every year buta buta charge management fee.

wait k/ share ayam standalone insurance plan then ayam update post here

This post has been edited by theberry: Oct 24 2022, 11:52 AM

All insurance is scam

But I've been paying my investment-link for 10 years already

Medical insurance isn't scam.
But investment linked medical insurance isn't really benefitting you, it is benefitting the agents who get higher commisions so recommend it by default.

Depends how the agent package it

If he told u to pay this and u get insured of medical card with xxxxx limit and tell u it is not investment.. is purely for medical.. then u wont feel bad

It is because they package it as investment and you have a feel that i buy the medical card and in the case that you did not use it.. u still get back some profit from the investment.. that will get your nerve on fire.. especially when the so called investment is not performing, hence the fund value drop and you somemore need to pay extra to topup fund value inside your policy to maintain the card..

This post has been edited by Boomwick: Sep 12 2022, 09:19 PM

Investment part will use as to cover increment charge in the future as the medical cost increase anytime .........

Scam.

When want claim they tell you to use your own money to pay first and claim later.
Now, under emergency how people can suddenly get a few hundred thousand for surgery?
Later claim also not guarantee they will approve the full amount.

GE premium increased TWICE since I bought.

True.... same as me, but i didnt opt in the increase... so it will use the investment part to cover.....

Pokai if always increase ..........

I don't disagree.

ini benda orang tak paham

stupid i must say. only know to komplen instead of finding out.

the product not scam, but some agent didnt do proper explanation.

if scam, BNM already at fire since all products are approved by them.

U got use before medical card? Got claim before ?

Emergency case.. ofcuz is normal procedure pay deposit rm1k or 2k.. because that time no GL ma..

If u do consultation, then doctor take GL first then mah no need lo..

On cannot claim full amount, this is because of test unrelated or out of scope from the illness cover in GL..

Example.. u go admission is stomach pain.. suddenly u ask doctor do a CT scan on chest... or check your leg or hand.. then of course no cover lo..

Don't spread false information.

There are deductible options and if you buy 5k deductible you need to fork up 5k before the insurance pay the rest of the claims.

The way I see it. Insurance is somebody else's money, and they will decide if they want to payout or not. Or if they even want to insure you.

If possible, start saving money and reduce your insurance premiums gradually. Try to get control of your own life.

Insurance that need agents to sell is a scam.

+1 this is the main purpose... not for u to earn from u, more like a hedge against rising costs

Lol bullish*t. Even with investment they will still ask you to increase the premium else it will become unsustainable.

Dun simply lampaji la..
I am not insurance agent.. but i claim kao my inso a few times ad..

When u get GL ad.. is confirm covered..

They dun insured u is because
1. Buy medical kad and within 2 years want to do big claim like cancer or some big underlying issue
2. Never disclose properly on underlying health issue.

So they will run a thorough check on ur case..
However, if it is found to be original no tipu case, it will be allowed

Who ever said it isn't, is insurance seller.

And if they said they aren't, they lied

This post has been edited by B0ss_ku: Sep 12 2022, 09:39 PM

https://ringgitplus.com/en/health-insurance...dical-Card.html
Deductable 100,000

Up to RM100k, this is for those who have bought earlier medical cards with lower coverage or those having/using company medical coverage.

My sister's family, whole family claim (I dunno why, their diet or what, everybody sickly and they are a young family, eldest kid 11yrs old only), can pay for premiums for next 20 yrs d . I dunno consider lucky or not lucky.

Worst than scam , go look at those saving product plan many of them only give out 1-2% each year worst then FD.

whatever shit you touch with them. do not touch investment link.

Well, the final say is from the insurance companies. If you are willing to, slowly increase your savings and reduce your premiums. At a certain point, you may have enough to forgo insurance completely.

Is it possible to "tipu" yourself when paying for any medical expenses from out of your own pocket?

That does not happen on average or all insurance companies will go bankrupt.

Don't approach insurance with a gambler's mindset. Don't hope to claim or turn a profit. You are betting against your own health and wellbeing. It is not worth it.

Either agent didn't explain to you properly & you didn't see the quotation documents - for GE the standalone plan's commission is HIGHER than the investment-linked policy AND standalone plan's (only the medical card portion) premiums are higher - that was 5 yrs ago when I studied the brochures. Now I dunno d.

