Welcome Guest ( Log In | Register )

Bump Topic Add Reply RSS Feed
32 Pages « < 10 11 12 13 14 > » Bottom

Outline · [ Standard ] · Linear+

 Insurance Talk V7!, Your one stop Insurance Discussion

views
     
Ramjade
post Sep 4 2023, 06:46 PM

20k VIP Club
*********
All Stars
24,347 posts

Joined: Feb 2011
QUOTE(x3Kai @ Sep 4 2023, 04:39 PM)
Hey all,

I'm turning 30 at the end of this year and I was told that this is one of the crucial age for insurance premium increase (i.e. getting an insurance after 30 would result in higher premiums, etc.). Is this true?

As a 29 year old, non-smoker, no previous health complication, I currently do not hold any insurance policy in Malaysia other a corporate GE Medical Card. I also have an investment linked Endowment Policy in China that I got there when I was studying there. Before I left China to come back to Malaysia, I assured that the policy no longer require premiums to be paid but I would be going to double check again before end of this year.

As I'm looking for a career change, it seems like the best time to look into medical cards as many have advised to own your personal medical instead of solely relying on corporate coverage.

Recently I just sat down with a friend who's with GE agency and got to know that GE is doing a promotion for their SmartMedic Shield to Double their Annual Limit. From what I understand, this is a rider for a basic ILP product. The selling point is that the cheapest rider have an annual limit of 6 million, which that friend boast that its uncontested in the industry. What are the thoughts on this product? I was quoted RM2,500 a year for RM12,000 basic life insurance and their cheapest medical card rider (RM150 R&B I think). And RM3,000 for an additional coverage for Critical Illness of RM100,000. 

With insurance company funds generally underperforming, I'm also an advocate for separating my insurance from investment. Anyone with GE mind sharing their experience with the frequency of premium increases? Also the increased annual limit promotion seems to only be for their rider medical card, not standalone medical card, are there any generally recommended alternatives? I see some recommending MediSavers and Gathercare and will be looking further into those.

Also any thoughts on DearTime? It seems cheap at first due to no investment link, but there's nothing to compare to as I can't seem to find any publicly information on premium calculation. Looking to also get perhaps some basic life insurance / critical illness plans if the premiums are affordable enough, any recommended provider that I should be paying extra attention to?
*
All medical insurance will increase with age. Whether you get at 30 0r 35, you will pay higher premium. Eg. At if you get at age 30, you pay RM1000, 1200, 1300, 1400, 1500, 1600. If you get at 35, you pay RM1600 you don't pay the other premium cause you got them at 35.

There is no such thing as no need to pay premium unless it's some savings plan where you pay for 5-10 years and then no need to pay. Yes such plan exist. Don't get tempted by 6m coverage. Why? You pay for it in terms of higher premium. Choose the coverage you think is just nice.

Are you ready for the following from GE when you want to claim?
1. Saw in the news they denied someone with cancer stage 4 just because the person did not disclose anxiety
2. My friends in private hospitals tell me GE is one of insurance which ask lots of questions trying to delay your admission as much as possible. Don't get me wrong, they do payout and give GL but they try to ask lots of questions to have reason to decline your admission Vs other insurance company.

If yes by all means, go ahead. I was with GE. When I heard about the 2 stuff, I exercise my cooling period and get full refund from GE. I am not taking my chance with GE with that kind of reputation. I don't need agent sweet talk. I need real life experience.

If you do your research, people here complain GE increase premium every 2-3 years even though it's ILP.

Deartime is designed for B40. If you are ok with RM100K+ coverage by all means go ahead. If they up their coverage would be good. Otherwise, I will just avoid as I want min RM1m coverage. Gathercare is the cheapest of them all as there is no increase in premium and no agent. It's good as backup but not sure if it's suitable as main insurance. Medisavers is the cheapest standalone medical insurance (for coverage until 80 years old)

When you buy insurance you want to ask yourself the following questions
1. Do you want standalone or ILP?
2. What are the pros and cons of ILP and standalone?
3. What coverage do you want?
4. Do not listen to agents or friends who are agents as they are only after your money. Do your own research. Agents will always want you to buy the highest coverage cause they get higher commission from that. There's no free lunch insurance.
5. How long do you want to cover?
6. How much deductible you want? The higher the deductible, the cheaper the premium and vice versa.
7. Does the company have issue paying a claim or issue GL? Pay attention to insurance company reputation. that will be there to cover you when you need it and not aks tonnes of question to try denying you the GL or claim

If you are looking for standalone medical insurance ,there are 4 with RM1m+ coversge
1. Aia mediflex with rider
2. GE Great medic shield with rider
3. Generali smartcare optimum plus can be bough via fi.life
4. Medisavers.

