Thanks lifebalance. I will just discontinue mine then.

i had the same exact issue with you also and am told that i need the beneficiary signature to close the policy. i waited till the due date and refused to pay, it will automatically lapse and pay you back.

Your option only on takaful ? Or you are open for both conventional and takaful.

Hi sifus, i am currently not on any insurance policy

I am wondering whether anyone can gave advice on what type of insurance is worth it and necessary and what type to avoid

Whether i should buy fron insurance agent or maybe online type

Tq all

Insurance mainly divided into life insurance (payout when u died), medical insurance (hospital admissions).

What does "worth" means to u?
Are u worried u cant afford hospital bills? Or worried what will your dependant need after u are gone?

If u buy online u may not understand what u really need or what u are paying for. And also wont get dedicated person to help/advise u how to submit claims.
Buy thru agent u can ask anything until u satisfied. And they will help u submit claims (although mostly will vanish so u have ro choose right agent)

p/s: im not agent

This post has been edited by WaCKy-Angel: May 19 2022, 10:09 PM

Is it worthed it to buy medical insurance for hospital in case of anything or just put money into stock and let it earn then take out if needed

Insurance is about risk transfer.

U wont know if u kena cancer next year or get into accident. So the question is u want to take the risk or pass the risk to insurance by paying minimal fee?

Last time i bought and cancelled life insurance and medical card atleast twice (due to financial issues) thinking im young and healthy. Luckily nothing happened to me.

2 years ago i had stones and admitted for surgery. I didnt have medical card then. Luckily i have medical card from company but the limit was low. So i hard to fork out some money myself.
I take it as i "paid" few years insurance.

You want advise then get from agents otherwise if you want no advise buy it yourself online.

What to buy? Seek an advisor, they are remunerated to advise you what to buy.

It doesn't work that way.

It's funny how you're trying to beat the law enacted by Bank Negara. These safe guards are meant to be bullet proof guidelines. I'll be very interested if you have ways to bypass a trustee signature other than forging the signature.

Does it only applies for beneficiaries that is above legal age? Below legal age no need approval?

hi pmaxv, if there is still a chance that you will come back and reside in Malaysia, I will say it is best you keep it first. Unless you are very sure that you are staying overseas for good and will never come back anymore.

hi henry, btw what is the relation of the nominee to you?

you can check out fi.life if you are looking into buying online direct. can also check out from AXA too.

hi ExCrIpT, when policy is lapse, means there is nothing left in the policy to give back.

I think it should have some residual cash balance, but amount wont be more than the annual premium.

Actually, all the companies have it. But i doubt they promote it. So when you go their website, it takes awhile to find it.

It should say online/direct.

This is not a financial advise and certainly from some random person on forum but i myself bought etiqa. But it has its own pros and cons. Please read properly. I'm ok with the pros and cons so i bought 500k.

Thanks i will check with etiqa then and compare.

These are some of the direct online purchase sites without going thru agent.
https://etiqa.com.my/v2/life-insurance-family-takaful
https://prudirect.prudential.com.my/prudire...hase/landing.do
https://econnect-my.greateasternlife.com/ec...-prod-catalogue


Some of the key terms that need to take note is guaranteed or non guaranteed insurance charges.
Level or step up premium. [ many non technical customer always miss out this part and only complain later on when payment spike up ]
Cover life only or both life + TPD.
Other hidden terms and condition.

p/s : Life insurance online product vs agent product is very different. It could never be the same.
Policy servicing / endorsement also works differently.


This post has been edited by ping325: May 20 2022, 11:01 AM

my Premium per year is around 800++, been paying for more than 20 years. i got back 10k

This post has been edited by ExCrIpT: May 20 2022, 05:54 PM

dont know dont' care, i was in the same predicament where i have personal issues with the beneficiary and i was told i will need the beneficiary's signature to cancel the policy and i did it my way and i got what i wanted.

good for you

Do not buy from bank insurance agent
They will push products for commission
The coverage is small amount and all are insurance link investment

No.

Buy the medical insurance.