Welcome to the new 2017 Insurance discussion thread Version 4.00

Created Date: 17th Feb 2017

If you have any questions on insurance, just ask the experts in this thread!

>>> Link to Insurance Talk V3!

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This post has been edited by roystevenung: Feb 19 2017, 02:53 PM

Finally 😀

Congrats on the new version.

No link to old threats?

Link to Insurance Talk V3

thanks Roy and other contributors!
didn't expect by name in the list too

This post has been edited by spreeeee: Feb 20 2017, 02:37 PM

Any Great Eastern agent here, can quote me a medical plan for following profile

37
Male
Non-Smoker

checking in!
I'm a cheapo here trying to build my own medical card by taking "just" medical card without investment link.
Found a "problem":- there's no standalone critical illness cover. So basically if one day i'm worried about critical illness, I'll need to find an investment link.

Also I have the chance to look at ILP vs non-ILP products premium. the exact same cover cost more for non-ILP. WTF!

Well most companies are moving towards ILP. The risk is that there is investment risk that your account value will be 0 before the projected tenure.

On the other hand the non ILP guarantees that you will be covered of that sum assured amount without worrying about any investment risk but don't expect any cash value return by end of the tenure.

Choice is yours to decide

Yes, it costs more now. 2-3 times more.
One way you can see it is the nett costs in the long term. You'll see that you actually paid less, with more coverage (life sum insured).
The other way you can look into it for a more detailed approach is to look into the medical insurance cost between standalone and ILP (COI).
I trust that you will find the COI for ILP is actually lower compared to standalone medical insurance. This is consistent across the industry.

So to sum up,
ILP covers more, the medical coverage costs you less, and it has the flexibility for you to add on CI coverage and many other riders.
Standalone sets you back less for now but the COI is higher, and it is not flexible.

Let me know if this has been clear and helped you in your decision.

Then it must have been a mistake that cheque of RM758k that I paid out to my leader's policy holder of over 20 years.

ILP has its merits, and the industry has made it very attractive at the price point.
The price for all of us to pay is taking on some of the risks involved.

However, if you have money, you must be crazy to deny traditional life policies.

This post has been edited by JIUHWEI: Feb 21 2017, 10:43 AM

There are some traditional policies in the past which participate in profit. So it depends on the product feature as well at that time

Bro, the same policies still exist right now...

Yes, ILP is a great structure, transparent, cost-coverage is amazing.

Maybe pay a bit more attention, put in a bit more necessary effort, get things right, and practice the ethics that you sometimes preach here for no reason?

I didn't even say that there is no product right now that doesn't participate in profit.

The main question that the person was asking was ILP vs non ILP.

I didn't say either one is better than another but laying out the pros and cons. What is the point you're trying to make?

Yes, if you want critical illness coverage, your options will generally be a traditional plan, or an investment linked plan.

Regarding your comment about the premium, it's hard to comment without looking at the specific details of the plans to compare.

Cheers,
Matt

sure. what is your budget?

can anyone suggest me, in neutral POV:

1) Which is better, insurance or takaful? I did my homework, I'm more towards takaful, however i would like to get others POV as well.
2) I'm looking for Life+Medical+Health+Critical Illness (like an all-in-one plan), with budget 300/month, is there anything like this?

My info:
1) 28 y.o. (will be 29 on Sept)
2) Non smoker
3) Male
4) Income: approx 60k annually

This post has been edited by KaD1GO: Feb 21 2017, 04:36 PM

Hi, KaD1GO,

Yes, it's definitely possible get a plan like you've described for RM300/month. May I also know your occupation type? e.g. Accountant, Doctor, etc.

Cheers,
Matt

I work as Network Administrator, IT

Hi bro

For you, Takaful is compulsory if you're Muslim. Opting for a conventional policy is a no no because of the Muslim distribution under faraid which conventional policy will not be able to help you pass 100% to the person you wish to gift.

You may consult your local life planner to get a professional advise.

