Before you buy, they happily give you.

Many years after you bought and ask for another copy, they seems reluctant to do so.

Actually the critical illness definition in Malaysia is streamlined across all life insurance companies.

Based on this individual story, I would think that the claim made under Prudential is medical claim while the claim made under Great Eastern is the Critical Illness claim.

While medical claim will cover the surgery cost, critical illness policies stated explicitly that keyhole surgeries is excluded for coronary artery by-pass surgery. This would be the same even for any other life insurance companies in Malaysia, including Prudential.

I would say that the agent does not understand the policy well and did not provide the appropriate advice. Getting the right agent is very important.

Actually the critical illness definition in Malaysia is streamlined across all life insurance companies.

Based on this individual story, I would think that the claim made under Prudential is medical claim while the claim made under Great Eastern is the Critical Illness claim.

While medical claim will cover the surgery cost, critical illness policies stated explicitly that keyhole surgeries is excluded for coronary artery by-pass surgery. This would be the same even for any other life insurance companies in Malaysia, including Prudential.

I would say that the agent does not understand the policy well and did not provide the appropriate advice. Getting the right agent is very important.

Actually the critical illness definition in Malaysia is streamlined across all life insurance companies.

Based on this individual story, I would think that the claim made under Prudential is medical claim while the claim made under Great Eastern is the Critical Illness claim.

While medical claim will cover the surgery cost, critical illness policies stated explicitly that keyhole surgeries is excluded for coronary artery by-pass surgery. This would be the same even for any other life insurance companies in Malaysia, including Prudential.

I would say that the agent does not understand the policy well and did not provide the appropriate advice. Getting the right agent is very important.

Perhaps you should read the thread in its entirety before commenting. I claimed for both medical and critical illness under Prudential.

It is easier for us to talk about individual incidents and illness in hindsight. However in the process of choosing insurance, each product has its own pros and cons and it is very difficult to predict what illness we may face other than based on family history.  So for me the main takeaway fron this is how the case was handled by the company.

Actually the critical illness definition in Malaysia is streamlined across all life insurance companies.

Based on this individual story, I would think that the claim made under Prudential is medical claim while the claim made under Great Eastern is the Critical Illness claim.

While medical claim will cover the surgery cost, critical illness policies stated explicitly that keyhole surgeries is excluded for coronary artery by-pass surgery. This would be the same even for any other life insurance companies in Malaysia, including Prudential.

I would say that the agent does not understand the policy well and did not provide the appropriate advice. Getting the right agent is very important.

If you look at my medical insurance from a "financial" perspective (approx. values):

Total premium paid = MYR 90,420

What I got/will get in return:
1. Medical claims = MYR 65,000
2. Critical illness = MYR 295,000
3. Cash Value = MYR 53,000
4. Waiver on my policy (up to 100 yrs old) = MYR 409,000*
5. Waiver on my son's policy = MYR 12,000

Total returns = MYR 834,000
ROI = 9.2x

*excluding investment returns.

I hope this thread will help Malaysians make a more informed decision on your insurance needs. Do not believe everything you're sold and do not buy more than you should.

P/S: PM me if you want the contact for my Prudential agent. He's a young, honest and hardworking boy whom I can trust and recommend. He takes care of both my personal and my company's group insurance.

Background:
I was a non-believer in insurance, mostly due to the aggressive way it's sold, up until I was 30 years old. Then a friend became a Prudential agent and I bought a medical card to support him, which also included life and critical illness protection, and very minimal investment.

Then I started freelancing and also bought a house and a car, so I thought of increasing my insurance - in case something happened to me, the insurance would pay off the loans. Still having doubts about the ethics of insurance companies, I decided to buy extra life and critical illness protection from Great Eastern this time to "diversify the risk".

Over the years, I increased my insurance protection and also bought insurance, including a 15-year education savings which I regret, for my 2 sons. I also started a company that grew to almost 100 people and have been buying company group insurance from Great Eastern - paying a premium of about MYR 70,000 a year.
Critical Illness:
Last year, I was diagnosed with a heart condition that was covered under the critical illness insurance. Due to my fitness level, I was able to undergo non-invasive keyhole surgery (more advanced, less painful, recover faster, smaller scar) to repair my heart, instead of the conventional open-heart surgery where they saw your chest bone and open up your chest.
Claims:
Upon discharge, I submitted all the neccessary reports and documents to both agents and on the SAME DAY. This was what happened:

Prudential
- the agent told me Prudential will respond within 14 working days.
- within that period, Prudential sent me an SMS saying the claim was successful.
- the money was paid into my bank account 2 days later.

Great Eastern
- the agent said don't know how long the process will take.
- a week later GE asked for "certified" docs, which were copied and submitted by their own agent.
- a week later, I was asked to complete a questionnnaire, including which other insurance company I bought from.
- then my claim got rejected.
- GE says based on the policy, I MUST undergo an open-chest surgery to qualify.

My agent was stunned and my cardiologist literally said "what the fuck?". My agent appealed and got rejected - twice. Finally, I wrote a long email to express my disappointment and detailed my entire journey with GE, comparing it with Prudential. My email was escalated two levels up ...and then NO REPLY for a whole month.

