Welcome to the Insurance discussion thread Version 7.00!

Click << HERE >> for the Insurance Discussion Version 6.00!

Created Date: 31st Jan 2021

If you have any questions on insurance, just ask the experts in this thread!


The Top 20 posters in Insurance thread version 6.00

lifebalance 535
ckdenion 223
Cyclopes 181
MUM 95
GE-DavidK 90
tyenfei 72
adele123 63
JIUHWEI 60
Holocene 48
yklooi 39
Ewa Wa 36
coolguy_0925 30
tan71500 25
jack2 25
cherroy 24
farizmalek 22
rocketm 21
Oklahoma 17
ping325 17
responsible poster 13

This post has been edited by roystevenung: Feb 1 2021, 03:46 PM

Thanks for the thread, i learnt alot of things in this few years about insurance than i would have from my insurance buddies since childhood

appreciates all the contributions made by forummers

Congrats on the new thread and thank you for keeping the thread tidy

👍

This post has been edited by lifebalance: Jan 31 2021, 11:02 AM

PIAM: Medical and health policies do not provide coverage for Covid-19
Adeline Paul Raj 19 hrs ago as of from 31 Jan 2021 11am

KUALA LUMPUR (Jan 30): Medical and health insurance policies issued by general insurance companies do not provide coverage for pandemics such as Covid-19, the General Insurance Association of Malaysia (PIAM) said today.

“The reason for this is that pandemics have been assumed as a rare event and thus, the absence of wide coverage under most policies. Pandemics are generally a risk with high exposure. As insurance premiums will commensurate with the risk exposure, insurance premiums will naturally be higher if a pandemic is covered,” it said.

more....
https://www.msn.com/en-my/money/topstories/...w?ocid=msedgntp

Thanks for sharing. This will help affirm consumers that if they're seeking for a coverage for covid 19, they'll need to opt for life companies.

Thanks TS

Last day of Jan 2021 today
1st day of Feb 2021 tomorrow

Congrats everyone reading here .. survive another month during this worldwide pandemic period. Stay safe stay focus SOP. We shall overcome.

#KitaJagaKita

Parking

This post has been edited by Oklahoma: Jan 31 2021, 11:44 AM

thanks for keeping the thread active!

congratz you are in the top 20 post contributor!

why u open a new thread?

once a thread reaches 1250 posts, need to "migrate" to a new thread.

Who say?

See this thread https://forum.lowyat.net/topic/4750563/+11500
already reached Post #11504 still can support

Don't think that's the real reason, some threads has 250 pages ~ 850 pages



But then again, how is this related to insurance talk ? XD

I think it's good to start in a new thread otherwise if you want to search through 500 pages of post, no one will bother to, lol

This post has been edited by lifebalance: Jan 31 2021, 12:56 PM

Already report this insurance fellow thread to MOD

oops my bad. then need roystevenung to explain. because usual car club threads they migrate to new thread once post count reaches 1250. i thought the same rules apply.

This would be the first time moving to a new thread becomes an issue...

This post has been edited by JIUHWEI: Jan 31 2021, 01:46 PM

My bad, was previously told that we need to create a new thread once a post is over 2500 and has been practiced since the last 6 threads. Guess it has since changed.

Anyway, just carry on in this thread. Will not create any new threads from now on.

pls PM mod to merge the thread so user can easily find info in single consolidated thread when perform search

Cherroy

Creating a new thread shouldn't be an issue. If you want to go old thread, just go to first post in new thread and click the link.

New thread wow
If I’m gonna be alone forever(no kids, wife), should I buy life insurance? Or medical card is enough?

This post has been edited by Pohziliang96: Jan 31 2021, 03:43 PM

Medical card is to help you pay for your medical bills,...
what about income protection to substitute your lost of income due to lost of legs, cancer etc etc?
what about protecting your hard save money while you live to sustain your life out?


This post has been edited by MUM: Jan 31 2021, 03:47 PM

hi Pohziliang96, you can consider very basic amount of life insurance to cover any liability you have on hand. this is to at least not leaving liability to family members. if you have no liability, then perhaps can buy a small sum amount of 20-30k as bereavement benefit to family members also. not compulsory of course, just some idea on what life insurance can be used for.

