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 Insurance Talk V5!, Anything and everything about Insurance

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Cyclopes
post Dec 12 2019, 04:21 PM

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QUOTE(kimi0148 @ Dec 10 2019, 10:41 AM)
Hi guys, my dad have a PA plan which has hospitalization income, my question is if he is admitted for surgery not related to accident, can he claim the income from the PA policy? seems obvious, but asking for clarity
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Cyclopes
post Dec 29 2019, 06:01 PM

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Buying a new policy would subject you to new underwriting, and may result in medical loading if you have suffered any illness or claims previously. It may be prudent to continue your current policy while getting a new policy until a period of time, i.e. 12 months to lapse before terminating the current policy. But it's never good advice to surrender a policy for another unless you have good reasons.
Cyclopes
post Dec 29 2019, 06:20 PM

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QUOTE(Zyi @ Dec 26 2019, 07:27 PM)
Hey guys, does outpatient ultrasound scan - covered in AIA MedPlus package?
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Medical plans are for in-patient treatment. However you may claim any out-patient expense incurred if you are admitted for the same illness within 60 days. Check with the insurer or your Life Planner for more details.
Cyclopes
post Jan 17 2020, 05:29 PM

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QUOTE(SwarmTroll @ Jan 17 2020, 11:38 AM)
How much would a monthly premium of RM150 get me if I went for traditional insurance?

Age: 23
Smoking: Non Smoker
Occupation: Consultant
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Without any riders attached, approximately RM180,000 for RM150 monthly.
Cyclopes
post Jan 23 2020, 11:41 PM

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QUOTE(vash @ Jan 23 2020, 06:11 PM)
best life insurance for family pls
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Ultimately it boils down to your budget/ affordability taking into consideration your commitment and what your needs are.
Cyclopes
post Jan 27 2020, 07:28 PM

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QUOTE(Zyi @ Jan 25 2020, 07:10 PM)
Is there anyway to claim diagnostic scans (CT, x-ray) we did for investigatory purposes?

Could we get reference letter from clinic doctor to do so?

I am using AIA A-Plus Med.
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The key word is "medically necessary", as the medical plan is to cover if you suffer illness or accident. But you may claim if you are subsequently hospitalised and certified to suffer from same illness. Call the Customer service for more info if you don't have a servicing Life Planner.
Cyclopes
post Feb 6 2020, 12:21 AM

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QUOTE(1tanmee @ Feb 4 2020, 10:07 AM)
anyone here thinks that purchasing life insurance for aging parents as unethical? thought of getting it, but scared parents think i am counting on them to die soon pula
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To answer your question, I don't think it's unethical to obtain life insurance for your aging parents. What probably you could do is try reframing their mind-set on the purpose of you wanting to insure them at this age, this may help alivate concerns that they may have.
Cyclopes
post Feb 15 2020, 11:04 PM

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QUOTE(propertymart @ Feb 14 2020, 11:36 PM)
Hi all insurance gurus, any advices?

my dad had brought a AIA insurance around 10-20 years ago (as what i remember we got pay punctually for around 7 years like that)
but due some financial issue we had stop paying it 7 years ago,
can my dad still walk in AIA and check any cash from policy can be witdraw for his retirement use?

but i saw the article below on their website....means all burnt?? i was student before and unaware this clause , if not i will ask my dad witdraw all cash value out...

b)      If your policy has enough cash value, an Automatic Premium Loan (APL) will be triggered if premiums are not paid after the 31-day grace period.

This means the APL will be used to cover your unpaid premiums. Once your policy’s cash value is used up and the outstanding premiums are not paid, the policy will no longer be active. Please note that interest is charged on the APL at the current rate, which is subject to change.
https://www.aia.com.my/en/help-support/faq.html

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If he had not received any annual statements from AIA last few years, very likely the policy was terminated. But no harm checking with the branch office on the status.
Cyclopes
post Feb 17 2020, 01:29 AM

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QUOTE(YSLAM85 @ Feb 16 2020, 05:18 PM)
Yes, all have RM500k with waiver of premium.
Normally what shall we look at when making comparison of insurance as this will be a commitment for me for very long term so want to ensure I pick the right fund
Thanks for replying ya smile.gif
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Each product comes with different benefits that may not be available in other products. Some of these benefits are already built-into the basic insurance cost, whereas some can be attached as a rider. You may want to consider those benefits too in addition to the basic cost of insurance. As you will be committed for long duration, consider what other life style or life changing events or risks that you may want to manage or protect.

