how to upgrade GE policy with higher coverage?

have an old policy from 2005.

Great Protectlink Insurance with IL Health Protection

Annual Coverage is only 50K
Lifetime 200K.. mana cukup

Paying rm375 x4 per year
Investment value got rm12k now

Shall i just cancel this policy and buy a new one with unnlimited Lifetime?  Or possible buy another policy as a second policy?

thanks. like this it would be better to get a standalone plan right instead of the ilp i currently have for better coverage? Already over 40 but no history of health problems so far.
i have another 2 other policies under ge ,

Life 87 (sum assured rm75k - paying rm513x4 /year)  and

Supreme livingcare series 2 (sum assured rm52k - paying rm386x4/year) ...

all started in 2002. Shall i just leave those policies alone and keep paying..?
my concern now is on medical card ...

what's the average yearly premium someone will pay now? RM2k? RM3k? Heard people advising 5%-10% as a rule of thumb for the premium, will someone with 10k salary really allocate that much for insurance?

i have an investment-linked medical card. But been having second thoughts lately.

Just want to ask whether are there any companies still offering term insurance? (anything that is not investment-linked).

Reason being I trust myself doing the investment more than paying a fee for insurance company to do it.

May i ask for both standalone medical and ilp medical rider, are they all subject to premium loading i.e. if one has made a substantial claim previously then insurance company will renew your policy at a much higher premium in the future due to the higher risk involved?

For those guaranteed renewal policy, does this mean insurance company is obliged to renew your policy however it may be subject to additional premium loading?

any agent has quotation for senior citizen
i check online and found that most company last entry age is 59 ..
my mum is 61 now , any company still can accept ?

good health, non smoker, plan to cover till 70, annual limit probably 120-150k, lifetime 500-700k is alright. do let me know, plan with deductible option also can be considered.
her current medical premium increase by 90% starting next payment !!!! 
does bnm and piam really review the increment and approve this kind crazy number ??!

or specifically AIA agent, what is the lowest premium for ilp with A_plus health rider,  lowest life + P150 for my mum case?

Looking to upgrade my old insurance package due to low annual and life limit or purchase new IL packages.
37 yo
Non smoker
Boy
Being in hospital once due to abnormal heartbeat but nothing found afterwards at GH. Is it this will effect the premium?

Thanks everyone who replied or pm me.
I called my agent and she told me it was due to age group change and also premium revise thus the price increase so much , and add in the med booster ,that's y see a 90% change

Take out med booster it will be ~ 1200 per quarter , 100k yearly/  lifetime lifetime. I Google and found  GE standalone great medic extra , it is cheaper at 3.6k, but it have not yet go thru repricing as I aware of. Their GE medical ilp coi jus had a 40% incresed. Any GE agent here know when the great medic extra last price revision ? I afraid if I switch I might be slap with higher premium than AIA based on 40% projected increment

Hi Sifu

Just got a quote from Allianz for policy below:

CI        300K
Life      100K (recommend to also increase to 300k since it pays out for TPD as well)
PA        100K
R & B    200
Medical   1.5m(Annual limit) Lifetime limit unlimited.
waiver of premium

Age 26, M, non-smoker, Class 1.

Premium is RM350 /month, coverage period 31 years.

1. Should i increase my premium to extend the coverage period?
more advisable to since this plan includes medical card. if can try to cover till at least 70 years old. best till 80 years old

2. Any area i can improve?
listed above

3. For Rm350/month can i get much better coverage from other insurance company?
likely not because the plan you show above is covering for 31 years old. so it is consider as pressing down the premium to the minimum and minimizing the coverage term.

Background: single, no debt, annual income around 70k-90k.

RHB Insurance MediSure Supreme

any RHB medical insurance agent here that able to offer reasonable and responsive service for outstation client that sign up under their hand ?

or is this a agent-free product ?? 

AIA (A) : lifetime/annual limit 50k
Excess : 0

RHB ® : annual limit 100k, lifetime unlimited
Excess : 5000

Scenario : hospital bill 70k

How is "excess" works?
1. Full claim on under A ->policy terminated. Balance 20K claim under R. I will need to pay 5k.
2. Full claim under R and pay 5k. Can I claim this 5k under AIA? --> most ideal as policy A won be terminated due to limit hit

so i was loitering around my Great Eastern E-Connect and stumbled upon this "Investment Value" from one of my Investment-Linked Policies.

so theoretically la, if I were to surrender my insurance today, I will get this amount (RM5,818.91) refunded to me isit?

because I saw my one other policy that uses the title, "Surrender Value" instead which was very clear. This "Investment Value", I not too sure what it means.

