okay i need more info to recommend. your current age and also the amount of coverage you need.

early 30s and for life insurance i see that most are at MYR500k which is quite standard? for medical i have company medical card as well so it would be an add on.

ok then let me just assume you are 30 this year. I used online life insurance Fi Life (underwritten by Tokio Marine) to do this comparison with a simple ILP life insurance.

1. Fi Life Yearly Renewable Term (YRT) is the one that pays lesser now and premium will increase according to age (refer future premium rate).
2. Fi Life Level Term (LT) whereby premium is fixed for the following 20 years.
3. ILP whereby premium is non-guaranteed (yes for all ILP premium is non-guaranteed due to non-guaranteed fund performance).




Based on 500k life insurance for 20 years assuming you buy at the age of 30. The total cost for
1. Fi Life Yearly Renewable Term (YRT): RM34,316
2. Fi Life Level Term (LT): RM31,188
3. ILP: RM31,200 (have an estimation of cash value of RM25k at the end of 20th year)

The above cost also assumed if you don't do any investment. So i factored if you have RM35k now and you are investing in a 6% p.a investment vehicle and at the same time you are using the amount here to pay for the yearly premium. End of the 20th year, you will have more if you bought an ILP.

1. Fi Life Yearly Renewable Term (YRT)


2. Fi Life Level Term (LT)


3. ILP


do let me know if there are other online life insurance products that you are looking at so i can analyze for you

This post has been edited by ckdenion: May 16 2020, 04:38 PM

Hi, i never take any insurance before.

Been quote this from AIA(life link). Is it ok?

Pampasan kematian - 500k
Pampsan TPD - 500k
Pampasan penyakit kritikal accelerated 250k
Age limit 70
Cash value at 70 : 16k
Waiver and save : inclusive

Monthly : 300

This post has been edited by ajin999: May 16 2020, 06:47 PM

Halo friend,

seems ok to me. can't comment much without knowing your age/ occupations.
for me I'll check more on fund history. waiver type is it inclusive TPD & CI waiver.

Btw, as you mentioned "never take any insurance before" .. I'll strongly suggest you get medical plan coverage 1st if no extra budget

Hallo sir. Currently only ride on company medical benefit.
age 28 and executive.

Could you elaborate on the fund history? do i need to select the fund or what?

Sorry noobies here

Tq

Suggest you find out the different having own medical plan compare fully rely on company medical benefit.

My opinion, always get own medical coverage in 1st place. Next will be life & critical illness protection.

If the life plan quoted for you is investment link plan, you may ask the agent explain for you. What fund selected, and why suggest it.
Another way is google the fund name in the quotation.

Fund performance will affect the cash value. Which is the one age 70 estimating 16K.
If fund not perform well .. your policy may not sustain till age 70. (depending product type)

Hi , I would like to seek answer what my agent said is true or not.About one week ago, my agent contacted me and said the insurance company doing offer by let me change the current policy from prulife ready to pruwithyou with medical no waiting period.As my existing policy was only 1 million for life time, then I agreed to shift to new policy.
Currently there are 2 policy , one old and one new, the old policy premium revised to lower.
Then I asked my agent , do I still need to pay for old policy, she said no need but I afforable , I can pay it and the cash value will be more.
I felt weird why to keep the old policy as she mentioned my medical benefit transfer to new .
She answered me it is better to keep and the surrender value will just reduce a bit when I surrender 2 years later.
Can I have advise if I dont pay the old policy premium , will it really be like what my agent said, the surrender value will just reduce a little as only cost of insurance charges.
I attached screenshot but as she replied in Chinese so hope got people can help.

Hey guys,

I got laid off a while back and my extended medical coverage benefit will soon expires. Looking at the options available online, it seems like most medical card only covers hospital visits?

Are there takaful/insurance plan that covers GP/private clinic visit? Not really concerned about hospital visit tbh since worse case scenario still got govt hospital, but visiting govt clinic for the occasional flu/ailments is too much of a hassle.

tldr: need coverage for GP/clinic visits

This post has been edited by rebornyama: May 17 2020, 07:18 AM

Halo friend, from what i see your agent really taking care of you.

