https://www.aia.com.my/content/dam/my/en/do...rochure_1st.pdf

Is this insurance ok?
one of the Q&A in the AIA website:-

06: WILL MY COST OF INSURANCE INCREASE
AS I GET OLDER?

As the Cost of Insurance for A-Plus Health is
deducted depending on your attained age, it will
increase as your age increases.
Is this mean that every year the premium will be increased as per the table below...

Thank you for your reply. The bolded part, it's quite difficult to say because if we lose our licence for example bcoz of a critical illness like diabetes, we won't be able to fly but we can still work elsewhere. but since we fall back to our spm bcoz we lost our licence,its gonna be hard to find a job. So an agent explained to me, in that case the insurance company will not pay up because we can still work elsewhere.
Hi. You've never heard of loss of licence because it is only offered by airlines. So as far as i know, no insurance company offers it. But some agents try to sell their product using this term which i think is wrong. I was young and ignorant when i got the policy 9 years ago. A few associations outside Malaysia do offer loss of licence. This is why I'm only looking for a medical card and life insurance.

There was a friend who told me that his life insurance coverage is RM1 mil+ and he's only paying like RM2000+ a year for it. I forgot to ask him from which company and i honestly don't know anything else about it other than those figures. Is it plausible to have that kind of coverage at that price?

hi afif, in terms of "loss of license" insurance, i won't be able to shed more comments on that since i have never come across plans that cover that. for your friend's coverage, it's very depending on when he bought it, how many years the plan covers him for, is it a term or ilp, occupation, smoker/non smoker, etc. Can only share more if he is willing to tell you all the details and show you the plan. if you are really keen on how much plan you wanna get, just let me know. i can plan something for you but you are not obligated to buy/apply anything.
hi fariz, indeed Cost of Insurance (COI) will increase as one ages. COI is not equivalent to premium ya. when your payable premium + cash value is not able to cover the COI of the plan, then only insurance company will increase your premium.

Diabetes does not count as a critical illness.

In another example, if one day you lose your pilot license because of cancer, insurance company will pay you for the critical illness lump sum. Whether you can work elsewhere or not after your recovery, insurance company will still pay you because it is based on the critical illness, not the occupation. For pilots, it is considered as occupation class 2 and this information need to be declared to the insurance company when you sign up for the life insurance policy.

It's not impossible to do RM 1 million coverage for annual premium of RM2000+. For your age, 1 million life coverage can be done with monthly premium of RM250.

Hi,

I'm 32yo. Airline pilot.

Looking for a good insurance plan. Leaning towards AIA. Medical card and maybe life insurance.

I used to have one with AIA 9 years ago. The sale pitch by the agent was it was a 'Loss of licence' policy. But actually there's no such thing. It says on my policy booklet, the plan is : AIA Assurance Account. If i'm not mistaken it is under 'occupational' policy or something like that I really don't remember. It was also an ILP. I cancelled it years ago. An agent tried to sell me the same policy, but i'm a bit wiser now, so i asked to show where it says 'loss of licence', well it doesn't. I don't think it is right to sell something when it is not what you say it is, even when it is similar.

My company does cover me for permanent loss of licence, hospitalization and also death. But the amounts are not that high. So thinking of additional insurance.

Okay so now for me personally I don't mix insurance with investment. Can anyone suggest any policy that i can read up on? Medical card and life insurance. Preferably AIA.

And also is it true when people say you should get either a life insurance OR an MLTA but not both?

Thank you in advance.

Thank you for your reply. The bolded part, it's quite difficult to say because if we lose our licence for example bcoz of a critical illness like diabetes, we won't be able to fly but we can still work elsewhere. but since we fall back to our spm bcoz we lost our licence,its gonna be hard to find a job. So an agent explained to me, in that case the insurance company will not pay up because we can still work elsewhere.
Hi. You've never heard of loss of licence because it is only offered by airlines. So as far as i know, no insurance company offers it. But some agents try to sell their product using this term which i think is wrong. I was young and ignorant when i got the policy 9 years ago. A few associations outside Malaysia do offer loss of licence. This is why I'm only looking for a medical card and life insurance.

There was a friend who told me that his life insurance coverage is RM1 mil+ and he's only paying like RM2000+ a year for it. I forgot to ask him from which company and i honestly don't know anything else about it other than those figures. Is it plausible to have that kind of coverage at that price?

https://www.aia.com.my/content/dam/my/en/do...rochure_1st.pdf

Is this insurance ok?
one of the Q&A in the AIA website:-

06: WILL MY COST OF INSURANCE INCREASE
AS I GET OLDER?

As the Cost of Insurance for A-Plus Health is
deducted depending on your attained age, it will
increase as your age increases.
Is this mean that every year the premium will be increased as per the table below...

