As I've already replied in that topic itself, it is important to understand whether 30% is based on account value or based on the sum assured.

In this case, it's clearly showing 30% of the sum assured 200,000. As the guaranteed yearly payout is RM60,000 consistently.

IRR on the low assuming RM1,332,768 = 0.638%

IRR on the high assuming RM3,032,586 = 5.750%

IRR on the mid assuming RM2,182,677 = 3.680%

if you're buying the plan for the purpose of capital / wealth preservation, yes it seems okay but won't do well against inflation.

if you're looking for higher returns and not lock in for the next 20 years, this is not the plan for you.

if you hold it less than 20 years, you will definitely lose money.

Hello ? can you please quote a text that says I am selling insurance using fear ? if you're going to quote me on using assumptions earlier.

Did I say you? I was referring to "the person", if that "person" you think refers to "You" then I guess siapa makan chilly, dia rasa pedas lo. I didn't point anyone in my previous post on who is that person btw.

Assumptions are necessary What-If especially it happen in real life, just because a situation doesn't happen to you doesn't mean it doesn't happen to someone else out there. If you think you are in luck and God given, you live till 80 without getting sick, accident, died of old age. All is well for you. Good job saving those years of premium, too bad for insurance company ay? I don't think the insurance company cried about it though IMO.

I am still waiting for you to provide me with the answer on my earlier question on the 3k passive income guy, hopefully you don't change anything in the question and answer accordingly without adding on any other factors.

Hence my advise is, seek a good agent to do all the necessary reviews before they proceed to take any action or risk losing money / opportunities.

Not every human has next 20 years ahead of them.

alamak, pose you a question then you think I got triggered.

You mean you think you're allowed to ask questions and advisors can't ask questions ?

Fair abit la, I ask you a question you clown about saying unethical to ask

Mind you, I was asking the question properly instead of trolling and asking you nonsense, but seems to me that you either don't want to answer or just ignorant to only want to listen to what you want to listen.

yea hopefully they can pick up some financial knowledge, though it can be dry and boring sometimes. But it's quite interesting once you get a hang of it.

Thanks bro, this is a good exposure for the agents out there that there are more perspective look into than just looking at one angle which is just selling insurance blindly.

There are countless “what if” situation. If I may add, sometimes people buy into additional coverage or insurance rider which may not be necessary. It’s like that extra bling you can get in a new car if you pay slightly a little more for the higher model in the variant.

Or should I use the word /k, top up a it more get “something better”.

Again, spending for insurance is an opportunity cost, there must be a a balance to it so that you have the money to do other things I.e spend on yourself, invest, do something you want with the money for lifestyle, food, entertainment, self studies. Life is all about living it.

A proper agent should be able to advise the balance, if they can’t then they are probably just selling for the sake of selling.

However, if a person decides he wants to cover more of his personal risk by having more insurance, who are we to tell whether he is right or wrong with his decision ? Similar to the existing case where you mentioned he had group insurance, does he need a personal insurance ? Is akin to a parachute who has a main parachute, should he have a back up parachute as well ?

This post has been edited by lifebalance: Aug 11 2020, 09:10 AM

Just declare as it is.

what's your current consideration ?

what are you looking for exactly ?

This is a common mis-selling on Investment Linked Policies where agents do not explain the end-tail on policies that is attached with Medical Insurance.

You will accumulate cash value over the course of the years with the insurance company, however, as your age progress, the insurance cost on the medical insurance will eat up on the cash value accumulated until it is RM0. Hence when you look into the "end of the day" sales illustration, it will end at 70 years old (depends on the age that the agent set in the system to compute the proposal) with RM0.

In term of comprehensive coverage between these 2 companies, Allianz will be better than GE.

However, if you are more concern about overall benefit, then there are better alternatives.

If your purpose of buying the policy thinking you will make good investment return out of it. You are buying it for the wrong reason.

This post has been edited by lifebalance: Aug 18 2020, 11:48 AM

Insurance company have the right to revise the chargeable cost of insurance as often as they deem fit. Of course by notifying you in advance. Hence you are receiving this letter.

