Welcome to the new Insurance discussion thread Version 6.00!

Click <<HERE>> for the Insurance Discussion Version 5.00!

Created Date: 08rd Mac 2020

If you have any questions on insurance, just ask the experts in this thread!

The Top 20 posters in Insurance thread version 5.00


lifebalance 484
ckdenion 208
MUM 136
Holocene 129
HoNeYdEwBoY 64
JIUHWEI 61
yklooi 54
tyenfei 48
Ewa Wa 44
cherroy 31
alexkos 25
SwarmTroll 25
ahwai 24
wild_card_my 24

wow, thanks for the continual informal insurance information provider to those in needs about all thing directly and/or indirectly related to insurance and stuffs in Malaysia.
well down guys & girls....

You will need to update your insurance company on your current status and pay a premium for it. Otherwise it will compromise on your future claims if you fail to do so.

Hi,

Im gaining interest for AXA E-Medic family plan insurance which affordable for me (Rm 270/month).

Please share your honest experience good and bad for this AXA E-Medic.

i saw some review said during claiming not so well.

Thanks

AXA E-Medic family plan is a standalone medical card, so it does not come with any life insurance or critical illness. Since it's a standalone medical card, the premium will increase every 5 years based on your age.

It only covers children up to 15 years old. If your children are 16 years old and above, they would be excluded from this plan.

Another thing is that the annual limit for the most expensive plan is only RM100,000 which is not enough for serious illnesses like cancer. The good thing is that each family member will have his own annual limit and doesn't affect each other.

Personally, I would suggest you to get invidividual medical insurance if your budget allows because it is more future proof. Investment-linked medical insurance is more comprehensive which comes with life, critical illness coverage and waiver too.

Halo friend,

What you pay is what you get. It is good for low budget plan.
Honestly RM270 barely can get good medical plan for individual age over 30.

Just spend more time to read the T&C. You are looking for protection, not comparing price in wet market.

Anyhow, start low better than zero
Choose what you afford and understand the pros & cons. Then plan ahead for future.

Iindividual plan is always preferred, this I agreed.
But I have reservation on investment linked. With recent plummeting stock market, many ilp owners may get love letter from insurance company cited investment portion is not doing well. Those investment can result in negative figure if opt those equities linked funds.
Already spent money in paying insurance premium and still make a loss in investment linked. Double whammy.

For children, do we buy medical insurance till say 25yo then they are working they can buy their own, or buy till 80-100 yo also? Opinion?

ILP plans are flexible to extend the benefit longer at the later period of time. Your kids can take over once they've start earning a living.

By then things would have changed depending on the economy.

Get the basic covered and worry later for the future as it comes.

If you are buying a individual plan under his name, as opposed to a family plan, the medical plan will stay with him for life, until you/he change to another medical plan. You can pay for him, till such time he can pay for himself. Plans and T&C ,may change over passage of time.

Good day loquelevesque26, I'd deal with AXA medical claims, it is straightforward (so long the needed documents are submitted). More or less the SOP to do claims for every company is similar.

hi wayton, if you are buying ILP, just treat it as a "sure loss" product. Reason being is there are agents selling it to you as something you will get back in return. You can only get back portion of what you have "saved" only if you do partial withdrawal/surrender when you do not want it whereby the reason we look into insurance is mainly for financial risk management. so yea, when i told that to my clients, they don't expect any return out of it, when it runs till the end of the term, mostly the cash value will be near to 0.

hi anwa, for medical insurance, just prepare one for the children until they decided to take over and manage it themselves, most likely when they graduated and step out to pursue for their career.

Frankly speaking, you don't need a medical insurance beyond 80's.
The insurance premium is too extra ordinary high until not worthwhile to have one.
With 5 figure premium beyond 80's yo, not many people can afford it.
The one can afford 5 figure premium, then one is already rich enough, can self insured already.

No such thing you buy medical insurance at young time, then the premium will stay cheap when you are old time.

Medical insurance premium goes up together with ages.

Let the kids buy their own when they are financially independent.

guys, usually do we need to purchase medical insurance when we are already employed in a company?

If what is offered is sufficient for you or comparable if you were to purchase one for yourself; then you may not want to buy one for yourself. But the risk are if it is removed or no longer available if you were to be terminated or resign and your new company does not provide one than you may need to purchase one. But more importantly is, will your medical condition remains the same as today when you were to purchase a personal plan in later years. Medical Insurance cost goes up annually.

