AIA did offer upgrade to their existing customer. probably only if you are young and healthy. but yes, it's sad that the situation is as such. before you buy the one with annual limit 2mil, i would suggest you go back to the current insurance company (the one with annual limit 120k and 1.2mil lifetime limit) which i'm guessing is GE? go through the customer service. any option to increase annual limit and lifetime limit either by adding another medical plan or change to another plan. there is a chance you should not need to change plan. if you change plan, you pay commission again.

if your parents really is relying on you for survival if anything were to happen to you, then i think life insurance is fine. but keep in mind, you will have savings, EPF etc, so i think you better do the calculation proper. whether your parents need so much money or not. if you work in MNC, usually there is group term life coverage as well.

you can always buy that life insurance down the road once married with kids because maybe the amount you need is more. life insurance options are usually quite plenty, i would suggest you get 2 or 3 quotes for comparison. but probably need not rush to buy.

searching on the internet is anecdotal. people only complaint when they can't claim. no one say thank you when they manage to claim. the limitation of buying standalone is not much choices.

AIA, GE same same. they not gonna run away. unless one thinks what AIA offer is better than GE... and vice versa

I'm not GE agent... nor am i familiar with the shortform you are using. i'm assuming you are doing alteration of your existing plan.

1) The proportion of premium and top up premium you want to put is entirely up to you. if you allocate more to top up, actually you can ask GE if the total still need to be so high at 370 per month. i will be honest, the reason your premium is likely being suggested at that portion is because of higher commission to them. in the 1st few years. However, top up premium pays a perpetual commission to them although a much smaller amount.

2) you can maintain 200 for the time being. but it may not be to your advantage. quoting an extreme example, say your insurance charge is 600 per month, your premium is 200 per month. every year you deficit 4800 even if your cash value is example 10k. it's like gonna gone in a 2 years. it will be not ideal. but i'm quoting an extreme example. you can request the insurance company to run a quote for you, they should give you an estimation how long it will last. even that i feel, their projections can be too optimistic at times... just give yourself sufficient buffer, monitor closely, always read notification from the insurance company. you just dont want to be in a situation where the policy lapse and you are in the hospital.

But all things being considered, insurance companies do not want your policy to lapse, they will send a lot of notification to notify you of what's going on. but i wont cut it that close. i recall awhile back, in my previous post, i did say one can do all these in theory, monitor you account value constantly, only topping up when necessary.

But i will be honest i dont recommend this. NOT unless you are really tight on budget. just pay the amount as suggested for peace of mind. i know, you let the agent earn commission, and you let the insurance company earn 1.5% FMC. but in life it's really very hard to min max everything. if you want go ahead, but i wont. i have better things to do in my life.

if want to save on premium, just ask your agent for higher deductible. 1k 3k 5k go for it... it will stretch your money longer.

can read my post above


i really hope you be more "moderate" and really understand the context of what is going on when you post. IT's NOT BLACKMAIL. if you want to call it blackmail, you can write to BNM. BNM FORCE it upon the insurance companies to do this disclosure to customer.

i know your point of view. you want to best bang for the buck. and you educate others in the forum on this. i get it. go ahead. BUT YOU HAVE TO UNDERSTAND 99.9% of the consumers out there ARE NOT you. do i think they can learn from someone like you? YES. I agree they should be more aware and educated about the financial product that they pay RM200 or whatever per month.

Back to topic. topping up is yes, to the insurance companies advantage, but it is also for consumers convenience. at the end of the day, one thing is for sure, if the policy lapse, the insurance company and the consumer will be at a loss-loss situation. there is a choice. it's not blackmail if there's a choice.

who inform you? ask them refer Financial Services Act 2013 Schedule 8 paragraph 2.

if GE agent tell you, if got whatsapp, screenshot and send to GE, complaint them about their training to agent. if NOT agent, good. dont simply listen to hearsay...

This post has been edited by adele123: Jan 13 2024, 11:17 PM

My guess is probably almost impossible to get this data. An experience agent may be able to help. Maybe he keep track for his past customer. But on whole, should be difficult to get this data.

