Hi,

My sister (26) is planning to get a medical card and critical illness policy. She is contemplating whether to go for a standalone medical card first which is cheaper or ILP which bundles up life + medical card + critical illness. For now she does not have any dependence, so is thinking that is it really worth it getting an ILP life insurance..

Hi what's d case for medical card if government hospital is cheap and company already provide insurance?

Is the RM100/month medical card justifiable..

I see, I thought every agent has access to my policy, they can perform policy sustainability and quotation using Allianz system for me if I give them the figure.
My agent sounds unhappy and hanged up my phone when I turned down her proposal. That's why I asked other agent's help. Indeed she can explained to me if I still doubt.

P.S. The branch can do the quotation, even the counter staff? What if I call Allianz general line? Will it help?

hi guys, sorry for misunderstanding. my current is medical insurance, not sure is ILP or what. my friend ask me to change (i think is adjust) to GE million you guys discussed above. my concern is lets say 3k per year, if he renew, then my allocated sum are collected lesser by the GE more are flowing in to is income and other charges.

Current policy (3k//year)

2021 allocated 85%
2022 allocated 85%
2023 allocated 100%

His new proposal
2021 allocated 60%
2022 allocated 60%
2023 allocated 60%

logically if salesman get more commission, meaning the actual price the buyer pay will exchange for lower value stuff?
his higher commission mean, money is getting less for bang for buck?
of course i know they service and is a business, but i did not ask him to approach me. he suprising text me, so is like try to sell me but of course he say got good stuff to share (in this case, better benefit for no additional increase premium & GE birthday & GE covid generous) want face to face meet and etc. i decline of course, cause sometime they are really convincing.

Hi Ewa, you are right. I totally forgot that pre-existing conditions may not be covered under my new plan. I've just spoken to the AIA agent and they also said this is one thing to watch out for. Thanks for your honest feedback.

Isnt that based on an assumption that the investments went well and has actually enough to be used to offset the increase in premium? Considering the fees involved and performance of funds from insurance companies, does it compare to standalone unit trusts funds/ investments?

Cost of insurance, definitely, since no one should be expecting free coverage for nothing. But “investment admin/ sales charge” is a diff story altogether

Possible to provide some examples on comparable stats? I’m quite curious, as to my knowledge, investment linked funds are almost always mediocre. There is a reason why some advocate buying standalone and putting the extra into their preferred investment vehicle; it serves the same purpose of offsetting later years higher premium charges with the savings, and is all the more flexible(not tied to insurance premium)

https://www.aia.com.my/content/dam/my/en/do...05_FFS_MC1A.pdf

Last year's 5 years is ~6%, not counting the management charge of 1.45%

If we take into account this year's abnormal performance, we can benchmark it against other funds too, like Principal's growth funds:
https://www.principal.com.my/en/apdg-myr , which has been doing just as well as AIA has been doing this year, every year since its inception

Nobody's blindly taking into anything, hence why the questions, especially on this statement like "Ask for the table, check how much you need to pay when reach age 51,56,61,66." I've heard too many insurance agent talking about this, as if the premium for ILP doesnt grow like standalone, when in fact it does, it's just that it MAY be offset by POTENTIAL PROFITs from the linked investments, most of which are mediocre, like the fund you mentioned, which performed lesser than KWSP (in last 5 years, excluding this year). If we take into account this year's abnormal growth, on itself, it seems good, but it's mediocre if benchmarked against market average.

https://www.fsmone.com.my/funds/research/recommended-funds

There are actually quite a few funds out there to choose from, obviously some worse than others, and some alot better. The main point isnt that however, but:

1) ILP doesnt reduce premium, it offsets it in later years via potential profit from their linked investments

~~Insurance policies do not reduce premium without reduction in benefits. It's correct that capital gains from your investment portion should help pay for the future increase in cost of insurance.

2) Standalone + personal investment may work out better than ILP. The key point of this, which some people advocate, is focus and flexibility. Without being tied to a particular insurance companies' funds, you're able to balance your portfolio whenever, and via whatever vehicle you prefer, using whatever tool you deem most transparent.

