hi afif! yea remember you posting about seeking for standalone and term plan. 1300/month for what benefit exactly? perhaps you can share more in details? also ILP premium is not guaranteed to be the same throughout the whole term, reason being is the cost of insurance benefits (mostly CI and medical) are not guaranteed and subject to be changed (increase) after a period of time.

there is no standard life insurance/ci insurance amount. it all depends on your current commitment and status. perhaps you may wanna go through a simple financial planning then only you know how much actually you wanna be covered for. yes you can also factored in epf or whatever assets you have now, only thing is will that affect other financial goals in life say retirement planning.

This post has been edited by ckdenion: Aug 22 2020, 11:00 PM

How much is enough? 3 years or 10 years is all subjective and boils down to what you want covered and how much. Depending on your objective, than you can consider what are the things to take into consideration, should EPF be part of the equation or not, similar with other obligations. Premiums will vary based on your need.

Hi.
I have got questions.
My company offer unlimited coverage. So i need to know which medical card can compliment me. I will start using it once i retired or resign from the company.

1. Is there any medical card that will reduce my annual payment if I dont claim/use medical card at all?

2. Outpatient without hospitalization - specialist visits. Most i find out only cover hospitalization. I believe non-hospitalization specialist visits is important too.

3. I was thinking GP (clinic) but i guess it will increase my premium?

Thank youuu!

Hi, been thinking of gettng a standalone medical card for wife and 3yo kid. I'm in government service and was thinking a low cost medical card for elective surgeries and emergency backup. Can suggest 3-5 recommended / highly regarded standalone card? When I do a search, axa emedic seems to come up a lot. A friend suggested MXM (underwritten by lonpac). Just too many choices. Hoping for a few suggestions that I can zoom in to do further research. Thanks sifus.

Your understanding on ILP needed to be beefed up.
You paid more ILP compared to standalone, because you are paying extra premium in the early year, that being saved and invested in unit trust, which used to compensate or pay the increase COI of medical coverage later on, it never deter the increase of COI.
Please be minded the investment part also can lose money instead gaining, so you also took the risk of investment in ILP.

All still comes from your own money, it never lock in the medical COI due to aging and inflation in medical cost.

In a correct insurance pov, you don't or can't or look for premium saving. Insurance is drafted based on actuaries maths, it is computed based on pool of risk.
Please don't have a mindset try to save on insurance premium by buying early, late or whatever strategy, it doesn't work that way. Insurance is a consumable financial product, you need it, you buy it.

When old, everyone will need to pay more in medical coverage, this is how insurance works, and how insurance company can be profitable.

Life insurance only needed if your have financial dependents, if you are not married and no financial dependents, then life insurance is not urgently important, except CI/TPD.

Insurance is all about financial management and personal needs, there is no single or universal rules how and which insurance needed.
Fix rules or fixed % amount must be insurance, it just means insurance company and agent can securely make fixed % profit from your wages. It is about marketing only, which doesn't address the personal needs for insurance which is different for everyone based on different individual financial position.

Excellent comment. I've been thinking for years why should I buy an investment linked medical card. Rather invest myself.
Is it possible to buy standalone medical card with a payout for critical illness or tpd? Or for that matter standing ci/tpd without life insurance? I would buy life insurance, co/tpd on myself so anything happen to be my family is ok. But as my wife is not working, I'm thinking medical card + ci/tpd is enough, no need life insurance? Any comments?

You can consider Allianz MediSafe Infinite+ as it has a high deductible option and also refund of COI up to 20% every year that you don’t claim.

Best,
Jiansheng

TPD generally comes with Life Insurance.

1. You can, but instead of doing so, I would recommend convertible medical plan which can potentially save almost 80% cost up front

2. Don't think insurance got cover for personal insurance but it's covered under company insurance

3. GP visits are only applicable for company insurance. There were pet projects for personal insurance but was subsequently dropped

There are a few companies that provides comprehensive coverage for standalone.

The AXA emedic is a good choice if you're on a budget but the annual limit may not be very high. However if it fulfills your current need. Not too bad.

Example for room 500 with annual limit 1m and no lifetime will cost only 800 yearly

Depends on you if you feel strongly on your own finances and know what you're doing, otherwise having a better overall analysis on your finances by a financial planner will help you to find out loop holes in your financial plan that you may need to address.

hi anwa, here are some other few options you can look into for standalone medical card.
AIA A-Life Med Regular
Great Eastern GreatMedic Xtra
Manulife ManuHealth Elite
Tokio Marine Premier Medic Partner
Prudential PRUDirect Med

it depends on what you want, there is no right or wrong getting investment-linked or standalone medical card. it all goes down to how long you want the card to cover you, total cost, the benefits (whether to have living assurance benefits a.k.a critical illness payout or having life insurance a.k.a death and TPD benefit). so if what you are looking for is medical + CI/TPD, then the next thing you wanna do is compare if get everything standalone/traditional will be more worth it or buying one investment-linked plan with all the benefits in it. compare then make the decision that suits you the most. our job is to show you the options and weigh between the options whats best for you

This post has been edited by ckdenion: Aug 23 2020, 03:17 PM

Thanks so much for your reply!


I have to check back with my agent on the details. Asked to compare a lot of policies, so i was overloaded with info haha. Yeah make sense, i should go through some financial planning to get a clearer picture. Thanks!


Thanks for your reply. By objective, do you mean for example, a person wants an amount that can cover all loans and also for the family (if married) to survive?

