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Insurance Talk V6!, Everything about Insurance
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kienloon
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 Oct 17 2020, 05:33 PM
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New Member
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Hi Sifu, my wife is looking for a upgrade from her existing insurance.
Her existing insurance is from Prudential as below:
Death Benefits - RM20K
Crisis Shield Plus - RM30K
Accidental Death & Disablement - RM50K
Accident Medical Reimbursement - RM2K
PHL 150:
- R&B - 150
- Annual Limit: RM62,500
- Lifetime Limit: RM625,000
- Term of Coverage: 70 years old
Total Monthly Premium: RM210.78
Total Annual Premium: RM2,529.36
I would like to know your opinions on both of these policies:
37F non-smoker Class 1
Prudential -
Death and Disability - RM50K
Crisis Shield Plus - RM50K
Accident Death and Disablement - RM50K
Accident Medical Reimbursement - RM2K
PRUmillion med 200:
- R&B - 200 (Deductible: RM300)
- Annual Limit: 1.38 mil
- Lifetime Limit: no limit
- Term of Coverage: 80 years old
Total Monthly Premium: RM320
Total Annual Premium: RM3,840
Allianz
Life/TPD - RM50K
Critcal Illness - RM50K (Covered 77 Critical Illness)
Personal Accident - RM50K
Medical Card : Plan 200
- R&B - 200
- Annual Limit: 1.5 mil
- Lifetime Limit: no limit
- Term of Coverage: 100 years old
Waiver of Premium: Yes
Total Monthly Premium: RM300
Total Annual Premium: RM3,600
Thanks
This post has been edited by kienloon: Oct 17 2020, 05:34 PM
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kienloon
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Oct 17 2020, 06:06 PM
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New Member
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QUOTE(lifebalance @ Oct 17 2020, 05:45 PM) What's your consideration? I am looking to upgrade to 1mil Annual Limit & lifetime no limit. But Prudential only cover up to 80 years old, is it enough? And then I don't know the sustainability, normally how many years? |
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kienloon
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Oct 17 2020, 06:13 PM
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New Member
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QUOTE(ckdenion @ Oct 17 2020, 06:08 PM) hi kienloon, just need to make sure both plans with such coverage can reach up to at least 80 years old. check the sustainability clause in the proposal illustration. both plans are very similar in terms of benefits. which is your pick? Medical card cover up to 80 years old is enough? I saw some cover up to 90 years old and 100 years old. If I upgrade from Prudential is it no need to pay both premium for a year? |
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kienloon
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Oct 17 2020, 06:34 PM
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New Member
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QUOTE(lifebalance @ Oct 17 2020, 06:16 PM) Prudential policy can be until 100 years as well. What I'm talking about is the premium payable and sustainability of the policy. The term of coverage is until 100, but the premium you're paying at 300 can only last you until 80 years old. It'll be triple the amount if you want to really last till 100 Oooh, Allianz agent told me the sustainability of the policy (RM300) is until 63 years old. After that might need to top-up premium. But when we asked Prudential, he says can last until 80 years old no need to top up which I quite doubt. Since both policies are similar, is it more advisable to go for the same provider to avoid paying both providers for a year? |
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kienloon
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Oct 17 2020, 06:55 PM
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New Member
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QUOTE(lifebalance @ Oct 17 2020, 06:38 PM) Already told you Allianz won't be so cheap. Cause I sell both of this companies I know. If you're comparing on price paid for benefits, Prudential will be cheaper unless you're willing to fork out the extra premium for it. Like that I will just upgrading Prudential for policy RM320 based on your advise, thanks. |
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kienloon
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Oct 17 2020, 07:17 PM
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New Member
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QUOTE(ckdenion @ Oct 17 2020, 06:59 PM) yea, so you need to differentiate between coverage term and sustainability. medical card now mostly has coverage until 100 years old but the plan may not be able to sustain up to xx years old. so check the proposal illustration to be safe. Thank, I will check with the agent again. |
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