Thanks for New Thread.

I thought medical card has covered all the fees like hospitalisation and surgery?

yes,..medical card has covered all the fees like hospitalisation and surgery;
it is what happened after the surgery?
legs gone cannot work anymore....how?
or cancer made you weak cannot work anymore....how?

Pohziliang96, medical card alone is incomplete. If single status, is crucial to ensure financial independent even during critical conditions like C.HA.S ( Cancer, Heart Attack, Stroke) etc. After hospital treatment cost paid off using medical card, these conditions may force us to stop working or unpaid for certain period (3-5yrs).

This post has been edited by KLlang: Jan 31 2021, 04:03 PM

1. Life insurance if you got debts to settle and wish to pass down the assets debt free to charity or extended family

2. The life insurance normally comes with total permanent disability so if you want to take care of yourself should you be disabled permanently one day, then the insurance payout will help with your living expenses

You may also want to look into personal accident coverage. Which covers into loss of any one limbs, accidental death.

3. Critical Illness if you wish to cover in the event you're unable to work for a period of time due to critical illnesses, the payout will be able to help you pay off your living expenses

4. Medical card basically pays for the hospitalization fee only. What happens after you are discharged / finish with follow up is pretty much on how healthy is your cash flow.

This post has been edited by lifebalance: Jan 31 2021, 04:22 PM

thanks for sharing
I always thought a medical card is already sufficient
Seems like I’m wrong now
Thanks

It's definitely more than just a medical card which is just one aspect in insurance planning.

Hence its always advisable to get a comprehensive plan so that all aspect are covered.

Life is uncertain at times. Medical card will pay your hospital and surgery cost. If incapitated, life Insurance with TPD will pay out and similarly critical illness benefits will pay if covered.

Hi guys,

Currently holding a SmartProtect Essential with SmartMedic Xtra plan with Great Eastern since 2012. Thinking to spend some time to review the insurance plan that I bought because normally I just follow what insurance agent suggested.
Currently is 32 years old, working low risk job, non-smoker. Want to ask a few questions hope sifus here can clear my doubts:

1. If my company provide a company medical card with 80k annual limit, is that okay to sign up for deductible plan with deductible 80k for example? I assume I can change plan in the future to non-deductible plan without issue right (For example when I retired)?
2. Just wondering is there a way we can 'DIY' to compare the plans offered by different companies, or we straight talk to agent and ask for quotation then compare?
3. Personally prefer Prudential or AIA over Great Eastern. Just wondering is that still worth to switch since I already holding a policy with Great Eastern? I assume the benefits, premium, and claiming process should be almost the same across these three companies right?
4. What is the recommended R&B, I assume RM150 will be too low and RM200 onwards should be acceptable right?
Thanks a lot!

1. Depends on how long you plan to stay with this company [Possible scenarios: Laid off/Change of job instead of retirement]

That being said, it'll be subject to your health at later part of your life if you'd like to change it back to a lower or non-deductible plans.

There is however a plan that allows you to convert to a non-deductible @ Age 60 which is Allianz atm.

2. Consult a Financial Adviser Representative and they'll be able to give you a non-bias fair comparison

3. Premium is not necessary the same as the cost of insurance is different for each company as well as the benefits. For a better comparison and review, best to consult a Financial Adviser.

4. That depends on what's your expectation from your insurance policy to payout to you when you're hospitalized. Will you be satisfied if the insurance company pays only RM150 at the moment? if not, what will be the amount that you're happy with ?

Again that could boil down to the level of care that you want the hospital to provide to you without you having to fork out extras for it.

Hope that answers your questions.

You can use it for funeral expenses purposes.

As for the death claim timeframe, it ranges from 9 working days - TBC depending on whether the case involves any investigation or it's very straight forward case

However, the above timeframe is not general, depends on how quick you can assemble the docs as well and hand in.

