6000 for life insurance/epf
3000 for medical/education

This post has been edited by lifebalance: Apr 5 2019, 02:33 PM

PA is under Medical or Life? or Neither one

Guys,

I got the following from GE for my medical card policy:






The other FAQ page didn’t seem to say that my policy will lapse if I don’t pay.

Some background on the policy:
- started 2007, paying RM150 per month
- have been paying for 12 years
- protection I’m paying for: RM100,000 med card and 100,000. I think the amount is shared.

I do not want to increase the premium, am I still eligible from protection? Owing to the fact that I have already paid well over 20k for the pass 12 years.

PA not considered

It's just a suggestion, if you don't follow then it will slowly deplete until it lapse.

You're still covered until the policy lapse

Thank you, much appreciated.

Funny, I kept reading the FAQ and GE did not highlight the consequences.

It’s a whopping 26% increase of premium to the same amount of protection. Either my maths fail or this does not make any sense at all.

it's common logic I guess, if you don't have enough $$$ to pay for insurance charges, then the service won't be rendered further to you. Just like any other services out there.

As for increase in premium, that's probably to upkeep with the insurance cost in the market as well as your insurance portfolio has insufficient cash value to last long term.

sorry to revive old topic, but i think it's quite impressive your friend's total cash value is more than yours at all.
assuming both of you are around the same age, same medical condition, etc etc. your friend's higher premium indicates that she has much higher coverage in terms of life, medical, maybe critical illness etc.
there is a break off point of cash value, or fund invesment where you will see a sudden acceleration of the value/amount.
it's some sort of simulation that the insurance company feel that your balance's interest/earning can cover the rising costs every year
after that break off point, 95%? (maybe, example) of your premium will go into cash value/ funds invested

to cover higher coverage, you will reach the break off point later. but after the break off point, it will increase much faster.
for research purpose only, we can look at the difference again after 2 or 3 years.

i'm not proper insurance guy, but i think there's some relation between these stuff

hi bro, do you need help? I can help you check with this policy.

I was told by an Allianz insurance agent that ILP is always cheaper than a standalone medical plan + add ones (or is the term riders?), something like 2x more expensive..

Doesn't make sense to me as from my understanding about ILP, you are paying a higher premium (compared to non ILP) for the investment portion.

P/S: Any AIA agent here? Feel free to PM me. Other agents are welcomed too!

The product name that I acquired is not listed in the letter. Did some digging through my old GE statement, this is the product name:

Great ProtectLink Insurance
IL-health protector
Critical Illness Benefit

not really 100% true on the "always cheaper". It's a subjective matter on what perspective you're looking at.

hi bro, I PM you now.

Hi bro, I PM you.

Yes I want to get more info about these. If a director has cancer, how many months will he continue to get salary? Insurance covers this? And will insurance cover the cost to find a temporary replacement for the ill director to run the company until a new permanent director is found?

For keyman insurance, the amount of salary to be given depends on how much critical illness coverage you've bought for him.

Technically for this "insurance cover" for the temporary replacement, you will need to add on more into the critical illness payout.

Depending on the time you need, like 1 year period = 12 mths x salary / cost of hiring

The company has the right not to pay the director whether in the form of director emoluments/wages or director fee, if the director is deemed not fit to perform the job.

Director is also one of employee of the company, company can opt for "no show no pay", just like any ordinary employee.

I do not see there is a need for keyman insurance, if the company can run without the director.

Just wondering, the coverage you r looking for “director” is the business owner of the company? Or just an ordinary employee?

Eg: if an ordinanry employee absent from work due to critical illness, 6months full pay salary, another 6months 1/2 month salary. 1 year later should be unpaid leave till recover. Depend how the company HR arrange the contract. This is just an example.

If the company director (business owner) then all directors should get a key man insurance and a buy sale agreement where you can set the conditions of company shares and etc.

If walk in allow with cheaper premium then the insurance company is killing their own agent😃😃

Recently I have helped 1 customer reviewing on this policy which bought ard ur time back in 2007. After reviewing, the medical under this IL-Health Protector was belong to 1st Gen medical plan where the annual limit is ard RM50k and lifetime limit 200k. And now company announced to increase price for this medical card.

So instead to increase Rm40 and maintain at this 1st Gen medical card, I’m helping her to upgrade the medical card to 3rd gen medical card where 1mil annual limit and lifetime unlimited on the existing policy. Premium from Rm150 to Rm200+ Do check out with ur current servicing agent.

may I know why the co want to increase price knowing that the benefit is much less compare to later gen? what is their justification?