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Wednesday, April 14, 2010

Quote

Insurance is always a Mistake. If you buy and nothing happens, it is a Small mistake. Don't buy and something happens, that is a BIG mistake.

Tuesday, April 13, 2010

New Policy 2010 - outlook



The new outlook of policy document comprises a jacket to house the policy document, slot to insert medical cards and also a pocket to insert loose items such as MHI Booklet and also endorsement slips in the future. The whole package of the policy document will come sealed in a plastic cover. All policy documents and endorsement slip will be in B5 size which slightly smaller compared to current A4 size which would again make it easier to carry the policy documents around.

The launch date of this new policy document outlook is on the 5th of April 2010

 

Monday, April 12, 2010

Should I Buy Medical Insurance




medical care

Should I buy medical insurance when I’m already covered by my  employer? This is a common question I get and I understand why you might  ask it.

There are 2 things on your mind. First, should I pay my own money for  something I might not need until I retire and secondly, should I depend  on the company cover? These are 2 main consideration.

Working as an employee have its good points and one of the perks is  that you get group medical insurance. Employers provides such cover to  retain staff, to attract talent and to avoid paying medical bills out of  their own pocket.

Even so, I firmly recommend my customers to have some form of  individual medical insurance because:-
       
  • employers can and will change the medical insurance benefits they  give to you. Normally it is done without your knowledge until you need  to make a claim
  •    
  • insurance companies change their terms (the fine print) without you  or even your employers knowledge
  •    
  • your past medical history automatically excludes you. In big  organizations, you don’t even fill up any form. Unless your company is  buying a big policy on you (usually for top management staff only). At  the point of making a claim, some insurance will point to a pre-existing  illness and you can’t make any claim
  •    
  • your employer or your spouse’s stops offering insurance for you or  your family
  •    
  • you might suffer a critical illness like cancer or stroke, and the  amount provided by your employer is not sufficient

Having you own medical insurance means you are in control and have a  backup cover. Besides that, here are some situations which you might end  up needing to seek affordable individual medical insurance:
       
  • you lose (or quit) your job
  •    
  • you have insurance through your spouse, and they lose or quit their  job
  •    
  • you change jobs, and your new employer has a waiting period before  you become eligible for coverage
  •    
  • you decided to retire early

These are some reason you should think about when you ask yourself  “Should I buy medical insurance”

36 Critical illnesses – Crisis Cover

What is Crisis  Cover?

Event when  you are diagnosed as suffering from one of a range of 36 critical  illnesses and and survive for 30 days. Prudential will compensate you  with certain amount based on your premiums. For example, minimum  RM20,000

What are  the 36 illnesses are covered by the Crisis Cover plans?
       
  1. AIDS as  a result of a blood transfusion
  2.    
  3. Alzheimer's Disease
  4.    
  5. Aorta Surgery
  6.    
  7. APALLIC Syndrome
  8.    
  9. Aplastic Anaemia
  10.    
  11. Bacterial Meningitis
  12.    
  13. Benign Brain Tumour
  14.    
  15. Blindness
  16.    
  17. Brain Surgery
  18.    
  19. Cancer
  20.    
  21. Chronic Liver Disease
  22.    
  23. Chronic Lung Disease
  24.    
  25. Coma
  26.    
  27. Coronary Artery Disease Requiring  Surgery
  28.    
  29. Deafness
  30.    
  31. Encephalitis
  32.    
  33. Full Blown AIDS
  34.    
  35. Fulminant Viral Hepatitis
  36.    
  37. Heart Attack
  38.    
  39. Heart Valve Replacement or Repair
  40.    
  41. Kidney Failure
  42.    
  43. Loss of Limbs
  44.    
  45. Loss of Speech
  46.    
  47. Major Organ Transplant
  48.    
  49. Major Burns
  50.    
  51. Major Head Trauma
  52.    
  53. Motor Neurone Disease
  54.    
  55. Multiple Sclerosis
  56.    
  57. Muscular Dystrophy
  58.    
  59. Other Serious Coronary Artery Disease
  60.    
  61. Paralysis
  62.    
  63. Parkinson's Disease
  64.    
  65. Poliomyelitis
  66.    
  67. Primary Pulmonary Arterial  Hypertension
  68.    
  69. Stroke
  70.    
  71. Terminal Illness

Crisis  Shield / Crisis Cover is the plan you must have in your Life  Insurance, please make sure you know how much your benefits if you are  diagnosed with 36 critical illnesses.

What is Life Insurance - Newbie’s

We start we definition of Life Insurance

Life Insurance

Life insurance is an insurance coverage that pays out a certain amount of money to the insured or their specified beneficiaries upon a certain event such as death of the individual who is insured

Basic coverage for all type Life Insurance

1. Sum Assured
2. Coverage for Critical Illness

How many types of Life Insurance available?

Basic type's policies are
       
  • Term insurance - This offers insurance protection for a limited period only whereby the money is paid up if you pass away or if you suffer total and permanent disability.

       
  • Whole life insurance - Life-long protection and premiums are paid throughout your life and the money including any bonuses will be paid when you pass away or suffer total and permanent disability.

       
  • Endowment - A combination of protection and savings whereby the money will be paid at the end of a specific period upon your demise or if you suffer total and permanent disability.

       
  • Investment-linked - For investment-linked insurance, your premium is used to buy life insurance protection and units in a fund managed by the life insurance company. The benefits paid to you or your nominee will depend on the price of the units at the time you surrender your policy or when you pass away.

       
  • Life annuity plan - Series of payments paid to you until you pass away. Types of annuity include immediate annuity or deferred annuity.

       
  • Supplementary rider/cover - A rider is a supplement attached to the basic insurance plan such as endowment or whole life.

       
  • Mortgage reducing term assurance (MRTA) - An insurance protection plan that covers the repayment of an outstanding property loan to the financial institution in the event of untimely death, disability or critical illness of the borrower.

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36 Jenis Penyakit Kritikal

Berikut adalah senarai 36 penyakit kritikal

  1. Serangan Penyakit Jantung
  2. Penyakit Koronari Arteri Yang Memerlukan Pembedahan
  3. Strok
  4. Kanser
  5. Kegagalan Ginjal (Buah Pinggang)
  6. Penyakit Lumpuh/Paraplegia
  7. Pemindahan Organ Utama
  8. Sklerosis Pelbagai / Berbilang
  9. Hepatitis Virus Fulminan
  10. Hipertensi Arteri Pulmonari Utama
  11. Koma
  12. Buta
  13. Penggantian Injap Jantung
  14. Pembedahan Aorta
  15. Penyakit Alzheimer
  16. Hilang Pendengaran / Pekak
  17. Hilang Kebolehan Bertutur (Bisu)
  18. Kebakaran Parah
  19. Penyakit Membawa Maut
  20. Aids Akibat Transfusi Darah
  21. Penyakit Motor Neuron
  22. Penyakit Parkinson
  23. Penyakit Hati Yang Kronik
  24. Penyakit Peparu Yang Kronik
  25. Anemia Aplastik
  26. Distrofi Otot
  27. Poliomielitis
  28. Meningitis Bakteria
  29. Tumor Otak Benigna
  30. Ensefalitis
  31. Full Blown Aids
  32. Lain-Lain Penyakit Koronari Arteri Yang Serius
  33. Pembedahan Otak
  34. Sindrom Apalik
  35. Trauma Kepala Utama
  36. Kehilangan Tangan Atau Kaki
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