Hello Sifus, would be grateful if you could answer some questions I have on insurance

1. I am 40 y.o. already have insurance paying RM200 a month, but coverage is only on Life RM100k and TPD RM100k, Death RM125K, rider for disability RM10k per annum, no medical card signed when i was 24 yo, smoking.

2. Signed up for another insurance when i was 33 yo, quit smoking. Medical card + life. hospitalization(7UPTH) RM150 perday and (7PAAC) for RM10,000 only, paying RM100 per month

3. Now i want to take up insurance for the purpose of covering my outstanding loans/debts should anything happen to me. i have also started to smoke again.

Question:
a. If i want to add on to insurance (2), would they revise my premium since im smoking again? Do i have to disclose that i have started smoking?

b. Should i just terminate my insurance (1) since the coverage is so little?

c. Should i be looking at term life insurance instead? with coverage of at least RM200,000, the premium looks affordable and i can just disclose that im a smoker without any worries.

d. Term life insurance says it does not cover pre-existing conditions. I dont have any BP/diabetes etc but i am diagnosed with arthritis and on medication. would this affect the policy?

thanks in advance for your views.

Thank you lifebalance

e. Since the arthritis happens after I signed up for the insurance plan, the existing plan will cover right?

f. Do i need to declare to insurance (2) that I have started smoking again? or no need?

Dear ckdenion


Thank you so much for taking time to respond.

Much appreciated

This post has been edited by chichichi: Nov 27 2017, 03:43 PM

Dear Sifus,

May I get your view about my agent. I have been with this agent since 2012, I have two policies with him, one for my kid (under my spouse name) and one is my personal one. One thing that irks me is that since last year, he only give one set of goodies for new year ie one diary, one calendar and one planner. Im thinking since I signed two policies, I should be getting 2.

It is not a big deal but it kinds of bothering me, because i could really use another planner, and pass the other calendar to my spouse. But I dont dare to tell him, he also now very scary haha.. i ask him to quote for me then he say he very busy.. i ask him about my current policy, then he just give me short form answers i dont understand but dont dare to ask

Any thots?

aiyooo so generous holocene... thank you but i shy lah
ckdenion, i guess im just wondering if it is a given that each policy is entitled to diary/planner/calendar or not. or is it up to the agents to decide what to give to whom.

actually i did last year.. i said "why you only give one set, give two laaa"

but no response.. so scary my agent i tell u

well anyways, thanks holocene, now i know that it is NOT a given.. i thot one policy will definitely get one. so must appreciate more

This post has been edited by chichichi: Nov 28 2017, 03:59 PM

Hello insurance sifus,

Asking for a friend, she just recently found out she is under insured coz her property only cover MRTA for 5 years and expiring next year.

Balance loan: 500k
MRTA expiry 2018
Existing Life insurance TPD 110K

Should I suggest her to get MLTA or increase her insurance TPD coverage?
Her concern if anything happens to her, wants the mortgage debt fully settled.

Thanks for suggestion.