For me I don't care about MXM. All I care is who is my insurer and who my contract is with who. When you buy via mxm, your contract is with lonpac and not mxm. When you get admitted, your insurance is lonpac not mxm. When you claim, it's you claiming from lonpac and not mxm. Mxm just like agent. For me I can live without agent. So no issue if mxm exist or don't exist cause at the end of the day, I am dealing with lonpac.

This post has been edited by Ramjade: Sep 21 2023, 05:36 PM

All insurance will not cover you for existing illness. Not only limited to prudential. Cause they don't want to take loss as likely you will go in and out of the hospital if you got existing illness.

You can appeal but they may load you with huge fees either as compensation or deterrence so you won't sign up with them.

But if you read the black and white of all insurance company contract, any existing illness won't be covered.

This post has been edited by Ramjade: Sep 22 2023, 02:53 PM

Can try but likely no luck yo.

If you ask around, you know lots of unnecessary admission to private hospitals. Simple runny nose, cough, influenza all masuk. Reason
1. No one want to pay outpatient cost
2. People want to use insurance cause already pay so much. So need to use.
3. No outpatient coverage.

If insurance company come out with outpatient coverage, this kind of thing won't happen.

I will be frank. I got a shock, when I found out no outpatient coverage except for dengue and accidents. I then ask agent so if want to use insurance and doesn't want to pay the bill, only way is admit? She told me sadly yes. That is the only way. Agent themselves also tell me that. She did told me if more people admit, the pool will drain faster and everyone kena hike up more. Another way is stay healthy and switch plan every few years cause when you switch to new pool, there are more money in the new pool. Switch until one day you cannot switch. That is the final pool you will be in or unless AIA is nice to grant you free upgrade to new plan (something GE don't do).

Anyway, for me, I will play by the insurance company rule. You can't beat them, join them.

That's why I go the standalone route. This thing have been happening since before covid. If you rajin dig though all old post like me, you know ILP keep increasing in price even though supposedly stable.

This post has been edited by Ramjade: Sep 23 2023, 09:44 AM

Both will increase with time. See you want surprise increase or not. Cause I asked both AIA and GE agent no increase for standalone clients in past 10 years other than what's in the projected table increase. Any increase in ILP In the past 10 years? Yes.

Keep in mind these are replies from 2 agent each, 2 each from AIA and 2 each from GE.

But like I said standalone also not immune. But lesser chance. How did I know? Generali and medisavers standalone both have increased around 2017.

This post has been edited by Ramjade: Sep 23 2023, 12:53 PM

Bro increase according to projected table which increase yearly. Not your suddenly increase like ILP. All insurance will increase yearly. Is whether got frequent sudden increase like in ILP. Keep in mind it have been shared before if ILP investment not performing they can increase the premium also.

Like I said only Generali and medisavers in the last 10 years have increase premium for their standalone which didn't follow the projected table. Sudden premium hike. Not the normal regular yearly premium increase. That means regular premium hike + additional premium hike.

I know cause like I mentioned I dig out everything on the internet regarding insurance plan I wanted to buy. There were official announcement published by AXA and medisavers that time. Again it only affect the lowest and low mid tier plan. Those on mid upper and upper plan were spared.

These are the questions I asked to my 2 AIA agent and 2 GE agents
1. Apart from the yearly increase in premium based off the projected tables are there additional increase in the past 10 years for standalone products?
No.

2. Based off your experience working in the insurance field do insurance companies follow the projected table premium increase?
Yes. Usually. Very rare they increase outside of the projected table. But they can. Usually increase happen because money in the pool is not enough so everyone will be force to increase regardless you got claim before or regularly use the insurance or claimed only once or twice. Increase premium usually affect those old plans. Not those new plans cause new plans still have lots of money left in them. Every few years insurance company will intro new plan to get new money.

3. Are there any increases for ILP in the past 10 years?
Yes.

4. So ILP premium are not exactly fixed?
No. If you meet agent who tell you they are fixed, they are not being honest.

See how I like these 4 agents? They were honest with me from the beginning. All said the same thing as above but more or less the same thing standalone will increase follow projected table. For question 2, only one agent told me in detail about the pool of money.