Fk... Got one insurance amoi keep suggesting to me high net worth individual plan. At the end of duno how many years can take duno how much....

I read macam doesn't make sense....how come pay 4-5k a month only cover 1 million upon death? I read many of my friends sell those hibah Islamic card , only few hundred a month then upon death can get around 500k like that.... Seems like 4-5k pay 10 times more but a lot of the money going somewhere else.

This post has been edited by Knnbuccb: Sep 12 2022, 09:52 PM

Not betting, this is how you call it, risk planning. You kena 4D for health issues then susah lo. I force kaw them to buy it, if not, I might be the one to help foot their bills.

Ever bothered to ask how much premium for 100k deductible? Chances are you won't even consider the 100k deductible.

Don't be ignorant and give wrong facts to people.

If tandlone plan higher commission why would the agents actively push ILP instead of standalone plan. Standalone plan cheaper , should be able to sell more.... Unless you're telling me agents are so kindhearted they would forego higher commission to sell u things..

I don't depend on agent. I read every page of the agreement. Not the brochure, but the 100 page agreement.

My two sen advice generally to people.
Insurance is for insurance. Investment is for investment.

You mix the two, your agent driving Merc/BMW.

and this is bullshit.

Omg u couldn't be more right....She was driving BMW. At young age. We met up at cafe, I drove my mom potong saga ( just sold off my second hand jepunis old car ) . I curi curi go spy what car she drove and she caught me looking at her ... In my mom saga ... Malu sial.i faster drove away , hitting 180km/h on the straight

And yet she keeps asking me to buy high net worth plan. I should be the one asking her to buy.. based on the car she drives and what I drive, she's the higher net worth person . Every few months sure call me ask when free to meet.... I guess that's why agents need to be decent looking and put on a sweet voice .... Else people just won't meet them .. imagine if some landwhale ask to meet u also got no mood

Oh btw , u know what's funny. I bought plan from her when she was with *lb . Then now she change to other company I ask her eh then last time u sold me that ILP alrdy, why still need to buy this? She said ohhh this one much better than that one, the previous one so little benefit. In my heart I was like knnbuccb now u say so lousy then that time u sold to me say till so nice?

This post has been edited by Knnbuccb: Sep 12 2022, 10:10 PM

Coinsurance and deductibles are good ways of slowly reducing your premiums and coverage. It is a good idea if you are slowly building up your savings or if you already have workplace insurance.

this agent doesnt care about you
only care commission and upgrade new car from bmw

Because it's really good for the customer, perhaps? It's a win-win. If everyone is a scammer then the profession would have been banned lo, you have to give it to some (not all) who really worked hard to earn their BMWs and bungalows helping their customers plan.

only medical card doesn't come with investment, the rest critical illness, death, etc all comes with investment link

If the agent never told you there is deductible / coinsurance and caught you off guard when claiming, nothing to say although you really should have read and raised any questions during free look period.

If you were told and still caught off guard like that then that's all your own negligence

Show us the proof that standalone get more commission.

Is not scam...shit really happens sometimes...i got my ILP, pay 200 a month for peace of mind...

Well if in that case..
U see nobody want to get sick.. if given a chance.. all want to be healthy..

But if one is sick and without any hedging tools for the lose of monetary value to cure the sickness.. that is very bad..

So your sister family is consider as unlucky punya lucky..

Unlucky because sick
But lucky because got inso cover..

Just imagine thosr unlucky sick.. and no inso need to pay cash or wait 3 4 5 6 mths at government hospital

this already proved that you don't have one or you are not claiming. diuniasing

Very hard to say one la..
Of course if small little issue, then you are right in the sense of save up and can pay when needed..

But if u kena jackpot sickness.. then how ?
The big C... can grow anywhere from head to toe..
Then heart problem.. artery clog
Or kidney failure..

If you are referring to those common ones like flu.. cold.. of course normal saving is better because a cold or flu usually does not need admission into hospital unless it is mutated into pnemonia stage 3 with breathing difficulty.

Your body, your bet.. if no kena. Of course is the best..
If you are scaredy cat.. kok ji gia.. then better get one

Well, you should at least know how much your insurance is going to payout. There are "unlimited" plans nowadays, but realistically how much can you claim? Can try working towards that number if you want.

Depends on what you buy one la..

I dunno about latest..
But i think now plan are usually yearly capping 100k
Lifetime no limit

How much can u claim depends on what you do one ma..

