I'm 27 years old currently with a job paying 3.6k before deductions. my first job and just started working since Nov 2017

planning to get myself an insurance soon but not sure where to start

was approach by some Great Eastern agent previously and got offered medical + life combo for RM200 and 250 however I'm not sure if I should pay so much?

any sifu here pls advice

while waiting for responses,...
try read these for some info...

buying 1st insurance plan Malaysia
https://www.google.com/search?source=hp&ei=...i21.HRX2fzw3Ef4

Is it AIA insurance can cover Malaysia, Singapore while Great eastern only in Malaysia?

Anybody here can provide a 1 to 1 comparison of the premium that needs to be paid by both assuming the sum insured is same.
For medical insurance. something like RM99k per year/life time unlimited
And the CI coverage including tpd etc..RM200k sum insured.

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

different insurance company may underwrite the case differently depending on the underwriter. you may try if you want to.

You're the judge of your own budget to spend on an item, whether it's a telephone plan, a car, a house, etc.

If it's beyond your mean then you've probably overspent.

An insurance plan will be more or less the same, depends on how much protection you are buying for yourself, if you think it's worth spending 200 / 250 monthly for it, then go for it. otherwise dont.

Not necessary, the plans that normally covers Singapore as well are on the higher range which requires you to pay a higher insurance premium.

thanks. this made it slightly more clear to me

It's usually depends on you want to focus on Medical Card only or you want focus on life + medical ? And how much do you willing commit every month on it? It's really depends on you on this part. However, if your company does provide you a basic a medical card; I will suggest you to get an ILP medical card incase you move on from the company in near future.

Great Eastern does cover for Singapore also, but you are required to pay first then only claim back from Great Eastern.

"Doctors told his family he had a month to live and recommended seeking treatment elsewhere, as the latest treatment was not available in the country.
The family from Selangor rushed to Singapore to seek a special treatment called chimeric antigen receptor (CAR) T-cell therapy. It involves using the body's own immune cells to recognise and attack malignant cells."
https://www.nst.com.my/news/nation/2019/05/...icken-msian-boy

Medical plans in Malaysia which only covers treatment in Singapore based on Malaysian Reasonable & Customary Charges, would have to cover such expenses for the case above?

I do know Allianz MediSafe Infinite Xtra covers treatment in Singapore based on Singapore Reasonable & Customary Charges. But there is a 10% co payment charges (depending on plan). I don't think any other medical plan in Malaysia offers the same features as Allianz above. Correct me if I'm wrong.

Edit: My bad, I forgot AIA Life Signature Beyond does offer overseas medical treatment (50% of coverage amount or up to RM1 million)..

https://www.aia.com.my/content/dam/my/en/do...brochure-fa.pdf

This post has been edited by -kytz-: May 5 2019, 05:31 PM

Non-Drug Costs of CAR-T Cell Therapy

Non-drug expenses may be particularly burdensome to patients receiving chimeric antigen receptor (CAR)-T cell immunotherapy for cancer, according to a research letter published in JAMA Oncology.
While tisagenlecleucel and axicabtagene ciloleucel, 2 CAR-T immunotherapies that received US Food and Drug Administration (FDA) approval last year, are priced at $475,000 and $373,000, respectively, these costs do not include non-drug costs due to adverse events, leukapheresis, and lymphodepletion therapy. More than 40% of patients who receive CAR-T therapy may, for example, require intensive care for cytokine release syndrome (CRS).

https://www.cancertherapyadvisor.com/home/c...y-exceed-50000/

RM 1 million "IF" they cover it and "if" they provides "Guaranteed letter"....where got enough.

put premium aside first, look at what you need.

