Depends how you die. Die due to accident, both cover. Die due to not accident, only life cover.

Not enough returns then you need to match the difference. Depending on your age band and sum assured the difference fluctuates quite a bit. Would be easier if you already have a product and premium to compare...

Best,
Jiansheng

This post has been edited by Holocene: Apr 12 2019, 10:39 PM

Pro tip:

You can always get your agent to put the date of birth at 1/1/1954 then you can easily see what's the COI is.

Best,
Jiansheng

As far as I'm aware, it will be considered under the medical portion. Unless GE treats it differently as noted by honeydewboy.

When in doubt, you can request the statement from your agent or extract it from your customer portal, it will show you how much of your premium goes to life and medical.

Best,
Jiansheng

Hi,

Understand your concern but do you mind sharing the medical card name?

I'm not aware of Allianz having a medical card with an annual limit of RM80k and with no lifetime limit 🤔🤔🤔

Best,
Jiansheng

Hi,

Do you mind sharing with us which Investment Linked Plan (ILP) you are referring to that has an early termination/surrender penalty?

Best,
Jiansheng

You need to understand that you can always top up your cash value in the future if you need to.

2 Most important question you need to answer right now are:

"What and how much coverage do I need" and;

"How much can I set aside for my personal insurance."

Do note that your protection plan and needs are ever changing which could be due to updated products, costs or even your life circumstances, my rule of thumb is that if the premium in the client's projection table is able to absorb the COIs for at least 27 - 30 years based on the low scenario they are good to go. Of course it really comes down to what the client's financial standing is. Hence it is important for you to go through the "Know Your Customer (KYC)" process with your agent.

Discuss with your agent and understand base on your current financial standing, what would be the best option to go for.

1) Pay more premium for longer sustainability or;
2) Pay a fair premium now and save/invest the rest yourself and only top up in the future when the need arises.

Best,
Jiansheng

This post has been edited by Holocene: Apr 29 2019, 01:56 PM

Assuming you've done a thorough analysis of your coverage needs there is no problem consolidating your life insurance into 1 ILP, IF your needs allow it.

Because it also depends on how much coverage you are looking to get. For example if you are looking to get > RM500k in life coverage you might be better off signing another ILP just for that as it might have a lower COI overall which will save you thousands in the long run.

So again, it goes down again to your situation.

Best,
Jiansheng

This post has been edited by Holocene: Apr 29 2019, 02:24 PM

PowerLink is the ILP bro, whats the medical card name?

RM89k is for Life/TPD. Please be aware of child lien rule on that part.

Best,
Jiansheng

I suppose when the GE agent said "saving" it's the same as the Allianz agent saying "investment".

You can refer to your policy for further details on the "investment".

Best,
Jiansheng

Mind to share this saving table that is provided for GE? First time I'm hearing that GE has a saving table for its ILPs.

Other GE agent here do educate me if it's something new.....

Best,
Jiansheng

Rather than settling for a combo that is offered by an agent suggest you think about the following first:

When planning for your insurance consider these:

*Life/TPD:*
In the event of Death/TPD how much will my dependant/me need to survive for X number of years? Do I have any liabilities to be cleared to ensure my estate distribution goes smoothly?

*Medical Card:*
Would I prefer a single or sharing room? Would I want a medical card with unlimited lifetime limit?

*Critical illness:*
In the event of a critical illness, the sum coverage will be your income replacement during your recovery. How much do I need?

Once you think about these questions then you can go into determine the right sum assured for you and then only work on the premium with the agent.

BTW a general rule of thumb is if you're allocating 6% - 8% of your monthly income to insurance you are ok.

Best,
Jiansheng

It is just a guideline in terms of budgeting/financial planning as your premium will be affected by the following:

- Age
- Occupation
- Sex
- Smoker/non smoker
- Coverage

Find out your insurance needs first then you can discuss premium with your agent once that has been worked out.

The amount of premium paid is not the right indicator to determine if you’re over insuring yourself. Whether you are over insuring yourself depends on “Needs VS Coverage”.

Best,
Jiansheng

Hi sifus,

Sorry for the long post-

I'm new to insurance and I'm looking to get my first policy and been researching around:

Basic background, 24yo female, single, office job




What you are referring to is the Sum Assured Multiple Allowable which is affected by the annual premium and the riders attached. Whether it is necessary to get RM50k depends on each company.


Whether it is necessary or important is up to you. Get an agent to do a Needs Analysis for your review. Also, when it comes to Critical Illness coverage do take note of the following:
- Survival Clause
- Type and stages of CI covered (Early to Advance or only Advance)
- Payout %


You got it!

Let me throw in Allianz for your consideration:

- Life/TPD: RM5k

- CI (Early - Advance): RM100k
-- Cancery Recovery: RM35k
-- Diabetes Recovery: RM20k
-- Catastrophic CI: RM20k

- R&B200 - Until 91 years old
-- Annual Limit: RM1mil
-- Lifetime Limit: None

- Waiver of Premium

RM196/month
Sustainability: 62 - 70 years old.

P/S: This quote is done based on your existing proposals.
PP/S: Suggest you get the full quotation for AIA and GE.



You are on the right track. What you need to do next is a Needs Analysis where the agent will run through your risk and how they can manage the risk via insurance. Once you know what you need, then you can discuss premium.


Given your dad's age and occupation he will be looking at a premium north of RM8k a year if he gets a medical card similar to yours. Once he retires, he can inform the insurance company and get his premium revised.


One word. Declare. Then wait for deferment/offer from the company. If not satisfied with what you get, appeal. Your mum concern is very real in the sense that the insurance company has the right to void the contract.


Great to see youngsters doing their homework on insurance. All the best!

This post has been edited by Holocene: Jun 8 2019, 02:28 PM

You do get the benefit hence the worth is there. But whether you need it is another question 🤓

Best,
Jiansheng

You can opt to increase your other benefits instead then 🤓

Only the 50 ringgit portion.

You can request to top up via their investment portion rather than premium if your sole purpose is to increase the sustainability.

Best,
Jiansheng

Thank you for trusting your child's insurance needs to Allianz.

Best,
Jiansheng

Just check who is the policy owner.

Best,
Jiansheng

Premium for ILP are NOT fix, in a sense.

As the COI is not fix and could out grow the premium and cash value, there is a chance you will need to pay more than your premium in the future.

Best,
Jiansheng