Hi ivych, unfortunately, pre-existing conditions/illness is fall under general exclusion in all companies. But, do not feel down, there are non-medical underwriting plans available.

You may share what the specific pre-existing conditions are, then we may enlighten you here.

PruValueMed is already providing a good coverage, and as you mentioned which such pre-existing illnesses, there might be a chance that your new application may be decline / exclusion / loading / postponed.

That being said, I hate to break it to you but the Allianz agent is most likely conning you on the "cheaper" rate. <--- if you're not sure about this part, just share the full quote by that Allianz agent + your status [DOB, Smoker or not, occupation]  and also what you have in your existing policy.

I'd like to structure my question as below
1. What's your objective right now?
Objective: I do not want to get a medical bill shock

2. Do you understand what are you looking for right now?
I am not looking for anything at the moment but could be considering to get CI

3. Do you understand what was "reviewed" ?
Yes, they are reviewing the adequacy of my current policy and try to offer a better option/“value”
4. Do you understand where is your personal finance is at, right now?
Yes, I have some investments in stocks and unit trusts(about 50,000)

Interesting, I'm literally looking into my device now and the minimum premium should be RM235 monthly but you said your agent can get @ 200/m?

That being said, your term of coverage is only for 25 years @ 235 monthly. I can't imagine what's that like with 200/m

The premium payable up to age 70 should be RM375 monthly.

Were you brief on the term of the coverage?

Premium is still below the ear marked 375/m for Age 70

Bro , does your existing prudential agent perform policy review for you as well? As I see your existing policy is quite good already , if you still want to upgrade you can go ahead with pru million med , you can also perform all editing on your existing policy subject to approval.

I don’t see the need to switch over to other insurance company. If purchase additional life policy from Alianz then yes , but cancelling and switch to alianz I don’t see any convincing benefit here.
Even by canceling old prudential and purchase new costs higher, upgrading is much better option.

Maybe the alianz agent want to earn brand new 6 years commission that’s why he/she is persuasive on convincing you to make the switch. It’s good that you point out here to get help.

Alianz , GE , prudential , AIA are equally good and all is being watched by bank negara , significant cheaper price for the exact same coverage ? I doubt so , at most maybe some is doing a limited time promotion with t&c

Hope my replies help.

Of course.

There ain't "cheaper" rate as describe by your agent  , just a manipulation within the device where the agent reduces the tenure so they can offer you a lower premium (because if the tenure is stretch longer, you'll have to pay more), but you'll actually have to pay more later (much more) 

On the side note, Company X offers similar benefits around 295/m till age 70.

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.

hi ryan, it really depends. you have to apply first. if can, disclose to the agent regarding your condition and see if agent can access underwriter to check for you or not. have your report ready as well.   your case is loading right? loading/exclusion or both?

Guys. Anyone received sms from prudential on

1. Extend medical card to 100 years old
2. Covid 19 claim will no longer be an exclusion.

You want to appeal, just appeal asap. No cool off. Would suggest you back up your appeal to avoid ding dong with the insurance company.