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 All these years, some insurance products had been withdrawn and no longer available to the market.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 policyholder age 30, male to illustrate how much benefit he can get for paying RM3000/year premium (except for some saving plans, the minimum premium would be higher than RM3000). Please take notes that all the future saving projected are not guaranteed, unless it is mentioned below.
Investment-linked Products
1) Smart Protect Essential Insurance 2
Description: Regular premium investment-linked policy.
Example Benefits:
Death Benefit RM45k,
Critical Illness RM45k and waive premium,
TPD (Total and Permanent Disability) RM45k plus waive premium,
Health Card Room & Board (R&B) RM180, annual limit: RM100k, lifetime limit: RM2 million,
Savings value: approximately RM60k at age 55.
Attractive points:
Cashless health Card, no co-insurance, high lifetime limit,10% increase to the R&B and annual limit every 3 years if no claim
The main reason you should purchase this policy: Protect your existing wealth and also your future earning ability.
2) Smart Invest Premier Insurance 2
Description: Regular premium investment-linked policy. For Saving and Retirement Purpose
Example Benefits (Min annual investment: RM6000/annum):
Death Benefit RM10k,
TPD (Total and Permanent Disability) RM10k and waive premium,
Critical illness: Waive premium until age 99
saving value: approximately RM300k at age 55.
Attractive points:
- High allocation for investment, hence higher savings
- Prudent past performance.
The main reason you should purchase this policy: Protect your investment power and savings for retirement.
Traditional Products (Protection)
1) Great Ideal Living
Description: Regular premium living assurance whole life policy with participating in profits.
Example Benefits:
Death Benefit = TPD benefit = Critical Illness benefit of RM86,207,
Saving value: RM121k at age 55.
Attractive points:
- Guaranteed increase of Sum assured,
- guaranteed premium,
- Option to buy another policy after critical illness claim paid (for standard life)
Very few plan in the market offer increasing critical illness protection, this is the major selling point in this plan.
The main reason you should purchase this policy : Protect your existing wealth and also your future earning ability. Can treat as alternative to FD in long term as the return is very steady too.
2) Great Maxi Protector
Description: Regular premium whole-life non-participating policy.
Example Benefits:
Death Benefit = TPD Benefit – RM284,630,
saving value: RM85,389 at age 55 (surrender value guaranteed).
Attractive Points:
- Low premium high protection,
- cash value guaranteed
The main reason you should purchase this policy: Funding your living trust, liability cancellation
Traditional Products (Endowment)
1) Great Income Plan
Description: Regular premium saving plan with immediate participation in profit
Example Benefits (Min annual saving of RM4447.60, guaranteed saving term 10 years):
Death Benefit = TPD benefit of RM20,000,
Saving value: RM108,000 at age 55.
Attractive points:
- Short saving term,
- can opt to receive annual income at the end of year 2.
- Provide income until age 70
The main reason you should purchase this policy: Protect your investment power and savings for retirement,
Can be treated as an annuity plan during retirement, it is a saving vehicle to ensure discipline saving and spending.
2) Great EduScholar
Description: Education endowment premium plan with immediate participation in profit
Example Benefits (RM3000 annual saving for 17 years, assume child age is 1 year old):
Death Benefit = TPD benefit of RM23,000
Saving value: RM82,000 at maturity (age 22).
Attractive points:
The irresistible attractive point of this plan is guaranteed offer of FULL SCHOLARSHIP by Great Eastern should your child successfully being accepted to enter the world TOP 5 universities. This will save you at least RM1 million.
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. If you are keen to find out whether Investment link or traditional plan suits you better, you can refer to my earlier post Difference Between Investment Link Plan and Traditional Plan.
This post update is contributed by Mandy Hiew, my co-author of the book Money Tips for Doctors. Contact us for insurance planning consultation if you wish.