It will be advisable to have a personal insurance at all time as companies will not cover you sufficiently (low annual limit) or you may not be covered once you resign from the company and move to another company that may/may not offer an insurance coverage.

A personal insurance will have a higher annual limit and a more comprehensive coverage that covers you up to 100 years old.

so in other words, it will be not less cost effective for me to start later on if i do require more coverage?

how much does it cost for a medical insurance?

how much coverage should i be looking at?

Insurance will not be cheaper overtime even if you choose to delay your purchase now as the premium will hike up in the future to match your age.

Instead, you should buy as early as you’re still insurance.

That depends on your budget as well as your selection of your room and board, whether you want to afford to stay at least in a 2 bedded room or single bedded or etc.

How Much Medical Insurance Coverage Do I Need?
.... 19 Oct 2018
https://loanstreet.com.my/learning-centre/h...erage-do-i-need

All You Need To Know About Getting Medical Insurance In Malaysia ......May 3, 2016
https://www.imoney.my/articles/all-you-need...nce-in-malaysia

on average is how much? I am 31 btw. Male - non smoking.

thanks MUM. will read these links provided. Cheers

Two things to note:
1. Cost of insurance will be higher as you age,
2. If you happen to have some health issues, some exclusions may apply or additional premium may be imposed.

Alright thanks for sharing.

I am currently paying RM189 p/month on Allianz PowerLink,
150k on Life,
150k on TPD
150 Medical

Currently my agent is trying to aggressively push some Allianz Rider which cost another RM200 on top of my existing RM189 which I have no idea what is it about.

Do you think I am over insured for a 24 healthy male? social smoker and no known health issue.
feel like cancelling my medical because health coverage is unlimited by employer

This post has been edited by TechnoG: Mar 9 2020, 09:46 PM

Halo friend, you can't guarantee employee benefits no change forever right?

Regarding your exiting medical plan, do you know how much medical fees annually? Any lifetime limit? Any limitation for kidney dialysis & cancer out patient treatment?

Then ask your agent what's the different & benefits if top up another RM200.

For medical plan I always concern the investment cash value return for the sustainable years.

Understand your needs and buy only what you need.

When I was looking for medical insurance 4 years ago, the reason I took manulife was I think it's the only one with coverage till 99yo. Only now most company follow, otherwise most only offer till 80. I differ regarding what you say that we don't need insurance after 80. With medical advances and also statistics have shown, high chance most of us will live more than 80yo. If not mistaken, average lifespan of Malaysian male currently is 76 already. Furthermore, statistics have shown we spend 80% of our medical treatment cost during the last 5 years of our lives. I wouldn't want my family to be burden with high treatment cost when I get sick at 85yo.
Not sure if my thinking is correct. Would love to hear opinions from others.

Recently bought an accidental coverage package. I been thinking. If accidental injuries and visit normal GP then can claim but the thing is is it really necessary ?

Because only accidental causes that can be claim. And if injuries medium might as well admitted to hospital to claim medical insurance.

Thoughts ?

If lost a leg in an accident, if you got no pa insurance... How?

Halo Anwa,

Most of the medical plan now "renewable, valid till" till 99yo / 100yo.
But doesn't mean your current premium sustainable till that age. Insurance charge will raise from time to time.
Some of my friend's plan only sustainable till age 60 but policy renewable till age 99. Meaning to say company will ask for premium top up soon. If he refuse to top up... by age 60 he got to pay a lot more higher premium.

My personal preference to quote buyer sustainable plan till 80yo with certain amount of estimated cash value by that time. In order to have room against raise of insurance cost / slow investment market return.

No right or wrong to choose 99yo plan. Some of the just want to cover till 70yo. Saying no need treatment after 70yo
We advise .. You decide


Halo Thomas,

Sounds like PA right? Yes only accidental causes. And accident death.
Other claim of injuries follow a table by percentage of sum assured.
Such as lost of 1 arm **%, lost of both arm 100% etc.
We can't answer without knowing what you sign up exactly.

Better look in your policy for more info.

Get any agent to help review for you will do

Your family may not be burden with treatment cost.
But your family may be burden with ten of thousand premium needs to be paid every year.
Medical premium at old ages is not 1k or a few K pa.

