JiuHwei, maybe my case is too long story that u didn't complete in reading it. to let u know ur above is totally out of topic actually...

This post has been edited by FireUp: Aug 26 2014, 11:33 PM

Ah, I really didn't read up on the previous posts!
Sorry boss. Guilty as charged.

If anything, I do hope that the unfortunate episode is in the past and done with.
Let's concentrate on moving forward together from this point onward.

The address above is BNM's Corporate Communication Department, they don't handle your complaints. Should write in to the insurer's HO and make a copy to BNMTelelink (details below). Insurance company are now required by BNM to have proper and independent complaints management process, most of the time you can trust them to handle your complaints fairly as their reputations are at stake too. By copying BNMTelelink, you are giving an opportunity for BNM to monitor the insurer's performance in complaints handling, trust me, BNM will follow up every case submitted by the public.

BY MAIL

Contact Centre (BNMTELELINK)
Laman Informasi Nasihat dan Khidmat (LINK)
Bank Negara Malaysia
P.O. Box 10922
50929 Kuala Lumpur

TELEPHONE/FACSIMILE/E-MAIL

Tel : 1-300-88-5465 (1-300-88-LINK)
(Overseas: +603-2174-1717)
Fax: +603-2174-1515
E-mail: bnmtelelink@bnm.gov.my

If a final solution and decision has been made by the insurer towards your complaint and if you are still not satisfy with it, there is another channel called the Financial Mediation Bureau (FMB), which is an agency under the administration of BNM, that you can go to. FMB are set up as an alternative dispute resolution channel to assist financial consumers to resolve their disputes with the Financial Service Providers (FSPs) like insurers after a final decision has been made by the FSPs:

FINANCIAL MEDIATION BUREAU
Level 14, Main Block Menara Takaful Malaysia No. 4, Jalan Sultan Sulaiman 50000 Kuala Lumpur.
03-2272 2811

Hope all these helps.

This post has been edited by calebc: Oct 9 2014, 02:49 PM

All in all i would like to express my hard-felt feeling to you as i have a medical card provided by my company and it is capped and 40 ringgit and the rest i have to pay upfront. I would strongly recommend prudential as i am saying this not because i am an agent as my mum bought a prudential premium policy as the medical bill is reimbursed amounting up to 40,000 is reimbursed fully after the operation due to breast cancer.

I am looking at AIA policy.

AIA agent, please PM me. Thanks.

all medical card has its advantages and disadvantages .what separates a good insurance all boils down to the agents. there's a lot of good agents and bad ones too

Can some insurance agent advice me on the below:

1. I bought AIA insurance 20 yrs back and for example critical illness payout only rm15k and no medical card.

Should I upgrade my existing plan or buy a new standalone plan from AIA or other insurance company. What are the pros n cos?

Hi I am from AIA.
First I would need to look at your policy booklet and find out exactly what policy it is.

I think that is the first thing to do before jumping the gun and buy for the sake of buying.

You can shoot me a private message if you would like to arrange for a review.

well a new policy with your current needs is more suitable . . .
you may as well continue ur AIA policy

Hi All,

It is really shocking to read about all this on AIA. I too have my disappointment with AIA.

1) Does anyone know if the so call cash value in a table showing your year of purchase until 10-20-30 years amount of cash value that is shared with policy owners that purchased in sometime early 2000 - 2008 if it measures up? I understand it doesn't matches up or even at close +/- 20-30% and in fact would be very much lower than expected. Yeah! Yeah! they tell you it's forecasted but you mean they didn't manage your funds well until your cash value is so far away and when they sell you at that time, this can be your retirement fund. Can anyone share if such cash value comensurates with the cash value table?

2) I would also like to highlight that in early 2015, AIA seems to have billing issues for customers. I have been billed many times for the policy and calling the customer service is of no help and asking your agent, which they will side to AIA and say "computer upgrading, please be patient la!". After 2-3 months of such duplicate billing, computer still upgrading and customer service still got no answer??? I'm not sure how many of you experienced this issue last year.

1. Firstly, need to know what type of funds you've invested back then. Whether it's a high risk fund or not

If it's an investment link plan, you are bound to agree that the investment part is written clear not guaranteed, not sure what that agent told u when he signed u up. It can happen to any insurance company out there not just AIA.

