Hi everyone,

This is my first time postion on this session of the forum.
I am 29 year old, married with a kid.

i am saving around 4k/monthly after deducting all my monthly expenses including current Life Insurance, PA, and Medical+Life.

Below are the premium I'm paying and coverage I'm getting.

AIA -Anniversary P.A --> Yearly Premium : RM 1060 -> Coverage : RM 1mil Death/Dismemberment

AIA -Medical+Life --> Monthly Premium : RM 330 --> Annual Limit RM 1mil, No Lifetime Limit, Death Benefit Rm100k+Fund value & Bonus

Allianz PremierLink --> Monthly Premium : RM 1.5k -->Sum Assured RM 2.1mil

Recently my AIA agent came to me with A-life Wealth Care plan to increase my savings and at the same time provide protection for my family upon my death.
She said with a monthly premium of RM 700, the sum assured will be around RM 1mil.

I wanted to know is there any other insurance company with similar plan for me to compare before I make a decision.

Hi,

Anyone, to help with MLTA?

Thanks

Hi, Jiansheng Teh

I'd like to apply MLTA insurance to cover my house loan. I looking for some advice.

1. is the term MLTA useful?
2. long term MLTA suggested? (equal to House loan term)
3. what are the key areas I should focus in MLTA?
4. Are the returns are guaranteed at least 90% of proposed?

Thanks for the assistance

Hi there,

I am looking for Medical insurance for my dad.

Was quoted approx. RM8.3k with Life/TPD from Great Eastern. 990k annual limit with no lifetime limit. We didnt get to execute that because of MCO and his birthday just passed on May 2. Upon renewing the quote after his birthday(my dad is 65 this year) it has now risen to approx. RM13k annually which is a huge jump.

Life insurance/TPD is optional for me, medical is the priority. GE agent has quote me again approx. RM6k annually for medical only with the same 990k annual limit, no lifetime limit.

However seems that GE has the most negative claim experience so I am looking for options. Please PM!

Thanks

Just doing some simple search on the forums:

https://forum.lowyat.net/index.php?showtopi...l=great+eastern

https://forum.lowyat.net/index.php?showtopi...l=great+eastern

https://forum.lowyat.net/topic/3123872/+100
I dont mean to undermine any GE agents just basing my opinion on what i've read. GE name seems to be coming up more than most
I am with Allianz now but my agent recently quit. So any Allianz agents out there do drop a PM please

Hi all, I am planning to get a life insurance with savings plan to maximise my tax relief. My friend recommended Great Eastern Flexi Plus. Do you guyz think it’s a good plan? Is there a better alternative? Thank you

Hi All,

I had medical coverage from GE as below :

Life + CI
SM200 (medical)
Premium waiver
Smart Extender 120K

However due to family history, I may prone to be high risk on canceer. Hence, would like to get some advice :

1) Is my current coverage sufficient?
2) If no, is it advisable to top up (either additional riders or increase coverage limtis) or purchase from another insurance?

Other opinion or suggestion are welcome.
Thanks

Hi all,

Need a recommendation on a life insurance policy and seems like this tered might be a good place to start.

Details about myself

- age: 24 y/o
- occupation: bank executive. So pretty much just office work
- non-smoker
- single ( unfortunately ) and only one debt commitment for a car. But the monthly installments are just below 15% of my gross

Am looking for a Non-participating term-life policy. The kind that can be bought online at an affordable price. I've taken a look at a few companies and noticed eTiQa is the cheapest at under RM 50 a month. But I would like to know if anyone here have better options to suggest.

I'm a bit unsure as to how much coverage I need, but I assume RM 500k for 20 years coverage since I may want to pursue larger financial goals like buying a house maybe 10 years down the road

Would appreciate any thoughts or suggestions

Side note: The reason why I really highlighed the word "non-participating" is because despite this is what I firmly want, the insurance agents that I spoke with (just the ones i asked, no further) cannot seem to understand. A participating policy or IL-policy is always suggested with high premiums that I don't want. For me, cost is a major consideration when buying term insurance.

Hi ckdenion, current life and CI are 300k, as for medical had additional rider smart extender which extend the annual limit to 1.2 mil with deductible of 120k which is cover using SM200 (120k annual limit with lifetime limit 1.2 mils) . Major burden will be my parents medical around 2-3k per month (installments)  n house loan of 1.5k.

Currently 36 n work as engineer.tq
Hi lifebalance, in ur opinion what will be the optimum amount for critical illness? FYI, I'm single.tq

Hi, can I ask one thing in regards to your industry.

