Hello Guys,

Need quatation for medical coverage for me. Preferably Aia,allianz,predential and Hong leong. ILP card would be better for me i guess as i dont have any company medical card and i would like to have coverage up to 80 or 90 years. Budget around 4-5k a year.
Male
Dob:6 nov 1984
Work: IT
Non smoker

Hi sifu-sifu, how to know I am over, under or properly insured? I am 31y, my wife 32y, and my son is 1y. Our insurance are as following:
1. Myself - AXA Affin - RM300
2. Wife - AIA - RM346
3. Son - AIA - RM254

Good day sifus

Is it true insurance cost increase by Jan 2020? For buying new plan

ya ya . been told something like new plan must be able to cover until age 100

meaning buying new plan in 2020 got to pay more due to BNM guide is true right?

Thanks bro. Will look into it.

What’s the benefit you see with Allianz?

1) is your purpose of this savings? If yes, have you find out the return from this plan compare to other alternative investment

-purpose is to have an amount of money after retirement, for savings
alternative enquired on public mutual but after knowing that every month there is deduction as "service charges", decided not to go for it, i do save a sum of money every month when salary enters, not really looking at very high returns in short / medium period of time.

3) are the returns guaranteed? Fixed deposit interest is guaranteed. Universal Life plans of such nature will have certain portions that are non-guaranteed.

-thats why i dont trust those agents words, they will say all good just to earn commissions, nobody will know what will happen to those funds in the future

5) What will happen if you can't afford to continue paying premium for 20 years?

- yes its kinda like a commitment to follow through for 20 years, failure to do so will result in waste of money haha

6) you can't save any money at all. you keep using it on buying stuff for yourself. Hence your parents told you that you should buy this plan as a forced savings to discipline myself.

-no ba, i can always save money every month put in different bank account, rarely buy things for myself also lol

by the way, thanks so much for the advice must took you long to type
hi

thanks for reply

purpose is basically to have an amount after xx number of years, after retire
am not looking to grow my wealth by alot by investing in this kind of "plan"

currently also been putting aside a sum of money into different bank account as savings, but since the interest is barely non existent, might as well put in something that can safely guarantee a small amount of return (fine for me as long as it keeps up with inflation) <-- or is not possible ? haha

"might as well put in something that can safely guarantee a small amount of return" <-- this main purpose

anyone here thinks that purchasing life insurance for aging parents as unethical? thought of getting it, but scared parents think i am counting on them to die soon pula

There is a school of thought out there that said the annual limit must be burst first then only you can use 2nd card. This means it wrong right?

So your explanation make more sense since whichever card that Mr A choose to use first doesn't really matter because the outcome is same and that is his bill is 100% covered by both of his card.