medical inflation is in double digit and if you say return investment fund is only 2-5%, like this sure need to topup premium

This post has been edited by onthefly: Jul 29 2021, 02:12 AM

Thanks for sharing, don't mind to ask if you're your agent's Friends of allianz trying to earn 50% commission? 😉

You can feel free to refer back to your policy on the projected return on the funds performances whether its between 2% - 5%

LOL. Opps?

Yes now allianz have a friend of allianz program to earn 50% of agents commission. But i also bought for my parents and child insurance from AZ before the FoA program was launched. Why i say my agent is good because she does not just try to push sales to me, and try to cater to my needs instead (i get annoyed with pushy people). The FoA is just a bonus income during this hard times 😂

Hi sifu all, I need some advice. I plan to get a life insurance for 500k to cover for my housing loan MRTA. One AIA has quote me to pay around 492+ for an investment link life insurance for 20 years. It is worth it for me paying for 20 years? 500 per month for 20 years.. the agent told me that i can take out the money anytime if i need it.. not sure how true it is. Mind to advice. Serious yea thanks

guess I caught ya red-handed .

That being said, there is enough Allianz representative in here including myself.

Do you want to pay off your insurance in 20 years time ?

thats why i not sure.. the agent gave me a chart 10 years 20 years and up to 70.. then 70 years she say returns is lower.. 10 years is the best.. but very expensive.. i never have any life insurance so i am not sure about this

I can't advise you which to take without first understanding your personal finances background & how you could optimize your insurance planning (since I do not know what you have existing & what sort of other debts you're looking to cover).

If you want, you can always get a second opinion instead of just from one-source which is currently from your agent.

Haha but honestly i dont mind to dont earn that foa commission. It is too little. Say people normally buy insurance at Rm200-300, agent commission is 20% so rm60 a month. Then u share half, so rm30 a month for 12 months. Too much hassle for the small return. Rather let the poor agent earn, they need to earn a living also.

Insurance is a funny thing, most people dont want to spend money on it. But when u need it the most, u cant get it anymore. I was like that also, hesitant to commit myself to insurance, have to pay few hundred each month. If you go to the shop buy cake, u pay money, u bring back a cake. But if u buy insurance, every month u pay money, but u dont bring anything back home. Im still young, but i recently got to know i have early stage cancer. Didnt have any signs or family history. Luckily i have bought mine although it took me a few years to decide. So i would say i have experienced both side and i reiterate, insurance is really important because when u really need it that time, u cant get it anymore.

👍 Keep creating that awareness on the importance of insurance

yes...try to get second opinion...maybe from GE , Alianz , Prudential , do some comparison instead of just listen to one AIA agent advise

Typically, for life insurance I'd reduce the cash value to as low as possible. Indirectly meaning my premium will be lower.

Best,
Jianshesng

Hi mind to explain more.. sorry i dont understand

if it's an ILP then the premium will be split into 2 portion. 1 portion will be used to pay the cost of insurance and the second portion will be invested to ensure your policy is able to sustain for X number of years.

So for example: Let's say RM100/month you can cover RM500k for 20 years, but instead agent quote you RM200/month for the same coverage. In the second scenario, you will have more money in your cash value account. If I were you, I'd go for RM100/month for RM500k for 20 years.

So request for the Sales Illustration from the agent and understand actually where your money is going to. Then you can decide how to proceed from there.

Best,
Jiansheng

This post has been edited by Holocene: Jul 29 2021, 03:57 PM

Thanks.

Thanks for the advice.

hi jayreekazin, yes, different companies got its own strength. I believe the agent play an important role here. likely the Allianz agent is better than Pru agent in your case.

hi blabla987, btw how long is your housing loan tenure? also what is your occupation, gender, smoker/non smoker, current age? I believe if this insurance policy is only for loan cancellation purpose, you can still go lower premium.

1. the plan just valid for 20 years or until age 99?
2. do you plan to buy more than 1 house?
if no for 1. and yes for 2. you might want another plan that cover at least 80 years old

Typically a person that bought a house, in next 10 years that fella will buy another, at that time your policy has 10 years left, then you will need to buy another MLTA ( mind you that time you are 10 years older thus your premium will be more expensive)

Is tongue tie covered under prenatal insurance?

if it is born with, it is not covered by medical card. And if it is not stated as a condition under infant congenital for pre birth, then it is also not covered.

From the 4 companies that offer Prenatal, none seem to have this covered.

hi prescott2006, afaik it isn't covered. for the child's tongue tie case, did the doctor advise to do tongue-tie division procedure?