No lah... to be fair on your agent, maybe you can call him/her up and say "Hey, I am interested in the medical upgrade."

Sure do for you wan.

the policy is safe to buy or not.... Well, I am an agent as well as an end user just like yourself. I am active in both life insurance as well as general insurance.
Like all things in life, we assume the risks associated with our decisions.

With that said, I was shown a letter by a client's friend seeking help, which goes something like this "we do not invite you to renew with us".
You're obviously referring to a medical insurance. Why don't you buy it from a life insurance company?

What is the duration of your studies?

I do provide said travel insurance without needing a return date.

Yeah that works.

No return date necessary but I do need the name of your institution.

Continue in pm.

Yes it is.
However, in the long run you will find Permanent Life more worth it.

Of course, it is all relative. You'll have your own set of considerations wan mah.

No.

However, you can add them as riders in an investment-linked life insurance.

I think it is best to clear the air here.
The jargons here might be confusing.

Usually when we see "Whole Life" in an insurance context, it refers to a Life insurance policy that has a coverage for us, like the term mentioned, for our entire life.
In this region of the world, it means to age 100.
So if a Life insurance product tells you that it covers to age 100, then we may refer to the product as a "Whole Life" insurance policy.

On the other hand, almost nobody would use the term "Whole Life" in the context of a medical insurance policy.
However, most medical insurance plans in Malaysia now covers to age 100.
In essence, yes, we can understand it as a "Whole Life" policy too.

My leader is also my sifu.

What's up?

It does. All applications will have to answer the health questionnaire, and it’s best we answer as is.
The logic being our health condition directly affects our chances to continue being alive.

With that said, the underwriting is less rigid relative to health insurance.

For example:
Let’s say I have high blood pressure and on constant medication, and my medication has been working and keeping my blood pressure stable.
For a health insurance application, the underwriter may impose a loading on me.
For a life insurance application, the underwriter may take me in as a standard case.

Please note that the above is just an example to prove a point, from my past experience handling a case.
Your application is still dependent on your blood pressure readings, the underwriter, etc.

I have some experience with similar case. A client of mine told me he wants to switch to another insurer because the package looks better.
ILP plan to ILP plan. Very similar coverage, few ringgit difference.
Sure, no right, no wrong.

I told my customer
Let’s look at it this way.
I have met many customers who approached me to ask if I can offer something similar but cheaper?
Yes I can. But if you ask someone else can they go cheaper? Yes they also can.
If I come to you as a businessman, what also can. I want business ma, right?

Now do you want me to come to you as a businessman or as a good friend?

He said, as a friend lah. Sure got something, faster show me.

So I whipped out my laptop and show him how to go cheaper.

At the end of the day, the customer of mine bought the plan from the other agent, and introduced the other agent to me over lunch. Why? Because I showed him his other agent is being a very good friend to him and also share the same approach as I do, very thorough guy as well. We are still good friends till now as I meet with him at many industry events.

So what I wanna say is maybe you want to bring the GE quotation to your agent from Allianz that has been serving you. Try to run it through him (or her) and see what they say.

If I can be frank:
I believe an honest person wouldn’t play around with you between the words “savings” and “investments” in an insurance policy.

Actually right, an ILP is perhaps the most transparent type of Whole Life insurance, compared to traditional policies (what we call savings plans, endowment plans, etc), it is even more transparent than universal life.

I hate to jump the gun, but i think your best bet is still bring the new quotation and run it through with your existing agent.

Maybe it is just me, but I can't help but to suspect somebody is trying to be smart with you, toying with the words "savings" and "investment"

Highly encourage you to run it through with your existing agent

With that said,
On the matter of "investment plan going nowhere" .... I doubt anyone bought an ILP with the intention of riding it as an investment vehicle.
I mean... the objective here is to insure yourself right? That's why you bought an insurance policy, right?

I highly encourage you to run through your objectives again before deciding.
Cuz... your current policy already accepted cover, why would you want to be subjected to underwriting again...if it is the same kind of coverage? <<< For young people, memang can't relate. But for older folks, this is a big deal man.

I believe many sifu-s here can agree on this

This post has been edited by JIUHWEI: May 3 2019, 12:22 AM

I approve this message.
And I endorse it.

Sometimes agent can be quite long winded, macam very 8 wanna know this and that.
But actually we want to do right by you guys, to be accurate.

If cheap is king... then we both lose cuz one day in the future you will surely come to our office and belanja nasi kari.
Confirm wan cuz I kena twice liao, referred cases cuz the first one the agent passed away from old age; the second one the agent kena stroke during an angioplasty procedure. The customer only got this face to see, they sound me up la... still wait what?
But of course after they vent and rant, I got remind them "when this policy was incepted, I was in kindergarten."

