Haha. They cant. This is ILP, so no such thing.

But for those under traditional plan, yes they can charge interest. This is stated in the contract. Mine is clearly stated so all fair and square.

Original limit yes. But did you keep all the letters prudential sent to you? After few times of repricing, sometimes they increase your annual limit and lifetime limit compared to day 1 when you bought the policy. Give you some sweet, so you happy sikit.

I wont say rename the product to wealth care. More like coming up with new iphone 12. No more iphone 11.

Yes. There is a possibility that this 10 years premium payment may not be sufficient until age 70 due to poor investment return, etc. Given that it does not provide medical coverage, the chances of fluctuations is theorectically lower. But aia do not guarantee that you only need to pay this amount and no top up needed later. But they should have some assumption that if you pay x amount, chances of paying more should be lower. Someone gotta do the calculation for the agents to approach customer la.

That's the beauty of buying ILP.

Just curious, would you question why apple increase their flagship phone price? Just an example dont take me the wrong way.

Actually, annual report will show financial status of the insurance companies. I am sure you can see claims paid. You may ask the questions that you intend to ask but the fact remains that medical claims have increased, hence the price increase

Medical insurance cost increase is as expected. So expect this every few years.

I have highlighted many times. If you want lower frequency of price increase, going for coinsurance/deductible may help.

This post has been edited by adele123: Nov 6 2020, 10:25 PM

I would suggest add-on where possible but this option depends on the current plan that you are holding on. I dont work for prudential but the analogy is almost like you are holding on to iphone 7 and apple still manufacturing spare parts for iphone 7.

Of course buying spare part is cheaper than buying new phone.

Recently prudential launched a series of critical illness plan covering early and advanced stage CI, something multi crisiscare. So it is usually more comprehensive than those standalone ci you can get. Online ci not as comprehensive la. But need to attach to an investment-linked plan.

So hopefully you have that option to add. Lowers the overall cost to you i hope.

Depending on the situation, there are many different outcome and it depends on which insurance bought, life/medical.

1) the person with heart problem may pay more money (loading) than normal healthy people
2) may exclude all heart conditions from all coverage (life/medical insurance)
3) may decline the insurance entirely (means cant buy)

You forgot the takaful total health is 500

2. accidental benefit confirm dont pay. death benefit still pay. (correction ya, death is death, murder case also pay). Dont get confused over here. the only incidence don't pay is suicide during 1st year (assuming no fraud, fraud is a separate issue la)

I shared this in FD thread. I think i calculated a 2.3% IRR on excel. I would say slightly lower than the promo FD available in banks. Considering the 3 year lock in period, not for everyone but not a bad sharing.

Can compare with general companies. Eg lonpac, etc.

Not too bad also.

Expect 2 to 3 years if your plan dont have coinsurance/deductible.

it does not matter. if someone you know didnt increase their premium this year, they probably increased it last year or will increase next year.

dont need CEO, even Agent A will know from Agent B and from Agent C.

Myself holding HLA, siblings holding AIA, Prudential, also know i kena last year, sibling kena this year. same same la.

Dont need to worry. BNM looking after us. FWD takaful was formerly hsbc amanah takaful.

Of course, whether the price is right or the product is interesting, that's up to you as consumer to choose.

There's an easier way to think.

The higher price, is the price you buy, the lower price is the price you sell. (this makes the most sense from company point of view)

Btw, better ask agent and confirm with GE.

Last i was told, BNM macam dont allow this bid/offer spread thing but i could be wrong but feels weird and "ancient" looking at this.

1) i dont want to stay in government hospital if i'm sick. no aircond, no single room and queue and wait very long
2) you should buy now because as you grow older, you discover more illness, may get rejected by insurance
3) you should buy now because as your family member grow older and they are sick, they will become medical history that can cause you to get loading or get excluded for certain illnesses by the insurance company (personal experience)


This post has been edited by adele123: Dec 12 2020, 12:32 AM

I would highly recommend not switching plans where possible. When you bought your earlier plan with pru, you would have incurred some cost.

If you cancel the policy in pru and buy again in aia you will incur the same cost. If you feel that you need an upgrade on your medical with pru, you can do so and discuss with pru.

Unless you really have bad experience with pru and want to cut ties, etc. Then that's a different issue.

Getting whichever plan from aia will unlikely have any impact on your migration plans. Insurance money still pay if you are overseas for death or ci coverage.

Medical coverage is only for travelling less than 90 days overseas. So if you truly intend to migrate and not come home, i believe only the medical portion need to cancel. The other coverage can discuss with agent pros and cons of maintaining and limitations, etc. But should have little limitations i guess. Seek proper advice.

