Not all types of life insurance can be bought online. Insurers are likely to refer you back to an agent to prepare the quotation for you.

You can prepare all the necessary documents on your own whenever you need to make a claim and submit the forms to the customer service center of the insurer. However, in certain complex cases, agents can help clients to appeal cases to the insurer and do follow ups to expedite the process. So, having an agent is better for the client.

hi there, the process is not complicated. it is more of the hassle to go to the insurance companies to do claims through customer service. it is the time and effort spent. but i do know some are willing to do all this themselves without going through agent even though they bought from agent.

The requirements are quite clear, what documents will be needed. Probably failing to get the proper documents may contribute to the 'complicated' status. Otherwise what may be an issue is, what is claimable and what is not.  But proper and adequate understanding should address this.

The process is not complicated, you just have to submit relevant documents for claims with the insurance company, you can always call up their customer service hotline for assistance. Submission of course you have to DIY.

Just make sure you make known to your next of kin that you have a policy with the insurance company for them to make the claim easier.

if you are going to get medical insurance via agent, can also check out/compare getting life insurance via agent vs via website. guess asides from pricing, you can also consider since there is already an agent helping you with medical insurance. of course after comparing, end of the day decision is still yours to make.

normally i will compare it like this

term insurance and standalone medical card vs investment linked. this is something that is always debatable. actually there is no best product here, only thing is still goes down to your needs (how much exactly you wanna get covered for and the term of coverage). then only see which products is the most cost-effective for you based on what you need/want.

okay i need more info to recommend. your current age and also the amount of coverage you need.

ok then let me just assume you are 30 this year. I used online life insurance Fi Life (underwritten by Tokio Marine) to do this comparison with a simple ILP life insurance.

1. Fi Life Yearly Renewable Term (YRT) is the one that pays lesser now and premium will increase according to age (refer future premium rate).
2. Fi Life Level Term (LT) whereby premium is fixed for the following 20 years.
3. ILP whereby premium is non-guaranteed (yes for all ILP premium is non-guaranteed due to non-guaranteed fund performance).

[attachmentid=10491873]
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Based on 500k life insurance for 20 years assuming you buy at the age of 30. The total cost for
1. Fi Life Yearly Renewable Term (YRT): RM34,316
2. Fi Life Level Term (LT): RM31,188
3. ILP: RM31,200 (have an estimation of cash value of RM25k at the end of 20th year)

The above cost also assumed if you don't do any investment. So i factored if you have RM35k now and you are investing in a 6% p.a investment vehicle and at the same time you are using the amount here to pay for the yearly premium. End of the 20th year, you will have more if you bought an ILP.

1. Fi Life Yearly Renewable Term (YRT)
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2. Fi Life Level Term (LT)
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3. ILP
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do let me know if there are other online life insurance products that you are looking at so i can analyze for you

Good morning,

Yes, the cost of insurance will follow as per the table. The cost of insurance is not guaranteed. This is the current rate, any changes to these table, say three years from now, you will be charged the new rates with 3 months notice. That's the standard industry practice, same with other insurers also.

Hi there,

I am looking for Medical insurance for my dad.

Was quoted approx. RM8.3k with Life/TPD from Great Eastern. 990k annual limit with no lifetime limit. We didnt get to execute that because of MCO and his birthday just passed on May 2. Upon renewing the quote after his birthday(my dad is 65 this year) it has now risen to approx. RM13k annually which is a huge jump.

Life insurance/TPD is optional for me, medical is the priority. GE agent has quote me again approx. RM6k annually for medical only with the same 990k annual limit, no lifetime limit.

However seems that GE has the most negative claim experience so I am looking for options. Please PM!

Thanks

Hi all, I (36M) currently have a GE plan (investment linked):-

life coverage 150k
critical illness 150k
medical RM150/990k annual limit

Paying RM325 a month. My wife (35) is uninsured except for work insurance. We just paid off our home so now looking at medical/life insurance for both. 2 children (4/6 yrs).

Annual net income is about 85k for me and 45k for my wife.

I'm comfortable with my medical coverage, but my life coverage seems quite small. Does it make more sense to:-

1. Increase my life coverage with current provider (GE) either by topup or buying separate life plan?
2. Buy a life coverage plan with another provider (fi.life?)

At my current age, 20 year term seems a bit short (although it will cover the most 'dangerous' part of life in terms of expenses la). How much should I expect to pay to top up to 1 million (meaning +850k) full life coverage?

Frustrating that there's no way to compare ringgit-for-ringgit coverage between the providers.

Also for my wife's insurance needs, at the very least I want to get about 1 million medical plan for her (life coverage not sure yet), is it better to stick with current provider or should I diversify to other provider?

Medical insurance premium at old age is quite expensive to start with even if they accepted it.

For a couple of hundred thousand coverage, the premium easily goes to 5 digit pa and keep on rising together with ages.
Pay for 5 to 10 years insurance premium, easily more than 6 digit paid to the premium.

With annual income 350k it is sufficient for self insured already. Save for 3 years then you have 1 mil of spared fund to cover all aspect of medical expenses.
While insurance never cover every aspect.

Don't get me wrong, it is not to discourage to have medical insurance, it is up to individual preference, no right or wrong.
Just pointed up with such a high income, the importance of insurance become lesser.

Anyone received letter from AIA on the revision of premium charge for A-Plus Med plan? Anyone opting for it?
Feel like ignoring it...

For policy before Jun20 (By May20) they will enjoy the current premium for 1 year.

The increase of premium is COI. All medical policy will be affected. From what I know company will issue letter inform the premium raise 1 year later.

Other old policy depending the premium & riders in policy. Not everyone been inform to raise.
As you all know it actually depending how much cash value you got to sustain.

If you get the plan by lowest entry premium. Letter to raise issue to you faster.