Here's something below to kick off your insurance shopping journey:

Life/TPD: The sum assured amount depends on your individual financial situation. If you have a lot of money and no debts then you might not even need any cover. A generic way of determining the sum assured is 10x your annual income. So have a think how much you need, list down your commitment and imagine if you lose the ability to work for life, how are you going to cover these expenses and what is the appropriate amount of cash at bank that you would need to continue living your life.

Medical card: Most companies offers annual coverage > RM1mil with no lifetime limit. Choose whichever that you find most appropriate.

Critical Illness: Understand whether you want to cover from early to advance stage or only advance stage. Critical illness insurance also known as income replacement insurance purpose is to as its name suggests replace your income in the event you are diagnosed with a CI. So imagine 1st stage cancer, maybe I take 1 - 2 years off from work for recovery, how much income do I need during that time of recovery?

These are the 3 items you need to do more homework on, the rest are Personal Accident (PA) and Waiver. PA, suggest you buy from a general insurance company. Waiver is up to you if you want, personally I'd advise you to put the money into CI if you're on a budget.

The best case scenario, which a client of mine did was line up interviews with agents from different insurance company then get them to pitch.

Whereas to your question to what kind of package you can refer below:

- Life/TPD: RM100k
- Early - Advance CI: RM100k
- PA: RM100k
- Medical card: R&B250: RM1.2mil, no lifetime limit
- Waiver

Note: the RM100k are all independent of each other. Meaning if I've claimed RM100k for PA, then subsequently claim another RM100k for CI then upon death another RM100k. So that's a total of RM300k claimed. Note, not all insurance company products are design as such.

Premium: RM3,600/annum

Again, this is just a very generic quote but you get the idea.

Do your research, when you're ready arrange interviews then decide which insurance company and agent can serve your needs.

🤓

Best,
Jiansheng

Best to get your financial need analysed to see what is best to propose for you.

hmm... not happy with AIA customer service or your agent? its really subjective when it comes to this. basically almost every company also got customers complain before.

Anyway back to topic, medical plan is quite common whereby the available plans in the market offer at least RM1million a year medical claims.

For life insurance, a simple rule of thumb is make sure any amount payout can settle all your outstanding loans and also provide your family a certain x years of income.

whereas for critical illness payout benefit also, make sure amount is enough for at least 3 to 5 years transition period or best is at least a 100 months of income (or can be 60% - 70% of current income).

it all depends on your needs. there is no fixed amount. so long you know how well the plan can help you then you are good to go.

Medical rates are hard to be determined, if you had 3rd stage lung cancer today, then perhaps a 1 mil hospitalization plan would suffice for a decent coverage.

The same can't be said 10 - 20 - 30 years from now on.

As time progresses you will constantly require to review your existing coverage.

What's important is to cover the present lifestyle from unforeseen circumstances instead of worrying too much about future planning.

With limited finances, you will never be able to achieve the perfect amount that you would like to purchase for your insurance.

Which is why it's important to get a proper insurance agent to understand your priority and assist you in proposing the right plan. Not hastily quoting a figure like a salesman.

so it is agent's issue after all. then dont worry about that. we all are humans and cannot guarantee to serve whole life too. Most importantly you know which company you have your policy with then it is all good. so far i help my client to service their AIA policy, their customer service is ok to me. of course finding an agent that is willing to help most of the time is also important too.
if status change (married/having newborn/acquire new asset/etc...), then can review immediately. else once per year is the best of course. normally when i meet up with customers to have a casual makan makan also can do a review already.

Hi,
Any comments on Tokio marine as an investment linked life\36ci\medic insurance ?
As compared to Prudential ?

Purely from a company standpoint.
Assume both agents are superb.

sure is financial planner? lately even some insurance agents also called themselves financial planner. financial planner must always think on behalf of clients.