Need to provide as other remind.

And what kind of protection you look now? Life plan, Medical plan, Income protection plan?

And roughly monthly budget.

In times of uncertainty, it is always better to have more. Now for a limited time only, here's how you can maximise your health protection with us:

1. Purchase RM1 million medical coverage
2. Get extra RM2 million medical coverage at no additional cost*
3. Enjoy RM3 million total medical coverage!

* The insurance charges are not guaranteed and may be revised due to adverse claims experience.

Applicable to all new SmartMedic Million policies submitted between 16 November 2020 to 31 January 2021.

https://www.greateasternlife.com/my/en/pers...SZx_cgrbA6MRBuI

i liked the upfront Disclaimer *

This post has been edited by yklooi: Jan 24 2021, 07:44 PM

Not too bad actually for the offer.

Just hopefully the portfolio doesn't have high claim volume otherwise the revision is definitely gonna sky rocket the premium than their normal plan.

The reason ppl bought GE Supreme Living Care back then was because they either don't like the risk involved with ILP on the fund performance / cash value return but wanted something that is guaranteed in premium + an average protection value.

If your sole purpose was for "returns" then I'm afraid the plan doesn't serve your purpose.

Life Insurance itself already has Death Benefit and TPD payout benefit as what I mentioned earlier. also you can provide more details for us here to generate proposal for you. Age, gender, smoker/non-smoker, occupation

hi netcrawler, whether to surrender or not, it really depends on what your concerns are. we can't simply ask you to surrender solely because the return isn't impressive. the main concern when it comes to insurance is to mitigate certain financial risk that we might face should uncertainties happen. have you discuss this with your GE agent though?

I have few policies with GE, plan to surrender one but no hurry. If I stop paying premium, would it affect my cash bonus or policy lapse?

it depends what plans they are - Traditional (participating plan) or ILP (non participating plan). if your plans have bonus, then it belongs to traditional plans.

for traditional plans if you stop paying premium, when you surrender, it will be total amount less any premium due + any premium due interest. the policy will only lapse if whatever amount inside goes to 0 because of large amount of premium due.

The amount inside go to 0 mean cash bonus becomes 0 or any other things? As the Agent mentioned last time I only need to pay around 15 years but now they continue charging premium. What if i stop paying premium? Will amount inside go to 0 probably after 10 years?

I have some inquiry on PA add on in the motor insurance.
Not sure this is the right place to ask or not.
What is the beauty of PA bundle with motor insurance?
I found the coverage amount is low but premium charges is high if compare with the PA buy from external party.
Lets take Etiqa motor insurance as sample. it charge rm120++ PA for 10k protection.

This post has been edited by alandhw: Jan 24 2021, 11:08 PM

alandhw,

What is the beauty of PA bundle with motor insurance?
you can ask your agent

charge rm120++ PA for 10k protection.
what kind of protection?

Death and PD.

in market, RM120 can get 50k D/TPD for 1 person coverage occupation class 1&2

Yes, i am aware about this. that why i wonder what is the beauty of PA buddle with Motor insurance.
I could see the only benefits is unlimited towing

I cant find back my post regarding the GJA for u. However, Supreme living care is a 3D policy which cover death, total permanent disability, 36 critical illness. It is a participant product which give cash bonus yearly. It covers till 87yo and premium remain till 87yo.

a few questions to ask b4 u decided to surrender:

1. What the purpose when u signed up in year 2007?
2. what is the initial sum assured? * after 14-15 years the sum assured has increased.

The the premium of 1,4K to buy a CI plan is very cheap and cant find it now. The agent was saying after 14-15 years, you may opt to use the cash bonus to pay the premium. You can check the contract and see how much the cash bonus payout starting in year 14-15? the cash bonus may able to cover some premium not in full.

My opinion is the same, keep this policy and review it with an GE agent.

you can remove the PA insurance but some of the vehicle is high risk whereby the underwriter require the insure to bundle it with PA.

ignore what agent told you about how many years you need to pay (payment term). refer to the payment term in eConnect, that wont go wrong. last time one of the ways agent sell this plan is asking you to pay x years and let the amount inside pay itself until end of policy which i think it is not so transparent.

When you stop paying premium, if supposedly you still need to pay, then by stopping premium payment, company will "pay" for you and charge interest on the amount due. so end of the day when there is payout from the policy, it will less the amount you owe + interest accumulated. by the way it is better you screenshot your policy details from econnect (if you dont mind, and you can censor off some sensitive data). better in that way so can give more appropriate advice.

hi alandhw, i dont see the benefit in bundling together though. you can add comprehensive PA benefit in your existing ILP insurance policies.

The insurance company tries to bundle it to bring more value to you as a package.

That being said, standalone PA plans are more comprehensive depending on what kind of benefit you're looking for in the a event of an accident.

Some may extend coverage for Dengue as well.

wykoh,
Touch wood if hospitalized due to COVID, do you know Gov actually allocated RM100mil fund for private hospitals to treat Covid-19?
Now Gov can cover treatment even in private hospital, therefore, no need panic of medical card coverage.

But why some people raise this discussion, because association represent private hospital worried the fund insufficient in future or some agent use it as marketing. This create unnecessary stress to rakyat.

Actually, both Prudential and AIA has certain medical card series do not have exclusion of pandemic like Covid 19.

What you can do now is get the policy book out and read carefully or ask your agent to review together.
By the way, which insurance medical card you holding now?

To have covid treatment coverage either gov fund or medical card, KKM referral/ transfer letter is compulsory to admit private hospital. Otherwise, you are on your own.

For details procedure, we still waiting for KKM portal to announce.

What AIA is doing is merely a marketing gimmick. Inside your policy it will state hospitalisation benefits. For example if you go to government you get for example rm60/day allowance. Or if you go to private hosp you get rm200 allowance. Now they just turn it around and say you get covid coverage. It’s a pay and claim basis coverage and SUBJECT to “reasonable and customary charges”. So if your bill is rm40k for instance but what is considered reasonable and subject to customary charges is only rm2k for example. So the other rm38k come out from own pocket la.

Always know what your financial rights are. Have an awareness of the timebombs in your policy.

erm... you dont need to paint it so black. your example abit too "melampau".

insurance companies dont cover you less just because it's pay and claim basis. this is the mindset of the general public but no basis.

if someone has nothing to hide, insurance company dont cheat you. the purpose of RCC is just to avoid exorbitant charges. so you should question the hospital if they charge you RM200 for 10 biji panadol right? this is what insurance companies want to avoid.

and no, it's not gimmick even if it's pay and claim. the word reimbursement is written all over your insurance contract.

the earlier forms of medical insurance is probably without medical card and pay and claim basis or the more canggih word, reimbursement.