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

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.

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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.

Normally its not about the insurance companies but about the agent that will service you.

It depends there are both cashless and non-cashless medical cards out there. It depends on which plan you're subscribed to. Most cards only charge you a co-insurance of 10% which again would be limited either by RM500, RM1000 or RM2000 etc.

Yes Great Eastern would process your GL quickly provided all info from the panel hospital has been furnished by the hospital. Apart from that, there's this usual fax issues with hospitals as well their rather inaction staffs. I'm sure this applies to other insurers' as well.

is it true that now prudential hospitalization or almost all companies are practicing this.
conusmer now have to pay 10 percent of the total sum claimed in the hospital bill?

storm88,

U ARE DEFINITELY wrong on your statement. If you say most major insurance companies DON'T NEED Deposit, then pls see the below attachments and website then only u answer this question.

I dun mean to be rude or to be offensive ok. Just to share the forummers concern.

I'm from Allianz and some of the panel hospitals charge a refundable deposit.

ING here https://www.ing.com.my/INGService/ASP-bin/S...viceType=ICWNet

Pru is pretty obvious in their hospital lists.

AIA - u have to read thru the terms and conditions in the attachment.

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Added on May 2, 2010, 11:50 pm

If u don't mind pls let us know which company he is reffering to?

Oooppsss!

Then heat is building up. Ok just for the sake or arguement here.

To me / to M'sians:
MAJOR Insurance Companies = Great Eastern, Prudential, AIA, ING, Allianz and Hong Leong Assurance.
All these 6 companies policy holder have to pay a refundable deposit when admitted to certain hospitals. It is the hospitals policy to safeguard their interest - not at the discretion of Insurance Companies.
And your statement - MOST MAJOR insurance companies DON'T charge deposit? Where 6 out of 6 also charge a deposit. Haha

I only believe in Black and White and most companies up there has listed the deposits in their hospital lists.

Ok. This is just for sharing of what i know.

Ok, discussion closed! But i still dun agree with "MOST ADMISSION WITH LIFE INSURANCE COMPANY MEDICAL CARDS DO NOT NEED DEPOSIT". The deposit amount is already listed in the hospital lists.

Ok, which company u know that the hospitals will not charge a deposit? We'd like to know.

Thanks

Hi sorry for this noob question......My wife is currently on medication for high blood pressure and also diabetic.  Can I subscribe to any of the insurance company in Malaysia with pre-existing illness?  Can the insurance cover the pre-existing illness?  Anybody can assist me on this question?

I just heard a statement from an insurance agent "For hospitalization benefit better to get from Life insurance company rather than from General insurance company because they are more expert in this area". when asked to explained, she said:

1. the premium is cheaper because it is not guarantee renewal-this is wrong since there are companies offering medical card with renewal guarantee
2.another point, it is difficult to file a claim, company did very deep investigation before grant a claim. often they asked patient to pay first and claim later. * this part I'm not sure, hope anyone can share their experience

Dear Insurance Agent,

Would like to ask, those medical card (stand alone, rider, ILP) from insurance company will have their own panel hospital. If admitted to non panel hospital, the medical card can be use without paying the medical expense? Or we need to pay first and then claim back later?