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

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

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.

MNet,

I never said RM4812 - RM1813 - RM2999 and this RM2999 will be deducted from your takaful link funds. Looks back from the earlier post.

What Colaboy means, let's say you sign up at age 23, your premium for Takaful Health RM1813 remains the same until you are 70 years old.

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Added on October 29, 2010, 8:49 pmNot really. The figure show how much you need to pay annually to PruBSN Takaful to enjoy Takaful Health benefit. The amount is based on entry age and it remains until your age is 70 years old.

This post has been edited by ajau: Oct 29 2010, 08:49 PM

You will be advised if your fund is not enough.

Same applies to other medical plan.

Takaful operator or insurance company will give you 90 days written notice if there is any increase of premium/charges/tabaru'

For Takafulink, there are 3 accounts:
1. Participant's Unit Account (PUA)
2. Individual Special Account (ISA)
3. Investment Unit Account (IUA)

RM 1813 will go to ISA
You need to buy basic plan which is Takafulink. The contribution will go to PUA
If you have Takaful Saver, it goes to IUA.

Takaful Health has No Claim Bonus. This bonus will go to IUA

I already put the tabaru' for Takaful Health TH400 in my earlier post. I put it again here:


And this is insurance charges for PHL400


To get more detail, you better go visit a Pru agent. You can get more clear picture and better explanation on your query. For you

For your info, PRUlink One is a new ILP product from Prudential. Has been in the market since 16/08/2010

There are lots of PRUlink version and Medical Card (was known as PMM), going back to Nov 98.

Starting PMM3 (01/10/2003), there is an introduction of co-insurance
Starting PMM4 (09/04/2007), can opt for new rider to extend coverage until 80 years old
Starting PMM5 (15/10/2008), Prudential medical card starting having a minimum of RM500k lifetime limit. Previously the maximum lifetime limit was RM450k
PRUhealth was introduced on 08/06/2009 with an introduction of No Claim Bonus. Can opt to cover until 100 years old. Can opt for Annual Limit Waiver (No annual limit)

Hope this clarify some of your concern.

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Added on November 1, 2010, 12:50 amPRUlady still available.

You can have most of PRUlady benefit to be attached to PRUlink One (via PRUessential lady rider)

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Added on November 1, 2010, 1:01 amThe idea is there.

But the actual medical card cost is not RM4582 (based on current charges). The cost is RM2000 when you are 53 years old (refer my posted table for PHL400). So the balance RM274 (RM 2000 - RM1726) will be deduct from your units (aka unit trust as MNet refer).

If you do not have enough units, you can top up your premium just like that without increasing any other benefit when you are 53 years old. So your annual premium got additional RM 274.

You may not have enough units if (but not limited to):
1. You are selling your units
2. Your unit's price at that time is very low compare earlier to purchase price

There are few to overcome unit price lower compare to purchase price.
1. Switch fund to bond fund. Bond fund usually will not be negative.
2. Sell the units while it high and you keep it in saving that will not reduce its value.

This post has been edited by ajau: Nov 1 2010, 01:01 AM

SS show the premium based on entry age. It does not show the insurance charges.

Sorry. My bad. When I did screen shot, I missed the end of table. I put it here, but there is no table header. You need to read together with earlier screen shot

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Added on November 1, 2010, 12:06 pmYup. you are correct about having minimum units.

For your wife case, have you try to upgrade her medical card? The offer only to selected client but for others you can request for upgrade. Even myself, I do not get the offer but I do upgrade by myself and I have no problem.

Only when you had requested to upgrade your wife medical card, and get rejected and Prudential said it is rejected due to the claim less than RM200 few years ago, then your claim "it is tough to upgrade if you have made a claim" is valid.

Broken toe should not a major issue. But if you had made claim due to CI or undergo some serious surgery, you may face problem to upgrade.

Recently Prudential had made offer for its client to upgrade to PRUhealth with simplify form. You should ask your agent about this. The offer until end of this year.

This post has been edited by ajau: Nov 1 2010, 12:10 PM

Sure. But not much coverage. If include medical card, you can only get R&B 100 only.

I did for few client:

Case 1: Takafulink (ILP) - Monthly RM 100
Death: RM 20k
CI: RM 10k
Accidental & Disablement: RM20k
Medical Card: TH100 (R&B 100, RM 50k annual, RM 500k lifetime, RM100 no claim bonus)
Hospital Allowance: RM200 per day
ICU Allowance: RM 250 per day
Surgical Allowance: up to RM2,500
Payor Benefit
Parents Benefit

Case 2: Takafulink Cerdik (ILP) - Monthly RM 80
Death: RM 20k
CI: RM 10k
Accidental & Disablement: RM20k
Medical Card: TH100 (R&B 100, RM 50k annual, RM 500k lifetime, RM100 no claim bonus)
Hospital Allowance: RM100 per day
Payor Benefit
Parents Benefit

Case 3: PRUmychild (ILP) - Monthly RM 70
Death: RM 20k
CI: RM 10k
Child Specified Illness: RM10k
Medical Card: PHL100 (R&B 100, RM 50k annual, RM 500k lifetime, RM100 no claim bonus)
Payor Benefit
Double Parents Benefit

More on basic protection.

