Being a life insurance agent myself, I always find out my client’s needs before I propose any insurance product. All these years, some insurance products had been withdrawn and no longer available to the market. But there are always new products launched every year. It may be a whole new plan, or just another additional rider to be attached to existing policy. Since I am dealing with Great Eastern all these years, I am much more familiar with their products. So here are some insurance plans which are hot selling products in Great Eastern. I will use an example of a new policy holder age 30, male to illustrate how much benefit he can get for paying RM2000/year premium. Please take notes that all the future saving projected are not guaranteed, unless it is mentioned below.
Investment-linked Products
Greatlife Portfolio Insurance
Description: Regular premium investment-linked policy.
Example Benefits: Death Benefit RM100k, Critical Illness RM80k and waive premium, TPD (Total and Permanent Disability) RM100k plus RM10k yearly benefit and waive premium, Health Card RM150k limit, Savings RM37k at age 55.
Main selling point: High yearly benefit for TPD, Cashless health Card
The main reason you should purchase this policy: Protect your existing wealth and also your future earning ability.
Supreme Flexilink Insurance
Description: Regular premium investment-linked policy.
Example Benefits: Death Benefit RM80k, TPD (Total and Permanent Disability) RM80k and waive premium, savings RM94k at age 55.
Main selling point: High allocation for investment, hence higher savings
The main reason you should purchase this policy: Protect your investment power and savings for retirement
Traditional Insurance Products
Supreme Livin’ Care Plus
Description: Regular premium living assurance whole life policy.
Example Benefits: Death Benefit = TPD benefit = Critical Illness – RM57,471, Savings RM80k at age 55.
Main selling point: Guaranteed increase of Sum assured, guaranteed premium, Option to buy another policy after critical illness claim paid
The main reason you should purchase this policy : Protect your existing wealth and also your future earning ability.
Supreme Care
Description: Regular premium whole-life non-participating policy.
Example Benefits: Death Benefit = TPD Benefit – RM204,082, savings RM61,224 at age 55 (surrender value guaranteed).
Main selling point: Low premium high protection, cash value guaranteed
The main reason you should purchase this policy: Funding your living trust, liability cancellation
These are just a few best selling products from Great Eastern. Which product you bought from Great Eastern? Feel free to ask any question at the comment section for further details.
Related Article:
Top 10 reason to buy life insurance
Everything about Life Insurance Company in Malaysia
Why you should first buy Investment-linked Insurance Policy
Investment-linked vs. Traditional Insurance
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I am looking for a medical insurance policy for my daughter who is just borned. Please advise on the most appropriate product for her.
I am looking foward for family medical package that could placed all of my family members under one roof.
Hi Mohan,
Great Eastern doesn’t provide family medical package. Anyway, GE provide 5% discount when there are more than 2 policies in a family. The family package is available from AIA. You might want to look into that.
About Great Life Portfolio Insurance, what is the max claimable for out-patient Cancer and Kidney treatment? is that up to max of lifetime limit?
Hi Elvis,
It depends on what kind of H&S (Hospitalization and surgical) plan attached to the policy.
Currently, there are 2 kinds of H&S plan with 4 different packages.
The most popular is the ILHP (Health Protector)
For the medium package of ILHP, i.e. ILHP150, the outpatient limit is RM15,000/year . You can claim all the lifetime limit of RM150,000, but maximum RM15k/year.
Hi KCLau,
Does the H&S u r referred same as Great Medicare? because those plan within the product indicated of lifetime limit.
Hi Elvis,
No, Great Medicare is a different H&S plan which is purchased separately.
Can you share with me the H&S Plan with 4 different packages? U can email to my mailbox lckhor@yahoo.com Thanks
Can I just purchase the H&S Plan only?
Hi Elvis,
You can buy the Great Medicare plan as standalone H&S. But not the IL Health Protector, which had to be included in an investment-linked plan.
Do you have latest Great Medicare product? kindly email to lckhor@yahoo.com thanks
I was thinking of becoming of full fledge financial planner. But there are too many companies in town offering insurance. What do you think? Which agency offer comprehensive guidance and practice total financial planning, I meant inclusive of mortgage, tax planning and trust will.
Please tell me which Insurance best serve the above purpose.
My friend was telling me about ING? What do you think? I was informed they have got home and business financing…Please comment.
Should you free, you can also call me at 014-6401398.
Thanks
Nicholas Low
@Nicholas
I think there is not much difference between different insurance companies.
If you are a capable person, you will succeed regardless of what company you are working with.
hi Mr KCLAU,
You think there is not much difference between different insurance companies?
