Hi All,

Just doing a simple survey on insurance. Hope you dont mind sharing.

1. Are you insured?
2. How many insurance policy do you currently have?
3. What kind of insurance policy are those?
4. Which insurance company is preferred?
5. How much you pay for your premium monthly / yearly?

Not a very popular question for No. 6 so I took it out. Just curious.

This post has been edited by Pennywise: Oct 18 2008, 07:16 PM

won't answer everything, but have car and personal health insurance from jerneh. company gives rhb insurance. and i have a hospitalization 'scheme' frm citibank.

there is also a similar survey at http://klsmihosting.com/pfp

my answers :

1. Are you insured?
YES
2. How many insurance policy do you currently have?
1-3
3. What kind of insurance policy are those?
mostly Terms
4. Which insurance company is preferred?
None
5. How much you pay for your premium monthly / yearly?
yearly 2-5K
6. What is the return of your policy?
0

are u one of those insurance agent ?

i don really get it actually..

why pay insurance now? whn u could pay later.. i mean like as u get older u pay a higher premium i get tat.. but why pay now!? isnt it abit like a waste of opportunity cost? we could use the money and invest it somewhere rather thn pay for insurance.

can someone enlighten me about this? my parents jus transferred one to me which thy paid since i was young.. to me i think its better if i pay later thn now..

U pay now, so you are insured NOW
U pay later, you are only insured LATER

U pay now, because you are insurable
U might not be insurable LATER

What is insurable? HEALTHY, without any major medical history.

The right timing to get an insurance policy is :

1) When about to get admitted into Hospitals.
2) Just before accidents happen
3) Just before getting a sickness
4) Just about to die ( out of question )

So are you able to get it in time ?

The bottom line, you have a choice not to buy also.

There are a lot of uncertainties out there, death is the only certainty.

This post has been edited by SKY 1809: Oct 18 2008, 04:33 PM

1. yes. depends how am i insured. personal accident 1 mil
2. 2
3. PA, 36CI, life (plan to set up my own retirement fund soon)
4. doesn't matter. as long agent serve me well.
5. monthly and yearly
6. i dun expect any return even as promised

wow.. true..... thanks guys.. its much clearer to me now

I am not an insurance agent. I am just asking for curious sake because I recently got approached by an insurance agent and I just want to know how everyone is doing, what kind of policy prefered and how much you spend on it per month / year.

Well, today's approach is based on NEEDS BASED, rather than hard sell.

If your NEED is much higher than what you HAVE, then there is a shortfall in your insurance coverage.

On other hand, if your NEED is smaller that what you HAVE, then you have enough of insurance cover.

Sometimes, it could be based what you WANT ( or desire ). Let say, what lifestyle do you intend to have after retirement ?

Lifestyle, living in Kampung could be diff from that of KL. Diff costs involved. Cannot compare with one another.

Sometimes, it would be on a dream, like what estates do you intend to pass down to the children, education, house etc.

Bottom line, you need to feel comfortable with the budget cos it is long term commitment.

This post has been edited by SKY 1809: Oct 18 2008, 08:16 PM

spend less than 10% of ur income would be sufficient.

kind of policy preferred would depends on whether of you having dependents or not. the sum assured determination should be realistically to your income as in how much can you survive in event that you cannot work for a year or two (inclusive of car loan and housing loan). this is called risk management

only 1 policy, i dont need more cuz im a student

My question is why should i get my own health insurance policy when my company is already providing one for me?? Is there any reason???

Depend on what kind of insurance that your company provide to you, but normally I think is Group Personal Accident. If yes, then maybe you should at least get a Medical Card by yourself.

Err...it's a health card and it's from AIA which covers my dependants as well... an agent is asking me to get a personal health insurance...that's why i'm pondering why do i need another premium?

Is there any difference between group and individual in terms of coverage??

This post has been edited by pisangman: Nov 24 2008, 08:34 PM

1. yes.
2. 4.
3. Investment linked, traditional life insurance.
4. Great eastern.
5. 5K+/yr.

Simple question - how long are you going to work for your company? Until you grow old and die?
The difference is obvious!! You cant be dependent on your company after you retire.
Think of the future, not now.

