If no dependents, ...
Hopefully still has enough for after death matters, preferably with a will made known in advance.

Unless, the siblings, relatives, neighbours or friends has the Financial means,
The handling process and placements of the after death situations may be not as per desired when alive

Yes can be one of it but I think I can leave some from other savings to fund this rather than depending on Life

Anyway you are right not to expect others to fund it even they are capable

personally, i feel dont need

but recently got a few ideas that i think are worth considering although i dont agree fully

1) small amount of life insurance can be used as funeral expense coverage. for chinese, i think we know it's usually very expensive. so 50k is probably not a bad place to start

2) someone here mentioned the older generation that dont have medical insurance, can continue to keep some low amount of life insurance. once passed away, can use that money, pay back to the relatives to "compensate" the medical expense.

PS: I'm not financial planner.

This post has been edited by adele123: May 14 2024, 06:28 PM

Yet for my policy giving RM50k say.. and paid since 2005 don't think it is worth if stop now

Rather continue paying and give it to my bro if I don't have my family end of the day

Also in a similar situation and got this offer from my agent.

Currently paying RM450/month for A-Lifelink + medical RM1.5M annual coverage amongst other riders. Agent offered me this A-Plus Health 2 medical upgrade for additional RM30 per month which includes increase of annual limit for RM1.5M to RM10M.

Sounds too good to be true. Wanna hear any other opinions on this? And if there’s any catch i need to be aware of? Thanks!

If too many people claim >1.5mil per year, the insurance company will just increase your price according to the claims experience. That's the "catch" per se. It's "free" for now but there is still cost tied to it eventually if not today. Hope that make sense.

Hi Sifus my GE agent just asked me to surrender my Medic Xtra -99 plan and purchase SmartMedic Shield+SmartMedic Shield
Extender plan. May I ask if it is possible to upgrade the existing old plan instead rather than surrendering and buying new plan? I would like to avoid the reset of contestability period.

Ok! So whether I take it on or not, eventually i will still be affected by the general claims experience right? T__T haha

Ask your agent to fuck right off and report to GE.

You can do a direct upgrade. You will still be subject to contestability period and medical underwriting.

The stupid part about surrender is that you will forgo your current allocation rate (which should be 100%) and start back lower. So basically you will eb bleeding money the first x years while your agent makes bank.

Be sure to report such unethical agents.

This post has been edited by contestchris: May 15 2024, 12:26 AM

Your medical plan is most likely a rider. Means it is an add-on to your bsse plan which is most likely an investment linked plan. When it is a rider, you can technically delete the rider and choose to add on another medical rider. Usually the waiting period of 30 days / 120 days will be applicable. However, during the waiting period, the industry practice is that they pay you based on your old medical plan.

If this is what your agent is doing, ok, this is fine.

If you need to surrender the entire old policy and buy a new one, this one is not so fine. Lazy to explain why.

For some exceptional circumstances, like the 2 aia customers here, they manage to receive an offer to upgrade, they usually make it seamless and waive underwriting requirements.

Note: do your due diligence, i dont work for GE nor i am GE agent. I just give most likely scenario ane industry practice. You ask the right questions to your GE agent after this.

You are right. What you can hope and cant control is everyone stay healthy so everyone pay less.

I think your agent just wants to earn new policy commission by asking you to surrender your old policy and buy a new one.

Maybe just get a new agent. I wouldn't want to continue with an agent like yours.

This is a Guaranteed Issue Offer from AIA. I also reaching out to my clients on this offer.

I myself took it up for myself and my wife and kid too.
For 2 main reasons.
The more attractive one for me is the post-hospitalization benefit extended from 150 days to 365 days.
Then of course, 10m is an added plus.

For those reasons, I took it up.

Surrender old plan and getting new plan, has a risk of pre-condition especially one is already aging.
You don't know what medical condition you may already have prior pre-subscribe the new plan.

Medical insurance is not like PA or others type of yearly renewal insurance, whereby you can ditch old plan and getting newer cheaper plan without risk.

Would like to ask the Sifus here.

I heard that when doing 'extreme sports', which is not covered, will result in rejects when submitting medical claims. Is cycling (like 100-150km) an extreme sport?

TQ

That depends ya, there are specific criteria to fulfill to be categorized.

This post has been edited by lifebalance: May 16 2024, 11:29 AM

So long as you are doing it in your own leisure capacity, then yes, no issues.
What makes it not covered is if you are performing the activity in the capacity as a professional athlete, meaning you derive some form of wages/remuneration or benefit for performing the activity.

In addition, so long as the activity is within the range and limits for leisure.
For example: mountain climbing altitude below 4km, diving no deeper than 20m, within certain distance from shore, etc

This post has been edited by JIUHWEI: May 16 2024, 11:36 AM

Just an example, For differences comparison between the normal pa and sport pa.

https://www.msig.com.my/personal-insurance/...sonal-accident/

https://<link removed>/2016/03/04/racing-not-c...insurance-piam/





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Yes, that's a great point you brought up.
Racing of any kind are all standard exclusions, except for racing on foot.

Of course, this is a forum post, not a policy contract.
For the full list of exclusions, please kindly refer back to the policy contract.

This post has been edited by JIUHWEI: May 16 2024, 04:53 PM

Currently surveying insurance and have some questions to ask. I'm 25, looking for plan that sustain till 80 years old.

1. Is payor waiver necessary? Currently I have a very good saving and adding this waiver will add Rm50 to my monthly premium which is Rm600 per year.

2. If let's say we compare apple to apple. 1-1.5mil AL, 200 Room and board. Life insurance set at minimum (10-50k), (Critical illness, personal accident, waivor) all removed, which company is cheaper? AIA, Allianz, GE, Prudential.

Although I have money I would like to keep the premium at minimum, if possible I want to get a standalone but all the companies have a very bad annual limit for standalone plan. If anyone got good recommendation can let me know too.

This post has been edited by bogletails: May 16 2024, 07:45 PM