Just had a look at GE's investment linked plan's cost structure. Dammit they're creaming ~5k off me over 6yrs!
Anyone know some company that doesn't cream that much off my bottom line? (don't spam names only - show me some figure. )

What benefits were provided?

medical card && critical illness rider.

Sum insured and limit?

ugpm for spirited debate

Depends on ur age, occupation, gender and whether you smoke

Perhaps you can provide me these info go check for you with some info of your current policy as there is no head or tail

i do know some muslims who opt for conventional policies

The life planner needs to educate them on the key difference between Takaful and conventional policies and shouldn't sell them a policy that goes against their religious practice.

looking for a life insurance.
42yo
non-smoker
office worker

looking for a payout of 500k ~ 1mio
dont want investment/saving linked.

Why not investment linked?

just need insurance.

hi all sifu,

need some advice
my mum bought from this MXM
underwrite by pacific insurance
The HOD have leave and join pbbank which now partner with mxm for next medical plan
now mxm very aggressive ask to upgrade to Lonpac insurance
say a lot existing pacific customer have upgrade

so my worry is if there are medical condition currently
what if after the upgrade then the lonpac only say cant claim.

If I choose to stay can they corporate agency simply terminate the policy?
or they need to be responsible to cover for their customer ?
or my mum can straightly deal with pacific for renewal?

pls advice

as far as I know MXM is like a MLM company selling life insurance with LonPac, there used to be a die-hard ambassador in here but I think he's no longer contributing to this thread after I exposed him.

Any upgrade on existing policies will require medical underwriting if there is any pre-existing illness. So if your mom is already above certain age or has any pre-existing illness, she'll need to declare it to the insurance company.

Now why are they asking you to upgrade in the first place ?



With this regards, since you've bought from their company, it's best to call their company up and clarify what you've signed up previously.

The insurance is an offer and acceptance process, meaning you apply and the insurer will offer (based on the known and acceptable risk).

Upon reviewing the proposal by the insurer it is ultimately up to you to whether accept the proposal or decline.

The same applies to upgrading. You need to fully declare any health condition that may impact how the policy is being underwrite.

Secondly for upgrading, there is no such thing as buy from company A, but upgrade with company B (unless B buys A).

For The Pacific Insurance, even though the plan is a standalone one, it is guaranteed to be renewed.

Any upgrade, it will have to go through Pacific Insurance and not Lonpac.

Suggest that you deal directly with Pacific Insurance if you want to upgrade.

Once they offer (due to the preexisting illness), you may decline if it is unfavorable for you to do so.

If you need contact person at Penang Pacific Insurance, I can email to you.

.

thanks all for your input
MXM is the corporate agent for pacific since 1998

so I think they wont simply terminate the policy
even thought MXM decided to pull out.
Give that my mom already over 60 yr old
there no point for her to upgrade to other co
anyone can confirm this?

asking to upgrade because it's company direction to sell only Lonpac new product
old product is insured by Pan Pacific.
is it ok to remain with pan pacific?
will pacific have right to terminate my mum medical card if mxm decided to pull out?
What right we have for protection?
Can Bank Negara advice on this ?

this is the lonpac upgrade form
to upgrade from previous pacific insurance

it didn't mention to declare any current medical condition
https://www.dropbox.com/s/85vpgqwaprq9vh6/a3.jpg?dl=0

can we ask lonpac to issue a guarantee letter?
or any advice

my friend just told me he just receive letter from pru that they are increasing medical insurance fees starting april...any news from aia, ge and others?

just heard rumours last year end bout this, looks like it turns out true

AIA sent out last november. I received it...

anyway, it's normal since to be fair, medical expenses has increased, claims have increased hence your premium has to increased. it was in the news (from social networking) that a few of them are doing it. allianz, aia, ge. i am sure there are others that was not shared or i missed out from the news.

if you sit down and calculate the cost, investment-linked is still a good option (easier to change Sum Assured, though other non-IL products still do-able but with t&c)

don't rule it out, but ensure you have all the options available from your agent. (ie. remember to ask your agent quote you a term life insurance, usually they don't sell this kind of product, so request specifically)

thanks, will do

Best for you to call up mxm or lon pac to clarify and make sure you read the black and white before signing any documents.

