boss, ru Keith Hiew?

No

dear sifus,

any advice for Family Medical Plan?

for H (1984) W (1989) and 2 daughters (2015 n 2019)

currently i'm paying RM 860 for all the above medical cards (with ILP and some small death / tpd / CI benefits)

looking at some family medical cards, some costs only between RM 250-550, but of course without ILP and small death / tpd / CI benefits)

perhaps for the death / tpd / CI benefits, can buy under a better policy?

kindly advice.

Its not a new policy though, its an existing one. I saw a notification in 2020 for medical rebate in MyAIA, the rebate was scheduled for Feb 2021 but I don't recall getting it on Feb 2021. so........ I think its probably that.

Here you go.



This post has been edited by lifebalance: Jun 9 2021, 02:53 PM

There are many plans around, I'm sure some agents are going to directly PM you with standalone and ILPs soon.

Question is
1. Have you sorted out your insurance protection on key areas?
2. If not, why not?
3. Then why not integrate an all-in-one plan and make sure it covers the key areas & medical?
4. Have you sorted out Children Education?
5. What do you want out of this Insurance?

Average premium for 4 ppl is ard RM200+-/person. Just that all policies are in ILP package.

death / tpd / CI benefits, most critical is for you to top up for urself since u r the provider for the minor children.

yeah I saw that too in the 1st notification letter. The rebate was supposed to come end of Feb, but seems like......... delay eh

Thanks for the clarification

you're welcome

I'm studying TPD offering from GE & HLA.

GE = up to 70 years old (standard stuffs here) - no extension whatsoever after 70 years old

HLA = "TPD" up to 65 years old and "OAD" (65-100 years old)


HLA's sounds interesting but too good to be true. I'm skeptical about this OAD (Old Age Disablement).
Can anyone share its T&C?

OAD is something you can say it's extension to TPD (which normally expires between age 65 - 70 depending on the company's T&C), thus having the OAD will help you extend that coverage beyond till age 100.

nothing skeptical about it. Some of my clients bought it because they feel that during old age, the tendency to unable to perform certain task in life could render under the category of "disabled".

As long as you're unable to perform 3 out of 6 Daily Living Activities, you'll be eligible to claim for OAD (this T&C applies to TPD as well)

What are the 6 Daily Living Activities?



This post has been edited by lifebalance: Jun 9 2021, 11:23 PM

Hi sifus,

I bought ILP insurance with AIA for my wife (1986) bout 6 years ago with premium of RM2,804 per annum. The details is as follows:-

Coverage Start End Premium
A-LifeLink RM52,500.00
ALL1 A-LifeLink RM52,500.00 21-Jul-15 21-Jul-87 RM1,400.00
ADC1 A-Plus DisabilityCare RM52,500.00 21-Jul-15 21-Jul-57 0
ACL1 A-Plus CriticalCare RM26,250.00 21-Jul-15 21-Jul-87 0
APM1 A-Plus Med RM1,110,000.00 21-Jul-15 21-Jul-87 0
APB1 A-Plus MedBooster RM1,110,000.00 21-Jul-15 21-Jul-87 0
APS1 A-Plus Saver RM0.00 21-Jul-15 21-Jul-87 RM1,404.00

Fund Value as of now is RM4219.79.

Now, i am trying to cut down the premium, and i wonder what option do i have.

Actually i only need the medical card for her coz she not working, can i just change it to pure medical card? Any disadvantage of this? What happen to the fund value then?

Can i remove the life insurance, disability care and critical care? Probably can save few hundred here i believe?

The premium of RM1400 for "A-LifeLink" is the insurance part? and the RM1404 is for investment? is this correct? If so, can i discard the investment part and only pay for the insurance part?



For myself (1986), i have AIA Mediplus card since 2006, so the benefit is not that good. Coverage as below:

Medical Limit/Year Your Lifetime Limit Premium
RM110,000.00 RM330,000.00 RM1,238.00
Room and board RM180, deductible RM50

Can i change to the current latest medical card? What are the cons that i need to be aware of?



For both of the above, i want to avoid having to sign up with new plan and thus need to pay the commission all over again.

Thank you.

This post has been edited by ntdote: Jun 11 2021, 01:55 PM

Hi there,


The disadvantage would be, you'd lose all the other coverages beside just the medical card.

However, if you're really pressed for money now and you need the money for living expenses, you can choose to withdraw some of the cash value within the policy since you mentioned there is RM4200 inside. However, do note that you'll still have to commit to the monthly premium even if you did a partial withdrawal.

If there is no other choice and the above recommendation doesn't suit you, then the only next course of action is to terminate the policy and opt for a standalone medical card.


You can opt to remove the riders such as CI and reduce the sum assured of the death and disability benefit to RM6,000 but seeing the amount covered is low, it won't cut much on the monthly premium


Can't, because this is an investment link, you can't just make switches like that, you'll have to change the policy type if you wish to change from ILP to Term.


Can, it can be upgraded.

Thank you sir.

For the ILP, do you mean that i still have to pay the original premium RM2804 no matter how i re-structure the policy? Or can i opt to reduce the investment amount to say RM400 instead? This way it would still be ILP and premium would be RM1800pa.

TQ

You can request to reduce the premium payable. Get ur agent settle for you.

Without going into the merits of your decision or it's consequences; you can maintain your current ILP, reduce your Sum Assured, cancel riders that you do not want, look to upgrade to a better medical plan. This may reduce the premium too based on revised policy.

Concern: Your wife may be subject to underwriting for upgrade/new plan. But there are occasional periods where upgrade is offered by the company without further underwriting, you may want to check with you Life Planner/Customer Service.

Hi, not sure OAD is a 长照險？i heard this chinese term from Taiwan article.
And i always wonder is this kind of insurance available or common in Malaysia? I am 39 now and interested to have this as a rider (not sure is this consider as rider?). Around how much the premium?

I asked my agent (Allianz) before but he said Allianz do not have this OAD..hmm..

Allianz doesn’t offer such benefit.

You’ll be surprised that the premium is quite affordable and it’ll be able to compensate you for long term care and easily provide you as income replacement. It’s highly customizable but I’d rather consult first before advising.

Would you mind to share which insurance company offering this kind of insurance with the best coverage and price?
Thanks!

Hi any agents can give free advise on what's the best Life + Medical + CI coverage combination?

Life - Is there a formula on whats the best coverage amount?

Medical - Im going for RM300 as room and board...since most private hospital in KL/Selangor is around RM300 for a single bed. RM1.5mil annual limit and unlimited life time. Coverage year until 60, renewable afterwards, with highest deductible (since employer cover too), and retirement option

CI - Is there a formula on whats the best coverage amount?

This post has been edited by Oklahoma: Jun 12 2021, 05:56 PM