wow, thanks for the continual informal insurance information provider to those in needs about all thing directly and/or indirectly related to insurance and stuffs in Malaysia.
well down guys & girls....

If lost a leg in an accident, if you got no pa insurance... How?

claim for medical expenses, but you cannot claim for lost of leg due to accident, or TPD.
just like CI insurance plan

This post has been edited by yklooi: Mar 10 2020, 10:07 AM

I rides motorbike on weekends, few trips per day....
I bought PA that covers abt 100k for RM20 pm

from my encounter....
during my working life,...I had some minor medical incidents, and some unhealthy level of cholesterol, high blood pressure,....
I had difficulties getting new one at age 55.....
even some that I got at age 48 are subjected to loading and exclusion....(eventhough there are no reoccurrence of incidents (for many years) and cholesterol and HBP are under control by medication )

Try study the possibility of using ilp product for the 'hedge'?

I think buying when older may cost more due to loadings of pre existing illness, family history and could be subjected to lengthy in depth medical examination too....

they cannot provides you with the current fixed premium for a lengthy period due to the yearly rises of medical cost....as below provides some insight of the % amount of rises per year.
Medical Inflation
https://infocus.wief.org/medical-inflation/

googled and found this article, which may or may not apply to Malaysia context........

Why do health insurance companies not cover people with low IQs?
Buying health insurance is tricky enough, but buying it for a differently abled person is all the more difficult.

Hi. I wanted to buy a health insurance policy for my brother aged 36 years. While buying the policy, I was asked about my brother’s qualification.
I mentioned that he had not studied because of his low IQ. But the insurance company refused to cover my brother under the policy.
Later, I was told to submit all his health reports, which i did. Then the insurance company asked for my brother’s IQ test.
I have submitted all document and reports but they have rejected my application.
Do all insurance companies refuse to give health insurance for people with less IQ ? How should I proceed further in this matter? Please help

It all depends on what exactly do you mean by a ‘low IQ’.
Does your brother suffer from a developmental problem like mental disabilities or cerebral palsy?
If so, an insurance company will not cover your brother since he has what is termed as a ‘pre-existing condition’.
This is because people with this problem, tend to have chronic or long term health conditions and are not medically fit while taking the insurance policy.
If you do want to take a health insurance for your brother please opt for policies that have a waver or waiting time before covering patients with pre-existing conditions.
Please be aware that in case of certain illnesses insurance companies will not cover your brother.

https://www.thehealthsite.com/diseases-cond...qs-p214-127065/

Many people are buying way too much insurance
.....20 Jul 2020

“Many do not understand the plans they buy into, and many buy the wrong type of insurance such as investment-linked ones, ” Robert Foo, CEO of MyFP Services Sdn Bhd told StarBiz.

https://www.thestar.com.my/business/busines...-much-insurance

matter of perspective or ????

if you need to do that,
may i suggest you "forget" about this agent,...for by the look of it, does he/she really studied and evaluated your needs before suggesting a plan with that cost?
or does he/she emphasized on the cost first (his need of cost target over your needs) before suggesting a plan to you?

is this RM18 000 yearly target set by BNM?
does it RM18 000 applied the same across the board? (means all insurance companies will have the same standard or it can varies higher?

if it is same across the board, then can it be higher than the BNM guidelines of min RM 18000 sales pa?

thanks for the input...
that means they maintained the same as BNM guidelines on min sum...

jfyi....
found this 9 yrs old post....
Unit trust company "did" set it sales target 3x higher than FIMM guidelines

read BACKWard the communication between WMK & felix
from post 35
How to be a unit trust agent?, example, public mutual
https://forum.lowyat.net/topic/475101/all

if the premium (selling) price is is about the same as other plan....
will this below post possibility be true too??

thanks for telling, so i guess the more appropriate or morally correct phrase or reason to tell the public to buy medical insurance at a younger age instead of when older is NOT about cheaper cost to buy BUT more of the risk of having pre existing condition at older age.
Nothing about cheaper to pay (or cost cheaper) as the cost can go up after signing it due to factors as mentioned by GE David, and premium can also go up with age after signing as mentioned by Cherroy

there was a 2019 thread that did touch on that...
medical insurance cost sudden increase 29%, normal !?
https://forum.lowyat.net/topic/4753108/all

all same conclusion....telling the client to buy medical insurance

agent A: if you want to buy, you should buy now as there is a possibility that you may have a risk of having pre existing condition later in life which may affect you ability to buy one or will be subjected to exclusion or loadings when you wanted to buy one at later age

agent B: if you want to buy, you should buy now as now you are young and the cost to buy one now is lower or cheaper than when you buy at older age....

which one of the above is more appropriate or morally correct phrase or reason to tell the public to buy medical insurance at younger age?

the worst one i encountered was the one telling me......"buy now as this plan will gives you 20% return of your annual premium and just pay 6 yrs only then no need to pay more"

the best one i encountered was the one telling me......i reviewed your existing coverage and found that you are lacking in this area at your current life stage,....it would be best if you can get one that covers this coverage gap....i also noticed that you have a foreign insurance plan too, do check with them how is the claim procedures or if there is any complication for claim when you are hospitalised in Malaysia."

what is your worst encounters?
what is your best encounters?

This post has been edited by yklooi: Aug 10 2020, 05:40 PM

thanks for telling about that....

this get me thinking.....

how should one liked or think the ethical agent should have explained to his potential client?

i know many of you are knowledgeable in this insurance industry,.....mind telling how do you pass on the knowledge of how best to spot a good or more ethical agent from the way they promote their product to a client?

let's say, in a situation where, you cannot communicate about what you knew about insurance to your loved one,....(example, you kena stroke cannot communicate in writing or verbal), then there is an agent came to your house to try to promote an insurance product to your grandsons or son or daughter inlaw (let say you had not bought for them any insurance)
you are aware, listening on the conversation of the agent and your loved one.....
how do you tell if that agent is "good" or so so or just not good to have?

what are some of the basic should have?
i googled and found this...
How To Know If You Have A Good Insurance Agent?
Does your insurance agent fit the bill?
https://dollarsandsense.my/how-to-know-if-y...nsurance-agent/

are those enough or there should be more based on your vast experience gained?

(i am try to compile a list of "how to spot" a good one, to be passed on to my sons when they are starting to work....)

straight direct answer to your question......yes seems like so, for as mentioned above postings, the premium WILL rise later too. YES, if you buy, it will provide coverage for things that could happens.
but
i guess that depends on from which angle you looked at?
as mentioned earlier, TS has already got company medical insurance.....
thus does he/she needed another medical insurance?

some would deem that is not necessary but others would say it is.
some would put in "What IF",
if that is to be taken into considerations, then the possibility are just endless.

some would argue that there are financial opportunity cost to bear in mind if one is getting a wider coverage just for the "What IF".
thus there are also some basic rules to consider the "What IF" scenario abit more holistically
example, do you have dependents?
do you have members of direct family members (brothers/sisters/parents) having history of medical problems (like, high cholesterol, high blood pressure, etc, etc)?
is your BMI number above average?
is your lifestyle sedated?
is your worklife exposed to 2nd hand smoke? or do you smoke?
do you have consume alcohol most of the days in a week of at least 2 glasses each out thing, or something like that....
etc, etc

well that is just my layman on the street take,...not sure of what those real insurance sifus think.

This post has been edited by yklooi: Aug 11 2020, 08:36 AM

Ok noted Yr choice..
Just suggestion only.... That money saved from not buying additional insurance should be used for investment or saving and not for other good to have or just a feel good moment uses