1st, for me 1 Million lifetime quite a risk for young people. Technology and medical fees keep on raising. Certain treatment is long terms process. Easily use up large amount from lifetime limit.

2nd, telling to keep the exiting and explain is a must. May be from phone whatsapp text can't elaborate clearly. Suggest you give a call and try meet your agent in future. I'm sure he/she can give further explaination.

What I can try .. give example. Your old medical plan inforce long time ago. new one inforce by MAY2020.
If one year later you got serious stomach issue and consult doctor, if doctor diagnose saying that your illness started at least 1 year ago .. in this case most likely your new medical plan can't cover you. Then your old medical will save you.

So .. ask your agent explain further

Usually we will advise user to keep exiting old medical card at least 6 months to 1 year depending their condition. Advise to keep more than 1 year if affordable and got significant illness record among family members. All this by own risk, agent can only explain and advise.

Good day friend,

Believe your exiting is standalone medical plan right?

It seems like you have different view and objective taking medical plan is ok no right or wrong.

Just sharing, normally reason people need medical card to cover unexpected high medical cost need out of sudden. Also to enjoy free medical coverage if serious issue occur and waiver benefit opt in.
Illness / Injured case can handle by clinic usually cost can be handle as well.

Even govt hospital not all cost free. Yes it look like free for small matter and senior citizen check up.
Try refer to GH website for ward charge
http://www.hkl.gov.my/index.php/advanced-s...ospital-charges

and medical cost reference compare by Ringgitplus 2 years ago
https://ringgitplus.com/en/blog/insurance/g...eally-cost.html

You can't use medical card in govt hospital, anyhow can still claim under paid and claim basis.

Any medical plan that cover clinic visit, have to look detail into the product policy terms. It won't be any visit any time can be claim.

For your need. looking for medical plan cover ONLY GP/CLINIC Visit .... May be general insurance / commercial group policy got

This post has been edited by tyenfei: May 17 2020, 09:17 AM

Hi Tyenfei,, thank for your explanation, I understood the importance of keeping existing medical policy, but I have doubt on no need to pay the premium , if dont pay the premium, really the policy will still active as what my agent said, only deduct cost of insurance?

This post has been edited by darkueki: May 17 2020, 09:41 AM

If your cash value is enough to cover your current COI then you’re good to go.

You can ask the agent to point out the terms and condition of deducting COI in your contract for your understanding as per your policy.

You will have a COI table in your policy, check if your current cash value is sufficient to cover your COI.

Best,
Jiansheng

Ever wonder why your agent ask you surrender after 2 years and not anytime before that? your agents have indirectly asked you to buy a new policy, pay MORE premium, PAY her COMMISSION AGAIN and now you end up with 2 policies. the reason she asked you to surrender the old one after 2 years is because she will get to enjoy commission on PruWith You (PWY). if you surrender within 1 year, she will get nothing.

There is always one warning by insurance companies whereby insurance is meant for long term and switching is costly because of high initial cost. Based on this statement you really have to study whether do you really need this PWY or not.

your existing lifetime limit of 1 million is comparatively low in the market, but still more than enough. My own policy 120k per year, 720k per life, i haven't upgraded it yet but i'm planning to upgrade soon. However, if you do want to upgrade, you can upgrade. there are usually 2 options, upgrade existing or buy new policy.

Upgrade existing is cheaper, buy new policy is usually more expensive. but i do have to admit, sometimes there's a limit to how much you can upgrade in your existing but my point is, this probably wasn't presented to you by your agent and you buta-buta sign up new policy and getting weird comments like, then the old one no need to pay can only surrender after 2 years. of course you can surrender anytime

Without knowing the details it will be hard to judge whether you need (choice of word is 'need' not should) paying for the old one but your agent has misled you by asking you buying a new one and simply asking you not to pay the old one. maybe she did the calculation but she was not transparent. your current policy is prulife or prulink one? how old is it?

short answer: GP and private clinic visits not covered. too high risk and too easy to abuse. I'm sorry for your laid off. Just try to stay healthy and dont get sick for normal flu.

WAH? AGENT TAKING OF YOU? Of course take care, NEW COMMISSION wo, sure take care one.

you deserve what i'm throwing at you. I know agent susah cari makan, saying things like this putting you in the same lousiness as you and her. protect yourself and show your professionalism, dont sit in the same dark side.