Some death claim benefit can be rejected due to:
1. the cause of death does not under the ambit policy/contract/certificate’s benefit,
2. breach of terms and conditions under the policy/contract/certificate,
3. death due to suicide within the specified time-frame mentioned under the terms and conditions of the policy/contract/certificate. (Commonly this would be for a-12 month period),
4. policy/contract/certificate is not in-force,
5. non-disclosure or incorrect information provided at time of proposal/application,
6. pre-existing conditions (depending on the terms and conditions of the policy/contract/certificate).

What doc you need to prepare for Death Claim?
1. Claimant Statement – Death Claim
2. Certified Death Certificate
3. Claimant's proof of relationship to the Deceased (i.e. marriage certificate, birth certificate, etc.)
4. Certified IC of Claimant
5. Policy Contract / Bond of Indemnity with Stamp Duty

Additional documents for death occurring within 2 years from date of issue or reinstatement:
1.Attending Physician’s Statement - Death
2. 5 copies of Consent Form & Patient’s Card

Additional document for Accidental Death:
1. Certified Police Report
2. Certified Third Party Police Report (if any)
3. Certified Post-mortem & Toxicology report
4. Certified Burial Permit
5. Newspaper cutting (if any)

Additional document if death occurred in overseas:
1. Certified JPN Letter
2. Certified death certificate issued by the country where the Assured had passed away

This post has been edited by lifebalance: Jan 31 2021, 09:55 PM

For DIY, you can read up websites like RinggitPlus or iMoney to get some idea and then consult the agents to review better ways to address your concerns.

You can buy a life insurance and bequeath as beneficiary to who would pay for the expenses.

hi TaiGoh, hope my replies above helped

If you decided that, then med card is enough....but this is assuming you have no loved ones on this planet which I suspect is not true.

Thanks lifebalance and lifebalance for your reply!
The reason I ask for a deductible plan is because I would assume that deductible plan premium will be a lot cheaper than non-deductible plan. So I just wondering is that a good idea to opt for a deductible plan since company already provided the benefits, then the premium saved can be utilized somewhere else. Or normally when hospitalization needed, it will be always advisable to use personal medical card first then followed by company medical card when over limit?
I am not so worried about I got laid off, but change of job could be possible. I not sure how the policy works but just wondering whether it is possible to adjust the deductible amount or even adjust to a non-deductible plan in the future. And whether worth it to do so? And I assume that there will be no waiting period and contestability period need to be served in this case if within the same company?
Thanks!

yes TaiGoh, deductible plan is of course much cheaper. and yeah you can remove the deductible in the future when you want to.

if your personal card has a deductible, then use your company card first. anything that exceeded your company card limit only you claim it from your personal medical card.

TaiGoh, yes, high deductible is cheaper but the premium amount saved is not significant compare to a RM300 deductible for age 32. Also, every upgrade/ lower deductible in future is subject to 120 days waiting and 2 years contestability period.

This post has been edited by KLlang: Feb 1 2021, 08:19 AM

Thanks for the inputs.
Btw, what is the variance In premium per year between a 80k deductible n a non deductible plan for his age?

1. If you're using a deductible plan, you'll be forced to use your company card first otherwise you'll have to pay fork out to pay for the deductible before the deductible medical card can be used.

As mentioned in the earlier post, as long as you're still healthy, you can make a request to change by re-declaring your health status at that point of time, if the insurance company finds it unfavorable then they'll reject your application to change the deductible to a non-deductible plan.

So if you have a 80k deductible plan for example then you'll be forced to pay the 80k upfront first before the balance is covered by the insurance company throughout your policy lifetime.

On the other side of the coin, you pay a low premium for your insurance but at the same time, will it be worth paying 80k upfront?

That depends on what is offered by the insurance company for the 80k deductible. (Different company have different % of discount)

For example, the normal premium is RM1,000 monthly, but someone with an 80k deductible could be paying RM200 monthly.

wow, that is alot of % ,...between a 80k deductible and a non deductible plan of similar coverage. for TS

bro, which company has 80k deductible plan btw?

that is one of the selling points of UBB trust as mentioned...