Then my surgeon wrote another report and appealed to them. Finally, my claim was approved but GE proudly emphasized that they were ONLY doing it out of goodwill.

I promptly terminated and switched my company group insurance to Prudential. I also did the same with my son's insurance.
Buyer Beware:
It's companies like GE the reason why I never trusted insurance companies. Even my insurance agent who had been selling GE for 13 years was unaware of such a clause, hidden in the fine print.

The insurance policies are supposed to cover us until 100 years old. So between now and then, if there's a new and more advanced medical treatment, we still can't use it because it's not covered under GE's archaic policy?

Over the 13 years, my insurance agent has sold over 500 policies. But including mine, he has only made 3 CLAIMS for critical illness/life to date!

Other issues that I had with GE, was with their online access which didn't work and customer support which takes a minimum of 3 business days to respond, e.g. "we will transfer your request to the relevant department". Seriously? In this day and age of Internet speed? In my last interaction with them, they took 1.5 MONTHS to reply "due to sudden surge of volumes of email" (I wonder why), by which time I'd totally given up.
Conclusion:
Be careful when buying insurance - it's easy to buy but difficult to claim. Based on my personal experience, I would highly recommend Prudential instead (for now). The PruWaiver that I bought meant my son's premium will now be borne by Prudential. My premium will also be borne by them and paid towards my cash value until my policy expires at 100 years old.

Background:
I was a non-believer in insurance, mostly due to the aggressive way it's sold, up until I was 30 years old. Then a friend became a Prudential agent and I bought a medical card to support him, which also included life and critical illness protection, and very minimal investment.

Then I started freelancing and also bought a house and a car, so I thought of increasing my insurance - in case something happened to me, the insurance would pay off the loans. Still having doubts about the ethics of insurance companies, I decided to buy extra life and critical illness protection from Great Eastern this time to "diversify the risk".

Over the years, I increased my insurance protection and also bought insurance, including a 15-year education savings which I regret, for my 2 sons. I also started a company that grew to almost 100 people and have been buying company group insurance from Great Eastern - paying a premium of about MYR 70,000 a year.
Critical Illness:
Last year, I was diagnosed with a heart condition that was covered under the critical illness insurance. Due to my fitness level, I was able to undergo non-invasive keyhole surgery (more advanced, less painful, recover faster, smaller scar) to repair my heart, instead of the conventional open-heart surgery where they saw your chest bone and open up your chest.
Claims:
Upon discharge, I submitted all the neccessary reports and documents to both agents and on the SAME DAY. This was what happened:

Prudential
- the agent told me Prudential will respond within 14 working days.
- within that period, Prudential sent me an SMS saying the claim was successful.
- the money was paid into my bank account 2 days later.

Great Eastern
- the agent said don't know how long the process will take.
- a week later GE asked for "certified" docs, which were copied and submitted by their own agent.
- a week later, I was asked to complete a questionnnaire, including which other insurance company I bought from.
- then my claim got rejected.
- GE says based on the policy, I MUST undergo an open-chest surgery to qualify.

My agent was stunned and my cardiologist literally said "what the fuck?". My agent appealed and got rejected - twice. Finally, I wrote a long email to express my disappointment and detailed my entire journey with GE, comparing it with Prudential. My email was escalated two levels up ...and then NO REPLY for a whole month.

Then my surgeon wrote another report and appealed to them. Finally, my claim was approved but GE proudly emphasized that they were ONLY doing it out of goodwill.

I promptly terminated and switched my company group insurance to Prudential. I also did the same with my son's insurance.
Buyer Beware:
It's companies like GE the reason why I never trusted insurance companies. Even my insurance agent who had been selling GE for 13 years was unaware of such a clause, hidden in the fine print.

The insurance policies are supposed to cover us until 100 years old. So between now and then, if there's a new and more advanced medical treatment, we still can't use it because it's not covered under GE's archaic policy?

Over the 13 years, my insurance agent has sold over 500 policies. But including mine, he has only made 3 CLAIMS for critical illness/life to date!

Other issues that I had with GE, was with their online access which didn't work and customer support which takes a minimum of 3 business days to respond, e.g. "we will transfer your request to the relevant department". Seriously? In this day and age of Internet speed? In my last interaction with them, they took 1.5 MONTHS to reply "due to sudden surge of volumes of email" (I wonder why), by which time I'd totally given up.
Conclusion:
Be careful when buying insurance - it's easy to buy but difficult to claim. Based on my personal experience, I would highly recommend Prudential instead (for now). The PruWaiver that I bought meant my son's premium will now be borne by Prudential. My premium will also be borne by them and paid towards my cash value until my policy expires at 100 years old.

need to check
i got few policies with GE

i checked the surrender value is 18k... then there is also a bonus brought forward of rm 10k...

meaning if i cancel this policy, i will get 15k+10k??

You're referring to a saving's plan?

life insurance

bcse when check statement, there is a cash surrender value.  but there is also an accumulated bonus.

Yes, it'll be paid together upon surrender.