I am not an agent, just someone who did 6 months on research on medical insurance to buy for myself.

This post has been edited by Ramjade: Sep 5 2023, 09:21 AM
Ramjade
post Sep 5 2023, 09:44 AM

20k VIP Club
*********
All Stars
24,347 posts

Joined: Feb 2011
QUOTE(btslee @ Sep 5 2023, 12:41 AM)
Premium vs age of coverage dilemma. Till what age ‘should’ the coverage be till? 70? 80? 100?

Raw thoughts: Life expectancy is potentially and possibly going to be 80-100 years old. Currently 32yo male, non-smoker, office desk job.

Should i pay a slightly higher premium to cover till 80? Or an even higher premium to cover till 100? Understand that we should review insurance policies every 5 years but also, in my pov, insurance policies are gonna get more expensive, albeit with benefits such as higher annual limits.

Welcome and appreciate inputs, thanks.

Plan in consideration:

A-L*feLink 2
with riders:
A+ health plan 200 with RM300 deductible
A+ recover
A+ hospital income extra (50 or 100?) to offset deductible
A+ waiver extra
*
Your choice. I am not you and you are not me. For me I cover medical insurance until 80 years old. Cause after 80 just use govt. You are already half dead by then. Unless you are mahathir or some tycoon where you don't want to die. Haha...

For critical illness, I will cover until 60-65. Why? The longer the coverage you choose the more expensive it is. Critical illness is to cover you incase you lose your job. Are you working at 70-80 years old? If you got any of the illness, your kids will benefit. Remember insurance is a lottery you don't want to get.

I will tell you something, all rider you add will increase your premium and decrease your sustainability unless you up the premium. There is no free lunch in insurance.

Do you really need the extra income while you are in the hospital? Say 50-100 and are you ok to pay more premium for something that you don't need? You can save on premium abd generate your own income while being hospitalised. How? Just throw the saved premium into a MMF where you can withdraw the money anytime you like with more or less FD interest.

Keep in mind, the a+ waiver extra will only kick in if you fulfilled the definition of the disease. A good example given to me by my agent, her client got heart attack with 67% blockage in the artery. Waiver did not kick in cause need to be 70% or more.

For me I learn early on. Buy what you need. All agents will tell you oh this addition is good. That addition is good. Of course good ma. It's nice to have. Do you really need it? Are they paying for your plan? Nope. In fact you are paying them that is why they said everything is good. Remember no free lunch in insurance. Yes you can have all that but unless you set your premium to around >4k per year your insurance cannot even reach 80 years old. How did I know? I was there. I add everything inside cause "nice to have ma". Then I saw sustainability cannot reach 80 years old. I was let us remove everything and focus on medical only. Even with premium of around RM3-3.6k it can barely touch 80 years old. If you got extra money and don't mind paying your agent or the insurance company more money, by all means go ahead.

Also something to take note, are you ready for your ILP to unexpectedly increase your premium every say 2-5 years? Are you ready to do a top-up lump sum of insurance around 40-50 years so that your insurance can sustain you? Yes need topup or else cannot sustain. Many agent will "conveniently" leave this part out. For me I am not going to top-up extra nor do I want the unexpected increase.

Shop around never get your source from one agent. You can even contact the company and speak to 2-5 agent for the same product. If the agent don't let you play around with his or her iPad when doing quotation for you, find another one.

This post has been edited by Ramjade: Sep 5 2023, 10:49 AM
Ramjade
post Sep 5 2023, 10:59 AM

20k VIP Club
*********
All Stars
24,347 posts

Joined: Feb 2011
QUOTE(poweredbydiscuz @ Sep 5 2023, 10:52 AM)
Wanna ask a typical critical illness insurance does not have death benefit right? Eg if the policy states that must survive 30 days to be eligible for claim, and the person dies at day 29, he and the beneficiary will receive nothing right?
*
Some critical illness come bundle with death benefit. Don't la look for 30 days survivability. Look for those 14-15 days survival period.