Many times I have to sit down and listen to an agent talk for 1-2 hours about the product offering. I'm aware most features are standard. When I ask about their competitors and how their plan differs and what are the advantages / selling strengths, they are unable to give any meaningful points. Most of it boils down to "Let me see the policy and I'll advise you."

Is there a lot of obfuscation in regards to competing policies or is it just smoke and mirrors ? I understand a sale is hard to make in this time and age but I really despise having to sit down for an hour or two to make small talk for this sort of thing.

Yeah. Mainly because I expect the investment portion that I'm doing atm to outperform most UT funds in the long run.

In eTiQA's plan, coverage is 500k for 20 years, but its yearly renewable. But the projections seem to be alright as in the last policy year, they expect a premium of around 2.7k per year, which is reasonable as current IL policies I'm getting require me to pay 2.4k per year for the next 20 or 30 years.

In terms of doing the cost comparing, I kinda did one myself using an ILP quotation from a GE agent. Based on it, the idea was if my own portfolio can grow at least 6% p.a., then the term insurance is better. And I expect the average growth of my portfolio is be around 8 - 10% p.a in the long run. However, the problem is I couldn't value the protection element since I wouldn't know when and how likely I will get the payout. In terms of payout, ILP is def better, but I'm not sure if it is worth the price only.

Looking for a pure no-frills standalone medical card.

I’m a 30 year old bank exec (group covered), single and a casual smoker. No pre existing medical conditions.

Budget is 3k/year and hoping to get the widest coverage with highest single bed R&B. No investment-linked plan pls. I do my own stock picking. Hope any sifus here can help me out.

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.

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?

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

I had discussions with my life planner and using the iPad I can see the monthly premium generated depending on whatever options I choose. So when I tried to go for something not expensive I ended up with RM143 monthly premium (Life 6000, R&B 200 (300 Deductible)). My concern was more towards the medical card only rather than the life hence I put life at almost absolute minimal, while I judge R&B 200 to be adequate enough for me. Since I was short of RM7 to meet the RM150 minimum monthly premium, I thought that it would be a waste to not add some form of rider to make the premium closer to RM150. I was recommended by my life planner to take the waiver extra but I decided for HospIncome 100 since I felt it would be more worth it (if I recall these two options have the same premium). Would you guys have recommended me something else?

Some Info:
Age before birthday: 23
Occupation: Consultant (Office Work)
Non-Smoker
Single

Its meant to be projected up to 80 years sustainability in the policy but of course that could easily change I suppose. My concern is if I just drop the HospIncome, would that RM7 be sort of wasted? But from what I gather from the feedback here, the extra RM7 does go to investment so it would increase sustainability. I guess I do not see any extra riders that would be of real use to me as compared to extra sustainability...

Question, we would expect the COI of standalone medical to be higher than ILP during the later years. But shouldn't the COI rise approximately the same for both (assuming both have R&B 200)? If we do not look at ILP with its investment returns offsetting the increase in premium, the COI for both standalone and ILP would be about the same no? Sorry I just want to understand the concept here.

May I know for any insurance type, if I have 2 same insurance type with different sum assured, when I would like to claim it, the claim form would require to fill up any similar insurance you have both with the company and with other insurance company, will the claim amount proportionate if submit both insurance claim together or submit one another after the first claim is approved?
nope, it wont proportionate, example below:

May I know for different insurance type case?

Situation 1
2 Medical insurance

say your medical bill RM100k, 2 medical insurance that covers you RM50k each.
you claim the RM100k bill from each medical insurance RM50k + RM50k only

if your medical bill is only RM20k, you claim 20k from only either one medical insurance.


Situation 2
2 critical illness insurance

say you bought critical illness insurance RM100k from company A and B each. upon diagnosis of CI, you claim RM200k in total from company A + B


Situation 3
2 life insurance

say you bought life insurance RM100k from company A and B each. upon death/TPD, you claim RM200k in total from company A + B

Thank you for your reply.

How do we know the policy is allow to upgrade? What are the conditions for upgrade the policy? Can it done by walk through the insurance branch or online?

yes, when the fund performs not up to the projection, policyholder is required to top up premium so the plan can run until the end of the coverage term, in other words to maintain policy sustainability.


