Every product in the market is a good product. The most important thing is , does it suit your needs and budget. Do you understand what the product covers and otherwise. There is always a cooling off period of 2weeks or so. Get the agent to go thru thoroughly and get things clarify. One can always ask for a refund if it is found that the product does not suit you, as long as you do it within the cooling off period.

Do not spend too much time in comparing the premium as no two products are similar, and premium is not guaranteed, can go up as and when .

There is a little story I've been meaning to share.

A client of mine bought a takaful ILP for her daughter from me. 2 months after policy in force, her husband called me at 5.00 am (lucky it was Ramadan, so was up having sahur), and asked if his daughter would be eligible to go into hospital with the medical card from Pru. She was having continous high fever which no antibiotics from clinics can seem to cure.

*cut*
Little did I know how special this case would be. The first doctor cannot come up with a diagnosis after 9 DAYS of hospitalization, 3 of those in isolation ward due to suspected H1N1, later ruled out, it was decided that the family get a second opinion from another doctor. The second doctor diagnosed the kid with incomplete Kawasaki Diesease.

*cut*

There is a little story I've been meaning to share.

A client of mine bought a takaful ILP for her daughter from me. 2 months after policy in force, her husband called me at 5.00 am (lucky it was Ramadan, so was up having sahur), and asked if his daughter would be eligible to go into hospital with the medical card from Pru. She was having continous high fever which no antibiotics from clinics can seem to cure.

Unfortunately, he has to pay first. Pru medical card has 3 waiting periods, the first month for accidents only, 2 to 3rd month can go into hospital, but pay first, claim later and lastly, the 4 months (120 days) spesific illness waiting period. Needless to say, I told him that if he chooses to do so, he has to pay the bill first and then claim from Pru.

Little did I know how special this case would be. The first doctor cannot come up with a diagnosis after 9 DAYS of hospitalization, 3 of those in isolation ward due to suspected H1N1, later ruled out, it was decided that the family get a second opinion from another doctor. The second doctor diagnosed the kid with incomplete Kawasaki Diesease.

Another phone call ensued. The nurses there sort of spooked my client when they told her *** insurance does not pay for antibiotic treatment costing RM1k that the doctor told my client her daughter needed. No such exclusions in the policy was there after I checked, and I told her to tell the doctor to proceed.

Final bill? Slightly higher than 15k.

Submit claim to Pru, and Pru requested everything from her neo-natal report (check Kawasaki Diesease why), checkup report, regular doctor report and all that. It took a few months to process the claim, lucky my client understands (Rm200 paid and suddenly go and claim RM15k?) before got approval.

Discussion Points

Let's see spesific cases, claim procedure etc.

1. What's the waiting period like for other cards? For pru, 1 month accident only, 2-3 month pay first (even if you have the medical card) claim later and 120 days spesific illness.

2. Your experience in using the medical cards. Any problem encountered? Who solves your problem?

3. Cost you / your client actually paid, regardless of what's written in the policy.

Lastly,

4. If you're an agent, how confident are you that your insurer will honor what is said?

sidetrack... This Viral infection seems to be quite 'Active' late with my daughter being one of the victim, and another friend's son getting the same.. All with the similar sympton that is even antibiotic doesn't help in bringing down the fever that is sporatic.

From what I understand, the way to track the diesease (an infection to heart arteries) is by x-ray. At least this is what the client told me.

dear all,

currently im searching protection medical card,critical illness, TPD.
could somebody propose for me what policy i should take?
by the way, my age is 25.

In need of some advice.

I have 2 insurance tie to GE

1. Traditional life insurance worth 50k ( TPD + 36 critical illness)
2. Investment link protection worth 110k  (36 critical illness + medicard)

Is it sufficient honestly? is there any better deal out there? please advice

dear all,

currently im searching protection medical card,critical illness, TPD.
could somebody propose for me what policy i should take?
by the way, my age is 25.