But the recent hike in price is unfortunately a rebound post covid. It's not comparable as you said. At the end of the day, i think safe to say one can assume 10% a year is a point to start since that is the quoted medical inflation.

In the past, pre covid at least, the plans with co-insurance will have better claims history and better repricing history. But i think as of the situation post covid, not sure what will help what wont.

Pyramid Scheme is a frauduluent thing. Many ppl pay, and very few gain. Hence the word pyramid. You cannot equate insurance to pyramid scheme. Insurance is about risk sharing and risk pooling. You just pay someone called the insurance company to help manage this pool.

I hope you get your facts right for Gathercare because you have been constantly promoting it. While I think it’s good to have alternatives especially cheaper ones, I think let’s be straight.
1) Gathercare does not state they are non-profit organization on their website.
2) Look at the management team or staff. Who are their staff? People with insurance or actuarial background.
3) One can try out gathercare but keep in mind a few things. What’s the sustainability? What’s the track record? What will happen to them 10 years down the road?
4) According to their website, they have 3000 people in this crowdfunding. Who are in these 3000 people? Insurance companies are dealing with customers in the numbers of 6 digit or even millions. The law of large number is I guess good enough for this case. That 3000 is nothing compared to the millions.
5) And the list goes on…

Ok. I take not that they are not for profit.

I am not questioning legit or not. I read their history, BNM has investigated them when they were life engineering. They are ok.

But the points i pointed out is applicable. Even if it's a legit business or NPO everything done correctly, there is no track record to prove it will sustain in the long run. There is a reason insurance company exist. And PIDM exist as well. And BNM ensures when companies merge, policy holders remain pretty much unaffected

Try fi.life also. Recently a friend bought from fi.life

Previously there is promo code from BFM. Not sure still got or not. Both this etiqa plan and fi.life will have increasing premium as you grow older.

I caveat, i am not expert on pru, but i know some surface information.

If you want to upgrade to prumillion med, you can go ahead. Ask for higher deductible option if possible. Rm500 if got. 1k better still...

As for the booster, i think you should evaluate the cost vs benefit. If i recall, alot of the benefits are very "fluff". The NCB rm500 got alot of restriction or something.

And you are paying more money to prudential, so you get rm500 back. To me, abit stupid la.

As for pruman, it is a standalone plan, that's why you cant upgrade per se. It's like changing house instead of upgrading your house.

At the end of the day the financial benefit on pruman, comes at cost. Which is not so cheap premium to you. There is no free lunch in this world. Money has to come from somewhere. Please dont looknat financial benefit from your insurance policy.

And your policy is since 2013, you would have paid off alot of initial charges. Please dont surrender and buy a new plan where possible. Especially pruman is probably not a replacement of your current plan.

This post has been edited by adele123: Jan 19 2024, 07:39 PM

Short answer: yes.

Long answer: if you want high ish return, you are looking for something like this

here

Or

more discussion here in 2023

Short answer: yes. Even if they accepted you with a condition, for example, something that my mother kena from another company, the other company knows. They have a list of codes to determine.

This post has been edited by adele123: Jan 21 2024, 10:04 AM

baca sini

according to this leaflet your scenario 2 is correct. after you add booster to your PVM, no lifetime limit on outpatient cancer / kidney treatment. for more info, why not reach out to prudential? i'm also just a bystander.

It's not a "given feature". It's usually an add on feature but highly depends on what you bought. So best you revisit your contract.

It is a common add on.


However if attached to an investment linked policy, there may be a situation where it does not fully waive your premium.

For example your premium is rm200 a month initially. Then this person kena ci and claim the waiver benefit.

So the insurance company pay rm200 for you. Now if your policy is attached with medical plan, which is likely for most people, you may have received notification on the repricing. For example, the company may say actually for the policy to be sustainable, rm280 per month is needed to be paid.

Given this scenario, the policy holder has to pay rm80 per month, but the insurance company will continue to subsidise rm200 per month.