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Added on November 4, 2010, 5:37 pmLife & CI (100k) from PruBSN CrisisCover, age 4 y.o RM45 per month until age 60

This post has been edited by ajau: Nov 4 2010, 05:37 PM

Not sure where you get this point. In ILP, removing rider means you are removing its insurance charges as well as its premium. If you have payor rider, you are reducing some part of it premium as well.

The premium for medical card attached to ILP is based on entry age. Usually the premium is higher than the actual insurance charges for that particular year. So, there is a possibility that there is a surplus in your account at early stage. If you cancel your medical rider, the surplus is still there. You can withdraw this surplus subject to term & condition (there is no charges to withdraw your cash but you need to maintain a minimum cash in your account).

I had made a comparison between few GI medical card & medical card attached as a rider. The insurance charges for medical card attached as a rider is cheaper.

There is pro and cons between these 2 type of cards and it depend to individual which one they prefer. I would suggest you check more on:
1. Guaranteed renewal
2. Premium/Charges will not increase based on number of claim made per individual cases.
This is more important to check rather than arguing stand alone or as rider.

Optionally, you should also check on:
1. Annual limit
2. Lifetime limit
3. Schedule of benefit (some has limit per benefit, some put as charge subject to annual/lifetime limit)
4. Co-insurance / Co-payment / deductible

My opinion, if you are young, ILP may be good for you especially if you do not have any insurance cover yet. If you already purchase some policy but you are lack in some aspect, you may want to go for stand alone type of insurance policy.

PJusa,

My statement (regarding premium/charges of medical card) is in general by comparing few. I'm not really want to compare the price but since you brought up medical card attached to ILP is costly compare to stand alone, so I'm highlighting this may not true for all cases bases on my rough comparison.

And I'd read in one article about comparing between medical plan stand alone / rider and this is about the same statement issued by the CEO (if I'm not mistaken) from the insurance company.

It is very hard to compare between each medical card because I could not find any identical medical plan from different company.

For example, I take ING (sorry ING agent, I didn't mean anything bad) vs Prudential.
I hope this website could be the correct one. And compare cashless option (IMPlus 3 - male) and with my previous posting abt PHL400 insurance charges (I was putting the charges for male)

At age 22-29, the premium for IMPlus 3 is RM923 p.a. PHL 400 insurance charges is between RM790 - RM1150.

But you need to bare in mind, for IMPlus, you only pay RM50 per admission while PHL you need to pay 10% co-insurance (min RM300, max RM1000).

There is also different in other schedule of benefit:
R&B for IMPlus is RM260 while PHL 400 is RM400
ICU for IMPlus is RM300 while PHL is as charges
and few others benefit.
And you can compare between its lifetime limit too.

I'm not saying Prudential is better. You need to look at other pros and cons and you decide which is more suitable to you.

If you had the premium list for AXA, you can compare with PHL400 insurance charges and let us know which one is cheaper.

ING also have medical plan that can be attached to ILP. and I believe the insurance charges for ILP medical plan should be less than premium of its stand alone medical plan. And this could be the correct way to compare (if the schedule benefit is similar between standalone and rider)

Regarding your friend paying 3000++ p.a. and get low benefit. It is more on discussion between your friend and his agent. Sometimes in the discussion, they talk more on saving/investment not abt protection. And I must admit that some agent had given wrong advise or we can say 'syok sendiri'.

I met my friend who is paying abt RM4000 p.a. for PRUlink (quote by other agent) and only getting RM62,500 p.a. annual limit of his medical plan, while he should be getting RM100k. From further investigation, I find out, my fren told his agent that he do not want to pay for premium after retire. So, I assume the plan is designed such that he has lots of cash value to pay for insurance charges after he retire.

So for your friend, he can re-valuate his policy and modify the plan without increasing the premium if he wish too. Remove any rider that he do not want so he is not wasting his money.

This post has been edited by ajau: Nov 6 2010, 01:30 PM

Thanks PJusa for your effort to check which one is the cheapest but I'm not really interested to go to detail and argue more. I'm more interested how to help to protect people. As I said earlier, I just want to correct your statement that the fix premium is costly because I believe it is not happen to all cases. Even if you can get your policy is the cheapest in the world. Congratulation. But there is also some other factor to consider. The policy detail, the exclusion, the insurance company record, the claim process, the services, etc. The argument will never end and it is subjective.

The bottom line, are you happy with the coverage, the service? Can you afford to pay?