Why Only AIA provide family medical package. GE provide 5% discount when there are more than 2 policies in a family. other ins com plan also difference…
agent from prudential like to sell me investment link product with medical card. GE agent and allianz agent like to sell to saving plan, something like endowment plan.
my age is 31, if i only want to cover life for 3 million,what plan is suitable for me, and cost how much? because investment link plan not accept it..
thanks for your reply
Hi Eddie,Regarding your question about insurance:
1. You think there is not much difference between different insurance companies?Why Only AIA provide family medical package. GE provide 5% discount when there are more than 2 policies in a family. other ins com plan also difference…
You are right about the difference of plans. And basically every company’s plan is competitive. Example, you want a family plan. Only AIA provides family plan. GE don’t have family package. So they provide individual limit and different term plus the 5% discount. What I mean is that you can get a thorough protection from a single insurance company. Comparing different plans in Malaysia will require you to meet 16 different company’s agent. By the time you did all that, probably you will get the most suitable plan you like.It is wiser to focus on what you need on protection, but not what plan that you think is the best.
2. agent from prudential like to sell me investment link product with medical card. GE agent and allianz agent like to sell to saving plan, something like endowment plan.That’s the problem with insurance agents.
Product-selling is what cause the problem above. Some agents only want sales. Finding a good agent is essential.
3. my age is 31, if i only want to cover life for 3 million,what plan is suitable for me, and cost how much? because investment link plan not accept it..
Why is that investment-linked plan not accepted? For your age, GE’s Greatlife Portfolio Insurance (also investment-linked) can give you RM3 million protection with premium RM8000/year.GE’s cheapest term insurance for 5 years term will cost RM8340/year premium. In my opinion, investment-linked is the most cost-effective in your case.
I , 39yro, non smoker, crane driver, would like to know if I want to get RM 500K sum insured on supreme care covers death, total permanent disability, how much is the premium?
Thank you
The premium is RM7225 p.a.
Please be informed that this policy will be withdrawn and no longer available after 30th Sept 2008
I dont understand about the new product from Great Eastern..AddVantage Plus, Invesment-Link product
@Amy,
AddVantage Plus provides guaranteed increment of sum assured.
The increment is 5% per year until the sum assured is doubled.
Let’s say you buy 100k now at age 30, when you are age 50, your guaranteed protection is 200k
hI, i’m 31 yr old, working at shipyard, have some querry here:
1) how much premium is needed to get a supreme living care plus 60K insured?
2) Knowing that there is a new Smart Medic Card, is it better to buy smart medic or IL Health Protector?
3) Is buying standalone medical card better or buy IL health Protetor? Thinking of high insurance charges at the older age, where we may want to cancel the policy during that times. Medical Card will be a concern then. We might be forced to continue pay high insurance charges to sustain the IL Health Protector medical card. what is your advice?
Thanks
@ sky,
a) The premium is RM2145/year for age next birthday 31 male
b) for young people like you, I would recommend ILHP – it is cheaper, without co-insurance. And we can’t be worried about 50 years later. The medical industry, policies, ruling etc may have changed a lot by then.
c) I would prefer ILHP. It is true that at old age, insurance charges are ridiculous. You can reduce the basic sum assured to the minimum required at that time to keep your policy from paying too much insurance charges.
I need policy for my child age 12 years old.Please recommend a policy for me.Thank You.
@Soh,
It depends on what you want and need for your child.
The basic need is medical insurance and some education saving.
can u explain on new product of great eastern ‘great multi cash’ ?
Quote ” c) I would prefer ILHP. It is true that at old age, insurance charges are ridiculous. You can reduce the basic sum assured to the minimum required at that time to keep your policy from paying too much insurance charges.”
When I was age 27, I bought investment linked plan with IL health protector. After read the above comment, can you advice me when is the ideal age to reduce the sum assured?
Where can I get more information about the ILHP from the internet? I have totally forgotten how is it operated and what is covered?
@ Wai,
When is the ideal age to reduce the sum assured?
My answer: It very much depends on your need at different stage. The insurance charges schedule shows that it starts to increase on age 40 onwards.
I guess when you retire (maybe 55, 65 or later) and not producing active income anymore, reducing sum assured will make sense.
I have the brochure. You can contact me (find the form at the header tab) via email to get the brochure of ILHP emailed to you.
Hi Mr. Lau,
I have been buying Prudential Medical Card for both my father and mother in law for the past few years. I was wondering if it’s possible to buy only Medical Card with no other benefits from GE. and wat is the price. could you be kind enough to assist me in that?
Male 1957 Smoker
Female 1960 Smoker
Hi Senny,
GE do provide Standalone Medical Card. But since you’ve been renewing the Prudential medical card, it is advisable to continue with it.
Recently, Im doing a research that regarding the retirement plan. There are some doubts that make me confusing around.
