Generally that was how my agent shaped it lah the 2 years no claim thing

So whether there is or there is no such thing I was told so by my agent back then when I was still not yet a working adult and been carrying the 'fear' for the first 2 years

But good that you pointed out the details so now we know how this 'rule' works

This post has been edited by coolguy_0925: Jul 1 2023, 04:04 PM

Got business ownself walk in who not happy

Did you mean the family member's medical condition only discovered AFTER your declaration?

AFTER I think no need otherwise tak senang every now and then we need to disclose ha ha

But let's wait for the experts to confirm

Even if you have renewed but have not paid, so long as your transaction date is March 1, 2024, you will still need to cough up an extra 8% 2% in SST, prorated to the coverage period.

So confirm even my coverage is after 29 Feb and I paid today later on won't come and ask to cough up that 2%?

Just wondering if no dependant does life insurance still serve any purpose?

Yes can be one of it but I think I can leave some from other savings to fund this rather than depending on Life

Anyway you are right not to expect others to fund it even they are capable

Yet for my policy giving RM50k say.. and paid since 2005 don't think it is worth if stop now

Rather continue paying and give it to my bro if I don't have my family end of the day

Got another type

Your 'friend', 'ex classmates / school mate' etc.

Suddenly come to meet you for lunch and after few sessions suddenly hand you a pile of paper ask you slowly read

Then realised wanna sell you insurance

'Friend'...

When you mentioned UPGRADE and NOT buying a new plan

Do you mean like maintain the other riders but change only the rider you want to have higher coverage eg. medical?

Or, you mean just 'topup' the existing rider you wish to have higher coverage

---

Also.. just to share one expenrience, when I spoke to an agent of family member

Asked for higher deductible to reduce premium but die die promote new 'medical card' and kept saying 'smart' people know must jump because existing medical card left old people and keep claiming causing the premium revision so must jump to new plan with new pool

I only ask so few years down the road this so called new plan won't increase?

I believe fire insurance is mandatory to housing loan

For my case last time

Bank will charge the premium to loan account every year UNLESS I show them policy bought myself

Policy document was snail mailed to me after renewal every year, so it took a while to reach me

You may check from your online banking to see is there any misc charge or approach the Bank for clarification

This post has been edited by coolguy_0925: Jun 25 2024, 09:28 PM

+1 on the bolded part

Except this kutu scheme need to even make profit to sustain a huge number of headcount

IINM, you should be able to replace your CI rider in your existing policy without needing to buy a new policy

Thanks for highlighting this

Sounds like some insurance operator took the opportunity to milk their cash cows customers even more

I had the same questions as you alst time

As a Prudential customer I can tell you that there is no way for you to 'maintain' the same premium amount with same benefit

I asked before, simply cannot. Only way they give you the option to reduce your benefits and when you approach your agent for that the agent will try their best to 'siam' so as good as cannot lah, maybe if you insist by going to their branch counter it could be done. But like you said, already low coverage and with copay what else to downgrade rite?

GE they gave you the option to maintain all with shorter year of coverage

AFAIK and I checked with Prudential branch counter before

As long as you have sufficient cash value, no reason they can use to cancel your policy

So if you want to use that method must enfure time to time your cash value is sufficient

Like I mentioned there is no way for Prudential to maintain same premium, in epay they will 'up' the amount automatically

Change policy, for me, is like now or later. Yes you might get better benefit now but don't hope for lower premium as agents will 'siam' when you asked them to do that and you also know insurance cost also inflated already. And sooner or later the same premium hike will still hit your new policy.

I stopped paying and let my cash value pay the insurance charges after discussing with some of the forummers here (adele123 and some of the less 'profit-oriented' agents here, thx to them) Also when I was in Prudential office I asked the counter about it. Also I wrote an email to triple confirm as logn as cash value sufficient = policy inforce but you know la since e-mail involved B&W the reply wording also 'siam' here and there but basically yes cash value sufficient = policy inforce

Probably due to the bull market after COVID I don't see reduction in my cash value even after few years not paying my premium. And I keep an eye on my cash value by logging into the portal.

BUT, you will need to pay more later. Because if you look at the schedule when you get older the insurance charges will be very high so you need to take into consideration of this when deciding. Anyway from your earlier posts I guess you are already well aware of this. Basically, is pay now or pay later only.

This post has been edited by coolguy_0925: May 24 2025, 11:45 PM

The reason replying you earlier purely because someone helped me when I had the same doubt few years back

And I think I should do the same

On the investment part, I leave it to you to decide

Might not be fitting to exactly what you asked but I just share my experience here

My ILP was from like 20 years ago and it accumulates a sum of cash value and of course over the years kena few times repricing

So until one point I was like why I keep topping up the stash and every few years premium up due to repricing while the COI is still so low (understood is buffer for high COI for old days) and the ROI is not superb averaged out

So I asked a few here + the CS in their branch, as long as cash value enough then policy won't lapse. And I decided to stop paying since like 2022. So I let my cash value to feed my COI. Thankfully last year return was okay @ about 7% so cash value still about the same as 2022. This year so far very bad so should see the value slowly going down if next year ROI still bad

So now I can have slightly more liquidity on my cashflow (never have to pay premium) but of course I let the money generate dividend

And yes my provider only NOTIFY me on the premium up, no consent required. Letter has nothing regarding acceptance. Even I told CS I don't want up also can't. They only said can reduce your coverage which can never happen (agent will siam you when you told them come I want to meet to reduce benefit) which driven to my decision above

My other family member's provider yes need consent. Can accept proposed number, accept a lower number (key in yourself), or reject
If never respond in the portal the premium won't change

This one not to worry I monitor my cash value regularly, at the least annually (from the annual statement)

Premium were changing and I tell you la will still change

If they managed to made BNM let them this time, what is stopping them from repeating it in another few years

Afterall, now they already keep preaching claim amount is high whenever they have the chance

I will tahan until I really don't feel the policy is worth then I will just walk in and remove the medical rider

EDIT to add on your new points on sustainability: Yes, this one definately. Either topup to maintain the sustainability or keep it the same at the cost of coverage years. No usch thing as no price up but hope to keep the year of coverage since COI already up. Unless your investment ROI suddenly shoot up but you know the likelihood is low.

This post has been edited by coolguy_0925: Oct 30 2025, 10:20 PM