For a non- insurance person, that is somewhat a "canggih" planning.

The cons will probably be, if 10 years down the road your planning defers, you may need to buy another short term plan at that time. It's not fully flexible.

Because it so cheap that I can't ignore it..it called ladder strategy or something..I shopping around and I can get around only 160-170 for 1M (34yo)

Sounds like you know what you are doing then. You are right. Since you said it is cheap, then have to accept some small disadvantage

To answer your question, I don't think it's unethical to obtain life insurance for your aging parents. What probably you could do is try reframing their mind-set on the purpose of you wanting to insure them at this age, this may help alivate concerns that they may have.

Awareness Posting/Sharing, thus, others can adjust / take necessary steps to avoid my current pains

Situation:
1. Have bought/paid Pru Senior Med for my mum tens of years back, who's now nearly 80

2. Just had non-elective surgery - i paid first since non-panel hospital, which is well-known for such surgery and is cheaper overall.

3. I'm the registered nominee/trustee, with my email and mobile number registered. i've even PruAccess Online due to these.

Claims
4. Scanned a copy for myself & sent in all the docs
5. Pru sent SMS stating received, WIP, WIP, which is fine
6. Then today SMS received stating "RM0.00 PRUDENTIAL: Additional requirement(s) needed for claim no:XXXXXXX, LIX XXK XUX, pol no:XXXXXXXX as per the letter issued.
7. I called and this was the last straw - Pru call centre insisted to have my mum call in/speak. Sigh.. even after explanations / suggestion on the below items.

Pains
a. Throughout the process, PRU kept insisting to speak with Policy owner, my mum - who's not recovered enough or i'm not always with her when i'm executing.

b. Pru kept insisting i go through the Agent - which we know mostly are all missing in action. Why push authority to the Agent when I am the registered nominee/trustee (sorry cant recall exact terms now)?

PDPA? PDPA is to stop abuse of data owners' data. This is for the benefit of the data owner - PDPA does NOT apply.
In fact, i asked PRU to send TAC or anything to the registered mobile # and email of the policy owner OR even PruAccess Online, and i can read it back to them because i'm the own paying, executing & managing it for my mother.

Still no go, even when i'm the nominee/trustee. I was told, only if my mum dies, THEN ONLY i can act on her behalf for her policy. This really REALLY triggered me.

Bottom line
Only way to go around this is a letter of authority from insured that allows you to act on their behalf for all stuff. Better get this done "and submitted to Pru and approved" BEFORE your parents are too old, signs too differently, etc.

Me - i better do the same for my own hospitalization policies, before i get too old/senile and my kids have to go through the pains, especially without a good insurance advisor/consultant.

Thank gawd Roy is helping me out even when this policy wasnt bought from him (thanks Roy! Mucho Gracias). Else.. urgh.. these SOPS are just ridiculous when there are no exceptions. Heck, even the Law & Acts have exceptions.

Looks as though purposely made to stop $ going out for claims by senior policy holders?

PS:
Come to think of it, having ANY woman speak with them is enough coz i've all my mum's details. Isn't that even less secure? gawd.. the more i think about it.. the stupider the SOP gets

This post has been edited by wongmunkeong: Feb 6 2020, 10:51 AM

Well the fact is that, insurance companies can't simply divulge any detail to anyone who calls in claiming to be somebody, similar to bank accounts where you can simply call and disguise as a family member to check on personal account details. They simply can't do so.

While I understand this is a frustration especially for older folks but at the same time would you like someone in your family to call in to check on your insurance details?

Having the authorization letter does help to get consent from the insured to allow you to act on his/her behalf as the insurance company would not want to be blamed for breach of PDPA. Similar like giving power of attorney to a person to act on his/her behalf.

Cheers.

totally understood
BUT...
1. TAC to policy owner's registered #
OR policy owner's email
OR Insurer's own system for policy owner
VS
2. any woman claiming to be my mum with all her details (from me)

which is safer ar?
process / level 2 or 3 thinking issue leh

3. Also, please be clear PDPA is for protecting an individual (data owner).
The request was to clarify what was further required in the claims since sms was sent to policy's registered mobile #. There was NO request on individual's data like policy info, name, IC, payout amount, etc. since i have all that. I clearly re-iterated the reason for the call and also offered (1.) as verification.

Please dont drag PDPA into this, i can easily drag Competition Act into this - ie. Insurer is purposely making it hard on customers to claim if not using their "panel hospitals". Kickbacks? "Friendly" parties? i dunno - thus, not even dragging in Competition Act ya.

TAC may not apply for all transactions as it requires BNM approval for implementation for insurance companies.

However, I do agree that they should have given the flexibility to divulge basic info as per what is required on your follow up.

Perhaps the officer you've spoken to was no flexible enough or it's just the company's practice.

ya lor, that's the thing.
if front liner cant make decision, escalate lor
if higher ups ALSO cannot use brain / logic to determine when to deviate from SOP.. what's their value add?
might as well buy a computer and fire them

anyhow, the main cheese is against the SOP fler la - the creator, not thinking. sigh..

