Unlike ILP, the COI in the stand-alone medical plan is not separately categorised, thus comparison may not be simple. But your assumptions may be valid.

Premium will increase approximately RM3,000 every 5 years. Coverage is up to age 100 as long as you are continuing paying the premium.

It is irresponsible to post any figure, as insurance company never promise any figure to start with.

Any increment in premium (standalone) or cost of insurance (for ILP) is depended on insurance pooling situation.
High percentage of claims, inflation in medical cost are factors that determine the incremental.

There is always something cheaper, always someone willing to bend lower.

Worth it or not, only you can be the judge for it.

Betul.

hi spiderwick, for standalone medical card premium based on age, you can refer to company product brochures for details.
AIA A Life Med Regular brochure
Great Eastern Great Medic Xtra + Great Extender
Manulife ManuHealth Elite

*Not specifically recommending you any products but for your reference on the standalone medical card premium rates based on ages. Check towards the end of the brochures for premium rate table ya.

For ge great medic, is it guaranteed renewal until 70nyrs old?

Hi all

Looking for advise for my wife life + TDP + illness insurance upgrade
Currently, she cover with
- 1.32m medical / annual / unlimited lifetime
- 300k life/TDP/illness

Last month, just diagnose with SLE but condition is very mild which only need take medicine to maintain the situation

Now we looking to increase the 500k life/TDP/illiness coverage
(looking for good insurance charge and at least cover till 75/99 YO)

Need some opinion of what kind of plan we can consider?

I'm sorry to say that SLE is one of the Critical Illness, even at Mild Stage, chances of upgrade / purchasing a new policy will be difficult.

Other alternatives are Cancer only / Accident only coverage.

However you may try to apply and see what's the reply of the underwriter

This post has been edited by lifebalance: Jul 19 2020, 06:17 PM

Halo friend,

So sorry to tell SLE under GE 45 CI.

I believe your wilfe plan is GE medical. The plan design can choose CI sum assured share with LIFE.
Got SEPCC rider? Smart Early Payout CriticalCare. You can contact your agent to learn the claim info.

If the plan design is 300K life/TPD + 300K CI share. You can ask for this "Buy Back Option" benefits if you got SEPCC rider.
Maximum sum assured base on the SEPCC amount.

If it's recently diagnosed, insurers will be looking into how well it is managed/contained before offering any health plan.

yes guaranteed renewal until 99.

Great. Can Consider for my wife n kid . Premium based on the brouchure seems acceptable

Most of the life companies today offers guaranteed renewal, it was uplifted 2 years ago in a circular, namely AIA, GE.

Thanks ckdenion, will have a look on it.

Many people are buying way too much insurance
.....20 Jul 2020

“Many do not understand the plans they buy into, and many buy the wrong type of insurance such as investment-linked ones, ” Robert Foo, CEO of MyFP Services Sdn Bhd told StarBiz.

https://www.thestar.com.my/business/busines...-much-insurance

matter of perspective or ????

Hi Guys, need your advice if i'm overpaying for my insurance premium. I got AIA insurance 6 months ago from a fairly young agent. I was told to get ILP to keep yearly premium low. Im 28 this year.

Yearly premium : RM 3072
Coverage Amount: RM50k
Annual limit: RM1.5 mil

A-lifelink 2 with A-PLUS DISABILITYCARE, ACL1 A-PLUS CRITICALCARE, ATA1 A-PLUS TOTAL ACCDSHIELD, ACS1 A-PLUS ACCIDENTSHIELD, A-PLUS HEALTH, ECI1 A-PLUS EARLY CRITICALCARE, MCC1 A-PLUS MULTI CRITICALCARE, AHE1 A-PLUS HOSPINCOMEEXTRA.

a lot of ppl buying the wrong insurance should be the perspective. Especially from incompetent agents who are just selling their products like a salesman in guise of being a "financial advisor" instead of listening to their customers. Some are not competent to explain even the products they are selling from their company.

Some agents can't even explain the fundamental of Insurance, investment link and term insurance even they claim to be 5 years into the industry.

Moreover, not all insurance companies provide solutions to certain market segments i.e some do not cover pregnancy plans / elderly plans / cancer only plans / multi critical illnesses and etc. Hence agents representing from a single insurance company will not be able to provide all solutions to their clients.

Some agents also sells Non-Takaful plan to Muslims who explains that it works the same as a Takaful policy without revealing the impact to the Muslim client.

The marketability of insurance in Malaysia still heavily relies on "Who you know" to sell insurance but unfortunately that's where the phrase "Hey support me la, I'm your best friend/colleague/gf/bf/uncle/auntie" is used most common. But policies they've bought may not meet their need because most of the time, no proper developing of plan is done and just because in the name of "Trust"; I've got stories of some auntie who bought insurance from her relative and disappear with her money that she paid the agent relative that was supposed to help her pay for the insurance premium; as result, her policy was lapsed and was unable to renew it anymore and so happen she needed to make a claim and it was invalid. To-date she never talk to that relative and plans to lodge a police report.

As the article wrote, Insurance is for the purpose for protection / risk management but I've seen agents emphasizing a lot into Future Cash Value return without explaining the mechanism of investment linked product to the client.

Hence sometimes I frown at some prospects who think their agents are telling them the honest truth when I revealed it otherwise.

*Edit*
Another add-on are insurance company running "promotions" from time to time on some product that is called "Exclusive" for a short period of time and get their agents to push that product and clients without realizing that they've bought / overbought insurance that are not necessary.

Sometimes there are also banks who call you up to offer insurance but may not fit your insurance need.

This post has been edited by lifebalance: Jul 20 2020, 01:08 PM

mind telling more about this?
Coverage Amount: RM50k

RM50 000?

That would be a wrong explanation given by your agent.


As for whether it's overpaying or not depends on what was the initial thought that made you purchase into the policy. What are you looking to cover for yourself ?
1. Are there any dependent that relies on you?
2. Debts to cover
3. Living expenses


Personally I don't know you so I can't tell much.

But your plan seems to be more skewed towards the Hospital & Surgical Benefit.

It's just written as coverage amount for A-LifeLink 2 as RM50,000