Ah okay, it is indeed low price. Normally i will advise to take up medical card with higher limit if it is within your budget. For your case, try looking for 100k-150k CI + a million yearly limit medical card. RM200/month is able to do that.

Do take note on the premium rate of every age ya since you are getting standalone medical. Check Page 2 for the premium rate.
AXA eMedic brochure

This is CI Term Insurance from Great Eastern, check Page 5 for premium rate
Great Eastern CI Term Insurance

Hope the above helps!

I have check if i add on their “eLife protector” from AXA, my total for eLife protector + eMedic” would come up to RM83.65/month

Life protector is death or TPD covered up to RM200,000
Medic for hospitalisation up to RM100,000

Is it a good deal?

Looks okay to me

is there CI coverage? btw since i cant do any analysis with you, how much is the life insurance and CI insurance you need?

life insurance (death/tpd) 200k
ci xxx
hospitalization annual limit 100k

Unfortunately theres no CI

Life insurance for 200k seems ok for me

Can claim due to stress staying at home?

Haha don't think so

Ok, need to buy insurance, I think covid will last long. Last month gained USD300 lump sum due to one of my beg delayed arrival at my destination. USD150 for buying replacement bag due to damage claim to airline. And GBP600 spending reimburseable until receive my bag.

Insurance is good especially got loophole to milk them for our benefit. Thats why we get insurance as well.

the link i attached to you, is a term CI whereby it also covers 10% bereavement payout

for example you bought a 200k CI, so there will be a bereavement payout of RM20k. see whether this helps. you can also check out Great Eastern Term Direct. 200k Life Insurance is RM34/month.

Take note that eLife protector from AXA is a yearly renewable plan which means every year the premium would be revised based on your age. The renewal will only be up to age 75 and there is no more extension after that.

Thanks for the input

Question on changing nominees: currently my nominee is my sibling, but I want to change it. Do I have to get their signature? Because when I nominated them, they don't know about it. And now because our relationship has soured, I want to revoke their nomination. Question is as above, do they need to agree and sign on the change of nominee form?

Edit: More information from this PDF file: http://www.insuranceinfo.com.my/_system/me...nominations.pdf



And from here: https://www.rockwills.info/insurance-policy...on-in-malaysia/

So then, in the case of a sibling nominee, if in my will, I specify a different person (not my sibling, as nominated in my insurance policy) as the beneficiary of insurance payout, my sibling can only receive the money and will need to pass the money to the executor for him to distribute according to my will?

This post has been edited by Aurora Boreali: Mar 28 2020, 08:31 PM

Hi Aurora Boreali, in your case, your brother is a non-trust nominee and you can change the nomination without his consent. According to Section 167 of Insurance Act 1996, your brother is only acting as an executor even though he is the nominee of your insurance policy and he has to distribute the insurance money according to your will/distribution law.

If you are single and your parents are still living, then your parents are trust nominees. If you nominated your parents, you will need to get consent from your parents to change the nomination because your parents are trust nominees.

However, I would advise that you change your nominee as soon as possible to avoid any complications in the future.

Update on my post: Financial Services Act 2013 (FSA) is the governing law in this matter and replaced Insurance Act 1996.

FSA also reconfirms that the non-trust nominee under Schedule 10 Paragraph 6 ( Section 167 Insurance Act 1996 previously) who receive the policy moneys will do so as executors and will have to distribute the same in accordance with your will or the relevant estate distribution laws.

In fact in the nomination form (from Great Eastern), it has clearly stated that if the appointed nominee is other than spouse, child or parent shall receive the policy money as an executor and not beneficiary. For your brother to receive the policy benefits and not as an executor, the policy need to be assigned to him and he needs to sign an assignment form.

Hi everyone,
I am currently using pruhealth plan and my annual limit is 100k but life time limit is 1 million.
I wanted to upgrade to a plan with no annual limit and focuses purely or mostly on just the medical card and prefer to have as little investment as possible.

My agent recommended me to get pru value med, would this fit my needs?

Thanks!

I see, I saw 2 different forms, not sure which is the latest/valid one:

https://www.greateasternlife.com/content/da...-of-nominee.pdf

https://www.greateasternlife.com/content/da...minees-form.pdf

Yes, I think your agent proposed the right plan for Prudential policies. Technically PRUValue Med has no annual limit, but it's a co-insurance so every hospitalisation visit you have to pay a certain amount of deductible (RM300) to claim from Prudential.

Hi Aurora, indeed your siblings are non-trust nominee (only act as an executor on behalf of the proceeds). You can change the nominee without their consent.

you are also right on the beneficiary stated in the will part. Your sibling (executor) will need to pass the proceeds to the beneficiary of the insurance policy stated in your will.

hi Aurora, this is the correct form
GE Change of Nomination form

hi smokymcpot, pruvaluemed has no annual limit and no lifetime limit. only thing is when your claims exceed the PVM point, any other medical cost incur after that, the co-insurance will be 20%.

perhaps you can compare between Pruvalue Med and Prumillion Med

Pruvalue Med (no annual and lifetime limit, exceeded PVM then co-insurance will be 20%)
vs.
Prumillion Med (more than a million annual limit with no lifetime limit)

If you're still single then it's a non trust policy if you nominate your sibling, if you would like to change it, you can do so by filling up the nomination form to revoke the earlier nomination.

It will however its an investment policy plan so if you're looking for minimal investment then you may need to look for standalone medical card like aia a med regular.

The Pru value med comes with high limit but will have 20% Co insurance once you exceeds that amount.

All insurance provider will offer this too right?