General importance

1. Medical Card
2. Life / Personal Accident
3. Critical Illness / Waiver of Premium
4. Other riders

I'm sure they do, what prompt you to look into deferred annuity ?

In the short term, term insurance is cheaper although the cost will slowly increase overtime. You may also notice that term insurance may only cover up to 70 or 80 yrs old depending on the insurer.

If you're looking for long term without worrying that a policy is not renewable, then taking an ILP to setup a trust is easier.

Cash and Properties (fully paid) can be used as a trust

Don’t think there is such plan for early payout yet, normal critical illness yes

Oic, well it’s more of a [fail-safe] in the event that you pass on earlier than you can wait for the money to be accumulated.

Just don’t expect high % of return, if you can accept this fact then it’s a viable plan for your financial planning

What’s your budget, age, gender, smoker or not and your occupation

And the amount you’re paying for it at the moment ?

That depends on your current budget and what your future planning for yourself with the salary that you’re earning at the moment, will probably need to talk to a life planner to help you understand your insurance better.

Alright let me get back to you as my software is facing some issue

A person earning 40k - 60k annually, should cover at least 5x to 10x of their income, in this case 200k - 600k.

That being said, it also depends on the individual’s commitment, if they have commitment that is over 50k/yr (not including savings), which means this person would have surplus of 10k to do other things which includes buying insurance or investment.

For starters I would get a medical card first in this case A Plus Health and the balance to get as life insurance

Seems like a very old policy to still have lifetime limit. Probably it’s best to review the existing coverage ?

Sad to say there is nothing much to distinguish, insurance is still an insurance, it's akin to saying "Can an Apple tree grow an orange?"

Get what you need to cover yourself

Single premium is a one time payment like MRTAs where it's paid in 1 lump sum upfront.

Regular premium is where you paid on a regular monthly / quarterly / semi annually / annually to your insurance premium such as an investment link or a traditional policy.

On the payment term whether a shorter or longer tenure is applicable for you depends on your objective of the coverage and your personal finance planning. If a shorter term is more suitable for you and you have a lot of cash flow, then it's not an issue to quickly paid off the policy so you can own a policy that is fully paid. However if cash flow is an issue then perhaps you can resolve to pay it over a longer term period.

There is no such thing as free insurance, he must have either paid it for you to get the policy inforced.

Make sure you get him to issue you the receipt of the payment made.

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.

Nope I’ve never bought any medical card online before, you can try it ur self and let us know the experience.

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.

I think the figures are a little exaggerated in the ads. Probably that AIA agent portrayed a wrong message through the ad they've create.

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.

yeap you're right =)

Yes you need to have a AIA insurance policy to register for Vitality

Most insurance company will accommodate to your request to review your exclusion clause, depending on whether improvement on your health status will allow you to appeal for the review.

Yes

This post has been edited by lifebalance: Feb 13 2019, 04:23 PM

if your situation has really improved to the point that the underwriter deem that it's unnecessary to impose the exclusion, then I don't see an issue on the insurance company removing the exclusion.

Success rate depends on how positive is your doctor's comment and report on your situation. Just be wary that not all diseases / disability are given the same verdict on the appeal and its on case to case basis.

Investment link policy = insurance + riders ( add on benefits ) + savings/investment

medical insurance is a rider itself, you can also purchase it on its own without an investment link policy. But you can't add on any other benefits as compared to an investment link policy

Where as an investment link policy may include your
1. Medical Insurance
2. Death and Disability benefit
3. Critical Illness coverage
and etc

so what's ur take ? don't buy insurance because don't want agent to earn any commission ? that's akin to saying I buy Nasi Lemak from Aunty but I want the cost price only for the ingredient, not for the Aunty's hard work to wake up in the morning to prep the food, bring it to the stall, serve it to you.

Sure la insurance company got ways to earn from you if they run under investment link, e.g investment charges etc.

It means ur premium you're paying not is not enough to cover the cost of insurance, if you don't top up = ur policy lapses

well seems to me you're buying the insurance for the wrong reason if its just because of some cash reward, an insurance policy is a long term commitment to ensure you're covered for a long period of time.

Besides the cash reward, what other benefits do you see yourself worth taking up this policy ?

I use AIG personally, it's good enough

You can refer to the AIA website for the list of it or contact ur agent for assistance.

I know someone who can help you