1) Yes.
2) Five.
3) Whole life, personal accident, medical card, critical illness.
4) AIA Berhad as its policy contract is more transparent.
5) Around RM 3,800 annually.

This post has been edited by lcl832002: Mar 6 2009, 03:11 AM

1. Of course
2. 5
3. 1 ILP+medical 2term, 1Endowment, 1PA
4. Prudential . . . we are number 1.
5. 5K ++

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.

u got pm

Hihi..

1. Yup
2. 7
3. CI, Life, Medical & saving
4. ING
5. 20k

Your company must be very good then. Just saying, if you KO while sleeping in the middle of the night will your company give money to your family so that can lighten their burden ? What if you kena stroke and paralyze, company still pay your monthly salary or they will terminate you ? Maybe you don't need health insurance but for sure you must have Life Insurance.

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Added on October 30, 2012, 4:36 pm1. YES
2. 1 at the moment
3. Life + Medical Card + Investment
4. Great Eastern Takaful
5. RM1800

This post has been edited by muhdsyfq: Oct 30 2012, 04:36 PM

^ investment for that Rm1800? Mana ada bro... you kena brain washed kah?

health insurance=life insurance

Thanks for the info but I do know that, just quoted that guy said if he was meant health insurance is medical

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Added on October 30, 2012, 11:21 pmSorry, my mistake. Investment that I was meant is the cash value. Hehe.

This post has been edited by muhdsyfq: Oct 30 2012, 11:21 PM

Use 10% of your income as basis for insurance for different needs such as protection, medical, family, house, retirement and others.

Hi,

MLTA is just to cover your housing loan if anything happen to you. Then how bout your wife and children? U just leave a house to them? How bout their education fees and life expenses? So, my advise is, other than MLTA, yo also need to take life/ CI coverage as income protection.

ING do provide standalone medical card which not include investment portion or life insurance.

Interested? If yes, pls pm me your details then will quote you asap. Thanks~~

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Added on October 31, 2012, 9:36 pmHi, AIA not changing, i think~~

This post has been edited by simonlai61: Oct 31 2012, 09:36 PM

1. Are you insured? YES
2. How many insurance policy do you currently have? THREE
3. What kind of insurance policy are those? Medical, Life, Savings & Investments
4. Which insurance company is preferred? I buy from Prudential cuz my mum is Prudential MDRT
5. How much you pay for your premium monthly / yearly? RM800 only, will add if my salary goes up

I believe that ur insurance (savings or life) should reflect on your earnings... Since healthcare cost is getting seriously high

lol....your mum is MDRT....then u also an agent????

Life and health

maybe son soon to be BDRT haha was it possible?

BDRT? What is that????

Probably Billion Dollar Round Table?

This post has been edited by legiwei: Nov 2 2012, 05:49 PM

a billion instead of a million


haha

Hi,

I need some advice from the pro insurance agent here as my GF father have 3 lumps in his shoulder and neck, and he does not have any medical card. I am planning to quickly buy one for him and wait for 2-3 months before going for surgery. is this possible?

he is 55 years old this year.
can help anyone?

Insurance company might suspect because lumps doesn't comes in a day..in doctor report, they will have doctor opinion on how long does the lumps already exist.. if doctor report mentioned date earlier than purchase od medical card, then hard to claim. of cause, it depending on what kind of lumps you mean..

Whether you can claim from insurance company is irrelevant bro. How sure are you that he will have 4 months more if it goes unchecked?

There is a 120 days waiting period for lumps/tumors/cysts. Generally most lumps aren't cancerous but its better to get it check.

Life is more important, if have to spend money, we have to spend money. Lump removal for non-cancerous are below RM 3K at semi-gov private hospital like Lam Wah Yee.

Get it removed, look at the results then talk to insurance agent. That is the right way.

Otherwise you may have the impression that the insurance company is just another scam...

I'm sure you being a paid customer would want to enjoy the benefits being promised as written in the contract, no?

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Added on November 3, 2012, 2:46 pm^ Prudential advertising in LYN

This post has been edited by roystevenung: Nov 3 2012, 02:46 PM

Can anyone help me pls?

We just had a newborn child and started thinking of getting myself insurance as I've just lost a friend due to a freak road accident.