197 replies to "Best Products from Great Eastern Life Insurance Malaysia"
Hi Mr KC, I am currently planning to sign up for a life insurance to maximise my tax relief. My friend is recommending Great Eastern Flexi Plus. May I know what is you take on it or do you have a better policy in mind? Thank you.
That depends on your need and the tax relief that you can maximise.
Generally, investment-linked policy is a good product for protection that you can include medical card.
Hi there !
I have few question to be ask from you. My MIL currently has two policy from Great Eastern (SmartProtect Essential Insurance 2 & Supreme LivingCare Plus). However, we decided to withdraw one of the policy since we only want to focus in one policy. I would like to ask for your opinion about this 2 policy. Which one should we withdrawn and which one is the best option for her? Currently my MIL is 50 years old. Appreciate your revert on this.
Thanks!
The SPE is probably has medical card attached? If yes, H&S coverage is the most important at old age.
Hi can I cancel my policy while I m still in waiting period ? I already paid 3 month. Can I get back my money ?
If mistaken, you have a free-look period of 15 days after receiving the physical policy book.
When the agent delivers the policy hardcopy to you, you are required to signed the proof of receipt. Starting from that day, you have 15 days to return the policy and request for full money back.
I am looking for term insurance that can give me guarantee cash refund upon maturity.
My budget is annual premium RM2000.
Reason that I look for guarantee cash refund is I prioritise saving more than protection.
Insurance product gives me 21% tax relief.
I have an investment link policy from AIA currently. Considering getting a traditional medical plan for myself to maximum my medical protection, any recommendation?
You can email me with your contact details. I will refer a licensed financial advisor to assist you.
Hi KC Lau,
Have you come across about Great Flexi Wealth? I am just wonder how could GE generate so much fixed money return, which is up to 17%
If you know the time value of money calculation, the return is not 17%.
Hi KCLau.
Do you think subscribing to SmartProtectMax (SPM) is a good investment return for a long term for my retirement? Please advice. I am torn between injecting my money to GE SPM product or should i just go for CWA product. Need your professional opinion.
Thanks
Hi,
Any advice on which plan for critical illness? looking for coverage from 500k and above. Main purpose is jsut to lessen family burden in case of the unfortunate.
42yo, non smoker, office worker.
Investment-linked protection type will be suitable.
Hi Mr KCLau,
I would like to know more on the insurance for baby.
Can you help to give me some advices. Thanks.
Hi Leow,
If you are comfortable to talk with one of my trusted associates, please send a support ticket here: https://kclau.rhinosupport.com/
Kindly provide your mobile number and location.
more info about great eastern special promotion
Male, 40yrs old. I plan to get a 500K – 1mil protection. What is your recommendation? What is the premium for 20yrs SmartProtectMax?
Hi Gozero, please email me to get my associates to assist you in this case.
20 year Endownment policy maturing next week.
Can the insured purchase another policy without evidence of insurability?
Please reply
Thank you
jennifer
According to my limited knowledge, policy maturity doesn’t provide you any privilege to get insured without going through the process of underwriting. But there is no harm asking your agent or the insurance company.
I hold a 25 yrs lion endowment with compound reversionary bonus since January 1994 and will be matured on January 1st 2019 (25yrs). I would love to know what is the value upon the maturity date. Who should I contact? I still paying the premium until today never miss. I’m paying 1200 per annual.
Hi Nora, the best way to know how much the maturity value, is to contact Great Eastern directly. You can call in to ask, or write in an email. You can find the contact details on their website.
Hi Kc,
I have a Investment plan from Great Eastern. I bought the plan 13 years ago.The R & B is only RM100.00 When i want to upgrade the agent said this plan cant upgrade unless i purchase a new plan Smart Medic Extra.I wanted to ask u. If i purchase Prudential medical card then use for hospital bills can i still claim for critical illness in my Great Eastern old policy if i have critical illness.
Please advice. thanks.
Hi Rita,
For critical illness claim, you can make claims from all your policies, from different or same companies. Because it is not paid based on your hospital bills, but based on the doctor’s report and certification that someone is indeed suffering from one of the critical illnesses.
