But hor, my agent ask me to buy as Investment Policy (abt 2k) rather than standalone medical card. (abt averagely 1k, now is RM 500)
This is similar with PRUHEALTH by Prudential.
Why should I pay AIA to invest for me?
If i buy investment link, a quite big amount is for management fees.
Let assume I pay 1k for medical card and my life span is another 30 years.
So I just have to pay 30 k and the other 30k i can use to invest in share market.
I think I guarantee I have higher return than AIA investment.
What do you think?
Let be exact, I am 34 years old now. If I live for another 36 years, the premium is
642 * 15 (36 -50 years old) = 9630
1063.50*10 (50-60 years old) = 10635
1833*10(60-75 years old, I mati at 75lah) = 18330
Total: RM 38595
If I buy investment link, RM 2 k pa * 35 years = RM 70 000,
I have 31485 to invest myself.
How much investment link charge?
1. Typically, buying an ILP will involves a 5% sales charge.
2. Fund management fees will be around 1% to 1.5% depending on the type of funds.
3. Expense ratio can range from 1% to 3% depending on the type of funds.
Based on a conservative note, for the first year, it would have incurred at least 7% in charges before counting any positive returns.
AIA Medical Card (launch June 09)
a. No lifetime limit
b. 24-hour protection
c. Lifelong protection to age 100
d. Zero co-insurance for claims within a specified amount
e. Lower rates via the Family Plan
f. Hassle-free assistance in your admission to the hospital via AIA Health Services
g. Worldwide coverage
h. High Cancer and Kidney Dialysis Treatment Limit
i. Extended coverage for Post-Hospitalization Benefit.
Cost :
Age 30 -Male ………………………………………… Age 36 – Male
RM490.50 pa (Room RM150package) RM642.00 pa (Room RM150 package) – minimum
RM588.00pa (Room RM200 package) RM770.00 pa (Room RM200 package)
RM878.50pa (Room RM350 package) RM1,155.00 pa (Room RM350 package) – maximum
Age 50 – Male ………………………………….. ……… .Age 60 – Male (Last Entry Age)
RM1,063.50 pa (RM150 package) RM1,833.00 pa (RM150 package) – minimum plan
RM1,925.00 pa (RM150 package) RM3,363.50 pa (RM350 package) – maximum plan
Age – 30 – Female ……………………………. ………Age – 36 – Female
RM604.50 pa (RM100 package) RM792.00pa (RM100 package) – minimum plan
RM1,088.50 pa (RM350 package) RM1,428.00 pa (RM350 package) – maximum plan
Age – 50 – Female ………………………………..Age – 60 – Female
RM1,374.00 pa (RM100 package) RM2,037.00pa (RM100 package) – minimum plan
RM2,502.50 pa (RM100 package) RM3,766.00pa (RM350 package) – maximum plan
An ILP should be used mainly for your medical card coverage. (Is this true?)
Based on the 1st glance,
AIA win, pru health have liftetime limit 625k only.
Premium(34 years old) - AIA RM 2658, Pru Health RM 2498 (Win)
Now is 1 vs 1
Above is AIA, kamsia melvin.
ANY COMMENT????
I can't find anything from AIA websites (really bad websites, no info), whereas Pru Health websites is very complete.http://www.pruhealth.com.my/
I will do the comparison when I receive brochure from my AIA agent.
18 comments
ck, i think you are quite right, normally investment link only suitable for someone who is very young, e.g. someone graduated from uni, who need a bigger amt of protection, coz the premium is cheaper when one is younger. why you agent ask u to buy inv link + med card , i think partly becoz most of the insurance agents out there think that is very hard to service a client if he just buy a medical card which not much of commission to them. well every product got its value, the matter most concern is the product suit the needs or not.
btw about ur med card, you dont think it will be enough to cover you for the next 30 years, dont forget the term call "medical inflation" you might need to top up or keep upgrade in the future.
ck, will the medical card cost be cheaper if u bundle it in investment linked plan?
Hi bappy,
You are full time house wife kah?
Or you do insurance.
Still struggle to make decision.
When i can have 1 of your cheese cake.
Hi Kaki,
I think insurance company not so stupid loh, all is calculate already.