I heard of medical card+savings+investments? Budget is RM 250/mth, I don't smoke, IT line and I'm a papa. birthdate is 11 apr 1987, location KL.

my email is my ID + gmail dot com. Thanks

Pm+ed

1. Are you insured? Yes
2. How many insurance policy do you currently have? 3
3. What kind of insurance policy are those? 1 life, 1 saving, 1 investment
4. Which insurance company is preferred? HLA and ING
5. How much you pay for your premium monthly / yearly? RM2100 per month

Simple Answer: You may change job and retire one day. Will the company still pay for your medical one day when you are not with that company? Or in between switching your job?
Get your own at lower rate while you are healthy. When you need it, you may not get it.

Nope.... Not in Insurance line of work

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Added on November 8, 2012, 4:52 pmLOLZ..... like this also can.

This post has been edited by drewn123: Nov 8 2012, 04:52 PM

Broadly speaking most plan would have protection + savings + investments because the monthly premium that you paid firstly goes into paying insurance charges for the purpose of protection, then the remaining balance is saved and invested.

Very smart thinking.

Sometime, too smart on certain issue doesn't help... e.g. relationship.

i dont know a thing about insurance.. but i own one. and again, i dont know a thing about my own insurance policy.. lol.

Owning how many policy is not important.

Most important is to understand:-

-is the policy Life/TPD protection is enough to help next of kin to maintain the lifestyle for at least 3-5 years?
-any Medical plan is in the policy? Is it still enough for the next 10-20 years of the inflated medical cost? Any limitation of exclusion of the medical plan? Normally at least RM100,000 till RM1.8mill annual limit and at least RM1mil or better no lifetime limit.
-any 36 Critical Illness and Early Stage Critical Illness? Whether enough to help individual for additional medication & medical assistance in the lum sum amount.

once u answer they will start bother u i can confirm this, they will ask u to check this check tat and then ask u to change to their insurance

Yalah, what to do? The average Malaysian is severely under-insured, that's if they are insured at all. Frankly the social welfare has become a burden to our country. No reason for us to prevent insurance companies to pay out as much as they can into our pockets when disaster strikes. Everybody wins.

Maybe not change to their insurance lah. Don't listen to insurance agents who ask you to cancel one policy to buy from them. Because there are so many features and benefits let alone the cash value/dividends that were built up over the years.

Objectively, if it doesn't affect your lifestyle or other investments, it is never wrong to pick up a life insurance policy.
But if the person die also don't want to buy for the sake of not buying, maybe the person doesn't like the agent lah.

Cuz frankly, who would argue with the fact that the sky is blue and that we love our spouse and kids?

yeah.. my insurance does include a medical plan i believe. because i have the med card. but i didnt sure about the early stage critical illness.. btw, it is 1mil lifetime limit with no annual limit.. for me it is fairly enough

This post has been edited by Noregrets: Oct 22 2015, 06:47 AM

Deleted

This post has been edited by Noregrets: Oct 22 2015, 06:54 AM

Wow.... you live the "Hakuna Matata" way.
It is advise to know what you are buying/paying for at least.

Curious, why u buy 2 type of insurance from 2 different company?
Aren't it complicated? Then you have to separate your payment to 2 different company?!
As I know you only allow to do 1 claimed from 1 insurance company for a times..
Just assume that you kena an accident.. you only can claimed 1 insurance shj. Therefore, why buy 2?

Same same here. We all know that it is important to own a insurance. But somehow, insurance is too complicated already. That I direct buy friend one of my good friend. He settle everything for me.

1. YES for sure.
2. 1 insurance
3. Dun know. I guess should be all in one. Which for sure I got Medical card, PA & investment
3. I buy from Prudential
4. RM330 per month

1. Are you insured? Yes
2. How many insurance policy do you currently have? 1
3. What kind of insurance policy are those? Life + Medical Card + Investment
4. Which insurance company is preferred? Great eastern
5. How much you pay for your premium monthly / yearly? RM250 per month

1. Are you insured? Yes
2. How many insurance policy do you currently have? 2
3. What kind of insurance policy are those? ILP
4. Which insurance company is preferred? Zurich
5. How much you pay for your premium monthly / yearly? RM300