Can you do me a flavor that illustrate the differences between GREAT GOLDEN CARE and GREAT MULTICASH ?? your reply will be appreciated.
@ Alvin Ng,
Great Golden Care – immediate annuity plan. You put in a lump sum now, and get income distribution every year onwards. – suitable for retiree.
Great multicash – is the reverse of Great GoldenCare. You put in money every year for the terms (15, 18, 21 …. years), and withdraw a lump sum at the end. – suitable for young people planning for retirement saving.
Hi Mr Lau,
I would like to buy Medical Card for my 2 children
Son age 23 years old
Daughter age 18 years old
Could you please let me know the premium.
Thank you.
Hi Mr Lau,
I’m 24 years old, i would like to know is Great Eastern provided any 3+1 plan? like medical card, life and saving? I would like to know further on that, eg. premium. Thanks..
Further info can email to my account, TQ in advanced!
@ Elva,
I think you are referred to a plan that can provide all the benefits – protection and saving.
In this case, investment-linked and some traditional whole life plans can be packaged for that purpose.
I heard about GreatLife Essential Lady only yesterday which i already pregnant for 6 months now. Am i still eligible to buy this insurance? urgent!!! tq
@ Rachel,
You can still apply for Grealife Essential Lady if I am not mistaken.
But don’t wait until 8 months pregnant, or else you will only able to apply after 1 month delivery.
There will be a premium loading between 6-8 months pregnant.
My father now age 57 the next coming year is Age 58. My father did not buy much ins. Last year just bought a new critical illness ins from ING cost RM5k+ (cover 50k + every yrs sum insured will increase ard 20% depend on the table) . We just realised that he did not have his own medical card. Now we would like to buy a medical card for him in Pru but we have not enuff money to buy such premium that inculde ING. What ins can we afford? WHich shd we buy cri or med?
@ Sue,
To choose between Hospitalization & Surgical benefit (H&S) or Critical Illness cover, H&S should be the priority.
Tks for informing. Will arrange to Buy H&S fr Pru. But the CI oredi paid 1 year liao. Do u have any CI that r cheaper premium? Would like to quit. Any suggestion?
Hi KC Lau
I chanced upon this site while searching for tips to consider when purchasing medi-card. I already hv Great Life Essential Lady – I wld like to purchase a Medi-card and is very confuse on what I shld be looking 4. I am thinking abt medi-card cos recently my bro has a heart-attack n I know my husband wont be able to afford the cost if anything happen to me. However my ins agent keep on pushing GE comprehensive Medi-card to me.. but I already hv GE Essential Lady… I know I need a medi-card but what type? Comprehensive or standalone????
Hi Kylene,
There are pros and cons for both.
Standalone medical card has the problem of premium renewal. I fear that when it is time to renew the card and somehow we forgot to pay the premium due to any technical problem, the coverage will lapse and need to reset all the waiting period.
For my personal preference, I would like the medical card to be bought as a rider in an investment-linked policy.
Hi, I would like to know the difference between Livin’Care, Supreme Livin’Care & Supreme Livin’Care Plus policy. What exactly is Livin’Care policy about? Is SLC sum insured will increase while premium remain the same just like SLC Plus?
thanks
Hi Joanne,
They are more or less the same thing, just different version that slightly change a little here and there.
Hi Mr KC Lau
Here my situation-
I’am age 45.My company cover all my family’s medical ins.
If i want to buy medi+hospi+surg – cI for myself,what do you suggest?
I heard a lot of policy didn’t enough to cover ( surgical fee ….)
My budget arr. RM3000-3500.
Thanks
Hi Thai,
FYI, Hospital & Surgical (H&S) benefit is different from CI.
H&S cover the hospital expenses, but CI benefit pays you a lump sum in case of critical illnesses.
For your case, you can buy both benefit separately. Talk to an insurance agent to find out more on the products available on the market.
Hi KC Lau
I can see their your new website is getting more interesting.
Previously I had issues with the GE Medical Card’s guaranteed renewal clause subject to policy available in the market. Just would like to check what is the latest development and is there any alternative suggestions to address this concern.
Appreciate your kind advice.
Thank you.
hi KC Lau,
My brother was a healthy person. He is 38 yrs old and a non smoker. He is married and planning for no children. He was looking to buy a medical health insurance / Life Insurance from Great Eastern and he can afford to pay the premium of RM5800.00 annually. What is the minimum insurance coverage for someone like him? And what kind of insurance plan would you suggest the best for him?
Thank you.
