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Insurance Talk V6!, Everything about Insurance
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mackerelisgreat P
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 Apr 28 2020, 01:46 PM
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New Member
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Hello, I’m new to the forum and need advice with the insurances I currently have. I would like to apologize in advance if my questions are very dumb. 🙏🏼
I have AIA Lifelink 2 and it comes with a medical card, these are the details:
A-LIFELINK 2
Coverage Amount: RM 100,000.00
Effective date: 17-DEC-2018
Expiry date: 17-DEC-2094
Premium: RM 200.00
Premium cease date: 17-DEC-2094
And then I bought another life insurance, the PB WealthElite:
PB WEALTHELITE 20PAY@70
Coverage Amount: RM 500,000.00
Effective date:24-JUN-2019
Expiry date: 24-JUN-2064
Premium:RM 266.25
Premium cease date: 24-JUN-2039
I’m a freelance translator and the company I worked with has terminated all translation work yesterday. I’m still in shock right now because that was my sole income. Right now, I would to have some money in my bank account in case of emergencies, so I’m thinking of cancelling the PB WealthElite. I’m not sure when this pandemic will be over and when I will have a proper job, so I would like to know if it is alright to cancel it or not, since I already have AIA Lifelink? I think both insurances have similar coverage (correct me if I’m wrong 🙏🏼), just that the coverage amount for PB WealthElite is higher. I need advice hahahah thank you! 😭
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mackerelisgreat P
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Apr 29 2020, 06:33 AM
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New Member
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QUOTE(ckdenion @ Apr 29 2020, 12:23 AM)
hi mackerelisgreat, sorry to hear what you are going through. indeed tough times for most people. the 2 policies that you have right now, for me, i will always retain the one with medical card. as for PB WEALTHELITE, if there is financial difficulty at your side, you can temporary stopped premium payment first. based on your situation (freelancer), it is a bit difficult to apply for premium deferment. also your PB WEALTHELITE policy is kinda new, i doubt the cash value in the plan has 2.9k (can you check the available cash value inside?).
For the cash in your bank account and FD, how long can it sustain you (assuming you continue pay both premium)? maybe I can guide you from here.
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.
https://pictr.com/images/2020/04/29/53InAD.md.jpg
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? |
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mackerelisgreat P
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Apr 29 2020, 08:09 AM
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New Member
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QUOTE(tyenfei @ Apr 29 2020, 07:36 AM) Like other suggest, try your best to keep the one with medical card. Even if need to ask from family support ..if they affordable. Because the cost of hospitalization is high. Illness and accident are not predictable. Some more got covid19 extra benefit. Mind to share your age and what kind of freelance job you in? Car / housing loan? Hi, I’m a freelance translator and have been in the industry for four years. Right now none of the companies I’m working with have projects to give to us translators. The economy is really awful right now.  No loans whatsoever. I’m really lucky to be living with my parents right now! |
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