Allianz insurance company increase their Cost of insurance charges by 20% this 2nd half year.
is already publish on the news.u can google it.
increase because their insurance charges are low not enough for the pool fund to cover it anymore.
correct me if im wrong.thanks
Simon-Great Eastern.

Hi carboost
1st of all im Simon From Great Eastern.
i will try my best to answer your Question here,if anything wrong u can correct me.
In Malaysia insurance or financial industry,all the plan or package that introduce to the public will be verify by Bank Negara Malaysia(BNM).
- for insurance industry,all the medical card in Malaysia insurance company is almost the similar same because it have to be approve by BNM.
like housing loan or credit card too,is almost the same.

1) for Portfolio withdrawal condition,it almost apply to every insurance company in Malaysia,u can check other insurance company too(Only prudential have the clause for Guarantee Renewal)
-Portfolio withdrawal condition - FOR THIS it mean if COMPANY would like to withdraw the plan it will withdraw from the market and not selling to the public anymore.

2)why have this clause ?because example previously great eastern have many different plan of medical card Example ILHP(IL health protector which limit is around 60k/year lifetime 200k) it already withdrawn from the company as this plan not longer selling(for who already buy it u can still renew it every year as long no lapse/no termination/no finish the annual or life time limit)
i can show u prove if u need for this.so no worry about this.

if any enquiry u can ask free feel to PM me.
call/sms/whatapp me also 0173072095-Simon

Bro calm down.
we are explaining to you slowly.
according to TCPKeith is correct
This reserve the right for GE to withdraw the Medical Plan in the future. This is applicable to ALL INSURANCE COMPANY,approve by BANK NEGARA MALAYSIA is not a LIE by the AGENT.IS BEEN APPROVE.
Only Prudential have that guarantee renewal clause in their policy so far.
for this Question,i did ask management of GE and they say IT IS not compulsory for Company to put this clause.
same goes to Co-insurance,if future bank negara malaysia said THERE IS A MUST CO-insurance then all company will apply this too or all apply no CO-insurance. there is why u see why some company no Co-insurance some have co-insurance.

But Great Eastern as a leading insurance company in Malaysia their main business income is from selling medical card which like TCPKeith said
Which is impossible, it would be like saying a motorbike shop not selling motorbikes or a General Insurance company not providing motor insurance.
Great Eastern is achieving Gold Award from the Reader Digest mean the vote from the public opinion,GE had 106 years of history and be the largest and eldest insurance company in malaysia.u can google it.

For your friend case,we cant say guarantee what is the problem.because we duno which plan he buying.is general or life insurance and what happen in between.
If he did pay premium promtly and no lapse,there is no way company will cancel your medical card UNLESS that is general insurance medical card which have to renew EVERY YEAR based on health condition.
There is a clause in policy which mention the policy wont be lapse as long the client paid premium/the annual limit havent finish yet.
and if u found the clause and it againts the clause
bro write in letter to bank negara malaysia and complaints,it will take action.
anything u can call me 0173072095-simon

i just wanna let him know that GE had his own reputation in d market.just like Eu Yan Sang in the market.
not just simply say GE is bad because of that clause,because it apply to all company anyway other than Prudential.
No matter what plan u buy even the lower coverage or highest coverage
if the agent not servicing you,is no point.
for me Agent come 1st.anyway different people different.