Dear YK looi,
if talking about child policy. Your are the policy owner and ur child is the Life assured. in the policy contract we called it "Vesting Clause" when the child reaches 26yo where the payer benefit cease age. Read my print screen from policy contract. 

is not done by "absolute assignment" but vesting clause.

Adult policy don't have this vesting clause only apply on child policy. refer my print screen for more information.



For wan tan mee's case, better refer to ur policy contract and find this statement "if the policy owner death, all her interest, power..  shall transfer to the life assured." Kindly read through the contract to clear ur doubts. Policy contract is much better than all the guessing here.

so if before 26 yrs old or lets say at 20 when my children started to work and had money of their own....can i use "absolute assignment"

for 1tanmee case,....what if the policy owner is not yet die, cannot transfer?
mind telling what type of insurance are having that now? so as to take note of them and tell my relatives and buddies about it.

so if before 26 yrs old or lets say at 20 when my children started to work and had money of their own....can i use "absolute assignment"

for 1tanmee case,....what if the policy owner is not yet die, cannot transfer?
mind telling what type of insurance are having that now? so as to take note of them and tell my relatives and buddies about it.

Etiqa called me and say they don't offer takaful medical card anymore. It must be attached to some kind of other plan. 

Question about Takaful Malaysia myClick Term, if I apply that with CI, does it mean I don't have to apply myClick medicare ?

I recently got whatsapp from my agent telling me my application got rejected due to medical conditions (that I am too shy to share here). I waited months and did my due diligence by giving documents. 6-7 months and the answer is rejected. I am sad and in despair…

Applied to PruBSN…

Etiqa called me and say they don't offer takaful medical card anymore. It must be attached to some kind of other plan. 

Question about Takaful Malaysia myClick Term, if I apply that with CI, does it mean I don't have to apply myClick medicare ?

I recently got whatsapp from my agent telling me my application got rejected due to medical conditions (that I am too shy to share here). I waited months and did my due diligence by giving documents. 6-7 months and the answer is rejected. I am sad and in despair…

Applied to PruBSN…

hi zzzxtreme, I didnt see this myClick product from the online platform anymore. do you mind to share the link?
hi Leo, 6-7 months is a long wait. i don't think the process take that long actually. by right the last document you submitted for company underwriting, within 30 days (or maybe max 60 days?) should have result already, unless within this 6-7 months there is medical checkup that you went to and more medical report needed to be retrieved from hospital. well, just to be specific, your application is declined or postponed? you can also try luck by applying with other companies.

Yes, the information given by the customer service is right. Your wife can't transfer the ownership back to you and she can't absolute assign the policy back to u as well. She only can absolute assignment this policy to another person (e.g your mother) and not you. Not recommend you to do any absolute assignment later make the situation even more complicated. Stay as it now.

No worries, I have done a case like your situation. Policy owner passes on and inform company by submitting the necessary documents e.g: death certificate, sign a Statutory Declaration with CTC from commission of oath then successfully transfer back to life assured.

A contract between the two persons is referred to as a contract between 2 parties. Party A and Party B.

When a 3rd person appeared in the contract but without any contractual duty, then he is considered a thirty party.

Eg. I bought a policy for my children. I am the policy owner and the 1st party and will pay the yearly premium. My children are the 3rd party. The insurance co is the 2nd party who will pay a claim for any injury or medical claim. The money goes to the policy owner and not the 3rd party.

3rd party dont have contractual rights.

The above is my opinion and a simple explaination and one must further read the contract tnc for additional or exclusion terms.

All employees under a company insurance are considered 3rd party. Any claims money goes to the company.

Thanks for the reply! and if I could enquire two concerns of mine, and hope you can enlighten me further:

1- Why is it that she can transfer it to any other person (e.g. my mother/her father) when the life insured is the same? I mean, it boggles me, as in either cases, the benefits are mine to enjoy (hospital admissions, daily cash allowance, etc) Except for death benefit, I guess, which the policyholder can grant to any persons mentioned as nominee.


2- How is it more complicated doing absolute assignment than to leave it as-is? I'd thought it'd be easier now, given that the consent can be easily given?


3- While this may be the case now, it may not be the same in the future, which worries me that the insurance lapses, or suspended(??) and I have to look for new insurance coverage. Which would be hard as I would have gotten older and maybe with medical conditions that would not allow me to get new insurance (or with very high loading)

what make u think "While this may be the case now, it may not be the same in the future", have u read the policy contract and have a really careful read? read and find the clause out. Policy contract can't change suka suka. If it mentioned Policy owner passes on then all the power will transfer to you (Life assured). When times come, transfer unsuccessful then bring to court and sue.

I recently got whatsapp from my agent telling me my application got rejected due to medical conditions (that I am too shy to share here). I waited months and did my due diligence by giving documents. 6-7 months and the answer is rejected. I am sad and in despair…

Applied to PruBSN…

My personal medical card has deductible 5k, however I have a company given medical card with 0 deductible but annual limit only 100k

If my hospital bill is 200k, can I use my company card to pay first 100k and remaining 100k with personal card without incurring 5k deductible ?tq

My personal medical card has deductible 5k, however I have a company given medical card with 0 deductible but annual limit only 100k

If my hospital bill is 200k, can I use my company card to pay first 100k and remaining 100k with personal card without incurring 5k deductible ?tq

This makes sense. So in my case, any claims made for accidents happening to me (3rd party), the payment from the insurance (2nd party) shall go to my wife as the policyholder, which is the first party? If this is the case, in the event that the first party party passes on, the contract ends and the policy ends. Any residual savings shall be made to the policyholder for it to be managed by the nominee?

hi B u B u, you can either

A) use company card to pay the first 100k, remaining 100k you pay and then claim from your personal card (without incurring 5k deductible) OR
B) use personal card to pay the 195k hospital bill, pay the 5k deductible and then claim this 5k deductible from your company card.

better to go for Option B)

You sure ah?