Please be reminded that medical insurance is not covering everything, Outpatient cost, post treatment, nursing, medicine cost etc may not be covered by insurance. So there is still needs personal saving to pay for that.

Wait until when you old time, and every year pay such a medical fee up to 5 figure each year, then you will know or start realise the issues of paying medical at old ages, that I am talking about.

After such an age, even one has critical illness like cancer etc, doctor may also advise not to under knife, as your body may not able to coup with surgery and chemo treatment as well.

That's why medical insurance cover until 70-80s is sufficient.
If cover until 100, means potential make medical premium become even more expensive and unaffordable to many middle class.

Remember insurance mechanism is like a pool of fund, when the pool of fund needs to be used those beyond 80s, means potential higher premium

This post has been edited by cherroy: Mar 10 2020, 09:37 AM

I still got medical insurance that allow me to admit to hospital and claim

claim for medical expenses, but you cannot claim for lost of leg due to accident, or TPD.
just like CI insurance plan

This post has been edited by yklooi: Mar 10 2020, 10:07 AM

Looks quite sufficient to cover for a 24 year old especially if you're not married. But you may want to consider a top up to cover for critical illness as income replacement if you're critically ill.

However you may be required to do a top up if you wish to prolong your policy benefit for a longer duration.

When a policy says it's sustainable until 80 years old, it means your current premium payable may last until that age, but you have the flexibility to stop anytime or to reduce the premium if you don't wish to continue until that long.

Personal accident besides just accidental injuries, it also covers for lost of limbs, so it's not necessary just for the accidental reimbursement.

I take your point. But would you then say its better to start a medical insurance investment linked early, so that there is more time for the investment to grow (ups and downs of market) so eventually at the end of the day, enough to cover the tens of thousand in premium at age 80-99? Or, is it better to just buy enough till 80, extra money do own investment (buy house etc, can sell to fund the surgery or chemo at age 80-99)?

if you have the discipline to invest yourself and pay the different back to your insurance, then do so. Otherwise the purpose of the investment link policy is to give you a peace of mind that your policy still covers you even if you are struggling financially during a period of time or unable to pay for your insurance premium.

If u r accident injured and no admission required, the medical card is covering the GP clinic fees. Based on reimbursement. Do check with your medical provider.

PA has extra claim for lose of 1 eye, lose of 1 hand, lose of thumb. Which the life and TPD is not covering this lose of Thumb. Since PA is cheap and highly recommend to buy 1.

Don't think there is investment linked that being structured to be self sustained until 99, I could be wrong.
Also, the longer the ILP is designed to self-sustained, the higher the premium could be.

Also, investment linked is just investing in unit trust, and those unit trust may not perform as good to be self-sustained until an ages as projected.
That's why you hear some investment linked send letter to policy owner to increase their annual premium, especially with recent financial market lackluster performance and turmoil.

Some investment linked unit trust may as well result in a loss instead of gain, even putting FD can beat those unit trust.

Basically, there is no guarantee the investment linked will make enough to cover or self-sustained, it may or may not.

Basically, there is no free lunch in insurance coverage, you can't "beat" insurance, and never think of trying to "beat" them.

Buy it if you needs it and when can afford it, should be the mindset.

Well said, unfortunately many agents out there are playing too much with sustainability to create unnecessary fear in order to get sales.

In that case, it might be better to follow the adage, don't confuse insurance with investment? Just get a standalone medical card, money invest elsewhere and hope rich enough when elderly, or hope die young if poor investment skill.

standalone medical card are never meant for long term coverage since it doesn't allow you to add-on any other riders.

However if it fits your bill, go ahead.

But one time i found out standalone medical card COI is higher than ILP medical card. Other benefits you might wan to consider is the premium waiver in ILP. Standalone doesn't have this.

I see...the life insurance portion is the one that allow rider. Thanks for the info. Appreciate it.

The only rider is the premium waiver other life life and tpd and ci u can buy separate. But this premium waiver u cant.

You will also have to take note that standalone medical card benefits may differ from the ones offered in Investment Linked Policy within the same company. Usually the benefit will be lower / similar.

Thanks for those replying me on deductibles on V5.

I have a few questions more about this.

Still using my example:
Med Card A AL 20k
Med Card B AL 1.2M 20k deductible

Do I must fork out my own money first then do reimbursement from the 2nd card? Let say total bill is 50k, I using the B card first, do I need to pay the first 20k and claim later?