If you don't increase the recommended extra premium that you have to pay. Your policy may lapse earlier than previously.

You have the right to maintain the same premium as you're paying now. Not compulsory to follow the recommendation.

Your agent probably didn't disclose or explain to you how the policy works before inducing you to purchase the policy with him or her. Hence you are confused now.

Cheers.

1. Depends on how old are your current children
2. How many kids you have now
3. How many kids you plan to have in the near future

Do take note that a family plan would only mean the main policy holder (one of the parent) will only be entitled for death, disability or critical illness benefit while the medical rider is used to cover the other members of the family.

The premium maybe slightly cheaper than an individual policy if there is more than 3 children in your family.

Otherwise in terms of difference in premium is really negligible if your family has Less than 3 children.

The above is just some of the discussion on features of family plan, it is not suitable for all circumstances or ideal for all families, other perspective such as coverage on both parents depending on their financial need.

If you’re buying a ILP attached with a medical rider, the premium will not remain the same over the years as it may be subject to additional top up to maintain the sustainability as insurance cost for the medical rider increases.

I don’t know much about you personally so I won’t be able to advise.

There is no fixed rule of thumb when it comes to buying insurance other than what is used by other advisors.

If you want to make sure you are covered well. Get a proper advisor to understand your financial background.

1. You can, but instead of doing so, I would recommend convertible medical plan which can potentially save almost 80% cost up front

2. Don't think insurance got cover for personal insurance but it's covered under company insurance

3. GP visits are only applicable for company insurance. There were pet projects for personal insurance but was subsequently dropped

There are a few companies that provides comprehensive coverage for standalone.

The AXA emedic is a good choice if you're on a budget but the annual limit may not be very high. However if it fulfills your current need. Not too bad.

Example for room 500 with annual limit 1m and no lifetime will cost only 800 yearly

Depends on you if you feel strongly on your own finances and know what you're doing, otherwise having a better overall analysis on your finances by a financial planner will help you to find out loop holes in your financial plan that you may need to address.

What is the amount covered for AIA benefits?

Pru covers multi CI vs AIA covers early CI but not multiple CI.

What's the R&B for Pru?

What's the age of this person? Smoker? Occupation?

@.@ so many missing details

No right and right or wrong between Plan 150 or 200, subject to your personal preference to get a better / higher coverage by paying the additional differences or not.

if your budget allows you, get Plan 200. You can benefit from the Health Wallet which you can't get under Plan 150.

This post has been edited by lifebalance: Aug 25 2020, 04:24 PM

AIA would have a more comprehensive coverage overall since it also includes Female disease coverage (I'm assuming you're a female since it can only be sold to females).

On top of that there is an early CI coverage. Though you have to take note the payout is 30% / 60% / 100% ratio (Low, Mild, Severe) CI.

For the claimable conditions, you may refer to the policy later on. You will get to enjoy Health Wallet from the medical card benefit as well under Plan 200.

For Pru wise, main difference would be the CI benefit which can be claimable multiple times. But that's about it.

Lastly, as for whether the insurance plan you are buying suits your needs or not (the sum covered and benefit rider that you're adding now now). Will not be able to comment on that since I don't know you personally to advise on that.

You can do so actually if you want to save cost by going for UMMC / HUKM.

If cost is your main concern to get a better benefit card.

Here is an alternative:
Room 550
Annual Limit 980k
No lifetime
Premium RM2,000 yearly

This is alternative to the AIA plan, not from AIA though.

You want to sustain to age 100 ?

Then paying double of the existing premium is logical.

https://www.aia.com.my/content/dam/my/en/do...venus-extra.pdf

There is not much difference beside coverage on pregnancy complication, congenital abnormalies & death of foetus, unless you're planning to have a baby soon then getting the Venus Extra will be more beneficial in the near future.

That being said, I'm surprised your agent didn't explain to you between these 2 before it proposed to you