I am not familiar with the other companies, but Prudential ILP will transfer the ownership by default from the parent to the child insured right after your 25th birthday.
They will send out the notification & relevant forms to fill up when the time is ready. I assume that life insurance companies generally should be the same.
I'm not entirely sure about your circumstances, I have never heard of this "conditional assignment" either...?
Perhaps you can consult with the CS on this matter?

For my case, I never thought that I could attain the complete document thru the general inquiry. It was sort of like last resort to me.
Cuz back in my mind, insurance policy was all about personalization, and I assumed agent is the gateway to those information.

When I was lack of info on my old policy, and I realized my agent is not my ally to begin with (yes, sarcasm intended) I googled intensely using different keywords hoping to capture some old brochure/annexure in the internet. I managed to put together some scattered info from old brochure & discussion in forums, at least better than nothing.
Perhaps you could try it, too since you have limited access to the information.

Conditional assignment is when the policy owner (my mum) pass away then only I become the policy owner.

Absolute assignment is they transfer the policy owner to a new person / can be anyone include the insured person (i think can only transfer when the new person is 18 years old).

HLA dont have automatic transfer policy as far as I concerned.

Since my medical card is R&B RM100, annual limit RM50k, lifetime limit RM150k and outpatient kidney & cancer RM30k, and cover until 70 years old only, i plan to have premium holiday and let the insurance cease itself then I bought a new insurance with better medical card before it cease. (Coz I cannot do cash withdrawal or surrender it, my mum dont let me surrender, saying the old insurance policy is good)

Ps: She bought from Hong Leong Bank, and the manager had left the branch. If not I will sure find out the agent who sign up my mum.

Can I downgrade my AIA family takaful plan (the standalone one which cover me + 4 children) to cover me only instead of my whole family. The reason is firstly because of the current economy which is my family also affected. But I planning to take online product which cover pretty much the same coverage for all my children with almost 50% in reduction of premium compared to now. Of course if this is possible I will still go on with current plan + new plan for 4 months before switching in case the 120 days waiting period case happen.

Pls review my thoughts

As of now, i am currently covered sufficiently by my company for medical and life

If i were to retire in the same company at say 60, and then get medical and life, would it b feasible?

What is the premium difference if i bought since 30 and the price of the premium at 60 compared to when i buy at 60?

Hi Ck

I am worried to bout my health at 60
But i guess am taking the risk
I hav a question tho to confirm
If i were to buy since i was 30 and the premium i pay at 60
VS
If i were to buy at 60 and pay premium at 60

Will there be a big difference in premium at 60?

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 guys noob question here, i got medical insurance on my friend on 2016 at 3k per year / 250 per month. i know he is getting commission first few years, as time pass the commission get lower. recently he find me again and proposed better benefit and remain 3k per year but i see his commission column have renew again to higher percentage. was wonder if he keep proposed and renew my policy to better plan meaning my allocated premium is getting lesser right? is like pay him more than i pay insurance company. should i reject the proposal even the upgrade benefit sound good.

ps: i hardly sick and claim insurance one. purpose of buying one is of course own responsibility for my family and reduce tax.

please advice

Hi Sifu here,.

Wanna ask any Allianz agent here,  currently holding Allianz Powerlink with CI and medical rider since 2013.
This month, my agent talked to me if I want to upgrade my current medical plan to a better benefit one. He gave me a quotation, by phone, the suggested premium will be increased from RM150 to RM230 monthly. My age is 44. After increase of premium, the policy can sustain until the age of 58.

My current benefit:
Death and TPD : RM60000
Critical illness : RM30000
Medical : R&B RM150, annual limit and lifetime limit : RM1 million, can upgrade to RM850K annual, unlimited for lifetime.

I asked him was it possible to pay RM200 monthly? He said cannot, RM220 was the minimum premium I need to pay in order to sustain until my age at 58. I said I can reduce the benefit of death, and mainly focus on medical protection. He said I still need to pay at least RM220 even reduce my death benefit?

