Hi sifus,

I bought ILP insurance with AIA for my wife (1986) bout 6 years ago with premium of RM2,804 per annum. The details is as follows:-

Coverage Start End Premium
A-LifeLink RM52,500.00
ALL1 A-LifeLink RM52,500.00 21-Jul-15 21-Jul-87 RM1,400.00
ADC1 A-Plus DisabilityCare RM52,500.00 21-Jul-15 21-Jul-57 0
ACL1 A-Plus CriticalCare RM26,250.00 21-Jul-15 21-Jul-87 0
APM1 A-Plus Med RM1,110,000.00 21-Jul-15 21-Jul-87 0
APB1 A-Plus MedBooster RM1,110,000.00 21-Jul-15 21-Jul-87 0
APS1 A-Plus Saver RM0.00 21-Jul-15 21-Jul-87 RM1,404.00

Fund Value as of now is RM4219.79.

Now, i am trying to cut down the premium, and i wonder what option do i have.

Actually i only need the medical card for her coz she not working, can i just change it to pure medical card? Any disadvantage of this? What happen to the fund value then?

Can i remove the life insurance, disability care and critical care? Probably can save few hundred here i believe?

The premium of RM1400 for "A-LifeLink" is the insurance part? and the RM1404 is for investment? is this correct? If so, can i discard the investment part and only pay for the insurance part?



For myself (1986), i have AIA Mediplus card since 2006, so the benefit is not that good. Coverage as below:

Medical Limit/Year Your Lifetime Limit Premium
RM110,000.00 RM330,000.00 RM1,238.00
Room and board RM180, deductible RM50

Can i change to the current latest medical card? What are the cons that i need to be aware of?



For both of the above, i want to avoid having to sign up with new plan and thus need to pay the commission all over again.

Thank you.

This post has been edited by ntdote: Jun 11 2021, 01:55 PM

Thank you sir.

For the ILP, do you mean that i still have to pay the original premium RM2804 no matter how i re-structure the policy? Or can i opt to reduce the investment amount to say RM400 instead? This way it would still be ILP and premium would be RM1800pa.

TQ

Thank you sir for your response.

To recap my current medical card benefit as below:

Annual limit = 110k
Liftime Limit = 330k
Premium = 1238
Room and board = 180

I checked at AXA. Compare to a quotation i got from AXA online below:

Annual Limit = 1.5mil
Lifetime limit = No limit
Premium = 1000
Room and board = 350

The difference is so huge, AXA benefit is so much better and cheaper too.

My problem, since my medical card started in 2006, is there any "practical benefit" to keep this AIA policy to avoid issue with new policy like no coverage for pre-existing illnesses etc ?

Or is there an option with AIA to upgrade my existing policy (keeping the year 2006) rather than to terminate and then sign up with the latest AIA medical card, again the issue of pre-existing illnesses etc?

Thanks.

Thank you sir for responding.

I've only done colonoscopy and MRI scan since policy started, nothing was diagnosed. I am not aware of any pre-existing illnesses, just a concern that it may pop up sometime later leaving myself in limbo not covered by either the old and new policy.

The existing 110k/330k limit is a joke though for the amount i'm paying. I would be against keeping this card if there are no real consequences (please do advise if any), which I may not be aware of.

I found a clause for the AXA medical cover, which may be the answer to its lower premium.

5. Co-Payment

If you are hospitalised at a Room & Board category that is better and cost more than your eligible benefit, you need to
bear 20% of the cost of all other eligible benefits described in the Table of Benefits. If the Room & Board is of the
same category but cost is higher than your entitlement, you need to pay the differences in Room & Board only.



The room n board eligibility is RM350 (Standard Single Bed). I just have to always choose within the eligibility to avoid the 20% co-payment right?

Under what other scenario would this co-payment clause be triggered?

Would there be times where it would not be under my control, for example lets say hospitalised in ICU which costs more than the eligible RM350? Would ICU falls under the room and board?