Why Should I establish a UBB CASH TRUST today?
It provides swift cash for expenses during emergencies and to tide your family over until the insurance payout and access to your money in your bank accounts or will. This cash can also be used to pay legal fees to access any inheritances and bereavement-related expenses.

hi YoungLee, yeap you are right on this one. definitely cannot wait for the proceeds then only carry out the funeral. that's also the reason why now people buy pre-plan funeral service package.

yeap basically it's just Trust funded by cash. best to have ready cash self prepared too.

nah doesn't exist, only giving it as an example.

The highest deductible you can set now is either 75k - 100k

This is not considered a "reimbursement", it's a payout from the policy benefit. Consider that the policy has been fulfilled by the insurance company once the insured has passed away.

If you have a trust set up, the payment of funds will be much faster as the money is already there, and you'll just need to submit the necessary documents for the trust to hand out the money. (This is provided you have park some initial asset/cash into the trust).

However if your trust depends on insurance payout, the processing time is similar to what I've mentioned earlier.

This post has been edited by lifebalance: Feb 1 2021, 10:40 AM

MUM, the variance is only about 400-800 per year for a 2mil medical card. the deductible is 75k. use simple math 400 vs 75k, which one will you take?

Will this 400-800 per year saved be (alot) more than enough to buy another 75k coverage?

It is ok for a newer thread.
Previous due to ease for server, it is recommended by admin to create new thread whenever reached certain number of posts.
Since after the upgrading, it is no longer a requirement.
But if feel need a new thread for more ease for reading and navigation, it is welcomed also.

Those wish to refer back to previous thread, can click on the link TS provided.

Thank you.

Hey I’m back
May I know which products provide more coverages? Like including medical and personal accident.

And I’m not living in a city. The nearest bank I could reach is Maybank.

Can I buy ETiqa’s insurance at any branches of Maybank?

This post has been edited by Pohziliang96: Feb 2 2021, 02:05 PM

You may want to get a few quote or check out the online brochures directly with the insurance company and do your own studies.

If you want to deal direct with the insurance company, then you may opt to get their term policies available on their website, just key in your details, choose the plan & make the payment, I believe Google will be your best friend.

If you wish to get comprehensive policies, you'll have to deal with an agent. Nowadays, you'll be able to buy a policy with the agent without having to meet the agent face to face.

This post has been edited by lifebalance: Feb 2 2021, 03:06 PM

Thanks for your advice

You said u were having Smart Medic Xtra (SMX) series in 2012? 2012 we were still using Smart Medic (SM) only which 10% co-insurance. SMX was launched in year 2015-2016. Better check via E-connect. If u r holding SMX actually this plan not too bad. This plan without any co-insurance.

Q1: If u downgrade the existing plan to a 60K or 90K, or 100K deductable amount then obviously ur premium can be as low as RM100/m. When u reach 60yo then u want a deductible plan, you need to undergo the underwriting process based on the current health. As age grow especially 60yo, be frank lots of exclusion and loading.

Q3: not worth bcoz u need to start paying commission to company A or P agent again. bcoz ur current policies has passed 9 years and 100% allocation. No more commission payout. another risk is the waiting period recalculated.

Cant comment on the preference of companies or agents. Can google and check which companies has higher assets and market position.

Thank you so much for your reply, appreciate it!
Indeed there is a upgrade made in 2018 to SmartMedic Xtra.
I did a check the premium difference between SmartMedic Million and SmartMedic Xtra for age 32 is just RM26 for R&B200. So far I see the only drawback is SmartMedic Million with deductible RM300 I guess? Or maybe something that I did not aware of.
Also it does come with regular increment to the R&B just in case R&B getting more expensive in the future.

Yes, agreed with all the sifus said here, I forgotten about if reduce deductible in the future will need to undergo another round of underwriting and subject for approval. So definitely will be out for my considerations for now.

I am actually curious how the commission works here, I would assume that if I did an upgrade of medical card, the commission for that agent will be restarted correct?
And does it matter for consumer point of view? FOR EXAMPLE the medical card premium is 1000 annually, the commission is 30% second year is 25%, I am still paying 1000 annually correct?

