So far no heard got case la , GE one masuk news few time . Ppl cancer they deny claim say u got back pain issue niver disclose then deny claim , padahal not related pun .

No, this is due to repricing. The increasing cost of insurance cue to age increase is already priced in at policy inception.

Insurance company purposely set the annual limit to 1mil so to increase premium. Scam to the max!

How many need 1mil medical per year? 1 in million?

Just check GE(Sinkie), AIA(HK) and Prudential(British) all not local boss 1 eh rupanya. Their premiums collected really a lot, very good business.

They wun scare you claim 1M because no way can claim that much. Claim 150K above also very serious adi and you likely can't work adi.

No. I guess it's BNM rules that they have to invest locally. There are some global funds but never pure US fund.

To add on, if a fund is not performing, then increase in premium is likely going to be more frequent. Increase in premium is cause by
1. Not much money left in the pool as lots of people claim
2. Underperforming or not performing funds
3. Medical inflation

Is Fi.life good and anyone use this before?

They are just act like online agent. The main company is who fi.life is distributing for. For medical it is generali Malaysia (previously AXA).

i have checked, agent/insurance company said oh your this policy cannot purchase US fund because of we need to be risk-averse .
Niamah really, putting in malaysia market even more riskier as we are losing/depreciating 2% riggint yearly against SGD. even if they allow SP500 index purchase also proven in 20 years simply 10X better than put in Malaysia market (unfriendly to make business, how stock will rise ?)

Already experienced this revision of premium 2 years ago. My SA got grilled by me, I was so furious , I asked him “ did you or did you not said the premium will be locked / frozen, the earlier you buy, the cheaper it is?”. He just remained silent. Had they are more ethical & made known this, I”ll not be that angry. Now they will said it was due to the BNM instruction/ regulation. All my kids premium , I decided to purchase from another agents after the incident.

My intention is to get TS to grilled his SA if he was promised the similar, mana tau he said his SA no more.

Yea.. allianz saya also want me to top up and send a letter giving a lot of reason.. say average claim increase, and medical fee increase..
But never say why their investment like shet return and cannot cover

This post has been edited by Boomwick: Jul 28 2023, 08:05 PM

But I feel the pricing seem quite okay for PA insurance and kids medical card.

It is abit technical to explain over text and no drawing but long story short is, if more people claim, insurance compamy need to increase the charges, then customer need to pay more premium.

You can always reach out to GE for advice. But i will be honest, if you want the insurance coverage, the simpler solution is to pay the increase in premium.

If you are young, maybe still ok. By young i mean, below 30 years old. At some point, the premium you pay is not enough to sustain your future charges then your policy will lapse. Lapse means no coverage.

But anyway, there is too many moving parts that it is really hard to explain and generalise. Your rm3600 may be enough, may not be enough.

3 to 5 years is usually time already.

There are 2 kinds of increment. 1 is if your age increase. 2 is if everybody who bought the same thing going to pay the higher prive for the same thing.

1 is following the line on the graph. 2 is moving the entire line up on the graph. Not the same.

This post has been edited by adele123: Jul 28 2023, 08:54 PM

My take on why most investment linked don't have pure US equity funds.

Simply reason, what's the world's most performing stock market in the long run? It's US. If they put your funds in US equity funds, it means that your policy investment portion will do well. Thus, no excuse for them to increase your premium due to policy can't sustained.

But those conservative people who go and select local income fund in their policy, Conlanfirm in the long run return is negative. So of course the policy can't sustain. Then will ask you to top up premium to sustain longer.

Double posted

This post has been edited by cedriclee: Jul 28 2023, 09:01 PM

Please dont trsut your agent. Read the official materials to be safe.

My great eastern oso increase from 300 to 340

You buy from what company is the same. All ILP will have this problem. Only way to avoid this problem is buy standlaone. But standalone can also have this issue if say not enough money in the insurance pool already.

Their PA don't think it's under Generali.

10 years ago only had increase? Mine 5 years only.. got letter increasing, just like the one you had. But mine was Allianz.

Right. I tried to change to the most good.. but they didn't approve at first. I don't have that letter, they were asking some stuff.. I just decided to ignore it.

For awhile should be.. you have another 2 years. But I hope it will still stay the same for you.

Maybe I'm not smart, but it is still not making sense to me. I got premium increase letter, and I spoke with my agent. My agent told me a lot of stuff, some examples.. "a lot of people claiming, and also medical cost gone up, with ringgit performing very bad."

I was there like .. "a lot of people claiming, and I never claimed but they want to increase mine also? why not just increase only those who have made claims?"

Medical cost gone up? I was like, "well, medical cost up or down, if I claim, I still will only get within my limit/plan which they've already allocated. In case ringgit starts doing well, will my coverage increase? no right?" "if my plan is 500k, then doesn't matter cost up or down, I should entitle for max 500k."

So this:

As long I pay the agreed price today, even 20 years from now.. they should be able to provide coverage for RM1m per year.

But after years paying, they say to continue providing the agreed coverage, they have to increase premium!

I'm not asking for RM1.5m coverage because of medical inflation right? So they shouldn't increase!

i hv just terminated and take back the money