If your insurance does not have death benefit, then yeah nothing.
Ramjade
post Sep 5 2023, 03:28 PM

20k VIP Club
*********
All Stars
24,347 posts

Joined: Feb 2011
QUOTE(poweredbydiscuz @ Sep 5 2023, 12:27 PM)
"Pretty standard" means got bundle or no bundle with death benefit?
*
Usually bundle say Rm100k critical illness coverage and say RM5k death benefits.

But again go back to your plan. I don't have access to your plan. Only you yourself got access. So read it again.

If you haven't buy, then look for one with fixed premium, up to you if you want to take early critical illness. Early critical illness is always more expensive than the traditional 36 critical illness. Then look for the one with 14-15 days survivability period.

This post has been edited by Ramjade: Sep 5 2023, 03:32 PM
Ramjade
post Sep 15 2023, 12:20 AM

20k VIP Club
*********
All Stars
24,347 posts

Joined: Feb 2011
QUOTE(chinkw1 @ Sep 14 2023, 11:39 PM)
Which insurance company is famous for medical card/insurance now?

Outpatient, hospitalisation, surgery...

Heard AIA, Manulife, Prudential quite good.

Comments pls.
*
Here's my post on it.
QUOTE(Ramjade @ Sep 4 2023, 06:46 PM)
All medical insurance will increase with age. Whether you get at 30 0r 35, you will pay higher premium. Eg. At if you get at age 30, you pay RM1000, 1200, 1300, 1400, 1500, 1600. If you get at 35, you pay RM1600 you don't pay the other premium cause you got them at 35.

There is no such thing as no need to pay premium unless it's some savings plan where you pay for 5-10 years and then no need to pay. Yes such plan exist. Don't get tempted by 6m coverage. Why? You pay for it in terms of higher premium. Choose the coverage you think is just nice.

Are you ready for the following from GE when you want to claim?
1. Saw in the news they denied someone with cancer stage 4 just because the person did not disclose anxiety
2. My friends in private hospitals tell me GE is one of insurance which ask lots of questions trying to delay your admission as much as possible. Don't get me wrong, they do payout and give GL but they try to ask lots of questions to have reason to decline your admission Vs other insurance company.

If yes by all means, go ahead. I was with GE. When I heard about the 2 stuff, I exercise my cooling period and get full refund from GE. I am not taking my chance with GE with that kind of reputation. I don't need agent sweet talk. I need real life experience.

If you do your research, people here complain GE increase premium every 2-3 years even though it's ILP.

Deartime is designed for B40. If you are ok with RM100K+ coverage by all means go ahead. If they up their coverage would be good. Otherwise, I will just avoid as I want min RM1m coverage. Gathercare is the cheapest of them all as there is no increase in premium and no agent. It's good as backup but not sure if it's suitable as main insurance. Medisavers is the cheapest standalone medical insurance (for coverage until 80 years old)

When you buy insurance you want to ask yourself the following questions
1. Do you want standalone or ILP?
2. What are the pros and cons of ILP and standalone?
3. What coverage do you want?
4. Do not listen to agents or friends who are agents as they are only after your money. Do your own research. Agents will always want you to buy the highest coverage cause they get higher commission from that. There's no free lunch insurance.
5. How long do you want to cover?
6. How much deductible you want? The higher the deductible, the cheaper the premium and vice versa.
7. Does the company have issue paying a claim or issue GL? Pay attention to insurance company reputation. that will be there to cover you when you need it and not aks tonnes of question to try denying you the GL or claim

If you are looking for standalone medical insurance ,there are 4 with RM1m+ coversg
1. Aia mediflex with rider
2. GE Great medic shield with rider
3. Generali smartcare optimum plus can be bough via fi.life
4. Medisavers the cheapest of them all if you want to take until 80 years old (in terms of total premium paid until 80 years old)

I am not an agent, just someone who did 6 months on research on medical insurance to buy for myself.
*
Hope the above help. I wrote some more few pages back. I am not an ILP advocate hence if people ask me, I will always say go standalone. ILP have lots of unwanted baggage.

There's no standalone for prudential. I heard there is Islamic standalone for prudential BSN, but not so sure.

Keep in mind most insurance don't cover outpatient treatment. So if you want to use the insurance get yourself admitted devil.gif unless your company covers outpatient insurance. They do cover for outpatient followup from 60-180 days depending on plan (means get admitted and subsequent followup up to the limit of days are covered). After that not covered anymore.