Well, if I knew everything about ILP or insurance,or my understanding doesn't need 'beefing up', I wouldn't be asking questions here now would I?
Even if you are an expert in insurance,there's no reason to be condescending.

Did i say i want to save on insurance premium by buying early or late or having that strategy? Don't put words in my mouth.

I didn't ask for rules on how much or which insurance needed. That's why i literally said 'opinion'. As before, don't put words in my mouth.

There's a saying I hold on to since i started working. 'If you think that you are rich, a lot of people are richer than you. If you think that you are smart, a lot of people are smarter than you'. But yeah i am trying to learn more on insurance, and you should learn some manners.

This post has been edited by afif737: Aug 23 2020, 03:47 PM

If previous post was not in good manner, then apology for that. It is not my intention.

The reason of a little more strong word on ILP, because there were plenty of discussion always being loaded with misleading statement from few irresponsible agents that tell clients, premium is fixed so that they don't need to worry on premium increase like standalone.
Also, there may many potential misleading statement of "buy early so that premium will be cheaper", which is quite a common misunderstanding.

As a result, it may lead to many non-well understood clients that keep on trying to "save" or "buy cheaper" mindset in insurance, which eventually when something in the future is not as they expected, then say insurance or agent "cheat". <--- quite common when their ILP received letter or premium revision due to sustainability issue.

Just want to ensure everyone well understood and clear everything when signing up insurance, because insurance is long term commitment, which could affect personal cashflow problem if it is not well managed.

Insurance is buy what you need, there is no cheap or expensive insurance, as insurance is highly regulated industry.

Nobody claim who is smarter, we are here to share info and always learning with each other, and open minded for every aspect.
Cheers.

If your have housing loan, generally bank always insist of having MRTA, MLTA when approving the loan that will cover the loan outstanding if passed away. So it is not urgently need to have a life insurance to cover the loan, as most loan when taken up, most borrowers already signed up the MRTA or MLTA already.

This post has been edited by cherroy: Aug 23 2020, 03:51 PM

I do understand that a lot of people are misinformed and think that premium is fixed for ILP, but did i say that? That's why I was careful with my words and said 'the payment will not increase that much over the years'. And it was also a question. You replied to my post but you implied that i said things that i did not say. Read everything carefully before you reply and put people down (being condescending). When there are 'non-well understood' clients saying those things, then you reply to them la.

How would you feel when you ask something and someone replies but uses 'strong words' and being condescending? And you didn't even say the things the guy said you did

I ask questions about insurance because i do realize that it is a long term commitment. Yes i do agree that we are here to share info and learn from each other but when a person is putting another person down for no reason whatsoever, that is him trying to look smart or being a smarta**. Doesn't have anything to do with being open minded either.

Cheers.

Yes, take note of all your financial commitments and needs, be it protecting your income, medical cost, retirement needs and what matters to you. It should give you a rough guide what or how much you need.

on that, previously i had a friend at work that wanted to try doing that with all possibility of coverage to ensure that his family are well taken care of in case something happens.
he wanted, not just death coverage, but also
Total permanent disability,
medical for hospitalisation,
post treatment care,

then another friend chipped in to suggest,
what if you don't have TPD but just Partial....like lose of your working 1 hand below the wrist,...
you can work but that would impact his income. or current job
will he has enough to ensure his family expenses are taken care of

what about you don't die but just lost of 1 kidney.....another example.

then what about wife if kena cancer, (that are cured but had weakened her physically for years) need to have enough coverage for her too to avoid "eating' into his family saving
then again what about if she lost a leg.....that too need to be covered too

the same would go to each of his children then.

these possible scenarios continued for some time....until
another friend mentioned...what if you are retrenched or business failed?
get another new job may not continue to enjoy the previous income.
do you then has enough to pay for all those premium?

we then

This post has been edited by yklooi: Aug 23 2020, 07:55 PM

To cut the long story short and simple to answer the query.

There is no medical insurance plan that can enable medical COI will not increase that much, be it standalone or ILP.

Medical insurance COI increases with insured age risk and inflation of medical cost that is calculated based on insurance pooling factors.

This post has been edited by cherroy: Aug 23 2020, 08:57 PM

okay. I've done most of that already, now it's just getting a rough figure. Thanks appreciate it!


Well I've been thru that too. I try not to overthink. Cause it never ends hahaha

Can anyone PM me a quotation, maybe from GE and Allianz. I've got one from AIA. Looking for a medical card + life insurance/TPD + CI. I don't mind if the medical card has a deductible. Life and CI with a coverage of around 300k. But would also appreciate one with 1mil coverage just to see the difference. Really appreciate it.

For those who just wants to be a smarta**, don't bother PMing or replying thanks.

Hi afif, do you mind to look at something from company not mentioned above?

Hi, i am deciding between AIA A Life Link 2 vs Prudential PruWithYou, can someone assist on which to opt with??

AIA A Life Link 2 Plan: (80 yrs)

A-LifeLink 2 (ALL 2@80)
A-Plus Disability Care (APDC)

Rider(s)
A-Plus Health (APH@80)
A-Plus Early CriticalCare (APECC)
A-Plus AccidentShield (APAS)
Riot and Civil Commotion (RCC) on APAS (APAS/RCC)
A-Plus Venus (APV)

Premium: RM360 P/M


VS


Prudential PruWithYou (Basic) Plan: (80yrs)

Total Multi Crisis Care 51 100,000
Acci Guard Plus 41 100,000
Acci Med Plus 41 10,000
PRUMillion Med

Premium: RM410 P/M

So, why is Prudential more expensive with less coverage in terms of riders?? is it better to go with AIA?