Financial health check will help you to understand your personal finances better.

Neh, the memo where they ask you about your neck pain, back pain, ask you to submit this report that report.. etc
That's a deferment.

Thanks but I already did it myself. Have excel sheets to maintain everything. Only thing missing is the medical aspect.

Good, that saves me a great amount of time. Now for the implementation

Kindly bring your discussion to that dedicated topic you have opened as obviously no one is keen to discuss this with you here besides MUM hafizmamak85

You come in here with nothing but speculation and your own conclusion. You're not in here for a discussion. What I can summarize from what you are bringing onto the table is "I'm unhappy with GELM, here is my wall of text of copy paste. Fight me".

Also, this is not a place to rally a support for your crusade. If you believe you have a strong case. Bring your findings to the relevant authorities. Not stir some hearsay in the Internet.

cherroyIccyAsd please be aware of this matter and move him to the Kopitiam discussion thread if necessary.

This post has been edited by lifebalance: Feb 28 2024, 11:32 AM

Moderator hebat

hafizmamak85 you should continue your discussion over your own post at https://forum.lowyat.net/index.php?showtopic=5441075&hl=

the whole discussion on this post has been going off topic for the last few pages.

This post has been edited by IccyAsd: Feb 28 2024, 03:35 PM

Anyways, here's a friendly reminder to everybody

RENEW IMMEDIATELY TODAY:
1. YOUR CAR INSURANCE
2. YOUR PA INSURANCE
3 YOUR FIRE INSURANCE
4. ANY INSURANCE THAT IS NOT YOUR INDIVIDUAL LIFE INSURANCE

Why leh?
Come tomorrow, SST will be 8%
Even if you have renewed but have not paid, so long as your transaction date is March 1, 2024, you will still need to cough up an extra 2% in SST, prorated to the coverage period.

Big thanks to @coolguy_0925 for rectifying my mistake.
Kthxbai

This post has been edited by JIUHWEI: Feb 29 2024, 12:39 PM

my client only can pay tomorrow for the Condominium Insurance.

Somethings can't be rushed cause they need the JMB's approval.

My car insurance also only expiring next month. Haiz, but good thing manage to get back 20% rebate


This post has been edited by lifebalance: Feb 29 2024, 12:36 PM

Even if you have renewed but have not paid, so long as your transaction date is March 1, 2024, you will still need to cough up an extra 8% 2% in SST, prorated to the coverage period.

So confirm even my coverage is after 29 Feb and I paid today later on won't come and ask to cough up that 2%?

Yes betul.

Why not renew now? You can renew 2 months before

thanks for reminder. Too busy renewing for everyone else but myself

I go do it now.

**Saved almost RM45 from the extra 2%. Thanks bro

Game changer for medical insurance going forward. Please read this:

https://www.bnm.gov.my/documents/20124/9380...ack-ed-mhit.pdf

Nothing new and most of them are already implemented especially on co-insurance / deductible plans.

1. A licensed ITO will no longer be permitted to design any new individual medical reimbursement insurance/takaful products without a co-payment feature or to offer any add-ons to reduce or fully waive the co-payment portion. This means that licensed ITOs must include a co-payment feature to any new individual medical reimbursement insurance/takaful products that it will introduce into the market effective 1 June 2024.

2. The minimum co-payment requirement of co-insurance/co-takaful is 5% of total claimable expenses (after deductible) and/or RM500 deductible per policy/takaful certificate year for new individual medical reimbursement insurance/takaful product.

3. A licensed ITO must also have and offer at least one co-payment product with the minimum co-payment level by 1 September 2024 unless otherwise specified by the Bank. In the event a licensed ITO does not have any on-shelf individual medical reimbursement insurance/takaful product with the minimum co-payment amount, the licensed ITO must design a new individual medical reimbursement insurance/takaful product that meets the minimum amount.

I believe Great Eastern's ILP riders don't meet the requirement. So they will need to launch a new product. Their existing rider only has a deductible of RM300 and it can be waived with another add-on rider.

I'm pretty sure the insurance companies got the memo way earlier before you release the press release from BNM. Hence why most of the implementation is already done before the due date given.

This is just a "moving forward" kind of thing on the newer plans.

Oh yes, obviously. I am just sharing here with forumers who are customers. The draft was issued two years back and companies are already working on products that meet the requirement.

Just that, now it's been finalized and in black and white.

Hey guys I'm currently paying 1.5k monthly for life insurance and I'm starting to feel it's a little heavy on my budget. I'm thinking to reduce the premium but I know it will affect the coverage.

But I'm curious how does it affect my entire policy say I reduce to 800 myr