You can check out Allianz Diabetic Essential (ADE) and subsequently post your questions here if you have any.

ADE is a medical card for Diabetes type 2.

Best,
Jiansheng

There are different kind of CI coverage. It could be late stage coverage or early to late stage coverage.

Also, your age, occupation, smoker/nonsmoker, sex and amount of coverage will determine your premium. So whether it is worthwhile or not depends on these factors. Not discounting the fact that you will be getting the coverage.

Best,
Jiansheng

Don't get me wrong, I'm not saying you definitely need to get an ILP.

You should check out other standalone medical card before making that decision.

Best,
Jiansheng

Start with these in mind.

Protection:
- Life/TPD: For family and TPD income replacement
- Medical card: Medical bills
- Critical illness: Income replacement
- Personal Accident

Best,
Jiansheng

Given that you already know how long you would like the term insurance to be, it is just mathematics now.

Just compare the cost for term Vs ILP.

Here's the formula:

y = No. Of years until your kid reach a certain age

(Term annual premium X y) Vs [(ILP annual premium X y) - average cash value at y]

If term proves to be cheaper get term, otherwise ILP.


Best,
Jiansheng

This post has been edited by Holocene: Jan 26 2019, 09:05 PM

Actually it all depends on what your needs are and the plan that you and your insurance agent come up with. With the rapid changing in the insurance industry partly due to competition and also Bank Negara's encouragement we do see quite a bit of difference between Companies' offering.

The following are some of the differences (the list is not exhaustive)

Life/TPD:
- Investment linked or non-investment linked
- Payout: Sum assured + cash value or Sum assured or cash value, whichever is higher

Medical card
- With XXX annual limit and no lifetime limit or with XXX lifetime limit only

Critical illness coverage
- 36 CI or 70 CI or 157 + 7 CI
- Survival period: 7 days or 30 days
- Coverage: Until 90 years old or 100 years old

The best case scenario for you is to arrange a day, meet 2 - 3 agents from different insurance companies and get them to formulate an insurance plan to manage your life risk. You may then choose the best proposal.

Remember, the best insurance plan is the one that is currently actively protecting you. So my advise is, don't wait.

Best,
Jiansheng

This post has been edited by Holocene: Jan 28 2019, 02:47 PM

Request for a receipt of the said payment made, he will have a receipt from PruBSN.

Best,
Jiansheng

You mentioned that you received a confirmation email on 31/1/2019, what does the email say?

For an insurance policy to be issued/confirmed, premiums have to be paid first (cash before cover). If the policy has been issued/confirmed, then your agent might have paid the January premium for you.

Ask for the "registration fee" receipt. No receipt no pay. Easy.

Best,
Jiansheng

So let me get this straight:

1) Premium paid by agent with receipt : RM200 (Need to pay back agent)
2) Registration Fee: RM200 (Need to pay back agent)
3) February premium: RM200 (To be paid by agent/cashback)

You can text the following to your agent to clarify:

"Can I double confirm what this registration fee is? Because my friend recently also gotten an insurance policy from Prudential and there is no such thing as a registration fee. Also, since you're giving me a cashback for February can we just contra the current amount I owe you and I'll just make payment to Prudential for March myself?"

Share with us his reply.

Best,
Jiansheng

Here's an analogy for you.

When you go to a mixed rice/nasi kandar shop, Investment linked plans (ILP) are basically the plate and a medical insurance/card is the dishes/kuah you order with the dish.

But if you mean what's the difference between a medical card attached to an ILP vs a standalone medical card, then biggest difference is as per below:

Cost:
- ILP more expensive
- standalone cheaper

Coverage:
- depends as ILP has high and low coverage options

That's a straight forward way to look at it.

Best,
Jiansheng

Well, there you go 🤓

I suppose you'd feel that way is because you don't feel any value from your insurance agent? That's on him/her to show his/her value.

I like how Lifebalance used the nasi lemaka example but here's another way to look at it. There are a lot of nasi lemak seller/cook out there but we all have our own favourite because every nasi lemak seller/cook is different due to their recipe. Purchasing the raw materials to make a nasi lemak is easy, we can Google the recipe, putting it together for an awesome nasi lemak is another story.

Same case for insurance agents, we all carry protection products but it all boils down to how we design a plan and add value to our clients.

If you are looking for a product that has the lowest cost, you can request for a standalone medical card.

Best,
Jiansheng

This post has been edited by Holocene: Feb 15 2019, 11:48 AM

1) Life/TPD: RM1,000,000

Premium starts from RM1,905

2) Life/TPD/36CI: RM1,000,000

Premium starts from RM4,300

Do use the information you've found here as a benchmark. Understand what you're signing up for then you'll be alright

Best,
Jiansheng

Hi shahrul09,

Great to know that you are taking the initiative to do your homework.

SmartWealth is basically an investment linked life insurance plan. Based on the brochure, they are selling the concept of legacy planning with life insurance as a tool. Let's break it down what the brochure is trying to convey.

1) You have RM3,000,000 in total assets = networth

2) You wish to leave RM2,000,000 to his kids and set aside RM1,000,000 for his retirement.

