true, quite a handful ppl are burn by ILP, mostly due to their initial greed accepting high return figures during sales stage ...

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Added on March 21, 2009, 11:19 pmneed to see her actual policy for correct details but I 'think' Pru has the normal waiver for the payor, they also have waiver for the spouse of the payor and the waiver for the insured, all 3 can be different.

on top of that, they have income rider to provide some income like the one you mention above ...

nowadays insurance has so many features its really pening kepala

This post has been edited by mtsen: Mar 21 2009, 11:19 PM

at the meantime i think is GE with the biggest sum assured & lifetime limit for medical plan . . .
basically no point getting 2 medical card from 2 different company ..... if you really needs to insured more why dont just upgrade ur plan
you cant claim from both cards although you have 2


It's case by case . . what you are saying above are refering to "payor" in a ILP i guess

a waiver for the policy - if 36 Illness strike on the policy owner/life assured/spouse (if included) the policy will go on free for life
hence the client will still enjoy all the benefits but the cash value will not increase

a payor for the policy - if 36 Illness strike on the policy owner/life assured/spouse (if included) the policy will go on free for life
hence the client will still enjoy all the benefits & additional premium located to purchase of units monthly which paid by PRU

i still have a strong believe in ILP product which are good to the market . . . different ppl different opinion




This post has been edited by Colaboy: Mar 22 2009, 04:23 PM

Ya, we can't claim from both medical cards. But, if one medical card is not enough to cover our medical bills, we can use the other one to cover the balance.

I agree with bbjslee and think that buying two medical cards from two different insurance companies is better than upgrading our existing medical card to a larger plan. It is because different insurance companies have their own panel hospitals. If we can't claim from insurance company A, we may try to claim from insurance company B...

This post has been edited by lcl832002: Mar 22 2009, 06:32 PM

Prudential ILP is ok in general (did not over sell profit), agents are quite well trained too, other local companies are not as good ...

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Added on March 25, 2009, 1:57 ami oso agree getting from different insurers are better...

This post has been edited by mtsen: Mar 25 2009, 01:57 AM

Loke,
sorry, but please bear in mind that you are not allowed to claim the balance from another medical card. One claim can only be claim on one particular medical card.

bbjslee,
what was mentioned about the payor/waiver is actually a so-called cross-waiver thing. For you, in GE, it's called Payer Benefit Plus.

It should be done like this:
- Father (Payer), Mother (LA)
- Mother (Payer), Father (LA)
- Father (Payer), Son (LA)
** All proposals are done with Waiver Premium Plus as well.
I hope you get the idea of this. There are pros and cons of doing this.


For the medical card, there are no guaranteed premiums. Guaranteed Premiums is a term that usually agent will use to increase the attractive-ness of their sales, but bear in mind, the agent is making a big mistake by misleading, I'm not gonna discuss about the consequences, but I would like to clear of some misleading part here.

For Investment-Linked plan, policy fees and insurance charges are deducted from the investment funds, please do look back at your investment link statement from time to time on this. Which means, insurance charges do includes the Medical Card rider that have been attached in the plan. And so, medical card charges increases over years, but at the same time, your investment units that sold from time to time have been accumulated. Therefore, you won't see much risk having your premium to be increase BUT there are still chances that your premium would be increase.

These risk are that when unit funds value drops tremendously, and while your insurance charges is higher than your investment return, then you'll have to bear the differences.

FYI, ILP is not an actual savings plan. Agents always like to use the term 'savings', which sounds good, but in fact, it doesn't really apply. In year 2008, market drops, most companies projected their investment return is at 9% or 10% or some even higher. What comes true in 2008 are that majority funds are in negative value. So, please tell me, what's the savings here?

You can claim the balance from another medical card.

I know about this, but the poster said "additional saving", now how does that happen when all the insurance plan did was just waived future premiums.

Yes you are right here. Well, unit trust agent also say put rm100/month into their so and so fund and treat it as "saving". "Saving" has been a much abused word.

ooopsss.. sorry... yea.. you are right..

Are you an agent???

This post has been edited by lcl832002: Mar 26 2009, 01:15 PM

that would be up to you to decide....
I'm just a passer-by last night where I couldn't get into sleep late night.
Just some knowledge sharing of what's going on the market currently.

You can treat me as Agent, Advisor, Life Planner, Underwritter, Unit Manager, Group Manager, as you like.
I'm just here to share.

I don't think that you are sharing because of the way you respond. You are challenging people here, not sharing...

I do not wanted to disclose my identity to you because I don't want you to use a different when you do sharing and I read thru posts that you have made, almost all post, you keep telling people how your company performs. People are not blind or deaf, they know how thing goes on the market. I do not wanted to condemn anyone but please do understand that, we are here to share of what knowledge we have got, not showing off to others that how your company can do and what others cannot offer. The way you talk in forum, it's the kind of forummer that I won't really give respect to.

I am a very fair person, I will respect you if you respect others as well. If you can change your attitude abit in this forum, I can tell you, people will change their view on you as well.

Hahahahaha... Thank you ...

can I treat you as my payor then ?

ha ha, now you are challenging him ... and sorry I have been challenging randomly as well ....


Just to re-emphasize on 'cannot claim from 2 different medical plans' to the newbies, if u buy 50k medical from company A and another 100k from company B

if your total bill is 40k, you can claim from A OR B only, not both
if your total bill is 90k, you should claim from B
if your total bill is 110k, you claim 100k from B first, then 10K from A

when claiming 100k from B, you have to state there the rest of the 10K will be bear by A and that usually will be taken care off.

the same applies if you buy 2 different plan X and Y from the same company C.
hope this helps ...

This post has been edited by mtsen: Mar 27 2009, 11:55 PM

Thanks for your explanation...

There is a previous thread discussing similar issue which has been closed and beign diverted into this thread. The link is http://forum.lowyat.net/topic/725230/+60 for ease for reference.

Thank you for the cooperation.

In the market,
how many selling insurance card?
any agent here? pls pm me....thanks...

CIMB will soon lunch a new Insurance package that catter mdeical and critical ilnesses...
sound like a good product

cost effectiveness wise, I would compare with

http://safepay.com.my/ins101.asp

Annual Premium Payable MYR 1,228
Life and TPD
Personal Accident
Critical Illness MYR 100,000 Sum Assured
Medical Plan MYR 25,000 Annual Limit


This post has been edited by mtsen: Apr 8 2009, 12:45 AM

the website looks funny. I cant see most of the pictures, or something;s wrong with my connection?

why the website so .....