You may need to check with your respective insurance company on this whether it can be claimed or via ur agent for more info.

that depends on your existing coverage and what you're getting for moving into a new policy, what are you also losing out as well.

you'll need to be more detailed if you want to get proper insight or advise.

I still cant get it where you got the 1500 from. For an ILP, how can the agent simply change the figure when its ficed amount of premium? They have their own policy too. As far as I concern, I the total allocated premium is 100% into the fund commencing year 5. toward they end. I am with the agent that time together with my cousin. I see the computer, the excel sheet was programmed accordingly. There no way to input any other thing except Sum assured and rider in which CI in this case.

And the premium is fixed. Why is it the premium will increase when COI and NAV drop when in the duration of chosen sustainability years?

My point is that is ILP the new trend nowadays? Because every insurance agency promoting ILP life no tomorrow. I have no objection on what the promote. What I don't like is that most of them don't bother to explain clearly on the T and C...

Is non-ILP have cash value too? Agent told me no. I doubt.

Honestly speaking, what do you think the offer from etiqa person?

Thanks for your reply. Indeed clearly without all those jargon.
Yea, as a investor its better to know the market. But as a investor too, when I look back all the fund sheet etc etc they have, they perform real bad. Not to mentioned the SC! And the scenario they gave in the table (I had the quotation and all tables) always projected at 6% for a bond fund, 8 to 10% for the EQ. But infact, in the charts, they wont even barely touch the % given. For bond fund, 1%SC, hovering around 3%, -1% its 2%. FD better than this?

But that doesn't matter as buying Insurance is for protection, not investment. Correct but when the full amount of premium gone in to the fund...... that's the other way round.
Do you actually tell that statement right into your customer face?
For the love of God.

This post has been edited by [Ancient]-XinG-: Jan 11 2019, 10:14 AM

Term life - slightly higher insurance cost price in long term due to commissions and company policy for temporary customer, may have trouble on renewal if required.
Ilp - terrible sales charge, bad fund performance, not guaranteed to maintain premium paid.

Nothing is perfect, insurance company, agent, fund manager will always earn some money from you. You may ask your cousin opt for both (each at 250k life for e.g.), pick either one, or don't buy insurance / wait for new product.

Cheap insurance without forcing to take investment with high SC (diy invest should be under 2% SC), or can pick third party fund/etf, and no need go through agent (no commission paid at all), afaik doesn't exist yet, maybe in the future, or you can try to start it (just jk).

The reason I suggest ilp is for flexibility to adjust the coverage by attach or remove riders (not sure is this the correct term). And what I suggest may not be important feature to your cousin. What you said is completely makes sense, but nothing we can do, rather than pick term life (with some disadvantages I listed) or don't buy.

This post has been edited by vanitas: Jan 11 2019, 11:27 AM

ILP is the trend nowadays as it's more profitable to the insurance company.

Regards to T&C, it depends on how transparent is the agent willingly to explain to you.

non-ILP a.k.a Traditional policy has cash value and they're normally Guaranteed dependent on the product feature compared to ILP which is non-Guaranteed.

Regards to the etiqa policy that was quoted, for the coverage and the amount of premium he's paying, I think it's a fair policy.

Ah ic.. Not too sure bout MRTA but i belief Life insurance has cash value account at your disposal.

life insurance is in case of death and TPD , lump sum money will pay to your nominee to plan the money., if you just bought MrTA, anything happens, the building is settled but how bout the daily expenses for family children car monthly commitment etc.


Seniors do comment if im right or wrong. XD

Just a newbie agent here

I do. Cuz customers need to hear that.
There's just no other way than to hit them with the truth.
Only then what we do is real and relevant.

There are still "Participant" insurance policy around whereby those bonuses/Cash calue are given based on insurance company investment performance as a whole annually, instead for the like ILP which you invested a particular fund (that may result in negative return if the particular fund is not doing well).

Just because agent promotes more on ILP (that may due to better commission rate or better profitability to insurance company or else reason, which is another story), it doesn't mean other insurance products are not available.

