Welcome Guest ( Log In | Register )

Bump Topic Topic Closed RSS Feed

Outline · [ Standard ] · Linear+

 Insurance Talk V5!, Anything and everything about Insurance

views
     
basSist
post Feb 17 2019, 06:02 PM

Don't look at my stars
*******
Senior Member
3,567 posts

Joined: Jan 2003
From: Paradise
QUOTE(alexkos @ Feb 17 2019, 03:24 PM)
can confirm?

btw, i heard agent say even RM200k annual limit is too little....must have RM1m annual limit... is it true?
*
i thought 3m baru sufficient? biggrin.gif
basSist
post Feb 18 2019, 06:48 AM

Don't look at my stars
*******
Senior Member
3,567 posts

Joined: Jan 2003
From: Paradise
QUOTE(Xithyl @ Feb 18 2019, 12:41 AM)
Thatis what i wan to clarify. Agent told me pay one year only. After taking the 18k, then can terminate the plan already.
*
Better direct call in AIA CS to clarify. Can't 100% believe in what agent said without black and white.
basSist
post Feb 19 2019, 09:42 PM

Don't look at my stars
*******
Senior Member
3,567 posts

Joined: Jan 2003
From: Paradise
Bear in mind, the higher amount you pay for ILP the bigger the administration fee (the commission) you have to give.
basSist
post Feb 20 2019, 11:16 AM

Don't look at my stars
*******
Senior Member
3,567 posts

Joined: Jan 2003
From: Paradise
QUOTE(lifebalance @ Feb 20 2019, 11:14 AM)
Medical Plan, if you ask me, is a must, I've seen my friend personally spending a bomb on his medical against Cancer, which easily cost RM20k for a 21 days medication that is just to slow down the spread of the cancer.

Unless you're well funded yourself to pay for your own medical bill i.e 5 - 10 mil ringgit in ur bank account. I'd suggest you get a medical insurance urself.
*
I believe 10mil also insufficient. A 50mil should be well prepared.
basSist
post Feb 21 2019, 09:03 AM

Don't look at my stars
*******
Senior Member
3,567 posts

Joined: Jan 2003
From: Paradise
QUOTE(MGM @ Feb 21 2019, 04:47 AM)
What 10mil insufficient, how do u know? Like that might as well wait to die without treatment cos how many can afford that. What type of insurance can cover 50 million?
*
Bro, relax. laugh.gif

I was playing on a person's natural fear of mortality, serious illness. The higher the better for me to close ma.

#sarcarstic

This post has been edited by basSist: Feb 21 2019, 09:05 AM
basSist
post Feb 25 2019, 10:20 AM

Don't look at my stars
*******
Senior Member
3,567 posts

Joined: Jan 2003
From: Paradise
QUOTE(wizardofoz @ Feb 22 2019, 12:18 PM)
Hi all,

I am looking for deductible medical insurance with conversion option to 0 deductible upon retirement. Which insurance companies are offering this option?
*
Try Google

AXA Smartcare Optimum offered by AXA General. A standalone medical policy.
basSist
post Feb 25 2019, 03:12 PM

Don't look at my stars
*******
Senior Member
3,567 posts

Joined: Jan 2003
From: Paradise
QUOTE(wizardofoz @ Feb 25 2019, 02:34 PM)
Thank you. I saw that too, looking for AXA agents.
*
Welcome. If you walk in branch yourself. Get extra 15% discount (no agent). Strongly recommended if you know how to deal with insurance stuffs. Else just let our insurance expert agent to deal with.
basSist
post Feb 28 2019, 09:01 AM

Don't look at my stars
*******
Senior Member
3,567 posts

Joined: Jan 2003
From: Paradise
QUOTE(xHj09 @ Feb 28 2019, 02:33 AM)
Hi all, I am 27 this year. Currently have one medical my dad bought in 1999. 70k x 3.

Thinking to purchase new, please advise below premium is good to go?

Premium RM260/month for below

Life: 100k
PA: 100k
Critical illness: 100k
Medical is Allianz. A/L 1.1m, L/L no limit. R&B250
*
You can get much higher cost coverage with this much of premium.

My real life example:

Life: 200k
TPD: 200k
CI: 200k
PA: 400k
Medical: 200k AL deductible options

Average RM150/m, RM1800+ per annum.

Some may argue the medical is too low. Ok let add up to double up to 400k AL that would be maybe around RM2k+ per annum with double life/tpd/ci and quadruple of PA but lesser medical (do we really need 1m AL? I don't know)

Too many ppl paid too muh premium for unnecessary low savings rate. Unless you are the who don't know discipline yourself for investment. Get a ILP then.

#buyterminvesttherest
#dierich<60
#cashrich>60

This post has been edited by basSist: Feb 28 2019, 09:05 AM
basSist
post Feb 28 2019, 03:24 PM

Don't look at my stars
*******
Senior Member
3,567 posts

Joined: Jan 2003
From: Paradise
QUOTE(Ancient-XinG- @ Feb 28 2019, 02:29 PM)
got another plan is yearly premium 3k can covered 500k and 300k CI. its an ILP.

But yea, like you said, term is better choice. Now agent keep pushing for ILP and term less people talk about it.

Term Life Premium will be lower than ILP I suppose?

But does it have account value, at least we get back what we paid at the end of sustainability year?

And I am rather surprising that most, not all insurance are end at 100 y.o. (this is never a good idea)
*
What's the objective of buying an insurance?

Why you need to insured until 100yo?

Why did you buy motor insurance over and over again every year but no cash value?

Many ppl underinsured because they can't afford the premium of the plan. Many ppl overinsured because they forgot the objective of the product.

Let's study how's insurance company profits. They earn more from saving/investment (admin charges) than from medical part, assume it is an ILP medical card. And the hottest insurance product, children education plan? Savings plan? Why?

And I would prefer to have 1mil cash/investment on hand rather than 1mil covered but without cash. Why? Opportunity.

Google Arthur L. Williams Jr. to know more about BTID.

I'm not here to offend anyone or insurance. insurance is a must in a person's financial planning. But you gotta know what you need and buy.
basSist
post Feb 28 2019, 05:24 PM

Don't look at my stars
*******
Senior Member
3,567 posts

Joined: Jan 2003
From: Paradise
QUOTE(Ancient-XinG- @ Feb 28 2019, 03:45 PM)
Good point. But I disagree on the opportunity part.
I not really understand what's the opportunity here.
I think it's sound bad if you get money only sometHing bad happen. Should we rephrase it with protection or prevention?

One should know what they buy. This is the most important. Many people tend to rely on agent but agent betrayed them. Agent only tell what the best for them, not client. Well some agent is good but majority are part timer. Not permanent life planner. I think insurance agencies should ban part timer. They know nuts. Ask them question also say this is best for you.
Go fly kite.

And how one is over insured? Is it >10% of the yearly income?
*
Oh forgot to mention that 1mil cash part is for after 60.

Overinsured and underinsured is not fully based on income... It has to do with the survivors... The one that depends the main pillar income earner in a family. So both person can earn same, but their dependent might be different. One can be underinsured, one can be over insured.

This post has been edited by basSist: Feb 28 2019, 05:24 PM
« Next Oldest · Finance, Business and Investment House · Next Newest »
 

Topic ClosedOptions
 

Change to:
| Lo-Fi Version
 0.1470sec    0.66    7 queries    GZIP Disabled
Time is now: 7th December 2025 - 08:57 AM
All Rights Reserved © 2002- 2025 Vijandren Ramadass (~unite against racism~)
Removal Request
Powered by Invision Power Board © 2025  IPS, Inc.