There is only one outpatient insurance in Malaysia.
https://www.generali.com.my/medical-health/...medi-outpatient
Ramjade
post Sep 15 2023, 10:59 AM

20k VIP Club
*********
All Stars
24,347 posts

Joined: Feb 2011
QUOTE(Rinth @ Sep 15 2023, 09:24 AM)
Quick illsutration :-

Age 65, planning to buy medical cards for whatsoever reason.

2 plans, same coverage RM 500k annual limit Unlimited lifetime except Plan A no life insurance portion, Plan B RM 100k life insurance, Sustainable duration is Age 80 (means the policy end on age 80 right?)

Premium RM 6xx per month for Plan A, RM 9xx for Plan B.

Can anyone analyse on :-

1) This is ILP or standalone?
2) is there any differences if taking ILP or standalone plan? I previously heard standalone life insurance covers untill age 70 or 80 only, but with ILP can cover longer untill example 90 yo.
3) differences RM 3xx per month premium worth it or not for additional RM 100k life insurance?

My own analysis :-

1) should be ILP, so maybe will ask standalone price
2) NOt sure
3)not worth it, due to 15 years policy only and the additional RM 300 per month x 12 x 15 = RM 54k already. Arguable that there will be cash value during end of tenure but not sure whether it'll worth RM 54k or not. Only benefit is if anything happened during the 15 years, then the RM100k serve it purposes.
*
I worte about it in few post back about ILP Vs standalone. Anything bundle with life insurance is usually ILP.

Keep in mind that if your parents got existing condition they won't be covered eg high blood pressure, diabetes and it's complication.

You can choose to cover until whatever age you can afford. Nowadays got standalone insurance cover until 100 years old. But can you afford the premium at 20k/year?

I alway say get standalone. Don't get sold by agents or "planners" for ILP.

Cheapest standalone until age 80 (from what I calculate Vs AIA or GE you can cover to 100 also if you want)
1. Medisavers
https://medisavers.my/medisaversvip-prime.html

Others
AIA medi flex with rider
https://www.aia.com.my/en/our-products/medi...e-mediflex.html

GE
https://www.greateasternlife.com/my/en/pers...-extender2.html

Generali
https://fiselect.my/medical/

Keep in mind some last age to onboard is 70. Expect insurance companies to ask for medical report on health before approval due to age. They can ask for it and it is their right.

For me personally I went with AIA. I had an GE insurance, exercise my cooling period due to not so good reputation of GE trying their best to delay admission or GL (not I say, so many of my friends working in private hospitals tell me).

Which one is the best?
AIA and GE can apply for outpatient GL for dialysis while others pay and claim. There is no best. All depends on budget, room and board, how long post hospitalisation follow up.

Which is the cheapest?
If you cover until 80 years old, medisavers

Which one have longest outpatient coverage after hospitalisation?
GE

Which one have not so good reputation?
GE. Others unknown (Generali and medisavers) unable to dig up info on Generali or discovers due to not many people using it. AIA usually no-issue as long as pay on time and in full. No questions asked unlike GE.

When you buy medical insurance, do not expect any cash value left. Whatever you pay, just assumed it's burned. Only way to get returns on medical insurance is to use it for admission.

Cons of ILP
1. Unnecessary bundle
2. Extra cost
3. Lousy returns
4. Increase in price every few years when it's supposed to be fixed

Pro of ILP
1. You can take premium holiday and your insurance won't lapse i.e "forget" to pay or really forget to pay or need the money for other stuff (not recommended)
2. Can downgrade the plan

Pros of standalone
1. You know more or less how much you are paying
2. You pay only for medical insurance and commission. Nothing else.
3. You get better returns by putting the money into your parents EPF and they can take the money out anytime
4. Less sudden increase as what you see on the table is usually what you pay. Usually.

Cons of standalone
1. If you missed payment, then it's lapse and not covered anymore. No issue if you are a good paymaster
2. Amount of premium paid can shocked some people.

Hope this help your search. Keep in mind at 60+ premium is expensive yo. Sometimes at that age, best to pay out of pocket.

