1) how can we say how much is enough? the same insurance plan for 1m is at 580 a month for 20 years. at 400 additional, i thought it was worth it.
2) i have looked at other plans online, but its not giving me a proper breakdown of the charges/compensations hence why i was seeking feedback from people who has purchased life insurance recently.

Thanks but if insurance is rejected I would not be able to afford private hospital. That why I'm curious how long will the process be? If you walk in today would they be able to sort everything out within a few minutes, hours or its going to take a few days to get the green light?

I am surveying between allianz and AIA for medical insurance.

My AIA agent came up with the cheapest ILP Medical plan she can do for me at RM225/month with RM1.5m annual coverage. I remove a-plus saver rider from the plan.

My question is is it worth adding the a-plus saver rider or better to just do without it?

TQ.

I don't need it as my savings rate are 70-80%. I just want to know what it brings to the insurance. How will it affect my medical plan with a nd without it. 
When is it worth it to apply and when is it not worth t to apply?

The rich won't use their own money, otherwise they won't be able to stay rich.

The definition is correct, but they are none in Malaysia.

Do get Holocene to put in writing here and he is indeed certified as an Independent Financial Planner in Malaysia otherwise he's not.

I'd like to ask general question about the medical insurance underwriting.

I recently got a quote for ILP + medical insurance rider with exclusion for certain condition which I disclosed as pre existing condition.

Given that it's exclusion , should my COI go down because the.insurer don't have to cover that risk for my case.  Do I have a case to request lower premium for this case or at least longer sustainability period.

Because I think if the other way round , the insurer can choose to cover my condition and impose loading, so my premium is higher But if they put exclusion I don't gain anything?

I adjusted until the insurance agent also pening/got fed up with me.
Yes that's very true. Those sold online are subpar compare to those sold by agents.

You cannot buy online standalone medical insurance with coverage of RM1m before this. Only one company currently offer online for that kind of coverage and that's fi.life which partnered with AXA.

Can't wait for policystreet to come out their medical insurance advisor then we can see which company have the better deal. Best of all it's free and you have access to multiple company at the same time Vs only one. It's been coming soon for months.

jackdon
Have a look at this brochure. There's no way the RM150 room premium cost RM100K+year for your age.
https://www.aia.com.my/content/dam/my/en/do...ar-brochure.pdf
https://www.aia.com.my/en/our-products/medi...lthbooster.html

If you are talking about annual premium yes, that's correct. My calculations is more or less same with you.

For me it's around RM280k for coverage until 80. Yes I am willing to pay that.

Er you haven't factor in increment for ILP yet. When I did my calculations, I didn't factor in ILP increment. Only after I read those post, I know ILP are not so stable. Hence better for me to know roughly how much I am paying Vs unknown.

Soon.

I did. Took GE and exercise cooling period cause of so many GE issues Don't feel safe with them if I ever need to use the insurance.

Fi.life offers you RM1m. Is that enough for you?
https://fi.life/

Alternatively you can combine say online AIA, Prudential, Deartime, to get the amount you want. That way you save on agent commission already.

Then get an agent from the company you want to get you a quotation for the amount you want. That way you can see if it's cheaper to combine different insurance provider or go with one insurance provider.

Stinga

is there insurance plan without any investment or saving link plan? when i ask my agent, she keep telling me all insurance must link with savings.

It's not just Malaysia and Singapore bro.
Even in Germany, USA, UK, Japan, Korea, Taiwan, are all still running the agency system.
How I know leh? I join them on conventions, and still exchanging ideas with them mah
Are online providers like Cigna, Progressive, etc having market share? Yes of course, and yet the main players are still relying heavily on agency.

In fact, BNM has been making a lot of progressive improvements, moving the agency system towards advisory.
Are there outliers? Sure got lah, neh those that call you trying to push products to you lah.
Same like the society we live in loh. Mainly good people, sometimes there are those that terpesong also.
All of us go to the same schools. Are there people who turn out to be criminals? Sure got mah

Fi-Life is merely an online redistributor, distributing term life products.
Apparently now peddling their own, still sticking to Term Life, with "cheap" as the only USP.
If your assumptions are correct, Fi-Life should be the biggest insurer in Malaysia in terms of VONB by now.
Yet by every aspect of the business, it is still not in the conversation at all.

I'm not throwing shade on "cheap".
I'm just saying, it is never about the price.
No matter how much we talk about price, in a numbers product, where can it run?

If there is any insurance agent here that can explain how to maximize your tax returns it will be great. And I mean actually having the option to withdraw after say 10 years while maximizing your income tax returns

But doubt so. Most of you guys are just money grabbers that's all.

