There are a lot of things that you need to put into considerations :

1. budget - set a budget for yourself , for example monthly budget for total life insurance that you can commit

2. calculate all your asset / debt vs your income ratio to know how much you should insured on yourself.
just like you insured max amount of your car market value. If we want to insure on ourself, we also need to calculate our value

3. dependent , is there anyone rely on your to survive ? like family members
if yes then you need to insured more on income replacement / beneficiary payout in case anything happen

4. understand all policy offered by insurance company and pick the one that suits your requirements.

Suggest you to get advise from few insurance agent and make your own judgement and decision later on ?
The things is insurance itemised coverage can be customised to suits different profile and most of the time client are not aware of what they are purchasing.
Some they just hantam and buy, when claim happen only realised he bought the wrong thing.

currently you already have medical card from prubsn and aia
why not just use back existing medical card and purchase extra life/accident/CI from prubsn / aia takaful ?

This post has been edited by ping325: Sep 17 2021, 03:23 PM

ohhh sorry overlook ur statement...
many agent will pm you already to give quotation

yeap need a lawyer to sue back insurer , however case to case basis.
this china press did not reveal which insurance company and what plan the client purchase.
if the covered terms is written black & white inside initial contract but still reject claim , then chances of winning is very high.

When policy sign up , insurer will do a brief check only , they expect customer declare everything.
When claim happen , many money gonna pay out , so they will trace every single record before payment is issues.
But it really & case to case basis , have to see in details each case. Some court case win by customer, some win by insurer.

This post has been edited by ping325: Oct 1 2021, 10:44 AM

any preferred insurance company ?

Certain plan get discount if you choose to pay by yearly.

LOL , if your agent is pro , he can directly do it from our iPad system , not even need to email here and there or fill up forms.

Everything can be done digitally , just make sure that you don’t fill the 100% amount. For example you are paying 2000 premium per month. Let’s say your ilp cash inside is 18000. Make sure you only withdraw up to 16000 Max. Anything more than that will get rejected and you have to reapply all over again.

Just help client perform withdrawal digitally. Monday apply next Monday money already inside his savings account.

If you use form also can , but need email & ding dong here and there lo. Admin speed is slow. Use form generally 2-4weeks receive money.

Below are some info for your reference.


This post has been edited by ping325: Oct 7 2021, 12:15 PM

hi wong_86 As long as you don't surrender and purchase new then it is ok , nothing much to worry about.
upgrade / downgrade no issue , follow back your existing coverage

I directly copy this portion from policy document to clear your doubt

Pre-Existing Conditions means disability, illness and/or condition that you and/or the Insured Life
under the respective Annexure attached to this Policy has reasonable knowledge of
before the Date of Policy, the date of endorsement, or the date it is revived, if applicable.

You and/or the Insured Life may be considered to have reasonable knowledge of a pre-existing condition
where the disability, illness and/or condition is one for which:
a) you and/or the Insured Life had received or is receiving treatment;
b) medical advice, diagnosis, care or treatment has been recommended;
c) clear and distinct symptoms are or were evident; or
d) its existence would have been apparent to a reasonable person in the circumstances

This post has been edited by ping325: Oct 11 2021, 02:25 PM

hi your case quite similar with me. I purchased a house , loan with public bank and the banker insists to sell me AIA life insurance in order to get a cheaper interest rate.

I have no choice but to adhere with it.After I obtained the policy document , insurance agent part is actually the banker name. I guess he earn commission out of it. After that whenever I want to perform claim or servicing , this banker won’t help and he also not familiar with claim process flow / operation at all. End up everything is deal with aia customer service to resolve it.

Furthermore bank policy unable to transfer to another servicing agent 😅 both aia and prudential also the same , cannot be transferred.

It took me around 2 months for a claim of rm7000. I have to walk in and email aia customer service , plus self pay all the documentation in between which cost around 100-200 , I don’t think that can be reimburse back.

This post has been edited by ping325: Oct 23 2021, 07:54 PM

lol .... you are very details in checking out the service charges from the policy contract.
This is just one of it , there are still others small small management fees, like few ringgit, for funds management as well.

Therefore , the premium that you are paying per month,
1. Certain portion of it is paid to insurance agent [until a duration]
2. Certain portion is paid to administration
3. Certain portion might be paid to miscellaneous [ if there is any ]
4. Certain portion is paid as insurance charges
5. Lastly certain portion put into saving if your plan has it.

This post has been edited by ping325: Oct 27 2021, 10:50 AM

Advise you to perform endorsement to your policy whether to decrease , maintain or upgrade policy.

