Anyone received letter from AIA on the revision of premium charge for A-Plus Med plan? Anyone opting for it?
Feel like ignoring it...

ignore also no use, will be auto charge to your policy anyways

yeah, i'm paying the same amount but the policy will lapse earlier.
just doubt will they decrease the annual limit amount to claim or not lol

That for sure won’t happen la.

did anyone get the same for GE?

previously the agent showed a minimum quotable premium increase on June 1 2020

im just wondering for people who hold the policy before the increase, will they still get the old price or will the new price be enforced?

They dont force us to pay new price but policy may lapse earlier.
So basically new/old policy holder will be charged internally the same amount for the same plan.

e.g. new policy holder pay RM266/month till 90 years old. Existing policy holder by right should pay RM230/month (existing premium) till 90 year old, if they dont opt for new premium (RM266/month) - their policy may lapse maybe till 85 years old only.

arclynmen: The annual limit will be as per your original plan, as you will be charged full premium amount. However for standalone plan, not paying the revised new premium, will risk termination of the standalone plan.

responsible poster: Generally will follow the rates as per age band. If increase in age band will be the same as plan unless a overall increase that you will be notified in writing that your rates have being increased.

do update us your good news. which insurance company are you referring to?

yea, GE also revised their Smart Medic Xtra COI from 1st June 2020. so policyholders with that medical card will receive notification on the COI increased.

For policy before Jun20 (By May20) they will enjoy the current premium for 1 year.

The increase of premium is COI. All medical policy will be affected. From what I know company will issue letter inform the premium raise 1 year later.

Other old policy depending the premium & riders in policy. Not everyone been inform to raise.
As you all know it actually depending how much cash value you got to sustain.

If you get the plan by lowest entry premium. Letter to raise issue to you faster.

Arclynmen pretty much explained it =)

ahh so new policy holders before the increase will only get to enjoy the old rates for 1 year.

old policy holders will be issued with letters

but i think all policy holders should be informed on the COI increase no matter how much cash value is in the account right?

Yes all police holder will be informed via postage mail as this is an mandatory obligation by the insurance company to do so

I check online the status still pending... my agent also everyday help me call to customer careline, still answer given is the same... a bit fed up

I do save some but the medical bill is more than what I have saved, terpaksa use cc to top up the short

Partly yes. I'm not sure start from when (need time to search the document) in 2020 till 31May2020 policy holder get to enjoy the current premium for 1 year.
Anyhow, the COI increase still apply to them. Same will affect the sustainability like other explained.

Insurance company will issue letter black & white to inform customer. Because insurance policy is legal matter.

Guys, I'm in the middle of selecting life insurance between prudential and GE.

Both policy is quite similar to what I want, only the GE is thirty bucks more expensive.

The hearsay is GE claim is easier and faster than PRU? Pls share your experience.

Another question is, does PRU has the tendency to increase premium over period of time?

Thanks.

This post has been edited by zhuanko: Jun 17 2020, 11:47 PM

what benefits are you getting for both of them if you don't mind to share ?

Have you compared with AIA, HLA, Allianz?

You need to look at the sustainability of the policy. Most likely GE's sustainability is longer than Prudential's if the benefits is similar because GE's premium is higher. Also GE has just recently revised the price for medical card, so it's unlikely to have another medical repricing in the near future.

Very unlikely the extra thirty bucks is for the hearsay 😂.

The higher premium may translate into higher cash value, try checking that out too.

That is not necessary true that only higher premium indicates a higher cash value as one of the factors. Cost of insurance is also a factor to consider and that not all insurance company will have the same premium with a similar benefits.

so i've reading up a lot of US-based personal finance books and there seems to be a common theme on insurance, i.e. "insurance is for protection only, not investment".

This got me thinking about my insurance choices. I'm 35 yrs old and i have the following 2x GE plans with the listed riders for about 10 yrs running now. They are all investment-linked which I understand is a mistake?

SmartProtect Essential Insurance 2 (RM270/month)
- SmartProtect Essential Insurance 2
- Critical Illness Benefit Rider
- Smart Early Payout CriticalCare
- IL Comprehensive Accident Benefits Xtra Rider
- IL Waiver of Premium Plus
- Smart Medic (SM150)

Great Early Triple Care Special (RM100/month)


I have quite a bit net worth with me that I'm pretty sure I can do without life insurance. My EPF & cash investments are 4x more than my life insurance sum assured. However, I do believe I still need medical and disability insurance. My question is, do you think it's worth for me to restructure my plan so I can:
- Remove the life insurance and investment portion
- Retain (& even upgrade) the medical & disability insurance portion

And what is the best way to go about doing it?

I didn't bother asking my insurance agent because he'll just tell me to retain everything and buy more policies

This post has been edited by encikbuta: Jun 18 2020, 12:12 PM