The advantage of getting insurance earlier is you may minimise the pre-existing illness risk, and get coverage during early age, instead of non.

Not related to cheaper premium or not.

Pls excuse me if I’m ignorant
Example: firstly, I’m covered by my company both life and medical. By the time I’m 55, there will b an amount that I’ve saved up for insurance. I then use this amount to purchase insurance at the age of 55 (let’s say)

Secondly, if I were to buy insurance at 30years old or 55 years old, the premium would roughly be the same? If not how much difference is the premium? The money saved for 30 to55 years old, could b use to purchase insurance at 55 years old

Hi, I went to my AIA profile and found this. Is this my cash value for PB Wealth Elite? If it is, it’s not a lot.
<a href='https://pictr.com/images/2020/04/29/53InAD.md.jpg' target='_blank'>https://pictr.com/images/2020/04/29/53InAD.md.jpg </a>
If I continue to pay both premiums without taking any freelance jobs, I can last till August/September. I live with my parents so my cost of living is not that high, so that’s why I can live by just doing freelance work. May I ask why it’s difficult for a freelancer like me to apply for premium deferment?

Hi all,

I'm currently 28. Class 1 job. Non-smoker.

I only have MP Generali health insurance from my employer.
I searched around and sieved through what I found interesting and ended up with these two.

1. AIA A-Plus Health
2. Allianz Medisafe

I wonder can I get a good enough ILP for below RM180?
So far from my understanding, standalone packages tend to be more expensive along the years that is why I'm leaning towards ILP.
I have not engaged with an agent yet. Thought of getting some opinion in Lyn first.

RM250 monthly
Benefits Payout
1 Life/TPD-100K
2 Critical Illness-150K
3 Early Critical Illness-100K
4 Diabetes Recovery-20K
5 Cancer Recovery-35K
Hospitalization & Surgical (Med Card
6 Room-150 daily
7 Annual Limit-850K
8 Lifetime Limit-Unlimited
Others Benefits
9 Waiver-Yes (in the event diagnose with CI, premium will be waive but still continue to enjoy the benefits)
10 Savings/Cash Value-Yes

Hi , above plan for single male - 30 years old should be ok right

Hi Tyenfei,, thank for your explanation,  I understood the importance of keeping existing medical policy, but I have doubt on no need to pay the premium , if dont pay the premium, really the policy will still active as what my agent said, only deduct cost of insurance?

Hi,

Anyone, to help with MLTA?

Thanks

Hi, Jiansheng Teh

I'd like to apply MLTA insurance to cover my house loan. I looking for some advice.

1. is the term MLTA useful?
2. long term MLTA suggested? (equal to House loan term)
3. what are the key areas I should focus in MLTA?
4. Are the returns are guaranteed at least 90% of proposed?

Thanks for the assistance

hi guys, for life insurance i realised that the total payout is much cheaper for a 5 year plan instead of a 20-30 year old plan.

for example the yearly pay is higher on 5 years for example RM10k for 500k coverage, but RM4k for 20 years. however 10k for 5 years is only RM50k, while RM4k for 20 years is RM80k.

is it actually much more beneficial to get a shorter payment term?

Hi, can I ask one thing in regards to your industry.

Many times I have to sit down and listen to an agent talk for 1-2 hours about the product offering. I'm aware most features are standard. When I ask about their competitors and how their plan differs and what are the advantages / selling strengths, they are unable to give any meaningful points. Most of it boils down to "Let me see the policy and I'll advise you."

Is there a lot of obfuscation in regards to competing policies or is it just smoke and mirrors ? I understand a sale is hard to make in this time and age but I really despise having to sit down for an hour or two to make small talk for this sort of thing.

Hey guys,

I have some questions to ask regarding insurance.

So I'll keep it simple. My mum is a widow aged 65, I've lost my dad 5 years ago.
My mum goes for full-body health screening annually and is quite healthy. Non-smoker and non-drinker.

She is obviously not young anymore, when I lost my father to liver cancer, it was a huge financial impact as he did not have any insurance.

My family's income is normal, around 350k annually from dividends, rentals and salary etc. As my father left his business shareholdings to my mother's name.

I am hoping to buy a nicer house for my mother to spend her advanced years in, with a better environment than my current place. However with my mother's old age I am worried that any sudden medical situations would put us at risks as you all know certain illnesses can be very expensive to treat.

As such, my question is if it is possible for someone her age to still get medical insurance, what kind of insurance premiums should we be expecting to pay? and what are the limitations imposed considering her age.

I would also love to hear any suggestions for any insurance policies.

Thanks Guys,

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 

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

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 ?

can someone enlighten me on have congenital heart disease, though have IJN  letter saying that

'my surgery had an excellent outcome , last reviewed on 2002, echocardigraphy examination showed no abnormalities, IJN not given further appoitment since 2002'

will insurance company cover treatment relating to heart ?

*i've yet taken any insurance atm

Hello sifu, wanna ask something on surrendering policy

Currently im having a policy with Agent A, and B, and both policy has coverage on hospitalizaiton (Agent A is the better one)

After notice this, i contact Agent B and wish to surrender my policy (i call it policy B) under her.
However, she noted me that by surrendering the policy B, since i have "shared category of coverage" with policy A, it will affect Agent A performance also.

Is this true?

Hi guys, I’m currently having stand alone life and medical policy and according to my agent the medical policy coverage is kinda low but I’ve just renewed my policy on end of Mac(pay the premium yearly)

He intro a new policy combining both life and medical. I’m ok to upgrade but I plan to upgrade only by either end of the year or early of next year. Having a little concern of overlapping the old and new policies (save money?)

He did mention about waiting time for the new policy to be approved therefore he suggest that I upgrade immediately

What do you guys think?

Did some reading on life insurance lately and in the US, for some (as idk if it applies to all) policies when you die, the cash value you don't get to keep it. Does that apply here too?

this is something new to me. had always thought that medical premium across companies is more or less the same with probably only plus minus 10% variance since everything is highly regulated

It wrote something like 6000 x 15% = 900 interest 1st year
6000 x 15% = 900 interest 2nd year
3rd, 4th, 5th
Total interest you earn for first 5 years is 75%
Than my mum wow, such a good deal, where find
At the beginning, my mum wish to intend a total RM50k (she assume RM10k first year, 10k 2nd year, 3rd - 5th), and proceed it with one goal RM50k, yeepy, just left it there 5 years, wait 5 years maturity then she will get RM50k plus yearly 15% (1.5k interest), 50k for 5 years for another type of "FD" (my mum thought it's new style of FD), it will become 50k plus 37,500 interest (total 87500), great deal right?

At the end it become RM50k yearly contribution. And the most terrible part is, my mum hate 'insurance'. She always murmur beside me yearly regarding that she bought a yearly 6k annual premium medical+ life + lil bit of saving, and thinking to surrender every year to save back the 6k 'spending'
Imagine, sounds ridiculous but it does happen

During my dispute with the advisor, i keep focus on this point, did you really expect my mum understand, especially they use those wording that uneducated senior that won't understand, ex. like circumstances, but not mentioning situation.

The draft paper wrote by the agent, i left it in my office together with the policy.
Probably i try to post it here on Monday due tomorrow's holiday and im not working during weekend.