V have another thread running on plans comparison http://forum.lowyat.net/topic/1607342/+60&#entry37354645

what you have IMHO, not worth it. if i'm not mistaken u r paying for a day when u r unable to earn an income due to critical illness, total disability den u dun need to pay the premium d, also the benefit...hmmm pocket money everytime u r staying in the hospital?

i suggest u come over to the above thread n discuss this matter.

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Added on October 28, 2010, 8:11 amthat is outpatient benefits...must check.

wat i'm seeing here is a trend to take from 'trusted' sources. aka TM (peeps..tm is telco...y u wanna get insurance from a company that only call ppl???) it's worrying.

n really do read ur policy or pass the policy to ur trusted agent or lawyer fren cos there are limitations.

Very high lifetime limit means VERY LOW annual limit, no lifetime limit...no such thing. I pity the agent that twist the facts just to get u to buy a policy.

about medical card, pls pls pls pls..hammer ur agents or get a new agent cos all medical cards are now by default up to 99 years old.


Be informed of ur own rights, this is ur consumer rights and do take this seriously k. i was at the hospital to check in my client, a 4 month old baby with flu n cough, the room mate is a 16 months old boy. d boy doesn't have insurance and stayed there 2 nights, each night hafta deposit 2K (2 nights 4k deposited), total bill at the end of it was 1.5k. is it better to be paying only a small sum each month or year then to be paying out at LARGE sum each time u r admitted?

Those medical cards that allows u to claim from clinics? ooo be even more wary of those, the limit is damn low (ask urself) for clinic and even hospitalization. only thing is always ask urself y do u need the card and is the card able to resolve ur headaches in those times of need.

ask ur agent that, if ur agent is a sincere one u would get a redesigned policy else......(need i say much)

Dream Maker
Manulife
For your future

This post has been edited by coolpajames: Oct 28 2010, 08:11 AM

Only you know if the plan ok or not for you. You need to ask yourself, what actually you are looking for? What is your main priority? What protection that you need nowadays.

What I can see, your plan is average and had cover every basic needs, which is death (60k if CI has not been claimed), CI (30k), medical (500k lifetime), PA (50k), disability income (if you are TPD, you will get 6k pa), temporary disable due to accident (RM150 per week if partly disable, RM300 per week if totally disable).

But I'm not sure if PHL100 is enough or not for you bcos the medical cost is increasing year by year. Anyway, you can always upgrade the medical plan or modify other benefit as and when needed. You can always increase or decrease your premium as long as it can cover your insurance charges.

______

I'm not so sure your background. If you are earn well-income money and your company still pay you if you get MC, then probably 3 unit of pruacci income is too much for you. If you are self-employ, then pruacci income is important because when you not able to work meaning no income for you.

This also apply to PRUdisability provider. You already get a lump sum if you are TPD, ie. 30k. Another 6k p.a. is another income for you.

I didn't see a PRUpayor benefit in the list. I assume you had because usually Prudential agent will always put this benefit in their proposal. This mean, if you are TPD or CI, you do not need to pay your monthly premium but you can still enjoy other benefit for free.

Depending on people needs, usually people need medical card as their top priority.

Again, you know yourself better. And it is always good to share it with other to get 2nd opinion.

This post has been edited by ajau: Oct 28 2010, 08:48 AM

coolpajames,

TM is not Telekom Malaysia. it stands for Tokia Marine Insurance. and your conclusions on life time limits are plain wrong. most policies have an annual limit and a life time limit. the catch: you insure yourself early, you're more likely to eat your lifetime limit up. its no contradiction to have high life time and high annual limit per se. normally the life time limit is high will mean that the annual limit is higher than for lower lifetime limits too. of course there is no such thing as no lifetime limit (for malaysian policies) but you can go away with it to some degree (i.e. waiver of additional lifetime limit on top of the annual cap).

your statement: "all medical cards are now by default up to 99 years old" is news to me. please elaborate. it's my observation that most policies will end around 80yrs or become prohibitively expensive when covering until 99. last time i checked a policy from manulife the premium went so high so "normal" person would be able to afford the premium at high age.

thank PJusa,
TM has always been to me s telekom

i dun remember the limits being elaborated in that way. wat i do know is different from urs. annual limit...how much u can use in that year...once u hit the limit the medical card expires.
lifetime limit is how much u can use when u r alive.

eg (just to discuss, n no actual policy is implied)... annual limit 10k lifetime limit 50k...the policy holder ends up in hospital for 7 time in a span of 10 years and each time uses 8k (total is 56k far exceeds the limit). by d 7th visit the medical card expires s it has reached the lifetime limit.

ad for the additional limits, it's usually an upgrade of ur existing policy/medical card of choice.


s 4 my statement. yes it's 99 yeas old now n started for some time already. so please check with ur agent or the customer service reps.

i dun really get ur last point there about the premium going up very high. is it a investment link or a term plan? from experience that usually is term plan. s u age the cost of insurance increases accordingly cos with age comes the higher possibility for one to get ill or succumb to illness.

