Would like to ask a general question here

Assuming the COI/pax for my company's group insurance is high, does it make sense for me to withdraw the money and use that to buy my own personal insurance, as well as for my spouse (since group insurance covers spouse).

Edit: This is of course assuming the company is flexible in letting me do that

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

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?

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.

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 

I see a lot of online life insurance covered up to 500k only. How to buy 10 times of annual income? Does it mean buy multiple life insurance?

Hi guys, what insurance plans is best for a woman at 40 yrs old with 02 kids age 17 and 13?

Should she get term insurance till 99yrs for herself and ILP insurance for her 2 kids? What add ons do you recommend?

Their whole family members do not know anything about medical insurance and only goes to govt hospital and so far no issue with payments saying its affordable and maybe because they are bumi. How best to explain this insurance things with them?

Thanks in advance guys

I am a 24 yo non smoking female with considerably high myopia, still in university, have not bought any insurance before, and want to buy medical insurance, what should I get? Preferably it covers critical illness.
Also, I feel stupid to ask, is there insurance plan that will pay for my medical fees such as consultation, treatment, tests, admitting to the hospital etc without having me to pay from my wallet first?

Thanks

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.

Thanks for the response.

ILP is a red line I will not cross personally, I would rather keep it simple and pay minimum amount required to get insured.

But again, I don't have any dependants and not sure if it will remain this way for foreseeable future. And will RM 1M will be too much?

Hey Guys, any advice on getting a group/family medical card for 3 people? Adults aged 59, 56, and 20. Or is it better to get standalone for each 3?

I was attracted with this plan by then because the agent told me the cash value can be withdrawn after 10 years without any charges. And the cash value is almost same as I paid for the past 10 years according to the schedule shown, so I sort of think of it as a forced saving as well. But reading in forum, I feel like over insured but I’m not sure 🤔

30yo female non smoker
400k sum insured
350k CI
100k early CI
100k care for mum
premium waiver

How much per year for above ILP in market now?

I'm 33 years old, just married second year & no kid yet. Existing got ILP with 70k life insured only.

Am thinking to add more protection on life insurance. Should i go for whole life or term plan? am considering the GE Great Term Direct plan....

Maybe I had wrong expectations towards agent (sorry in advance), because I thought agent is supposed to handle claim matters since I might be..... (touch wood touch wood touch wood).

So can I understand as if agent is located far away from the client then the agent might not be able to handle claim as effectively as the agent able to?

I bought GE life with death coverage 500k at rm150 monthly. Do we have cheaper package without investment link, purely death coverage. How much monthly premium will it be ?

Sorry but what is the main difference between standalone and term life insurance?

I bought this for my daughter before she was born. The insurance agent is kinda pushy. I'm paying around RM190 per month. PRUlink managed fund 2 value also like crap, around RM755 only after 3 years. I was thinking of buying a new policy and terminating this one. Any suggestion?

Hi, I need a third unbiased opinion.

So I have two agents from two different companies proposing me ILP plans. Which one do you think will be worth it for my long-term commitment?

Company A:
Monthly premium: RM180
Life: RM100k
CI: RM50k (multiple claims including early stages etc.)
PA: 50k
Medical card: Co-insurance RM300
(The agent reasoned with me that since their medical card is cheaper than the rest, actually I could save more and use the saved money to pay RM300 when I need to use the medical card)

Company B:
Monthly premium RM210
Life: RM100k
CI: RM50k (including diabetes benefits & etc.)
PA: RM50k
Medical card: Zero deductible

At first I was going for Company A but the difference between A and B is only RM30. So if I go for Company A, I would only save RM30x12 months = RM360 per year. Whereas I could use that money to buy plan from Company B with cashless admission. However, Company A reasoned that I won't be going to the hospital every year.

I think that it's like a gamble.
Company B: I pay annually an extra of RM360 more than Company A's premium but I can use the medical card hassle-free, but also I may be healthy and not have to use the medical card
OR
Company A: I can save RM360 for a few years if I never do any claims.

Which one is worth the risk/gamble?
I'm leaning towards Company B but I have to hear an unbiased opinion.

Some said better upgrade with GE, some ppl said best to buy a new one. I am confused
Age 37

But she did offer to convert my hospitality coverage to another coverage (more comprehensive critical illness coverage) to not overlap, so have to assess that as well

however my feeling, serving 2 (or multiple) policy seems not financially wise. is there any practical consideration on doing so?

Yup, I’m assuming that if I apply for the new policy in January next year and it takes max 2 months to get it approved, by Mac I would have the new policy and I’ll get surrender my old policy by end of Mac

if putting premium aside and looking from COI angle, can i assume that the medical COI will be the same be it a standalone or ILP, say for e.g. a healthy individual aged 40 has the following alternatives:-

1) standalone medical plan with annual limit of RM1mil
2) ILP medical rider with annual limit of RM1mil

from medical coverage standpoint only, is the COI the same for either options above?

if the above is true, then i foresee if the sustainability of an ILP is at stake in the future, one will have the flexibility to "restructure" his/her existing ILP akin to a standalone medical card, i.e. keeping only the medical rider and very bare minimum of life coverage?

ok seems like my 3 post per day is up. till the next 12 hours..

Hi all

Looking for advise for my wife life + TDP + illness insurance upgrade
Currently, she cover with
- 1.32m medical / annual / unlimited lifetime
- 300k life/TDP/illness

Last month, just diagnose with SLE but condition is very mild which only need take medicine to maintain the  situation

Now we looking to increase the 500k life/TDP/illiness coverage
(looking for good insurance charge and at least cover till 75/99 YO)

Need some opinion of what kind of plan we can consider?