Guaranteed Cash Payment is different from Dividend. The Guaranteed Cash payment is based on sum assured (23k) and not the premium you paid.

You have two options, (1) withdraw the guaranteed cash payment (2) keep the money in your AIA account. If you choose option (2), dividend will be paid on amount in your account. However the dividend is not guaranteed.

Hi, may i know what is the estimated premium range for income protection plan, assuming to insured for RM4k per month.

Hmm I don’t get you, you mean you are earning 4K and wish to cover how many years of your income ?

Probably you can tell me as below
Age
Occupation
Gender
Smoker or non smoker
What’s the amount you’re looking to cover ?

Hi Derrick, whats your age, occupation, smoker/non smoker?

if you want to have 4k/month insured say for 5 years, that will be 280k.

This post has been edited by ckdenion: Jun 9 2020, 10:45 AM

Hi all, I (36M) currently have a GE plan (investment linked):-

life coverage 150k
critical illness 150k
medical RM150/990k annual limit

Paying RM325 a month. My wife (35) is uninsured except for work insurance. We just paid off our home so now looking at medical/life insurance for both. 2 children (4/6 yrs).

Annual net income is about 85k for me and 45k for my wife.

I'm comfortable with my medical coverage, but my life coverage seems quite small. Does it make more sense to:-

1. Increase my life coverage with current provider (GE) either by topup or buying separate life plan?
2. Buy a life coverage plan with another provider (fi.life?)

At my current age, 20 year term seems a bit short (although it will cover the most 'dangerous' part of life in terms of expenses la). How much should I expect to pay to top up to 1 million (meaning +850k) full life coverage?

Frustrating that there's no way to compare ringgit-for-ringgit coverage between the providers.

Also for my wife's insurance needs, at the very least I want to get about 1 million medical plan for her (life coverage not sure yet), is it better to stick with current provider or should I diversify to other provider?

Topping up on policy will need to check with your existing agent as they will check with the existing policy cash value plus new premium required.

It will be suggestive to cover at least
10x annual income for death or disability
5x annual income for critical illness as income replacement.

It will be cheaper to buy a separate life policy than topping up though as life policy only offers bigger discounts per thousand sum assured.

Fortunately I’m able to provide premium to premium comparison for different company but will need to finalize an elaborate financial plan for your family.

You can diversify to different companies if you want just the absolute best coverage for the same or lower premium.

It would be better to get another life insurance policy with different length of coverage as you want to cover your most 'dangerous' part of your life while your kids are still young and relying on your income.

For your medical coverage, it is sufficient and future proof.

You can consider to increase your life and critical illness coverage. Depending on your needs and objective, The length of the policy coverage can be adjusted for short term protection (i.e. 20 years) or become whole life (up to age 100) if your objective is to leave a big inheritance for your wife/kids.

As for your wife, you should also consider getting a medical insurance for her, with reduced life and critical illness coverage if budget is limited. This is because work insurance's annual limit is usually very limited.

It seems ok your current medical plan.
Anyway, better double check with your agent the CI sum assured shared with Life or separated.

Suggest next move to cover both kids & wife with medical plan. Most important with payer waiver benefits. (assuming you going to pay for them)
I know your life coverage important as main income protection. But their medical plan are priority at the moment. If any bad incident / illness happened may cause them not eligible for medical anymore.

Like other suggested, increase your life sum assured with Critical illness base on how much you need. .. Or available budget at the moment

Cheers

Your frustration is understandable. Generally though all basic life plans are the same, but there are many other life products that offer variations with each having specific benefits that may not be available in another.

Taking note of your young family and earning potential, current coverage of RM150k may not be adequate.

Your wife's medical needs to can be increased for better coverage

i was in the same dilemma as you. i ended up getting a separate term life cover of RM500k. personally i don't treat life insurance as a long term plan because the amount covered depends on the living arrangements and income

the amount of cover for single, married, 1 kid, 2 kids, whether the kids are still young or already grown up are all different depending on one's income

My client this year 63 years old has been buying medical card from me (annual limit 150k) for the past 10 years. Her annual premium when she was 50 - 59 years old is RM 1303 per year. Then now 60 plus she paying RM 1,738 yearly. Maybe this card will suit your requirement.

I bought for my mum an affordable card

150k annual limit
R&b 200
Non level.
Premium per year
60-64 is 1738
65-69 is 2607

Here is some better plans.

Age 50 - 59 RM1329 yearly
Annual Limit 1 Mil

Annual Limit 1 mil
R&B 200
60 - 64 - 2204
65 - 69 - 3169

Is there any better plan than Great eastern smart protect junior . This plan is coming to rm240/month.

Told you so earlier ago. How is Melaka btw ?

This post has been edited by lifebalance: Jun 10 2020, 10:12 AM

Better as in cheaper premium?
What were the riders that were included in RM240?

Hello, I am a 25F and thinking to get my first insurance.

Should I get life insurance or a medical card, with or without investment-linked? I am thinking to just start with something basic and add-on as I grow older to increase coverage etc..

What is estimated premium for those?
Age: 25
Gender: F
Occupation: Banker
Non-Smoker

Thanks sifus!

It will be advisable to get an overall policy hence an investment link policy. A decent start can be around 200 monthly for you.

hi 123azerty, can look into a medical card to cover hospitalization/surgical expenses and also a critical illness insurance to cover your living expenses/a portion of your income in the case of critical illness.

Hi 123azerty,

Medical Card would be very basic to start with. As you intend to add on other coverage in future, a Investment Linked Plan can be a better choice. You can include both life and critical illness to the plan.

medical card insurance, usually take how long to process "pay and claim"?