good thing you did there xuzen. all the best to you.

very good indeed

xuzen, congratulations to you because you know the reality and take action without hesitation...

<< MY LIFE AS AN INSURANCE AGENT >>

medical card or insurance is good to buy...

i were admit into Pantai Hospital,cheras las month due to some illness....it comes so sudden and i were sent i by my fren.

i bring no cash but just my medical card...its under AIA, a platinum medical card...

gv it to the counter and i were sent in to emergency ward with no questions ask....

i did all the scanning,x-ray.etc and stay 1 nite at hospital.

overall im hapy it AIA card

It is great to hear that, huakenny...

i believe im more kiasu than u are!

i have 2 PRU medical cards with lifetime limits totaling to almost rm1 mill
(Pru and Prubsn Takaful)

my wifey and son too... hehehe

Why do you get 2 medical card from the same company amounting to 1Mil i/o 1 medical from the same company amounting to 1 Mil?

If not mistaken now Prudential's medical card highest limit is up to 1.5 Mil.

If you take 2 different company's medical card, it is more logical. In case Insurance Company A cannot claim, then claim Insurance Company B.

Anyway, what's your room&board daily limit?

got pro and cons also, if get from same company, claim once only, else must claim twice and only one original receipt, leceh ...

both card room & board of rm200 per day.

one with limits of rm750k and another rm225k.


the reason why is easy. - i love the idea of fixed premium till age 70 and all my payments go to savings.

Are you sure your medical card has fixed premium untill you reach 70 years old? Is it a rider or a standalone?

positive. it is a rider of the prulink account.

This post has been edited by eimira: Mar 18 2009, 10:40 PM

From I know, the premium of any medical card is not fixed either it is bought as a standalone plan or a rider.

When you attach a medical card to an Investment Linked Plan (ILP), the premium of the medical card is not fixed. Then, why you don't have to pay more when its premium increases in the future? It is because if your ILP performs well, you will get a higher cash value. So, the increase in the premium of the your medical card will be paid by your cash value. When your ILP doesn't perform well, you have to pay yourself by adding premium in the future.

This is what I know about ILP from the complaints from insurance consumers... But I never say that ILP is a bad product... It is just that you have to take some risk. Nothing is guaranteed in ILP.

This post has been edited by lcl832002: Mar 19 2009, 12:04 AM

i agree...
the guaranteed part is only "if critical illness or death should occurs to me, all the future premiums are waived. Pru will pay the future premiums not only for me, but wifey and son too." - im paying rm2500/mth for the whole family.

PRU pays future premiums till age 100/death for me n wifey and age 25 for my son!
FREE Premiums for my family - thus my savings will increase even tho i PAY nothing.

p/s- a friend of mine was diagnosed of leukemia (blood cancer) last year. He paid premiums of rm3k/mth for the whole family. All the hospitals bills are paid for (except co-insurance of max RM1000) and the BEST part, PRU is now paying RM3k/mth for his whole family. He paid nothing!!! Thank GOD, he is still alive and recovering....


WHY worry about uncertainties (ILP price fluctuations)? THE thing you should worry about is the thing that is MOST CERTAIN ---> DEATH / ILLNESSES.

just my two cents.

This post has been edited by eimira: Mar 19 2009, 01:15 AM

What you have is actually a waiver. It is very common nowadays for most Insurance Products.
Did you add in the waiver for your wife & son as well?

- If your wife/son diagnosed with DD or TPD, is their future insurance premium waived?

If you have added in as well, congratulations!!

well, don't forget the poitical side of this story is that Prudential top ILP in this region so other insurance companies who didn't catch up on ILP trend will usually say things like above. Its just a matter of which angle you look into the same issue and what action you need to take about it.

in addition, to my knowledge its the subsequent follower in ILP who are kind of 'spoil' the market by quoting rediculously high return in their proposal and these are usually bank based insurance division and not the fully life operated insurance divisions.

lapse ILP policies also have to do with buyer where buyers got greedy and pick the one 'most appealing return' without focusing on the coverage when talk about insurance. Almost like the scam cases we hear day to day about scratch lottery ...

---

Added on March 19, 2009, 9:23 amI agree to buy H&S and medical plan separate from the normal life plan because its nature is different than other insurances.

basically keep one account to pay others ( parents, wife, kids )

and keep another account to pay yourself ( medical, PA etc )

that way, either way paying too much to yourself or others in any incident wouldn't hurt the other party ...

This post has been edited by mtsen: Mar 19 2009, 09:23 AM

I just wonder. Is it possible to have a medical card with fixed premium? I have no doubt that the protection for ILP is good. I just tell you why your medical card attaching to your ILP is fixed. That's all.


Hello, when I say something like that, it is just a advice. I hear too much complaints from my clients and friends about ILP. I gain nothing from telling eimira the weaknesses of ILP. He will not buy anything from me, right... I will never criticise other insurance companies. All insurance agents are from the same line. So, it is pointless that we say something bad about other insurance companies. I will only tell my prospects the facts and figures. Then, let them to judge themselves.

from what i understand, it is not waiver. It is payor.

There is slight different between waiver and payor right? correct me if i'm wrong.

waiver means the premiums are waived. policy is still inforce and savings doesnt increase.

payor means premiums are waived. policy is still inforce and ins company now pays the premium into my account. Savings does increase.


Yes of course, i added the payor to my policy, wifey and son.

Hmm... you got it right about payor & waiver.
Normally with payor also only means future premiums waived, doesn't mean savings increase. Is this the PruTakaful or the normal ILP? Wonder how it works, must get my hands on one of the policy to have a look.

payor means future premiums waived for individual and PRU will pay monthly whatever premiums waived to the individual account thus will lead to increased savings.



This post has been edited by eimira: Mar 21 2009, 11:12 AM

When future premiums waived means PRU already paying for your premiums.
Example:
Father pay for Son's policy, premium 100/month.
Father had heart attack.
Pru will pay the premium 100/month, father do not have to pay any more. Hence considered waived.

What you're telling me if I'm not mistaken is that,
Pru will pay the premium 100/month AND another 100/month towards saving.

Do correct me if I'm wrong.
Or any other Pru agent here can clarify?