When it's written as such, it means the Death/Disability Sum Assured is RM50,000, you will need to look at the policy detail to find out what are the coverage for the other riders that you've mentioned.

anyone know got any plan for old people (parent),
insurance / medical card,
maybank only personal accident,
wish to signup online, dont want go branch,
and hope not too expensive....
as backup plan for my mother ...

Yes there is, will need to know how old are your parents who you want to cover.

Please be careful when buying into online insurance and ensure it's a medical plan and not a personal accident plan.

It's not the same type of insurance.

buy for mother, 70 yo,
saw maybank got, but when read detail, all is PA...

So based on the screenshot i've taken from my AIA profile shows coverage as RM50,000

Initially, i wanted just health insurance but the agent kept persuading me to get more and more. So i gave in.
For a single 28 year old who doesn't drink or smoke, I feel kinda cheated now seeing my other friends paying less than RM2k yearly premium.

However, I'm thinking of cancelling my plan when it expires and look for a cheaper plan

Not many insurance can accept her age now as she's 70, moreover she may be subjected to a medical check up due to her age, premium around her age starts from 6k - 9k annually.

Looks like an all-rounder plan, if you don't need those extra bells and whistle and a simple medical plan, can just remove the additional riders.

Again, your friends and your own risk management may differ, don't just follow "because my friend is paying lower so I must follow them". Instead, get a plan that is tailored to you.

This post has been edited by lifebalance: Jul 20 2020, 01:32 PM

Appreciate your inpu I'll probably sit with my agent and discuss on removing some of these riders for now. Maybe add on back once im older.

if you need to do that,
may i suggest you "forget" about this agent,...for by the look of it, does he/she really studied and evaluated your needs before suggesting a plan with that cost?
or does he/she emphasized on the cost first (his need of cost target over your needs) before suggesting a plan to you?

Initially the agent came up with a plan that cost RM7k yearly. I almost fainted cause all i asked for was basic plan with medical coverage. After explaining further on my needs he came back with the current plan im on. I still find this expensive, will have a discussion with him on removing some of the riders. Not sure if the age of the agent played a part since he is quite new to the industry and probably money driven

read post 1018,...
for some inputs...

If your primary purpose is for medical card, you can seek to replace for a standalone medical card. But by health insurance you are also referring to Critical Illness, than you may work with your Life Planner what you don't need.

You should pay for what you need and take account of your cash position too and not feel burdened.

insurance agent must hit RM15k target per year or else he will be terminated.
may i know this requirement create by who? bank negara or insurance company?
why such shady requirement?
why can't someone just handle his/her family member insurance instead of keep pushing them to find new client?

Because BNM wants to increase the standard of the insurance industry, instead of people who just park their license without practicing it. They will have minimal target to achieve to maintain their license.

Hitting minimal RM18,000 yearly target is a poverty line for an insurance agent career. That’s equivalent of earning only RM3,600 yearly.

Insurance company would not want to want to keep inactive agents as well since they don’t generate the company profit. Insurance companies are here to make profit and certainly not a non-profit charitable organization.

is this RM18 000 yearly target set by BNM?
does it RM18 000 applied the same across the board? (means all insurance companies will have the same standard or it can varies higher?

It’s across the board, however insurance company can impose their internal guideline on termination clause on their agents which may have a higher standard than the ones set by BNM including meeting minimal New policies sold in a year.

if it is same across the board, then can it be higher than the BNM guidelines of min RM 18000 sales pa?

What?


It's the agent lovely family members. Of course he/she will always make sure they got the best coverage within their budget. What park license without practicing? What?


RM3600 yearly so? He/She got other main job lah.


You talk like the agent's family get free insurance from insurance company is it? They also pay the premium like others on time. How come no profit for the insurance company? What?

I supposed so, yet to hear any company going above 18k for now. But for amount of cases, yes.

This is the industry practice, same goes for any other sales industry I.e if you’re a panel conveyancing lawyer for a bank, if you don’t meet the minimal volume, you’ll be removed from their panel; similarly, if you’re a property agent and want to apply as REN, you need to meet certain sales to maintain or you’ll be removed for someone else to take over as there is limited REN available.

If you don’t like how it’s being practiced, either go with the flow or go look somewhere else. Probably I can suggest you to write a long love letter to BNM to voice out.

thanks for the input...
that means they maintained the same as BNM guidelines on min sum...

jfyi....
found this 9 yrs old post....
Unit trust company "did" set it sales target 3x higher than FIMM guidelines

read BACKWard the communication between WMK & felix
from post 35
How to be a unit trust agent?, example, public mutual
https://forum.lowyat.net/topic/475101/all