Welcome. If you walk in branch yourself. Get extra 15% discount (no agent). Strongly recommended if you know how to deal with insurance stuffs. Else just let our insurance expert agent to deal with.

Most of the company do allow(but not all). As far as I know, most recent medical card do allow to claim deductible from other insurance company or group insurance.

Under normal circumstances, only insurance chargers will be deducted from your cash value.

Hi guys,
i am sure there's a post somewhere that says how much of a % we should allocate for our insurance.

i have this insurance many years back, easily close to 20 i think.

I have never top up before so the coverage, if my memory is correct, should be around Rm100~Rm150k.

Recently my agent been whatapps me asking if i plan to increase, as the guideline he understnd would be 10% of our income.

The plan i have, is definitely <10% of my income.

So is it true that 10% is the guideline? Or there's other factors i should consider as well?

it's not fixed at 10% of your income, that's just a rough guideline.

In terms of how much insurance you should buy, depends on your priority in life. Some people spend 15%, 20% or 5%, depending on how much they would like to spend on insuring themselves.

Some people spend 10% of their income into insurance but finds that they're still under-insured.

I see. Thanks for the info bro.

The reason why i am pretty reluctant to increase was, i have been paying for close to 20yrs, and i have utilize them zero times.

Granted i would not want to use them if i have a choice, but i felt like its kind of throwing money into sea.

Eventhough it's not alot at Rm300/month..but for RM3.6k per year x 20, it's RM72k already....that's money i can use for alot of things.

So kind of in dilemma.


Added : Also, there's RM150/mth or medical card..never use them for past 20 yrs also. That's another RM36k.

All in all, RM72k + RM36k = RM108k..i can buy a vios with cash and still have over 15k for petrol and modding

This post has been edited by Level 60 Wizard: Feb 25 2019, 04:51 PM

well you don't buy car insurance and hoping to get into accident one day to finally get to claim the car insurance right ? even though every year you can be spending RM1000 for it which you can spend to eat nice dinner buffet and some beer for a few days / weeks.

Thing is, the benefits can't be compared to what you use on a daily basis. Unless the insurance plan is really obselete.

i.e paying 3600/yearly benefit for a RM50,000 payout / annual limit.

Then it's more advisable to keep the money and invest yourself to grow that money.

the older a car, the chances of breakdown become more,
the older one gets, the chances of sickness become more.




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Got it bro. Good sharing. I guess it's time to review my payout/annual limit coverage and see how much it is compared to what i have paid close to 20 yrs.
Thanks again!

there is no fix % to allocate for your insurance premium. 10% is like a simple guideline/reference.

whats your age? perhaps with RM300/month now you can get sth better compared to what you have now. perhaps you can explore and talk to your agent first?

Yup. THat's what i plan to do 1st. Discuss with my agent. I am 41. So i reckon insurance wont be cheap now lol

Thanks bro!

41 is not that bad la.

Insurance will never go cheaper, unless there is a reduction in medical cost in the market. Good luck

hi, wan to get suggestion.
my dad is 54 this year. i want to get him a medical card but i believe it will be very expensive by now.
the previous medical card he have have very low annual limit.

do you suggest me to get one for him (around ~4-5k annually) medical card or ask him to go to government hospital in case of emergency?

its always better to have a medical card to opt for any better treatment option that is available rather than just gov hospital.

and I believe 54 premium is still affordable la, not yet 4k - 5k yet, 2k - 3k is doable.

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

300 permonth can insure 500k with 300k CI already nowadays.

Edit. Sorry. 41 maybe way higher.

This post has been edited by [Ancient]-XinG-: Feb 26 2019, 02:41 PM

wah..guess i have been paying high monthly payment with really minimal protection/coverage.

thanks bro. will discuss with my IA and see.

Sorry. I only got to know you're 41. So. Can be way more than 300.

Haha. Still, thanks for the sharing bro

Hi , thank you 2 sifus for your advice.

Just 1 thing I don't understand. Why insurance usually comes with life/tpd?
I suppose life/tpd/36ci only benefits your next of kin instead of yourselves.
so i personally do not think it worth the money as you wont be able to use it.

i also dont understand why usually people opt for private instead of gov hospital.
i heard some of the case where the equipment in private hospital is less than gov hospital.
in the end need private reference to gov hosp?

as for the option1,2,3. what is the main different? i suppose this one is 1.1mil per year by A*A.
the only different i see is the deductible? is that important and justifiable for the huge difference in premium?