because once u leave your company, u will not enjoy the benefit.

by the way, i am from ING providing one stop financial solutions.
feel free to ask for any information. advising is FOC. don't worry. ^^

1. Yes
2. 2
3. Medical Card,Personal Accident.(will gt Endownment plan n oso Unit Linked policy very soon)
4. ING
5. 2K..

Here r my advice 4 TS..

A person should atleast hv a Medical Card 4 ur health coverage n oso any endowment/retirement policy..
If u have any dependents like children,wife...Then u shud have a term o whole life policy..So that they are secured when de person die..

Some of the answers are quite obvious as you wont be sticking to that particular company for the rest of ur life right. So get your medical healthcare insurance when you are at you "tip top" condition and do plan for future as a few nights admission to hospital for dengue fever can cost up to 10K today. What is the cost in 5 to 10yrs time? Take a calculator and punch in the figures!

Btw, i'm attached to Allianz Life Malaysia and you can email me at chew_ronnie@hotmail.com

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Added on March 6, 2009, 4:40 pmIt is not how many policies or which insurance company you prefer or what is your premium. Its a matter of how much you're being protected. That matters alot.

A typical sufficient coverage for an employee in their 30's shall be as follows:
Life/Death : 200K
Critical Illness : 200K
P.Accident : 200K
Hospitalisation and Surgical Benefit : 1M and Room and Board shall be above RM200/day

Above are todays standard! 10 years from today? You do the calculation. Plan for your future.

chew_ronnie@hotmail.com, Allianz Advisor

This post has been edited by chew_ronnie: Mar 6 2009, 04:40 PM

Agree...

Guys,
I I have MLTA, so I should not buy Life Insurance. Is this correct?
Which insurance has standalone medical card, without investment and life insurance?
I checked with Prudential they dont have.
I need also Stand alone medical card with critical illness.

"IF" you have the chance to grow old.

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Added on April 15, 2010, 6:15 pmwhen I just started my first full time jobs. I had ~$500/ months policies. Some are forced saving, investment, critical illness, life and medical. Most can get the money back at certain time (about time for my elder to enter uni). It is more than 30% of my pay that time. Today is about $800/month.

Think about who depend on your income for food, school fees etc to gauge how much you need to protect them (not you). That's why I buy insurance, not for my retirement. I rather buy property that generate rental for my retirement as that is more reliable. Today you talk about you need $xxx for retirement, are you sure 30 years later you still can affort a roof over your head with that money? Cover your short and mid term, forget about retirement saving talks by bank and insurance.

They want your long term money so that they can gamble(or invest) and pay for their CEO. look at the last financial crisis, some old folks lost all their retirement fund!


This post has been edited by r1v3r: Apr 15 2010, 06:15 PM

Most big companies do have medical insurance for their staff. By the way, not all dengue cases have to be admitted. You can just go to a clinic for daily platelet count tests, if the platelet count drops below a certain level, then get admiitted. By doing that, the whole illness may cost less than RM150. By the way, GH is pretty good at treating dengue, and platelet transfusion if needed, is free.

This post has been edited by newbie99: Apr 16 2010, 11:59 AM

It depends as sometime how the MLTA is packaged. You may want to find out if your MLTA covers the critical illness as well.

Apart from that, a good MLTA serves as liability cancellation scheme ie to ensure your property remains as yours if you're struck with death, disability or critical illness. Life insurance on the other hand ensures you have liquid cash to make sure your life goes on if you're struck with TPD or CI. In the event of death, your dependents would also receive a sum of money apart from the property to ensure they're able to make through their lives.

If you'd like a standalone medical card you could consider Great Eastern or ING. You should be able to purchase a CI policy too from these companies.

Let me know if you need further info on these.

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Added on April 16, 2010, 1:11 pmThe amount covered is usually limited to a certain quantum and till you retire from the company. What happens post retirement? Apart from that, what happens in case of retrenchment, etc. You should always aim to get your medical insurance when you're healthy as you may not be able to get it later on if you've contracted serious deceases.

Dengue is definitely curable provided it's detected early enough but usually this isn't the case. GH as you said is good place to get treatment but some people would just like to have an alternative to this.


This post has been edited by HHalphaomega: Apr 16 2010, 01:11 PM

1. yes
2. 5-7 (i think)
3. life, medical, pa...motor insurance
4. aia (soon changing name )
5. yearly -about rm6k (in total)

1. Yes
2&3. 3 Life Insurance & Saving Insurance & Car (thinking of getting medical card)
4. None
5. 1.4K for me + 800 for car

This post has been edited by alfred liew: Apr 16 2010, 03:08 PM

When u retire from the company, u should have enough money for your own illness. Insurance is for those people who dont have enough to cover their liabilities, eg illness. If you get retrenched, and u happen to be sick, just go to GH.

Dengue is usually a mild illness. Only a very small percentage have dengue haemorrhagic fever, which is life threatening.