2. What type of billing are you talking about ? As I don't have a full picture of what you're going through, you may feel free to elaborate further.

There's no need to hide around say what type of billing he's talking about. You and I know damn well what he's talking about.

There was a systems migration exercise in 2015. Meaning to say old ING and old AIA operations structures and systems were being migrated onto the same platform, with one new system to operate.
While that was happening, a big chunk of customers were affected.
Some are receiving multiple billing letters, some didn't receive any reminder.
And this issue affected billings, statements, and God knows how many redundancy was there.
A small portion of customers were billed multiple times and a manual refund had to be done.

Come 2016, majority of those issues were rectified, and it is business as usual again. However, there are still lingering issues where some customers are overseas and yet to be able to come back.
However, the premium statements were issued only recently to customers.
This is super slow and it has never been AIA's norm.
We have been sounding this issues up at our agents' union and Anusha (current CEO) is assuring us that the issues are being dealt with.

So to the policy holders, there is nothing to worry about. The systems migration is done. If your agent is still blaming system migration, it's time to get a better agent.
As for the AIA agents, pathetically defending the company is pathetic.
Every company had a tough time last year with GST alone.
Yet, AIA came through with not only GST, but systems migration, and on top of that completing an M&A of two giant companies. All this in the same year.

This is what a good organization can do.
It's not perfect, service to the customers were a little bumpy, even our commissions were slightly affected.
But at the end of the day, all is resolved.
If you can take a macro view of AIA in 2015... This is a fucking good company, in my honest opinion.
I am genuinely very impressed.

This post has been edited by JIUHWEI: Mar 24 2016, 07:26 PM

Well, you are right, the actual are far lower than what hey tell you. The projected table are meant to mislead and cheat you to buy.
If say market is bad, now CI for Bursa are all time high at 17++ comparing to 10 years at 1000-1300.
If say market is bad, Merc sales are again all time high comparing to previous years.
Have to know that, buying insurance is you serve the policy, not the agent serves you. As long as you sign the policy, basically is non of their business. Your agent are doing the right thing by giving excuse and ignoring you. For me if the amount are not much, I'll just cancel it and take it as a lesson.

KUALA LUMPUR: AIA Bhd, which for the past three consecutive years posted a significant increase in value of new business (VONB), has yet recorded another commendable performance .

It recorded an increase of 27% in VONB for fiscal year ended Nov 30, 2015 to RM673mil.
For this period, the company outperformed the industry with a 10.7% growth in annualised new premiums compared with 6% growth achieved by the combined life insurance and Takaful segments.

The sterling performance was due to the insurer's focused multi- distribution strategy which saw each of its main business lines posting strong growth.


Its CEO Anusha Thavarajah said the insurer was the fastest life Takaful company in the country last year.

The spectacular results according to her was also due to increased productivity among its agency force and higher recruitment of quality full time life planners.

She said this during a press briefing in conjunction with the company's performance.

In the second half of the financial year, she said the number of active new planners increased by 20%, while active agents selling AIA's Takaful solutions rose by 40%.

Its partnership distribution and corporate solutions channels also contributed excellent growth in VONB of 33% and 20% respectively.

Being curious of insurance, instead of buying direct from my old agent in AIA (bought my policies with her since 2003), i went in and joined AIA instead as an agent.

I get more tools, and knowledge of how this industry works, and able to service myself (bought for my self 2 policies) instead..all DIY

And i seriously prefer to old website in 2015. the 2016 kinda succk balls imho..... too simplified...

And i even went to become a unit trust agent with cimb to learn more about unit trusts, and investment link funds, which most insurance agent wont be able to tell you shit about the details in their investment funds...most simply tembak the fund they CHOOSE for you without even going through their performance index, which is located in their website (most dont even know where the link is, roflmao)


As per your questions:

1) visit this link http://www.aia.com.my/en/our-products/inve...nked-funds.html
Also refer to you annual statements which will show you your fund performance and cash value on hand and units available.

You can also do FREE switching between funds. More than 10 of them. Right now, i prefer international small caps, and equity dividend fund. Mostly towards moderate-aggressive funds, partly due to long term investments, diversity in many industry and country involved, and dollar cost averaging plus bonus and dividends.

So compare the type of funds your police has invested in, go to the link i gave you, check for its performance and other funds as well.

