Yay, welcome all to ask questions

about 100/mth each

you will need to submit a form to inform AIA that you would like to correct the answer that you gave wrongly and get agent to submit in the form


Thanks

That depends on your priority in coverage and your availability of your budget.

I would maximize more on life since you're a breadwinner


What product are you looking into?

she'll need to go through some medical examination by the panel insurance clinic or a specialist report is required to ascertain what she is suffering from otherwise it will be hard for the insurance company to grant any sort of insurance to her.

You will first need to fill up the application form and wait for the insurance company to call for an examination, if you have a recent report from the specialist, that would help as well.

You can ask Allianz agent to share in here but I doubt they will do so

I would say get an all rounder policy for a starter depending on your budget

You may get an investment link policy with the attachment of
Death and disability coverage
Medical card
Waiver of premium

And if you got some extras, can put in some critical illness otherwise get more for death and disability first

300 monthly is enough to get very decent coverage for your age. Around 250 is the median average

Every 2 - 3 years, the most you can drag is probably 5 years before a new plan comes out into the market.

Depends on your preference on the insurance company that you want to take up with.

No specific pros and cons, the products are more or less the same with a little tweak here and there

1. This is an investment link policy thus there must be some life insurance attachment to it, if you’re solely looking into medical coverage alone then get a standalone medical card which is cheaper.

2. Yes you’re right, pay less now and top up later or pay more now and chances to require top up in the future is lesser.

3. You may need to check with LHDN on this matter.

You can, just charge to the son's card

not sure about other company practices

No I would not suggest you to terminate your previous insurance policy first before securing the new policy. Should there be any claims in between, you're not covered for any claims if the policy is cancelled before the new one is inforced.

Pure life insurance as in term insurance without investment?

when it comes to investment link, it means your policy will lapse at the age of 64 - 68 once there is no more money in your account value, which means ur policy will cease if you don't do top up premium payment on top of what you're paying at that moment,

yes, most of the insurance provider do provide claim for outpatient

for long term less hassle, the investment link policy will be better otherwise you need to manually manage your term insurance

the extra cost upon reviewing your old policy depends on the upgrade that you would like to include into the existing policy.

if you're good with your investment, by all means, invest with your investment, however, most insurance policies comes as an investment link so it's hard for you to not invest at all with the insurance company.

Just treat the insurance money as your insurance cost, it's difficult for you to count the pennies that you're paying to insurance.

Look at the bigger picture

sustainability?
- how long can a policy last before it lapses (projection - non guaranteed)

COI?
- Cost of insurance - every insurance benefit has a cost price, the more you add, the more expensive it gets.

Cash value?
- the account value of your investment link which is your money in your insurance policy. Once it hits 0, it means there is no more money left in your account, if it shows RM90,000 then there is RM90,000 in the insurance policy which you can choose to take out or keep it in there.

Basic of financial planning 101.

I'm quite astounded when you tried to lure forummer to read about "compounding interest" to say the they're not counting pennies when they have to constantly spend their time to monitor how much they need to pay incremental per year to their life insurance policies.

Yes you're right to say that the small pennies will accumulate overtime, provided they are a savvy investor themselves to be able to do that. With the luxury of the time to manage it, time is a precious commodity, you don't see a rich person manage all their businesses and investment to the pennies, they hire and pay people to do that and utilize their human resources.

Yes, my example is equating on if you're a rich man and have a deal earning you RM100,000s, would you even bother with the RM10s ? Would they even bother spending the same time of an hour to get RM100k instead of the RM10 ?

That's the reason why services like unit trust, stock brokers, insurance company are out there to earn some money and get some automation, yes the return may not be a lot depending on the goal of the investment, but if that automation helps to reduce my time to manage something trivial, I don't see why I shouldn't spend my time for something else better that is my specialty.

Your logical answer may not be suitable for genuine investors who have huge portfolios or for the common folks who don't do much into investment.

Here's my thought for you.

It seems to me that the insurance company would like to investigate into the claim before they issue any payout for the claims, perhaps you can submit your appeal with the relevant receipts to the insurance company that is required and let them sort it out in their investigation.

As far as I know if you're hospitalized for that matter and never had any exclusion within your policy before, the claim should be honored by the insurance company.

My goodness, what a reply;

Don't try to act holy, calling me joke heaven in your replies first and now trying to act like a saint in here trying to talk sensible to the audience as if I am at fault when I didn't even put you down at all, giving you my thought since you asked for food for thoughts and that's when you tried to pick a fight, more over reporting my post because you got butthurt for calling you out, guess I pressed your buttons real bad when I caught you with your illogical advise in here.

I hope you don't twist and turn words in front of your customers to get policies.