is there a limit or just follow the annual medical limit the insured chose?
sounds not bad... something to compete with A.A

I mean other than AIA and Pru, there aint any other insurance company offering such protection. some come with limited campaign coverages but pru is paying up to the annual limit, which imho, not bad.

1) we need to understand why is this happening in the first place. BNM has this mandatory sustainability stress test announced HERE. Check it out

the bad news is this practice is also retrospectively applied to existing investment-linked plans. Since you are buying from GE, it is my territory.

An increase in premium IS NOT EQUAL to an increase in insurance charge. It is merely a piece of advice to ask you to allocate more funds in order to let GE deduct the insurance charge per month. (it is called unit-linked or unit deduction rider for a reason).

Now, you have the options to remain as it is or increase premium or reduce your benefits to allow the policy to sustain till its end of term. new plans signed after 1 July 2019 would not have the privilege to remain with the existing premium and are subject to mandatory review of premium.

2) Yes. but still very much depends on the performance of the fund(s) selected. check your investment portfolio under the policy

3) no need to wait till 71 years of age, GE will notify u via SMS, email, and snail-mail (remember to register all your info in eConnect) when you have a potential lapse date, u may check your annual statement. my advice to u, switch your portfolio to fixed income or balanced fund temporarily to safeguard your investments (switching is FOC)

Once, it is insufficient to sustain, you can do a "single premium top-up" or a permanent increase in premium

4) all money paid in premium will be first distributed to (i) unallocated premium and (ii) allocated premium channels. the first channel is for agency-related expenses etc and the rest will go to the allocated premium channel. and all the received money will be used to acquire units in your selected fund, then GE will gradually deduct the cost of insurance expenses monthly from your fund account (aka total investment value). so to answer your question, your money is still in the investment account under your name, it won't be forfeited whatsoever.

In conclusion,

if you are currently broke, stay as it is.
if you are ok with the increment in premium, reply to GE and adjust. it is much more beneficial in the long run.

Night time always like that one. Already feedback to improve on this. Morning normally work just fine

commission cannot be transferred without the consent of the original agent, however, you can switch the agent of your choice to enjoy better service

Actually, servicing/follow-up is the most important element to consider when buying a policy. As you know the market is so competitive now.

Every now and then, different insurers will come out with different packages.

Say Covid-19 coverages:

AIA has it, then prudential came up and HLA and Etiqa follow suit, now GE claimed they have the best package by waiving the KKM referral letter and opening a separate risk pool to not affect the medical repricing. God knows if tomorrow Tokio Marine or Zurich came up with a better plan.

So consider this:
1) need
2) suitability of the solutions/plan
3) company
4) agent service

If the agent is no good, but in your case, AIA is your chosen insurer, and your need is fulfilled and the solution is the correct one, I do not think you need to cancel your policy.

Life comes full circle. If he is bad, he will be eventually get punished accordingly. One thing you can do: gather evidence and make an official complaint to AIA

Good question. This depends on the depth and the claim experience, the more policies under one's management, the lower the cost would be, and the higher the claim rate the higher the cost would be.

Looking at the cost, it tells u 2 things:

1) higher claim payout is a good thing but the overall price will go up
2) low participation rate (like old medical plans) will eventually reprice (naik harga) to meet the claim needs

So the loading/ pricing etc, depends on the above explanation, it might not be the same, cos different insurers have different REinsurers. and the costing also tak sama... hence u better get a few quotes.

Loading, on the other hand, is a good thing. That means insurers are accepting your condition and would pay accordingly should you befall with a sickness related to the condition. Meaning to say, if you bring your reports to another insurer, you might get different results, Decline/ Postpone etc.

This post has been edited by kok_pun: Aug 26 2021, 12:20 PM

sir, compare the cost, not the premium.

even the loading part will show you the premium increment of rm20/m or more. But the RM20/m premium is actually constituting the cost of insurance and a portion of the investment placement (for policy sustainability)

so, get the cost and the % of loading and you will see the difference. When u bring the same report to another insurer, u get a diff result. This is because the risk exposure of each insurer also not same...

You can look for life_balance, our regular contributor in this thread

passed away a long time or just recently?

All insurance companies and banks have a Data Warehousing Department to collect death data and bankruptcy data etc...
So after you have applied the death certs from JPN, the insurance companies and banks will be notified and the policies and bank accounts will become inactive.

After some time, it will become dormant and one way to check it is thru the Accountant General's Department of Malaysia.
Search for unclaimed money, and by doing so, you wont miss out on any entitlement

the client portal is this one :eGUMIS . key in your data CORRECTLY , you only have 2 tries per day

This post has been edited by kok_pun: Aug 26 2021, 01:00 PM