I have a question.. if i want to upgrade my existing insurance plan for example plan 250 to 350 room&board will my policy subject to waiting period & 2 yrs contestability period again?

If my spouse stops working and i take over the payment of her life or medical insurace, am i able to claim the income tax relief if policy owner and life insured is under my spouse's name?

Yes. This is the only worth it place to buy insurance online
https://fi.life/

Now whether they have cash value is another story. You need to explore the product yourself.

If you don't mind lower coverage then Deartime (designed for B40), and FWD.

Rest of insurance online are just pure rubbish. (Low coverage).

What’s the recommended medical insurance for Malaysian working in Brunei?

Currently has Zurich ILP which covers 200k coverage for death/TPD. And, 50k for medical insurance. But just realise that it doesn’t cover overseas if I am residing for > 90 days which I’m currently am due to my work.

Am currently thinking of switching to AIA which cover Singapore and Brunei.

Is it recommended to get one with a local insurance company?

I think individual. Nowadays all standalone insurance are guaranteed renewal unless you commit fraud, surrender policy, or lapse payment. There no more clause in the agreement on policy stop working if diagnosed with xyz disease or kena loading.

Old standalone yes.

Frankly you don't need agent much. Up to you if you want to get from agent or buy yourself online. If I have the option, I will always buy myself online. Skip the agent. Sadly not possible in Malaysia.

I am in the same boat too. Received the same letter due to medical repricing for medical riders in GE ILP.

I chose to remain at my current premium for now. But by doing so my policy has a high chance of not being able to sustain till the end of my policy year, and that I might have to perform top up some time down the road.

If I am not wrong, plan switching is the same as buying a new plan? and you are subjected to the two years of contestability period? if so, pls consult your agent on the implications first before making this decision. I would keep my old plan if I were you.

Question for Great Eastern agents.

Lets say I have a ILP with an attached medical rider (SMX200). My premium is currently RM200. However, the recent sustainability letter says I need to increase my premium to RM280, and the repricing letter says I need to increase premium to RM250.

I'm considering switching plans to SMS-250-D. The recommended premium by agent is BIP RM340 and GSR RM30 (for top-up premium), i.e. total premium of RM370.

1) Can I elect to maintain my BIP at RM200, and instead apportion all the recommended increase in premium to GSR, such that the GSR becomes RM170?
Yes u can. can get the agent do the quotation infront of you to max the GSR.
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2) Can I elect to maintain my monthly premium at RM200 for the time being, and revisit in the future during the next sustainability letter? I have ample cash value, and for now the annual premium is around twice the total cost of insurance of the plan + riders.
Yes u can maintain at 200 for the time being. you can see in your letter or login to econnect to select maintain or increase as recommended.
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Thanks!

Just curious, how much more premium money increase this time?
Any idea how much % of this increased premium money will allocated for ilp investment portion of the fund?
I was just think.....
If this time the increase is RM500
If 50% of this 500 is allocated for investment in the ilp insurance plan, then just 250 will be used for investment by the insurance company.
You saved 500 and used it for investment by yourself, while the Insurance company got 250 to use it for investment for you
Definitely can see a clear cut winner here

Anyone can view the contestability period and incontestability clause from the policy documents?

I read through.... I only notice waiting period and exclusions.

I found the definition from Google and also company website. 😊
I couldn't find it from the policy document.
Will insurance company provide customer copy of the policy contract? If yes, I will ask my agent to help me to get it.

I found the definition from Google and also company website. 😊
I couldn't find it from the policy document.
Will insurance company provide customer copy of the policy contract? If yes, I will ask my agent to help me to get it.

I don't answer the data centre part. I'm answering to "rejected" part.

Certain policy, company A might be strict underwriting to level 99. Then reject or postponed your application.
You may try company B, underwriting control might be level 90 then accept your application. You still need to be honest answer all questions during application. Declare health report / medical history.

What ever information you hide that causing the contract break FSA 2013 act .. eventually is not valid by law. Just by luck.

Unless you applying Guaranteed Insurability Offer (GIO) type of policy then no issue.

Betul.