AIA was just before end of last year 2016. If you're a policy holder you will receive an internal mail posted to your mailing address Regards to this matter

oh i must have missed it

aia's one increase is effective january this year? or also april?

Hi, i am currently reviewing my policy...my policy details as follows;

Medical card - Annual Limit: 100k, Lifetime Limit: No
Critical Illness - Coverage: 100k
Critical Illness cum PA - Coverage: 30k

Monthly Premium: RM300

Is there any possibilities to have better coverage with the same amount of premium with latest policy offer?
Kindly PM your proposal to me, thanks.

Instead of getting a new proposal from strangers here, perhaps a better route for you to take is to revisit with your existing agent and explore an option to top up or to upgrade on your existing policy.

What do you think?

AIA's medical repricing is effective January 2017.
The affected portfolio are: Standalone medical policies sold and bought before 2013.

If you are among our affected policy holders, kindly contact your respective agent and ask them about two things:
1) a guaranteed issue offer (GIO)
2) medical repricing revised amount.

ILP portfolio are not affected.
Standalone medical policies sold and bought between 2013 till now are not affected.

Hi guys,

I am developing a mobile app specifically targeted to insurance agent & user (those who search for insurance).

The plan is to create a platform for user to get information about insurance and search for reliable insurance agent nearby them and according to their preference. As for the agents, they can make their information & location public so that it is easy for user to contact them and book an appointment.








Right now it is in beta stage and I had develop 2 version : for iphone & ipad.

If anyone would like to test the beta version, you can pm me your email & inform me which device you would like to test (ipad/iphone).

Thank you!

Best to get an agent to do a proper review for you if your agent is no longer active/in the business.

You can check out this site.

http://www.flanner2u.com/

Yes, basically similar but mobile experience & we have some additional features..

AIG insurance is a reliable brand in Malaysia ? They are offering injury guard policy where the policyholder can choose to include the coverage for their parents in the plan. The plans are for those who aged between 18 and 75 years old and cover can be extended to the age of 85. Here is the price plan : https://www.aig.my/campaigns/injuryguard/price-plan

However, there is some contradiction of the information between AIG official website and Ringgit Plus (https://ringgitplus.com/en/personal-accident-insurance/AIG-Injury-Guard.html)

In Ringgit Plus, the author highlighted that accidental death is not covered which is totally different as disclosed in the product brochure. (https://www.aig.my/content/dam/aig/apac/malaysia/documents/microsites/brochure-ig-oct16-eng.pdf)

What is your opinion on this type of insurance product ? Will you go for it ?

This post has been edited by FDInvestor: Mar 6 2017, 05:30 PM

It's basically a personal accident plan, best to follow the disclosure from AIG as Ringgit Plus is not representing AIG and information could be misleading if there is any typo, error.

Whether a plan is suitable or not will depend on how your current protection plan looks like.

When you notice contradictions, it's best to clarify. As always, it's the insurance company that will have the final say, so best to check with them for actual clarification. I'd trust the official website of the company more, though.

Hope this helps.

When in doubt, always refer to the official company website/brochure. If that doesn't help you can always get in touch with their agent/staff.

The particular product you've shared is a Personal Accident product, so to speak.

If you currently do not have any Personal Accident then perhaps it might suit your needs. With that said, always get in touch with a reputable agent to assist you in planning for your protection needs before committing to one.

Best,
Jiansheng

Hi all, I want to know what's the "meaning" of Conventional Critical illnesses plan, due to:

1) can only covered or payout compensation for "very critical stage" of illnesses such as cancer at stage 3.