~~ It would be beneficial if they put in the effort to manage their own portfolio. These requires some investment knowledge and time too. Not sure if many policyholders have this inclination.

My issue with ILP (I have most experience with AIA currently):

1) Reduced visibility on earnings report. It's super hard to find details on my ILP performance specific to my investment ( I'm not talking about general fund performance, it doesnt quite reflect my DCA frequency and cost of maintenance). Maybe it is different with other insurance platform. But My AIA seems good only for policy and claims (which comes back to focus, AIA is primarily an insurance company, so this being their key objectives, definitely good that it caters well here)

~~ The Customer Portal do provide details of monthly transaction, both premium paid and deductions by individual policy. Maybe some may find it not as user friendly as other platforms in terms of  investment presentation.

2) My experience with insurance agent is that they do not rebalance your funds portfolio, nor will they actively approach you on optimising funds. That isnt their strong point after all.

~~ Possible. Could be various reasons. Tough to reply😀.


So this is actually why I'm pointing out, that merely asking others to check table on "increased premium" on standalone products is very misleading. Instead of being tied to a company's unit trust funds, they could be DCA-ing into blue chip stocks, doing robo advisors, fsm unit trusts funds, etc.

Yea, those funds performed even worse unfortunately.

Medisavers (by Lonpac) website : https://www.mxm.com.my/medisavers-3-0/

Yeah i sort of understand my own policy. It has 25k ife insurance, little portion of investment and 200k max per year w 1mil limit. Plus need to pay 200 (or 300) onboarding if warded.

When compared w the rest, seems like i am paying premium for the coverage i get. With the 20% increase some more, feels like i am burning money.

I already have MLTT to put a roof for my wife and kids. So i dont really need the life insurance part.

Thus why im looking at alternatives.

Medisavers one is a little bit of too good to be true. But no bad reviews online yet tho.

mine says

congenital condition - any medical or physical abnormalities existed at the time of birth or manifested the symptoms later after birth or neo natal physical abnormalities developing within 6 months from time of birth.

this will include all types of hernias and epilepsy except when caused by trauma which occcured after date of certificate

so my argument  is there is no physical or medical within the 6 months.it happened when he was 3 years old.

also doctor think it was triggered by trauma.

If I am the policy holder for my child, can I claim income tax for the premium paid? Life&medical insurance

May I know medical and critical illness insurance bought before covid-19 time (before 2019), which one will compensate if the policyholder positive to covid-19?

where to direct buy personel incident insurane so need pay agen fee?

Guys can anyone tell me usually how much would I have to pay per month for a person under my condition? I would prefer to just have medical card. I asked some insurance agents and most said at my age it’s impossible to pay less than 300 and that really put a sour taste in my mouth.

Age : 31
Gender : Male non smoker
Occupational : Office professional

the 1.1(b) also added 'other than question in this proposal'
i have medical history, that's why i go for these 'offer' that meant for peoples like me, but still they like to add these blunt paragraph that appear they with accept my insuring yet reject my claim in future with word play.

My insurance already matured for about 6 years. If I surrender the policy, how much would
I get back the money? Add all below or only Net Surrender Value?

Net Surrender Value: 50200.20

Survival Benefis  Balance: 14040.20

Cash Bonus Balance: 18010.00

what about when "My insurance already matured for about 6 years."....like ts posted?
is it same "will  get back Net Surrender Value. Net Surrender Value would have factored in both Survival Benefit and Cash Bonus to date. ?"

like total of all these?
Net Surrender Value: 50200.20

Survival Benefis  Balance: 14040.20

Cash Bonus Balance: 18010.00

abt 82k?

Wanted to check if my plan's ok

Rm300
Life 100k
CI (early) 100k
CI (late) 100k
Med 150
Waiver

(Sustain 30-34 years)

29y/o, this looks ok?

Really? No catch?

Errr its a valid question

U AIA agent?