Wow.... That's the worse way to buy insurance without knowing whether it serves the purpose.

It will be better for you to talk to a financial advisor to find out how to get proper financial planning done

The annual statement will auto summarise for you how much went for medical and life separately for the year. Then key in that amount entitled under your exemption.

I do hope you would explain to the forummers more in detail that the guaranteed cash payment is based on your sum assured and no based on the overall account value as normal consumer do not understand this terminology used by the insurance company. They would assume 2.5% - 4.5% compounded based on the money that they have in the policy.





https://www.aia.com.my/content/dam/my/en/do...20-brochure.pdf

*Correction on the wrong brochure reference earlier*

This post has been edited by lifebalance: Jun 8 2020, 09:51 PM

2.5% based on RM23,000 = RM575

It's a guaranteed payout to you.

You have an option to choose to deposit with the insurance company or to payout to you every year.

Nowadays payment will be transferred to your bank account that you've indicated to AIA to bank into

The medical card will act as a subsidy to your existing savings for medical emergencies.

Worse case scenario still got government hospital if budget constraints

Hmm I don’t get you, you mean you are earning 4K and wish to cover how many years of your income ?

Probably you can tell me as below
Age
Occupation
Gender
Smoker or non smoker
What’s the amount you’re looking to cover ?

Topping up on policy will need to check with your existing agent as they will check with the existing policy cash value plus new premium required.

It will be suggestive to cover at least
10x annual income for death or disability
5x annual income for critical illness as income replacement.

It will be cheaper to buy a separate life policy than topping up though as life policy only offers bigger discounts per thousand sum assured.

Fortunately I’m able to provide premium to premium comparison for different company but will need to finalize an elaborate financial plan for your family.

You can diversify to different companies if you want just the absolute best coverage for the same or lower premium.

Here is some better plans.

Age 50 - 59 RM1329 yearly
Annual Limit 1 Mil

Annual Limit 1 mil
R&B 200
60 - 64 - 2204
65 - 69 - 3169

Told you so earlier ago. How is Melaka btw ?

This post has been edited by lifebalance: Jun 10 2020, 10:12 AM

It will be advisable to get an overall policy hence an investment link policy. A decent start can be around 200 monthly for you.

Within 3 days if it's verified

What you're referring to are traditional policies. Most of them you find nowadays are tied to savings plan or just Life / Critical Illness, you won't be able to add on medical card coverage.

You will find that traditional policies offers limited coverage with a higher premium since there is an element of guaranteed return.

Depending on your thinking thoughts.

I would rather keep insurance as a coverage rather than a guaranteed surrender value which will only payout 100% back to you at age 80 or 100. If you surrender earlier, the value is definitely lesser than 100%.

If you're a 20 year old today, assuming sum assured 100k is guaranteed back to you at age 100, your money is only worth RM708.32 of today's value. Whereas you could have paid over 50k to 100k premium over the 80 years. (some policies nowadays do offer shorter payment term I.e 3 years, 5 years, 10 years, 20 years)

The importance of insurance is on payout in the present day and not when you are at the age of 100. If you need the insurance money today, how are you going to transport yourself to your future age 100 to take your money to use?

Whereas if you've opted for an investment link policy, easily you can get 3 - 10x of the coverage compared to a traditional policy for a similar premium depending on your age and the product that you have bought.

But if you've made up your mind on only traditional policies, I won't mind selling it to you after you know what is the pros and cons I've mentioned on the above so that you won't have any regrets/complaints in the future.

And did your agent do anything for you to find out?

Another suggestion is to walk in branch to find out what's causing the delay

No idea what was discussed for them to come up that plan for you.

Based on the available info, sustainability will be the main impact as a higher budget wil likely result to that. Cost of insurance as well as certain company will charge higher than others.

Replies that you will get here will be basic info. End of the day, you decide who you want to engage their expertise and live with their advise.

No, it means that estimated years the policy may last provided no increase in price. If there is a revision, then the premium payable will need to be increased as well. Meaning your 300 monthly may not stay as 300 over 10 years if there is an increase then maybe you need to top up to 350 for example

Provided she is health, no limitation will be imposed.

Assuming Age 65
Coverage RM1,000,000
Premium 2,204 Yearly

This post has been edited by lifebalance: Jun 15 2020, 11:11 AM

would suggest that you write a complaint on the delay and see what they say.

Yeah you can do so, it's called a single premium top-up.

No right and wrong whether to do it as a regular or single top-up. As long as you know that doing such top up is to lengthen your policy sustainability.

There is a complaint email address that insurance company would have. Another add-on is to CC Bank Negara Malaysia (BNM) for this matter. They will start to do their things very fast

No one can guarantee their prices. Just like your Fish Seller at Market can't guarantee the fish price stays the same next 20 years.

Just get the necessary insurance coverage you need. Let the investment worry itself. The insurance company has shown their worse and best scenario and it's usually 2 - 3 years difference. 2% return by the insurance company is very achievable.

Cheers.

nope, most of the time it will be auto assigned back to the manager who recruited her once she resigns.