I also notice that some the medical insurance offer until age 99 and policyholder require to pay until 99 year old. Any medical insurance offer no payment coverage without using the cash value/cash bonus accumulated?

medical insurance is something that need to be paid until the coverage term. so yea there is no insurance that offer no payment coverage without using the cash value/cash bonus accumulated


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I saw this diagram in the BNM document explain about the investment link insurance. As you said there are percentage of premium allocate to the investment account as show in the middle column. Does the value derived from the percentage of premium then deducted all the fund related expenses then will be the Sum Assured as the final value to invest in the selected fund? The profit/loss of the selected fund performance is kept as cash value that the policyholder like those traditional insurance?

what is explained in the diagram is this, when premium is paid, the allocated premium will be used to deduct the insurance charges (be it life insurance, critical illness insurance, medical card riders and other riders etc.), deduct policy fee, then only the balance after these deduction will be put into the cash value (normally known as "investment" value)


What is the must have element for investment link insurance, is it life? If the new investment link insurance is  having those rider that I already have then it might not economic for me as I have to pay for the price.

life insurance is the must have element but it can be adjusted to the minimal, say 5k, 6k or 12k (different companies different minimal amount). but if your goal is for investment/wealth accumulation and growth purpose, investment-linked insurance policies is not suitable for this. so when you are looking at investment-linked insurance, reason is only for risk management purpose, to handle the "what ifs..."


Does the price for the investment link you provided is refer to the premium?

Thank you for the detail explanation.

Perhaps, I need to consider what is the effect of downgrade my CI insurance and then decide a traditional medical insurance (if possible with card).

I understood that life insurance may cover certain medical problems that are not covered by medical card.

Does anybody have a list of this?

Example you injured your private part?
If they cover it it they will use the fund from the annual limit?
Bcs I see there is something called emergency accident outpatient what does this mean?

Hello everyone,

I'm planning to buy a medical insurance soon.

Details about myself:

i) In my late 20s.
ii) Not married.
iii) No dependents (so life insurance is not needed).
iv) No pre-existing illness.
v) Occupational Class 1.

Do you think a standalone medical insurance is sufficient for now or I should opt for ILP?

Any suggestions are welcomed!

Hi all sifus here,
I has been annoyed by insurance recently, and this is the case.

I am currently pregnant. My husband is 38 years old this year. The next birthday is 39 years old. Since we going to have first child on this September, we started to have heavy responsibility and started to review our insurances respectively.

My husband：

Because we going to welcome first kid soon, and although I am self-employed, my income is not stable, so I mainly depend on my husband’s income. I am planning to purchase GE SPW20 for husband. Recently, the agent also quoted the price, as follows.

RM3000/annual
life insurance :RM500k
critical illness:RM200k
waiver benefit/TPD

I know that SPW20 is 20-year insurance. Although there is auto extension, I expect that the cash value in 20th years will no longer be able to sustain/maintain insurance. It is very likely that I will need to increase/pump money go inside. But I think at least these 20 years we are insured by GE. After 20 years, kid grow up and became independent. If there is any accident within 20years, at least me and my kid we still may have money continue to survive.
Husband currently only have 2 of GE insurances , and they were all old insurance policies.
One was purchased in 1994 and one was purchased in 2008.

1994-coverage end 2080>easipay-whole life with special cash bonus; sum assured RM20,806 ;RM90/monthly

2008-->medical card ; hospital room 200/day ; 100k/annual limit ; 400k/ lifetime limit;RM130/montly
        -->life insurance;35k
        -->critical illness;20k
below are the details of each rider.
CENTENNIAL ADDVANTAGE INSURANCE ; MYR35,000
IL-HEALTHPROTECTOR ; MYR200 [coverage end 2051]
CRITICAL ILLNESS BENEFIT RIDER ; MYR20,000 [coverage end 2080]
IL WAIVER OF PREMIUM PLUS ;  MYR23,510 [coverage end 2051]

In fact, currently husband budget for one month's premium is within about RM450-500.

Total amount(assume include SPW20): RM470/montly
life: 20,806+35,000+500,000=555,806
critical illness:20,000+200,000=220,000
medical: hospital room 200/day ; 100k/annual limit ; 400k/ lifetime limit

I asked agent to see whether husband if the medical card could be possible to upgrade. The agent said that because the insurance policy was too old, there was no way to upgrade, so I need to buy a new medical insurance. But looking at the most basic price of the new medical+life insurance policy requires at least RM350 a month. The better sum assured policy require RM500 a month, which is too unaffordable. So i plan the old insurance policy should be continued, and then focus on purchase new life insurance now.

I hope everything is clear. Hope sifus can advise me.

Thanks for the replied.
Oh im typing wrong. Medical card RM130/montly.
Rm390 is quaterly premium.

Hi sifus, I have an Prulink assurance plan with PMM3 annual limit 50k bought from my parents since I’m young. Now I’m 25, contacted the agent ask for upgrade my policy to latest PruWithYou with PRumillion med. The agent refused to help me either upgrade or surrender this policy then buy a new PruWithYou plan. The excuse from him is he will be in blacklisted if he do so. Is this the normal practise? He also said I can’t find another agent to help me to buy the PruWithYou too. So now I can only jump to another insurance company and surrender the old policy?