So any Allianz agent here willing to use your Allianz quotation system to help me calculate the minimum premium I can pay? Is it die die must pay suggested premium, cannot be lower than it ? I know if the increased premium is too low, it cannot sustain longer. But I just want to upgrade first, for better benefit. I don't mind top up more when I get older.

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)
2017 allocated 43%
2018 allocated 43%
2019 allocated 76%
2020 allocated 76%
2021 allocated 85%
2022 allocated 85%
2023 allocated 100%

His new proposal
2021 allocated 60%
2022 allocated 60%
2023 allocated 60%
2024 allocated 80%
2025 allocated 80%
2026 allocated 80%
2027 allocated 95%
2028 allocated 95%
2029 allocated 100%

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.

I received a SMS regarding this:
What is this all about?

And there's an article in RinggitPlus:

Industry Stakeholders: Untimely To Increase Insurance Premiums Now

Several parties and industry stakeholders have spoken out against insurance companies for increasing insurance premium payments during the present challenging period, saying that the hike has come at the wrong time.

For context, several major insurance companies had announced earlier this year that there will be an “inevitable” hike in medical insurance premiums in 2020. In fact, some have already sent notices to inform their customers of the expected increase in premium prices.

The president of the Malaysian Medical Association (MMA), Datuk Dr M. Subramaniam said that instead of raising premiums, insurance companies should find ways to make medical insurance more affordable. He also said that the increase will affect the B40 and M40 groups the most as they are among those worst affected by Covid-19.

https://ringgitplus.com/en/blog/insurance/i...dBOTsQDUgW94vbs

Hi, would like to ask the shifus' advice for my insurance plan.

Am thinking of switching my current investment-linked medical plan from Prudential to AIA since my current workplace is using AIA as the company insurance and I feel that AIA has higher coverage, easier claims process, plus it's linked to AIA Vitality, which I also use. Also, I feel that the reputation for AIA is slightly better than Prudential as I've been to the hospital using my AIA company card for physiotherapy, and I often overhear the admins bitching about Prudential's claims process.

Currently, have the most basic PruValue Med plan for RM150 per month (soon to be RM170 next month due to the price hike):

PruLink One Death/Disability: RM30k
Crisis Shield: RM30k
Enhanced Prupayor Basic: RM1.8k
R&B: RM200
PruValue Med Points: RM1mil
Deductible: RM300
Coverage: until age 70 (current age: 34, F, non-smoker)

Had this plan for three years already and the fund value is minimal, so I don't really care about the returns at all, just the death/disability payout, if anything happens to me (no dependents, but the money would help pay for funeral expenses, loans, etc). Since I utilize the company card, the Pru med card is just for back-up.

An AIA agent has drafted a quotation for me for both investment-linked and standalone:

Quote 1: (investment linked)

A-Plus Health

Death/Disability: RM50k
39 Critical Illness: RM50k
PA: RM100k
Annual limit: RM1.5mil
Life time limit: unlimited
Deductible: RM300
R&B: RM200 (Gold Vitality members can get this increased to RM300)
Yearly health wallet: RM1.5k, provided there are no claims for that year
Prevention benefit (health screenings/vaccines/etc): RM300/yearly
Coverage: until age 80
Premium: RM290

Quote 2:

A-PHS Standalone

Annual limit: RM1.375mil
Lifetime limit: unlimited
R&B: RM200
Yearly Health Wallet Amount: RM1,250
Prevention benefit: RM300 every two years
Outpatient physiotherapy: RM6K per year
Coverage: until age 80
Premium: RM152

Judging by the premiums, there's a difference of RM138 and I am not sure it's worth it to get an investment linked product, when I'll just be using the card as a backup card. I can always invest the extra difference in ASB/UT as well. Am quite undecided whether to go for the investment linked card or the standalone card...keep hearing that it's better to separate insurance from investment.

Also, another good thing about AIA is that it offers goodies in terms of the Vitality app, plus the prevention benefit (Prudential doesn't offer this). However, is the higher premium worth it for me to switch from Prudential to AIA? Am relatively healthy, no surgeries or claims for the past three years on my personal card. Immediate family health history is clean as a whistle as well.

Appreciate your advice.