Will this time, the suggested premium increase will be alot for it need to cover the COI at that time?
Ya, betul.
Sebab the small increase now is supposed to start generating whatever returns.
You get my drift kan?

Will it be auto lapsed with the company telling the clients that the policy had lapsed due to insufficient fund?
Yes bro. The company will do this in writing. Used to be letters sent to your house, but nowadays it's in the form of email + notification on your customer portal.

This part I do not know, but I assume you guys who are agents to know better.

But what i know is the investment portion is just investment funds and there is no legally binding amount that the policy holder must ensure sufficiency. Else it will create a moral hazard where the insurance provider purposely make bad investment choices.

Clearly I did not mean the recommended top up must be paid now or the policy lapses immediately ON THE SPOT.

You are free to quote me back on what I said. I'm pretty clear on what I've said and have no problem with my English.

Wow. Didn't know about that.

But why don't do that? It will become like standalone medical card no?

Hmm... How should I approach this leh?
I try la k?

@lifebalance is actually accurate in his use of vocab.
We're talking about a product that carries certain levels of market risks.
Nobody in their right mind will be absolute about it.

Unless your plan is a traditional plan or a standalone medical insurance.
Then yes, please make sure to pay exactly whatever amount you need to pay.

Its ok... lets just move on. It doesn't really matter.
Apologies from my side if I sounded harsh.

There is. It's a contract where the responsibilities of each party is clearly defined.

No insurance provider will purposely shoot themselves in the foot, just to go down together with all their customers.
It's counterintuitive.

This post has been edited by JIUHWEI: Jul 28 2023, 03:54 PM

It becoming a standalone card, I don't know...

But what I know is everything is a matter of model projection.

Plus if you try one time to contribute extra 50rm into your ILP and then see where the money went... it goes to the funds.

Except that you can't do that.

However, what you CAN do is to pump all the monies into ad-hoc top-up to keep the policy fed.
Sounds like a good idea right?

But it's also counterintuitive.
We still derive a 3% commission on all the top-ups.

So why not just pay the regular commissions for 6 years, and be done with it?
After that, it's only gna be the COI and FMC, that's all.
Why still add the 3% perpetual commissions to us?

I know some customers really do love us a lot lah, maybe just a few rounds of drinks once in a while la.
Happier also

This post has been edited by JIUHWEI: Jul 28 2023, 04:01 PM

There will be a minimum top up and a recommended top up option when the time comes.

By following the minimum top up, you will pay on a step up premium basis where as the recommended top up will be on a level term.

That's why I'm surprised.

But Wedchar2912 seems very confident that it can be done tho.

Well, I don't need to prove that I'm right.

Same goes to @lifebalance

@lifebalance literally pouring his heart and soul into this forum, yet forumers don't seem to appreciate it.

btw, I am not an agent... I am just sharing what I know, which may or may not be accurate.

But, if you receive such a letter for your ILP, i would recommend you discuss with your agent or a friend who works in insurance product side....

sorry, this part I disagree.

It all comes down to how you and lifebalance carried yourselves here. You both declared that you are agents and hence you both have fiduciary duties to ensure what you mentioned are accurate and truthful.

I am not an agent (actually I have never declared what I used to do), so I do not have the same responsibilities.

Appreciation or not from forumers takes secondary priority.

This post has been edited by Wedchar2912: Jul 28 2023, 04:15 PM

Let's say you go for a pre employment medical at a private clinic that does everything - urine, blood, ecg etc.

Will insurance companies have access to this information?

1. That you had a medical examination done at so and so date
2. The results of said medical examination
3. Any particular adverse findings, but no formal diagnosis
4. If yes to the above questions, how far back can insurance companies dig back?
5. What if you do your own blood test at a lab, does insurer have access to that too?

From what I know (this is what the agent tell me, don't shoot me), if you claimed for stuff and insurance ask to pay and claim first, the time when you submit the claim to time of payment, the insurance company will send a letter to all clinics and hospitals within 40km of your house/working place, have Mr xyz have come here before. If yes for what reason? If no then you are clear. If yes, then you kantoi. Not sure how far back they can dig it up.

Someone mentioned before here before the PDPA law, insurance company exchange information with one another. Say you got rejected by insurance A and you decided to buy insurance B but you didn't tell insurance B you got decline for insurance A, insurance B will ask around other insurance company have this person been your customer? Not sure if it's still done today with PDPA law.

This post has been edited by Ramjade: Jul 28 2023, 05:04 PM

So scary meh? but that is a lot of letters to send out and would that not be a breach of doctor/patient confidentiality?
If I am a doctor, I also will ignore cos it is silly and a waste of my time.

If I am not mistaken, the insurance company pay for it. It's not free. Another word my agent use, insurance company will know. You cannot run away if you try hiding it.

In this case, it's specific to a mandatory pre-employment medical check-up. No issue in terms of any symptoms or ailments. Just that one of the CVD markers is above the high threshold.

any insurance to cover kids from illness up until their working ages?

concern since many kids seems healthy when they are toddler and suddenly become sick when they grow up