Expensive is one thing, but I do want to find out the rationale behind. Eg, one company promises moon and stars with kitty cost, another with such limited benefit per say, but such higher premium. So, cheaper better and expensive lousier? Or there's catch between the lines that consumers like us failed to distinguish. I don't think Prudential is a no brainer to charge such high COI, but just we may failed to understand the logic behind when rest of competitors are having much lesser COI. Heachache. Seems like no guru or sifu here that could explain this.

All this cost you're trying to save, you'll need to end up being discipline in investing that money to pay for any future higher cost of insurance to incur in the near future.

As I've mentioned somewhere in another post
You can compare another 1 which is a little more simplified.

https://www.aia.com.my/content/dam/my/en/do...Med_Regular.pdf
+
https://www.aia.com.my/content/dam/my/en/do..._MedBooster.pdf

Honestly in my opinion, better to sit down with a proper life planner to go through all the figures with you and then from there you'll get a bigger picture of it and make a better decision. Not because of "colleague", then you buy to support.

Hi clickNsnap, btw how many med insurance have you compare? actually most med plans from insurance are almost very similar. any concerns you have so far?
why not ask your current insurance advisor to help? 

1) You may include a single or double parent payor and appoint a (third person) contingent assured to the child's policy. Touch wood, should the scenario where both parent's are not around, the policy premium payment will be waived and the contingent assured will be able to take over the policy until the child is 25 yo of age.

Once the child has attained 25, he/she will be able to take full control of the policy and decides if he/she wants to further continue or even upgrade the plan.

HTH

It sounds kind of weird that a policy for a child would expire at 25 years old especially its an ILP with Medical Card

Food the sound of it it seems like your agent is encouraging to surrender the policy and buy a new one

You should be able to continue your current policy and upgrade from there

Unless it's stated clearly in your policy contract that your child Policy will not be renewed at 25 years old.

The process is your case will be underwritten first, if approved without any check up requirement then only you will be billed by the insurance company for your premium

Older child education plans are only up to age 25, even though its ILP. If you want to upgrade it, then it has to be on a new policy up to age 100. You can request the agent to do a transfer of medical card to the new policy so that the waiting period is not imposed on the new medical card.

If there are health complications or uncertainties of whether the case will be accepted by UW, then you may submit the case first without 1st month premium payment. Agents like to collect the payment first cause they don't have to do double job of visiting you again just to collect the premium. You may tell your agent that you can now "Pay Thru Phone" if the case is accepted (new payment feature by Pru)

If you pay first and later the new case is not approved or you do not accept the conditional approval letter, you'll be reimbursed back of the said premium.

TNC for the lifetime limit. As the agent kept saying nearly RM 1mil annual limit with no lifetime limit, it sounds too good to be true.

Which package? 90 + 900? That's cheap considering your age. I'm 32 and she quoted my RM270 with early CI and waiver...

If you have an ILP medical card and make payment to your premium on time without having a lapse occur the Insurance company cannot "reserve the right not to renew the policy". Also assuming this particular illness is not a pre-existing illness that was undeclared and no exclusion was given upon application.

If for some reason your policy is lapsed and needs to be reinstated then there is a chance that the insurance company might then exclude certain coverage hence it's always important to make payment of your premium.

Additional information for others, if you are looking to purchase a medical card from a general insurance company, always be on the look out for a withdrawal clause.

Best,
Jiansheng

It's more about how the mechanics for ILP is designed. As you guys know, ILP tend to have cash value which is ensures that if premium is not paid, the COI is still covered if the cash value is sufficient. If for some reason the ILP lapses there is chance during reinstatement that exclusion will be included.

You will have to check with the respective insurance company on their standalone medical card terms and conditions.

Best,
Jiansheng

The life insurance company will continue to insure you as long as your policy does not lapse based on the first day you sign up as an insured, it doesn't matter what happen in the future whether you're no longer insurable or not, that's called an insurance in the first place.

Which is why it's always important to apply for insurance when you're still healthy.

Whereas for general insurance company, some of them will have withdrawal clauses and guarantee renewal keywords. So make sure you double check on it before signing up with them.
As I know for AIA, whether it's ILP or non-ILP, there is no such thing as withdrawing clauses whatsoever. Both are treated the same.
No, premium will not get loading, as I mentioned however, insurance company have the right to notify you if there is an increase in premium in the near future.