This post has been edited by Ramjade: Sep 15 2023, 11:13 AM
Ramjade
post Sep 15 2023, 11:23 AM

20k VIP Club
*********
All Stars
24,347 posts

Joined: Feb 2011
QUOTE(Rinth @ Sep 15 2023, 11:07 AM)
if this policy for myself (younger age, 30++), i'll definitely take with Life insurance coverage because we still have alot loan, not much retirement funds, not much assets. But this policy is for a 65 years old, which is out of ordinary circumstances (well for our family, maybe not for insurance agent), not much outstanding loan, still working. Hence the question to get opinion. and you also mentioned, people usually buy without knowing anything, i used to be this kind of people, so i hope to get more transparent to truthful answer from here to avoid simply buy without knowing what we're buying.
*
There are 3 type of thinking when come to life insurance
1. I pay so much already, just continue paying until I die.
2. I want to leave something for my kids so let me buy life insurance
3. Modern conventional Singaporean thinking, cover all loans and cover until I retire. After I retire no need for life insurance anymore.

Again each thinking is different to everyone. Can't say what is right or wrong for you, myself or your parents.

For me I lean more towards 3. Also the only insurance I have is medical insurance and critical illness insurance. I won't bother with life insurance. I can't see the value of ILP henc ei avoid ILP. Also I am not a fan of ILP. No one have manage to convince me to buy an ILP yet. Haha... (waiting for that day)

I quote this from a financial blogger I follow, never ask a barber if you need a haricut. You know what that means. I don't need to say anymore. Only you yourself care about your own money. Don't listen to anyone. Don't listen to me. Seat down discuss with family members and do what is right for your money or their money smile.gif

Show them the premium they are paying at age xyz. Also if budget is a concern, get the cheapest room at board at RM150.

This post has been edited by Ramjade: Sep 15 2023, 01:00 PM
Ramjade
post Sep 15 2023, 11:26 AM

20k VIP Club
*********
All Stars
24,347 posts

Joined: Feb 2011
QUOTE(Rinth @ Sep 15 2023, 11:22 AM)
Thanks for reply. So I'll ask my parent to get a quote for standalone policy with similar coverage.

Literally if able to purchase the policy before age 70, they should able to extent their medical policy above age 80, provided they can swallow the premium. I'm just afraid that due to whatever reason we want to extent, but due to the insurance doesnt allowed to extent then jialat.

Paying out of pocket most likely was their initial plan, they do have 1 medical policy, but was like those very old policy, annual limit 30k, as they didnt review their policy b4, so now kinda late already.
*
Like I said if got illness, basically new insurance is no go already. Again they can cover until 100 provided they can tahan the premium. For me, personally my own plan, I choose to cover until 80 only. Reasons
1. I already half dead by 80 or already dead.
2. Time to use govt service that time.
3. I am not going to pay RM20k/year+ for medical insurance at that age

Ramjade
post Sep 15 2023, 05:55 PM

20k VIP Club
*********
All Stars
24,347 posts

Joined: Feb 2011
adele123
Why? Cause I have search across so many companies and I did all the calculations. Assuming no sudden increase in premium like what happen in ILP, they are the cheapest standalone medical insurance if you were to take from 30-80 years old. Around RM50-90k cheaper (I am quoting from memory, my excel file is not with me). Some people just want the cheapest premium with high coverage. Yes the total premium paid over the years even beat AIA, GE by miles. I was about to take them then decide to pay more for AIA due to
1. not much info on medisavers
2. No outpatient GL for dialysis or cancer treatment (pay and claim)
The underwriter is lonpac (part of public bank). I got only one record of them from my friend (no questions asked unlike GE -fill up insurance, submit, approve that's it). Company maybe dodgy but most important is who is the underwriter.

I would not recommend ILP even if the person is young like me. I see no pro in ILP.

I learn no 3 form Singaporeans. No agent was telling me anything about life insurance.

This post has been edited by Ramjade: Sep 15 2023, 06:09 PM
Ramjade
post Sep 15 2023, 07:41 PM

20k VIP Club
*********
All Stars
24,347 posts

Joined: Feb 2011
QUOTE(adele123 @ Sep 15 2023, 07:25 PM)
Everyone wants cheapest for the best. There ain't gonna be that in real life.

The company MXM that offers medisavers itself seems dodgy. I don't worry about lonpac since they are highly regulated. I think many months or years ago lifebalance got share something about them. But then I would think lonpac or other insurance companies got do their homework before working with this 'broker'

The thing is as much as I don't prefer the idea of ILP, I have seen enough consumers who don't like standalone medical also kind of product.

People cannot grasp the concept of paying for something and not getting anything back. Some do not see that they receive the insurance coverage during those period as getting something especially if they don't claim.

And it is also true that the medical products attach to ILP plan are more canggih. Of course whether this kecanggihan is necessary to customer, I am aware. Not everyone wants the bells and whistle.

