Fund you decide when buying. You need to review your fund performance.every now and then. Anyway review fund also useless. Majority of the fund useless. Cannot even match FD. I give you example of a review I did. I was invested into principal Asia Pacific ex Japan for my prs. I reviewed it and was seeing not even matching elf return. Switch it to principal retire easy 50 and now get better returns. This is review of investment not insurance. Yes this review is done myself. No agent.

Agent will review do you want upgrade to more expensive plan. Show you better and newer plan with better/worse premium for higher coverage. See if you want to add on additional insurance.

Generally review oy needed if you are getting married, have children, higher pay, getting a house. Or once every 10y. As long as you are healthy, should always review your medical insurance plan.

Cause like plans are obsolete. Eg RM50k coverage for say RM5k. Mad man if never review.

Just be careful. That time usually they will to push you new product. They like to push nice to have and not must have. Find an agent who don't push anything to you.

Wealth planner just fancy marketing term for agent.

This post has been edited by Ramjade: Jan 15 2024, 01:07 PM

perhaps those wealth planner you met really insurance agent ... wealth planner looks at holistic view of you expenditure and future income and give you proper financial advise; and how much should spend on insurance etc...

too bad you met those 'fancy' insurance agent that masked themselves as wealth planner

You know somebody? Throw them my way and I will judge. I am more than happy to be proven wrong.

This post has been edited by Ramjade: Jan 15 2024, 01:12 PM

A non qualified or non certified persons can have a vast different of opinions/views/ideas to gives while a qualified or certified persons cannot gives due to what they knew and qualified to gives

This post has been edited by MUM: Jan 15 2024, 01:18 PM

And as long as they have something to sell after analysing your portfolio....its a clouded judgment... its somehow conflicting interests no...?

You goto the hospital for medical consultation,...the doctor after reviewing your conditions recommend some actions need to be done. These actions can be made in that hospital.
Is that "a clouded judgment... its somehow conflicting interests too no...?"
Ha ha

This post has been edited by MUM: Jan 15 2024, 01:28 PM

Well I make it to where I am today without relying on agents, banker, "financial planners". So I will say those non certified people really help me out while those certified people only try taking my money.

Not necessarily. If they can recommend something that is good that you might have overlook, no harm. At least this is what I got from reading Mr stingy and no money la blog. They went into financial planning with open mind even though they know quite a lot on personal finance.

They wanted to charge me RM200-300/h lol. Forget it. I am not even paid that much.

This post has been edited by Ramjade: Jan 15 2024, 01:35 PM

Good for you,
Luckily there are regulations imposed recently relating to giving unqualified advise relating to investment....Good for majority of the population

Good for agents and bankers. More money for them to feast on.

Yes, and i akso think BNM think it is Good for the majority of the population as majority can get qualified investment advises to what BNM wanted the majority to have.

I have another AIA investment linked insurance including medical card 1 million and life worth 430k. Premium monthly RM300 for now, and premium only guaranteed up to 60 yo only. after that premium will be rocket high I guess since my premium not enough to cover after 60 yo. I am getting this extra 500k life insurance to make up 1 million coverage. Useful when buying property, no need subscribe MRTA or MLTA. I have been getting standalone life insurance quotation from AIA too, but premium is far higher than etiqa.

I see a lot of post calculating the worthiness of insurance by the premium cost vs fund performance and never get to utilize them etc, just sharing my experience here

When I started working I was sort of pressured into taking a medical insurance (200k limit PA), had to pay about 200+ per month. Then about 3rd or 4th year of working, I had spinal injuries which translate into 40k+ medical bill (Gov hospital waiting period is about 9months+ for the surgery)

Then my kid came along and I took out another medical plan for him once he is 1month old, and within 3 years of his life he had 2 surgeries (Due to accident + illness), 30k+ medical bills

Also since my own medical plan had kinda low limit, I did bought another medical plan but it has exclusion regarding the previous conditions (i.e spinal thingy), so yeah I'd like to think getting a high limit medical card when you are still healthy is important

Same thing applies when you are the sole income earner in your family, and you still have mortgage/car loan etc, some sort of insurance like Life/CI/MRTA is no brainer

If still healthy can switch insurance to those with higher coverage. Usually premium more or less the same.

I think, it is worth it for "investment linked insurance including medical card 1 million and life worth 430k. Premium monthly RM300 for now, and premium only guaranteed up to 60 yo only."

For this product, the premium is guaranteed "no increase" till 60 yrs.?
If yes, it is a damn Good value.
My spouse is paying 290 pm med n life coverage of just 300k for a STANDALONE insurance. It started with 930 pa rises to 3450 pa in 13 yrs time. (1 yr about 20% increase). My expectation is the premium of my spouse to hit 400 per month by 3 yrs time at age 55.

Regarding this MRTA/MLTA, ....does it covers TPD?
If TPD no need to pay housing loan also?

Your current life insurance coverage of 1 mil also covers TPD? How many % of that 1 mil will it covers if hv TPD?
Enough to covers the housing loan?

This post has been edited by MUM: Jan 15 2024, 06:26 PM

Guys, I'm including the insurance charge tables for SmartMedic Extra so you can see for yourself the quantum of increases.

1. Launch in 2014


2. 1st repricing in June 2020


3. 2nd repricing in July 2023



This post has been edited by contestchris: Jan 15 2024, 06:42 PM

just for some FUN comparison purposes....as there are many other unknown factors....

the quantum of rate of increase of my spouse STANDALONE insurance VS SmartMedic Extra (ILP) (as posted by Contestchris at above post)

This post has been edited by MUM: Jan 15 2024, 07:43 PM


Attached thumbnail(s)

Should be guaranteed as stated, unless there is other clause read together and will override this term. But there was one time adjustment due to med card upgrades. Yes tpd covered full payout.

1 mil is more than enough, cash reserve also prepared to cover any unforeseen events.


This post has been edited by Jack&Guild: Jan 15 2024, 07:30 PM

High limit memang important. My friend 60+ never use insurance all his life. He told me wasting money only buying insurance but still pay for it. Lol.

Possible too... hence second opinion...

On serious note, they are subjected to rigorous selection and carry oaths and obligations that need to have its own insurance too... yes? As for certified or qualified financial planner... so far have not needed one... maybe too peasant of level....