Hi Guys,

my sister receive a post mail from Allianz Insurance
say that Notification of Amendment Enhanced medicover hospitalisation and surgical insurance (unit cancellation supplementary contract)

her medical card plan is 150.

Current plan
Overall lifetime limit : 850,000
Total Half yearly premium : 1,020.00
Total Annual COI : 498.20

New plan
Overall lifetime limit : 1,050,000
Total Half yearly premium : 1,164.00 (Recommended)
Total Annual COI : 747.30

Question : If sister wanna remain the old plan. Is it possible with old premium price

Or she have to downgrade her plan ?

the mail got mention "We Strongly recommend that you revise your premium to the suggested new total half yearly premium to ensure your policy is sustainable"
is that mean we got option to stay on the old plan ?

** understand now medical fee is expensive, but she have budget issue.


Thanks.

This post has been edited by dragonteoh: Aug 13 2017, 04:02 PM

It is not mandatory, it is an option.

Just let your agent know that you wish to maintain. It will also be a good practice to check your actual cash value against the projected amount based on the Sales Illustration.

Best,
Jiansheng (Allianz Agent)

ur better upgrade now during the offer period
if u upgrade during non offer period, during the transition period, if u admit to hospital, u will follow back old medical plan limit.
worst case if really serious then they will reject to cover for the particular sickness under the new plan

Holocene & MNet,

Thanks for your reply. I will let the owner know.

I have some question to ask regarding Insurance agent. I have read previous pages but couldn't find it

Is it recommended for me to take insurance with someone that I know or through an agent that approached me? I have 3 close friends that are currently doing full time as insurance agent.

I'm still new in this. Sorry for this noob question.

This post has been edited by xpole: Aug 14 2017, 10:00 PM

When it comes to insurance, you would want to make sure your agent proposal is not biased and is not just selling you a policy so you can support them because they are your friend. And then 5 years later looking back at the policy you bought and found out it was not something you had in mind.

You would want an agent who can give you professional advise that is independent and not just thinking about his own commission only when he's proposing a plan for you. The agent will also spend time to make a proper analysis based on what you want to achieve and make sure what can be achieved and what can't be achieved with the insurance Plan.

Whether it's a stranger or close friend, you make the choice as a life planner will stick with you through your lifetime to really take care of your financial needs as you progress in different stages in your life.

I see. Thanks a lot for the info.

I am paying for past 6 years with both me and my wife under GE approx rm5k for ILP with waiver benefits..

total sum assured is rm80K but medical card is value is not much believe its 100k lifetime limit..

Any better plans for me to upgrade or switch to another provider ?

thanks

You're welcome

Probably you can check with your agent to see if you can upgrade the existing coverage?

This post has been edited by lifebalance: Aug 14 2017, 10:20 PM

This case you have to be wise.
First ask around your friend see if they can provide what seem logic to you.
If not then move on.

Sometimes you may think better I choose what I need and go shop for best price.
Hardly work, cause:
1) You may not know how to plan financial, in reality how much is needed to support who? what? when?
2) Best price, you are not known to insurance pricing, what IF 3 of your friend also quote what the highest premium from their company?
So in this case you may choose from the least EXPENSIVE plan.

*After what they propose, always ask yourself how you want to spent the sum assured when something happen, is it enough? How long can it last?

Just buy from any of them you should be fine.

If I were you, I'd go with someone at least 3 years into the business

I disagree.
Years of service not always equal to service/knowledge level.

I met a UM who doesn't know what term life is, ask back the client some more.

the best agents are the ones that you can't guess how long he's been in the industry. you may think that he has 10 year industry, but turns out he only has 3, which means he knows his job really well

Agree, but this kind of agent is rare.
Anyone on the field know how typical agent handle prospect, sad for the market.

The current plants have removed the lifetime limit, so you can say that there are better plans, but really we don't have the full details of your policy etc. It's best to sit down with your agent and do a proper policy review, see where your current protection is, and discuss what's best for your situation.

Hope this helps.

Cheers.

as long as you are comfortable to deal with the person and trust the person, its ok. or u can approach all then decide again.

have to check your policy to confirm again. of course there are options to upgrade/switch provider.

I'm not here to debate on the profile/criteria of a "best agent". It's really a waste of my time, your time, etc.

xpole had a question: "which of my 3 good friends should I buy from?"

Now here are my assumptions:
1) xpole is not an idiot.
2) his 3 good friends are adequately knowledgeable
3) his problem is more of managing expectations of his 3 good friends.

Long story short, you can have a very knowledgeable, analytical new agent.. but he can't survive in the industry. What's the use?
You can have a product pusher, or what we call a fool, to bug you every now on then on yet another product. Slightly better than the first.
Or you can have someone adequately knowledgeable and stood the test of time in the industry, making a living and a career out of it.

Your statement is as if you disagreed that China is full of Chinese because you saw a black person born and raised in China.

Dear xpole,

You can refer to the replies above on your question but if you want a simplified answer, here it is.

When looking for an agent, look for the following qualities:

- Integrity
- Sincerity
- Professional
- Passionate

All the replies above are referring to these qualities, one way or another. Perhaps you can decide which friend to go with based on who embodies these qualities the most.

Best,
Jiansheng

Can anyone shed some light why during admission with AIA Regular Med Plan 250 card, the patient still need to submit a 30k deposit in cash to the hospital before admission? Panel hospital and doctor. Any reason for this?

Maybe you can please describe further the scenario?

1. The type of admission, eg accidental or illness?

2. Time of admission (during office hour or off working hours or during Public Holiday?)

3. After the next working day, was the client being refunded of the deposit after the GL is approved?

4. How long has the medical card been in force?