Yes personal accident is a rider that you can add on. It basically pays out if there is loss of limbs, accidental Death and injuries sustained from accidents.


You may add on any rider in the future subject to your health status at that later time.


Yes payout for CI will normally have a survival clause which is somewhere around 30 days from the incident.

Female illness or should I say anything related to hospitalization is covered by medical card but if you need extra pocket money to sustain your lifestyle then a female specific illness plan will help to provide that extra financial support.


Standalone or term insurance is the same. You normally can't add on rider on it, it doesn't have any investment elements and you pay only the cost of insurance for the coverage. You may sometimes get to specify your term of coverage ie Life insurance but not applicable for medical insurance in this case.

You may choose an ILP investment link policy insurance where you have a basic death benefit where you can add on riders such as
Critical illness
Personal accident
Hospital & surgical benefit
Waiver of premium
Etc.

Cheers.

This post has been edited by lifebalance: Jul 1 2020, 04:25 PM

Hi Bearberry.

My original reply to the post was on both Medical Card and Life Insurance.

Life Insurance can be Whole Life (eg Investment Linked Product, till age 100) or Term Life ( meaning you insure for a fixed shorter duration of 1,5,10,25 or 30 years). You insure your life against death.

Standalone, in that post, refers not to Life insurance, but to Medical Card.

If you want to cover only medical cost/ hospitalisation, than you opt for a standalone medical card.

If you want to cover both life and medical cost than you can opt for Investment Linked Product.

Standalone in essence means you are not pairing both life and medical card together in a single product.

Hope this clarifies.

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?

Personal accident will only pay due to accidental causes (Fell down, car accidents, etc.). Non-accidental causes like illness, stroke, cancer, you won't be able to claim under personal accident insurance.

Yes, you can increase the life insurance amount in your policy in the future or get another life insurance policy separately. This is assuming you remain healthy in the future.

CI will be paid upon diagnosis of CI. For Great Eastern, the survival period is 14 days, which means upon diagnosis of CI, you will need to survive for 14 days then only the CI will be paid to you.

For female specific illnesses such as facial/breast reconstructive surgery due to accidents, pregnancy/infant related complications, you may add this separately to your medical policy. This type of female specific illnesses are not covered under the normal medical insurance. Cancers such as breast cancer will still be covered under the normal medical insurance.

This is a medical card for your daughter. The policy benefits looks ok to me for the premium you are paying. You are getting very small investment return because I believe the policy is designed with maximum benefits rather than investment due to the low premium of RM190.

To sum up, the benefits of your daughter's policy is as below:

Life: 50k
CI: 50k
Child Specific Illness: 50k
Personal Accident: 50k
Room & Board: RM200 per day

Very likely the life, CI and child specific illness are sharing the same 50k. Will need to check the policy to confirm.

As for whether it is advisable to terminate this policy and get a new one, you might need to increase the premium to get the same benefits or downgrade the benefits for the same premium. Some insurance company does have a larger requirement to invest more of the premium in the investment to ensure the sustainability can last longer.

This post has been edited by GE-DavidK: Jul 2 2020, 03:36 PM

Well end of the day, if you do choose to stay with your current agent and you don't like them already, chances are you won't be having good impression that your agent would be giving you a good advise.

Then it would be better for you to look for another agent who you are more comfortable with.

I see a few mentions here about 'check with the website', but I can't seem to find any pricing information on GE/Prudential/AIA websites for insurance. Only fi.life got term insurance prices listed. Is there something I'm missing?

Hi,
I am still quite unfamilliar with the terms used in insurance policies.
An insurance agent proposed to me sustainibility until age 60. May I know what are the bad sides of it?
In your friend's example, you said that the company will ask to top up the premium. Under what condition?

A lower sustainability I.e age 60 would mean by 60 years old , you may be asked to do top up premium in order to continue your coverage which is normally much higher when you’re at 60 years old.

I won’t say it’s a bad side, it just meant that you’ll be asked to pay a premium top up different earlier.

If you chose a longer sustainability I.e 70 years old then maybe you can get to enjoy another 10 year coverage without being asked to top up.

Thanks for the short but clear answer!
Could you also please help me understand the meaning of cash value? The agent said upon the age of 60, I can increase my term, provided if my cash value is enough. This is an ILP plan.

Cash Value within an investment link policy is the value of the units that the insurance company have invested in for you while you are paying your insurance premium.

If the policy had 1,000 units and the unit price is RM2 for each unit, then you have cash value worth RM2,000

As I've explained earlier, that you need a top up. Assuming you were paying your premium all these while and by 60, you are left with RM2,000 cash value, the following year, the insurance company charges RM3,000 for your coverage, which means you need to do a top of RM1,000 to maintain your insurance coverage. (Of course this is a very layman explanation although it may not depict the real-life mechanic).

This is because insurance company increases their price as you grow older due to mortality and morbidity risk factor.

seems like I'm doing your agent's job, maybe he/she should share 50% of the commission haha j/k

This post has been edited by lifebalance: Jul 2 2020, 05:00 PM

I see! Wow I will need some time to digest all of these.
Haha thanks for your generosity in sharing the knowledge!

It looks like crap, because bulk of the premium was used for the benefits? Choose wisely or might end up, in your words, with another crappy policy.

This post has been edited by Cyclopes: Jul 2 2020, 06:17 PM

hi Bearberry, the payout of CI is not related to hospital admission/discharge. for medical card, in general it covers admission/surgery. perhaps you may wanna give some example of female illnesses? most medical card doesn't covers pregnancy by the way.

Barricade, for the premium you are paying and the benefits, it looks okay to me though. only if you think that this policy is not something you want, else i wont advise you to terminate and buy a new one. if possible, look at the benefits more than the cash value. because insurance is more on the benefits that you are getting and you grow your extra funds through other investment vehicles.

I bought Smart legacy & smart protect essential for life protection through GE.

Both are ILP plan.

Life plan & Medical Plan.
Btw SPE medical plan can be customize base on different purpose.

Hmm okay, congratz ?

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.

Up to you to decide whether with or without the deductible.

Having deductible saves 10% on the cost of insurance by just having to pay extra rm300 upon admission. May not be a huge savings now but over the years, that would add up.

But if you prefer something hassle free then zero Deductible should be your choice.

If both sustainability are the same age then go with zero deductible. *edit* forgot that you've mentioned the premium, I believe they have adjust it until age 70. RM30 difference isn't a hard choice to make lol

Personally I would go with a 300 deductible as it'll definitely save cost long run and utilize the extra budget for more coverage. Then again that's up to different individual.

This post has been edited by lifebalance: Jul 3 2020, 08:41 AM

For ILP premium not fix. It will be revise from time to time (not often) base on cost of insurance (depending company & riders) and fund performance (yes you need the fund name to study) and also the sustainable illustration y the time you sign up.

For me ... I don't comment at the moment without solid information.
Anyway, you can check & compare the "sustainable" & "Insurance cost" in both illustration table.

Good luck

Haha you're right. RM30 difference seems little, but the premium will increase a bit from time to time right...

Also, I'm working full time now and my company provides insurance benefits of RM5,000 per year, but after 2 years I plan to quit my job and work as a freelancer. Thus, I'm thinking of taking RM5,000 deductible for these 2 years and I plan to not make any claims for 2 years. However the agent from Company B advised me to take non-deductible now. He said if I take deductible for these 2 years, and then upon switching back to non-deductible, the premium will be higher.
I could not make any sense of it. Is it true?