Simple, but the brochure suggest that you do this instead

1) Set aside RM800,360 for life insurance premium payable over 5 years. This will provide you with a life insurance coverage of RM2,000,000 hence freeing up RM2,199,640 (RM3,000,000 - RM800,360) as your retirement fund instead of RM1,000,000

2) Your new networth is as follow:

Life Insurance Coverage: RM2,000,000
Retirement Fund: RM2,199,640
Total Networth: RM4,199,640

As to which fund they go for, it is an option that you can choose and your banker should be able to generate the Sales illustration accordingly. However do take note that Sales illustration projections are merely that, projections. It does not take into account their actual past performance and the projection rates are fixed between 2 - 3% (low scenario) to 8 - 9% (high scenario).

If you are concerned about time, you can always let us know the total sum assured you would like, follow with your Date of Birth, Sex, Occupation, Smoker/nonsmoker and we can all easily provide you with the detailed SI. These kind of investment linked insurance plan is not special to Etiqa

P/S: Here's the link to their fund fact sheet if you're wondering: https://etiqa.com.my/v2/investment-linked-funds

Best,
Jiansheng

This post has been edited by Holocene: Feb 21 2019, 01:20 PM

That is partially true, it really depends on the type of plan too.

For example:

Life Insurance: RM1,000,000

Full pay: Premium RM1,907/year = total commision RM1,716.30 over 6 years

6 pay: Premium RM5,573/year = total commision RM1,504.71 over 6 years.

As you can see the difference in commission is only RM211.59.

If you are savvy with your finances/money then the question of Time Value of Money comes into play and lets just say chances are you will opt for the Full pay option.

Best,
Jiansheng

It would seem you have the option to choose from the following:



You can read more at the following link: https://howtofinancemoney.com/2016/03/best-...d-malaysia.html

Best,
Jiansheng

Hi NosaJC,

It's like how yklooi has mentioned, what does the BEST really mean as there are all kinds of critical illness coverage in the market right now, from straight forward CI coverage to products that allows "refresh" of the coverage. It's a good thing as it forces insurance companies to be innovative and competitive with the design of the products.

BUT

If you are looking for a simple CI coverage that covers the Early - Advance stages of Critical Illnesses you can check out PrimeCare+ which was launched this month. The first and only of its kind.

- Extensive coverage of over 150 critical illness conditions such as heart attack, cancer, Parkinson’s Disease, and stroke from Early to Advanced stages

- Protection against 7 additional critical illnesses for those below the age of 19

- Diabetes and Cancer Recovery Benefit to help you recuperate and regain your ability to move on with your life planning

- Catastrophic CI Benefit should you be diagnosed with these 6 catastrophic illnesses i.e. cancer with metastasis, extensive heart attack, severe stroke, transplantation of both heart and lungs, total quadriplegia as a result of spinal
cord injury and the loss of your limbs to help you through those difficult moments

- Critical illness coverage up to age 100








You can find the full brochure here: https://www.allianz.com.my/prime-care-plus

Everybody is welcome to ask question about this product on this forum.

Best,
Jiansheng

This post has been edited by Holocene: Feb 23 2019, 08:30 AM

Not necessarily it's expensive.

Depending on your comfortable budget, an agent will be able to provide you with options from RM2k - RM10k in premium.

But realistically you can consider the following

1) Option 1

- Life/TPD: RM25k

- R&B200
-- Annual limit: RM100k
-- Lifetime limit: RM1mil
-- Deductible: RM2k

Premium: RM3,060/annual

2) Option 2

- Life/TPD: RM25k

- R&B200
-- Annual limit: RM100k
-- Lifetime limit: RM1mil
-- Deductible: RM300

Premium: RM3,660/annual

3) Option 3

- Life/TPD: RM25k

- R&B200
-- Annual limit: RM1mil
-- Lifetime limit: No limit
-- Deductible: none

Premium: RM4,860/annual

So depending on the coverage you're getting for your dad the premium will be charged accordingly. Above is just a sample of what you could get for your dad. Do check with the insurance agent that you're meeting on your options 🤓

Unfortunately for my dad, he's 13 years older than yours so you can imagine the premium I'm paying on behalf 😥

Best,
Jiansheng

This post has been edited by Holocene: Feb 26 2019, 03:49 PM

When a medical card comes attached with a Life/TPD it's an indication that's it's an Investment Linked Plan (ILP). As to the benefits of life/today/36ci, a death payout will definitely benefit the nominee however a TPD and 36CI will benefit the life assured.

Private vs Government hospital is a matter of choice and convenience.

There's quite a bit of difference between Option 1 and Option 2 for example: ICU days, outpatient treatment coverage. Option 1 is usually used as a complement to an existing medical coverage or in the case of limited budget the primary medical card.

I encourage you to check their differences out.

Option 1: Allianz MediAide
https://www.allianz.com.my/mediaide

Option 2: Allianz MediEssential https://www.allianz.com.my/medisafeessential

Option 3: Allianz MediSafe Infinite https://www.allianz.com.my/medisafe-infinite-infinite-xtra

To put it in a simple manner here, the more you pay the better the coverage is.

Best,
Jiansheng

Ops

Option 3

Life/TPD: RM25k

A/L: RM1mil

L/L: None

Deductible: None.

Premium: 4860

Thanks for informing MGM