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?

Not necessary as documents can be couriered and insurance companies have branches in other smaller stats though not all.

But yes there can be a delay of 1 - 2 days extra as documents may be take some time to courier.

Both whole life and term life has its benefit... Depending on how you want to address your needs.

There are agents who DO travel outstation to attend client needs, as conditions may vary, and with advance use of technology, some matters can be handle even from a distance.

its easy nowdays, agent dont have to be present to able to assist you for hospital admiton or claims...
documents can be scan & email to your servicing agent or directly to the insurer company

For the pass 3 months during MCO, all claim are this way. I have claims already payout within 3 working days
while the original receipt is yet to sudmit to branch.

Hi,

I am currently age 27, and my medical policy started more than 3 years ago on nov-2016.

My medical policy covered until age 100, under GE which the premium is 200 monthly, with 990k yearly and unlimited lifetime medical cost, 50k on life/tpd/CI and 20 years premium waiver.

Recently I checked on the GE portal, it show that my policy can sustain until end of policy term.
Can I know:
1. Is it really rm200/m can sustain until age 100?
2. How trustworthy is the projection on the sustainability? Where can I get the info how the project it?

This post has been edited by angyte: Jun 29 2020, 11:48 PM

Sustainable base on current COI.
You need to know what fund choosing in your ILP. Study is it performing well. It will be quite safe if is Lion Fixed Income Fund.

You can always check the actual TIV(total investment value) with the illustration table in your policy. Above mean good, below mean shorter sustainable.
Anyhow still depending how your plan been design.

1. May or May not depending on the repricing of cost of insurance over the course of the years till you are 100 years old

2. You may refer to your policy or go to eConnect via the GE online portal to check.

All investment are subject to risk and you should take whatever that is projected with a pinch of salt that it may achieve such figure as well.

Then again but insurance because you need the coverage and not for Investment purposes.

Hi, thanks for sharing your coverage plan. When you have this plan, do your agent actually tell you it's sustainability? Supposed they will have to let you know. Because when i recently bought for myself, they will show estimated sustainability.

1) Based on your discussion with your agent, you should receive info about this. But as mentioned as above, if cost of insurance increase, basically the sustainability will reduce too, provided you are paying for the same premium
2) There's never guarantee on this i supposed. My agent told me is not guaranteed.

There are many ways to do this. Depending on your needs.

Do you only want to cover your most important years, i.e. working age up to age 55? Or you want to build an inheritance for your next of kin, then you should go for whole life. Of course, whole life's premium will be more expensive than the term coverage.

The next question to ask, is whether you want to go for term insurance (traditional) or investment-linked. Term insurance can be slightly cheaper now but the premium will increase according to age (some term insurance will stay leveled). Investment-linked will stay fixed until the sustainability runs out and has cash value to withdraw anytime.

1. For premium of RM200 per month, with 990k yearly and 50k life/CI, it is very unlikely that the sustainability can last until age 100. My estimation based on my experience is that the sustainability for your policy is around age 70 or even less due to the recent medical repricing.

What you are seeing is that the policy can last until age 100, it is probably the length of coverage of your policy. For Great Eastern, it is most likely to be age 90 with auto extension rather than age 100.


2. The projection is not guaranteed. There is a best case scenario (Y) and worst case scenario (X). It not guaranteed and the market can perform better than Y or worse than X.

You should be able to find the projection at your policy copy. At the page with the projected investment value for each year up to age 90 ++.

This post has been edited by GE-DavidK: Jun 30 2020, 04:05 PM

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 ?

Check it up yourself directly with the insurance company website as the quote differs from each company

Hi sifu , for female policy ,

Can we add prulady insurance in our all in one prudential plan as rider or must purchase a standalone prulady plan ?

Previously can add in as rider, but now only as standalone plan

Check out term policies, might serve your need.

RM150 monthly for 500k coverage is extremely cheap, for a whole life policy it would cost at least RM200 per month for a person who are in their early twenties and this is with investment-linked.

My guess is that your policy could either be:

1. Investment-linked policy with 20 year coverage
2. Or, it is simply a traditional policy (without investment-linked)

Do you know what is the name of your life policy?

any cheaper you need to buy online direct without agents to help you. Especially Male also more expensive. HAHA

No pain no gain.

I'm sure this RM150/m for 500K life policy was purchased some years ago. now hardly get this premium. if u wan anything cheaper than agent's offer. then self checking with the respective companies on term insurance.

Depending on your profile your monthly could be as low as RM100/month.

Best,
Jiansheng

hi tony, if you are looking into term (non-ilp), perhaps let us know how long coverage term you want? for example, 500k @ until 60 years old. then only can compare is it actually cheaper than what you have now because imo the one you have now is considered cheap already.

Is Personal Accident another type of rider like CI? Does it mean that if I got into an accident (touch wood), it will provide a payout?

Not required at the moment but I can still add the rider in future if I need it right?

Hi ckdenion. The payout for CI is only applicable after the patient is discharged is it? I have another question though. For female illnesses, it's not covered in any Medical Card right?

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