This is to ask if you want your medical plan to cover covid and any future pandemic basically. You can choose yes or no.

But what i understand is all customers will get the SMS, reply yes or no. My spouse replied Y already to the sms.

This paper is it because you didnt reply sms? Process aside, it depends whether you want to get covered or not.

How old are you? When did you buy the plan?

It is getting quite crazy lately though. Not sure how frequent is GE. Mine is HLA. Also 2020 and 2022 i think. Lost track of time.

You buy standalone medical, i see. Mine is not standalone but not that it matters. Mine bought 2014 also, got price increase in 2020 and 2022. About 20% each time.

My mother's plan is exorbitant price now. Close to age 70. Hard oo..

Hello. I suggest you email HLA and ask what are your options. Your is investment linked plan. Should have some options.

Upgrade can be...
1) old plan upgrade to new plan -- not allowed
2) old plan upgrade within itself -- allowed
3) ... Whatever other possibility.

What's your intention in upgrade?

This post has been edited by adele123: Jun 25 2022, 07:10 AM

Yup. Understandable. 250k is abit low. Do try ask HLA. Maybe they have better medical plan but not until 1mil annual limit.

For comparison, i can share with you my HLA plan even though mine is not the same plan. My annual limit is 120k. Lifetime limit 720k. It's low relatively but really we dont need 1mil also la. I would prefer higher too. Maybe >300k is peace of mind. 1mil is marketing la. Sell you things you dont need.

If you buy online, they will give you contract to read online. Download and baca.

In general, they will cover all parts of cancer. The question to ask is, do they cover early stage cancer?

This post has been edited by adele123: Jun 26 2022, 09:00 AM

Hahaha. You wish. No one will do "rugi" business. You hope at least it's not too profitable.

Should compare etiqa, see who cheaper. I personally buy from etiqa website for some basic coverage, very cheap.

Personal opinion:
CI should upgrade, i personally prefer more than 250k. As for death, you have dependent? If no dependent maybe can wait to upgrade later.

The caveat is provided you stay healthy later to upgrade with minimal hassle.

Be prepared to fork out more money ya. 300 to 400 a month is very optismistic. Even if you can buy at 300 or 400 per month, then likely 65 /66 will increase price.

My advice is apply to more than 1 company at the same time, see who accept. If one of them decline, then you can assume all will decline. So better tembak a few if can. Save time.

You should ask your agent. no need think so hard about conflict of interest. Lol.

Unless you bought the takaful version, there is no point in nominating your siblings. Well not no point but ...

The thing is, if you have spouse and nominate your spouse, then he/she will get the money. When you nominate sibling, sibling can only receive the money and distribute accordingly to the spouse

If no spouse/children then parents. Your agent should know this.

In insurance world, there are some differentiation. Not requiring medical check up, does not mean anyone with any health condition can buy.

I have not gone through the process myself but i believe they will have some criteria to not let very sick ppl fall through the crack.

But if indeed someone very sick is looking for something, no harm trying it out. That's how i feel.

It's 2 policies and 2 plans being sold to you as one package by your agent.

Without knowing your personal background you need to ask yourself some questions. You dont need to answer me

1) do you need to leave money behind if touchwood something happen to you? This will determine your life coverage.

2) how much are you willing to pay to get the necessary coverage medical and CI and also the life coverage.

3) there are probably more but i'm not trained as financial advisor of any sort...

If you ask me, the agents who quoted you those 2 plans from allianz probably came up with a proposal with your affordability in mind, not your insurance need in mind.

12k per year is it excessive? It really depends on what are your circumstances. If you are sole breadwinner, got 3 kids, 1mil life coverage, may not be enough. But does it have to cost 12k a year? That's where you need to poke your agent la.

There's 2 possible impact

1) if you buy medical when you are older, you will pay more
2) if you buy later, you might be not be as healthy and may be excluded for certain conditions OR will need pay more premium due to loading OR both.

having say that, because you are holding an ILP plan, your medical charges are being deducted every month, and it will increase as you get older anyway.

when your charges goes very high, you will need to increase your premium anyway. premium and insurance charges are not the same and not equivalent

If the estimate is until age 40 to 50, it's rather short. in theory, you can increase your premium to ensure longer sustainability. age 70, age 80.

most importantly, check if your policy can cover you up to age 100, if can, then the "easy" job is, you need to make sure you pay more so that you can sustain it for as long as you want it and continue to monitor it.

Regulation has helped. You should at least read the annual statement sent to you by Hong Leong Assurance every year, to know where your policy is. you dont need to check every month UNLESS you dont have to pay on time la.

In theory yes. My question to you is... can you guarantee, double confirm, you can monitor your policy regularly and ensure you pay higher premium at the right time?

Can you confirm if by then you need to pay extra 100 a month, you can fork out then vs if you fork out extra 50 per month today?

Hypothetical example above. Fork out now is like putting it in the tabung now. But if you are clear on how to manage, can fork out later la. But even for ppl like me, i wont cut it that close. So many things to monitor, later really oops, forgot.

Assuming HLA is good at managing your investment fund averaging 6% to 8% long term for equity, paying them earlier does not seem like a bad thing.

But... honestly i doubt it will hit this range. My doubt is not specific to HLA but to all fund managers in general but i'm sceptical.

You want to appeal, just appeal asap. No cool off. Would suggest you back up your appeal to avoid ding dong with the insurance company.

Good is...
1) do you need 2mil?
2) have you compared with other quotation?

My spouse and i do discuss what amount is needed. We factor in also other insurance from employers, savings epf, etc

So we arrived at x amount. This one really need to sit down and think or get proper agent or financial planner to advice.

So if you take the insurance agent suggestion, it's 10x annual income. But honestly. Example, someone earning 300k a year, really need to leave around 3mil? That's alot of money for insurance. Maybe cost 1500 per month just for life insurance based on what you quote here. That is before medical coverage, etc. But we dunno maybe this person with 300k earning a year, also has a spouse who earn as much. Maybe they only have1 kid. So is 3 mil enough? But someone who has 5 kids, is 3mil emough? Maybe got other assets and cash to support. So maybe 3mil is overkill.

As for online plans, it's usually simple products, less frills. Cost less. I buy online, i also buy non online products. I have 3 policies in total. Including medical, ci, life. 4.5% of my monthly salary. I feel it's slightly overkill but worry about sickness. I have 450k ci coverage. Hahaha.

Er this one also need to consult tax company? The LHDN guideline say until very obvious can.

Actually why not just claim under own self? Abit unnecessary step?

Insurance "savings" plan generally have very low return short term, lower than FD. Longterm (super long term up to age 80, 88) they can have decent return.

However, tax relief is something important too. The medical insurance and education insurance shares a category, rm3000. This is separate from life insurance which is another rm3000.

If you max out tax relief already, then really no point to buy these education savings plan. Do proper investment to save for your child's education.

First time i heard of this stamp duty. Did you reach out to the insurance company for assistance?