If u complain say u stomach ache, stomach problem intestine issue..
Then a gastro specialist will do a scope from mouth and anus lo ..
If day care then will be below rm10k.. usually is 7 8k ( pantai hospital )

If found out got issue, bacteria /fungus infection, then ask u ward for 5 days.. then mah 20k lo.. (pantai hospital)

If your body got lesion..(small bump head) and you want to operate it..
1 lesion is rm400 / 500.. then got other charges add up around 2 3k lo.. you can opt for day care admission to claim inso..

Sometimes u play sport injured kaki.. knee cap damage.. also can do scanning MRI.. then they will maybe do some minor invasive surgery to remove fluid and pump some gel inside knee cap.. that one will be around 20 to 30k ( include 3 mth follow up cost)

Dengue also can claim.. around 6 to 10k depends how long u stay

So u think not fast use?



This post has been edited by Boomwick: Sep 12 2022, 11:58 PM

Aiya, kena dig it up la, will try, but no promises... If can't find maybe I ask my agent friend to send product write-up (the documents that agents refer to)

Hope I don't get LOD....

The Smart series are Investment linked (160% comm max over 6 yrs). The Great series are Standalone (171% comm).

This post has been edited by AbbyCom: Sep 13 2022, 01:34 AM


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Topkek investment link one price way higher then standalone end up investment link one still make more.

Lol, have you checked the actual cost of insurance for investment-linked plan vs standalone plan?

Anyway, you do you if your mindset is fixed that way.

I bought investment and medical separately for all.my family members ...

Investment as gift when they marry
Medical as protection ...

My relative is a GE agent. When I asked him any medical plan without IL, he said nowadays all medical plans are ILP.

Kek.

Lonpac offer non ILP

Depend, when you need it, it is not scam, if you are healthy you will say its scam.

Scam or not, medical insurance offers a peace of mind.

As #53 says, when you need it, it's not a scam but a lifesaver.

If you don't have medical insurance and you think you cannot afford medical treatment, you will delay seeing a doctor or camp at gomen hospital if something happens.

I bought GE investment link + medical card for 12 years already, when I bought that time I was a fresh grad, paying RM150/m.

Now i'm 30+ y.o. paying RM170/m. Increase RM20 only.

Ok la not scam I think.

I believe your old plan coverage very little...not enough to cover medical bills nowadays.

Just like mine... bought 16 yrs ago...coverage only 60k.

Bough new plan last year.... coverage 500k.

already proved that you're wrong then u move the goalpost

my agent told me my current RM170/m IL+medical cover

medical
-daily room and board RM200
-Annual limit 120k
-lifetime 1.2million

death 30k

permanent disablement 30k

I think it is reasonable for RM170/m

He is lying.

unless u wanna share room with others lah
lately single room oredi >rm300++

and did he tell u if u use >20% of your limit, u need to borne some charges after that?

This post has been edited by theberry: Sep 13 2022, 10:28 AM

I had a similar plan like yours previously. There's a coinsurance where you need to pay certain percentage of the bill.

Also I think there should be a revision to increase your premium but you didn't opt in/give consent.

if affordable

u should find something had higher death and permanent cover

30k a bit too low for auch case

I know.

Hari hari open insurance thread

buy medical card without any rider attached. simple

based on my actuarial science degree from google.com, best package is no investment thingy attached.

Just get term insurance. For RM200 monthly you can get 1M or more coverage which actually makes a difference if you get to claim but then you try to bundle investment link then ended up RM200 can't even get RM200k

This post has been edited by sinkiebaharu: Sep 13 2022, 10:37 AM

Msig got stand alone one , cheaper by 2-3 time if compare to investment link one.

I give no flying fuck how u want spend yr money

you need insurance if you dont have savings.

even with savings, insurance can be a better bet.

finding a good insurance is the issue

noob kia got no point to argue

Understand what is insurance vs assurance

Also ask the agent to send u the whole disclosure sheet, I know for sure some agents will snap parts of here and there to hide the part of commission payout. We knew its a commissioned sales, just don't understand why they so sked and stupid

From there you can see the breakdown of charges.

And why investment link? I rather pay the fixed amount from month 1 till month xx when I die or policy mature rather than the term or standalone traditional type where it increases every year.

That is where the investment part covers and hedge the premium.

