Ever wonder why your agent ask you surrender after 2 years and not anytime before that? your agents have indirectly asked you to buy a new policy, pay MORE premium, PAY her COMMISSION AGAIN and now you end up with 2 policies. the reason she asked you to surrender the old one after 2 years is because she will get to enjoy commission on PruWith You (PWY). if you surrender within 1 year, she will get nothing.

There is always one warning by insurance companies whereby insurance is meant for long term and switching is costly because of high initial cost. Based on this statement you really have to study whether do you really need this PWY or not.

your existing lifetime limit of 1 million is comparatively low in the market, but still more than enough. My own policy 120k per year, 720k per life, i haven't upgraded it yet but i'm planning to upgrade soon. However, if you do want to upgrade, you can upgrade. there are usually 2 options, upgrade existing or buy new policy.

Upgrade existing is cheaper, buy new policy is usually more expensive. but i do have to admit, sometimes there's a limit to how much you can upgrade in your existing but my point is, this probably wasn't presented to you by your agent and you buta-buta sign up new policy and getting weird comments like, then the old one no need to pay can only surrender after 2 years. of course you can surrender anytime

Without knowing the details it will be hard to judge whether you need (choice of word is 'need' not should) paying for the old one but your agent has misled you by asking you buying a new one and simply asking you not to pay the old one. maybe she did the calculation but she was not transparent. your current policy is prulife or prulink one? how old is it?

short answer: GP and private clinic visits not covered. too high risk and too easy to abuse. I'm sorry for your laid off. Just try to stay healthy and dont get sick for normal flu.

WAH? AGENT TAKING OF YOU? Of course take care, NEW COMMISSION wo, sure take care one.

you deserve what i'm throwing at you. I know agent susah cari makan, saying things like this putting you in the same lousiness as you and her. protect yourself and show your professionalism, dont sit in the same dark side.

This post has been edited by adele123: May 17 2020, 10:25 AM

Super busy, forgot to reply. I guess in your case you do want to uograde but i think the how it was presented to you was not very fair. But having said that the cost with upgrading is very high, hence feels like you kena tipu abit. Sorry no time to help more.

I dont think i can explain without writing 3 paragraphs and i'm not sure if that is enough to make everyone understand.

I guess this is what you need to be aware of.

Your family member may have bought it on a different month? It will come.

Whatever recommended by GE, i will suggest you follow. Should have some easy step as GE should make it easier for you to reply to them. Typically works like that.


This post has been edited by adele123: May 20 2020, 12:50 AM

Even with investment linked, you can get tax deduction.

Between investment linked (IL) and traditional type of policies, both has its own pro and cons. Hope you get what matches what you have. The slight downside is that the critical illness and medical plans designed for IL plans tend to have more variety.

Try to get them to send you the sales illustration and PDS, then it will be more transparent.

Aside from coverage term (sustainability) mentioned, could be other optional benefit that your agent may have added to the packaged.

Just curious. Have you truly gone through the thought process of why you need a 500k insurance policy?

I mean, most 26 y/o i know dont bother. Just saying.

it was not designed for the purpose. It gives you the flexibility if you really need the money.

but normal circumstances best not to withdraw.

if you withdraw now, and put money later, there is a charge (like how you withdraw from your unit trust and want to save again, they charge sales charge AGAIN unless you have credit system)

Since you want online platform means you want cheap. Means you gotta research yourself?

Hint: cheap things no good, good things no cheap.

Hint 2: most of them have online. From aia to zurich, from A to Z

Hint 3: etiqa is cheap but is it good?

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

No pain no gain.

Cost wise, it's better for you to upgrade.

Always go for upgrade if can. buying new incur new cost to yourself.

i guess that's the outcome of it. while it may seem long ago, it is unlikely you get more favourable terms with other insurers or takaful operators.

i'm not expert on this health assessment, but i have to remind, there is a shared database among all insurers and takaful operators.

So, based on my guess, in future when you apply company P and or company A, you likely gonna get same restriction. this is just to safeguard themselves from potentially higher risk.

you have to try quite hard to have it removed, if you even can at all.

I did say likely but there is a reason why he got excluded. There is a reason why that database exist too.

I know person to person can be different, what more company to company. I get it but... they all also share a same same but different underwriting guide lo. Cant be that different else *cough* agent A complaint to company A and agent B complaint to company B.

We can agree to disagree but i digress, i dont know how to underwrite healthy or non healthy person. I may be overly pessimistic.

when you mean outstation not overseas right? cause there's those t&c you need to worry about. you may not get coverage if you are long term overseas

i suggest drop your contact at rhb website, if they still have rhb insurance specific website. got business, should have ppl call you.

sharing experience from someone paying for my parent's medical insurance also.

i'm feeling the pain of paying age 66 medical standalone. if you can locate cheaper insurance with some deductible amount of around 5k, this will save you some money down the road. this is assuming you can fork out 5k for medical fees to the hospital on your own. i am willing to do that to save some money from paying insurance.

cause my mum very healthy.

i feel like i'm paying too much to AIA now... but mum too old to switch. sigh sigh.

staff have access to things that general public can't have access. not sure what is the complaint

the thing about wanting cheap medical plan is, it's a no ending game. AIA this year more expensive, because, just repriced this year. Next year Prudential reprice, Pru more expensive than AIA.

with upfront initial cost through buying with agent or buying it with ILP plan with their medical rider, constantly hopping medical plan is not ideal for general customers la.

so later medical, AIA more expensive, but for CI AIA is cheaper?

so the drop in sustainability could be many reasons, the investment not doing as well, your medical got repriced recently, but even that, sometimes all these are projections. what you need to be aware of is, as long as you keep paying the insurance coverage is still there, but if there is a chance it may stop soon, then you really have to take active actions like making changes to your policy (increase money or reduce coverage for things you do not want, etc).

There is something called regular top-up (name might vary slightly from company to company)

You can make use of it.

There is still a minimum amount you need to pay. Call CS or agent to understand more.

This post has been edited by adele123: Aug 7 2020, 08:44 PM

Actually... i go shop at the insurance company website and quote one by one.

On average i shop 5 or 6 before buying. Haha

Hmm then i might suggest you to give up online or go for traditional method. 3rd party is in general not as profitable to the insurance company.

If cost is an issue. Try buy those with some deductible/excess amount, if you can find.

it is complicated to compare. but either one will give you high annual limit and no lifetime limit. You should also look at other factors, example, which of the agent likely to continue to serve you? This can be important years down the road, when you need to use it.

I would not say which one is better than another but you need further analyse to how much room & board you are looking for and how long you intend this policy to last? use this answers, give to your agent and get a quote and compare on main aspects
1) room & board
2) annual limit and lifetime limit
3) Cancer and Dialysis limit
4) Price ?

(the rest are too minor and too complicated to be worth comparing but you can focus on certain things that you value, example, if you play lots of sports, maybe physio treatment appeal to you (if kena sports injury) than someone like me who does not exercise a muscle)

i would say, be cautious what you read from those websites. I noticed the articles generally not very well written on insurance.

employer cover medical?

parents are independent and dont rely on your monthly allowance?

no savings yet?

if all answers to the above is yes, maybe plan out your financials properly before committing to insurance plan.

Regards,

how do you know it is cheapest? you have to compare all insurance companies to know.

Anyhow, as long as you compare a few, you feel the price fits what you need. fine prints are usually in contract, which you can download from lonpac website

problem is that i can't find this medisavers on their official website. lonpac is an established insurance company, i doubt anything fishy going on but it's weird you got approach by agent but the product cannot be found on website.