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 Insurance Talk V5!, Anything and everything about Insurance

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roarus
post Apr 10 2019, 10:02 PM

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Just trying my luck - Any Allianz agent willing to adopt me as policy holder?

I posted here few months back - basically my agent wasn't honest. Have filed issue with Allianz and will request for agent change. Was told if there's no one I'd like to nominate then Allianz will try to match me with one.

My profile:
Male, non smoker, desk job, next bday age 36, single, works out for general purpose fitness these days (used to do long distance cycling and running).

Current coverage (over 3 policies that could've been 1)
Life/TPD: 400k
Accident: 500k
Early crisis: 200k (Prime Care)
Medical card: Medisafe Infinite 300

Thanks for your time

This post has been edited by roarus: Apr 10 2019, 10:03 PM
roarus
post Apr 10 2019, 10:16 PM

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QUOTE(Holocene @ Apr 10 2019, 10:04 PM)
Sure, come under my wing.
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Have sent you PM. Thanks notworthy.gif
roarus
post Apr 20 2019, 12:43 AM

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QUOTE(tadashi987 @ Apr 20 2019, 12:36 AM)
Hi guys, i saw from Ringgitplus there are two types of premium types, i tried to search around but to no avail cant figure what is it in details.
Any one can clarify?

[attachmentid=10229894]
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Flat means you pay the same amount until maturity (provided premium and value is enough to sustain cost of insurance)
Progressive means you pay higher as you age, can either be yearly increase or by age bracket e.g. 30-34 premium rate A, 35-40 premium rate B

This post has been edited by roarus: Apr 20 2019, 12:43 AM
roarus
post Apr 20 2019, 12:55 AM

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QUOTE(tadashi987 @ Apr 20 2019, 12:46 AM)
Any pros and cons for both?
As in the case of this, I would assume for sure Flat type is better than Progressive, as I saw a lot person is not aware of this and suddenly they got increase in premium price to pay.  hmm.gif hmm.gif
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I'd say no harm getting multiple quotes from different companies and comparing how much you'd be paying for lifetime of the policy. I got a no commitment free quote from fundsupermart for a progressive rate policy and decided to keep my current flat rate policy.
roarus
post Apr 20 2019, 01:40 AM

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QUOTE(tadashi987 @ Apr 20 2019, 01:09 AM)
The reason is because i am comparing Prudential PRUwithyou with GE Smart Legacy in the moment, I am 26yo this year
Prudential PRUwithyo
GE Smart Legacy

thou from the surface, it seems that I would go for GE because GE has
1) RM500k Minimum Sum Assured (PRUwithyou is RM100k)
2) Loyalty Bonus: Up to 1% increase of the Basic Sum Assured every year up to a maximum of 30%
3) Flat rate. Stays the same throughout coverage term. (which I assume Flat > Progressive, as I wouldn't want to increase my commitment as I aging?)

which GE looks more appealing
thou GE Smart Legacy doesn't show including critical illness, but I researched and see critical illness should be included in their Smart Legacy MAX premium
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1) Do you have dependents (e.g. spouse, children, parents without pension) to justify the need for 500k sum assured at your age?
2) Comes to total RM650k after 30 years. Again, do you need that much?
3) Flat is not a guarantee - sudden spike in cost of insurance and funds underperforming projection can easily screw anyone over.

Another thing to look at is if anywhere in the policy says renewal is guaranteed as long as policy is premiums are serviced on time
roarus
post Apr 23 2019, 03:39 PM

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QUOTE(soules83 @ Apr 23 2019, 11:05 AM)
how we can know the COI is enough to cover future insurance cost for how long? Lets said I stop paying the insurance at age of 65 (retired).
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2 suggestions:
i. Check the ILP projection table in your policy against actual cash value every year. Your birthday is a good and easy date to set as reminder - you may top up lump sum every 3-5 years if the actual vs projection cash value runs too far (cons: lump sum investment front loading charge)
ii. As you age, slowly move Equity->Bond allocation by 5% every 5 years to ensure less volatility in cash value (cons: lower rate of return as you progress)
roarus
post Jun 28 2019, 02:24 PM

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QUOTE(techm @ Jun 28 2019, 01:31 PM)
Hi.

Thinking of getting medical for my 16 month old kid.
Was thinking of only medical, but the agent (aia) is asking me to take investment linked life as well.

Does that make sense?

Also for medical coverage, which is generally better...prudential or aia?

Thanks!
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Just get medical, sock the remaining investment/savings portion in Amanah Saham fixed price funds (definitely ASB1 if you're bumi). If you're not diligent enough to get the units, put into a bond unit trust with good track record like Libra Asnita or FDs at promo rate.

Do get multiple quotes - Prudential, AIA, GE, Allianz don't be shy. There are some in the industry lurking in this thread that can give you a quote as well.
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