Not advisable to cancel and purchase new due to the waiting period and also by purchase new, it’s gonna be costing more. You can try to ask agent to quote and compare with your existing policy if you still want to know the price differences thou.

This post has been edited by ping325: Nov 4 2021, 07:23 PM

Since covid , repricing keeps on happening regardless whether it is investment plan / standalone.
You have to plan ahead whether to maintain / switch plan.

My mum also 62 years old already
Some tips from my past experience :
1. Insurance charges for senior citizen > 60 is very expensive,if you want cheaper can choose deductible / co-insurance
2. New purchase for >60 always need to undergo strict Medical Examination / ECG test, therefore purchase during early age is important.
3. They might not be able to fully utilise the limit given , because most of the cancer treatment / surgery are not recommend for senior citizen.
* A real case scenario where cancer strike my wife parent & he refuse to go for chemotherapy due to the suffer & pain. He rather spend his last moment peacefully with his family.
4. Some of them give up medical insurance plan and used the money for insurance legacy plan instead to pass on the money to their child.

*Most important is plan wisely & also understand your mum requirements / needs.

This post has been edited by ping325: Nov 5 2021, 11:59 AM

or start by researching or study about malaysia insurance blog sites first ?
after that get some presentation from few agents and see which you are more comfortable to go with

PRULink Assurance Account --> This is like the insurance plan label / naming , every few year come out with new naming
Policy type = Investment linked life insurance where you get the options to add accident , life , CI , medical cards , payor , savings if you need it.

RM 160,000.00 --> this refers to life / TPD
-
Rider(s) / Rider(-rider)
Crisis Cover Benefit --> this refer to one of the CI add on , again it can be in lots of different naming and coverage terms
RM 80,000.00
-
PRUDisability Provider Benefit --> this is an ancient income replacement rider where new plan no longer have , it pays 20k yearly if policy owner suffer from TPD
RM 20,000.00
-
PRUMed Benefit --> this is also an ancient income replacement rider, need to refer back contract to know more what is covered
3 Unit(s)
-
PRUPayor --> this is premium waiver , 2604 per year no need pay but still insured & covered by insurance if policy owner suffers CI / TPD
RM 2,604.00 p.a.
-
PRUMajor Med Benefit --> this is prudential ancient medical card naming as well , details like limit have to refer back pruaccess portal
Plan 200

All riders can be removed or upgrade , even the coverage period also can be modify , subject to approval.
Therefore quite flexible in my opinion , just that most of the issue faced by clients is they had forgotten what had been purchased & often upgraded things that they don't need. His insurance agent plays an important roles in solving these issues instead of miselling.

This post has been edited by ping325: Nov 11 2021, 04:17 PM

For those who would like to sign up prudential , there are year end cashback promotion start from today.
However premium need to reach certain threshold only can enjoy this cashback.



This post has been edited by ping325: Nov 22 2021, 11:43 AM

jack2if you want payable in 20 years & cover up to 99 yo for 2M life, the premium gonna be very expensive.
you can refer here :
https://www.prudential.com.my/en/products-w...pruwealth-plus/

This post has been edited by ping325: Nov 23 2021, 04:17 PM

Case to case basis , provided let’s say no upfront withdrawal performed , you still have to rely on funds performance + repricing if any. That’s why there is a clause always use inside contract which mentioned non guaranteed.

This post has been edited by ping325: Nov 23 2021, 08:05 PM

Lol , That is certainly not the case , there are many policy out there which provides partial or even 100% full refund if you stay healthy until policy terminated.
Just that customer may not aware, it is always written on all those websites , have to read it line by line.

Generally for the same amount of money paid , coverage is higher for those policy that does not have cash value or money burnt if healthy after paid.

For example :
https://www.prudential.com.my/en/products-h...nefits/prulady/
search the keyword 100% refund
* provided you don't surrender halfway

For example :
https://www.prudential.com.my/en/products-h.../prusenior-med/
money all burn if healthy upon maturity

For example :
https://www.prudential.com.my/en/products-w...pruwealth-plus/
Able to get back partial return if healthy upon maturity, provided you pay shorter terms.

And so on ..... you have to dig all the info from respective websites like AIA / GE / Alianz .

This is the reason why many rich people bought millions of life coverage and pay lumpsum / shortest term + max out maturity to 100 years.
Because they know they will pass away before 100 years old , and in their mindset as long as total premium paid < sum assured , they treat it as earning money.

Or the easiest way , some people just follow and learn how agent themself purchase insurance , learn how those rich people purchase insurance.

This post has been edited by ping325: Dec 7 2021, 02:46 PM