2nd question is this deductible apply per admission or per year?

Considering this scenario which is I only have Card B

Year 2020
Bill 1 10k I pay 10k, insurer B pay 0
Bill 2 15k I pay 10k, insurer B pay 5k
Bill 3 10k I pay 0, insurer B pay 10k

Year 2021 the 20k deductible will be reset?

If this is correct, how hospital gonna know I already billed 10k on 1st visit/bill when I want to pay for my Bill 2?

Got it. PA reimburse us of the loss/ injuries due to accident
And also can claim the GP cost.

Is this means medical card only covers room or those procedures/cost
But not reimburse the loss/ injuries ?

I wonder in general does one need PA ? I mean usually lifestyle not extreme hardcore. Staying at Urban city area.

I rides motorbike on weekends, few trips per day....
I bought PA that covers abt 100k for RM20 pm

As long as you drive a car or motorbike, it's advisable to get PA more than you are a housewife since motor accident are high in Malaysia

Hmm. Well said. My current premium monthly is 210.
Sometimes made me wonder if this package too extreme comprehensive.

Agent said can reduce some of those coverage sum insured. Maybe in future I might consider lower down it so that lower premium

This post has been edited by thomasjames: Mar 10 2020, 02:21 PM

Well, you can fall back to the goverment hospital, not necessarily as a last resort. They provide good care. 😁

You may want to relook at the riders that are attached to the policy, they are costed into the total premium, if your aim is to lower your insurance premium commitment.

But bear in mind PA only pays accidental death, whereas life policy pays for death from natural/illness causes.

Yes, medical card only covers your hospital stay, within limits.
Your life policy may also pay for Total and Permenant Disablement, this may be result of an accident or other reasons as stated in the policy.

It's ok to get a standalone medical card if you have the discipline to set out a portion of money into investment. Standalone will increase price every 5 years so in the end, the premium would be higher than investment linked. Also, you will need to get a second policy for life/critical illness coverage because standalone doesn't come with any of these.

I only propose standalone medical card for those people who have
1) Limited budget
2) Expatriates who are working in Malaysia and planning to stay in the country for short term.

RM210 is quite standard nowadays and I wouldn't say it's too comprehensive at this premium. I would say it's at its bare minimum for the life/critical illness coverage. You need the sum insured so that your debts won't pass down to the people around you.

Can anybody give me your opinions towards Great Easterns Great Family Care plan?

Thanks!

hi BacktoBasics, hope the above can help you

hey bro TechnoG, based on the premium you are paying, I will your plan covers quite good. cannot comment much on your medical card. the top 2 priorities I will look into is usually medical card and critical illness payout amount (to replace income during recuperation/treatment period).

hi anwa, there is no right or wrong. different people got different thoughts. love your input here. for financial and risk planning, ideally its good to plan till at least 80 (yea you are right average lifespan for male is 72~75 and female 75~78). However, insurance plans now have the option to extend when it reaches its plan term. so yea this really solved most of the consumers' problem.

hi thomasjames, in that case you check whether your medical insurance covers outpatient accidental treatment? because most medical card has this benefit attached to it.

hi kazekage, very good question that you brought up answer in spoiler

hi GloryKnight, my opinion towards the plan is if you are looking into getting yourself protected, then you can consider getting that plan (best utilize if you are looking to cover your parents and children too). What other areas you wanna know? Can't really give much opinion.

I believe Great Family Care is known as Great Generation Care in Malaysia.

It's a good plan if you have parents who don't have any critical illness coverage and it covers your future children as well. Parents don't have to go through any medical underwriting for this (of course cannot have any pre-existing conditions).

Also, if the proposer survive up to 80 years old, you will be getting the premiums you paid back. (If you pass away before that, you get the sum assured)

I would suggest this plan to clients who have:
1) Family history of getting cancer, Alzheimer or Parkinson.
2) Clients who have parents before age 80 and medical card is too expensive for the parents.
3) As an additional boost to own critical illness coverage as well as for parents and children.

Dear All Master,

Would appreciate your view on the following term quoted by GE agent to me.

I'm 33 yo single, non-smoker, drinker, OL with medical insurance currently covered by company.
Thinking of purchase medical insurance in case im not with the company.