2) for early stage illnesses (like cancer stage 1/2) the insurance holder still need to pay the premium until like forever?

3) as I know, 3rd stage of cancer is very gg already... what's the meaning of such coverage that can only be activated at very critical conditions?? Insurance holder still need to fork out money to pay the premium even though the buyer had already sick but without any insurance compensation at all???

Pros side:

1) surrender value ada in the future.
2) both of premium and surrender value is increasing according to longer time the holder still pay the insurance. But of course, the value cannot exceed simple investment products because CI is offering protection.

Contrast side:
1) surrender value? For what? The premium holder gonna surrender it during he/she is very old which means grater possibility of "get sick/die"???

2) CI offering protection?? With 0 compensation at early stage of illnesses=protection?? It sounds like PI that "only bayar" when insurance holder died or "dying aka nearly died"...

Lastly I just want to seek for opinion what's the meaning/point to keep such conventional CI plan? Everyone telling me this CI plan is best because insurance company do not selling such/similar plan anymore.

But I dislike the "3rd stage cancer" part so much... what's the meaning if insurance holder sick but "not too sick yet" and he/she still gonna pay the insurance premium until like forever?

This sounds kinda absurd in my shallow opinion, please enlightens me. Thanks and good night.

Hi heavensea,

Without looking at your policy in detail, I'd assume that the conventional critical illness plan you've mentioned are those older plans whereby they have a higher bonus/interest year on year on your cash value as compared to any of the investment linked plan today. Hence you hear people telling you that this the best plan.

However, you've got to ask yourself if the cash value/saving is the most important thing for your consideration when it comes to life insurance protection.

1 thing you should check out within your policy is also the survival period.

If you currently do not have a CI protection that covers early stage, you should get in touch with your agent to find out more.

And to address your last statement "... he/she still gonna pay the insurance premium until like forever?" Yes/No as per the term stated in your policy.

Best,
Jiansheng

P/s: off to sabah to meet my clients hence I'm awake now. On my way to airport. Haha

Thanks jiansheng, for your informative feedbacks.

- Yes it is the older plan that you mentioned.
- The insurance gonna pay until 85 years old.
- This plan isn't cover early stage at all, which means I've to pay it unless I'm diagnosed with stated "very critical illnesses"..
- I do not set my priority in such long term CI plan, because of it's unreasonable for an aging person to surrender it during he/she is very old (6x-7x years old), so the surrender value is a double edge sword which is useless imho.
- Early stage illnesses compensation is one of the "most useful" protection in CI plan, no?

About the survival period, my CI comes with "death benifits".
The survival period is 30 days, is it too long? (Many plans are 14 days)

Good luck with your meeting with clientele, flight well

This post has been edited by heavensea: Mar 7 2017, 04:44 AM

Early stage cover is indeed an attractive prospect since the road to recovery is always easier on the earlier stages of any sickness. This income replacement does alleviate the policy holder from day to day financial obligations.

Interesting, if so you should also check if your plan is an "accelerated" one.

To my knowledge, most late stage claims have a 30 day survival period. Early stage, Allianz is 7 days. However I haven't seen any 14 days survival period. Perhaps you can enlighten me on this.

Best,
Jiansheng

Hi, I got question regarding travel insurance. If, I being hospitalized during my journey what should I do?

If, the bill is small the easiest should be I pay first and claim it back when I arrived in Malaysia?

What should I do If the bill is too expensive which I cannot afford? The insurance will made the payment before discharge?

Thanks

It is best to refer to the policy document on the actual wording of the 36 Critical Illness as since 2005/6 (IIRC) the 36 CI list has been standardized. Older policies which has not been upgraded are not subject to the standardization, therefore a claim for CI in insurance company A may get approved, while it gets rejected (due to different wording) in company B.

But in general, yes, the meaning of CRITICAL Illness is sometimes referred to "point of no return" (very slim chance of recovery).

Let's put the plans aside and concentrate on what YOUR NEED, NOT WANT.