This post has been edited by adele123: May 17 2020, 10:25 AM

hi ajin, just by commenting on the plan, it looks ok. other than that, cant comment much.

hi darkueki, put it in another way, not to say its an offer. if you memang wanna get that new medical card PruMillion Med, then yea it is compulsory to get PruWith You. if you can afford to pay both, its okay too. in this case normally what i will do is, make the new plan to focus on medical, and the previous one an income protection plan.

hi rebornyama, for personal medical card there is no cover for GP/private clinic visit.

Hi Adele123, I not sure how to differentiate prulife or prulink, my type of assurance is prulife ready. I dont have much knowledge , I just simply thought is converting my existing plan to new plan, whereby my current premium change from rm190 monthly to rm220 monthly with medical claim limit upgrade to lifetime unlimited. I do plan to upgrade the medical from 1M lifetime to unlimited. Then when I check from this forum, then I sense something incorrect, so I seek for more advice from this forum to find out why I need keep both policy while she mentioned the current medical transfer to new policy.

Hi ckdenion, I did plan to get new medical card PruMillion, but I think the way my agent selling to me not that inpropertiate .
Thank you for the comment.

Halo adele123,

Not sure what experience you face with agents before.

Anyhow.. Yes i mean it in term of plan protection.
I have no right to comment on commission part like you said without more info.

it is agent's duty to explain the new plan. pros & cons. it is user right to choose upgrade or not

is it wrong for agent to intro new plan to client?
is it wrong when agent ask to get new plan?
All depending what policy user holding is it worth to keep or not.
We can't judge base on few paragraph of "facts" here

Sounds like choose between Sedan and MPV, is user call after sales person introduction.

Btw, I do agreed with you some may give advise base on self interest only. Example fight for new com then hard sales to user. Which I strongly against it.

Just don't mix up the concept ... is agents right to get commission when they do their job and responsible to it. This is how the whole system work.
Same with any other marketing sales out there.

Everyone doing something for earning. We pay something someone make profit.
Just make sure the right way.

yea darkueki, basically it's just how message is conveyed to you. the PruMillion Med is only attachable to PruWith You as far as i know. for case like this, how i will do it is make one plan that focus on life insurance for income protection planning and another one on medical card although both is ILP. OR upon getting that new policy, check is there any life insurance/critical illness payout amount for income protection that you wanna increase? if yes then top up the balance in the new policy together with the new medical plan.

Hi Ckdenion, thanks for your advice, yes there is life insurance /critical illness payout but only 35k each.
I would like to know can you quote me with below details:
Budget rm250
AnB: 28
Non smoker
Medical : annual at least 1m and lifetime unlimited
Occupation : class 2 even thought I think I class 1 but my agent said in system she can found is production site leader, my job is like planner ,work in supply chain management.

Thank you.



This post has been edited by darkueki: May 17 2020, 02:01 PM

Like others mentioned, first step to insurance is better to be a medical card/hospitalisation. i.e. coverage for room & board and annual limit/lifetime limit for hospitalisation bills.

On this AIA plan, the critical illness accelerated means that once you claim critical illness 250k, the life will be deducted 250k as well.

Cash value is the money you can get in the investment part (not guaranteed).

I do agree with Adele123 that it's better to upgrade existing policy first, however there might be a limit on how much you can upgrade the existing policy. The waiting period for specified illness (including cancer) is 60 days or 2 months. However, insurance companies still can initiate early claim investigation for policies inforce within 2 years depends on the case, hence your agent asked you only to surrender after 2 years.

I would advise you to terminate the old policy once your new policy is already inforce for 2 months instead of 2 years because early claim investigation is rather unlikely.

Group insurance can cover for clinical visits if the company signed up outpatient clinical rider. Even if visiting government clinic for flu/ailments, personal medical card won't be able to cover.

Personal medical card only covers for:

1) Accidents
2) Hospitalisation
3) Surgery

Class 1 and class 2 are treated with the same insurance charge (for Great Eastern). 1 million annual and lifetime limited can be easily done with your budget. Remember to add in waiver rider when your agent prepare the quotation for you.

This post has been edited by GE-DavidK: May 17 2020, 06:47 PM