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Insurance Talk V5!, Anything and everything about Insurance
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neverfap
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 Apr 10 2019, 07:57 PM
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Hi!  Currently I have 2 plans, SMART LEGACY and SMARTPROTECT ESSENTIAL INSURANCE 2 from Great Eastern. May I know if this is a bit redundant? and if it is, where and how should I change the plan? Here's my brief intro, 25 y.o. male, single. Parents is in their 50s. Mom still working (gov servant) and dad retired and 1 sis (studying). The monthly premium is between 10 to 15% of my monthly salary. I tried to consult with my agent/planner, but he keep on pushing new plan to me saying i need more protection @@ Hopefully the sifus here can help! Thanks |
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neverfap
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May 21 2019, 11:15 PM
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25 y.o.
No Dependent
Looking for Insurance Plan with:
36 CI ~ RM200k (Normally come with life with the same sum assured right?)
TPD ~ RM50k/year till age 70 (Is there a plan that provide the following coverage?)
Partial PD/PA ~ 500k
Medical Card/H&S
To replace my current insurance plan (investment linked) with a premium of 3.6k/year that covers:
100k Death
100k CI
100k Early CI
200 Medical (1.2M Annual limit)
200 R&B (1.2M Annual Limit)
Premium Fee Waiver
Thanks!
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neverfap
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May 21 2019, 11:30 PM
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QUOTE(lifebalance @ May 21 2019, 11:23 PM) You sure know a lot about insurance =) comparing plan ? My current plan got too many riders. Asked my agent to quote a plan with lower premium...then no response from him  This post has been edited by neverfap: May 21 2019, 11:31 PM |
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neverfap
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Sep 21 2019, 05:56 PM
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QUOTE(Mr Awesome @ Sep 21 2019, 05:17 PM) Questions: 1. The guy actually quoted another plan which was standalone medical for my mum, and the premium is 50% less than the one with ILF. He kept saying medical card will get more and more expensive in the future, which is true, but isn't it the same if i pay more later or pay more now? The extra fund i pay into it is just so that i can cover my high medical card price in the future only. Furthermore it will also be used to maintain the fund etc, so after deducting all the administrative costs i'm practically left with little to nothing. 2. If we only opt for the medical card (term insurance?), is it that critical illness, personal accident and all those are not included? Because i don't see them included in the proposal i received. 3. Do you think the premium for number 2. will be cheaper if i buy them separately (but from the same insurance company) but EXCLUDING the ILF. Thanks. 1. Yes, you are right. If you have a better investment vehicle (even promo fd) then u can opt for standalone though you need to have discipline to save and invest your money. 2. Those are the riders that come with the ilp/ilf with extra charges that may reduce the insured term of ur insurance/increase the premium in the future. Normally standalone doesn't have riders. I'm not too sure about this but pretty sure there's many agents here that are willing to help u with it. 3. Need the agent from the company to provide answer for this. Keen to know too. |
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