Hi guys,

First time posting in this thread. Can I check what's the best in terms of coverage for medical insurance? Since can get tax deduct might as well get one. Also what's the process like? Eg last time to buy critical illness needs to go clinic checkup etc, over a certain amount. Appreciate your comment.

Thinking of going with AIA since I am from jb and it seems not many other agencies here. I could be wrong!

Thanks.

Pick your agent is also important.

Depending on the amount of coverage that you purchase, you may be subject to a check up by the insurance company

Hi sifus,

I've been comparing GE & AIA's medical insurance for a while now, hope to get some insights here.

Has anyone bought the A-Plus Health (Plan 200) from AIA? I'm interested because of the Health Wallet feature (able to use the credit inside to claim for health screening, vaccines, special care/recovery benefits etc - provided that no claims were made on that year).

Since I'm insured under my company's group medical plan, I believe I'm able to make use of this benefit. However, I heard the premiums for this plan is high, so it's arguable that my savings in the future will be able to cover up those claims listed in the Health Wallet...

How much will it cost for the premium above + TPD/CI waiver + RM100k assured life insurance? Would really appreciate if I can get a rough quotation so that I can compare it with the GE plan. Fyi, I'm a 24yo female office worker, single w/o dependents.

Feel free to leave your suggestions as well, thanks in advance!

My opinion .. Don't rely on company medical coverage 100%

Company may change the policy. You may change your job.

Can't comment much for A-Plus.
Anyhow you can refer a little info from website PDF here:
https://www.aia.com.my/content/dam/my/en/do...ct-brochure.pdf

It is better you start your own plan since your are young. Is good chance to start low with sustainable premium till age 80.

In my MPOS system (GE), you can get RM250 monthly premium with 100K Life/TPD. With stable low risk fund sustainable till age 80 projection RM60K cash value.
This including TPD/CI waiver, Ladycare. Also R&B & Medical upgrade every 3 policy year if no claim. Can PM me if interest the detail, then can get your agent quote you the similar.

I usually advise friends to compare premium sustainable age. Type of fund choose and fund history check.

You might get many free apple orange in certain plan quote. Ultimately you still need to know your budget and how long it can sustain. Insurance charge increase yearly when we get aging. It is painful to top up monthly premium when the insurance charge can't cover by your investment return & premium pay.

Good day & regards

hey bro, I believed Roy had sorted things out for you. Really sorry for what you had faced. Indeed at times it is not easy to deal with customer service though. btw perhaps you can write in as a feedback to the company.

hi joeblow, different companies have their own benefit over the other. there is no best medical insurance though. of course the main benefits like hospitalization and surgical are mostly covered by all companies. it's only when you buy a very big sum of coverage then only medical check up is needed OR you have certain existing medical condition/history.

hi Wen, if you will like to just compare between GE and AIA, in terms of benefits, definitely AIA has more perks over GE due to the health rewards and health wallets. in another way, more benefits = higher cost of insurance charges too. AIA medical card (released in October 2018) is also newer than GE (May 2014). So whether you will like to get a newer card or a older card, even though annual limit and lifetime limit wise both are almost similar.

hi guys, want to ask if having gastric before i signed up for my policy is considered pre-existing condition? insurance company wants to add loading for my policy and exclude anything to do with gastritis. thanks

I remembered a friend of mine had exclusion on that and any things that are related to/at that organ(s) too.
his agent told him that if the policy had been held for more than 10 years without reoccurrence of that illness, then he can ask for "waiver" to the exclusion which would be subjected to the insurance company......

Yes they will have the right to impose loading or exclude treatment since it's pre existing

ouch, hope your friend is doing ok

ok thanks

Hi all insurance gurus, any advices?

my dad had brought a AIA insurance around 10-20 years ago (as what i remember we got pay punctually for around 7 years like that)
but due some financial issue we had stop paying it 7 years ago,
can my dad still walk in AIA and check any cash from policy can be witdraw for his retirement use?

but i saw the article below on their website....means all burnt?? i was student before and unaware this clause , if not i will ask my dad witdraw all cash value out...

b) If your policy has enough cash value, an Automatic Premium Loan (APL) will be triggered if premiums are not paid after the 31-day grace period.

This means the APL will be used to cover your unpaid premiums. Once your policy’s cash value is used up and the outstanding premiums are not paid, the policy will no longer be active. Please note that interest is charged on the APL at the current rate, which is subject to change.
https://www.aia.com.my/en/help-support/faq.html

This post has been edited by propertymart: Feb 14 2020, 11:37 PM

not an insurance gurus or anything at all ..... just encountered some of it recently....
bought 10~20 yrs already...but just managed to pay for 7 yrs...
that means about 10 yrs did not pay premium...

very high chances of what ever cash value had been accumulated in the 7 yrs had already been used up.....
(my experience recently, I had paid for 10 yr premium of my son's insurance......found out that it had not enough cash value inside to pay for 1 month premium)

yes, you can call up the insurance company to enquiry about the status of the policy....