Will try to compare the plan out there and see whether there is a worth to make a switch, because thinking better do the decision now than later, but if there is no justification to do that, most likely will continue stick with GE.
Thanks again.

You got a lot of input and I agreed with them.

As a reminder, don't lost focus on benefits/ coverage which is the fundamental why we need insurance.

How much agent can earn from your medical plan premium? Comparing the the medical bills that might burn out all our hard earn money.

No perfect plan, always something better than current one in future
Best timing and price is the moment you still acceptable by company
Best value is the premium that you affordable, longer sustainable better

Compare exiting and new one, get your agent to explain the different.
To sign the SMM, you need to keep the previous policy at least 1 year. I recommend 2 years. You agent shd be able to guide you how.

Anyone can provide quotation for cross hibah?

What amount would you like to Hibah?

Will need Husband and Wife details as below
DOB
Gender
Smoker or Not
Occupation
Hibah Amount

i pm u

During pandemic, so far, does insurance company still give guaranteed yearly renewal to standalone medical card holder without underwriting?
Anyone come across this?

All medical benefit insurance requires an underwriting unless it's a Guaranteed Issue by the insurance company to you (normally provided you've been with them (the insurance company as a policy holder) for many years with no health issue/claims). Otherwise it's quite impossible.

However, there are guaranteed renewal medical card out there as well as non-portfolio withdrawal products. Just not "without any underwriting required".

This post has been edited by lifebalance: Feb 3 2021, 03:45 PM

SMX has a revise of pricing last year onward after it has launched for 5-6years. Now SMM is a new medical rider which the cost of insurance of this rider about the same for SMX after my own analysis. benefits wise in SMM is much better. Yes SMM has the room and board increasing every 3 years. Sadly, we can’t attach this rider on the existing SPE2 plan. Need to waiting for company further updates later.

Commission works on existing policy: back in 2018 when u did ur upgrade, let said u top up RM 30-50/m, then the commission 30-50/m*25% only.

My understanding yes. At least for GE current plan

Just make sure your payment no problem and sufficient when premium raise (standalone premium raise every 5 years)

I got bad experience with my mom in law standalone due to credit card payment issue. under other company.

Anyway, you still need to refer to the policy you have in hand.

This post has been edited by tyenfei: Feb 3 2021, 03:49 PM

This is a plan for those want a high deductible amount, pic said 60yo onwards become non deductible. Can it be earlier for example 50yo? Possible or the option only in 60yo?

No, only upon 60 years old

Hi, does anyone know any life insurance plan that will give higher cashback then what we have paid when reach maturity like 70 years old?

You mean cash value? that will really depends as the figures upon maturity are non-guaranteed.

However some company do offer extra payout upon maturity

I'm afraid I can't disclose here, later kena flag hehe

Ryuluvlia, yes, there is plan guarantee lump sum at 70y/o plus non-guarantee cash value.

Thanks lifebalance. Not to mentioned new sign-up, my concern is long time existing policy holder with same company. Company are expose to higher risk since customer may recovered from COVID but didn't declare to company.

For other health history/ claims, company will receive claim and records from policy holder. But for COVID, customer may recover before yearly renewal and not submit any claim at all since is cover by gov.

How agent handle this actually?

U should also ask, what if it’s not Covid. Like other illness choose to go government and recovered didn’t declare to the insurance company for those policy inforced some years d.

Or u may also ask, kena diabetics or hypertension after 3 years purchased of policies and didn’t declare later on kena stroke? How? Or even changing gender?

Insurance is a contract, all the clauses mentioned are valid and not arguable. Looking for the clause said about “Guaranteed
Renewal” unless the polices u r selling don’t have this clause. Then I can’t help u.

Read policies terms and conditions again and again and highlight it to customer. If one day unable to renew then report this to BNM.

Look for those par and non par products in the insurance companies. As I know not many companies promoting this kind of products. Nowadays mainly on ILP.