In fact, traditional/conventional participant policy may pose lesser risk than ILP. As worst to worst, annual bonus/cash payout out become less or zero, while in ILP, investment in unit trust can yield you a loss.

Actually commission for ILP is lower than traditional

ILP is good because the protection benefit is much higher if I understood correctly

But at the same time, ILP annual premium is much higher than traditional/term/etc policy as it bundled the investment portion.
So end effect of commission may be the same (even though % wise is lower) or may be higher as well.

While unit trust portion, sales charges range from 1-5% may incur, as well as annual management fee that range from 0.5~1.5%.
So in return, when insurance company can make more money, they can give better benefit.

Insurance is not a charity organisation, when they give good protection, it just means there are area of profit they can make from it.

ilp annual premium much higher > true if you are young / just bought, not confirm when you are getting old, depends on how ilp fund performs and compare with which traditional products. Also afaik, ilp can adjust the riders / coverage which affect the premium paid when needed, traditional cannot. This flexibility is important point imo, as one may need different coverage at different point of life.

Sales charge and annual management fee > usual UT also got, you may argue insurance one got higher sales charge, which is true. So you are right, actually we paid more for seems better coverage. Annual management fee is comparable to UT in the market, so it shouldn't be a disadvantage, but should be known to the customer.

I am not an agent, altough I personally prefers ilp, but I am not against traditional, just to complete your argument.

Not an agent/expert..just an underwriter.
If one has no pre-existing thyroid conditions such as thyrotoxicosis at the time of insurance application was made, of course it will be covered under medical card.
The scope of medical diseases/disorders are large and ever expanding..of course not all illnesses can be specified under insurance policy, with the exception of the widely recognized 36 critical diseases.

This post has been edited by shodan11: Jan 13 2019, 09:53 AM

Not saying this for sure. Currently most CI products/riders are based on 36 CIs. Hence if there's any add-on coverage, the customer might lose out on the additional benefits offered. I might need to check on this later, while we may wait for experienced agents to come and explain further.
However, by doing endorsements (adding up coverage/new benefits), the client will get to enjoy the new expanded CI benefits.

just checking with you.......last week I had a brief encounter with my friend.....
he mentioned that his son was admitted to a hospital and had a surgery........
it was something like pancreas covering the liver (sort of like that).....
he mentioned that it was a "heaven born" (Chinese translation)...natural occurrence....
thus his insurance does not cover that "heaven born".....

is it true that natural occurance are not covered by insurances?

As an underwriter, my claims experience/knowledge is quite limited since underwriters only assess based on what medical evidence available/client declarations up front when they are applying for medical/life insurance.
Your friend might want to check his son's insurance policy booklet. However I believe any pre-existing condition/ corrective/elective surgery will not be covered under his medical insurance.
I'm also not familiar with this 'heaven-born' condition (exact medical condition) ie whether is it life threatening or not as well as the child age, policy details & what information was provided during insurance application.

ya, those "tin sang" sickness are rarely covered by insurance

Heaven born a.k.a congenital illnesses are not covered by insurance company unless it falls within a preborn insurance coverage list.

Best,
Jiansheng

Pre existing is not covered in this case since its congenital unless your doctor diagnoses it differently

just for discussion sake....
this pre existing thing......
does it has a duration before it is NOT classified as pre existing?

example....if his son is 1 yrs old, 15 yrs old or 25 yrs old....... does age matters? any different?

example....at what age will then, having cancer.....will not be classified as pre existing? thus covered by insurance?

This post has been edited by MUM: Jan 13 2019, 08:59 PM

few factors will be considered on the severity of the ailment, complications, medication taken, any surgery, impact on day-to-day activity and etc.

There is no specified duration, I have my clients who had cancer 10 years ago who got medical card approved but excluded for any cancer.

Congenital is different from preexisting, I think. Congenital is if you have it since birth, just that you might not have known about it. Cancer is not congenital. It is pre existing if you already have it and is looking for coverage. Laymen understanding...