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Added on October 28, 2010, 4:52 pmPJusa,

FYI u can get a stand alone med card. v will recommend a comprehensive policy s it's more worth for money. with the medical card if u dun use it then that's it u just pay yearly, with a comprehensive policy u get outpatient benefit, death n disability n critical illness benefit, might b able to put PA, hospitalization benefit (i call this pocket money when u sleep on the hospital bed, IMHO not worth it) there are loads of things to consider.

yet if a simple stand alone medical card is able to meet ur needs, den just chek on wat each can give u n get the right agent that u feel comfortable with


This post has been edited by coolpajames: Oct 28 2010, 04:52 PM

Let say i take TH400 plan and now i'm 23 yr old.

So i will still pay RM1813 when I at age 50 ?

http://flare.me/images/7s0o7alv.jpg

Nope,

Its RM4812 (because of next birthday, you have to pay for age 51). Its a age-band, not level premium

thanks

I find it hard to get such quotation at the website of insurance company.

Yup. You still pay RM1813 p.a. at age 50 even at age 70 - provided that there is enough fund in your account to pay for Takaful Health Tabaru'.

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Added on October 28, 2010, 5:36 pmraph. You are wrong. The contribution is based on entry age. Not at your current age.
There is different between contribution and tabaru'. The tabaru' is based on your current age - which is the real charges for having the medical card

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Added on October 28, 2010, 5:42 pmUsually you cannot get quotation from website of insurance company. You need to get from an agent especially with the product that can be customized as per your need. From the discussion with the agent, and from the fact finding about yourself, the agent will propose or you can discuss what kind of protection that you need.

What you can get from the website usually the premium or contribution of certain benefit.

If you want a quotation from Prudential or PruBSN, you can get it from me. Don't worry. No commitment. Let me know your birthday, smoking status, gender and probably your email address so I can email to you. You can pm me your detail. If you can specify what kind of benefit you want and your budget that will be better.

This post has been edited by ajau: Oct 28 2010, 05:42 PM

coolpajames,

sure a lifetime limit means that once its reached, the policy expires. but how does this relate to your previous statement?

i am more inclined to GI medical insurances as i believe that they serve the purpose of pure medical cover better.

what i said is that the charges imposed by the insurances for covering beyong age 80 are astronomical. that holds for both standalone and life-products regardless of wether the costs in mixed through higher initial charges ("fixed"-premiums througout the period of cover) or not.

also there are in actual very few policies that offer coverage until age 99 or 100. most insurances end on or before age 80.

i also disagree on the blanket statement a comprehensive policy is more worth one's while. i'd say quite the opposite is true. if i select individual policies i can get the same cover with easy annual adjustments and with steep discounts even if i only go direct for the unlikely to have claims policies (PA/CI). i also dont waste money accumulating premiums that effectively lock me and i wont depend on investment performance. in my book the more an insurance is an insurance and not an investment product the better can the insurance serve its purpose and insure me. no offense on life - i know its popular. i just feel that seperating the covers and removing the investment link part is more practical approach. also a lot of people fail to realise that:
if the performance is not good enough, you have a problem with ILP
with traditional life the company has to be very conservative with long term income hence you tend to pay too much
with a whole life insurance it's not as easy to switch add/remove covers as needed.

yes you can add riders or remove them and there is a premium holiday but in general you're stuck with the insurance for good. with seperate insurances you enjoy much greater flexibility and you can diversify across as many insurances as you like and even swap them when much better offers come your way (take-over policy can be done). this is esp. usefull for CI cover which hardly tandems with medical cover requirements.

of course this approach has a huge minus:
you need bother about what cover you actually have and what coverage you need and you need to inform yourself to some degree.

but then again that is better than sitting on a measly 50k medical cover for 20 yrs only to realise that that was hardly enough to cover your bills.

to put it in a nutshell: i like the idea of covering the whole life but i dont like the idea of putting it in a single product. not everyone will agree and it's surely not the way to go if you decide not to bother or if you're too lazy to check your policies regularly.

i'm quite slow.

wat is Tabaru ? is it unit trust?

wat u mean?

Is this wat u mean

RM4812 - RM 1813 = RM 2999

RM 2999 will be deducted from my unit trust?

tq so much ajau....

yes. my plan included enchancedprupayor basic.

is credit sheild n credit sheild plus different?

Both pay a lump sum when you are diagnosed with CI.

The difference, credit shield will pay lump sum in lieu your life benefit.
E.g. Life 50k, Credit Shield 30k.
Case 1. If you diagnosed with CI, you will be pay a lump sum of 30k, but when you die, your beneficiary will get remaining 20k
Case 2. You die but never claim CI benefit, you beneficiary get RM50k

Credit Shield Plus will pay lump sum but will not effect your life benefit. However, if you are not diagnosed with CI, when you die, this benefit will be added to your life benefit.
E.g. Life 50k, Credit Shield Plus 30k.
Case 1. If you are diagnosed with CI, you get RM30k, when you die, your beneficiary will get remaining 50k
Case 2. You die but never claim CI benefit, you beneficiary get RM50k + RM30k = RM80k

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Added on October 28, 2010, 10:11 pmNope.