Despite that, I owned 2 polices. One of them is ILP. I practice what I preach. Hahaha. I don't like ILP. But I can tolerate it.
*
I think they are regulated by BNM too. As long as they are regulated by BNM should be no issue. I know why they are cheap. As an agent point out to me there's no free lunch in insurance. Only stuff I know is they got very low post hospitalisation follow up days Vs AIA or GE.

Actually you don't get anything back from ILP too (if the agent was honest with the client). I have meet 2 agent who was upfront inform me and told me do not expect any cash value from ILP. Rather expect to add more money in overtime. I was grateful that they are honest. Cause other agents I met oh don't worry the premium is fixed.

People like the idea of "stable premium" Vs seeing premium increase every year. I also like stable premium but I am practical guy so I can accept and see the real price of my premium incressing. Again, no free lunch in insurance plans.

This post has been edited by Ramjade: Sep 15 2023, 07:42 PM
Ramjade
post Sep 15 2023, 08:42 PM

20k VIP Club
*********
All Stars
24,347 posts

Joined: Feb 2011
QUOTE(lifebalance @ Sep 15 2023, 08:32 PM)
Don't simply imply Medisaver is regulated by BNM if you are not even sure. Are you a representative from MXM to confirm this?
*
I am not an agent not do I have any interest in the company. I don't have any financial incentive or financial compensation. Everything I share is free of charge and I don't expect any returns.

Lonpac is regulated by BNM and that is good enough for me.
https://www.bnm.gov.my/-/lonpac-insurance-berhad

You can see who is their underwriters are
https://www.medisavers.my/business-partner.html

This post has been edited by Ramjade: Sep 15 2023, 08:43 PM
Ramjade
post Sep 15 2023, 09:03 PM

20k VIP Club
*********
All Stars
24,347 posts

Joined: Feb 2011
QUOTE(lifebalance @ Sep 15 2023, 08:45 PM)
Wrong and incorrect.

Why are you talking about Lonpac?

I'm talking about Medisaver. Show me the evidence they are regulated by BNM.
*
I maybe wrong that medisavers is regulated by BNM. But no issue as lonpac is under BNM regulation. At least there is an alternative for those who want cheap medical insurance premium with coverage for RM1m+ coverage. Not everyone have money you know. People want to pay more for AIA or GE, let them be. People want to save money by going the medisavers way, let them be la. At the end it is their money and they coverage rather than no coverage.

I am talking about lonpac because the insurance agreement is between you and lonpac. Not medisavers. Medisavers is just the agent/seller.

Bro their medisavers plan is underwritten by London and lonpac is regulated by BNM. That is good enough for me. You are getting covered by lonpac and not medisavers. In fact their claim form is also under lonpac. Medisavers just sell lonpac product. Is that wrong? I think not.
https://www.medisavers.my/claim-medisaversv...edibooster.html

What's the issue?

This post has been edited by Ramjade: Sep 15 2023, 09:08 PM
Ramjade
post Sep 16 2023, 12:49 PM

20k VIP Club
*********
All Stars
24,347 posts

Joined: Feb 2011
QUOTE(adele123 @ Sep 16 2023, 09:20 AM)
The problem is, when you read up on MXM, doesn't the company feels extra weird and dodgy? Should you be recommending if not sure?

Actually lonpac has medical products on their websites, why not name drop at lonpac websites directly.
*
Official lonpac products on lonpac website sucks. Low amount of coverage Vs what medisaver lonpac have. As I said I have checked basically everything on the market for standalone card.

Like I said, agreement, claims everything is between you and lonpac. Nothing to do with medisavers except signing up via them.

I have used white label before when original was more expensive (not insurance but other stuff) and it was ok. Sign up via white label and invest ith the original platform The whitelabel function is to bring cost down and sign up only.

I am person where I can save cost and there are options for it, will use it. As all insurance are regulated by BMM it's ok to choose any insurance except the one with some reputation (GE) based off what you need and what premium you are comfortable paying. If there are better quality products at decent price, I will get them.

This post has been edited by Ramjade: Sep 16 2023, 01:20 PM
Ramjade
post Sep 16 2023, 05:01 PM

20k VIP Club
*********
All Stars
24,347 posts

Joined: Feb 2011
QUOTE(adele123 @ Sep 16 2023, 04:48 PM)
You cant compare white label investing with MXM and lonpac.

While i do not have any actual information that MXM is a shady or a legit company, you didnt go through the buying process to actually legitly recommend it also.

https://forum.lowyat.net/topic/4919324/+2360

This was shared here by lifebalance years ago.

