Add in Coverage period - 6 August 2021 onwards until announcement of end of coverage

Can we stack more than 1 CI plan?
Lets say now we have 3
In 2022 we claim 1. So it will automatically terminate. Left 2

In 2030 we claim another. Left 1
And so on?

hi zzzxtreme , we can stack life , CI , accident coverage value as we want....
for example , Ali purchase CI from AIA 100k , prudential 50k , GE 50k
When CI strike we can claim from all 3 together at the same time only, total of 200k, who bank in the money to you first depend on agent & insurance company efficiency.

The insurance plan wont terminate if you buy add on called payor, the policy still continue to run and bear by insurance company

This post has been edited by ping325: Aug 7 2021, 04:54 PM

i could be wrong, but i think zzzxtreme wanted to ask something like this...

for example , Ali purchase CI from AIA 100k , prudential 50k , GE 50k
Ali diagnosed of Cancer in 2022
he only claim CI from AIA 100k in 2022
then in 2030 he claim from Prudential 50k
then in maybe 2032 he claim the last policy form GE 50k

from his earlier post....
"Lets say now we have 3
In 2022 we claim 1. So it will automatically terminate. Left 2

In 2030 we claim another. Left 1
And so on??

i see…I don’t see any terms that don’t allow customer do that

Basically the bank have 200k ready to bank in to you but you ask the bank bank in 50k now first , another 150k no need first and in future only bank in…. For sure they welcome you

Once CI claimed doesn’t mean the policy ended, you still need to continue pay if no payor purchased. The policy still jalan but without CI portion only…. That’s why payor also quite important, once a person diagnose with CI but survived , the cash value inside policy still jalan and pay by insurance company until policy term ended.

Let’s say ALI purchases :
AIA CI 200k , payor , rm200 monthly
Prudential CI 50k , payor rm100 monthly
GE CI 50k , no payor , rm80 monthly

Suddenly CI strike , ALi claimed from AIA , so AIA pay 200k to him and help him continue pay rm200 monthly until policy contract end , this mean the cash value inside gonna be a lot because CI portion gone already…

Ali don’t claim from prudential or GE , so he need to continue pay for 180 monthly , but if I’m ali for sure I will claim all….since they money is ready to bank in to you. Plus GE , prudential can reprice you anytime in future.

If I’m Ali , I will claim from prudential and let payor kicks in & terminate GE if don’t want burden with cash flow from insurance anymore. In future , I still covered for life by prudential and AIA + I can withdraw emergency cash anytime from cash account..

This post has been edited by ping325: Aug 7 2021, 06:18 PM

Thank you. Now I know whats the meaning payor 😂

Does a payor rider kicks in upon a diagnosed of a CI ?

The purpose of a CI policy is to obtain a lump sum payment and is there a reason why would an insured add a payor rider to continue the policy?

Isnt a payor rider kicks in only upon TPD or death to protect the dependents.

Because zzzextreme ask about CI so i answer for CI portion only. Except CI , payor actually cover TPD also.
If want to know in depth payor , there are payor basic , spouse payor , parent payor and so on ... all got its different function...

For basic and most widely used....is cover for both CI or TPD
more info here : https://www.prudential.com.my/en/products-r...rs/payor-basic/

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Regarding your question : The purpose of a CI policy is to obtain a lump sum payment and is there a reason why would an insured add a payor rider to continue the policy?

My personal answer as below:
Scenario 1
If lets say ALI purchase a CI ILP without payor. Once he is diagnosed with CI, he definitely will need to use a lot of cash + he cant pay for future policy premium.[lost income / job]
If he still want continue covered for life,accident,medical cards he have to continue pay by himself or just terminate it.

Scenario 2
If ALI purchase CI policy with payor , after he get the lump sum cash from insurance company , he no need to continue pay the policy.
Insurance company help bear it until policy term ended. This means , after ALI diagnose with CI :
i) he get lump sum cash for treatment or own use [ this money eventually will finished used ]
ii) his payor kicks in which mean future policy money no need pay but still continue insured with Life + Accident + Medical Card FOC [depend on what he purchase]
iii) future policy money all paid by insurance company , which mean cash keep continue accumulate inside the cash account for future withdrawal
* Once payor kicks in , everything cannot be modified anymore [imagine ALI is paying RM1000 monthly policy , this RM1000 is foc paid by insurance company every month]
* Because of ILP, certain % of money from this RM1000 is parked under investment / savings. So basically ALI keep on can withdraw cash in future as long as there are cash inside.
* Savings / Investment account portion will increase because CI rider already been eliminated
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Or maybe in layman explanation , payor helps to reduce future burden when something unfortunate happen to someone but he survived.

This post has been edited by ping325: Aug 7 2021, 10:30 PM

.

This post has been edited by mini orchard: Aug 7 2021, 10:07 PM

hi mini orchard, it depends on what is in the plan, if that plan itself is solely for CI, for example: only minimal life insurance (say 5k or 12k), then with CI of say RM500,000.

in this case since the policy only serves the purpose of CI payout and does not have the intention to continue policy after paying out CI, then yes there is no need to add in the waiver rider.

because certain plans the CI payout amount is accelerated from the life insurance (amount of CI payout will deduct from the life insurance amount), for example: RM1,000,000 life insurance with RM500,000 CI (when CI RM500,000 is paid out, life insurance balance will be RM500,000). then for this case, then likely there is a need for premium waiver rider to put in. but the premium waiver rider doesnt need to be high amount, just need to make sure it can sustain the RM500,000 life insurance balance will do.

The purpose for the waiver of premium rider is to reduce the burden on your finances while you've succumbed to Total Permanent Disability (TPD) or Critical Illness (CI) where the insurance company continues to pay for your premium until the end of the rider's term.

It's applicable on
1. Insurance policies with hospital & surgical benefits
2. Life insurance
3. Endowment & Annuities

What are it's benefits on the above?
1. You get to maintain your insurance policy with the medical plan while you're recovering from TPD/CI
2. a. If the policy does not cover for CI, having the waiver will help to maintain your life policy until the event of Death/TPD.
2. b. if the policy covers CI (depending if it accelerates the CI or not), the policy will continue to maintain it's benefits until Death/TPD/Multi CI
3. Your retirement plans is uninterrupted as the insurance company pays for you.


This is only applicable if the parent bought the policy for their child or husband/wife buying the policy for their spouse.

Thank you.

We are the insured ourselves also, and go through the same procedures as well.

This is just some sharing from handling claims over the years. And I believe this info will help a lot of readers here too.

is there a limit or just follow the annual medical limit the insured chose?
sounds not bad... something to compete with A.A

yes , use according to respective medical card limit.
-provided private hospital still got capacity
-provided during admission this campaign still on going

Hi,

Any insurance company having promotion for medical family package, with deductibles option?

Husband and wife Age 31.



This post has been edited by UnrequitedC: Aug 10 2021, 06:40 PM

Any kind of "promotion" will do or any specific kind of "promotion"?

Haha. No specific.

Just surveying if any better plan in the market based on my current need.

I think it would be helpful to spell out your current needs other than just a family plan with deductible option
For your needs may includes specific coverage amount, type of plans and other kinds of specific benefits that you need.
Just my 2 cents

hi UnrequitedC, not sure about other companies but Manulife has this additional 1 million annual limit on top of the medical card annual limit purchased. Flyer here. Not sure if this is considered a promo to you or not. You can have this medical family package. this plan got no deductible options but has co-insurance options.

This post has been edited by ckdenion: Aug 10 2021, 07:14 PM

Thanks for reminding.

Total Coverage for family >1M

up 100 years old.

Preferably with no-claim benefit.

Thanks