Insurance Talk V6!, Everything about Insurance
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 Jun 28 2020, 08:59 PM
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#1
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Junior Member
235 posts Joined: Feb 2018 From: Holland   
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Just wondering if the insurance agent living different place with the client, let say the agent live in Kedah while the client live in KL.
Any difficulties in terms of helping the client to claim / follow-up with the insurance provider if something went wrong? This post has been edited by coldbasecamp: Jun 28 2020, 09:02 PM |
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Jun 29 2020, 11:11 PM
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#2
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Junior Member
235 posts Joined: Feb 2018 From: Holland
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QUOTE(lifebalance @ Jun 29 2020, 12:26 AM) Oh I see, alright sorted it. Within 4k to 6k yearly as it is. 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).Nowadays with the internet, it's quite simple. Your agent don't have to be physically present other than signing of the policy. As the agent is just an intermediary, your contract is with the insurance company, so in any case if you're based in KL, you can always drive up to the Branches or HQ to deal directly with the insurance company for any claims matter. Uh I can definitely say it's not the cheapest but the coverage is above average than the other companies.  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? |
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Oct 25 2020, 11:05 PM
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#3
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Junior Member
235 posts Joined: Feb 2018 From: Holland
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QUOTE(cherroy @ Aug 9 2020, 03:48 PM) Medical insurance Came across this, was surprised cause most of the content I saw / heard from insurance agent suggested otherwise (which is understandable as they earn a living out of it).A bought at age 20, premium Rm1000 When A reached 40 time, premium become Rm2000 B only starts to buy at 40, premium RM2000. Medical insurance premium table or increment is always based on age. Whether you bought since age 0, 20 or 40, all follow the table. Medical insurance premium always goes up together with your age. There is no lock up in the medical insurance be it standalone or ILP for COI. Another eg. A&B same company medical coverage. A has company medical coverage, and also buy own medical insurance, it becomes redundancy (except if exceed the annual limit issue, if they are same coverage) For 20 years, A already paid 30+K to insurance, while still with company medical insurance coverage. B did not buy own medical insurance, saved up 30+K in the process. Only buy when 40, B has extra 30+k cash in hand, and if invest prudently with conservative return of 5%, B has more than 70K in hand compared with A. While both also have medical coverage in the process. The only difference is A eliminated pre-existing illness risk compared to B when 40. Medical insurance never has lock up premium. So you cannot lock up premium amount even you bought as early as 0 age. I wonder if taking insurance early (and never changed company since) will increase the likelihood of the company accepting the application / upgrading our plan when we ages? (assuming ceteris paribus) |
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Nov 1 2020, 03:26 PM
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#4
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Junior Member
235 posts Joined: Feb 2018 From: Holland
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my current plan (12 years already) is on GE, SPE2:
Lifetime limit: 800K Annual limit: 80K CI: 70K was advised to upgrade to SPE3 by my agent for the unlimited lifetime limit and 1M annual limit, and higher coverage and up to 90 days of pre-medical claim (sorry I forgot what is the correct term, just make it up) I understand that policy change means the agent able to earn commission from new policy, so I wondering if SPE2 memang really don't have this upgradeable options. The dilemma comes in because if I were to change to SPE3, I have to maintain 2 years of SPE2 for the contestable period in case anything happened to me at coming 2 years. |
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Nov 1 2020, 03:50 PM
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#5
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Junior Member
235 posts Joined: Feb 2018 From: Holland
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QUOTE(lifebalance @ Nov 1 2020, 03:30 PM) So what’s your take ? if SPE2 don't have such options to update for higher limit, I don't mind for SPE3 and paying the commission fee.Just wondering if it worth to change the plan, bear the contest-ability period for 2 years, and maintaining 2 policies for 2 years. |
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Nov 1 2020, 04:09 PM
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#6
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Junior Member
235 posts Joined: Feb 2018 From: Holland
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QUOTE(wayton @ Nov 1 2020, 04:06 PM) How much the difference between SPE2 and SPE3 premium? I am paying RM200 premium monthly for SPE2 (before that was RM180, GE revise the price recently).for SPE3, according to plan I am supposed to commit RM300 premium monthly. This post has been edited by coldbasecamp: Nov 1 2020, 04:09 PM |
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Nov 21 2020, 10:20 PM
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#7
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Junior Member
235 posts Joined: Feb 2018 From: Holland
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QUOTE(gc8889 @ Nov 11 2020, 12:59 PM) Thinking of that.. just wondering will I be wasting money getting Msian medical insurance now, Hi, just a little thought for your consideration.and if it is not a waste of money now, then will it be waste of money later when I move to SG and get an SG insurance later on top of this.. Assuming that you are Malaysian, if something unfavourable happen, would you continue staying at SG or come back to Malaysia? If you come back to Malaysia, would SG insurance offer better coverage than your Malaysia insurance? No right or wrong here, just to point out another perspective. |
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Nov 21 2020, 10:33 PM
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#8
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Junior Member
235 posts Joined: Feb 2018 From: Holland
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Any prudential agents here? Am interesting to learn more about prudential ILP, PM me thanks. ych91 liked this post
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Nov 25 2020, 03:25 PM
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#9
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Junior Member
235 posts Joined: Feb 2018 From: Holland
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the last hike is really subjective one.
Imagine a person, said Daniel paid RM300 and you paid RM500 for the SAME coverage. you will find yourself to experience price hike in a later time compared to Daniel (not guaranteed, but common sense). or scenario where you were extremely good luck that your DCA (monthly commitment) to the investment portion always making money while others didn't. as long as the plan not sustainable, normally will ask u to pay more. just my 2 cents, correct me if I wrong. |
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