This post has been edited by Ramjade: Sep 23 2023, 01:38 PM

Again I dig up info, all these increase seems to affect ILPs only. I have dig up old threads from previous versions here and Reddit. All mentioned ILP increased. The common denominator here is ILP.

This post has been edited by Ramjade: Sep 23 2023, 01:46 PM

All have ILP. Is see whether you want to go ILP route or standalone. Also stuff like critical insurance or life insurance don't get price hike as much as medical insurance cause people can only claim after they are dead of diagnose with critical illness.

Don't know. Not interested in life insurance. Never bother searching. Not even planning to get life insurance. But from what the Singapore side quote me, theirs is fixed until end of the contract. Saw their table until age 60 is constant only. Not like medical insurance.

Yes it included in critical illness, early critical illness and Multipay critical illness, tpd. Not sure what does Malaysia side offer.

If you want pure life, lots of company have. If you want standalone, fwd, deartime, fi.life

This post has been edited by Ramjade: Sep 23 2023, 03:35 PM

If look at CI, look for one that premium is fixed. Yes they exist. Likely is ILP with medical plan. Again I didn't dig. Once I see so many smoke surrounding ILP, and post saying that ILP will ask to top-up if fund not performing (which is like majority of the time) on Reddit, I run far away from ILP.

Like I said. Look at the plan. If very old ancient plan, then yes. The plan I asked AIA was AIA med regular with rider and GE Great medic shield with rider. Both plans so far from existence until today no repricing yet except those that follow the table. Will there be repricing say 10 years later? Likely yes. They told me usually old plan that got no money inside the pool will be reprice. Sometimes AIA do upgrade people from old plan to new plan provided you never claim from them before without need of new medical underwriting.

Seeing that AIA med regular have been discontinued, and no new money coming in, matter of time before repricing happen likely 5 years down the road. But I won't be subjected to repricing because of not performing funds. This part I can control. Hehe...

That's why my goal is change new insurance plan every 5 years as long as I am still healthy. That way I am always in the new pool of money and have the latest feature intro by insurance company.

This post has been edited by Ramjade: Sep 23 2023, 04:42 PM

Let's see if I get hit by it next year. Cause I always pay my premium one shot (yearly).

This post has been edited by Ramjade: Sep 23 2023, 11:42 PM

As mentioned ILP got addtional one stuff which can increase premium faster than standalone.
That is fund not performing (which is majority of the time). You dont have that with standalone.

ILP is good for
1. People who are bad pay master who don't pay on time. Cause ILP is good for those who "forget to pay" or really forget to pay and insurance won't lapse as long as there is still money Inside.
2. Want all in one. Don't want to pening and buy each individual insurance themselves or shop around.
3. Want flexibility to upgrade and downgrade the plan.
4. Want the feeling that their money is not burnt but in actual fact do not expect any returns from ILP

Rider is additional stuff you can add to your insurance. It's those usually nice to have but not needed. Keep in mind everything you add is not free. There is no free lunch in insurance. Everything you add will decrease your sustainability of insurance. So what is nice to add?
1. Hospital income
-if you are hospitalised, insurance company pay you say between RM50-150/day
2. Waiver
-if you get any critical illness (must furfilled the definition of else the waiver won't kick in, good example is if you have heart attack and your blood vessel is block 67%, waiver won't kick in cause the definition wanted 70% blockage -this is a real life example told to me by my agent), insurance will pay for the premium until end of the contract excluding any increase in premium (that's what been told here, not sure how true is that)
3. Sometimes can get waiver for children until they are like 18 years old if say you die or bed ridden (there are some plans like that). Not very sure on this but saw it before
4. Ability to add on lots of life insurance or critical illness insurance. Like me last time I try to bring down the life insurance to say min RM5-20K (depending on the plan), even with minimum amount of life insurance I couldn't get the sustainability to reach 80 years old at premium of RM3k
5.Savers, you pay the insurance company to save for you and they charge you fees for it I think. Lol.

For me I have never seen the value of ILP at all. Rather I feel the ILP benefit the insurance company more than me.

This post has been edited by Ramjade: Sep 25 2023, 07:42 AM

You can buy but expect to pay super high price for insurance premium at their age unless you go for those RM150k/year type of insurance coverage.

