full time diver instructors can't buy PA, but those who five as a hobby still can buy right?

I think some excursion might occur.
Hv to ask UW.

If you really want to know the underwriting decision then you will need to submit the application form for the underwriter to consider as you will need to fill up the aviation questionnaire and also your flight activities throughout the years for the underwriter to consider whether to give exclusion on accidental death while during flying but to cover other normal PA while on ground as standard.

This post has been edited by lifebalance: Jul 27 2017, 10:37 AM

Yes you are absolutely spot on as generally PA (view from the General Insurance POV) does not need to declare the hobby and even without declaration of the hobby, it is understood that private flying it is explicitly excluded.

If you are able to get substantial members from that club to sign up or rather make it a mandatory for them to get protected, then it may be possible to arrange a group insurance policy.

There is also an option for high risk group cover, if there is numbers.

If the numbers is small, then the insurer may not want to go thru the hassle of drafting the policy for just a handful of individuals.

You may discuss with the club members on this.

With regards to the sum insured, do propose a higher sum insured, as RM100k can barely last 2'years .

Agents, pm me quotation for medical card insurance for kids year 4 boy and 7 girl respectively.

This is an interesting case study for everyone here hence I will share with you all on what I have received from my end.

Allianz will be able to provide the PA cover to the pilots on condition that Allianz also covers all the aircraft hull risk (assuming everything is satisfactory to Allianz's SOP).

This case will also be referred to the group's aviation team in UK.

Given the rarity of such request in Malaysia, I will not be able to share with you what the premiums will be as of now until we have something concrete from your end.

But with that said, I would think it will be an amazing opportunity for your entire club if they are able to get a PA cover for their flying activities. You might be that one guy that sets the precedent for all of the flying club in Malaysia!

Special thanks to ipohmali70 for his inquiry.

Best,
Jiansheng

This post has been edited by Holocene: Jul 28 2017, 07:22 PM

How much would an insurance agent get for each successful inception of ILP-insurance?

You looking to be a partime agent? If so just be aware of the new rules & regulations that are being imposed by bank negara. The KPI for an agent to maintain his/her contract is increasing and part timers might find it challenging to meet them. To know about the commission structure please refer to your recruiter.

Best,
Jiansheng

i guess is 70% of the total premium that is basis only.
if u hit target u earn more.

To further clarify, the question is assuming i plan to go solo, (i.e. not attached to any insurance co-operations), and doing it full-time. I'd assume you'd get the % as per the commission stated in the ILP brochure? like 65% on the first year, and decreases over time. Would I be paid once the client paid the premium, or so long as insurance is incepted, I get the % for the annual?

What is stated in the brochures are hardly commissions given to agents, it also includes other operational cost. I wished I got 65% on the first year 😢. Alas I don't.

Depending on the product your clients sign, commissions are paid differently.

Remember, there are also guidelines on "rebates" agents are allowed to provide to their clients.

Best,
Jiansheng

P/S: I only speak for Allianz agents.

u need to join a company. can't be sell solo

You need to join a agency to start selling. Can't solo.
The % vary depend on what product you sell, no fix like 65% or so.

To make a living on insurance is by years of accumulating commission.
Unless you got single premium from business man or fitly rich client then you got huge commission.

You can't do solo unless you open ur own insurance company. Then all the commission will belong to you.

The updated proposal looks correct. Most important is, if that is the max u can afford and you trust the agent, no problem going ahead. Cant do much with that budget. Only you urself know what suits your needs.

Yeah u r right on the exclusion part. It still comes down to final decision of underwriter though. Hope you get the coverage that you want!

Hi sifus,

Would appreciate kind advise on my situation

Male, 48 years old, non smoker, class 1 occupation

Current plan:
Prudential medical card participating
Board RM150
Annual limit: 50k
Lifetime limit: 1 mil
Deductible: RM300

Life: 50k
CI: 40k (early crisis defender) , 40k (late stage)

Current premium: RM290

I was offered to upgrade to no lifetime limit, annual limit of 1 mil and others remains the same with additional payment of RM110 (up to 80 years old) and another option to 70 years old at RM80.

My question is that any difference between 70 and 80 years limit besides the cost? Any input would be appreciated.

Thank you in advance.

You're basically doing a top up on your policy to ensure your policy is able to sustain until 80 years old with that additional funding

Which may or may not depending on the fund performance return as well as increasing cost of insurance in the near future.

There is no difference besides the cost for age 70 and 80.

Just take it. Up to age 80.

Thanks Jiuhwei for the prompt advise.

You mean that even if I choose the plan up to 70 years, which I can save RM30/month, it's still better than the plan up to 80 years old?