Side note: While i dont benefit for speaking good on behalf of GE, there is no definite proof that GE is bad at paying claims. Alot of informations are hearsay and anecdotal. That is why we have regulators.

That being said, if you all stop buying from GE, i think i benefit in an indirect manner.
*
For like I said the insurer is lonpac. Everything is between you and lonpac. Nothing to do with mxm. Not sure about payment part. The thing is because the agreement/contract between you and lonpac, nothing to do with mxm that is why I am ok with buying from them. If you ask me to be covered my mxm, sorry la. I won't even consider. But because underlying is lonpac no issue.

GE based off hearsay from my many friends working in private hospital. If one or 2 cases you still can have doubts. If you asked them what is the most problematic insurance for admission, they tell you GE. Then next question. How many cases? They said all. That's enough for me. Like I said don't get me wrong GE pays or give GL but they try their best to ask lots of question to delay or deny the admission/GL. You don't see that with AIA or Prudential. Again based off what my friends told me.

This post has been edited by Ramjade: Sep 16 2023, 05:13 PM
Ramjade
post Sep 16 2023, 06:51 PM

20k VIP Club
*********
All Stars
24,347 posts

Joined: Feb 2011
QUOTE(JIUHWEI @ Sep 16 2023, 06:20 PM)
Bro... based off of hearsay and guessing...
Then even go to the extent of recommending someone else something that you yourself don't and won't buy...

It's a very weak endorsement at best.

It's akin to saying "eh, this place kari mee damn good man. But I haven't try"...
People can't help but to scratch head.
*
I walk the talk. I have GE. After hearing so many bad things about GE, I straight exercise my cooling period. I trust my friends opinion Vs what agents tell me. Also I almost sign up with medisavers. What stop me was outpatient dialysis and chemo pay and claim. No GL for that. Very short outpatient follow up.

I am giving people options. Like I said some people just want the cheapest premium with high coverage. Up to them if they think medisavers is suitable for them or not. Up to them to do homework. I did my homework already. That's why I said you can ask me anything about standalone insurance, I have went though I think almost all companies in Malaysia selling medical insurance. Fwd, deartime, mcis, AIA, GE, Prudential Generali, medisavers, lonpac, Hong Leong, Manulife, allianz, Zurich, tokio marina, msig.

This post has been edited by Ramjade: Sep 17 2023, 02:32 AM
Ramjade
post Sep 18 2023, 01:13 PM

20k VIP Club
*********
All Stars
24,347 posts

Joined: Feb 2011
QUOTE(razerS @ Sep 18 2023, 12:52 PM)
Hi All,

Me looking for Family Insurance.
Me , Wife, kid. Spouse foreign.

Is it better to take group or single insurance for all.

No idea about which policy and all.

If premium total under 400/mth, better.

Used AIA before and company Medicare.

So all suggestions, very helpful smile.gif
*
Ask your agent. Sometimes family plan have discount Vs individual. Also sometimes if you pay yearly you can have discount Vs paying monthly.

This post has been edited by Ramjade: Sep 20 2023, 11:47 AM
Ramjade
post Sep 21 2023, 12:29 AM

20k VIP Club
*********
All Stars
24,347 posts

Joined: Feb 2011
QUOTE(QuekZai @ Sep 20 2023, 09:31 PM)
Hi all,

I am looking for a personal medical insurance. Currently, my GE insurance is advising me to increase my premium again. Even though it is an ILP insurance, IIRC, this is the second times they increase the premium since I bought it 6 years ago. I am currently 30. The premium is RM430 per month.

I would like to shortlist some decent companies that I should look at. Can you help me on this?

Thank you in advance.
*
Hi, I wrote about ILP vs standalone in a few pages ago. If you are rajin can go and search what I wrote. Few things you need to take note about going for new standalone insurance:
1. Everytime you buy new insurance there is a waiting period of at least 2 years on the new insurance where you won't be covered for certain illness such as (stones, high blood pressure, diabetes, heart attack, slipped disc). Keep in mind you will be stilled covered for accident, dengue, viral fever
2. If you have current illness like (stones, high blood pressure, diabetes, heart attack, slipped disc) your new insurance won't cover your illness or the complications. If you are still healthy, by all means go ahead
3. If you surrender your ILP, don't expect to get back 100% of your premium yo.
4. When you buy new insurance, your new agent or old agent (depending on who you get it from) get paid for at least 7 years.
5. If you are going standalone, keep in mind you are losing the following benefits premium holiday, waiver flexibility to change plan as and when desire
6. Premium increase yearly according to table usually but there are exceptions (spoken to 2-3 agent from AIA and GE) unlike ILP. But not necessarily won't have shocked increase unlike ILP. So basically you know how much you will be paying. It will come a time when premium can go as high as RM15k-20k/year (when you are 70-100 years old)

Most important to note are 1. and 2.

