I have a very old all in one insurance medical card which which i bought very long time ago. I have some people advice me that I should top up / upgrade my existing card than getting a new coverage plan from other insurance company. It will be cheaper and worth it. Is this true ?

Do I need life insurance it I already have MLTA?

After accounting for the house, I have around 200-300k excessive for my beneficiary from my MLTA.

Now question is I also have life insurance of 200k

Should I just cancel life insurance? I'm paying it like 5% of my salary.

I feel that the life insurance is unnecessary but who knows maybe I am wrong?

That being said, ILPs are designed to be a Level-premium product. Which means you are supposed to pay a certain premium figure (level) forever, that sustains the coverages that it encompasses.
Whereas standalone medical insurance may appear "cheaper" from the start, but the premiums increases according to age at an exponential scale. It gets pretty scary at later ages when we need it most.

So you see, it is not absolute which is "cheaper" or "better".
It's whatever works for your goals and objectives.

Just for discussion sake, ILP has adjustment/increment on the premium too when it cannot sustain due to watever reason(medical inflation rising higher then investment portion,etc )

So end up ILP still need to pay higher like standalone.
What your comment?

hi onthefly, indeed the premium for ILP aint guarantee and is subject to change should the insurance charges increased or funds performance is unable to sustain the policy until coverage term. if you are just referring to medical card, standalone premium is also subject to change. the reason of looking into ILP plans is if you wanna have something that standalone plan doesn't have, premium wise, i will say treat it as the same. it will be too technical to go into in depth discussion. perhaps you can ask a few agents friends and see how they explain to you.

btw the question you raised is good :thumbsup:

How about this..website say same contribution yearly..but PDS said not guaranteed. Can lodge complaint for misleading marketing?

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This is my consideration previously.

I prefer MLTA/MRTA over life coverage. I got family and multiple properties, so instead buying life, i go for housing insurance instead. If i died my family can inherit my properties or maybe some cash value with my current mortgages.

I got such plan because im tend to becoming a property collector, a newbie la of course.

I have a complex NCD question. Need clarity and guidance.

CAR 1 - Honda City - Current NCD 45% - Renewal is Dec'22
CAR 2 - Wira - Current NCD 25% - Renewal is Jul'22

NEW CAR - Plan to buy New Honda Civic

What I want to do is-
1) Withdraw 45% NCD from Honda City to the New Honda CIVIC
2) Honda City now sits at 0% NCD. Honda Civic at 45%
3) By July, renew Wira insurance and move up to 33% NCD.
4) Withdraw this NCD and transfer to Honda City
5) Honda City now 33% and Wira at 0%
6) In Dec, renew Honda City insurance with 33% NCD.

Will it work in this manner?

Nobody understand what u saying 

Just for knowledge, is it better to split out 2 different policies - one for life and another for medical? Or better to have in one policy?

Hello all sifus,

I have a doubt and hope if you could give me some guidance here.

I am 41 years old and non-smoker, and just about to enter into 42 years old soon in coming April. And I have been having one insurance plan with Prudential since Y2010 when I first started to work. The plan is a very basic Pruhealth plan with just about RM188 per month, that covers the following:

Medical card annual limit RM62,500
Lifetime limit RM225,000
Room RM150/day
Life benefit: RM10,000
Critical Illness: RM50,000
Critical Illness type: 36
Hospital benefit/daily allowance: RM100/day
Plan sustainable until age 70

I know the above plan is too old and may not even be able to sustain with today's (and even future) medical cost.

So I rang my agent and just to see if I could opt for upgrade so that I could get something more sustainable, but the quote I get by increasing the annual limit to RM1 million (and no lifetime limit), and RM200/day for Room on above will get me to nearly RM400 per month premium.

But if I get a new plan quoted from GE I could also potentially getting slightly better in terms of overall benefit and coverage, yet with almost identical monthly RM420++ premium amount.

Here is the new GE plan that quoted for me:

Plan: Pruvalue
Medical card annual limit RM1 million
Lifetime limit: no limit
Room RM150/day
Life benefit: RM50,000
Critical Illness: RM50,000
Critical Illness type: 45
Premium waiver
Plan sustainable until age 80

Monthly premium: RM420
So I am a bit puzzled here. Because I was advised by many that usually customer opting for upgrade on their existing insurance plan wouldn't normally have to pay so much of the monthly premium compare to taking any new plan subscribing?? Did I miss anything?
Can sifu here guide me which option should I opt for? Upgrade existing or go with new plan from GE?

Thanks

Yes, that's why from value proposition it seems like Pru is not giving any better offering for existing customer with old plan like me.

Guys. Anyone received sms from prudential on

1. Extend medical card to 100 years old
2. Covid 19 claim will no longer be an exclusion.

Oh, not really aware on what's the difference on the nomination part. Care to explain more? Thanks.

Hi all, close to 9 years I never revisit my insurance policy.
One thing I don't like my agent is she always quote very high price without considering what client need. (She is my relative, that's why)

What is the advice for me to initiate discussion with her to revisit my policy?

Hi All,

I am currently 33 years old and looking for a medical card.

It is better if it covers outpatient specialists as well.

Any recommendation?

Currently, I already have an AIA medical card covered for a certain disease or only for accident, surgery, and hospitalization.
Now looking for another one which cover for outpatient as well.

How bout specialist follow-up?

If let's say today my neck pain, i get a referral letter to see a specialist, will the outpatient be covered under medical insurance?

Based on my understanding is not covered unless need surgical or hospitaization correct ?

Hi all, looking for advise on my financial planning, esp. on insurance part. I really think I overpaid.
Anyone who provide the service can pm me, thanks.

Prudential.
I have 8 policies worth more than 10k annual. (my previous agent was a sneaky guy).

does anyone know where i can read basic information on insurance?

i have come across terms like:
- whole life insurance
- term insurance
- investment-linked insurance
which i don't understand and how to consider them to decide on my suitable plan. can anyone help?

i am currently only having medical coverage. thinking to have life-insurance (with possibility of covering critical illness too). from what i gathered, life insurance is broken down to:
i) death
ii) tpd
iii) accidental death
iv) anymore i missed out?
what are the differences with the coverage from i-iv? and how does it fit into my plan of getting a life insurance with critical illness coverage?

thank you for the reply. may i know what's the pros and cons of term plan or whole life plan? can i assume they are like "prepaid" and "postpaid" phoneline plans? 
term plan = "prepaid" = short term?
whole life = "postpaid" = long term?

and also, those investment-linked plans, are those made for those whom do not have other financial plans already? can i assume if already have other investment plans, those investment-linked plans can be ignored? do they actually provide much value in terms of return at the end? is there a rough average percentage?

if im 30+ single, stable job with rm5k/mth, low risk, no chronic diseases, non-smoker - would you suggest for whole-life-plan or go for term-plan first?

i noticed term plans usually only covers death and tpd, while whole-life plans covers more (accident, illness etc?) - or is it based on the type of plans different companies offer?

is there any recommendation of any plans from any companies that you are aware off that suits my current needs/profile?