Depending on how comprehensive you want the insurance plan to be.

Options available as below
1. Term Insurance - solely just medical benefits - Normally ranges 500 - 2.5k yearly depending on the benefit you're looking for.
2. Investment-Linked Plans - you'll get to include medical benefit and others such as Critical Illness, Total Permanent Disability, Personal Accident, Death etc; Premium starts around 2k annually.

This post has been edited by lifebalance: May 6 2021, 07:23 PM

Having done 5 surgeries, it depends on what you did back then and how it'll impact your life moving forward. All these will be assessed by the insurance company before they can grant you the new medical card benefits with/without exclusions or loading should you choose to upgrade.

When you're already 70+, you can't really apply for anymore insurance *but* there are a few exceptions.

From the look of it, he has some Life & CI coverage. I'd suggest to keep them since he's out of option to get new ones at a cheaper rate.

Those whatsoever awards are within their own insurance company. You may call the insurance company to verify their claims.

However, what can all these award prove to you?

It just shows a person did a lot of insurance business for that period of time but will not show whether its an ethical person in their business conduct or whether this person would stay long in the business.

Honestly you can't evaluate, just like the first time you go to a car showroom to test drive the car, how would you like the salesperson to respond to you?
1. Serve you drink
2. Ask you what type of car are you looking for
3. Ask relevant questions like you driving just by yourself or for family
4. Find the suitable car that fits your criteria
5. Let you test drive
6. Deliver your car, make sure everything is okay

If you want to find out how you'll be treated by this agent. Get them to do a full presentation and see if you like the experience or not.

If judging by just award alone, nowadays insurance companies simply show posters and award for even 1k to 10k sales. How is that relevant? I would have a cupboard full of awards by now if I keep all these 😅.

Yes it's covered for all COVID medical expenses.

about 161k vs 99k

it'll be cheaper to upgrade on the existing plan.

Bad agent / Good agent talk
1. Your agent want to earn an entire new block of 6 years commission since your policy is bought since 2013 - no more commission already. By upgrading, the agent won't be able to earn as much.
2. It will be considered as a new case for his business
3. Reason for you to maintain your policy for 1 year is because of "Replacement of Policy" whereby if you cancel your existing policy within the same year, the new policy which was sold; the commission will be clawed back as it's considered replacing an existing policy.
4. You're paying 2x the premium by maintaining 2 policy for 1 year - at your cost for your agent's pleasure

All the best

Meanwhile kimhoong; this is a good example of so many award won by the agent but agent can do such "ethical" thing for sales, do you think award still matters nowadays when agent flash it to you?

Hi OrdernPay,

There are many types of life insurance out there ... but I'll keep it simple for you in here on how you can structure the mortgage insurance.

1. Determine your tenure of coverage -
a) Do you want to cover until the age of 70 ?
b) or based on the loan tenure ?
c) or shorter than the loan tenure ?

2. Life insurance is designed to provide the lump sum payout that you've taken up. So in this step, determine how much you want to cover for the loan you took with the bank.
Example: If your loan is RM500,000 then you might want to cover based on that amount.

3. Cash value upon Maturity



There are policies out there whereby if you do hold the policy until maturity, it will grant you extra maturity bonuses which maybe a plus point for you as you can use it as part of your retirement money after paying all those years.

4. The premium for 500k coverage starts from 150 - 300 monthly

You're eligible to buy as long as you're below Age 70.

Ask the agent that you're applying with. Diff company diff policy.

You can mention that you had dengue in the past 2 years.

Uhm, the instruction in c) is already quite clear, your nominee should be your spouse/child, if you don't have spouse/child then it'll be your parents.

You'll have to declare and let the underwriter to determine the risk.

If you applied your insurance after such event had happened, the insurance company may use it against you as non-disclosure.

However, if the event had happened after you've applied for your insurance, then you don't have to re-declare to the insurance company.

Where the nominee is not the policy owner’s spouse or child or parent (if there is living spouse or child at the time of nomination), the nominee will receive the policy moneys only as an executor and shall distribute it according to the will, or if there is no will, the applicable laws of distribution. In such a case, the policy is called a non-trust policy. The policy moneys form part of the deceased’s estate and are subjected to his debts.

For example, if you nominate your brother, he will receive the policy moneys as an executor. The policy moneys will then form part of your estate and your brother would be bound to distribute the policy moneys accordingly, including to your creditors, if any. If there is a surviving spouse, child, or parent, and there is no will, then according to the Distribution Act 1958, the brother will not inherit any part of the estate.

why is the agent you're engaging not explaining it to you?

you're welcome

1. There will be a new waiting period of 120 days, I believe what you have is Excel Care.

2. Not likely.

I don't know what's the purpose of your agent doing so. What's the justification?

Why not just add on with the current PruWithYou since it's already there, you're just topping up for the 160 CI no?

Just remove the 36CI from the old policy.

When you add-on something, do you possibly think it'll be at no-extra-cost? An Early/Multi CI coverage cost of insurance will be more expensive than the normal end-stage CI. You'll probably sacrifice your term of coverage to a shorter tenure but your agent context to tell you is "at no extra cost" - is somewhat half true.

Then as I've mentioned, if you don't wish to cancel your old policy but at the same time you'd like to enhance the coverage of your CI.

Best for you to upgrade on the existing PruWithYou and see how much additional you'll need to pay.

This is a repackaged A Life Wealth Builder. Essentially PB is partnered with AIA to sell their insurance under the bank.

Again, it goes back to what are you looking to cover and what makes you thought about this.