If it is too expensive, can tell us "eh why not i bend over and offer you my butt? knncb u think i print money ah?"
If it is not what you want, can tell us "I talk that time you got listen or not? Understand mandarin/english/bm/tamil/tagalog/indon/thai or not?"
If you feel you want to support your friend, but you are uncertain if your friend is pro enough yet, can tell him/her "eh can bring your agency manager along ah? I might have other questions"

Lidat mah...
The training nowadays is all about fact-finding, how to analyze, what to consider, keep an eye on sustainability, etc.

But if we, as the consumers, buy insurance (or any financial product for the matter) with the attitude like
"what is this guy gna hardsell me this time"
"what else can you offer, what else? What else?"
"See what is he/she gna present first, defo not gna buy anything from him/her"
"My friend pay very little only woh, how come yours so expensive?"

My friends, let's give our friends who join the insurance industry a chance to be "professional" and go through the fact-finding, financial health check, basically their level best at what they are trained to do. Otherwise everywhere you go you end up with "porfessional" agents hehe haha with you, tell a bunch of lies like "wah you look like you slimmer leh, change hair style leh, look better leh".... very song meh? Of course there's time to play and mingle, but there's also time to be serious lah.
When your agent is serious, maybe you want to listen to what he/she has to discuss with you. And participate in the discussion, go back and forth, share your goals and objectives, share your concerns. That's what we call a discussion mah. Otherwise you think agent come and meet with you for target practice meh

My attempt at answering your questions:

1. There's no fixed schedule, but with the few revisions in recent years, yes, I as an agent also want lots of answers from company. With that said, we can keep at the back of our minds that nothing goes unless Bank Negara approves it.

2. I think there's 2 parts to this question. I'll answer them separately.
a) Relocating overseas for X amount of years.
Just like any foreigners coming to work in our country, their employers have to insure them. It is required by law, and the same throughout the world. So while you're working overseas, your employer is required by law to insure you. Even if you're just there as a contract worker, your employer will explicitly mention if they will be insuring you, or they would require you to have a local medical insurance cover.

What happens to my local medical insurance while I am overseas?
Your local medical insurance will continue to be in effect (premiums need to be paid too).
How your local medical insurance will work is like this:
It will continue to cover your medical costs while overseas for 90 days from the date of your departure, up to however many days of hospitalization while overseas (depending on your policy).
Whatever medical attention you received for whatever condition while overseas will continue to be covered by your local medical insurance policy once you return to Malaysia and receive medical treatments in Malaysia at licensed, registered medical facilities.

3. Insurers do not discriminate. The only thing insurers care about is our health condition.
And the cost of insurance is there for our reference as well.

With that said, since you get tax relief for it, why not take advantage of it?
After all, if you don't spend it on medical insurance, the amount gets taxed. Why not get taxed less?

More importantly, why not get yourself insured now when you are healthy and able?

In terms of what to insure yourself with, I would like to echo cherroy here, which is to look into medical insurance and CI first.


Hopefully my logical reasoning resonates with you.

Have you tried engaging your current servicing agent/writing agent that you purchased your existing policy from?

The medical rider is a standard product that will cover till age 100.

The ILP on the other hand, you can choose the sustainability (30 yrs, age 70, 80, 100).

So what it means is, at the ILP maturity, you can have the option to continue on to keep the medical rider. But of course, at a very high COI at that age.

In a sense, it's betting that I pay lower COI till age 80, and I better die by then just to avoid paying higher COI charges.

Sorry ah, I'm quite blunt.
But I think better to be blunt than trying to sugar coat, prancing around an issue

Yes there is. Only speaking for AIA Public Takaful here.

Upon application, we would need to do two things:
1. Blood Profile E
2. Attending Physician's Statement.

Then with these reports, the underwriters will decide to accept/reject, or what level of loading is required, or what kinds of exclusions to impose.

It all depends on the readings. More info in PM.

Yup, that's the standard TAT (turn-around time) for such procedures.

Hope everything works out on your end man.

Yes you are right. However, the 1500 doesn't come in the form of cash reward ah.
It is accumulated in the Health Wallet.
You can use the amount in the Health Wallet for Prevention and Vaccinations, mobility and hearing support, Mental Health Benefit, etc.

You can actually opt to include A-Plus Health into your existing policy as a rider.
However, you may need to answer a health questionnaire.

A-Life Fleksi is a Shariah-compliant Investment-Linked plan, with a wide range of riders, from critical illness, medical plans, PA, hosp. income benefit, etc.

Those under 16 can have their parents/guardian as the certificate owner.
Those over 16 can be the insured as well as the certificate owner on their own.

It is a Whole Life, Non-participating plan which has a profit-sharing feature between the insurer and the certificate holders. At the end of the financial year, whatever surplus will be shared 50-50 between the insurer and the certificate holders.

It also comes with the option between Wasi and Hibah to meet each individual's personal distribution wishes and requirements.