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

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.

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

May I ask how much is your life insurance coverage and premium? I'm meeting my agent when he comes back from his course. Need to see the average people pay. Many thanks

Better to ask GE. It should be written in the letter.

But as I know, it's usually option 3.

Better to ask GE. It should be written in the letter.

But as I know, it's usually option 3.

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.

Hi all, appreciate some advice please.

I bought my P brand medical card (with ILP component) for more than 15 years now and here are the details:
- Premium: RM250/month
- Sum assured: either life, TPD or CI 80K
- Hospital & surgical: coverage age till 70, room & board 200, annual limit 75K, lifetime limit 780K, hospital benefit 150, co-payment 10% min 300, max 1K
- Accidental benefit: personal accident 100K

I have been pretty ignorant and recently learnt that the benefits for my plan are very subpar as compared to the new plans in the market now so i asked my agent to quote for an upgrade, and these are what she proposed:

Proposal A
- Premium: RM500/month
- Sum assured: either life, TPD or CI 80K
- Hospital & surgical: coverage age till 100, room & board 200, annual limit 2M, lifetime limit n/a, hospital benefit 150, co-payment 500
- Accidental benefit: personal accident 100K

Proposal B
- Premium: RM350/month
- Sum assured: either life, TPD or CI 10K
- Hospital & surgical: coverage age till 100, room & board 200, annual limit 2M, lifetime limit n/a, hospital benefit 150, co-payment 500
- Accidental benefit: personal accident n/a

My objective is for medical card only. Are the quotes reasonable?

Thanks.

Hi all, appreciate some advice please.

I bought my P brand medical card (with ILP component) for more than 15 years now and here are the details:
- Premium: RM250/month
- Sum assured: either life, TPD or CI 80K
- Hospital & surgical: coverage age till 70, room & board 200, annual limit 75K, lifetime limit 780K, hospital benefit 150, co-payment 10% min 300, max 1K
- Accidental benefit: personal accident 100K

I have been pretty ignorant and recently learnt that the benefits for my plan are very subpar as compared to the new plans in the market now so i asked my agent to quote for an upgrade, and these are what she proposed:

Proposal A
- Premium: RM500/month
- Sum assured: either life, TPD or CI 80K
- Hospital & surgical: coverage age till 100, room & board 200, annual limit 2M, lifetime limit n/a, hospital benefit 150, co-payment 500
- Accidental benefit: personal accident 100K

Proposal B
- Premium: RM350/month
- Sum assured: either life, TPD or CI 10K
- Hospital & surgical: coverage age till 100, room & board 200, annual limit 2M, lifetime limit n/a, hospital benefit 150, co-payment 500
- Accidental benefit: personal accident n/a

My objective is for medical card only. Are the quotes reasonable?

Thanks.

I am 41 this year.

Is it due to the waiting period or other reasons? Also not sure if this helps, but the agent told me that i have close to 30K in the ILP "pool" that keeps the premium "low" in her proposals.

can scout online first to get a sense of the cost. i myself bought online but the premium will increase as i get older.
in most normal cases, it works about the same. you buy a policy, you nominate someone to receive the money, if you die, your nominee gets the money

now there is some slight difference once you look into the details. so if for example you bought a "life insurance" of 500k and you want to give this money to your sister if something happen to you.

if you (non-muslim) buy a normal life insurance policy, you can nominate your sister. but your sister will only receive the money as executor. if you did not live a will behind, your sister has to distribute the money following distribution law because the money forms part of the estate. if i'm not mistaken, you need to state in your will to ensure your sister receive the money without being challenged by say, your parents. whereas had you nominated your parents, they would get the money (assuming no spouse and child in this example)

if you bought a life plan under takaful, your sister will receive the money as the beneficiary (provided you indicated so when you did the nomination) and your sister will receive the money as beneficiary and cannot be challenge. and this does not matter whether you or your sister is muslim or non-muslim.

PS: there are many details i choose not to explain because i think i should focus on what is practical. but i will just usually just buy whichever is cheaper, be it takaful or otherwise. the issue i highlighted above can be solved in a will for a non-muslim...