QUOTE(kimi0148 @ Feb 16 2020, 04:54 PM)
Hello peps,

If i were to buy GE ILP insurance, which fund do to choose?
I am 24 years old, office worker. Proposal only has immediate 5 years performance, although past performance is no indicator of future performance but i still can't see what is the best option?

100% balanced? or
50% balanced and 50% fixed?
40% fixed, other equities fund all 10%?
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Have you done a risk profile? That would give some indication what your risk tolerance will be and guidance what asset allocation ( equity/bond/balanced fund) would be suitable for you. You can vary the allocation for a higher or lower risk. But given your young age and likely that you will be making monthly premium payment for a long term, you may want to consider a higher risk funds. But do keep an eye on the performance of the market your funds are invested.

QUOTE(MohdPuskas @ Feb 16 2020, 08:13 PM)
Can insurance company close shop? (small one)

What will happen if you have life insurance policy with them?
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Insurance is a regulated industry. Insurance companies ( big or small) can't lock their doors and just walk away. Thus far in Malaysia, insurance companies taken over by others have continued to service the older policies. I have not yet read an instance where customers have lost out by insurer/s discontinuing business here. Other senior forumers may have some additional info to share.
Cyclopes
post Feb 17 2020, 06:05 PM

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QUOTE(lifebalance @ Feb 17 2020, 05:02 PM)
happened to AIA as well. Talking from my observation for the past 5 years
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AIA do periodically offer upgrades to its existing policy holders to ensure that the those holding older medical plans are brought in line with the increase in medical/health care. The most recent is stand-alone medical card holders (A-Life Med Regular) were offered the latest product A-Plus Health Booster. Certain conditions may apply.
Cyclopes
post Feb 17 2020, 11:17 PM

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QUOTE(lifebalance @ Feb 17 2020, 07:48 PM)
Lets talk about ExcelCare.
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ExcelCare has been in the market many years ago. Not sure if in the initial periods when it was replaced by Med Regular, a similar upgrade was offered then. But very likely, I am just guessing, the modus operandi of the company would have being the same then as now. End.
Cyclopes
post Feb 21 2020, 05:33 PM

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QUOTE(mastedo @ Feb 21 2020, 11:52 AM)
Maybe just for wife survive for 1-2 years if anything happend to me.
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What are the other commitments that you personally have that can also be covered by insurance, other than living expenses that you may want to provide for your wife? As each type of insurance product provides coverage for different needs, knowing what are the risk that you would want covered will help in designing the right product/policy.

QUOTE(echoesian @ Feb 20 2020, 11:55 PM)
Which is the best medical plan for children nowadays?
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You may want to look up on the following health plans from AIA:
1. A standalone medical plan A-Life Med Regular,
2. Investment linked medical plan A-Plus Health,
3. An optional add-on rider A-Plus BabyCare
4. An optional add-on rider with critical illness A-Plus Junior CriticalCare
Cyclopes
post Feb 26 2020, 01:15 AM

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QUOTE(echoesian @ Feb 25 2020, 11:34 PM)
Among these plans, which one has critical illness protection for junior?
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You may want to Google this:
4. An optional add-on rider with critical illness A-Plus Junior CriticalCare
Cyclopes
post Feb 28 2020, 08:56 AM

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QUOTE(teridoz23 @ Feb 28 2020, 12:37 AM)
hi all sifu,

just want to check is it ok with such package? am i paying more or less for such coverage? anything can be improved or just good enough?

Up to 70yo
Life:150k
CI:250k
PA:120k
Minor Injuries:2000 per accident
Payor:36 illness or TPM beared by insurance company
Hospitalization income:100/day
Medical Card Coverage:1mil , if exceed covered 80%
Cancer/Kidney=1.5mil lifetime
R&B:300
Co-insurance:rm300/disability (no deductible)

rm478/month

34/non smoker
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You may want to relook on your life coverage, given you are at the most productive years of your working life; more so if you are married with kids.
Cyclopes
post Mar 1 2020, 07:34 AM

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QUOTE(Secret Hunter @ Feb 29 2020, 03:48 AM)
im planning to get insurance just for medical card purposes
what i have in mind is GE vs AIA
GE 1 month rm300 till 90 yo
where as AIA rm 250 till 80 yo
the perks looks almost the same
any recommendation from others?
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If you are looking purely for medical card, for a start you can also consider a standalone medical card with lower monthly premium with Room & Board @RM250 and annual limit of RM1,650,000
Cyclopes
post Mar 4 2020, 03:32 PM

