QUOTE(likitsaelee @ Jan 2 2019, 05:56 PM)
Hi, any prudential agent here?
I got a quotation from an prudential agent about PRUvalue med just now.
I am thinking to get this plan for my father (49 yo/smoker/occupation class 3) with 20k deductible, board rate 100.
Life insurance: 20k (I don't need this, but the agent says must buy).
Premium: RM 160
According to the calculation given by the agent the plan can sustain until 76 yo, but i can top up if i want to extend the coverage.
Questions:
1. Is it correct that i must buy the life insurance to buy PRUvalue? I don't need this.
2. One thing i noticed is that the agent can adjust the premium, the only thing changed is how long the plan can last. Does it mean that i can pay a minimum amount initially, and top up accordingly as i got more money in the future?
3. Since i am buying the plan for my father, in which i will be the one paying. Am i eligible for tax relief?
1. Age next Birthday 50, RM20k deductible, R/B 100, premium RM100/mth
Min Life Insurance can go down till RM10K,
Projected sustainability high -> 78, low -> 73
2. Yes you may top up for the plan sustainability whenever you are able to.
3. No, you can't. For the Life Insurance Tax Relief (epf+life insurance), it is only able for tax relief for yourself and spouse. No parent.
For the medical/education insurance tax relief (RM3K) is for yourself, spouse and/or children. No parent
Obviously the above refers to 2017 tax relief. It should be the same for 2018 except that life insurance and epf has been separated as announced by LGE.
This post has been edited by roystevenung: Jan 4 2019, 12:29 AM