Let's get the respective agents from those companies to comment as Allianz Life does not provide any standalone

Whereas to if loading is added subsequently, NO. Hence there is always a judgement call to be made whether to get a high limit medical card now or later on.

Best,
Jiansheng

Hi, I still ended up with PVM, 1mil med value point with 20K deductible. Using this as a shield to strengthen my ancient medical insurance with prudential... PMM1.. which just received notification few days back on increased insurance cost and prudential increased my lifetime limit to 210K now (originally 150K) .

One of the reason is to utilize the cashless claim with prudential's HAS. Not sure how hassle would it be if my 2nd medical insurance with another insurance provider. If need to go through pay-first, reimburse-later, not sure if I'll be ended with borrowing $$ to settle medical bill which will severely defeat the purpose of having insurance perceived to give me peace of mind.

Well, I still not able to figure out why prudential cost so much expensive compared to other providers and yet the limit and features are way below others. But, down to earth a bit, i really don't think there's free lunch with paying so little premium and having unlimited claims. It'll be like other providers being in charity industry with prudential otherwise?  Well, insurance is just a figure plan, if customers starts abusing and over claim, then repricing will occur much rapidly to sustain the plan.

Currently my monthly premium is still manageable with the original rm300+ monthly (medical plus CI  and few other riders and ILP)  and topping up about ~rm100++ (ILP with bare minimum life protection, just going after PVM) for the medical insurance expansion, effectively bumping up my 210K lifetime limit to 1mil fully covered lifetime limit and 20% coinsurance if to utilize the unlimited lifetime limit after 1mil exhausted.

cannot blame lifebalance here as the product brochure from official website is still the not updated details.

If the second medical card is from a different insurer, then the client will need to pay the variance not covered by the 1st medical card and using that original receipt+tax invoice, medical report, discharge summary, letter of settlement then file a claim with the second insurer

This will be losing to customer eg pre-existing conditions etc. They need to start all-over again or in-eligibility risk. Plus, terms in dinosaur medical card in early years are not all bad. Aside from kitty limit both annual and lifetime, they can be really quite good too. Eg, my ancient plan PMM1, just as an example. It really boils down to how agent telling the pros and cons before pursuading customer to switch or upgrade. Or they just want the new business. This is not like buying handphone, otherwise life or medical insurance is utterly bullshit if all plan on early years are lousy when compare to newer plan introduced. Then one should not consider buying insurance oledi since newer and better will keep coming out while older plan signed is destined to phased out and labeled useless. Just my take on this.

Hi guys, just asking for the opinion in selecting product type by having about the same premium amount yearly.

(1) Having medical insurance (standalone) + life insurance from diff insurance companies.
(2) Having medical insurance (rider) which including ILP.

What's the pro & con for these options?

Well you can't expect Insurance Company to give discounts on existing customers when the cost of inflation is there every year as well as the increased cost in healthcare and claims. They are operating a business and not a charity. Though we wished they would do that for us as the consumers.

The extra of RM 30 is to cover the higher medical card cost for 71-80 years old
I will advise you to cover up to age 80.this is because the life expectancy for male is 75 and female is 78.furthermore if you choose until 70 years old.later when you are 70 years ols,you are not able to extend again to 80 years old.

HI There,

yours plan may be is Pru Flexi Med.

1. it is advisable to upgrade to unlimited annual limit and lifetime limit which are 1 mil, 1.5 mil, and 2 mil  subjected to your health condition is good.

2. Second option, you can add a 2nd medical card with 20,000 deductible while remain the same Pru Flexi Med.

There are some difference and no difference between 70 yrs old and 80 yrs old.
1. the similiarity is : both medical insurance charges at the age of 70 and 80 is same.
2. the difference : the premium for 80 years old might be a few ringgit higher compare with 70 yrs. so, it gathers more saving. 
however, both of these two points on above I advice to opt for 80 yrs old because the cash value at 80yrs old is much more higher than 70 yrs old. hence, it will extend the medical card period until age 80 yrs old.
[attachmentid=9014428]

What's the big different in the premium?
If just 20 or 30 monthly no big deal, 2 starbuck gao dim

The medical is not only for you, but your next of kin burden as well
Example your very sick on age 81, your anak or cucu want sent you to gomen or private.
If they just normal folks private may cost them heavily, while gomen hospital have queue as many patients pending.

Then that time your children may have to think hard...
Shall I fork out half my saving to sent my parent to private or just gomen and pray for the best...

Think again...