The general public buys the 36 Critical Illness because they fear if they suffers any of the 36 CI, for example Stroke or Cancer AND UNABLE TO WORK. When a person income stops, the bills wont. For example, which company is able to employ a person who does kidney dialysis 3 times a week from 11am~4pm or a person who is bedridden due to Stroke? This is where they see the need of the replacement of income.

In terms of insurance payout, the 36 CI is able to pay as a lump sum or as an annual income until age 70 (we call it Crisis Cover Income) and waives the policy premium (if payor or waiver is attached).

Now if the cancer is an early stage cancer, the chances of recovery is good, and probably one will be back to work after 2 or 3 months later. If you want to spend money to get protected for early stage, it is up to you.

1/2. If one managed to lived that long, then congratulations are in order, but that should not be the priority when buying insurance. It is about giving you money when you need it the most especially during a human emergency. When you buy insurance it is for protection, not investment. If at the end of the tenure and you get some money, consider it as a bonus. The premiums paid is as an expense, not income/investment.

2. As mentioned, if you are worried of early CI, then buy plans with early CI. My advice is concentrate on the prolonged illness which STOPS us from working.

The policy document does not mentioned about cancer being "3rd stage", as long as these keywords are in the medical report ""malignant, invasive, destructive to the normal cells"" and not carcinoma in-situ cases, a file for cancer can be done.

Another important point is that the patient must survive for 30 days

If he is "not too sick yet" to be considered as an insurance payout in the 36 Critical Illness, even if he has bought an Early Critical Illness, his insurance premiums will still needs to be paid, so I don't see your point here.

This post has been edited by roystevenung: Mar 7 2017, 11:23 AM

From what I can extract, your CI plan:
1) is a traditional participating policy
2) covers life and critical illness
3) increasing sum assured up to a certain age (60 and so on)

Lastly I just want to seek for opinion what's the meaning/point to keep such conventional CI plan? Everyone telling me this CI plan is best because insurance company do not selling such/similar plan anymore.
Not true. Such a product is still available.
The only difference is very few agents are still selling traditional life products, frankly because it is difficult to understand, and it isn't as transparent as ILP due to the fact that participating policies participate in the P&L of the company.

However, if you're around 30-40 years of age, young family, you might want to consider such a plan.
1) the sum assured for life and CI increases along with your age (up to 200% of your sum assured).
2) the long term savings in your policy takes on a lesser risk compared to ILP
3) dividends declared are guaranteed to you
4) GST zero-rated so you don't pay any GST on your CI benefit charges.

But I dislike the "3rd stage cancer" part so much... what's the meaning if insurance holder sick but "not too sick yet" and he/she still gonna pay the insurance premium until like forever?
The purpose of buying insurance is usually a result of wanting to plan for our finances and that of our family.
It requires a certain responsible character to take up the policy and afford its upkeep.
So since you have already decided to put certain plans in place, why not pick up the early critical illness coverage as well when you have this concern?
Either you keep the few thousand ringgit in your bank account, and you're bound to spend it; or you put it into the coverage that your family finances requires of you. It's your money anyhow.

This post has been edited by JIUHWEI: Mar 7 2017, 11:47 AM

Is there any insurer in Malaysia that provides insurance for income protection? One example that I saw is Pay Assure from GE Singapore

Here's something for your reference:
GenNext <<< Click

Critical illness plan acts as an income replacement because there is a probability that it will disable you from working in your job property. Whereas a 1st or 2nd stage cancer might not kill you, the payment from the early Critical Illness will help you with your finances.

What it means Critical Illness ? it's a sickness that would kill or render you disabled. If you can survive through it then definitely you'll need some cash on hand to take care of your health which is already partially or completely destroyed by the disease.

Always get sufficient coverage for yourself and transfer your risk to the insurance company.

whether Early or Late Critical Illness, there is always pros and cons to it, as long as you are sufficiently covered, the Critical Illness add on will be a bonus, make sure your death coverage is sufficient.

