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> Insurance Talk V5!, Anything and everything about Insurance

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cucikaki
post Feb 2 2019, 01:24 AM

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QUOTE(Holocene @ Feb 1 2019, 06:37 PM)
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
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Email of 31/1 is To make first payment. However, agent said he paid for me already. Today i receive email saying that my policy is enforce on 1/2/2019.

So actually im paying my february policy myself? I asked a friend who took insurance recently with prudential, there no ‘registration fee’. And no cashback from agent also.

So i feel like this so called ‘cashback’ for february actually doesnt even exist?

user posted image
Holocene
post Feb 2 2019, 07:23 AM

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QUOTE(cucikaki @ Feb 2 2019, 01:24 AM)
Email of 31/1 is To make first payment. However, agent said he paid for me already. Today i receive email saying that my policy is enforce on 1/2/2019.

So actually im paying my february policy myself? I asked a friend who took insurance recently with prudential, there no ‘registration fee’. And no cashback from agent also.

So i feel like this so called ‘cashback’ for february actually doesnt even exist?

user posted image
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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
lifebalance
post Feb 2 2019, 11:58 AM

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QUOTE(cucikaki @ Feb 1 2019, 03:12 PM)
Ya, he did pass me the insurance receipt for RM200 payment. He paid in advance. (Just that the receipt has no indication that the payment is for registration or monthly premium for feb)

However, for february, i need to pay rm200 (registration/application fee) + rm200 (monthly premium).

He said monthly premium will be covered by him for february, but i need to pay registration/application fee. Is there such thing?

My family members were under great eastern, and they never encountered such thing as application fee.
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Hmm sounds to me that he pre-pay the premium for you.

Question is why didn’t you just register for debit/credit card payment, hassle free and don’t need to transfer here and there.

QUOTE(cringe @ Feb 1 2019, 06:59 PM)
Anyone here applied medical insurance through online?

I saw Manulife is selling their medical card through online. I'm quite interested actually to apply for the medical card when I read the way we need to make claims if we admitted to the hospital.

AXA Insurance also doing the same.

https://www.manulifenow.com.my/Claims.aspx

https://www.manulifenow.com.my/ManuEZMed.aspx
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Nope I’ve never bought any medical card online before, you can try it ur self and let us know the experience.

QUOTE(cucikaki @ Feb 2 2019, 01:24 AM)
Email of 31/1 is To make first payment. However, agent said he paid for me already. Today i receive email saying that my policy is enforce on 1/2/2019.

So actually im paying my february policy myself? I asked a friend who took insurance recently with prudential, there no ‘registration fee’. And no cashback from agent also.

So i feel like this so called ‘cashback’ for february actually doesnt even exist?

user posted image
*
Like I said there is no such thing as free insurance unless stated otherwise by the insurance company before signing up.

Maybe the agent is desperate for your sales to key into the figure for January that’s why he quickly pay for you first and now need you to pay him back for the prepayment.

Anyways no hard and fast rule, if you feel so much issue just for this policy, you can feel free to free-look the policy and get a refund.
nicklim17
post Feb 4 2019, 12:02 PM

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Hi good morning gxfc and happy holidays all.

Would like to know below 2 items more.

1.Regular top up option. Sum assured 378 premium 378
2.complimentary term rider 2. Sum assured 25k premium 0


From HLA. Thanks
TS roystevenung
post Feb 4 2019, 11:32 PM

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QUOTE(cucikaki @ Feb 1 2019, 09:20 AM)
Hi. I applied for PruBSN Anugerah Plus insurance on 30/1.

Receive email on 31/1 from prudential on the confirmation.

Agent say the coverage start 1 february.

But he said my february contribution is free. Will only deduct from credit card march onwards.

However he say need to pay application fee one time which is equivalent to my monthly contribution. Is this true? Need transfer to his personal account as he paid the fee upfront for me yesterday upon registration.
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Well since the agent has agreed to pay for you on your behalf for Feb payment, to be extra cautious, just tell him/her that you'll only pay him (RM200) once you sighted the policy document or the e-policy confirmation papers together with the original receipt from PruBSN.

The practice of agent paying first is not encouraged to minimize on fraud, but some agents are still doing it to get the case approve faster. Insurance is always cash before cover. No cash no cover, simple as that.