Good morning,

Yes, the cost of insurance will follow as per the table. The cost of insurance is not guaranteed. This is the current rate, any changes to these table, say three years from now, you will be charged the new rates with 3 months notice. That's the standard industry practice, same with other insurers also.

hi afif, in terms of "loss of license" insurance, i won't be able to shed more comments on that since i have never come across plans that cover that. for your friend's coverage, it's very depending on when he bought it, how many years the plan covers him for, is it a term or ilp, occupation, smoker/non smoker, etc. Can only share more if he is willing to tell you all the details and show you the plan. if you are really keen on how much plan you wanna get, just let me know. i can plan something for you but you are not obligated to buy/apply anything.
hi fariz, indeed Cost of Insurance (COI) will increase as one ages. COI is not equivalent to premium ya. when your payable premium + cash value is not able to cover the COI of the plan, then only insurance company will increase your premium.

I have yet to heard of such term.

To make it simple for you, insurance nowadays are sold as term insurance or as investment linked policies which insurance company will invest part of your insurance premium to cover future cost of insurance.

Of course you can still opt for term insurance if you do not want to partake in any investment but you will be subject to pay an increasing annual premium as you grow older.

Also, insurance company will put more restriction for term insurance as compared to investment link policies for financial and health checks.
aviation company has their own specific insurance which covers for higher risk faced by pilots.

However, you can still get your personal coverage with the insurance company directly which is not subject to whatever you've mentioned on lost of license.
The cost of insurance will increase overtime as per the schedule written as you grow older.

I recently made a claim for a MRI scan on my spine but due to policy is less than 2 years I have to pay first. Fair enough, so I pay and the claim is approved this month. From admission to discharge to submitting claim, there's no need for insurance agent to be involved due to most paper work is done by the hospital, doctor or the customer service for that insurance co.

Because of this claim, I found out HLA claim procedure is slow and ineffective. They ask for MAR but didn't call, email or sms to notify me. I have to called then only find out they need the MAR. They even told me they send the form by normal post which till today I still haven't received it yet. Luckily the customer service in HLA give a copy to me when i submitted the claim.

So their request for Medical Attendance Report (MAR) letter finally arrived..

AFTER I've already submitted the MAR (find out by calling their claim dept.) and the claim has already been disbursed back to me in March.

I don't understand why insurance co. sent out letter by normal mail.

So their request for Medical Attendance Report (MAR) letter finally arrived..

AFTER I've already submitted the MAR (find out by calling their claim dept.) and the claim has already been disbursed back to me in March.

I don't understand why insurance co. sent out letter by normal mail.

The general consensus is that each insurance company is more or less the same.

Make sure that when signing up for a new plan, you understand the length/sum of coverage, the sustainability of the policy and you are not over committing yourself financially in insurance. 10% of income on insurance is usually a good starting point.

Yeah the agent did explain to me & to my surprised the new policy sustain age is 80 years old compared to my older AIA policy which was only up to 70 years old. Although I admit the AIA do have higher medical card limit which is 1.5m compared to GE but 990k is still pretty high. There are some benefits to AIA such as that RM300 medical checkup yearly provided you didnt make any claims from your medical card...

Good morning infernoaswen
If you are referring to medical card, you can't possibly get a apple to apple comparison, reason being what Card A offers will vary with Card B either in terms of types of benefits or amount for each benefit. Example, post hospitalisation treatment cost for 90 days (GE) and 150 days (AIA); this would affect the financial well-being of the patient should you require long term care.

You could share what benefits that in your opinion made you change your mind.

Hi Cyclopes, GE post-hospitalisation treatment it depends on whether Smart Medic Enhancer is attached or not. So yea if this rider is attached, then yea the post-hospitalisation is extended to 180 days.

Yeah the agent did explain to me & to my surprised the new policy sustain age is 80 years old compared to my older AIA policy which was only up to 70 years old. Although I admit the AIA do have higher medical card limit which is 1.5m compared to GE but 990k is still pretty high. There are some benefits to AIA such as that RM300 medical checkup yearly provided you didnt make any claims from your medical card...

Hi every sifu,

Want to ask how to surrender / terminate insurance during this MCO time, almost all the branches are closed during MCO. Having financial problem need terminate it. FYI, it is Prudential investment link policy.

I guess it is require to give back the physical policy back. And also fill some surrender form (with witness signature, how to get this if branch no open??)

I also enroll auto debit to my credit card on this policy. Worry processing till will get dragged till next month payment. Then one more month contribution $$ gone. Thinking to freeze my card to avoid auto debit, but if later due date reached, will Prudential auto deduct it from my account available investment unit left?

Any sifu can give advice?
Thank you thank you.

Hi every sifu,

Want to ask how to surrender / terminate insurance during this MCO time, almost all the branches are closed during MCO. Having financial problem need terminate it. FYI, it is Prudential investment link policy.

I guess it is require to give back the physical policy back. And also fill some surrender form (with witness signature, how to get this if branch no open??)

I also enroll auto debit to my credit card on this policy. Worry processing till will get dragged till next month payment. Then one more month contribution $$ gone. Thinking to freeze my card to avoid auto debit, but if later due date reached, will Prudential auto deduct it from my account available investment unit left?

Any sifu can give advice?
Thank you thank you.