I would suggest he buy Standalone Medical card premium RM787 which cover RM200 R&B annual limit RM120,000 n life time limit RM480,000.But the premium will increase on medical card every 5 years.If his budget is RM5800,i think he should put the rest in critical illness which the protection cover will increase.
dear KC Lau,
I want to purchase a policy for my 4-year-old daughter that can cover her education, health, medic-card, savings and also life. Is there such plan/policy? how much should i pay per month for that? from the lowest premium to the highest please.. tq so much
You can get a policy that covers all the benefits you mentioned. The lowest premium can be found on investment-linked product, as low as RM100/month
There is no upper limit though.
Hi
I wanted to get a MHI policy (medical card) and combination with education insurance for my child (7 mths old). Please advice which types of MHI is the best especially MHI?
Please reply via email.
Thanks and best regards,
ck
Hi Crizz,
I would advice to have a medical card attached to a life policy as a rider rather than standalone medical card
Any reason why?
I would really like to know the advantages/disadvantages of both standalone Medical card and rider Medical coverage.
Thanks in advance
Normally, insurance company offer better package and rate for rider Medical coverage. The main concern is the continuity. It is higher risk that standalone medical card would lapse after 30 days when you forget to pay premium on time.
Dear KC,
I’m 25 years old OL looking for a suitable life protection & savings plan.
Other than GJA (minimum 10 policy years,4% cash payment) and G.Multicash (minimum 15 years,survival benefits every 2 years), what are the main difference of these 2 products?
how many % is the survival benefits and how much is the minimum premium of G.Multicash?
Thanks.
Ang,
GJA gives you annual income until death (something like a pension). – suitable for retirement savings
Multicash has a fixed tenure. You will get a lump sum at maturity. – suitable for education savings, business startup funds savings etc.
Depending on your age, G. Multicash lowest premium is around ~RM500/year
Hi ….
I just heard from an agent from great eastern that the company offers a very good saving plan… { GJA 3 }
For example .. premium a year is RM 12,000 and its for 10 years. After that i’ll be getting RM 5,522 every year till 87 year old.
Im just doubting that this plan really exist ? Cause i cant find any evidence or black and white to backup this plan ….
I would appreciate and really thankfull if u can clear my doubt ..
thanks …
Regards…
Oscar,the RM5522 consists of half guarantee and half non-guarantee bonus,non-guarantee is based on company performance.So far never heard of GE paying less than they promise.There’s one form for you to sign for guarantee 10 years as well,so you don’t have to worry.I bought one GJA3 as well but not as much as ur agent offer you.
I feel my CI not enough. Is there any CI sell standalone ?
I am 36 years old non smoker. Female.
I looking for RM100K protection cover. How much the premium ?
Is the premium change every year?
My GE agent have been advising me to upgrade my current existing medical plan IL Health Protector tagged to my unit link policy with a limit of RM150k per life time to Smart Medic which provide higher life time limit.
My concern is that the Smart Medic is subject to co-insurance while my current existing plan is not. On top of that , there is a concern on the waiting period in case of illness happening within the 120 days of inception. My agent mention on the conditional waiver of waiting period which allow me to claim if there is any illness during the 120 days. However when I check with the customer service they claim the offer have expire and any upgrade will be subjected to the waiting period.I am not sure which to believe in.
IM A NEW AGENT FROM SEREMBAN. IM WORKING FOR GREAT EASTERN. PLS GIVE SOME IDEAS ON HOW TO PROMOTE MYSELF TO THE PUBLIC. TQ.
Hi Mr Lau,
I want to buy education plan for my daughter, the fund should be almost sufficient for her to do medicine in uk. She is 9 yrs old now. Please suggest good policy for her. aAt the moment i have 2 insurance for her under great eastern. Please advice me.
Hi there Christina Robert,
Good thing that you already have 2 policies for your daughter.. Thats a pretty good headstart. For most cases Id highly recommend GJA (does any of your 2 policies consist of GJA already?), especially on kids, the younger the better.. You pay the premium for first 10 years and after that GE will pay you a certain amount until youre 80+ year old. Hows that for a savings plan.
However, for your case you needed an education plan, Im willing to help you on this, but Ill need your figures (budget, and estimated study cost).. You can a href=http://www.mckeycheong.com/contact-me rel=nofollowcontact me/a here and Ill get in touch with you within 2 days!
HI KC,
I have a question about GE IL-HP150 plan. Can you advice me what is the co-insurance term of this plan? How much is the co-insurance?
Thanks.
ILHP is no longer available to new customer. It doesn’t have the co-insurance condition, meaning you can claim almost 100% of the medical bill.
Hi, I’ve signed up for an ILP with Great Eastern with its Smart Medic as the medical rider.
I just found out that it’s yearly renewable. I’ve heard of people not being able to renew their medical cards after they’ve made a claim. Will this happen with Smart Medic? I’m very worried that I might lose the medical coverage in the future. Please advice.
Smart Medic is guaranteed renewable.