Refer to your question, the agent replied that it has a 5,000 life attached.

Is this clause got hidden agenda?

My bad. Miss that through my cursory reading. That's a good feature to hedge inflation

I do own a HLA traditional policy. It's not IL, but my medical plan does come in the rider form.

The life portion i had was much higher, but it was my intention in getting that 200k life insurance. I bought this 2 or 3 years after i started working. Bought back in 2014.

If you want to be sure, just get the agent to sent you the sales illustration and PDS confirm the details.

Get your agent to quote you something with deductible, so you can compare the cost.

This post has been edited by adele123: Aug 12 2023, 08:43 PM

@adele123 , your HLA Traditional Life+Medical policy premium also following the age range premium table?

This post has been edited by totoro2018: Aug 13 2023, 08:43 AM

Ya, the premium for the medical will increase based on age.

Do you opt for Deductible amount?
Will these deductible amount be changed by insurance company after few years?
Please share the pre & post retirement deductible amount you chose and the premium discount % .

This post has been edited by totoro2018: Aug 13 2023, 09:25 AM

All medical insurance premium will always go up with age. Cannot escape. Need to plan in advance how to pay for it in the future. 2 very simple way.i will always recommend.
1. If you don't know how to invest, dump it into EPF
2. If you don't know how to invest and want higher return, dump into a S&P500 etf.

Always go for deductible to lower your premium. Deductible is so you pay part of the insurance first then the balance the insurance company will fork out.
If you are working and covered with company insurance, choose the highest deductible to save on cost. Make sure to ask agent for black and white, can you lower the deductible in the future?

FYI, HLA is quite transparent, you can download the product brochure & PDS from their website : https://www.hla.com.my/CMS/Product-Services...Starter%20Rider

The existing deductible amount got 2 options :


The above example is applied to same pre & post deductible amount, for e.g.:
pre retirement $2500 post retirement $2500 = 25%
pre retirement $5000 post retirement $5000 = 40%

It is meant if choosing other deductible amount for pre or post will affect the discount %

This post has been edited by totoro2018: Aug 13 2023, 10:37 AM

Ya, I am looking for the deductible amount because I have company insurance.

According to agent: in future if want to increase deductible amount is more easier than decreasing the amount , Insurance company will do a review if you request for reducing amount because they will bear more medical charges.

When choosing the deductible option, check to see if the product has a retirement option.

Check with your agent on the claim process and you'll want to consider your own cash position when determining the deductible amount.

Company medical covers RM30k
Medical bill RM100k
Deductible RM20k

In this scenario you'll be better off using your own medical card first however by doing so you will need to shoulder the deductible of RM20k. Once the dust is settled, you may then claim the RM20k against your company medical insurance. This is assuming your company and personal insurance provider are different. But as far as I know, companies do occasionally change insurers so it's still on you to mitigate this potential risk.

So long you practice good financial habits such as having an emergency fund, you should be able to fully enjoy the deductible benefits.


Best,
Jiansheng

This post has been edited by Holocene: Aug 13 2023, 10:30 AM

That will be inaccurate from your agent.

Opting for deductible will be beneficial for the insurance company instead as the insurance company would not need to bear the full cost.

As others had pointed out earlier. You may want to try those with retirement option. However bearing in mind that this would only kick in upon retirement. So if you’re still young and far away from retirement age, you may have to bear those high deductibles until then.

This post has been edited by lifebalance: Aug 13 2023, 10:46 AM

Only got two options of deductible amount : $2,500 & $5,000.
No $20k option.

Take a look at AIA mediflex (standalone) RM250 room and board. RM1.2m limit. They have deductible with RM20k which you can downgrade when retired. Only thing they don't have is TCM.

Medisavers also have high deductible. Only issue is hard to get medisavers agent. Mwdisavers have the lowest premium of all the insurance I checked (if you are taking until 80 years old). I skipped HLA as soon as I see the word rider. So can't comment on HLA.

This post has been edited by Ramjade: Aug 13 2023, 01:36 PM

Is there any insurance plan that we can purchase and customize by urself?
Hate to deal with my current agent as she tends to push for expensive plan instead of what I want/need.

The closest you have is by fi.life. I have experience with such agents. Solution, keep looking for another agent and cut off this kind of agent. Keep looking for agent that you like to work if. How to find new agent? Just drop your contact on the insurance company website, someone will contact you shortly. Whether the new agent is pushy is another question.

By yourself? You can by informing any agent to quote according to your desire.

Hi guys, I'm looking for traditional life insurance plan but most of companies only hard sell investment linked plan. I came across HLA and they quoted traditional plan so called Secure 100 non participating whole life plan with premium payable for whole policy term. Would like to double confirm this plan is legit traditional plan without investment linked . Main reason I would like to stick with traditional plan is the surrender value for investment linked is so much lower than the traditional.

Have you tried looking at AIA MediFlex?

Which is better? AIA mediflex 250 or AIA med regular 200? I like mediflex for high deductible. 180 days post hospitalisation. Can save money and they have outpatient influenza like dengue. only downside is limit I think limit reduced?

He want life insurance.

Try fi.life. Insist to your agent you want standalone without any investment. If agent throw you the black face look, look for another agent.

Also do checkout moneyowl from Singapore side. You might get better deal like what I got for critical illness.
Malaysia coverage RM500k, premium RM14k fixed for life until 80 year old
Singapore coverage RM500k with 2x multiplier, premium only RM7k fixed until the age you want to cover it for life. If you choose for life if course more expensive

This post has been edited by Ramjade: Aug 13 2023, 11:39 PM

Yes there are traditional life plans available in the market. You're looking into life & TPD only?

Have you looked into A-Life Wealth Venture by AIA?

This post has been edited by JIUHWEI: Aug 14 2023, 12:15 AM