Bear in mind, I not yet deduct the management fees hor.
When you get older, your premium to buy unit will be less and less.
Maybe I am wrong.
Any insurance agent out there to highlight???
thats my wife blog la.. haha.
i've been in insurance industry for some time, so i know some of the thing there.
insurance helps you manage your risk, its a good thing.
btw you a he/she ?
ck, will the medical card cost be cheaper if u bundle it in investment linked plan?
i mean, considering u pay 2k per annum, how much goes to pay insurance charge for medical, how much goes to pay for life premium, etc etc?
currently, my ilp premium of 1800 per annum, first and second year almost 900 goes to pay my agent commission...then 3rd and 4th year, half of 900, and so on...
"When you get older, your premium to buy unit will be less and less." this one depend i would say, if the investment can cover the premium then basically you don have to pay already, and your investment should keep growing.
its good for those young ppl in 20+ , btw time they retire, the investment portion might be able to cover the cost of the medical card.
Hi Kaki,
I think so, it same as what you say.
Maybe you can ask bappy.
So bappy, what is your advice?
Should I buy ilp with medical card??
Or standalone??
Appreciate your comment. ( I am a he)
Hi, I'm a part-time insurance agent for AIA, and I'd say most medical cards by major insurance companies are roughly the same, but AIA's advantage is that it has NO LIFETIME LIMIT, only limited by the Annual Limit.
You may contact me(e-mail/MSN Msger) at fowler17 at hotmail dot com.
For PruHealth, you gotta buy the medical card together with the investment link plan.
I can provide you with the softcopy of the brochure and proposal table/illustration :D
BTW, if you buy ILP, the Medical Card premium will be at a discount (20% for male, 35% for female).
For first few years' premium, less will go to funds, cos as someone here said, a part of it goes to the commissions and insurance company earnings.
ck it really depends on ur needs, its better u can get a financial planner to assess your current financial situation and future needs. like what i say every products has the value, there is no true or wrong.
maybe your life insurance coverage also not enough then u should consider a inv link + med card.
Thanks Bappy and My Precious.
My Precious, Can you email me the AIA brochure?
My email: ck5354@gmail.com
Kam Sia in advance.
you mentioned:
- AIA RM 2658, Pru Health RM 2498
Investment-Linked Plans are very customizable. Can always adjust your life sum assured value, etc.
@vampire
you are correct.
im Prudential Insurance Agent.
AIA with no life limit right which is great. But how about annual limit?
Prudential allow for no annual limit.
Somebody from AIA can tell me about this.
aiya ya, from the brochure
Room 150
AIA annual limit is 90k
Pru health is 62.5 k meh
So AIA still better lah
nobody mentioned abt no increment of premium in prulink assurance plan meh? if u bundled med card in PAP u will get discounted med card and no increment in ur premium
Hi
I have an investment link policy with prudential and i have my pruhealth 200 plan that has NO ANNUAL LIMIT that i can use up to 750k for a lifetime.. plus 300 no claim bonus every year
My fren's uncle died because of blood cancer and guess what the treatment cost him 200K++,
so if the uncle took AIA medical card 200, the uncle still has to pay by his own money because AIA only cover 115K.
what for buy that kind of medical card if we still have to pay by our own money
furthemore u can get prudential daily cash allowance at private and govt hospital also..non like AIA only in govt hospital.. we apply for medical card because we want to go to private hospital and get specialist for our treatment not at govt hospital
CK5354, as u mentioaned earlier
investment link,has quite big amount for management fees.
(the other 30k i can use to invest in share market)
if u buy stocks in share market u have to pay the brokerage fee 0.7% if u sell goes the same.. total 1.4%
share market is a high risk investment..
at prudential u can get evrything in one plan, protection, medical card and investment for ur retirement easy to manage
why choose the expensive "AIA Medical Card vs PruHealth"
lets try maa product... cheeper then other and more benefit can u get.... can have stand alone m/card
no co-insurance with high annual coverage .. Why must pay 10% ... if already paid monthly premium..
30 - 39 yrs (male)
annual 100k
life time 300k
pay only RM67 per month
guaranteed renewal
call me 0103353667
tq