Just go read the quotation and disclosure sheet

up

Insurance is obviously a scam .. Been paying mine since 2017 and never once i use itbur the insurer write to me that there will be a hike in premium payments because others are using it casing the pool to shrink ..

What mather faaker reason!

This post has been edited by LuckyBai: Oct 24 2022, 09:27 AM

Any conclusion whether or not nvestment linked is or standalone medical card which is better?

Don't expect the agent know everything and every clauses or every situation

What is in their mind was just money and commission by convincing you to sign the policy with them

The only thing you need most is your medical card... and insured against the standard critical illness.

Don't every mix investment with health insurance... coZ by experience you will get the worst deals of both sides from smealyz investment gains and poor payout and coverage from insurance upon any confirmed illness...

Used to believe in insurance.. but to me it's just a load of scams... cashing out also it's soo hard for them to give you a payout... and they make it really hard for you to get that pot of money. Insurance company will ASK up till 4 previous employments on your health and mc records which you gottan obtain.

If they find a single spec or issue with your health that they can use as a loop hole as to not payout... they will definitely do that and go down that path as to not pay you. Unless you are super clean and dont drink and dont smoke and eat healthy or organic..and in a health industry by profession.. which gives them no excuse not to payout then you should be in a good position. This is also if payout is a 7 figure sum... all depends also on how good is your Insurance AGENT... to present the case in the directors meeting as they need to evaluate your case for payout.

If your AGENT is pandan and soi boy and dunno how to defend your case properly and is dumfuk... directors would not be convinced to release the money and end of the day you are also farked...

So choose your agents properly and dun simply sign up with any tom dic and harry agents just becoz of friends or they want to earn your commission.

Thats my 200cents of advice and all above is my opinion solely based on what i've experienced or someone close to me went throguh...

annual management fee charged to investment fund

Haha ... BNM already "fired" the insurers and forced them to set out more realistic numbers for ILPs due to outright misleading information provided by the company to the agent !

Just goggle for the BNM directive ... jangan malas

Yes it is a scam
An example is HSBC Universal Treasure Plus
The bank agent will earn high commission selling you the product
In return you will lose a huge amount of money

Why not cancel it straight jer?

Many of my friends and relatives cancelled their policy straight after COVID.

Conclusion:

ILP need to pay yearly fund management fee 1-2%. Return is so so at 3-4% ..

Ignorance people get mislead into buying ILP thinking the Investment can help to offset premium later. They pay a higher monthly fee to cover insurance and investment. Agent also get a higher commission.

The truth is, you can actually buy a standalone and invest the extra money your own way. You can offset the premium in the future using your own investment . Pay zero fee for investment and potentially higher return if you know how.

ILP is just a way for them to make more money. The fund manager charge u 1-2% every year and agent drive bmw.

not sure how your 1-2% extra maybe rm3-4 extra can make an agent drive BMW lol...

But some one pointed out above GE scenario the standalone policy commission is higher than ILP how leh ?

they don't mind, because no investment agent earn RM3-4 less maybe but 30-40 more...

so agent don't drive BMW but Ferrari. as long no BMW... lol

Only stupid people buy ILP medical card.

tipu. masih kena bayar juga kenaikan tersebut...

can share non ILP insurance?
if got i update my first post

This post has been edited by theberry: Oct 24 2022, 11:26 AM

Yes is a scam
20 pay, 1 claim on average
U only pay agent's recond car

The management fee don't go to agent. It's for fund manager that manage your investment fund. If you think 1% is low, times with the size of their fund then you know. Remember fund manager usually manage ten to hundreds of millions.

If....

Might as well say don't buy any insurance if one is rich enough to cover potential medical fee.

That one I have no idea. But think about this. ILP usually pay 3-4 times more per month.

The fee is in percentage. So who pay more at the end?

100 x 10% = 10
300 x 8% = 24

What u talking about? Even rich people buy insurance. Insurance is a good thing, protect you from the risk. Not the ILP.

It's better to rely on the payment schedule of the insurance plan to see how it scales as one ages.

Some non ILP plans like standalone medical card or term plan pricing towards older age scales up very high.

But as 4D is not compulsory to buy, i think insurance is also in that sense not compulsory. It's like how we see people queue up buy 4D hoping to kena and this is other way round. Hope don't kena then Win.

i hope BNM ban ILP insurance