AIA, GE, Generali, medisavees (lonpac), gather are selling RM1m+ coverage.

Find on their website.

You get rm1m+ coverage is not for you to use insurance now. It is for you to use it 20-30 later. Like last time insurance only RM30k. Now only enough for like normal admission but not enough for ICU or major op.

Combine with the lousy ringgit, your rm1m+ will be needed sooner than later.

This post has been edited by Ramjade: Feb 15 2024, 10:58 AM

You have not factor in cancer treatment and dialysis. You can go for those 100k+ coverage. It is sufficient. But if you need dialysis or cancer treatment, not going to be enough.

Do you want to run out of coverage when you need it?

This post has been edited by Ramjade: Feb 15 2024, 11:00 AM

500k also ok.

Sounds like you got a bad deal. Shop around. Compare prices. Life insurance usually very cheap. Can even get FSM to do a quote for you.

If you are like me who want best deals, can even consider shopping from Singapore. I was shocked they have cheaper insurance with same coverage than Malaysia even after conversion.

Downside need to travel there to sign the contract and priced in SGD.

This post has been edited by Ramjade: Mar 2 2024, 11:29 AM

You can't compare like that. Why? Different age, different plan, different company, different coverage amount.

Keep in mind you are disposable to company. Unless you somebody important, they can dispose of you. When you are laid off, no more company benefits already.

You can cut. Use govt service if you can wait. If emergency you will given treatment promptly or else you wait la.

Seeing that you have illness, if you cut, new insurance won't cover your current illness. Something to think about.

Not true... You buy now or buy later more or less the same as premium keep going up. Eg. You are supposed to pay 3k/year at age 40. You are not 20. Provided nothing change, you will pay r3k at age 40 whether you buy at age 20 or age 40. Let me see like 5 years later if need to change insurance.

No loyalty bonus form insurance 😂 only one I know is give you free upgrade without need of new medical underwriting.

All insurance now can usually be purchased even at age 70. Of course any present illness won't be covered.

This post has been edited by Ramjade: Mar 4 2024, 09:24 AM

I will say they are stingy. They try to delay your admission as much as possible Vs other companies. Don't get me wrong, they do approve admission but let us just say trying to put rocks in your path.

Testimonials from friends working in private hospitals. That's the reason after I got my Great Eastern insurance, I exercised my cooling period, get my full refund and went with what my friends recommend which is AIA. They told as long a pass 2 years, pay on time and in full no issue. Great eastern even though pass 2 years, pay on time and in full, they try to put rocks in your path by asking all sorts of questions.

Another personal experience. When I exercise my cooling period, I submit my application via email on Wednesday/Thursday afternoon. I called up customer service next week and said not received. I was WTF. I send via email and you guys only received didnt received it? Apparently it takes them 5 working days just to received my email. Clearly showing that they are trying their best to stop me from exercising my cooling period. I did received my full refund. Boy am I glad I didn't continue with them after that cooling period experience.

I went to their customer service office saw lots of people. Someone shouted pay don't know how many years and don't want to pay out. Went to AIA customer office, saw no people. Lol. Same day, around 1h difference in timing.

This post has been edited by Ramjade: Mar 10 2024, 01:28 AM

I will edit my entry. It was 5 working days just to received my email for exercising my cooling period.

Also GE does not upgrade you for free to new plan if you are loyal customer who never claim before. I know only 2 people in real life their insurance company upgrade them to new plan as they never claimed before without needing for any new medical underwriting. That company is AIA. That's another reason I exercise my cooling period with GE.

All insurance once you got any illness, they won't cover you anymore for that illness if you try to buy new plan. It's SOP.

Er, I am talking about upgrade to a totally new plan. New pool of money with more healthy people Vs old pool.

Not true. All insurance have coverage for stuff like cancer. The question is limit enough to cover your expenses?

You can see all the insurance product disclosure sheet and see what they cover.

Not true. ILP will have cash value for a while only. It will be zero or negative cash value at the end of the ILP.

This post has been edited by Ramjade: Mar 10 2024, 07:37 PM

Kena conned by agent already.
No need until 7.6 million for medical insurance. Max maybe 3 million.
Also critical illness insurance in Singapore (early critical illness and booster) cost only fixed RM7k/year for RM500k coverage. The booster increase your coverage or let you claim more than one critical illness (can't remember exactly what it was)

No such thing is no need to pay higher premium when old.

This post has been edited by Ramjade: Mar 20 2024, 05:29 AM

I am talking about comparing CI Vs CI coverage. I am not talking about medical coverage.

Question is can one afford the premium of ILP at 70-80 years old time ?😛

Careful lots of agent hunting for food in this thread. Don't worry. I am no agent and I don't cari makan by selling people things and I do stuff for free.

This post has been edited by Ramjade: Mar 20 2024, 08:14 AM

Yup. My guess is he using GE. Cause GE got this campaign of free 2x double or 3x covered for free but of course with a *.

*states that they can charge for the coverage in the future. One of the GE agent I met fail to tell me about the fine print and try to entice me to sign up cause it's free.

Too bad for her, I read fine prints.

Again likely agent words. I want to see black and white from the insurance company. Again not first time agent tried to use the trick of no increment on me.

Nothing to be confident about. ILP is you are paying the insurances company to manage investments for you. Hoping that whatever investment they do can pay for your insurance with time.

Do yourself a service and go run out all fund the ILP can invest into, ask for annualised return and see if they can match EPF return or not. Many of the time, the best they can do is FD return. There will be some outliers.

Of course throw in one insurance there, another insurance there, waiver, premium holiday, woila an ILP.

There are 3 ways around it
1. Continue buying ILP cause you don't want to think too much.
2. Wake up smell the air, buy what you need and dump the rest into EPF (as majority of EPF will beat whatever return the ILP can give you). If you are more adventurous S&P500 or QQQ (no agent will tell you this cause it effect their rice bowl).
3. Do analysis and buy whichever best suits you. Be it ILP or standalone.

I already write my thoughts on ILP and got reported for writing about it, so you can read what I wrote.

All new insurance plan will not cover any pre existing illness or any surgery related to that illness.

It's standard practice. You can forget about it.

So going forward you got 3 ways
1. Keep old insurance for breast related issue and buy new insurance which will exclude breast
2. Buy new insurance which will exclude any breasts related coverage and you pay for it yourself
3. Stick with old insurance and get coverage for everything but limited annual coverage.

Your choice. I can't advise you what to do.

Not only allianz. All insurance company in Malaysia does that.

This post has been edited by Ramjade: Mar 27 2024, 12:34 AM

You haven't factor in 2 stuff
1. Repricing
2. Sustainability of the ILP

Any insurance agent telling you that you have cash value at the end of ILP is lying to you. Your cash value will be at best 0. At worse negative. (medical ILP). If life and critical illness maybe still got cash value.

This is say around 70-80 years old time. They can't tell you this as cannot close the sales. Something to think about.

The cheapest of them all is gathercare.

If you depending on coverage you want. Also if you are ok with those rm200k coverage then so many.

If you want 1m+ coverage then AIA Medi flex + booster or GE GMX + booster or fi.life or medisavers.

Keep in mind I am showing your standalone plans. All medical insurance premium will increase with age.

As long as got enough cash value to support the old policy, still in force.

If not, it will be counted as lapse.