Monthly RM220

Life, TPD and 45 CI until 80 yo (RM50K)

RM150 room
Annual limit rm990k
Lifetime unlimited

Is it worth to go for it?
Tks for advise.

Hi TK, with the premium quoted, the benefits look worth it to me.

Ckdenion, is it? Thanks for your comments.

Make sure it comes with waiver extra rider because you didn’t mention it in your post. Ask if SEPCC is included (early stage CI).

GE Great Generation Care Plan.

We call it 3D protection.
- Death
- Disability
- Decease

You will get your sum assured claim if death or TPD or 45 Critical Illness.
If nothing happen, by age 80 you will get total premium paid or sum assured which ever higher.
**Got guaranteed cash value/ surrender value

Due to GE campaign offer, this plan is cheaper than other GE Critical Illness Plan with same coverage.

The best is free 20% sum assured for you kids or FUTURE kids till age18. Cover 45 CI + 11 Children illness.

some example sharing.
Female 30NBD, RM200/m get RM168K sum assured
maturity age 80 she paid RM120K, return is RM168K

If your children pass age 17, they are eligibility for the plan.
RM80/m can get RM100K sum assured. Best part ... cover your future grandchildren for free.

Parents rider is options. Need top up for it.
Still good if age over 70 below 80. Cover till age100.

This post has been edited by tyenfei: Mar 13 2020, 10:08 AM

perhaps you can also consider increasing the critical illness payout and shorten the term of the plan to 70 years old (extend the coverage term when it reaches 70)

Life, TPD and 45 CI until 70 yo (RM80K)

RM150 room
Annual limit rm990k
Lifetime unlimited
with TPD/CI premium waiver till 70 yo

the additional 30k CI payout does help. just a suggestion. hope to hear from your good news upon getting the plan that you want.

Looking for best medical insurance

Age 30-35

No budget

Any recommend ?

while waiting for responses, I kay poh and googled and found this....
hope it can provide you with some info while you wait for responses...

best medical insurance plan in malaysia
https://www.google.com/search?ei=uXZqXq7ZL4...i13.CJ7fUnXQY1A

Halo friend,

Quote require following basic info:
gender
smoker / none smoker
accurate age. example 35 NBD (meaning you are 35 this year but haven't pass birthday)
type of work (risk calculation)

better to have monthly budget.

If that’s your given budget then it looks maximized. Unless you are buying based on needs then you’ll need to see if your agent have recommended you the right plan beside just medical coverage.

What’s your gender, occupation and do you smoke or not ?

As there are as many insurance products as there are insurers, the best medical plan would be what best meets you needs. Basic information and any medical history would be taken into consideration when preparing a quote.

Hi,
I just bought the Allianz for MediSafe Infinite+ base plan with other rides like power link, etc.. In the policy schedule summary page where it listed benefits summary and premium dates, it stated the maturity / expiry date for all benefits is 2040 (which mean i will be 67 years old that time). But the agent said it is cover till 100 years old and will renew to 100 years old when it mature at 2040.
Is it true that it will be auto renew till 100 years without any terms?
Just worry when mature at 2040 that time, suddenly it will say other terms like health, etc.

Both the sales illustration and policy should provide information if it's renewable. Ask the agent to point out the specific clause that's it's renewable. But generally all insurance companies do provide renewal option currently for investment linked policy.

Yo thinkgoodpositive (love your user id here )

Yea in this case, you are currently buying a plan with 20 years term. That plan itself is renewable till age 100. Upon reaching the 20th year, you will be prompt to extend the coverage and top up premium when necessary to run the policy longer.

Hi masters,

I realised that my Great Eastern medical insurance was actually an investment-linked life insurance with medical cover packaged together.

What I have is Smartprotect Essential 2, with add ons:

Premium Waiver
Critical Illness
Smart Medic + SMX
Hospitalisation Benefits
Smart Early Payout

I feel like my agent duped me into signing up for this whole bundle so he could earn more commission. This was the first product I bought from him and I knew nothing about insurance at that time.

Is there anything I can/should do about this?

Thanks. There is clause for renewable upon maturity to 100 years I just worried when that time they may check health status.

Ya, top up is understood. I just worried when that time dunno will ask or check my health status again before approve or extend my coverage.

Halo RigerZ,

Any reason why you feel so bad about investment link plan?

SPE2 is medical plan from GE. With sum assured coverage (consider as life).

