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.

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

Any difference for medical card sold by general insurance companies compared to those sold by life insurance companies?

Seeking opinion on the need for early CI given the Premium is much higher than normal CI.

How often in real life that claims come from diseases apart from the main 36 diseases?

any online portal that can recommend to purchase standalone family PA policy?

is the annual premium statement for Prudential already issued to policy holder? doesnt seems to be available to be downloaded yet for me.

How is the CI policies under KWSP i-Lindung plans differ from the other CI plans in the market nowadays?

Premium seems to be rather cheap but not much details available

Is it common for those after retirement age to remove critical illness rider/cancel CI policy, assuming medical card is still effective?

This post has been edited by jutamind: Mar 13 2023, 09:52 PM

I understand that CI is to cover you financially in case if you have dreaded disease that might put you out of work for good or for short term.

However if you're already retired, is there such a need for CI anymore? I know this could be a personal choice but what's a good financial advice/practice for continue to pay for CI coverage for those that have retired

Long term performance of investment link funds from insurance companies are pathetic.

Is there any recommended equity/managed funds from AIA or Allianz for those regular premium IL policies?

Problem with checking on the web site is that a lot of those funds listed are not eligible for regular premium IL funds. Need to confirm with agent/customer service only know which fund regular premium IL can buy/switch.

As for S&P 500 fund, I think only GE has it (Lion US i-fund) which I think is advantage for GE customers

Just to share with everyone that has investment linked funds, you can check the performance of your funds periodically from this link:

https://www.liam.org.my/library/?c=29&ct=4

Is there any recommended sum insured for personal accident coverage, for eg 3x of your annual pay?

While I agree that most of the recommended sum insured is commercially driven, I still think PA coverage is necessary as accident might happen unexpectedly. Just need to know how much to cover for sufficiently without being over insured

Recently my ILP with medical card rider premium is being revised and I'm given 2 options by the insurance company:

1. Maintain current premium but policy might lapse earlier due to higher premium.
2. Opt for 5k deductible with new premium and policy will sustain much longer (can't recall hour many years longer)

Which is a better option to choose? Alternatively, I'm thinking about removing the medical rider and buy standalone medical card. Is this a better option than option 2 assuming that I don't have underlying medical conditions?

Appreciate the input from the insurance experts over here

The option 2 mentioned by me is the one with revised premium.

I know for ILP, the first 7 years of the policy will need to deduct the commission. No idea whether the same commission structure applies to standalone medical card.

Oh another point forgot to mention is I'm in the 50s. Advisable to still drop the medical rider and change to standalone medical card?

1. Yes
2. My suspect is that by the age of 80 and above, the COI for ILP or premium for standalone medical card should be more of me the same? Correct me if I have the wrong understanding
3. I do expect either ILP or standalone card to increase prices in the future. Just not too sure which type of policy has higher quantum of increases historically.

In short just looking at option to balance the coverage and cost over the long term

Based on your understanding/research, standalone card won't have ad hoc premium increase if the claims ratio is higher than anticipated?

Actually don't understand why all insurance companies coming out with these 5m, 8m medical coverage when the majority can't even pay the premium for 1m coverage.

If I need to spend 5m for medical fees, I think I should be 6ft under already or seek treatment at gov hospital. But that's just me....

Since you've provided a rating of C for GE and B for Prudential in your previous posts (according to your analysis), what's the rating that you're going to give to AIA, Allianz, HLA etc?

common guidance for critical illness (CI) coverage is 3-5x of your annual income.

If you have annual income of 100k, that's 300k of CI coverage which is probably not cheap for most folks.

What's your CI coverage currently? is it following this common guidance/guideline of 3-5x of your annual income?