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Added on April 16, 2010, 3:35 pm

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Added on April 16, 2010, 3:37 pmHi, To answer your survey,

1. Yes
2. One (excluding MRTAs, all the car, house, shop insurance)
3. One PA= 3M
4. None.
5. Personal 3k for PA

This post has been edited by newbie99: Apr 16 2010, 03:48 PM

A1: Yes

A2: 6

A3: Life, PA, TPD, Med Card, CI.

A4: Whichever whose agents are easily accessible and helpful and knowledgeable... and agent's greatest turn-off is when using hard sell techniques

A5: RM 9.5K p.a.

Xuzen

This post has been edited by xuzen: Apr 16 2010, 04:22 PM

While you're right in some sense about post retirement, I don't think it's wise to spend a large portion or all your retirement funds on medical costs which by the way is constantly escalating. Retirement funds are meant to keep you going till you depart from this world.

Going to GH is also fine if you don't mind the treatment you may get there. I have nothing against the government hospitals. While it ultimately boils downs to the doctors & nurses treating you, a good treatment is somehow not as consistent and frequent at GH as in the private hospital.

Clap Clap Clap for u

Retirement fund for healthcare? This is the 1st time i hear this by drenching one's life savings to the doctors. No hard feelings ok? Getting an insurance policy is just using one's 3 to 10% of their income / investment returns, and say by using a RM1.8k / yr to get an insurance can easily covers the medical bills to up to RM1M/ lifetime. How long one need to save to reach a million. Don't u think this is a good ROI? But the best thing is dont get sick / accident which is out of our control.
Again no offence

What is wrong with using retirement fund for healthcare? Your retirement fund is to keep your alive and healthy until u pass on. Isnt healthcare one of the basic needs when you retire?

If you have to drench your life saving to the doctors when you retire, you are either severely sick person or you dont have much to retire to start with.

By the way, if you save RM400 a month, when you retire, which I assume your working life is 35 years and you earn 8% a year average, you would have one million when you retire.

I agree accident is out of our control. Chronic illness can be predicted and usually runs in the family. That's why the insurance policy always check the medical background of your parents and siblings.

Haha! ROI? Return on investment? Where is the return? Buying medical insurance is an investment? This is the 1st time I heard buying medical insurance is an investment and you hope for a return on your investment. More likely as a protection.

No offence intended!

This post has been edited by newbie99: Apr 17 2010, 05:22 PM

Ok Just For the Sake of this Arguement.

What is wrong with using retirement fund for healthcare? Your retirement fund is to keep your alive and healthy until u pass on. Isnt healthcare one of the basic needs when you retire? Retirement funds are for you to enjoy and live till u pass on. You may factor in healthcare provided that those are minor, and if a person has RM1m for retirement, and chronic illness comes or a serious accident comes, say fees need around 500k, then this will eat up a big chunk from the retirement fund. This is called risk management.

If you have to drench your life saving to the doctors when you retire, you are either severely sick person or you dont have much to retire to start with. Can you control this? Can you guarantee a non-smoker will not get lung cancer? Unless u r the god!

By the way, if you save RM400 a month, when you retire, which I assume your working life is 35 years and you earn 8% a year average, you would have one million when you retire. What u say is exactly true. What u do is wealth accumulation. What i'm saying is instead of using the 400 (of ur hard earned bucks) to accummulate for 35 yrs to get 1m, i'm asking to spare 150 from the 400 to create a medical fund from insurance. Dare to say illness will only strike at retirement? Again unless u r god!

I agree accident is out of our control. Chronic illness can be predicted and usually runs in the family. That's why the insurance policy always check the medical background of your parents and siblings. Absolutely agree!

Haha! ROI? Return on investment? Where is the return? Buying medical insurance is an investment? This is the 1st time I heard buying medical insurance is an investment and you hope for a return on your investment. More likely as a protection. Friend u have get me wrong entirely. The ROI i'm referring to is not the money returns as in investment. What i'm saying is using a small amount of money to create a big life saving fund, this is the ROI. Without a good life, whatever ROI from other investment is of NO use. So i'm strssing out that just use some of your percentage of other investment and put it into insurance to generate a fund to protect ur assets and investment.

Again just for the sake of argument. Not intentionally to offence anyone.

Just my 2 cents. I may not be always right. Cheers.

If LYN enable 'Like' button, i will definitely click it. Thumbs up Ronnie.

btw Newbie99, not everyone can save up to 1m when they reach retirement. ppl nowadays spend more than they can earn. Credit Cards are easy to apply. I guess 3 out 10 would save money for emergency. Sometimes accident might happen to your love one. So its better be safe now than sorry later. We are not always very lucky for investment. There are no such things as "No Risk" investment.

Do not argue with Insurance agents, that is what they sell for a living, when they convince you, they earn money, if they cant persuade you, they earn 0.

My personal opinion differ for this.
Company's medical card are usually much better than the one sold outside. Even pre-existing conditions and minor stuffs that requires you to visit a clinic are covered.
You won't work for the company till you die, but, remember, why the heck do you need to buy it when you're 20+? Why not save the money, buy only when you're around 45-50?

hi, im looking for a insurance for my self and family.
can anyone help me on this?
thank.