Noted and thanks for the explanation Cherroy!

Can I ask which medical card did you personally get? We can talk in PM if you want to discuss it privately

Cherroy has clarified and I've understood thanks.

No fear on rejection of claims. Just want the best medical card in the market within the specified budget. Don't really want life insurance, critical payout and investment linked because it's unnecessary bloat to the premium I'll be paying. If need be I'll add on the critical coverage payout later on but right now more focused on the medical card per se.

I replied before cherroy but I guess the forum works in the way you read the latest post first before the previous post. But all is good.

Hi Zack,

Medical Card is a common product among all insurers. You may browse websites like ringgitplus.com or imoney.my to get more details.

AIA offering of standalone medical card is A-Life Med Regular, and pairing with A-Plus Health Booster you get a higher annual limit of RM 1.6m and well within your budget.

definitely investing your own in other platforms will give you more because of the fees that is charged in an insurance policy. i will say both are 2 different thing. one is for risk management and one is for wealth accumulation. unless there is very minimal insurance element then its more to savings but there are many methods to save. so if you are buying insurance mainly for insurance purpose (even ILP) then you are good to go. main purpose of ILP is also not for growing your funds, it is more for risk management.

i do agree with you that we wouldn't know when and how likely we will get the payout from insurance. i always tell my friends that if can, i dont wish to get the payout even though i bought those plans.

hi zack. 3k/year at your age can get the highest R&B medical plan from most insurance companies. definitely no budget issue there.

medical cards cover hospitalization / surgical cases. so yea if you are admitted/need to undergo surgery due to critical illness, then yes the medical bill will be covered (exclude those non-claimable items like registration fees, medical report, supplements, items not related to medical/surgical supplies, etc.).

if budget is not an issue, then yes you can buy multiple medical cards to supplement each other. just that it will be costly to do so. just pick one out of the few that you'd compared, then just purchase that one and save also for emergency (in case there is also non-claimable items that you need to pay for). this will be more advisable.

Hi all,

I am having 2 AIA insurance.
1. A-Life CriticalCare (FullPay)
cover ALC2 A-LIFE CRITICALCARE(FULL) and DCF6 A-PLUS DISABILITYCARE
Premium: RM2,795

2. ANNIVERSARY LIFE PLAN
Cover: ALP2PB ANNIVERSARY LIFE PLAN and WP-N 3N EAPWP/BASIC
Both coverage amount is RM20k for each
Premium: RM398

Both plans are stated as Life insurance in the MyAIA online account. May I know is this correct? Should the first one is a medical insurance?

The first plan premium is quiet heavy to me. Having it for about 5 year, if I want to reduce my premium, besides the coverage amount will drop, what are the things will be affected?

Appreciate your advise. Thank you.

hi rocketm, the first one is life insurance that covers critical illness (not medical insurance), it is a lump sum payout when diagnosed with critical illness. If there is a medical card in your plan, you should see its details when you check your MyAIA account.

A-Life CriticalCare brochure here for your reference.

Thank you ckdenion for your reply.

The first plan (life insurance with critical illness =) does not have medical card provided.

For the second plan, is it a pure life insurance?

Hi, both plans are not medical cards.

1st plan is on CI

2nd plan is on Life/Disability.

As for reducing of the premium. You may need to contact AIA if reducing the premium would reduce on the coverage or will it maintain with lower cash value.

As the plans are pretty old already.

yes, for AIA Anniversary Life plan is those that commonly people say as life insurance + savings.

Thank you for both of your reply.

Repost

The policy will accrue dividend at end of each policy year, any reduction in premium or sum assured would likely affect the dividend.

Feel free to drop a PM if you have any further questions.

Hi all,

I would like to ask what is insurance charge? I only know it is only apply for medical and life insurance. It is a cost to the policyholder.

Can anyone give a simple for traditional medical/life insurance how to derive the figure for sum assured amount, cash value and death benefit since it has insurance charge exist.

Insurance charges is the cost of insurance incurred by the policy, also known as profit for the insurance company. Of course at your cost in exchange for the insurance company services.

All these calculations are done backend by the insurance company. They won't reveal to you the exact figure unless you work in there.

Insurance premium used to be calculated manually via a rate card but it's all computerised now so insurance agent won't have to spend all their time to calculate on a policy before they sell it.

[/QUOTE]
hi veloos, i assumed that your house loan is covered by a separate insurance and if that's so, then we can exclude that. for your parents medical, how long do you need to support this?[QUOTE]

hi ckdenion, parents medical will be around 12-16months timline as of now.

This post has been edited by veloos: May 30 2020, 12:31 PM

Question for those with AIA,

For ILP the minimum monthly premium is RM150, however the selected option might be below RM150, lets say RM143. What does actually happen to the extra RM7 I would have to pay to meet the minimum premium?

Goes to your investment account, and invested in the Funds you have selected.

Nope, RM150 is the minimum amount to enter a policy with AIA.

For the extra amount, part of it goes to agent commission, investment, and fund management fees.

So would it be better just to add on some coverage to meet the RM150, rather than paying extra for investment?

My AIA ILP plan was originally like this:

Health 6000
R&B Plan 200 (Deductible: 300)

RM143 Monthly Premium, would have to pay extra RM7 to meet monthly minimum.

Then, I added an extra coverage for HospitalIncome:

Health 6000
R&B Plan 200 (Deductible: 300)
HospitalIncome 100

RM153 Monthly Premium

With no benefit of other information, I will advice to take RM153. I assume your Life Planner has done the necessary in giving adequate and proper advice.