Hi all sifu
My mum bought Great Eastern Takaful Supreme I last year with RM50,000 yearly contribution, and today suddenly her bank account auto debit another RM50k and she was shocked. My mum having misunderstanding with the agent who sold her last year.
My mum was 62 years old last year, premium due date tomorrow, auto debit RM50k today. Then i just knew this matter and look into the insurance policy.
I found that it's something like 1st year RM50,000, death benefit RM43,000
Surrender value is only RM22,000++, it's really ridiculous.
Anyway, i wish to settle on this matter, due my mum thought only one time investment of RM50,000 and get 15% cash payout guarantee.
What solution i have currently, reduce the yearly contribution to lowest amount (RM6k / year) and surrender it after few years? or any other option
Sorry i'm having basic knowledge about insurance only, not really know deep about it, seeking for sifus advice

Edit add on: My mum opened ocbc 360 account i trying to get some interest from her liquid fund, and i think the bank officer aim my mum and talking sweet things to my mum that my mum definitely no idea she is buying a "insurance". The serving agent consider to scam and trap my mum for purchasing RM50k yearly contribution policy, to cover RM43k death benefit? I'm really sick about it, all the monies are my mum retirement fund. Hope i get some solution or what is the best way to do to save the monies. Appreciate

Hi both sifu, appreciate your time with my matters. I'd attached the policy for your better understanding.
However, just now i went to the OCBC branch and quarrel about the dispute.
The advisor should not recommend such kind of "retirement" product for "retired" women. What use for my mum to invest her retirement fund and get it at 75 years old as another retirement fund?
That is not professional at all.

After my dispute with the branch manager and the service advisor, we came into the outcome:-
First year 50k distribution had been made, can't do anything, they also strongly recommend not to surrender
Yesterday another RM50k of auto direct debit had been happened. Talked to branch manager that we are not intend for investment another RM50k for 2nd year.
They mentioned that this product , the contribution can be decrease to lowest amount that is RM6k per year (for year 2 to year 5)
We both agree with this outcome, but they need a week to work on my withdraw of the RM50k paid on the 2nd year, and continue with RM6k yearly contribution for 2nd year to 5th year, and they need to deal with Headquaters about re calculate the guarantee payout and other tables etc
If the branch manager can come out with this results, i think probably i will just left the monies RM74k in total there, and untouchable for 13 years until 75years old.
Just the matters of, the guarantee payout and total gain after maturity date. (awaiting them for calculation and outcome)

If it doesn't go into this way (RM50k for 2nd years cannot be reverse or etc), probably i will work on another direction, BNM telelink or ombudsman, but i think it's long and hassle way to go.
Appreciate sifu will give me advise after spending your free time on my attached policy table.
[attachmentid=10545719]

Add On: The branch manager and the advisor mentioned that it is possible to decrease the contribution as low as minimum RM6k per year. Now the main dispute is only for the RM50k had been auto debit yesterday, but the Due date is today, and they have to inform us before they done the transaction due to big amount that not everyone can afford

Thanks for your kind reply. I'd much understanding now.
I'd referred to my mum, and she is agree that if total contribution is 74k (50k at the first year, then 6k for subsequent 4 years), she still can accept under the condition of the payout during maturity is still guarantee not less then the amount she paid.

So currently i could only able to wait for the bank branch manager to work on it and hope it'll be going this way.
If things happened and couldn't smooth going to this way of solution, guess i will take action about refunding all the policy monies, due to the agent advisor is pretend not professional and misrepresentation to my mum, and didn't did his job like query my mum about it'll be total 250k of investment or other reminder, again it's not small value.

I'd dispute with the bank with another point, they didn't basic check and query on my mum financial situation and simply make these things happened. So yesterday RM50k had been debit from my mum saving account. And now my mum don't had additional money to pay next year of RM50k contribution. So we have to loan from bank to pay contribution? The agent never mentioned these things and did about survey to my mum financial situation. I'll bite on this point and make this matters bigger if things doesn't go to total contribution of RM74k.
It's ridiculous plan especially such a huge contribution yearly and didn't confirm if their customer had the ability to pay.

If any other have better solution how to settle this things, kindly let me know. (currently waiting the branch manager outcome for withdraw the 2nd year contribution refund RM50k, then revise the proposal and plan to RM6k yearly from year 2 to year 5, and this solution is both party agree)
Just incase things doesn't go on this way, what can i do anymore?

Yes, i understand these basic of things.
My mum still kept the draft used waste paper, hand wrote by the service advisor. I can prove that it can be lead to my mum about the misunderstanding.
I'd notice to the branch manager about, i'll lodge a police report and do whatever i can do, just the matters of how far i can go.
I believe they're considering about their branch reputation and etc and trying to solve and minimize it.
So, probably i would just wait and see after a week.