There are plans now which can last you up to 100 years old but whether it's wise or not to pay such premium for a longer period of time will depend on your financial status.

If you're on travel insurance, you can pay first and file a claim, normally if it's clinically then the fees are quite affordable. If you get hospitalized then you can produce your insurance policy and wait for the GL

There are income protection plans available from insurance company, feel free to meet up with your life planner to talk about it.

Thanks jiuhwei ans roysteve, I parking here and reply later. Having dinner and cont work, quite a busy day.

Hi sifu sekalian,
I have a life insurance from GE since I was 1 years old with annual premium of RM 1.1k and sum assured only rm100k. I am currently 24 years old. Is this plan still good for me? Any recommendations of better plan out there?

Hey phoenix24,

You've got a protection of RM100k so that's definitely good. However if you're purely comparing cost to value then that's another case all together.

Another thing to consider is, I believe your plans comes with a high annual bonus/interest ie: your premium is 1k bonus also about there. But I could be wrong.

I rather you make an appointment with a professional agent and analyse what you need. Everyone's needs are different hence there is never a straight answer when it comes to whether a plan is good or not.

Best,
Jiansheng

Will advise you to get a life planner to understand your personal financials need and guide you to get the right coverage.

Get your policy reviewed

Hi phoenix24,

It really depends on your lifestyle and what's going on etc. The usual things that you'll need to take into consideration are whether you have any liabilities that need to be dealt with, or any dependents etc.

It's good that you're asking now, and it's always good to review (not just insurance) our situation from time to time.

Cheers,
Matt

Prudential wealth gain. Pay 25k per year for 3 years, every year can take interest out for 15 years. If don take interest will have bonus as well. Worth?

You'll have to get a life planner to calculate for you the total return

Whether its worth or not depends on what you're looking for in returns or coverage. Each individual has a different gauge and I don't know your background so I can't really comment whether it's really worth for you.

Get them to analyse for you the need for protection, medical and your retirement plan

This post has been edited by lifebalance: Mar 8 2017, 11:51 PM

u should upgrade.

Like to know whether a car registered in Msia with 3rd party insurance is covered for 3rd party claim should one has an accident in Brunei, Spore or Thailand?

Thanks.

lifebalance
do i need to do a premedical checkup before getting a medical insurance?

already have a savings link with AIA.

male 33
non smoker
software engineeer

This post has been edited by roimekoi: Mar 12 2017, 12:23 PM

If you're healthy with normal weight then there is no need for pre medical check up.

Hi all sifu, i am planning to get a medical card, may i know which insurance company offer best package? personally more toward prudential, but it seem not so popular here?

Age 26,
Non smoker,
Job Programmer.

😅😅

Don't spill blood in the water by asking which insurance company offer the best package 😂

Anyways if you're comparing medical cards, this link will be able to give you a summary: http://www.howtofinancemoney.com/2016/03/b...d-malaysia.html

Once you've done with that you can pose your questions here

Best,
Jiansheng

Haha. Sorry for my straight forward. Anyway, thanks for the info, will look into it before continue my question.

best package is the "Agent" who services you.

Perhaps you may want to call up the hospitals nearby your area on their preferred insurance and work from there.

i understand that most if not all CI plan covers stroke, but i would like to ask whether stroke and being bedridden as a result, is considered as TPD, hence entitled to TPD payout of life insurance?

Hi,

Good question!

Here's the answer to your question

"Total and Permanent Disability (Suited Occupation)" means total, permanent and continuous
disability where:
1. The Insured as a result of injury, sickness or disease, has not performed any work for a
continuous period of at least six (6) consecutive months solely due to the same injury, sickness or
disease; and
2. the Insured is attending a Physician and has undergone all reasonable and usual treatment
including rehabilitation for the injury, sickness or disease; and
3. in Our opinion the Insured, despite optimal medical care/treatment and rehabilitation efforts, is
unable ever again to work in:
(a) any occupation or regular duties for which he or she is reasonably qualified by
knowledge, training or experience; or
(b) any full time or part time occupation or regular duties in the case that the Insured was
not in paid employment in the month immediately preceding the onset of Disability; and
4. for the purpose of the definition of Total and Permanent Disability (Suited Occupation), it is
immaterial whether a business, occupation or regular duty is remunerated or not.

