1. Good to have since premium is not that expensive

2. Depends on occupation, gender and other options

You won't get good replies here.
1. Read what does the waiver cover. According to my agent her client took the waiver but insurance company does not want to cover as
It does not fulfilled the definition of the sickness
Eg. Heart attack, the waiver will only cover if >=70% of blockage of blood vessel. So if the doctor report write as 60%, no waiver will be given. The waiver is pretty basic stuff unless they upgraded it.
Also the waiver won't cover any increase in premium other than the original premium. You can search this topic.

2. You have to shop yourself like what I did and tabulate the data yourself. No one here is going to help as "some people here wants payment" before giving you this info. I

You can get standalone. AIA, GE, Generali all have standalone plans. You need booster to boost up coverage to 1m+ if you are going to buy AIA or GE.

Go with AIA and take the highest deductible plan. Supplement it with gathercare. That is what I will be doing in the future. Gathercare only cost like RM300-400/year. Use gathercare as main insurance and and have savings of at least 30k if somehow gathercare does not work.

This post has been edited by Ramjade: May 16 2024, 08:18 PM

1. I know it's good to have. Actually all rider is good to have. But the thing is, is it worth extra 600 per year?

2. If occupation is just office work, male. Low risk occupation. If every metric set to be the same, out of these 4 big insurance co, which is better and which one is cheaper in your opinion

Oh one more question. What would u recommend the coverage period usually? Until 70 or 80? I think the price difference is huge.

If take standalone, is the renewal guarantee? If I got a illness one day, can they stop me from buying insurance next year? That's what the AIA agent tell me when I say I want standalone

1. My client who was 24 Yr old got the waiver when she bought the policy from me. Within 1 year, had cancer and now her policy is paid by the insurance company till age 70.

You be the judge for the above scenario.

2. It's kinda mixed as I have client looking for better overall service and quality. If you're looking for dirt cheap. I have plenty of options actually and they each have their own pro and cons.

I would recommend at least 80 since the average life span for Malaysian are around 70 to 80. Spend a little more but less headache in the future when you don't have to worry too much about topping up too much. Especially when you've already retired and don't want to worry too much about your medical insurance premium

All riders are good to have. Is
1. Whether you can afford them
2. Are they really needed.
There is no free lunch in insurance.

2. Office people more prone to heart attack, diabetes, high blood pressure because of sedentary lifestyle.

I cover myself until 80. Your choice. All boils down to how much are you willing to pay.

If you are filthy rich can buy until 99 also no problem.

This post has been edited by Ramjade: May 16 2024, 08:36 PM

The waiver is worth it if you get those really critical illness like cancer big major heart attack. Not sure if they cover for early cancer.

They are cheating you. Ask them show black and white. The only stuff in black and white writer by insurance contract are
1. Contract will be voided if customer terminate it, lapse or have some fraud.

I designed my own waiver by getting spare standalone critical illness form Singapore which is cheaper and cover more.

Very brief
AIA RM500k coverage, RM14k/year
Singapore critical illness RM500k + booster RM7k/year (in SGD).

RM500k is more than enough to cover insurance cost with lots of left over.

Of course if you just choose the traditional 36 critical illness which is what most waiver is, it's cheaper than what I have.

This post has been edited by Ramjade: May 16 2024, 08:41 PM

Old, retired and can't work can qualify for waivor? My concern is I worry the waiver only will activate when my critical illness is end stage and I'm half dead . Like that no point alrd right? If early stage can activate waivor I will confirm take it.

That's why read the terms and conditions of the waiver. I was thinking of getting the waiver until my agent told me her story.

That's the reason I design my own waiver. Any stage of critical illness I will get paid out.

You buy and continue to pay the payor waiver clause just like your insurance plan.
Buy before it happens as you will get peace of mind knowing that your insurance plan will be continued to be active as the premium are being paid for by the company, when you can't pay due to illnesses.