Hi Th3D3vil,

It looks like you've got a good coverage there. You may choose to upgrade the existing coverage based on your budget etc. You may want to go through a financial need analysis to find out if you need the additional coverage and how much you can afford to set aside.

Cheers,

HH

Could you gimme your email address so that i can prepare a decent proposal for you?

thanks

In need of some advice.

I have 2 insurance tie to GE

1. Traditional life insurance worth 50k ( TPD + 36 critical illness)
2. Investment link protection worth 110k  (36 critical illness + medicard)

Is it sufficient honestly? is there any better deal out there? please advice

ya..indeed, the paed requested a x-ray to be taken on lung/chest , but everything seems to be normal.. sigh..so my dd had to take 2 different anti.b for 10 days to get the fever clear and she is ok now...It was sickening really.

..the total bill was about 3K (back in ipoh KPJ), i didn't bring my dd's med card so I paid on the spot first, now in the process of submitting the claim to my agent to get it settle..  And yes, i have to pay the doctor report for $50!  Btw.,My DD's med card is from AIA.

How much to leave behind?

2 schools of thought - Adjustment and Maintain

1. Adjustment - Death benefits not high. The idea is for your spouse or family to have money to tide them over as they adjust to not having you around for part of the income.

2. Maintain - High Death Benefits - So your family does not have to worry about not having you around.

My Experience

High Death Benefits = Not enough money for other riders and benefits, eg medical card. To be expected, since you can't expect someone with salary of RM1500 to pay more than RM200 a month just for insurance. Even with a good separate medical insurance, even family benefits can sometime cost the guy a months salary. So his monthly income goes down to Rm1375. P.A? EPF? Makan? Motor?

So most of the time, adjust the death benefit to be enough for adjustment, not maintaining lifestyle.

---

Added on March 27, 2010, 10:35 am

You are lucky they found it so quick. My client was unfortunate enough to not find it that quick, and the bill cost RM15k.

just a side note,
for AIA medical card, eventhou you dont have the medical card with you, you just tell the hospital you have certain medical plan with AIA
they will check with AIA with the i/c number. that'll do as sometime some ppl didnt brought their card always

just abit of not understand.
why two different product?
Traditional Life product , sum insured 50K + 36CR,
IL sum insured 110k+36CR with medical

how much do you pay for two actually?
i found its abit funny to buy almost same thing.
Anyway, the sum-insured is low. RM160K now days can't help alot.
Imagine you bought this plan and 1 year later touch wood  sayonara, the funeral itself already taken you 20% of the amount.

the information provided very brief, cant give you a clear idea if the plan suitable or not

How much to leave behind?

2 schools of thought - Adjustment and Maintain

1. Adjustment - Death benefits not high. The idea is for your spouse or family to have money to tide them over as they adjust to not having you around for part of the income.

2. Maintain - High Death Benefits - So your family does not have to worry about not having you around.

My Experience

High Death Benefits = Not enough money for other riders and benefits, eg medical card. To be expected, since you can't expect someone with salary of RM1500 to pay more than RM200 a month just for insurance. Even with a good separate medical insurance, even family benefits can sometime cost the guy a months salary. So his monthly income goes down to Rm1375. P.A? EPF? Makan? Motor?

So most of the time, adjust the death benefit to be enough for adjustment, not maintaining lifestyle.

---

Added on March 27, 2010, 10:35 am

You are lucky they found it so quick. My client was unfortunate enough to not find it that quick, and the bill cost RM15k.

I believe the Traditional life is The Supreme Living Care series which covers Life/TPD/Critical Illness - Policy will pay 50K whichever comes 1st. The premium shall be around RM3K +/-

The ILP also covers Life/TPD/Critical Illness - Policy will pay 110K whichever comes 1st + a medical card. The premium shall be around RM2.4K.

Just my thoughts. Correct me if i'm wrong

is great eastern good? im planning to get ILP with great eastern, but my option is still open.