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QUOTE(Ching Aik @ Mar 3 2020, 04:12 PM)
Hi Sifu,

I'm 32yo / non-smoker, applied prudential since 2010 without knowing what I bought.
It was PRUlink Assirance Plan 240/month, then 2 years ago agent says mandatory splitted to below:

PRUlink Assurance Plan 100 / month
PRUlink Assurance Plan = 80k
Accident Medical Reimbursement = 2k
Accidental Death & Disablement = 80k
Crisis Shield Benefit = 80k
Enhanced PRUpayor Basic = yes
Hospital Benefit = 200 / day
PRUdisability provider = 8k / annum

PRUWith You 140 / month
PRUWith You = 10k
Payor Basic = 1.68k
PRUMillion Med = 250
PRUWith You (TPD) = 10k

I've housing loan, and planning marry soon.
May I know if this plan is good worth, or improvement need? Thank you.

Also is it possible to change agent?
Because former agent retired, another agent takeover but not very responsive..
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Unless you have MRTA or similar products to cover your outstanding loan, you may want to consider increasing your sum assured to at least cover the loan. As you might be embarking on a new chapter in your life you may also want to reassess your commitments and coverage of your new risk.
Cyclopes
post Mar 5 2020, 03:48 PM

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QUOTE(GeraGeraPo @ Mar 4 2020, 09:22 PM)
Hello, can agents recommend me medical card plan?

Female, 28, Married with one child (my dependent)
Retail sales assistant (no travelling)
Non smoker
No know health issue
Budget RM200/month

Interested with Allianz, AIA, GE

With my budget, should I get 1) standalone medical card or 2) investment linked plan where life+medical+ci lumps into one?
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A investment link including a waiver would be more cost effective and prudent too given you have a young dependent.
Cyclopes
post Mar 5 2020, 09:12 PM

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QUOTE(Piza.always @ Mar 5 2020, 06:33 PM)
I need to know what's the best insurance all the time? Im planning to get ones.

Before i got great Eastern 2 years but the agent went nowhere. I asked the hq, they said even i pick any agent, my missing agent can still get the commission. I asked to decline my account, and refund but the money they said already paid my penalty for missed pay for a week even tho i paid it double so i dont miss pay.
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Browse financial websites such as the following for information. It also depends on your needs and how the Life Planner designs an appropriate coverage.

https://www.imoney.my
https://ringgitplus.com
Cyclopes
post Mar 7 2020, 10:14 AM

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QUOTE(Ching Aik @ Mar 6 2020, 04:49 PM)
Further to previous message, is there better protection out there provide by other plan or insurance company if I replace current policy with same Rm240/month?
Thank you.
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RM240 today may not buy you the same coverage as in 2010 as cost of insurance has increased and will change based on your age. You may want to relook/increase your coverage with additional premium if you keep your current policy.
Alternatively, you may want to explore other insurers which may still provide adequate coverage but not necessarily with all your current riders attached.
Cyclopes
post Mar 8 2020, 09:01 PM

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QUOTE(anwa @ Mar 8 2020, 06:51 PM)
Hi, hope can get some advice. I'm 45. Already have a investment linked medical card (manulife) AL 320k, no lifetime limit till 100yo. Paying $410/mth. Would like to get medical insurance for wife (37yo) and daughter (2.5yo).
1. Should I get a family plan (ie on top of my current plan)? Or individual insurance for wife & daughter? Or one of those mother+child policy?
2. If I get a family plan, should I cancel my current one?
3. Is it better to get from same company, or different company? (Been hearing AIA, prudential and allianz better?)
4. Getting irritated every 6 months or so I get a letter from manulife asking to top up quite significant sum saying my investment plan may not cover future premium. Shouldn't it be investment market goes up and down, and the amount in investment would have been calculated to be enough when I bought, which is only 4 years ago?

Thanks in advance for any info, advice and insights.
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1.2.3. Work within your budget. Compare the cost of obtaining the medical card individually for your wife and child against a family plan. Technically benefits should be the same except for annual limit/lifetime limit.  Would you want to have life/c.i. insurance for your wife and can be packaged with medical card or just standalone medical card.

4. The request for top up of your premium would be related to recent BNM ruling on sustainability till end of term of your policy. If you opt not to increase the suggested premium, top up when you have extra cash.

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