Most probably You have a life policy ( maybe whole life which gives guaranteed & projected profits or more probably investment-link life insurance which allows you to invest and get higher returns)

The medical benefit is a rider which is attached to your policy and paid by your investment account

Note that your medical plan itself does not give you any earnings, it is from your life account

What medical benefits you should enjoy from your policy will be listed on your policy, depending on the Plan type you/your agent have chosen for you

To get a better idea, click here

http://zurichmalaysia.wordpress.com/medical-card/

Some people choose to have a separate stand-alone medical card, some choose to package it with a life policy

Both have pros and cons, but I personally think, packaging it like what you have done, is generally a better idea

Agree with chew_ronnie. Why medical? If you are what insurers say "sub-standard" risks, maybe be due to weight
or medical history, I suggest you grab whatever comes your way first, and then only, look around and
try to improve your coverage ( ps reconfirm your height/weight I have seen many medical requirements
due to error in filling up height/weight ). Also if anything that normally goes from good to bad, it is almost always health

Having said that, whatever the outcome, you still have 15 days to look over the policy from the day you
receive it to decide if you want it or not. You have the right to cancel the policy without giving any reason
and the insurer will return back all the premium LESS ANY MEDICAL REPORT COSTS.

Another thing I would like to share with you. All insurance companies are the same. While everyone debates on which company is better, the CEO of all companies have meetings every now and then and discuss how they are going
to sell more insurance to the market.

Insurers always never compete with same products. If one is cheap, maybe less profits, another more expensive
but more cash value, Some protection better, some risks higher, even some more guaranteed profits. If one company
sell Australian apple, another fellow will sell Fuji apple. How to compare?

Most important is agent who is trustworthy, can service you properly, more committed (maybe full-time), more knowledgeable, etc. Somebody, when you are in the hospital, will come and visit you and help you make the claims, maybe even fight with his/her insurance company to pay you more if possible

I do not have the first option of Critical Illness cover only

See images for comparisons of person age 30
I know you are not interested in investment plan, but maybe you might want to consider
46 Critical Illness plan where all others are 36 only


I represent MAA Assurance ( now Zurich Insurance Malaysia - 100% ownership ) and MAA Takaful

This post has been edited by rekamaju: Sep 28 2011, 08:09 AM

I think you are having difficulty in deciding what you actually want

Best thing is to do is show your/the agent what you now have
and let him show you how to improve on it. You may have
to see a few solutions before you decide on the best one BASED ON YOUR BUDGET

If in Klang Valley, I can help you. PM me if interested
In the meantime I suggest you read this on my blog

http://zurichmalaysia.wordpress.com/2011/0...ell-yes-and-no/

Enjoy

Many have complained about insurance being too expensive

If you really, really wanted life insurance that was cheap,
or you want to lower your cost of insurance, here is your solution

PM me if you are serious.

Sorry, but I can service Klang Valley only

TERMS & CONDITIONS APPLY




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Checkout my blog for Medical Card info
http://zurichmalaysia.wordpress.com/medical-card/

If interested, email me or call

Rama Krishnan
012-320 8475

The only reason you buy Family card is because of Family Discount (approx 10~20%)
and thus lower premium

Disadvantages, maybe:-

1) One ANNUAL LIMIT shared by all? If only one person claim, then no problem
But what if whole family in one accident for example? Enough for all?

If Family Plan, but you have Individual Annual Limit, then okay



2) If owner of Family Plan dies, or finish lifetime limit, then whole family plan cancelled

The remaining family members will have to underwrite again for new plan. If previously no health problem
then okay, but if have history, then new plan will exclude, although cancelled plan would have covered all illnesses

Also when children reach major, they cannot be covered anymore and have to underwrite new individual plan

3) Different people different need. Maybe you already have sufficient life insurance, so you need medical coverage only. Children may need not only medical, but also accident & education savings, so you take life insurance package
WITH MEDICAL COVERAGE. Normally these Medical Insurance packaged with life insurance are cheaper
than stand-alone or after family discount