Tabaru' is an amount of money that you donate to a pool of fund. This pool of fund is used when any Takaful participant make claim.

I'm sorry and I do not know why the Tabaru' amount is not shown in broucher but you can find it inside quotation.

The following illustration shows an example of a quotation:
Contribution: RM2100 p.a.
Life: 20k
TH400


The Takaful Health Tabaru' for the 1st year for you only RM427.70 p.a. This amount of money will be deducted from allocated contribution.

You need to remember that only 40% of your contribution in 1st year will be allocated to you. Therefore from RM1813 Takaful Health Contribution, only RM725.20 is allocated. This is shown inside Supplementary Benefits Contribution column.

RM725.20 - RM427.70 = RM297.50 and from other allocated contribution will be used to pay for other charges.

As you go down the Supplementary Benefits Contribution column, you can see the value is RM1813 in Year 7. This is when 100% of your contribution is allocated to you. And you can see at Takaful Health Tabaru' column, its value is increasing as your age increase. At your age 50, the tabaru' for Takaful Health is RM966.96.

It looks like you pay more initially so that you do not need to pay more when you are old. This is good because when you are old, the cost of medical card is high, but you still pay less than that.

This post has been edited by ajau: Oct 28 2010, 10:15 PM

PJusa
u mean the higher annual = lower lifetime n vice versa?

that's wat i noticed in the policy illustrations, it is a balance at the end. can't have best of both worlds.

Thanks for your feedback, it's a personal preference, if u wanna i can show u y i say that...when i dunno how to articulate it in words..even in person. i can show u wat i mean when i do up a policy illustration.

d medical card now does cover up to 99 years old. the policy's premium is a totally different spectrum

higher annual is not in any way connected to lower lifetime. higher annual usually means much higher lifetime (and higher premiums).

please list the policies that cover until 99yrs. there are very few around and if the insurer decides to allocate say 20k (real example) as premium around that age: who can/wants to pay that with a policy that carries a lifetime limit?

and yes you can most certainly have a huge(or high) annual limit and no additional lifetime limit that lowers effective claimable amount. i can name you a few local and international polcies that are available for everyone that do this (lighthouseasia, AXA SCO, allianz worldwide care and a few others). its not hard to get them. its a question of premium you'll have to pay as always.

How to know that during 50 yr old, my tabaru fund is enough to pay for Takaful Health Tabaru?

Every year you will get a statement, letting you know how much unit you had and its cash value. There will be also a statement describing all charges/tabaru' for you. You can roughly know if your fund is enough to pay for tabaru'.

At the same time, your agent can also evaluate your fund status and letting you know if you do not had enough fund. From projection, you should have cash value to pay for tabaru' even until 70 years old.

there's 2 types of medical card in the market

1) its renewal every year, we call it step premium medical. Which mean the premium will increase
like in the table posted earlier

2) contract medical card which is attach to a link plan or traditional for some company. The premium is lock
base on ur entry age till your medical card expire when you are age 70/80

My personal point of view is to get a contract medical card . . . which some of cases i see outside
that once they made a major claim with renewal card, the insurer company might reject/exclude
the coverage on the following year.

Colaboy,

your point is valid but respectable renewable cards (and i would not consider any other) will have a guaranteed renewal (renewal at the option of the insured) with a guaranteed no-loading-based-on-individual-claims / no-future-exclusions. so contract has less advantage.

of course if you know you gonna stick with the insurance contract is nice cause it balances out premiums. but given the way insurance works here (limits, exclusions, better plans pop up,...) you dont know you want to be with them forever. if you're not then you paid for the future but dont use it i.e. loose money dont you? it would be ideal if contract plans would have less limits than other plans (i.e. no lifetime limit, no annual limit or very very high ones (say 2M RM) and best of all no exclusions...)

coolpajames,

still interested in the cover until 99 yrs. i know Pru, AIA, manulife offer plans until 100 - who else? i hope more existing plans will be converted to max. age 100. personally i am waiting for AXA to do so. i am very interested to see how they will price the risk - other seem to place it around 12-17% (i.e. for every RM cover you need to pay said % per annum). does anyone have international data on this? i have ensured i am covered until 80 but for above i'll have to see the government hospital or pay myself - i dont think i'd mind paying 15-20k p.a. to have 500k or more annual cover. but i am afraid noone will want to cover me for that amount huh?

Owh sorry, i thought this one is stand alone medical card.
So this mean, the figure is Cost of insurance, am i rite?

Thanks

Why you say the premium is lock base on ur entry age ?

But ajau say different thing, he say that

RM4812 - RM 1813 = RM 2999

RM 2999 will be deducted from my takaful link funds