Most insurance companies outsourced their claims processing to a vendor to issue the guarantee letter (GL) for the customer to admit hospital without paying deposit AND also to process any medical claims.

these vendors are unlikely to be many in the market. for axa, it uses mediexpress from what i managed to google AXA FAQ

they will have a list of panel hospitals and usually it should cover your nearest hospital (you can check the listing on their website). i do make a point to check and know which hospital is covered and nearest to my residence la. In terms of acceptance, you can find the answer already.

In terms of ease of claims, as i dont have the info and i believe none of the big 4 uses mediexpress for claim management but i could be wrong. last i checked, aia in-house process claims. the other 3, maybe one or 2 of them may in-house manage or to a same/different vendor. my personal coverage from my spouse's benefit was covered under mediexpress, but only use for outpatient, so can't share personal experience. they have an app for easy tracking though. for him and for myself. that's the extent of my user experience.

if you think from the point of, would they take your money runaway, then definitely wont la. that's why we have BNM.

But in terms of whether their servicing post purchase is responsive or fast or not, this may require some actual experience for those who bought. but also want to point out that other companies also may have something similar. so you are not stuck with only one option.

The covid situation was abit different. The premium deferment was quite special la.

But for normal circumstances, premium holiday is a feature of IL plans la. So you can just skip. This is usually the case la.

But i do know of 2 companies with funny premium holiday rule. Where you really cant, during the earlier years.

yes. else how agents get new commission?

but that aside, there insurance companies do not encourage such behaviour since initial cost is very high for customers and also insurance companies. you dont feel the cost directly but you will feel it in the low cash value in the early years (this is the con)

but recent years, there's this herd mentality of switching medical plan to annual limit of "berjuta-juta".

having say that, i'm in a personal situation whereby we foresee RM50k annual limit just about enough for the cancer treatment. or 2 angioplasty can cost easily 50k. so, older medical plan with 50k annual limit really tak cukup ooo.

how do you make decision? so, yes, from time to time, it will be wise to review your existing insurance plan and fine tune it accordingly to match medical expenses nowadays. of course, the average joe wont know how much cancer treatment cost or whether it is sufficient for general sickness, so that's why the agent need to advice lo. but the problem is, agent's advice is also driven by the incentive of you purchasing new plan with them and giving them new comm, so that is the reason why good agents are so important.

realistically having RM1mil annual limit is really unnecessary la even if we factor in inflation for the next 10 years.

This post has been edited by adele123: Dec 31 2020, 02:17 PM

Can you share the website to this medisavers? The one i can find is underwritten by archipelago insurance based in labuan.

As for AXA eMedic, my ex colleague bought for one year. He bought liao, he quite enjoy the process of buying. Lol. As for claims process, obviously didnt kena lo.

I explained briefly in post #2234 about the axa thing.

One thing to look out for is AXA is legit in the business. However, they are selling standalone medical plan. Your plan with pru, likely comes with ci coverage, life coverage, or even lady illness coverage (your wife).

So before you purchase, make sure you are not comparing apple and nangka lo. Size tak sama ooo. And for prudential, you already bought for 5 years. 90% of the commission already paid. So, you dont really save on commission per se.

If indeed you are facing financial issue in paying, you can further understand on what are the options you have with pru. if you read few post above yours, mr coolguy is also finding ways to maintain and also save some penny lo. understanding how your insurance works really helps la.

This post has been edited by adele123: Jan 2 2021, 09:57 PM

I dunno what is this mxm company. I think mxm is like the broker.

Lonpac itself is a reputable general insurer and experienced. More experienced in fire insurance lo, because of public bank as owners ma.

I actually wanted to purchase from lonpac for my mother but got declined. I left my number on their website and they called me after that.

You can go to lonpac website itself and look at the other options available. And can read through the PDS.

There's nothing wrong with MLM. It's a legit model. What usually is scary is that the Multi-Level is being sold as infinity level. In proper insurance company structure, the level is capped and monitor and total payout is also capped for each policy sold.

My knowledge on this segment of the insurance industry is rather limited. However, suspect MXM may have very well managed to captured on the only section that can be unregulated or gray by BNM hence Lonpac and MPI continue to work with them legally by using the term referee very loosely. and they seem to only work with general insurers.

Purely my educated guess based on the fact that Lonpac and MPI did partner legally with them but do encourage you to bring a case up.

This post has been edited by adele123: Jan 18 2021, 10:00 AM