You're most welcome Hackwire. I'm sure you'll pick the most suitable product for your child. My best wishes for that.

There are lots of good agents but at times I see agents selling for their needs rather than customer's needs. It's a classic case of few bad apples in the barrel full of apples. Times are changing nowadays and customer's needs are increasingly complex so there has to be some changes.

I'm very sure most of us here would be able to explain the jargon to you, just post it here.

Good-luck.

No one says co-insurance is a bad thing in the industry, it has its reasons why it should exists. I'm just questioning the likes of ppl claiming certain policies are 'co-insurance' free when it is not entirely true. Have a good read again what I posted. Cheers

Your point is noted numbertwo. Your concerns are valid and I'd say it's an ethical issue. The way a product is marketed depends on its sales force and they should market it with integrity.

"they should market it with integrity."
This should be the way!

Prudential family plan (it is actually called by Pruguard My Family) is a family plan that something looks like Group H&S when you are employed. It falls under General Insurance and it do not carry any cash value. So you need to buy another education policy for your child.

Do you know about Prulink Assurance or PruMy Child? It is a investment link product that you can attach with medical card and few other rider as per your requirement listed earlier from RM100 (Definitely RM100 can't get all). It has cash value, and you can also dedicate some portion of your money only for saving/investment. As example, you can put RM50 from your monthly premium for this saving, after 5% deduction for management fee, the remaining RM47.50 is invested in a fund that you choose. Therefore, with one policy you can get medical card and also education fund for your child. And you can put PruPayor benefit, so that in the event of parents TPD/CI/Death, the premium is FREE. And you can also opt for double parents PruPayor. Any TPD/CI/Death happen to either you or spouse, the premium is FREE, BUT if it happens to both, Prudential will pay double the premium that goes to your child education fund.

Wish you all the best. Hope you can find what you are looking for here.

This post has been edited by ajau: Apr 20 2010, 06:39 PM

Yes, hopefully the vast majority do their marketing this way.

I should not rise an alarm here becoz i don't know abt Pru's ILP. But in general, all ILP has a band/table that says the percentage of your premium that is allocated to buy into funds each year, and it is on incremental basis ie. from 30% - 40% on first year up until 90% (or even 100%) on 7th or 8th year. Clarify this before making this statement. Cheers.

Thank you for asking.

The premium paid is divided into 3 account.
1. Basic Unit Account. This account to maintain your sum assured (Death and TPD benefit), Critical Illness and Accidental Death & Disablement
2. Protection Unit Account. This account to pay other benefit, such as PruHealth (Medical Card), PruMed, Hospital Benefit, PruPayor, PruPayor Double Parent, etc.
3. Investment Unit Account. This is where you can choose PRUsaver (min RM10 monthly) or PRUedusaver (min RM50 monthly) for you child saving.

Premium Allocation for Basic Unit Account and Protection Unit Account to purchase units in the investment linked fund is
Year 1: 40%
Year 2: 50%
Year 3: 60%
Year 4: 70%
Year 5 & 6: 90%
Year 7 and above 100%

While Premium Allocation for Investment Unit Account is 95% every year.

Please refer here (PRUmy Child Broucher) and turn to page 4, Item no 4.

The above also apply to Prulink Assurance Plan for adult (Turn to page 5 and 6).

One good thing about PRUmychild, you can take up this plan for your unborn child as early as 18 weeks into your (for mother) pregnancy. In the event your child die before 30 days from birth, the benefit payable is the total premiums paid or the total value of units in the account, whichever is higher. You can also take this plan for your child who is between 1 - 18 years of age on his / her next birthday.

And on top of the normal 36 Critical Illness, you can also opt for Child Specified Illness (Severe asthma, Leukaemia, Insulin-dependent Diabetes Mellitus, Rheumatic fever with valvular impairment, Kawasaki Disease with heart complications, Severe juvenile rheumatoid arthritis, Glomerulonephritis with Nephrotic Syndrome, Severe epilepsy, Severe epilepsy). However this benefit will cease when the child reaches age 25.

And if you as a parent and do not currently have any insurance, you can also opt for Parent Cover Benefit that will pay out a lump sum in the event that the insured parent suffers from TPD before age 70, passes away or is diagnosed with a critical illness. And you can also opt for Income Cover that will pay a monthly income in the event that child's parent suffer TPD, CI or Death.

I hope this clarify your queries.

This post has been edited by ajau: Apr 21 2010, 10:09 AM

I feel Prudential is the most complicated plan around and their brochure can also lead someone to believe they are covered for some thing but its optional due to their labeling of the riders.

I myself discover that an agent sell me Pru Child . than when i read, Pru child is for somebody who are expecting newborn. In fact, my baby already seen the world.

Then upon reading more about the Pru health and Pru child , i realized that many hidden riders are optional....

Very misleading and didn't specify enough detail on sub rider. All the sub rider names just pop up of no where to inform the client in a main rider. Am i confusing you guys now?

PruHealth (Medical Card), PruMed, Hospital Benefit, PruPayor, PruPayor Double Parent, etc.

Double name and same meaning are use as well like the above . You just don't know what to get and you will never settle for it. Manipulation is the key to disguise their policy from others i guess. But hey... this is insurance policy and not to make people confuse or what.

I had personaly drafted out 4 insurance company for comparison and I was lucky that i did not commit so soon yet. I could end up paying RM 50-60K for something i don't need. I realize that most major insurance company profit from this due to greedy agent. A policy that only cost RM 30K plus could end up paying RM 80K plus.

