Hello Guys,

Out of the below-shortlisted ones, which one you think is the best?

AIA: https://www.aia.com.my/en/our-products/life...life-joy-2.html

Pru: https://www.prudential.com.my/en/our-produc...fant-care-plus/

Pru: https://www.prudential.com.my/en/our-produc...umy-child-plus/

GE: https://www.greateasternlife.com/my/en/pers...ect-junior.html

You may also want to look into Lady360 as it gives specific coverage to the mum-to-be during pregnancy in addition to attaching child related coverage:


https://www.aia.com.my/en/our-products/crit...fe-lady360.html

Hie... Looking for suggestions for life insurance.
Planning to take 2M coverage for life and 500k for critical illness. Is it advisable to take under 1 company or multiple company ex 500k per comp to diversify. Kindly advise

Hie... Looking for suggestions for life insurance.
Planning to take 2M coverage for life and 500k for critical illness. Is it advisable to take under 1 company or multiple company ex 500k per comp to diversify. Kindly advise

Good day friend,

You can get multiple quote to compare.

Even in ONE company got different type of life insurance benefits.

Some life product plan got capping limit for accident death.
Example you take 1M coverage. Accident death in public conveyance suppose to 300% of your sum assure
which is 1M x 300% =3M
BUT the life policy is actually CAPPING at Maximum 2.5M

To get quote you need to provide age(exact birth date)
Gender / smoker / non smoker / occupation and brief info.

#StayHome #StaySafe

hi RoGuEWave, i recommend you get under 1 company. if you are getting from agents, you are going to deal with more than 1 agent for only this particular application and from there you will also get different different opinions (i afraid). unless you are going to engage a financial advisor representative, then it will be a different scenario.

All this while i was tinking to take under 1 comp until someone came up with diversity, reasons incase in future cant handle the committee u still will have partial insurance then losing all in 1 go

Thanks for the info not aware of the capping

It will still be the same when it comes to payout of the claims.

There is a questionnaire for you to declare how much you're currently being covered for insurance, even if you don't, they will be able to detect on your coverage by LIAM. So it doesn't matter if you buy from 1 or multiple companies, you will still be required to declare on your financial status or health if it exceeds certain limit.

In order for me to do a quote for you, I need the following info

Age, Gender, Occupation, Smoker or Not.

Adding on to the suggestions above, different plans have different coverage. 20 years plan coverage will be significantly cheaper than a whole life plan. So it depends on your budget and your needs on how long the coverage is.

Another thing to consider is the fund performance if you are opting for an investment-linked policy. Have to take note at the sustainability of the policy as well which will affect your budget as well.

It would be prudent to have the policy written by one insurer to facilitate your claims and reduce  administative work. Your concern on future needs to increase or decrease sum assured can be adequately addressed with proper planning and designing of the policy that will not impact the inforce-ability of the insurance policy.

The coverage that you're buying is quite high and can be quite costly. Would suggest that you buy from 3 insurers to diversify due to the following reasons:
a) the investment returns of each company can be different (yes, the actual investment return can affect the sustainability of your policy)
b) reduce the risk of getting stuck if the life insurer goes bust. In this regard, it is best to choose from a well capitalised company. But still, it's good to diversify.
c) Underwriting requirement can be very high if you purchase 2M coverage from one single company.

Don't worry too much about "admin cost" because the insurance charges (e.g. upfront cost) is usually a fixed percentage of the premiums and any stamp duties (fixed costs) is usually minimal compared to your premiums. Also, if your agent service is good, he/she will help you to administer your policies anyway when you need to make a claim. There wouldn't be any additional cost charge to you when you make a claim because the insurer will pay the sum assured amount and there won't be processing fees for making a claim.

Having said that, some policies may offer you some discounts if the sum assured is high. That is why you may not want to over-diversify across 10 companies. 3 insurers is just nice.

The only real cost to you is the hassle of filling up proposal forms 3 times, but the benefits of diversification will be worth the hassle.

I am surveying which insurance company i should get my first coverage from. I currently have a stand-alone medical card from AIA since when young (annual limit is very low).

I got quoted and proposal from AIA and GE. GE is wayyyy cheaper than AIA and GE provide higher protection with same premium.

But im curious hows the claim like with GE? Cus i heard some company very difficult to make claim? Advice pls? In dilemma.

I guess, its more like case to case basis and depending on how long ago you bought the insurance plan and how complicated the situation is?

In my experience, GE is relatively easy to claim and clear cut for my clients as long as you can provide the hospital receipts and doctor's statement. You can ask your agent to do all the follow ups for you.

Hi Roguewave,

I have been working together with a GE and Allianz agent for reasons being some clauses that we like in each other's products.

But it's what you want that matters and we'll see what we can work out for you, and we can proceed from there.

Hi,
Need advice:

My existing policy as below
Prudential
Life: RM 100,000
43 types CI: RM 100,000
Accidental death & disablement: RM 100,000

Medical card:
1) Room: 200
2) Annual Limit: RM 1,380,000
Monthly premium: RM 250

Currently my agent propose me to top up RM100, the new coverage as below
Life :RM200,000
160 types CI :RM 100,000 (x4 times)
Medical remain same coverage
Is it advisable to topup?

Thank you.

hi tyenfei, what do you mean by life policy capping at maximum 2.5M?

im not so sure of "cant handle the committee" means. can you elaborate more?

hi Angel-Look, since we don't know the details of the plan benefits, it's difficult to comment much on that. for claims wise, i'd dealt with claims from a few companies like Allianz, GE, AIA, Prudential, AXA and Manulife, sp far not difficult. you just need someone that can follow up and guide you what to do will do.

hi Onioncapsium, if the coverage is something that you find that you need to cover your financial risk management shortfalls, it's ok to go for the top up. your Prudential plan is quite new though.

Anyone working in insurance right now? Particularly in the claims department?

Somehow, I got a feeling that once MCO ends, there would be a surge of claims. Particularly, burglary and money losses. Confirm a lot of fraud cases

So, whoever is doing these types of claims... Good Luck

Halo CK,

Not GE policy. From .. one of the A

To be correct, it is the accident death benefit capping.

As we know most Life ILP plan got extra 200% / 300% some even 400% for accident death.
Somehow I received a quote from customer, I saw the accident death maximum cap at 2.5M.

She ask for 1Million life sum assured. Public conveyance is 300%. The RM2.5M cap affect here. She won't get RM3 million claim in this scenario .
No issue for RM800K and below sum assured.

... so this is why some telling insurance cheat because they miss the T&C.