Is this too high for insurance under 30?

Premium: RM300/month

Coverage amount: RM 100,000
A-Lifelink 2 (Death Benefit): RM 100,000
A-PlusDisabilityCare (TPD): RM 100,000
A-PlusCriticalCare: RM 100,000
Medical Limit: RM 1,500,000 (no lifetime limit)
Deductible: RM 300
R&B: RM 200
Hospital Income: RM 100/day

Should I aim lower?

Currently, my premium is taking up 6% of my overall income. Am targeting just under 5% for protection as I dont think there's high risk. My cash liquidity and savings is generally enough to cover possible issues.

The coverage seems okay, compared to quotes I have at GE. But maybe you guys have better understanding perhaps? Hence why I'm asking here.

It seems that the consensus is that RM200 is good enough for decent coverage.

Plus Im also insured by my employer, on top of SOSCO and my family civil servant family program as my parents are in Gov

Alliance agent told me that their policy is one price forever once you sign on it. is it true?

while AIA is term policy so it increase a lot every 3-5yrs, true?

yes it is allianz power link.... im asking agent to show me

Any cheapest medical insurance (online or agent) recommend for age around 54 and 60? Coverage of medical can below than 100k

Hi sifus, would really appreciate some advice here.

I purchase an investment-linked medical insurance plan from GE for RM210/month at the beginning of this year before I turned 24yo. AL ~1.3mil, no lifetime limit, sum assured 50k until age 90. Below is the breakdown for reference:

SMARTPROTECT ESSENTIAL 3
IL CRITICAL ILLNESS BENEFIT RIDER
IL PREMIUM WAIVER EXTRA RIDER
SMARTMEDIC XTRA
SMART EXTENDER 120K (R&B200)

I went for a lower sum assured as I currently have no dependents and 50k is enough for my family to pay off my student loans. My priority was to get a good medical plan while I'm young and don't think about it IMO. However, just recently my insurance agent has been promoting a CI rider that is allegedly the only CI plan in the market that provides multiple pay-outs up to 8 times, including early, intermediate and advanced stages. I believe it's called Smart Multi Critical Care?

Okay so the thing is, I'm interested in this plan however it will be another RM150/month for 150k sum assured. To me it's absurd to be paying a total of RM360/month for my age. I asked my agent if it's possible to drop the CI benefit rider and replace this instead however they told since I locked this 50k "earlier", it's better to buy as a separate plan instead of withdrawing my rider, i.e. if I want my sum assured to be 200k, they recommend topping up 150k and keep the old rider. They also said if I were to make any changes to my current plan, the premium price might increase due to my age (I've turned 24yo) and the waiting time will be refreshed. I honestly doubt that the premiums will increase significantly because to me, it seems redundant to pay for a second ILP plan, wouldn't I be paying more insurance charges as well?

Also, I kinda regretted buying this insurance plan because few months into my job, I found out that my company's group insurance provides an opt-in deductible medical plan on top of our current existing medical plan, and it provides coverage even after I left the company with deductible waived after I reach retirement age. The employee benefits also included Life term insurance and it's higher than what I have for my personal plan lol. Only downside is that the max. renewal age for the group medical plan is 79yo. If I knew about this earlier I would have not purchased my personal insurance so early and would only get one medical/life term insurance after I reached my 30s as a backup.

I raised these concerns to my agent but y'know, they told me to keep my personal insurance because it's a waste to surrender or change bla bla bla, and it's good to buy early because I'm still young with no pre-existing illness

1) Should I keep my current personal plan and reduce the sum assured for the Smart Multi Critical Care for lower premiums? If so, should I insist on removing the CI benefit rider? Is Smart Multi Critical Care really necessary for my age at all?
2) Should I consider purchasing the additional group insurance scheme and lower my current plan's AL to reduce premiums? I know standalone medical plans will increase more as compared to ILPs but will it be the same for group insurance schemes?
3) Would it be better for me to opt-in for the group insurance scheme, surrender my current plan and only get one when I'm in my 30s? Yes the premiums will be higher by then but at that age, I will be more financially well to afford it right? I would have also saved more over the years by paying lesser premiums, right...?

Fyi I'm a 24f, single, non-smoker. Sorry for the long essay but I feel really lost right now 

Came across this, was surprised cause most of the content I saw / heard from insurance agent suggested otherwise (which is understandable as they earn a living out of it).
I wonder if taking insurance early (and never changed company since) will increase the likelihood of the company accepting the application / upgrading our plan when we ages? (assuming ceteris paribus)

Hi all, I've had Great Protectlink ILP for many years, with Lion Strategic Fund. I've now realised that the performance has been terribly bad and I've actually lost money after so long (double digit percentagewise). If I had put the money even in a savings account, I would've actually made money. Yes, that bad.

Could I get some advice on what's the best thing to do right now? Switch to a different fund (which fund)?

Or reduce premium and put it in EPF or something else instead?

My objective is retirement funds. Thanks for your help.

I received a notification from PruBSN today that my policy will be repriced from 2021 onwards with a whopping 25% increase. Is this across the board or only me?

25% increase is insane though. I've had two increases in the last 7 years. I shudder to think how much I'd have to fork out in 20 years just to maintain the same benefits.

hi,
i am a uni student that still have few months till graduate and i am seeking to get started some insurance coverage.

can i have some recommendation thats below RM 100 which i can upgrade it later in the future?

not sure if this has been asked before but here goes. I'm currently reviewing my Great Eastern ILP plan and I noticed that my funds are 100% invested in Lion Strategic Fund. I am just wondering if that really is the most suitable fund for me? A bit about me, I'm 35 yrs old and I don't mind going high risk (heavy on equities).

Looking at the fund description, this Lion Strategic Fund floats between Fixed Income and Equity with the goal of reducing downside risk. Seems a bit 'safe'. I think I'm more a 'Lion Enhanced Equity Fund' kind of guy. Besides having huge weight in equities, I also like it that they diversify out of Malaysia (i.e. 50% M'sia, 25% HK, 25% SG).

I usually would do my own analysis but public information on these funds are quite hard to obtain. Best i could do is compare the bloomberg chart but that just goes as far 5 years only. Also, Bloomberg just tracks the unit price and doesn't account for the fund distributions.

If you guys also know where I can access the latest fund factsheet for all the Great Eastern Lion funds, that would be greatly appreciated 

If I had it my way, I would just go all into Lion US-i Fund (just track the S&P 500) but the GE e-connect website won't allow me the option to do so. I guess they only allow transfer between local funds.

Edit: I do understand that insurance plans should not used as a vehicle to grow wealth. That said, I guess there is no harm in trying to maximize returns since there is already an investment element in it?

Hi all sifus,

Anyone experienced their medical card premium increased?

Am using Great Eastern, today I received an email that my premium will be increased.

However, I have 2 options: either to Accept or Reject the increment.

My question is, if I choose to reject the increment, will it affect my coverage in the future?

Thanks!

#hidupsusahsekarang

if do later, the increment could be much higher?

roughly how much?

There isn't.

If I change my premium payment frequency from annually to monthly, is there any significant impact or is there even affecting my policy?

From what I had been told for, the premium will be slightly more expensive.

So I change the payment term frequency as I like without any penalty?

I'm confused:

Just received letter saying next year medical card premium will be increased..
Agent says better to cancel current and get new one because can get better coverage.

Is that really true or agent just wanted extra commission from new policy?

And btw i thought medical card with ILP premium will not increased because already took into calculations and also income from generated investment is enough?

If ILP also will increase premium why not i just take standalone medical card?