QUOTE(PJusa @ Jan 2 2010, 01:21 AM)
epalbee3,
if you can afford it, go beyond 200k. personally i'd feel pretty save with a number closer to 1M.
about your kurnia comment, you are mistaken with 2):
1) is true, i believe until 65 though according to my records
2) 20% coinsurance applies arcross all their policies if R&B exceeds the limit. most insurances have this clause if not all. only axa does not imply this quota unless your rooom category is exceeded (very usefully if oversees!)
3) most good H&S plans have this
4) agreed but the annual limit is relatively low and the lifetime limit is only 3x annual limit. early commitment will not provide safety. 10x annual limit should be the absolute minimum. if you can, get a policy with just an annual limit instead.
5) from a quick scan i believe kurnia's premium is somewhat in the middle or upper middle of the premium per 1k cover for a cover from age 23-65. but then again the lowest premium should not be the deciding factor. i have no idea how claims are processed and all though. ask around to get a better idea on the service if required.
Yupe, agree a lot with all of you.
20% will not be imposed if R&B is below the limit, e.g. RM150.
Yes, PJusa, I agree with you that 500k - 1 million is a reasonable number now.
Currently my monthly PA plus medical is around RM40 with 125k PA and 210k medical coverage.
If I can, I want to upgrade it to 500k PA and 420k medical converage next year.
But again, it will cost me about RM1500 per year, or RM125 per month, a dramatical changes. This only for age range 30-35.
Again, you must know that PA rate is fixed while medical rate is increasing exponentially. When you need it more, you can't afford it, it is somehow a truth.
At the end I might increase my PA coverage to 200k while maintaining medical insurance coverage.
All of us can come out with the figure of 500k - 1 million, but not all of us afford to buy it, those who afford may want to spend it elsewhere for better life (buying house, saving, daily expenses, etc).
Added on January 2, 2010, 12:38 pmQUOTE(mfitri77 @ Jan 2 2010, 09:43 AM)
What happens when you are 56 years old then, when you retire? To get a GI medical plan almost equivalent to the basic medical plan of a life insurance policy, you pay from a provider RM3005 a year. Age 61, premium goes up to RM3700 per year. Assuming you have no loading imposed on you.
Compare that with getting life at a young age, like 20-30 years old. A complete plan would cost you RM150 a month, or RM1800 per year. You get all the coverage (PA, Critical illness, Disability, Payor riders etc). Medical card, some investent for the policy to be self-sustaining. Policy holiday, policy loan. Many say, Rm1800, is too much, but in the early years, you can work. When you retire?
When you are young, GI is very attractive. GET IT IF YOU CAN'T AFFORD LIFE. Its cheap, end of story, compared to life. BUT REMEMBER, when you are old however, GI can be a nightmare. In a country known for people blowing their EPF withing three years after retirement, can you actually afford to pay the GI premium you'll need then?
You are right on the statement that pay now and easy later.
Investment link with medical coverage is also help saving money first then pay for it later.
As I know, there is no life insurance guarantee the medical fee; and you may be requested to downgrade your medical coverage if investment is not satisfactory. After all, it is still a bet for investment.
I would say for those who don't mind expensive life insurance, they should buy it.
For average people like us, we would need a cost-efficient coverage and the rest of the money we will invest ourselves.
But you must be very disciplined using GI, which increase every five years. life will be for those who needs fixed rates.
But indeed, GI is most cost effective, sort of DIY.
Added on January 2, 2010, 12:41 pmQUOTE(weikian @ Jan 2 2010, 11:03 AM)
How about Critical Illness part? and life part(life and TPD)? Ignore them? Remember that PA only pay out when something happen due to Accident.
If you need all these. you will need a full life insurance, but you pay more.
BUt if you ask people around, those who get life insurance usually get lower coverage like 100k medic, 50k life, 30k PA only, as there are a lot of fees/coverages. but they have to pay like RM200 a month. May be those with life insurance can advise on this.
This post has been edited by epalbee3: Jan 2 2010, 12:41 PM 
Jan 2 2010, 12:39 AM
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