It wrote something like 6000 x 15% = 900 interest 1st year
6000 x 15% = 900 interest 2nd year
3rd, 4th, 5th
Total interest you earn for first 5 years is 75%
Than my mum wow, such a good deal, where find
At the beginning, my mum wish to intend a total RM50k (she assume RM10k first year, 10k 2nd year, 3rd - 5th), and proceed it with one goal RM50k, yeepy, just left it there 5 years, wait 5 years maturity then she will get RM50k plus yearly 15% (1.5k interest), 50k for 5 years for another type of "FD" (my mum thought it's new style of FD), it will become 50k plus 37,500 interest (total 87500), great deal right?

At the end it become RM50k yearly contribution. And the most terrible part is, my mum hate 'insurance'. She always murmur beside me yearly regarding that she bought a yearly 6k annual premium medical+ life + lil bit of saving, and thinking to surrender every year to save back the 6k 'spending'
Imagine, sounds ridiculous but it does happen

During my dispute with the advisor, i keep focus on this point, did you really expect my mum understand, especially they use those wording that uneducated senior that won't understand, ex. like circumstances, but not mentioning situation.

The draft paper wrote by the agent, i left it in my office together with the policy.
Probably i try to post it here on Monday due tomorrow's holiday and im not working during weekend.

maybe should correct the wording

AIA (A) : lifetime/annual limit 50k
Deductible : 0

RHB ® : annual limit 100k, lifetime unlimited
Deductible : 5000

Scenario : hospital bill 70k

How is "Deductible" works?
1. Full claim on under A ->policy terminated. Balance 20K claim under R. I will need to pay 5k, OR
2. Full claim under R and pay 5k. Can I claim this 5k under AIA? --> most ideal as policy A won be terminated due to limit hit

Hi, would like to ask sifus here about recommendations for investment link policy for life/total permanent disability/ci

Age 32 non smoker

1.waiver in case of having CI/TPD
2.annual limit may be 1m++
3.lifetime unlimited
4. Cover till min 80
5. Life/ci/tpd payout 300k
6. Single room 300

Better to take deductible 1k for reduce monthly? And roughly how much premium will increase over time?

Budget around annual premium of 3k

Thank you.

Hi everyone,

Happy Monday!

Would need advise on the insurance plan quoted by an agent last week to me.



First concern: Was wondering if the monthly premium if too high for this ILP (anyone has similar package?) I know that standalone medical card and critical illness policies are definitely cheaper but I have done so much reading/checking and most independent websites recommend that Allianz Medisafe Infinite+ as one of the best choices for medical card but it's a rider type.

My focus right now is only to have better coverage for medical card and critical illness. I already have a few insurance that have higher payout for Life/TPD.
in this case, then its better to also see what you currently have. then only see what is really needed. if there is shortfall, you can supplement it using new plan.

Another insurance agent from GE (a friend) mentioned that nowadays most insurance will always focus on selling ILP to customers for all-in-one package (since it's the trend) and of course, at the end of the day, it's the most commissions agents can get when selling ILP.  He did quote me a similar package for GE to match the coverage by Allianz but the monthly premium is higher at RM575 and I need to top up / pay extra since I wanted early payout for critical care, whereas Allianz already have payout at all stages.

Second concern: Allianz definitely have the holistic package but unsure how fast they process guarantee letters and claims.
dont worry about guarantee letters and claims from Allianz. so far i didnt face any issue on claims with Allianz.

Thank you!

Currently already having 700K life + Illness

Looking to increase another 500k life & TPD with illness waiver rider, so far HLA provide best premium but cover only for 30year...(bday Jul 84)

Anything to take note before pursue further?

I posted here a few months ago, was looking for a standalone medical card, and also term life insurance. but after doing some reading, i think now i prefer an ilp. Is it true that for ilp,the payment will not increase that much over the years because the savings would cover the increase in premium? is this true for all ilp from different companies? I don't care how much money i will get from the investment part at the end of the day, i just don't want to pay so much when i get older.

I also mentioned that i prefer AIA, but their life insurance is quite expensive. When i checked, for a coverage of !mil, my premium is about 1300 a month or 16k a year. It's the legasi policy. That's over budget for me. Been looking for a medical card + life + CI/TPD.

Another question i would like to ask is, how much is enough for a life/tpd/ci insurance? Some people say it's at least 3 times your annual salary,some say 10 times your annual salary. But if i get that much coverage it would be super expensive. Some people also say that you don't need so much as you can also include your epf. Any opinion on this? Can i factor in epf, and also loan insurance for my car which is like mrta?

btw i am 32yo, male, pilot, smoker, not married yet.