Hi bro, rilek dulu bro
The tax rebate and all is cool. Everybody make use of it.
Love the initiative in seeking out the details on your own! 
Not only that, there's PRS as well, and now very proud that I started a SSPN account for my son 

Here comes the "BUT"

The fund values in your policy are not guaranteed. Those that are guaranteed, are not great.
So no learned person trying to genuinely help you, will tell you to "profit" using these tax benefits.
Unless they cannot convince you, can't confuse you also, then they straight up con you lah.

The tax incentives indeed are cool. I max them out every year.
However, as many here can attest to, the tax rebates do change from time to time.
What are you gna do then? Change your insurance policies as and when the tax incentives change?
That wouldn't be in your best interest to do so.
Might as well just dump the money into the sea. This one no need underwriting.
My point is, there are different angles to look at the tax incentives.
Yes, it is within our interests to make full use of it, you got this part right.
However, an insurance policy will never be an investment vehicle, however much you may want it to be, it is just not.
Regardless of how nice your source of info make it out to sound. 

Since I cannot reveal other people's arrangements on my side, I use my own as an example la.
My Life Insurance coverage can previously sustain my household expenses for 20 years (if just put in a savings account and withdraw and use)
My most recent purchase helps sustain my household expenses perpetually in my absence. Cuz I damn near broke once, so very very scared my wife and kid no money.
I do the same with my customers. The intent always takes center stage.
Are there some fund values built-up in my policies? Yes there are.
Do I count on them? No
Why not? Cuz this money has its own purpose, which is to sustain my coverages to my intended time frame.
Then what do you look at? My investments loh, rent need to collect, dividends need to be reinvested, etc. Some money rightfully mine, have to grab la, no choice.

If you're deciding between an insurance commitment and an investment, if I were you, I will take care of my personal insurance first.
Why? Because I am a pretty sensible, risk-averse person.

And on a side note,
@lifebalance is a very experienced planner.
@adele123 is also a very knowledgeable and impartial contributor to this thread.

Maybe through just mere texts, it may have come across different.
I also can't tell you to just "don't take it the wrong way"... Sebab dah terang2 wrong way dah
And of course, subsequent interaction also teruk lah
Obviously it turned into an ego trip, and you found yourself in a spot rather than the answers you were looking for.
What do you think about the outcome? I leave this to you lah k?

This thread is memang good for just about anyone to ask questions. Maybe we keep it that way?
For everybody's benefit also la
And if you find some contributors in the industry that you feel comfortable dealing with, engage them in your own capacity loh.

But the way you replied to my post shows you are not much better.

Yes, I am calling you guys names but then looking at the responses you probably are exactly what I called you out to be.

Haha. Now I have to say thank you and please to money grabbers ok. you see, if you actually provide a proper response I may just apologize. But you prove to the whole world what you really are

No, I never said I know it all. I was asking a qtn right.

And why do you think you deserve my politeness. You did nothing so far except talking "c***"

Haha. Now they are your friends. So ppl who fill up your pockets are your friends right?

Nah dun think I really want to be your friend. You will probably suck me dry anyway

Freeloading. Like I said. It's not only me who will benefit but others. See your mindset? And if you provide this info you will benefit as well because ppl will come and seek your advice and buy your plans. But you probably have nothing to offer

See it's about the money in the end. You are just a money sucker that's all. Even the admin supports me as well by rearranging my post. Thank you to the admin

I never ever indicated that Singapore is better. I was just pointing out the difference in attitude between a competent and an incompetent agent such as you. And you have just proven that you have no integrity. Why be a friend with someone like you who can stab my back at anytime.

Haha. Answers. You sure can fake it right. You see, you could have made me look very bad but now ppl looking at this thread will know who you really are. You cannot even fake properly. I pity you actually because your entire life is a fake anyway

Nah you are just a lesser form of human to be honest and everyone can see that now.

Really hope ppl will be more careful from now on seeking advice in this thread.

You are no different then those in mlm to be honest. I pity the ppl who got cheated to be honest.

https://www.reddit.com/r/malaysia/comments/..._agent_finally/

Or by the way. You sure have lots of integrity reporting my post right. You told me to say please and thanks but then go on and report my posts

I wonder what kind of life you actually live.

And per usual. Report my post.
It really says a lot about you guys.

As for the latest reply. Prove my point again.
You see, as someone who is under the 22% tax bracket, it's only natural I want to get as much rebate as possible.

And why not share over here?
I am sure ppl will be contacting you if you can help them save on their tax returns.