FYI, PruBSN has started (since last year) e-policy document therefore if you had opted for e-policy, the hard copy policy book will not be given. Instead it can be downloaded off PruBSN Touch Online Portal.

You can register for the PruBSN Touch (after 5 working days upon policy acceptance) to view your policy details PruBSN Touch Registration/Login

For PruBSN payment related -> PruBSN E-Payment

This post has been edited by roystevenung: Feb 4 2019, 11:41 PM
infrasonic
post Feb 5 2019, 03:05 PM

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Need some insurance advice from sifus here.

I will be studying abroad soon (degree) in Europe, and I'm wondering if travel insurance can cover my stay there.

Since I travel a lot, I find buying an annual travel insurance will be worth it as I've counted the insurance I've bought for all my trips last year, and it sums up to a hefty amount, more than 2x of the price of annual travel insurance.

Thing is, will my stay be covered when I'm studying abroad? Since I'm not really there for travelling.
ragk
post Feb 5 2019, 11:00 PM

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*deleted*

This post has been edited by ragk: Feb 5 2019, 11:15 PM
MUM
post Feb 5 2019, 11:33 PM

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QUOTE(infrasonic @ Feb 5 2019, 03:05 PM)
Need some insurance advice from sifus here.

I will be studying abroad soon (degree) in Europe, and I'm wondering if travel insurance can cover my stay there.

Since I travel a lot, I find buying an annual travel insurance will be worth it as I've counted the insurance I've bought for all my trips last year, and it sums up to a hefty amount, more than 2x of the price of annual travel insurance.

Thing is, will my stay be covered when I'm studying abroad? Since I'm not really there for travelling.
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interesting subject...
thus while waiting for real sifus to response....I googled and found this....
just not sure if it is still valid or this terms is same with other companies...

from their FAQs..
I am going overseas for training/ studying/ working/ charity for long period of time. Can I buy a AXA travel insurance?
No, our travel insurance are only meant for leisure or business purposes.

https://digital.axa.com.my/travel-insurance...asked-questions



SureshG
post Feb 6 2019, 12:53 AM

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QUOTE(infrasonic @ Feb 5 2019, 03:05 PM)
Need some insurance advice from sifus here.

I will be studying abroad soon (degree) in Europe, and I'm wondering if travel insurance can cover my stay there.

Since I travel a lot, I find buying an annual travel insurance will be worth it as I've counted the insurance I've bought for all my trips last year, and it sums up to a hefty amount, more than 2x of the price of annual travel insurance.

Thing is, will my stay be covered when I'm studying abroad? Since I'm not really there for travelling.
*
Most travel insurance have a 90 day cap.
infrasonic
post Feb 6 2019, 03:59 PM

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QUOTE(MUM @ Feb 5 2019, 11:33 PM)
interesting subject...
thus while waiting for real sifus to response....I googled and found this....
just not sure if it is still valid or this terms is same with other companies...

from their FAQs..
I am going overseas for training/ studying/ working/ charity for long period of time. Can I buy a AXA travel insurance?
No, our travel insurance are only meant for leisure or business purposes.

https://digital.axa.com.my/travel-insurance...asked-questions
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Bad news for me then, can't take advantage whistling.gif

QUOTE(SureshG @ Feb 6 2019, 12:53 AM)
Most travel insurance have a 90 day cap.
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Means if I'm staying at a place longer than 90 days then I'm not eligible for it? Or if I buy the annual plan I can only travel 90 days per year? hmm.gif
What about for my flights to and fro there for my visits back home?



I've sent AXA an email, will update you all what they say
shodan11
post Feb 9 2019, 06:31 PM

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Hi all..

I came across an ad post on Instagram, something about having 400k savings under some AIA takaful plan, contribution as low as 150/month. What plan is this, any sifus know about it.

If yes, how does it work & what is the premium paying term, sum assured etc. Wonder how does 400k come from and for how long.
lifebalance
post Feb 10 2019, 01:05 AM

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QUOTE(shodan11 @ Feb 9 2019, 06:31 PM)
Hi all..

