4 mil is abit high... but we dunno your circumastances. You yourself know better.

If got dependents and what not, really need to be higher. At the end of the days, it is how many months of living expenses of your loved ones this 1mil can cover.

But the counter argument of inflation being really bad is that you need to leave a bigger sum for your dependents to survive longer.

Of course if your asset cukup cover then ok la.

Can try cut to 2mil first. Then decide if that is sufficient.

I don't have dependents yet. And I paid off my house. Circumstances are not the same.

I prefer not look at how much paid (not that it's not important, I just think look at what I need first, then look at what I can pay). I look at what that 1mil or whatever mil will bring to the table.

The old fashion agents always use annual salary X 10 to determine how much life insurance coverage to have. Which I dunno if that make sense. I think it's good take monthly expenses as a benchmark. And how long you need to cover. Then other assets can be for discretionary spending or long term. Or for education fund. Etc.

I only have about 750k of individual life insurance for now. Only got spouse now but spouse earnings far exceed mine. So this 750k is more for my parents or spouse to drown sorrows, not to put food on the table.

If need to put food on table I would need to get more coverage...

Your sister is not wrong but you gotta calculate the chances of it happening.

More details needed. How long have you bought it for? Which company yoi got it from?

How tight is your budget? Reduce 50 per month, does it help?

Better to ask GE. It should be written in the letter.

But as I know, it's usually option 3.

I don't think your problem is an insurance problem. Sounds like overall personal finance problem. Talk to the agent or the insurance company, try to find avenues to reduce premium. But at 38 y/o the price seems around there. Look for other options to reduce the insurance premium. Does not need to outright cancel.

And luckily you have shared this information about your health. Your health condition will make it harder to get the same thing as what you have now.

At the end of the day, you are the one who need to weigh out your choices.

Maybe GE want to do it in this way to benefit customer more. I find it hard to believe as well but good for them for doing so.

I dont work for GE. So i dont benefit for saying good things about them.

All the insurance companies are the same. They of course have their claim guidelines. But if you have done nothing wrong, you have nothing to worry about. The regulators are they to keep the insurance company in check.

You will only find bad review... no one say thank you when the insurance company pay death claim within one week. After EPF, insurance is the fastest in paying money.

I can tell you this much.

1) impossible your insurance plan will have return better than EPF. If yes, maybe the insurance company gonna bankrupt or the agent lied to you. Or the staff all buy already...

2) insurance is meant as a financial risk management tool. You pay the insurance company a small sum of money. In return if a mishap happen, they pay you a bigger sum. Don't care whether die, accident, sick, car kena curi or house on fire, this concept still the same.

3) if you expecting to get alot of money back, more likely it is because you paid alot to into it to begin with.

Part of the reason your 1mil life portion is expensive because you only pay for 20 years. It is coverage for very long i suppose. Probably up to 100 based on what you have shared. I would usually prefer something to pay yearly. After all, at some point, once i stop working i wont need the 1mil coverage.

The more you prepay upfront, you just putting more money into the investment fund. As ramjade rightly complaint most of the time, the fund performance are pretty bad across all the insurance companies. So you are just prepaying for GE to earn more fund management charge every year and give you lousy return.

For life protection, it's more simple to compare. How much you pay vs how much coverage you intend to have. It's really difficult to say if traditional plan is better. You have to ask agent send you both to compare.

Market trend wise, ILP is more popular. Does not mean traditional plan is bad. Gotta see the price and if it fits your need.

As for your medical plan, just fyi, it's just projections based on current cost of insurance. Based on current trend, every 2 to 3 years, insurance company will reprice. It's a matter of when not if. The 310 wont stay until age 70. I can guarantee this.

As for the price for the CI or medical plan, there is no context on what is being covered and what is not. But seriously, best way is just get a quote from another company and compare apple to apple.

You sure they never send you in the last 8 years? Or you didnt check your notification properly in the past? Every 2 to 3 years is probably the trend. The more often they do it, the more gradual it will be. At least that's the hope.

The chances of life insurance increasing price is low. Depending on your product, maybe your product comes with t&c that says GE cant increase the charges. If yes, this is your peace of mind.

If no, this really depends on the actual experience of the insurance company. In theory people should be living longer, so you should be less affected by repricing for the life policy.

Conceptually, sort of correct. But simplified.

But the question is, what is your aim of doing this comparison? Dont get lost in all these numbers and what not, but what do you want. Cause i totally dont understand your question at the end of your things.

Why i say simplified? Your example oversimplify few things
1) you unlikely to keep the insurance plan for 10 years only. You are meant to keep it until you die
2) how you intend to use the balance 66.67? Opportunity cost not factored in.
3) most likely the rm200 wont stay static for 10 years if it has medical protection inside. But those who buy life + ci, then yes, may remain.