I'm pretty sure this is very clear, and yes to answer your specific question, if stroke renders you disabled continuously for 6 months, then TPD will be paid out.

Hi Plumberly,

You have to buy an extension to cover the other regions for comprehensive insurance but if you are on third party then u would need to check with your insurance provider .

Thanks.

Hi Gurus, not sure if this is relevant question, no intention to compare different provider, but there's been one single question that troubling me.... Just comparison sake let say between medical plan from GE and Prudential e.g. Smartmedic + Smartmedic Extender vs PruValue Med, let say taking example of non-smoking male, NB 41, R&B 300, expiry age 80, Class 2 ..... When consider in-par plan e.g. GE with SM300 + SE300K while Prudential with Med Point 1.5 mil & med saver 300, just comparing the premium for ONLY medical card portion, what is the reason that difference could go way beyond two or even three fold.

My limited insurance knowledge, but could all insurance guru out there enlighten me what's the catch / distinct difference to look out for in considering such plan with hefty premium differences. Two plans looks almost identical (main benefit per say) from my limited knowledge.

Thank you so much.

Difference in premium charges will be due to the following
1. Different packages offered within the medical card
2. Deductible offered within the package meaning the higher the deductible the premium charges are cheaper but you'll have to chip in by paying part of the hospital cost depending on how much deductible required by the plan.
3. Different insurance company incur different charges based on their own cost control and performance
4. The amount of rider being put alongside within the policy.

Instead of worrying about the cost because end of the day all cost will change depending on the economy. Best to get the right coverage for the amount of money that you have. It's called an opportunity cost.

=)

For the benefit of all layman out there, the premium for an investment linked product really boils down to 3 things:

1) Cost of Insurance;
2) Cash Value;
3) Basic Sum Assured

1) Obviously the more protection your plan have the premium is going to go up. Other than that, as lifebalance has correctly pointed out, the cost differs between company. Why is this so? Well you'd have to ask the finance guys over there.

2) Assuming you have 2 identical product however 1 cost RM2k while the other cost RM3k. Well what this means is that your cash value will have a higher value. What this means more you is that if one day you do not have the budget to pay your premium, you'd be able to use the cash value to offset the premium due. Well that's one way to look at it. You can even try to ask 2 identical quotes from 2 different agents of the same comoany, you might get a different premium quotes and you can let them explain to you why so.

3) For Allianz at least, all our medical product comes with a life assured and this life assured has a Basic Sum Assured meaning for a X amount insured a Y amount of premium is required.

Hopefully it's not too technical for everybody to understand 🤓

Best,
Jiansheng

I'd excluded other charges or investment/riders etc, this is only pertaining to annual insurance charges for the medical card only (the one with step premium every 5 years).. GE is RM808+RM102.82 while Prudential is already RM4415.28 per annum (range of age 41-45).

Yes, definitely need to measure how "comfortable" is my wallet to fork out this "premium" year-in-year-out and the stepping every 5 years thereafter, not to mention any upcoming inflation that could further cause the insurance cost to fluctuate further (increasing trend).

My concern is still why the distinct different of premium between 910.82 vs 4415.28, is there some catch / hidden things that separate the hefty difference of two company providing "almost equivalent" medical card coverage. I understand good things don't usually comes cheap, but is really expensive price determine really good things in such context - pricing different.

It would be very productive if you can share the sales illustration here of the 2 quotation otherwise it'd best you have the agent's that provided the quote to you explain the difference.

Best,
Jiansheng