I came across an ad post on Instagram, something about having 400k savings under some AIA takaful plan, contribution as low as 150/month. What plan is this, any sifus know about it.

If yes, how does it work & what is the premium paying term, sum assured etc. Wonder how does 400k come from and for how long.
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I think the figures are a little exaggerated in the ads. laugh.gif Probably that AIA agent portrayed a wrong message through the ad they've create.


shodan11
post Feb 10 2019, 01:35 AM

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QUOTE(lifebalance @ Feb 10 2019, 01:05 AM)
I think the figures are a little exaggerated in the ads.  laugh.gif Probably that AIA agent portrayed a wrong message through the ad they've create.
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I see 😅. Yeah..could be. He kinda said it is a 'hybrid plan'
which consists of protection + saving with ?returns/dividend around 10-12%. My further reading points me to A-Life Signature (maybe).



ckdenion
post Feb 10 2019, 05:34 PM

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QUOTE(MUM @ Feb 5 2019, 11:33 PM)
» Click to show Spoiler - click again to hide... «
you are not only very informative in other forums but also here as well. Thumbs up for you! thumbup.gif

QUOTE(shodan11 @ Feb 9 2019, 06:31 PM)
» Click to show Spoiler - click again to hide... «
should be a plan that comes with 400k life insurance. for savings part, i will say buy it because you need the life insurance not because wanting to save. 2 different purposes.

QUOTE(shodan11 @ Feb 10 2019, 01:35 AM)
» Click to show Spoiler - click again to hide... «
bare in mind of all the charges incurred. basically it is a investment-linked plan (a.k.a 'hybrid plan'). A-Life Signature is not a takaful plan but the takaful plan with such benefits should be referring to A-Life Signature-i.
shodan11
post Feb 10 2019, 06:41 PM

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Yeah..it could be misleading to some people. I've got myself covered recently and will review back in a few years. Just looking for some saving/investment instruments (maybe that insta ad came based on my recent search) and I also believe life insurance should be purely about protection/income replacement.

Haha..ya, should be A-Life Signature-i, forgot to put Islamic earlier as per takaful plan.

This post has been edited by shodan11: Feb 10 2019, 06:43 PM
alexkos
post Feb 11 2019, 01:54 PM

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hi, finding senior medical insurance for my dad.

pls quote 67, male, smoker, mild hypertension (but controlled).

tq
alexkos
post Feb 11 2019, 09:16 PM

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Want to ask.... Let's say my ILP monthly premium is Rm300 per month... Insurance charge is rm100 per month...

Assuming that I already in the 7th year, which means 100% premium allocation to purchase unit....

Question: can I contribute variable premium from this stage onwards?

E. G... Contribute Rm200 per month... Since inside got some cash value buffer...

If do it between y1 to T6, how will it affect agent distribution cost?

Tq
lifebalance
post Feb 11 2019, 10:17 PM

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QUOTE(alexkos @ Feb 11 2019, 09:16 PM)
Want to ask.... Let's say my ILP monthly premium is Rm300 per month... Insurance charge is rm100 per month...

Assuming that I already in the 7th year, which means 100% premium allocation to purchase unit....

Question: can I contribute variable premium from this stage onwards?

E. G... Contribute Rm200 per month... Since inside got some cash value buffer...

If do it between y1 to T6, how will it affect agent distribution cost?

Tq
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You may contribute or change your premium contribution at any point of time, just be aware that your policy may lapse faster than usual if you reduce your premium contribution.

If you do it between year 1 - 6, it just reduces the amount of commission your agent earns as well as your policy being lapsed at a faster rate.
alexkos
post Feb 12 2019, 01:47 PM

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QUOTE(lifebalance @ Feb 11 2019, 10:17 PM)
You may contribute or change your premium contribution at any point of time, just be aware that your policy may lapse faster than usual if you reduce your premium contribution.

If you do it between year 1 - 6, it just reduces the amount of commission your agent earns as well as your policy being lapsed at a faster rate.
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I can track my cash value. So as long as it is above water, no prob right?
lifebalance
post Feb 12 2019, 02:52 PM

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QUOTE(alexkos @ Feb 12 2019, 01:47 PM)
I can track my cash value. So as long as it is above water, no prob right?
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yeap you're right =)

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