Just to provide advice to customer who needs it.

This post has been edited by Ewa Wa: Nov 3 2021, 03:37 PM

Am I right to believe that this policy will Pay the Higher of :
A)Face Value
OR
B)Surrender Value

How does Converting into Fully Paid-up or Extended Term-Life work ?


Thanks


Attached thumbnail(s)

hmmm how come i can't open?

try my best to explain Fully Paid up vs Extended Term-Life

Full Paid up means, if you stop paying now, what coverage amount will you enjoy until age 100 (if your original is also age 100)

so if your coverage now is RM100k, depending on the factor applicable, if you paid up now, maybe is RM40,000 until age 100

Extended Term Life means, if you stop paying now, how long will the RM100k last (instead of age 100), maybe until age 50.

Agak-agak ya. need to read the policy. i forgot where is mine, i also buy similar plan but different company

note that after any of these 2 action, no more frill benefits. just death/TPD coverage.

1 last question.

If I were to surrender my policy, is the interest:
A) Paid Annually on Policy Anniversary Date
OR
B) Calculated from the last Policy Anniversary Date till current day

Thanks

Hi, my mother medical card recently price hike from rm248 to rm404 . Age 61. Coverage 100k and room and board rm150. Any advise to cancel and find a new policy? The price hike seems too much while the coverage unchanged.
Policy bought year 2016. Never claim before and no long term illness etc.

This post has been edited by Deathscythe@@: Nov 4 2021, 07:01 PM

Advise you to perform endorsement to your policy whether to decrease , maintain or upgrade policy.

Not advisable to cancel and purchase new due to the waiting period and also by purchase new, it’s gonna be costing more. You can try to ask agent to quote and compare with your existing policy if you still want to know the price differences thou.

This post has been edited by ping325: Nov 4 2021, 07:23 PM

2016 monthly was rm200++ now rm400++..

Annual limit 100k
Lifetime limit : n/a
Kidney and outpatient : 250k lifetime limit.

I just checked back my mum policy. Seems price hike a lot. Not investment plan. Aia 150 I plan.

If it's a standalone medical card you can refer to the policy for their premium table and estimate for future premium.

Best,
Jiansheng

Are you able to pay first rm5000 or rm10000 on your own if your mother needs to use the medical card? If yes, buying medical plan with deductible will be helpful in reducing insurance cost.

I wanted to buy lonpac for my mother but my mother age >65 already. Was not successful.

Once hit >60, really not easy to swallow the insurance cost.

Buying plans with coinsurance and deductible will help slightly. Do it when your mother still young. Buy first, dont cancel so fast. Later kena reject, very sakit.

Is not easy to advise you on the matter.

On one hand the increased premium is taxing and yet no increase in coverage. Then the coverage is low and in my opinion not sure is able to cover for today and future medical cost.

The worst part to come is when someone is admitted and the bill exceeded coverage and still rising .... is indirectly a false hope that one is actually 'protected'.

Is no problem if the family can settle the difference. What 'IF' cannot ?

Some may disagree ... have some better than nothing but will it solve the problem 'IF'.

When coverage is low, always check estimated medical cost b4 admission.

This post has been edited by mini orchard: Nov 5 2021, 08:23 AM

Well there are options for lower premium.

For example, RM300 monthly budget could get you about 1 mil coverage for your mom with no deductible/co-insurance.

Then again, people would tell you - change policy later got issue - etc etc.

Mind you, you're paying the premium and not the agent so they may not feel that pinch of paying the money as they are not in your financial situation. If you think moving to another insurer can save you some cost over the long term, it's definitely worthwhile to switch while your mom is still healthy.

However, if she is already having any sort of illnesses, you'll just have to stick to your current plan and pay whatever that is coming your way as she'll less likely be able to apply for any health insurance without any risk of exclusion, loading or rejection.

It pays the sum insured + dividends + terminal dividends.

To convert to ETI, you can head up to the servicing branch and fill up the form.
Based on your dividends available, the policy will be reduced to only cover for Life up to x amount of years.

Since covid , repricing keeps on happening regardless whether it is investment plan / standalone.
You have to plan ahead whether to maintain / switch plan.

My mum also 62 years old already
Some tips from my past experience :
1. Insurance charges for senior citizen > 60 is very expensive,if you want cheaper can choose deductible / co-insurance
2. New purchase for >60 always need to undergo strict Medical Examination / ECG test, therefore purchase during early age is important.
3. They might not be able to fully utilise the limit given , because most of the cancer treatment / surgery are not recommend for senior citizen.
* A real case scenario where cancer strike my wife parent & he refuse to go for chemotherapy due to the suffer & pain. He rather spend his last moment peacefully with his family.
4. Some of them give up medical insurance plan and used the money for insurance legacy plan instead to pass on the money to their child.

*Most important is plan wisely & also understand your mum requirements / needs.

This post has been edited by ping325: Nov 5 2021, 11:59 AM

Medical insurance premium goes up together with age and inflation.

There is no medical insurance with fixed premium.

The risk of cancel and find new one : subjected to waiting period and pre-existing illness condition that may not be covered.

If you were to surrender your policy now, then whatever dividends reflected is what's paid out.

If "now" is before dividends are declared, then you are not entitled to the dividends declared post-surrender.

Any good reconmendation for medical insurance? Alrdy age 44 now n reliazeisnit it late to buy insurance now. Monthly Premium between 200-300 will be good. Any suggestion?

Still possible with the given budget.

Can't go wrong with the mainstream brands

Sorry, if you don't mind, can you list such brands? I've been told that its better to approach an agent for this, but I genuinely have been living under a rock and don't really know anything about insurance, I've only heard about the brand Great Eastern and Prudential, but often looking up these brands I get quite a handful of negative news and stories.

I understand that Insurance can be quite personal and nobody wants to be that guy who suggested a policy that couldn't pay out 30 years later for whatever reason, but I will appreciate some brand recommendation so I can start talking to them given the chance?

hi Hoshiyuu, you will definitely hear negative from almost every insurance companies. Maybe more on companies that are bigger like the ones you mentioned because their customer base is bigger. but rest assured that all this negative news and stories that you come across have reasons behind and most importantly you need to deal with agents that are helpful enough to help you go through everything especially on the claims (i believed you heard negative stuff from claims mostly). should you face any problems in that area, just come back here. there are several here willing to help

Negative news shouldn't be the main concern. Every brand/company faces it, but I don't believe one person's issue could affect the other 99.99% of the policyholder who doesn't encounter a problem with their policy.

I'd say beside brand itself, the agent that you engage should be able to assist you with the claims / providing you the sound advise as well.

Mainstream brands like GE, AIA, Pru, Allianz, HLA