Par plans give cash bonus and maturity bonus so at the age of 70 usually the policy has higher value

Whereas non par gives guaranteed surrender value.

hi Ryuluvlia, are you referring to plans that comes with maturity benefit at the age of 70? if this is what you are referring to then likely you have to look into traditional whole life plan. only thing that you shall take note is the maturity age. not all traditional whole life plan's maturity age is at 70 years old.

hi KLlang, if i remember correctly (sifus here can correct me if im wrong), so long it is renewed, company cannot investigate anymore. only possible outcome is once claim is made, then the following year company got the right not to renew.

for example "but for COVID, customer may recover before yearly renewal and not submit any claim at all since is cover by gov.", only when the company found out got such event, then only at the following year of renewal company can choose not to let policyholder renew.

*the above is for medical coverage that has the non-guarantee renewable clause ya

It'll subject to the policy that you've bought with the insurance company, if the company provides coverage, then it'll be within their discretion and T&C as not all insurance company covers COVID at the moment.

With regards to future undertaking on COVID recovered patient, they may have new guidelines should there be risk factor involved with recovered patient.

Any AIA insurance agent here? PM me please

any covid insurance?

All insurance companies and takaful operators under the Life Insurance Association of Malaysia (LIAM) and Malaysian Takaful Association (MTA) have confirmed that they will provide hospitalisation and treatment coverage for COVID-19 – but your policy may differ in terms of specific benefits, terms and conditions.

Here are the list of LIAM insurance and takaful operators providing COVID-19 coverage:

AIA Bhd
Allianz Life Insurance Malaysia Berhad
AmMetLife Insurance Berhad
AXA AFFIN Life Insurance Berhad
Etiqa Life Insurance Berhad
Gibraltar BSN Life Berhad
Great Eastern Life Assurance (Malaysia) Berhad
Hannover Rueck SE, Malaysian Branch
Hong Leong Assurance Berhad
Malaysian Life Reinsurance Group Berhad
Manulife Insurance Berhad
MCIS Insurance Berhad
Prudential Assurance Malaysia Berhad
Sun Life Malaysia Assurance Berhad
Tokio Marine Life Insurance Malaysia Bhd.
Zurich Life Insurance Malaysia Berhad

Benefits such as: (Depends on the company)
- Hospitalisation benefit of RM200 per day up to 30 days
- Death benefit
- Hospitalisation cash relief
- One time payoff upon diagnosis

Thank you for your explained. No need buy more and just use existing insurance if case anything happen.

Hi all, wanna ask, my insurance is GE SMARTPROTECT ESSENTIAL INSURANCE 2. Quarterly premium is about RM600. In this insurance my Lion Strategic Fund has about RM8,000.

Spoken to my agent that I can choose not to pay the premium as it will deduct from my fund 8K. Is it true it will not affect my coverage and what's the cons if I choose not to pay?

Another question is can this GREAT IDEAL LIVING about RM800 yearly payment also can be pay up from my fund 8K?

Sorry Covid time am exploring option to keep more cash in hand. If my understanding is right this premium payment from my FUND can last me more than 1 year. Any advice? Thanks

1. Your policy will enter into a premium holiday mode whereby the policy will continue to deduct the cost of insurance + other fees by the insurance company until your policy has RM0 where it'll lapse.

2. Great Ideal Living is a different plan compared to the GE SPE2. Which is a traditional plan, if you choose not to pay, same thing it will not lapse but the policy will enter into a automatic premium loan whereby the insurance company will charge you an interest for the loan, at the end of the period, it'll lapse if the loan interest owed >= your surrender value.

If you're not really in need of that cash on hand that urgently, it'll be wise to keep the funds with the insurance company as they'll continue to re-invest your money for you (ILP) and not incur any loan interest (Traditional Plan).

If you're feeling the burden to pay for the premium, maybe then it's advisable to go for a premium holiday until you recover your cash flow or maybe choose to reduce your existing benefit so that you can pay lesser premium if that will help you financially.

hi copterbandito, hope my replies above helps

Spoken to my agent that I can choose not to pay the premium as it will deduct from my fund 8K. Is it true it will not affect my coverage and what's the cons if I choose not to pay?
Yess, you can choose not to pay and let the policy enter premium holiday. Do monitor your cash value from time to time to avoid policy lapse. However, if your mobile number tie up with GE system should be receiving SMS from GE is policy about to lapse.