1) need medical insurance to back up medical expenses?
2) want insurance to provide you your living expenses say if you lose the ability to work?
3) what about if diagnosed with one of the critical illnesses, whats the back up plan?

since you are not paying for any insurance now, might also wanna see whether how you wanna plan for personal tax relief?

if that is a very new treatment which is not available in Malaysia, highly likely it wont be covered. that's just my guess though knowing that medical plan doesnt cover those new tech treatment. for AIA Life Signature Beyond, it is not a medical plan but yea it does have the extra benefit that reimburse overseas treatment for CI. I saw the fine print stated "only first CI claimed is covered". not sure what it really means though. the details really need to read through the policy contract. brochures are just too brief.

even with GL, also need to have enough cash to back up. go SG for treatment, it is more to a affordable choice, really cannot rely 100% on insurance if really seek for alternative treatment in overseas. with insurance or not, always plan to have ready cash for emergency purpose like this (even though treatment in overseas is a lot, but better plan than never).

Hi all!

Is there a general rule of thumb on how much I should be paying monthly/ annually for insurance?

I'm worried I might be over paying/ over insuring myself.

5 to 10% of your monthly salary

You can try to reapply on another company but most likely they will exclude you the same thing because the period of recovery is less than 5 years.

Is that the monthly premium of the insurance?
E.g.
Monthly Salary : RM10k
Monthly Insurance Premium : RM700

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

That will be just a rough guideline.

However different people would have different need in their financial planning such as
1. Dependents that they need to cover
2. Their marital status
3. Retirement planning for each person is different
4. Expenses / Earning that they would like to secure

Which is why insurance plan for each person is tailored differently but some agents do sell them like a "standard" package to sell it easier.

Heard that Bank Negara have announced about the new Minimum Allocation Rate (MAR) will be implemented on ILP and starting from July 2019 onwards. Im wondering how the MAR will affect the premium? Whether the premium will hike after July 2019?

No one will know unless you work in the insurance company. Wait till July to find out

I approve this message.
And I endorse it.

Sometimes agent can be quite long winded, macam very 8 wanna know this and that.
But actually we want to do right by you guys, to be accurate.

If cheap is king... then we both lose cuz one day in the future you will surely come to our office and belanja nasi kari.
Confirm wan cuz I kena twice liao, referred cases cuz the first one the agent passed away from old age; the second one the agent kena stroke during an angioplasty procedure. The customer only got this face to see, they sound me up la... still wait what?
But of course after they vent and rant, I got remind them "when this policy was incepted, I was in kindergarten."

If it is too expensive, can tell us "eh why not i bend over and offer you my butt? knncb u think i print money ah?"
If it is not what you want, can tell us "I talk that time you got listen or not? Understand mandarin/english/bm/tamil/tagalog/indon/thai or not?"
If you feel you want to support your friend, but you are uncertain if your friend is pro enough yet, can tell him/her "eh can bring your agency manager along ah? I might have other questions"

Lidat mah...
The training nowadays is all about fact-finding, how to analyze, what to consider, keep an eye on sustainability, etc.

But if we, as the consumers, buy insurance (or any financial product for the matter) with the attitude like
"what is this guy gna hardsell me this time"
"what else can you offer, what else? What else?"
"See what is he/she gna present first, defo not gna buy anything from him/her"
"My friend pay very little only woh, how come yours so expensive?"

My friends, let's give our friends who join the insurance industry a chance to be "professional" and go through the fact-finding, financial health check, basically their level best at what they are trained to do. Otherwise everywhere you go you end up with "porfessional" agents hehe haha with you, tell a bunch of lies like "wah you look like you slimmer leh, change hair style leh, look better leh".... very song meh? Of course there's time to play and mingle, but there's also time to be serious lah.
When your agent is serious, maybe you want to listen to what he/she has to discuss with you. And participate in the discussion, go back and forth, share your goals and objectives, share your concerns. That's what we call a discussion mah. Otherwise you think agent come and meet with you for target practice meh

Hi, guys...may I know if people normally take different insurance for life and medical card coverage separately? I'm delinquent and the only insurance I have is the old one from more than 10 years ago, so I don't think I have a good coverage in terms of life insurance.

Recently came across AIA Life and TPD (has additional AIA Vitality plan attached to it with rewards, but this is not the point), seems decent since you can take back the amount at the end of it, so macam savings too with interest given. Any opinions on AIA is much appreciated.