That I do understand but what I meant is that 30/35 is also one of the other bigger jumps in insurance premium prices.


Actually I believe I had some endowment plans with AIA that was bought by my parents. But since the agent at the point of sale misrepresented the product, they were pretty upset and had the plan terminated after we came back to Malaysia, I can't recall the details but there's some bad blood with AIA.

But since I'm the one doing the buying now, I'm open to hearing options. My impression of AIA that it's generally more expensive so I'm curious to see what kind of plans can I get with a similar amount of premium that GE is currently offering at roughly RM2,000 - RM3,000 per annum.

A quick glance from the links you provided, the medical plan seems to be standalone product which I guess it's what I'm interested in, but the pricing is unknown. Are you an agent that can generate a quote for me, or should I just request for an agent from their website?

Also a quick read through their fund performance report, their local funds seems to be able to outperform the local benchmark but generally underperform when compared to the global benchmark. Which is in line with my thoughts on keeping my investment and insurance separate.

A quick glance from the links you provided, the medical plan seems to be standalone product which I guess it's what I'm interested in, but the pricing is unknown. Are you an agent that can generate a quote for me, or should I just request for an agent from their website?
Yes, I am a career agent. Not subtle about it at all actually. Perhaps you could send me your stats privately? Or if it doesn't make any difference, you could put it out here for other providers' conveniece as well.

Also a quick read through their fund performance report, their local funds seems to be able to outperform the local benchmark but generally underperform when compared to the global benchmark. Which is in line with my thoughts on keeping my investment and insurance separate.
Which you and everybody else should rightly do.

I noticed, since there was some drama quite recently. I just didn't read in detail enough to know which insurance provider you're related to.

I think the info you requested is quite general and could be disclosed for more transparency I guess.

1. Age: 29
2. Sex: Male
3. Smoker status: N/A, non smoker
4. Any Health history: N/A, rarely sick, touch wood
5. Do you ride a motorcycle other than for work: N/A, car driving only
6. Do you engage in extreme sports: N/A, common sports such as Badminton only

This forum while very informative, can have some egos running wild sometimes.

I try my best to
1. keep my cool
2. stick to the objectives
3. keep the peace

In that order of priority.

I'm related to AIA Bhd & AIA Public Takaful Bhd.

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

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

As Financial advisor myself. I'm able to source out insurance from almost any insurance companies.

In my opinion, It's really pointless to compare what is cheapest now because there is always a cheaper plan in the market depending on what coverage you want to opt in.

It's probably going to be NOT the cheapest in the next few months or even next year as there will always be a new plan or new rates implemented. So instead of chasing a balloon that you will probably never catch with your bare hands as it keeps floating. Opt for something that gives you enough coverage that you think is suitable enough.

Having the policy to cover all the way to 80 is a decent age as that's probably the average life expectancy of a Malaysian unless you have any family history which may reduce your life expectancy.

There is always a better plan with an affordable depending on what coverage you are looking for.

As Financial advisor myself, I'm able to source insurance for people from almost any insurance company. The key thing is insurance shouldn't be a burden to your personal finances without overlooking into other areas such as personal cash flow, retirement, etc

A financial review would be necessary to check whether you are on track with your personal finances just like a personal health check on your own health to see if there is any problem with your health that you need to improve before things get worse. Don't you agree?

Cheers.

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

Really good advice. I believe one must perform their own due diligence and understand what they are paying for. Insurance agents can be a good source of knowledge, but it is also important to understand and digest what they are telling you, such that you are not following their lead blindly.

We are living in an era where information are just one click away. Just take some time, do some research on the internet, eventually you will be the one benefiting from this as it is your own insurance policy.

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.

It means u cant claim death benefit within 30 days of policy inception.

If pure CI i think no death benefit but some may give abit sweet of very low amount like 10K. Refer to policy schedule to clear doubt.

I think that is pretty standard for MY company i guess.

"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

My partner is looking for a lady insurance same like PRULady or AIA-Life A-Life Lady. She already has medical insurance etc. Wondering if there is any other companies that offer similar? This is so that we can compare the premiums and benefits. Does anyone else get these type of insurance?

age:27
Non-Smoker

Nak tau?
Come join my Monday night sessions I bring you through history of medical insurance in Malaysia.

But if you don't want long-winded history lesson:
Buy now, take the 300 or 500 deductible
Buy the highest coverage you can afford now

Co-insurance will come back
Inner Limits are already making its way back
I just hope that pharmaceutical brand preference or vice versa doesn't make its way into our insurance products
At least not in my lifetime.

What is the sum assured you're looking for?

Just came back from a long week overseas, will respond accordingly.

Hi Guys, anyone can explain the below picture?






3.8k pa = Life & CI
3k = Medical
1.9k = son medical

Why is the insurance charges for medical is so much higher then Life insurance? is it normal? which means that agent & insurance earn more thru medical policy?

and why is seems doesnt tally... example monthly RM 160, RM 121.6 into investment (24.32+97.28) , insurance & policy charges RM 74.21 (1.22+4.78+13.93+54.28), total more then monthly RM 160

This post has been edited by Rinth: Sep 8 2023, 10:12 AM