Here you go
» Click to show Spoiler - click again to hide... «


Additional info
the insurance mentioned above all have RM1m+ coverage (enough to last you until you are 80+ years old, no loading of extra cost if diagnosed with xyz disease, guaranteed renewal)
If you want the cheapest insurance for RM1m+ coverage: Gathercare
It is a crowd sharing platform, not exactly a pure insurance where the premium is around RM400+/year without yearly increase. Yes you read correctly. RM400+/year, How safe are them? I will say pretty safe based off the published claim. They published their claims monthly.

If you are looking for looking for say coverage of around RM100-150k, can consider the following
FWD, Deartime, Generali emedic, Manulife, Allianz, AIA, GE,

I believed FWD, Deartime and Generali emedic are cheap vs the others (maybe wrong though, kindly do your own calculations)

Hope my post helps you.

This post has been edited by Ramjade: Sep 21 2023, 05:10 PM
Ramjade
post Sep 21 2023, 12:04 PM

20k VIP Club
*********
All Stars
24,347 posts

Joined: Feb 2011
QUOTE(poweredbydiscuz @ Sep 21 2023, 08:30 AM)
Wow 30 y/o but premium rm430? Perhaps you could consider to review and reduce your coverage.
*
Normal for ILP. The ILP I designed all medical only to sustain me until 80 years old cost me RM3000-3600/year. He must have included in extra or unintentionally included extra cause agent said oh this is good. Add.

My ILP was fully medical and nothing else. I minimise everything and still that premium. I was forget it. Let's go the standalone route.

This post has been edited by Ramjade: Sep 21 2023, 01:49 PM
Ramjade
post Sep 21 2023, 02:51 PM

20k VIP Club
*********
All Stars
24,347 posts

Joined: Feb 2011
QUOTE(chinkw1 @ Sep 21 2023, 02:43 PM)
I also realised that, medical insurance/card usually DOES NOT cover outpatient specialist visits ?

Its normal correct?
*
Yes. Sadly that is the normal. That is why to "use" your insurance, usually need admission even though actually no need admission. So just admit since the insurance company doesnt want to pay for cheaper outpatient, and they want to pay more for admission let the insurance company pay more for admission. Follow their rules biggrin.gif They only cover outpatient for accident cases or dengue. Usually. Outpatient dialysis and chemo will also be covered.
Now AIA mediflex start covering for outpatient influenza too which is nice. But old policy still dengue and accident only.

However if you got company insurance, some company insurance cover outpatient.

There is only one insurance company in Malaysia that offer outpatient coverage. That is by Generali.
Generali SmartMedi Outpatient

For me personally if I were the insurance company, I would offer outpatient coverage to reduced paying more for inpatient coverage. Lol.

This post has been edited by Ramjade: Sep 21 2023, 03:03 PM
Ramjade
post Sep 21 2023, 03:36 PM

20k VIP Club
*********
All Stars
24,347 posts

Joined: Feb 2011
QUOTE(chinkw1 @ Sep 21 2023, 03:33 PM)
OIC, thats why, if need to do expensive tests such as MRI, ppl just admit 1 day (in actual fact it does not need admission) .??smile.gif
*
Yeah. Play by their rules. If insurance only cover you if you admit, then just admit lo. That's how people abuse insurance actually and then everyone cost goes up all because they don't want to cover outpatient treatment.

This post has been edited by Ramjade: Sep 21 2023, 03:37 PM
« Next Oldest · Finance, Business and Investment House · Next Newest »
 

32 Pages « < 10 11 12 13 14 > » Top
Add ReplyOptions
 

Change to:
| Lo-Fi Version
 0.0368sec    0.45    7 queries    GZIP Disabled
Time is now: 8th December 2025 - 12:44 PM
All Rights Reserved © 2002- 2025 Vijandren Ramadass (~unite against racism~)
Removal Request
Powered by Invision Power Board © 2025  IPS, Inc.