If you think you hv the mean to continue to pay the insurance premium when you are sick, then dont buy the payout waiver coverage.
Just like some think that it is more fruitful to invest on their own with the money meant for insurance coverage, as they think they can reap more, no need to pay agents commission, etc etc.

This post has been edited by MUM: May 16 2024, 08:59 PM

Anyone take the ilindung from EPF? Seems like a good way to cover for critical illness. wondering how much cheaper compare to buying from agent?

The best way to compare is with other online products. You can look into fi.life critical illness part just as benchmark and also generali ecritical care. Other companies excluding those on EPF already probably also has CI coverage, just need more time to search for it.

The problem with EPF and online products is they probably cant give you comprehensive coverage at the most cost effective price because they make it easy underwriting process which means the insurance company has to charge more due to perceived increase in risk. Of course, there's no agents commission but there is some offset effect.

Generally product features are more comprehensively designed via the agents. Because through platforms like EPF, product design are kept simple because no one is there to explain complicated matters to the person buying.

Yes the AIA standalone plan comes with guaranteed renewal.
Maybe you need to be talking to another AIA guy, my guy.

Standalone plan may have renewal guaranteed, but will the quantum of increase of the medical insurance premium be such a shock which can be a burden especially after 55 age bracket?

I believe there was a similar discussion that happened some time back, on this thread actually.

We're today years old today and only aging further. So we are looking at the chargeable premiums increasing as we age.
That's what it is. If there is something to argue about it, then we wouldn't call it facts right?
Who argues with facts?

So then we can buy our medical insurance as a standalone or as an ILP in Malaysia.
Buying a standalone medical insurance, you pay the chargeable premiums.
Buying an ILP medical insurance, you pay a levelled premium, to hopefully pay the curve throughout the years.
It's just 2 different arrangements catered to different people with different styles and their own respective approaches.
Just like badminton rackets, pick the weight distribution to fit your playing styles.

Buy a standalone medical insurance because it is cheaper? Yes, do it. And then prepare for the increasing premiums, especially towards old age.
Buy an ILP to evenly distribute the payments over the years? Yes, do that. Then pay a levelled premium on it.
Buy a term life insurance and invest the rest? Do it! Then anticipate to review regularly, preferably before the term ends.
Buy a whole life insurance? Sure!

Whatever the arrangement is, there will be pros and cons to it.
If I'm going for the pros, then I'll have to deal with the cons kan? One way or another, we make it work to derive the benefits that we want. Same as how we go through just about every decision we make.

So to answer your question, the premium pattern is laid out right from the get go for all to see and refer. The medical rate hike is also being discussed constantly because nobody is missing out on the news.
So if the person is buying a standalone medical insurance, then he/she has to then prepare for the increasing premiums.

Standalone or ILP, both medical insurance coverage premium also rise together with age. No different.

The difference is ILP, you pay more upfront and the money channel into investment product and hope for some good return then can be withdrawn out to cover the rise of medical premium to soother the future total premium increase, but if the investment doesn't make return (it can be losses, no guarantee), the soother effect may not have.

ILP premium is never guaranteed to be fixed. When the pool of ILP money inside ILP is not enough to cover the rise of medical insurance cost, it will be raised.

Yes both ilp n standalone will hv rate increases but I belives the quantum of rate of increases of standalone will be more than ilp. (Already paid more ilp premium over the years already. Ha ha)
Thus if one is not fully prepared mentally and financially, the quantum of rate of increase of standalone medical plan would come as a greater shock than ilp plan when nearer to retirement age

This post has been edited by MUM: May 17 2024, 09:19 AM

Actually not true.
ILP riders do enjoy a lower COI charge, but both are affected by rate hikes at the same rates ya.

Whether more or less. Each product has their own pro and cons.

You just have to see which suits your style.

ILP will be for people who want more insurance coverage under a package while being able to participate in investment for some returns.

Alternatively term insurance would be for people who are on a low budget or don't need all kinds of insurance coverage.

Is it more expensive overtime? Definitely.