Premium Waiver - This allow you to continue enjoy medical plan for free if you encounter TPD / Critical illness event.
Critical Illness - depending the sum assure allocated, for you when hit by 45 critical illness
Smart Medic + SMX - the medical plan. minimum RM990K annual no lifetime limit including kidney/ cancer.
Hospitalisation Benefits - pocket money if admitted to hospital. amount depend what you sign up
Smart Early Payout - this one work with CRITICAL ILLNESS. Payout partially in early stage when you hit by 45 CI.

Can help review if got more information.

auto-renew to 100 years old as long as the cash value can pay for the insurance charges. Can be 20-30k yearly premium at age 80 though..

If you just sign up recently still got free look period to cancel.

I bought this solely for protection and not for investing. I do not want to end up paying extra in my later years if because the investment funds are not doing well and doesnt cover the insurance charges.

I've had this policy for about 5 years already

For AIA, you indicate as you purchase the policy if you want to renew, then no further underwriting at a later age. Takes away the guesswork. Just continue paying your premium to maintain your policy. Can't comment about your current policy.

5 years is a bit too long to do anything now. You may want to read up on term policy if your primary aim is solely protection. But check out what riders you can/cannot add in a term policy. Investment Link policy gives flexibility that a term policy does not.

I meant protection in terms of medical, not term life

No worries as you may top up on your policy from time to time to increase the sustainability of the policy.

Did your agent explain to you the entire plan?

Most insurance companies sell investment link policies nowadays so unless you opt for whole life or term insurance (medical card), the other option is just investment link.

1st of all. SPE2 is medical plan as mentioned before.
If you need the critical illness coverage then basic sum assured apply. This part share with LIFE/TPD. That's how this plan designed.

If purely compare price confirm higher than normal standalone.
If compare benefits then much more than standalone.

Example you only plan to take medical cover for 5 /10 years then left the country .. standalone much cheaper especially if you are young.
I'll encourage youngster to get this if they really out of budget. Start low better than ZERO.

Reminder the cost getting higher and really costly over age65. Many give up by this time. You have to pay yearly or half year. No monthly allow.
Imaging if RM6000 yearly and keep on increase.
I check current cheapest option age65-70 RM6000.
age71-75 RM9000
age76 ..over RM13000

Why market got ILP medical plan?
1st, can add waiver rider. Free premium if TPD/CI event happen. Standalone no. You got to pay every year.
2. sustainable premium till old age. even if cost increase still much cheaper and affordable.
3. optional riders can be add in your plan. what you get is what you pay. at least you got the options.

Eventually the total amount paid by both Standalone and ILP plan is about the same at the end. Anyhow ..Standalone got to pay much more if you longevity

Suggest you meet with your agent. Get him/her explain to you pros and cons both plan face to face.
Reading here might not able to give you full picture.

Wish all of us have a good monday

This post has been edited by tyenfei: Mar 16 2020, 10:59 AM

No he did not explain it entirely. We only briefly went over the medical covers.

So even if i were to buy a medical policy now it will be ILP as well?

You have an option to get it as a term insurance (stand alone medical card) that does not have investment involved.

Or through ILP if you want to add on other riders as well.

I will normally suggest my clients to go for ILP for a more complete coverage.

Unless you are of the view that the riders (add on) are unwarranted, I believe the agent, in good faith, ticked all available riders😆 (based on brochure), in wanting to meet your medical & health protection. 

On your other question on buying a medical policy now, if your intent is only  to get coverage for hospital stay and related cost, than you can opt for a standalone medical plan. Or you can source for other available options.

But be noted that insurance cost for medical/health will increase as you age irrespective whether it's standalone or investment linked.

So that means I would have needed this policy to have the add on riders (which I kinda do) anyway

Thanks all for your clarifications

hi RigerZ, my guess is your main concern is not feeling good because you are getting something that you are not aware of. If you really look into term life + standalone medical compared to ILP (with the exact same benefits), actually till the end of the day, you wont have any investment return, unless you terminated the ILP before age 70/80 where by it wont be a lot too. of course this itself is very subjective depending on what age you bought at.

perhaps you can let us know what do you wanna do next? look into a re-planning for your financial risk?

regarding that term renewal it is a renewal without needing to check health status (provided you agree to extend before it reaches the end of the term, company will send a letter of request to you).