One of the benefits of having a medical card is not having to pay from your wallet. But not all are claimable using the medical card as other have pointed out.

Hi, I am a 26 y/o non smoker male who is looking to top up my life insurance coverage for RM500k. I am currently comparing the ILPs between:

1. Prudential PruWealth Max
2. GreatEastern SmartProtect Legacy Max
3. AIA A-Life Wealth Care
(I approached Allianz as well but it's ILP - PremierLink Advance is not as feature-packed as the other 3)

All the ILPs are of 5 years premium payment term and sum assured 500k with waiver rider. The monthly premium for Pru and GE is the same @ 1109, while the monthly premium for AIA is ~1165. Pru and AIA coverage term is until ANB70 (auto extendable to ANB100), while GE is until ANB100.

Can I get some feedback on which ILP should I go for? Coz currently I am only with Pru (Prulife ready policy) so I am not sure how the other 2 insurers perform in terms of stability in investment returns as well as the smoothness of claim process.

Your priority is to secure 500k and finish payment in 5 years right ?

Policy sustainable until age 70 across the board ?

Smoothness of the claim process would probably be similar across all insurers with complete documentations subject probably to administrative delays. As for investment returns, adequate analysis would help identify how best to obtain a better return, of course, there are no guarantees.

This post has been edited by Cyclopes: Jun 22 2020, 02:25 PM

Difference in the insurance companies are generally the same. Like you mentioned, the length of coverage for the policies can be different. You will need to look for whether waiver is included and whether you are comfortable with the projected sustainability of the policy.

I would advise you to add critical illness coverage to balance your protection portfolio considering you have a large budget for insurance.

I see, what are the medical insurance with a bit of life, critical illness and waiver coverage are there on the market? Can you name a few? Do they come with the medical card as well?

It's called an investment linked policy whereby you have the flexibility to add-on benefits such as
Death/Disability
Critical Illness
Waiver of Premium
Personal Accident
Hospitalization (Medical Card)
etc

Most life insurance company offer such products. However the premium payable will be much higher compared to a standalone hospitalization plan.

Hi guys

If I terminated my saving insurance on year 2019 and take out around rm40k,do I need to declare to lhdn to avoid penalty

Tq

No.

No. Insurance monies are non-taxable.

Just curious. Have you truly gone through the thought process of why you need a 500k insurance policy?

I mean, most 26 y/o i know dont bother. Just saying.

Where can buy insurance (medical card) online without going through agent and then get rebate?

Life: 1M
CI rider: 300
Whole life start 26 yo for 40 years, no ILP.

$100/month, good deal?

I feel like cancelling life insurance tbh, no plan to get married knock someone up at the moment.

maybe from here?
https://www.fundsupermart.com.my/insurance


Attached image(s)

let me check it.

I am trying to buy for my sister who is OKU in "intelektual' but Manulife wanted her to do medical check up and premium is high.

I don't see there are any valid reasons for the needed to do medical check and impose high premium. Don't tell me intelektual has higher risk in all diseases.

Is this one kind of discrimination?

This post has been edited by jack2: Jun 24 2020, 12:37 AM

if i can remember,...previously got discussed in lyn.... intellectually disabled may have difficulty getting medical cards ......
as most plans would have sort of exclusion like this....
psychotic, mental or nervous disorders, (including any neuroses and their physiological or psychosomatic manifestations);

but not sure about any latest amendment to it...

Intellectual is due to lower IQ and not because of mental disorder etc.

anyway,...best is when you buy online,...try to read the stated T&C and clarify with them first...

googled and found this article, which may or may not apply to Malaysia context........

Why do health insurance companies not cover people with low IQs?
Buying health insurance is tricky enough, but buying it for a differently abled person is all the more difficult.

Hi. I wanted to buy a health insurance policy for my brother aged 36 years. While buying the policy, I was asked about my brother’s qualification.
I mentioned that he had not studied because of his low IQ. But the insurance company refused to cover my brother under the policy.
Later, I was told to submit all his health reports, which i did. Then the insurance company asked for my brother’s IQ test.
I have submitted all document and reports but they have rejected my application.
Do all insurance companies refuse to give health insurance for people with less IQ ? How should I proceed further in this matter? Please help

It all depends on what exactly do you mean by a ‘low IQ’.
Does your brother suffer from a developmental problem like mental disabilities or cerebral palsy?
If so, an insurance company will not cover your brother since he has what is termed as a ‘pre-existing condition’.
This is because people with this problem, tend to have chronic or long term health conditions and are not medically fit while taking the insurance policy.
If you do want to take a health insurance for your brother please opt for policies that have a waver or waiting time before covering patients with pre-existing conditions.
Please be aware that in case of certain illnesses insurance companies will not cover your brother.

https://www.thehealthsite.com/diseases-cond...qs-p214-127065/

$100 per month is in RM and the premium remains the same for 40 years?

If this is true, then it is a really good deal for 1M life and 300k CI. For ILP, it will take about RM400 a month for such benefits.

The medical checkup is to ensure that the person does not have any pre-existing conditions and have a smooth claim process in the process. The insurance company just want to have confirmation from the doctor side that the person is low intellectual in terms of IQ, rather than mental disorder or deterioration of mental capacity which could lead to Alzheimer's Disease.

As for whether the premium is expensive, we will need to look at the benefits of the policy and the monthly premium as well as the person's age.