Yes, everyone does it. Because everyone need to make money.

As to who increase the least, you probably wont get the answer. Unless you are the one at bank negara approving the medical insurance price increase.

Pre covid, what i do know is, co-insurance does help control claims hence insurance companies do reprice them less.

I have said this many times, post covid, the claims have been just horrible. Coupled with the post covid inflation. Things are just expensive.

What worked in the past may not work in future.

However, bank negara does have initiative to encourage/force insurance company to not offer medical plans without deductible/co insurance via new guideline. Minimum intended by BNM is RM500 or 5%. Something like that.

I guess for now BNM also think this may help. But long term... who knows?

There are enough consumer complaining that there was a slight slow down in repricing during 2020. I think BNM ask to slow down / halt then. Especially when alot of ppl having their job affected, etc...

But 2022 onwards back to normal... but i was reading about BNM blueprint 2022-2026, medical insurance is one of the key issues highlighted related to insurance industry.

i am not aware of any, but does not mean there is not... however, given the old age, >70, very unlikely they can't even enter into one that covers accidental injury. i found something from etiqa, even that they only let those 70 or younger to buy and they cover up to age 70, contoh below, although your parents are not eligible

etiqa via maybank

the one here is not recommended by me because you essentially just get death coverage. it does not have the medical coverage caused by accident.

this is NOT true. even for medical insurance, give parents over 70-year old, they are not eligible to buy now. accident insurance also can get in malaysia. dont need to go to singapore.

Please dont do that. that's not a buying decision i support. it's NOT advisable to surrender your current policy and buy a new one. you already paid alot of initial charges in your previous policy.

what plan do you have now? i have said this many many times, go back to your existing policy if it's an ILP, ask for changing your current medical rider to a new one if you dont have too much long-term health problem.

can you roughly let me know what's your current policy like? standalone or ILP? and medical coverage on room&board amount and annual limit? do you have other important riders like critical illness?

This post has been edited by adele123: Feb 3 2024, 07:41 AM

want to correct this statement abit... 99% CI premium wont be guarantee.

while there has not been repricing on CI, no one has dared to make it guarantee.

I think i wrote abit too much typo in my previous post. I wanted to say given they are >70 unlikely can enter to any. And etiqa covering until 75 only.

Msig open until age 75. That is a good start.

Pru senior med maximum is age 70 to enter. Sadly. As for your question kinda moot...

My point is your parents are older than 70. Since they cant buy so i didnt bother answering whether they can claim or not.

My guess only. The insurance company will pay to all. Foreigners can buy insurance policy too, in case people forget. The key thing is the ability to proof your identity...

But i worry aia will have alot of charges when banking into the australia bank account... just a guess...

This is a public forum. Comments without statistics backing or hearsay or anecdotal are really not facts.

Regulators are there to protect consumers interest.

I have said many times, it takes more effort to deny claims than to approve claims. If it's rightfully yours, they won't simply reject.

It is in YOUR INTEREST that insurance companies don't simply pay claims too. Because if you were honest, you want the insurance companies to weed out the dishonest people. Else do you want to be paying higher premium because some people didn't disclose thier diabetes?

This post has been edited by adele123: Feb 12 2024, 10:00 AM

here

Download the brochure. Scroll to the end of the brochure, click their faq. Inside the faq got premium rates. You can cross verify with the number from your agent.

I dunno the detailed process... i could be wrong... most people masuk hospital with GL nowadays anyway.

Roughly the idea is the insurance company should tell you what they cover, what they dont when they discharged via GL. You should have an invoice and receipt of the 3000 that you paid to the hospital.

From there you should be able to claim 3000 on the other policy.

Most insurance policies are designed from the same template. While years has passed, there are some changes but the basis still similar. Most of them do not cover GP visits pre and post.

But in theory, if policy A dont cover but policy B cover, you can show to policy B that you were hospitalised in you visited GP before that. But this is too theory base as 99% dont cover GP.

GP visits are via employee benefit usually.