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 Insurance Talk V5!, Anything and everything about Insurance

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Colaboy
post Jan 3 2020, 04:15 PM

On my way
****
Senior Member
670 posts

Joined: Aug 2005


QUOTE(puputeh24 @ Jan 3 2020, 03:56 PM)
She feels like it's too long paying the premium till 80yo

And the CI is kinda low
"Any further financial background about herself ?" Such as?
*
for her age & working as executive . . . CI needs to be min 100K

"She feels like it's too long paying the premium till 80yo"

The plan with RM200/m able to sustain up to age 80 does not mean she needs to pay up to 80
usually inv-link plan will have certain cash value after number of years
i believe when retirement age aprox 25 years later, the plan should have enough cash value to sustain
another 10-20 years. Of course a lot of other factors need to be consider as well such as fund performance,
market condition, medical inflation & etc etc
Colaboy
post Jan 3 2020, 05:58 PM

On my way
****
Senior Member
670 posts

Joined: Aug 2005


QUOTE(lifebalance @ Jan 3 2020, 04:38 PM)
The projected sustainability is provided you continuously to contribute 200 monthly until 80 years old otherwise it may not sustain till then. Unless you're willing to pay 2x - 3x more premium now in order not to require to pay after X amount of years and it will self sustain thereafter, not accounting if the fund performance is bad / increase in medical inflation cost / etc factors.

As for CI, depending on her annual income, it will be best to have atleast 3x - 5x of your annual income minimum.

Which is why more info about herself such as her current income, phase of life, dependents, current investments, cash on hand. assets, liabilities will tell me more about herself.
hmm.gif bro, I think the highlighted statement mentioned is incorrect especially the current regulation requires all insurance companies to show how long a policy is sustainable in the annual statement every year.

By telling the client to not continue making the regular monthly premium payment after [25 years later] will be detrimental to the insurance policy especially medical policies would constantly be reviewed for increase in cost of insurance, what in this 25 years time or 50 years later, this person will certainly be required to do a top up from time to time if that happens, what more to suggest that they could stop making payment after 25 years later.
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bro, I think the highlighted statement mentioned is incorrect especially the current regulation requires all insurance companies to show how long a policy is sustainable in the annual statement every year.

its only illustration amount . . . as i mention there is a lot other factors need to consider in as well
logicaly nobody wanna continue to pay their insurance up to age 80 or beyond. But from what i see
across the ins industry, medical cost have been incresing every year. . . i doubt it will be sustainable

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