This post has been edited by adele123: Mar 29 2024, 01:53 PM

My mum has aia plan too but up to age 100. The premium i paid recently, at age 70 is 8.3k.

You probably dont have much alternative
1) you continue paying
2) you find alternative from aia or other companies
3) you fund for it yourself

2) for older parents, probably not much options. On paper, they can enter into buying a new one but in reality most likely they usually have some health conditions by then.

Alternatively, and something i have always advocate is you buy something with a high deductible. Say 10,000 for example. When your parents sick, you pay 10k (that's what deductible mean). Any expenses after 10k, is borne by insurance company. If you can afford 10k on your own then the premium will be cheaper.

This alternative will be better than option 3, which is funding it yourself. It's less damaging but yes you gotta fork out some money if something happens.

You buy online, choose a few major companies and compare.

Cheap no good. Good most likely not cheap.

I have bought berjaya, etiqa, generali in the past. But can look into even Great eastern, aig.

Is this an investment-linked policy?

if yes --> under normal circumstances, if you owned the policy for 10 years, you would have received repricing before. it is unlikely this is the 1st time they reprice or "naik harga". probably because previously you didnt increase premium in the past, the increase is more drastic now.

if you read your letter, maybe you can check if they explained how much the cost of insurance actually increase. then you know the actual cost increase... the rest is really because of what i have mentioned above.

What plan do you have with AIA now? How much is the coverage? How much are you paying now? You say 1.5mil annual limit? Is it called a-plus health, with room & board 200? How long have you bought it?

How much coverage will you get if you switch to medisavers? If you are considering to change, why not visit lonpac website directly and sought out other options?

Who is the person who recommended? Does he get a cut if you change?

This post has been edited by adele123: May 2 2024, 09:51 AM

Yup. You are focusing on how much you save per year. But what are you getting for paying that 275? Do you know? What other coverage attach to your IL policy?

Anyway, i admit budget is an important concern for many but what if i have a better option than medisavers that is about the same price? How would you feel? (Just giving general advice, you can sought out options but i am not agent, i can propose you anything). Anyway, is this medisecure same as medisavers? I can help provide more advice if i have more information. This medisecure having less benefit, naturally less cost to you as customer.

I wrote this somewhere to another person, i just copy paste again... i know i'm bombarding you with questions but buying insurance is not buying a tshirt.



Ok. Having said that, you "only" been in it for 2 years. Although 1st and 2nd year charges are the highest, you can still "take yourself" out i suppose. If year 5 or 6, i really strongly recommend think 3 to 4 times because i wrote what's up there.

It's tedious, it's alot of work, but it's worth putting the effort to find out why you pay 275 every month. Else you will come back again few years down the road, aiya, AIA still better, more panel hospital, i think i want to switch back to AIA. Then you end up enriching the pockets of agents or people who earn referral fee and does not benefit you and in fact, not benefitting the insurance company too.

This post has been edited by adele123: May 2 2024, 10:47 AM

The flavours are better if you choose to buy from agent. I suppose if you looked in AIA, you are also looking for takaful plan. If you google for A-Plus Health Flex-i, you will notice that there is this feature called health wallet. How it works is giving you something if you dont claim.

Generally NCD is not common in medical insurance. But it does exist.

If you really want to look into online, there is kaotim. This is by syarikat takaful malaysia.

If you really want to buy online, i think kaotim is more sincere in their offering. In the sense that they tried to give it more flavour than other companies. IMO. If you want to get from GE takaful, i suggest you browse their own website. Ringgitplus is and should not be the base for information.

Having said that please go do your own comparison. Since it's online, all information will be available for reading. Choose wisely. Fyi, many companies probably have medical plans online, just not something heavily promoted. If you go through every single company, they probably has it. Just to ensure i am not biasly promoting one over another.

However, if you do want to go through an agent, just drop your name at AIA website or something. Pretty sure someone will call you. It will most likely cost more than kaotim... nature of things are different.

You just have to clearly accept the pros and cons of having / not having an agent. It's ok but it is not for everyone.

Short answer: taking is somewhat beneficial. Even without the 10mil coverage you still get other benefits as well.

Long answer: your plan is going through medical revision, you will need to pay more premium when the anniversary hit anyway. You probably dont realise or havent receive the notification letter because havent hit anniversary yet.

Follow your current coverage. If currently until age 80, it will be until age 80 also. Just assume things remain the same except you got upgraded to newer version with more "bells and whistle".

I hope you are not surrendering old one and buy new one.

oh ya, 50k is really not enough if you have dependents.

i think life policies are too many for you to choose from. if you are very active within AIA vitality eco system might worth looking into AIA products.

A-Life Wealth Venture gives money every year if you hit gold/platinum. kinda value for money. but it starts at 2million... if you are young enough, might not be too expensive.

but if not, there will be too many to choose from be it via online or via an agent. just go for simplest, death/disability pay RMxxx enough.