Rama Krishnan
http://zurichmalaysia.wordpress.com/medical-card/

You say you want Medical only
Then look at this

http://zurichmalaysia.wordpress.com/medical-card/ (Plan 4)

Your premium per annum RM1159/- only

Lifetime Limit 1.2M
"Zero" co-insurance

If you want LIFE Insurance extra:-

Natural Death - RM50,000/-
Accidental Death - RM50,000/-
36 Critical Illness - RM50,000/-

Premium per annum - RM214/- only

Condition for LIFE Insurance - RM1000/- extra one time only Mutual Fund
investment (current returns 12% per annum based on last 5 year performance)

There is a possibility that they will pay nothing or the minimum as you say it
There is also a possibility that they will pay as they projected
There is also another possibility that they will pay more than they projected

But if they have been paying lower that they projected always, don't you
think the insurance companies would have gone out of business long ago
as they have been proven to be inconsistent to their projections?

In Malaysia, Bank Negara controls the projections in the Sales Illustrations
where the premise is to "promise less, and deliver more"

If managed properly, you should be optimistic about your returns from your ILP plans

I think different

Presently tax relief is:-

Life Insurance & EPF = RM6,000
Medical & Education Insurance = RM3,000
Annuity = RM1,000 now increase to RM3,000

Please understand that tax relief is only an incentive to invest and protect your self

People who are serious about wealth creation and protection can achieve
more with proper information and planning even without this incentive

Actually I don't know about this Annuity which seems very new

Prudential may be able to advise better


To give you an example on creating a retirement fund, see the enclosed image
(I made it as simple-to-understand as possible)

Monthly savings = RM100

Dividends you get from investment ( maybe unit trust using average per year, actual fluctuates) = 10%
Savings Years = 25yrs


RESULT if dividends on Retirement Fund is 10%

Monthly Income = RM575 forever
Retirement Fund lasts forever ( FOR YOUR NEXT OF KIN)

If you want double income, double your savings, or look for higher dividend investment





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You should be asking for investment-link funds performance, not unit trust funds
Both are different entities, the first investment with life insurance, the second only investment

This is just for info on investment fund performance for 1 year

Note that image cropped, but can view in full if anyone interested in knowing more
but must be face-to-face appointment only



Attached thumbnail(s)

I agree. Actually all this quite meaningless. What matters is clients appetite for risk, investment horizon, insurance need and account management

See your inbox

Once or twice I have seen people with crutches or some type of injury, at the counter of my insurance company, filling up claim forms. It means one of 3 things:-
- the insured's agent is a bloody jerk who has shamed my industry, by not providing services expected to the client
- the agent was a friend or relative who is no longer in the industry
- the insured tried to save some money and bought direct from the company but has to do the footwork to process the claim

For the first 2 cases, I will normally try to help where possible to redeem the credibility of the industry.

Yes, this is not a perfect world. But my question to everyone is..... how important and valuable are you to yourself?

True, true. Everybody has a choice and the moment of truth

The moment of truth is for example

1) trying to enjoy Term Life, PA & 36 Critical Illness at the cheapest possible premium



OR

2) If I had a critical illness like cancer, and I wish to take up life insurance, the insurer will either decline or load my application. How do I get this insurance coverage FREE OF CHARGE ( full term coverage after 2 years of inception up to age 65)?

Life insurance relief is RM6000/- and covers insurance that pay for your death only. You can try claiming all other insurance premiums here if you still have balance relief here. This is shared with EPF contributions. Most employees never get a chance to fit their insurance relief here, because EPF max out the relief


Education insurance and medical is RM3000/- relief.

Medical insurance is stand alone policy or rider premium that do not give you any money back. Applied to critical illness premium where they give you about 30% of premium relief ( pls check)

Education policy is premium which is paid for polices that have the word EDUCATION on them


However I must say this. If you buy insurance to enjoy maximum tax relief, then I think you got all your priorities wrong

ps better ask dumb question and become intelligent, rather than try to appear intelligent and remain dumb