List of funds in AIA:
AIA Equity Plus Fund
AIA Fixed Income Fund
AIA Balanced Fund
AIA Dana Progresif
AIA Dana Dinamik
AIA Aggresive Fund
AIA Medium Cap Fund
AIA New Horizon Fund
AIA Asia Platinum Fund
AIA International Small Cap Fund (usually i put 50% here)
AIA Eleven Plus Fund
AIA Dana Bon
AIA Asia Opportunity Fund
AIA Equity Dividend Fund (another favourite fund)
AIA Asian Debt Fund
AIA Asian Equity Fund
AIA International High Dividend Fund
PB Income Plus 2 Fund
PB Income Plus Fund

Also, you can opt to WITHDRAW your fund value (not sure, but need about 5 to 10% kept in your policy, the rest can withdraw) for your other investment purposes (which i advise is to invest in unit trust and NOT spend it lol)


2) Everything should be in order now. system migrations and integrations is never easy or problem free. Been in the IT line for 15 years now.


cheers


ADD:

You also have an option to opt for e-policy, which means its all on their AIA portal (applicable for new policies only)
https://www.aia.net.my/MyService/

Register with your policy number

and to my surprise, my old 2003 policies are listed there as well, but the policy contract isn't, only the new one is.
But i can track my 2003 investment link funds performance index here through this client portal.

Can even track my claims, if there are.

pretty cool.

This post has been edited by mobileapps: Apr 2 2016, 02:17 PM

I'm a medical card holder.
I'd like to add on the complaint to tha AIA insurance company, instead of solve my problem, the AIA customer service is really useless. For example, in the same email, despite I chasing them the claim for more than a month, they just replied me with different case number, without a realistic approach.
Besides, the staffs in customer helpline are not equipped with sufficient product knowledge. This is a very worst insurance company that I have come across so far.

I bought a A-Life Link + Medi Plus Investment Link Plan from my friend, from AIA.
Every month I'm paying RM500.
After servicing one and a half years I check my fund value and is terribly shock to see it's only RM6.3k despite I've been forked out RM8k so far.
And I find out from every RM500 only RM420 was invested for UT. Others are management fee, charges, GST bla bla bla. It's a bloody 16%!

I feel like bloody cheated. I bought it in hope for capital appreciation, I address this issue clearly before I sign the plan.
Now tell me how many UT out there can beat an appreciation of 16%?
Not to mention my coverage from Medi Plus is only fcuking RM10k in case of death or permanent disable.
Seriously? RM10k only?

Currently on premium holiday. Still thinking what to do next.

IMO AIA ILP policy sucks. At least for the one I'm holding.

So disappointed I must say.

This post has been edited by ykit_88: Jul 11 2016, 06:18 PM

Hello, u are buying INSURANCE, it is an EXPENSE.

U expect to pay RM8K and get back RM8K cash value, i.e. get insured for FREE?

Know your insurance and finance.

What is investment-linked insurance?
It is buying into UTs, and using the UTs' value to pay for your insurance costs.
E.g. your insurance cost per annum is RM2K, and you pay RM8K per year, you should get back only RM6K of value (assuming zero management fee, agent commission, charges etc, just for discussion purpose).

Don't simply tembak if u don't do your homework, and it's obvious that u did not read your policy document.

P.S - I'm not an insurance agent

This post has been edited by Pink Spider: Jul 11 2016, 05:53 PM

Hello. Did u even READ?

No. I don't expect to pay for free.
But deduct 16% of my fee to cover only RM10k in case of death and disable? It's overpriced!

Don't simply tembak reply if u don't even read.
And you're not helping. Stop flaming.

This post has been edited by ykit_88: Jul 11 2016, 05:55 PM

I repeat - you did not read your policy document

Read the section on the rate of agent commission, and section on charges.

And, do u know that share markets did not performed well over the past 1 year and so?
UTs are investments, u expect your insurance company's fund managers to beat the market and deliver positive returns all the time?

I dare you to report to the insurance company, Securities Commission, Bank Negara or any higher authority, all will laugh u off.

Calling roystevenung
He's Prudential agent, NOT AIA agent. He will gladly tembak u into enlightenment.

This post has been edited by Pink Spider: Jul 11 2016, 05:58 PM