So be careful guys, only true and honest agent will identify your budget and needs, and they will draft out the illustration base on your budget.
I knew some agents that do not want to do Hospital and Insurance policy because too much work and too little commision. They also declare the loss of time and money they have to evaluate a case in the hospital.
Only gives the money to committed agents who are passionate to their job.



This post has been edited by hackwire: Apr 24 2010, 10:07 AM

ops sorry wrong post lol


This post has been edited by shoduken: Apr 25 2010, 05:46 AM

Can a Pru agent pls clarify above riders and what they are and it sounds like a double rider double job kind of thing like what hackwire has brought up.

bro hackwire,

Yeah you should get 1 that serves your needs and budget right. Not to serve the needs of the agent.
Good luck shopping

Also appreciate if you can draft out what u meant by paying 50K to 60K extra for something you don't need? Just share it out coz I would also like to know more. Thanks

This post has been edited by chew_ronnie: Apr 25 2010, 06:03 PM

It's not complicated. It's a plan that you can have as much protection as you require based on your current need and budget and you can change your protection when the times and money come.

PRUmy child is for unborn child and also for a born child under 18 years old. It is designed to protect your child for every stage of his/her life - during birth (if you buy the policy during pregnancy), during education, during employment where they may have commitment such as car/house, during marriage to protect their family and also for retirement.

The rider, I think its all apply to any insurance, it is an optional. Nothing is hidden. If you want, you can take it, if you don't, just leave it. Why there is lots of rider? Even though some rider sound like duplicating, because every people have different need and have their own budget. Prudential try to entertain everybody needs and budget. It may sound duplicating for you, but actually it's don't because one is basic, another one is advance. Some people has more money and can effort to pay for advance protection but some people can only effort to pay for basic protection.

PruHealth = Medical Card
PruMed = Hospital Allowance + ICU Allowance + Surgical Allowance
Hospital Benefit = Hospital Allowance only (you can combine both PruMed and Hospital Benefit, PruMed premium is higher than Hospital Benefit)
Enhanced PruPayor Basic = To pay your policy premium (excluding PruSaver) in the event the INSURED person suffer TPD or diagnosed with CI
PRUparent payor basic = To pay your policy premium (excluding PruSaver) in the event the PARENT of insured person suffer TPD or diagnosed with CI
PRUparent double payor basic = To pay your policy premium (excluding PruSaver) in the event EITHER PARENT of insured person suffer TPD or diagnosed with CI. The premium will be paid DOUBLE if BOTH PARENT suffer either TPD or CI (you can only take either PRUparent payor basic or PRUparent double payor basic)

You can't learn only from reading book. You certainly need guru because sometime we can't understand from the reading. The policy is a contract and it is legal. There is no manipulation. If there is, definitely Prudential cannot survive in the industry. What you do is correct. You come here and ask for other people opinion to get better understanding before you take any policy.

"Very misleading and didn't specify enough detail on sub rider. All the sub rider names just pop up of no where to inform the client in a main rider"
Can you give which rider you said is misleading and what sub rider you are talking about? The rider is mentioned in quotation with its definition and coverage and the detail also certainly in policy which is binding document in law.

I also confuse what do you mean by "paying RM 50-60K for something i don't need" and "A policy that only cost RM 30K plus could end up paying RM 80K plus". Usually, you can always have quotation from an agent and you will know exactly how much for every benefit you take will cost you. And the quotation also explain briefly each benefit you take and its coverage.

This post has been edited by ajau: Apr 26 2010, 01:30 AM

it's ok i just don't want to run back the pamphlet and introduce the thing i don't understand. it will fry my brain soon. The jargon i found is in the download PDF pamphlet. So they didn't explain each rider . Now you did.

but you might want to listen to the consumer rather than making a defend. if other have no problem and your marketing guys felt it's good enough than im not going to tell them what went wrong. But i have seen 4 insurance company and will be making comparison soon but i am leaving Prudential out of it because i feel a bit of goosebump if i ask more. it make me like a dumber. So i rather go for simple and my needs.

anyway, thank u ajau for sharing the meaning of the riders and the explaination. you the man.

This post has been edited by hackwire: Apr 26 2010, 06:37 PM

Dear All, there is always a cooling off period of 2 weeks or so for the customer to go thru the details and decide if the product bought meet his or her requirement. It is the moral obligation of the servicing agent to go thru with the customer.
Always be ware that there is always a price for everything. Happy buying

trust me 2 weeks are very fast. it already took me a month to understand some of it. usually working people will not have enough time to do research. so after a while, they will surrender if they can't afford anymore. but life is in the fast lane these days, also a great opportunity to skim fishes that swims fast and on top the ocean.

Hi,
Sorry coz I reply quite late for this question.
ICU capped at RM300 for traditional plan medical card.
ICU capped at RM500 for ILP medical card rider.

Hope this will help.


Regards,
Gavin Lim

It looks the same as how the other ILPs from other company is running , only difference is the skeleton where Pru split it into 3 accounts. Thanks for sharing.

Fundamentally it's still the same as other companies as you mentioned.

if i have medical card, do i need to pay upfront deposit to hospital for admitted?

Some of the hospitals, u need to pay around 100 to 300 deposit. But can reimburse back when discharged. This is the refundable deposit. SO check with your insurance company which hospital requires u to pay deposit for admission ok. 100 to 300 is a small amount unlike where u don't have a medical card where the hospital will actually ask u to pay 2000 to 5000 for serious cases.......