Another question is can this GREAT IDEAL LIVING about RM800 yearly payment also can be pay up from my fund 8K?
GIL cant auto deduct premium from SPE2, if u choose to stop premium for GIL do check how much cash bonus you have in ecoonect. After that, sign up the form called option from to shift to option 2. Option 2 means taking the Cash bonus to pay for the premium. Using Cash Bonus (CB) will not charge u 7% interest. If not this option, then policy will use surrender value for premium payment and 7% interest incurred. Do take note.
After CB account exhausted then premium will deduct from surrender value.

If possible, I'll advice continue your premium for GIL.

need feedback on my insurance policies portfolio:

1. AIA Assurance 1
Life insured: 200k, expiring age 100
TPD: 210k, expiring age 60
CI: 150k, expiring age 100
Premium waiver

2. AIA Assurance 2
Life insured: 100k, expiring age 100
TPD: 100k, expiring age 60
CI: 50k, expiring age 100
Medical card: 90k annual, lifetime 300k, room & board 150 expiring age 70 (with co-insurance but cant recall how much already, maybe 10-15k)
Premium waiver

3. Allianz PowerLink
Life insured: 100k, expiring age 100
TPD: 100k, expiring age 65
Medical card: 120k annual, lifetime 1.2m, room & board 200 expiring age 100
Premium waiver

4. Tokio Marine Medic Plus
Medical card: 150k annual, room & board 500 (deductible 10k per disability)

Thinking of optimizing both AIA policies but what would be a better option with the newer policies or just maintain them? To me, the more important is medical card and CI coverage.

Appreciate views from all. Thanks.

1. You mention your priority is Medical and CI coverage, have you figure out how much you're looking to cover? - there are few methods of finding it out

2. Perhaps you can look into consolidating into a single policy if you'd prefer an ease of making claims / managing your policies. I.e a single medical card with high annual limit (nowadays they come min RM1 mil annual limit and above) instead of the current set up which has low annual limit + covering another card's deductible/co-insurance.

3. You can look into upgrading on the existing policy (if it is allowed). Probably get your servicing to quote for you.

4. I can only give a general comment as I don't know you personally.

This post has been edited by jutamind: Feb 7 2021, 03:23 PM

Hi Sifus, I'm planning to work as an agent part time.

May I know which agency would work best for a part timer?

I have a flexible work schedule as my full time job hence.

I'm thinking GE ,AIA , Allianz

Talked to GE earlier seems to be decent but I'm looking forward to my other 2 interviews.

I'm looking for
1. Mainly a way to grow since my freelance job is my stable source of income.
2 Learn new skills
3. Looking for a supporitve team

For CI, it depends on your existing monthly commitment that you'll need to sustain yourself for a period of time that you're unable to work, if you feel that 3 years is good enough for you to get back to your feet, then yes, 3 years will be enough for you then.

You can either cover based on your current annual income or based on the monthly commitment + some extras (to cater for any extra medication / supplements / etc)

There are standalone CI as well as ILPs which you can set low death coverage but more to the CI benefit.

As far as AIA is concern, nothing much you can do with the old policies unless you choose to buy a newer AIA policy.

I'm sure you'll be swarmed with PMs soon for recruitment.

If you're talking about agency, it's best for you to go see their agency and environment to see if it suits you as everyone's preference is different.

Do make sure your recruiter knows what he's doing, some managers just do recruitment but don't really know much about their company products nor teach you properly and just expect sales figure or you're ignored.

Good luck

hi TOHNO, so long an agency accepts part timer, then that will be good enough. for point 1 and 2 definitely you will get it along the way. in terms of supportive team, I will advise if you can join in their meeting and see their culture, that will be good. to me that is crucial to know the agency better. do let me know if you wanna explore other agencies.