Are you open for a Financial Health Check?

It tells you exactly what amounts to have for a coverage, and exactly for what reasons.

Biggest liability only home loan, no car loan. Net combined income 20k. Amount left after needed expenses, around 10k.

If any thing like CI or semi TPD, (loss of 1 arm or just 1 leg below knee) we're to happen to you, .... can your wife or other family members support your 2 child till working age?
You got no mrta to cover your housing loan incase of (full) TPD too..

This post has been edited by MUM: Mar 19 2024, 03:21 PM

Yes, but cannot expect with the same lifestyle now ba.

The AIA one?

Is that okay with you and your family, if just if there is a possibilty of that to happens or you would rather mitigate that risk by paying for it??

That's why I am thinking to increase the life insurance.

Yes, increase, but I believe not just focus on life/tpd insurance....
Thus I would support the call of forumer Jiuhwei for you to have a financial health check

Get a financial health check done.

Annual income around RM216K . CI coverage RM200K

If strike by critical illness need to rest for uncertain time period, ok good to have medical plan.
How bout monthly income? Current CI will give you RM200K. Ok lah still can tahan 1 year to pay housing loan & daily expenses.
But oh ... daily expenses cost will increase to take care illness patient. Including better organic food. Traveling cost in / out hospital.

Imagine, then you know how much you need and plan for it

Hi all, I upgraded my insurance as below:

Gender: Male
Age Next Birthday: 33

Monthly premium for all ILP
Medical Insurance: RM 7.3 million annual limit (no lifetime limit)| RM 325.50
Critical Illness Insurance: RM 150k sum assured | RM 150
Life Insurance: RM 1 million sum assured | RM 650

Total premium payable per year: RM 13,506

Considered top range in my profile, if based on my age group and gender? It is over charge / paid?

Will upgrade in 4-5 years if my income is high enough.

My preference as below:
- prefer comprehensive coverage (not basic or minimal) for each medical / critical illness / life
- longer policy sustainability during older age like 40-60
- cover until age 90-100
- buy higher coverage during younger age so no need to pay higher premium if upgrade during the old age (40-60).
- investment thingy I don't look at it, I just want comprehensive coverage as possible

I am not sure if all traditional policies (standalone) have lesser coverage compared to ILP, regardless of any insurance companies? someone advise me

or traditional policies more worth?

This post has been edited by X-SenZ: Mar 20 2024, 02:05 AM

Mind asking, ...for this 7.3 million medical insurance coverage, ....what is the premium for age range 60-65 ? The details should be obtainable from the policy

This post has been edited by MUM: Mar 20 2024, 01:52 AM

Won't know your profile to advise. Perhaps if you are willing to do a financial health check?

age until 75 is RM 325.50 as maintained (maybe increase in some years as inflation goes)
age 76 onwards then RM 960.00

This post has been edited by X-SenZ: Mar 20 2024, 02:00 AM

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

Wow, thanks for telling.
7.3 million coverage for RM 325.50 pm. (325.50 X 12 = 3.9k pa) from age 33 till 75
Premium for medical plan that never increase unlike as in the example posted in the attached image.
Mind telling from which Insurance company and the name of the plan?
Thanks in advance

This post has been edited by MUM: Mar 20 2024, 05:51 AM


Attached thumbnail(s)

I am just comparing apples with oranges.

If by just looking at the numbers,
Your CI, RM7k for 500k coverage
His Medical, RM 3.9k for 7.3 million

If only that 7.3million allows for overseas treatment too.

Ignore those saying kena corned. Unless can proof it and complaint to BNM / OFS
20 years ago medical limit around RM50-100K, people who still stay with it feel useless when come to seriouse treatment.
A friend told me yesterday her auntie admitted to ICU 1 night cost RM50K, limit burst then find way want to transfer to gov GH.
Since 2020, I have seen a few medical claim near to RM1 mil in my agency. Even over RM1 mil from news.
What if you can't apply any other medical plan due to health issue in future? This RM7.5 mil annual is long run risk protection for your next 30 - 40 years.

Kopi old time RM0.50 cents only. Now ...? Can know next 30 years how much will increase?

Back to your question. Technically I'll say you still short of CI coverage.
But can't comment much base on surface data. Can only advise after policy analysis. Then feedback base on policy contents for your financial risk / health / needs.
Traditional plan always lesser coverage compare to ILP, anyhow it is good for long term planning with guarantee premium , cash & maturity.
There are benefits combination traditional cum ILP. If fit your need.

This post has been edited by tyenfei: Mar 20 2024, 06:49 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