Keep in mind insurance will not cover existing illness or it's complication in your case you father high blood pressure and every complications from high blood pressure coverage will be excluded and not covered by the insurance company.

This post has been edited by Ramjade: Sep 24 2023, 04:44 PM

Depends on
1. How fast the doctor response to the application for claim. Sometimes they are super busy or super lazy. Still human what.
2. Depend on how efficient your agent is (you can skip this and DIY if you are like me who don't like to use agent, yes my agent probably got free makan from me)
3. Depending on how much stuff the insurance company want to try dig up.

Depends on insurance company lo. Cause need to investigate why you use your insurance so soon (basically they want to check and see you commited fraud or not and and see you got illness which you didn't declare). Keep in mind insurance company also got KPI that claims must be paid out by xyz days.

Not just aia. All insurance company got waiting period of 2y for their medical insurance before you can use for stuff like hugh blood pressure, diabetes, heart attack, stones, back pain, cancer. Only stuff covered is viral infection, dengue, accident. I am not even sure if food poisoning cover or not.

From what I know la, stuff like high blood pressure, diabetes if you use within 2y automatically insurance get cancel. Insurance company won't even pay you for the admission if you file and claim. This one my friend working as agent told me. So many people try to tipu insurance company.

So to be safe, use after 2 years. Don't la on the dot 2 years use it. Wait 2-3 months. For me myself, I will only use it after 3 years to be on the safe side.

This post has been edited by Ramjade: Sep 25 2023, 11:54 AM

If you got company insurance, always use company insurance. Like mine case, my company is China man run. Does not want to give us insurance. So need to get my own insurance.

I don't think your agent is wrong though. Cause mine also said more or less the same thing. Stuff except high blood pressure, diabetes, heart attack, i.e stones, cancer pay and claim first. Cause they need to investigate if you commited fraud or not.
Those stuff like viral fever, dengue, accident fully covered (GL will be given).

For me, I play safe and play by their rules. They don't want me to use insurance 2 years from the date, I follow it.

This post has been edited by Ramjade: Sep 25 2023, 02:23 PM

Then explained stuff like cancer or stone after 1 year. I have heard insurance company turn them down and ask to pay and claim first. Usually no issue if insurance already 2 years old and above.

I aim to change once every 10 years. 5 years too short time to change.

This post has been edited by Ramjade: Sep 25 2023, 02:41 PM

Like I said I got friends working private hospitals. All those disease straight upright all insurance denied and ask you to pay and claim first if less than 2 years. If diabetes and high blood pressure forget it.

All insurance. Not applicable to AIA only.

On paper. But in reality no GL will approve for that. All needs 2 years. Only those viral fever, accident, dengue got GL. Don't try it. To be on the safe side wait 2 years. Friends working in private hospital also tell me 2 years insurance or GL won't be approve.

I trust what my friends and agent said. Wait 2 years then only use the insurance unless it's virus infection, accident or dengue. You can try it yourself if you don't believe me. What better way to learn than experience it first hand.

Maybe what the contract said is true wait 120 days but it's pay and claim and insurance gonna investigate you. All agents I speak to regardless which company AIA, Prudential, GE, allianz all tell me wait 2 years to be on safe side. After 2 years then you can use the insurance freely. No more restriction by insurance company.

You can try. For me I won't bother. Play it safe man. All the insurance want is your money. 2 years is a very fast.

Do what you think is best for yourself and your money.

Don't buy insurance for tax benefit. Buy it to use it in the future. It's something you will use unless you are unlucky/lucky (depending on like how you see it) my colleague in his 60s and never use insurance a day in his life.

Agent bluff you. Latest and newest product by aia for standalone only is AIA Medi flex. You can opt to take rider or without the rider. Rider just extend the benefit to 1m+ coverage.

This post has been edited by Ramjade: Sep 25 2023, 03:43 PM

Of course. Generally when they ask to pay and claim first, they want to investigate and dig out info. If they give you both admission and discharge GL, they are not digging up info on you. That's my understanding.

Maybe wrong but again play by the rules.

It existed. I was on the old plan call AIA a-life Med regular before it was discontinued this year. Not sure during 2015 it already existed or not.

This post has been edited by Ramjade: Sep 25 2023, 04:16 PM