For your case, you can still upgrade with GE using your existing investment-linked policy – just take away the old card, and add the new Smart Medic. This way, you only pay commission for the extra premium incurred. But your existing premium amount will be fully allocated to buy investment fund units.
Hi KC,
I would like to ask, if I got a policy which I already paid premium for 20 years now, it has accumulated quite an amount, should I continue pay the premium or withdraw with the high surrender amount or waited and pay as usual for even higher payout after another 5 years.
That depends on how good you are at investing that money. For example, if you can use the premium say RM5000 to invest in stocks and get 15% return, logically you should invest on your own. In another case, say you won’t be doing much with that premium RM5000 and just leave it in FD for 3%, then it gives better return to pay insurance premium because GE is currently paying 5% return for cash value parked with them.
Hi KC,
I would like to ask about the Smart Protect Essential Insurance 2.
i am 25 years old and decided to pay rm3k per year.
1. minimum years to buy?
2. what benefits that i can have once reach the minimum years to buy it.
Thanks a lot
Hi Yong,
It is best to speak to an insurance agent or financial planners to assess your risk and plan accordingly. If you wish to speak with one of my associates, please email me with your mobile number.
Hi KC,
Great Eastern ,Prudential,AIA these bigger three in malaysia
which company offer better medical card?
Great Eastern looks like no cover the heart cardiac pacemaker right?
I didn’t compare everyone. There are always give and take when you compare the products. And the products also keep changing. Every few years, the companies will modify their products to suit the current competition and clients’ need. So sorry that I can’t give you any specific advice on this matter.
To get the best and probably the most suitable products, do ask the agents when is their latest medical card being introduced and what’s their unique advantage. Then you can narrow down the options.
Dear Mr.KC Lau,
I just do comparison btween Prud vs AIA.
Prud-annual limit:60k,lifetime limit:600k
AIA-annual limit:100k,lifetime limit:unlimited
Can u suggest me which one more better;medical card alone or medical+saving. As medical only the monthly contribution is not fixed. I actually prefer to medical only based on my needs but agent advice me medical+savings. Please assist.
Thanks
Hi Siti, if you can afford the medical card bundled in an investment-linked policy, that will be a better choice. The reasons:
– it is not easy to lapse. Because your ILP policy will have value to cover the medical card insurance charges whenever you stop paying premium for a few months. But standalone medical card won’t have that safeguard.
– usually the insurance charges is lower if it is bundled in ILP
– ILP is also more flexible so when you want to upgrade to the latest medical card offer, the insurance company usually won’t recount the waiting period.
Hi Mr.KC Lau, please advise me which plan should I go with Great Eastern.
My current health status is 30 yrs old female, non smoker, with excellent health. Working in private sector with office environtment.
I wish to have a plan that combines below requirement:
1) Health and Hospitalization plan until retirement (at age 55 years old)
2) Investment Plan until retirement (at age 55 years old)
3) Covers critical illness/ womens illness
4) Covers outpatient claims
5) Equipped with medical card
6) Costs around RM 2400 per year
Appreciate your fast response 🙂
ILP is the appropriate plan that is cost effective in your case.
If you want to talk to one of my trusted associate for proposal, kindly email me with your mobile number and location.
Hi KC,
i would like to know more about GE Bancassurance ‘Maxincome Booster plan’ offer by OCBC, is this plan good investment policy compared to other GE products ?
Hi Mel, I am not sure about that. You can get the quotations and compare.
Hi, I’m Keith & working for Great Eastern Life Assurance, if you’re looking into some solutions to insurance. Feel free to whatsapp/call 016 332 3290. I look forward to assist you.
A life insurance proposal has been received by the life officer for assessment. Briefly describe each condition and your assessment on the information revealed. If required, what further evidence would you seek and why?
1. Lisa age 42, paralysed as a result of motorbike accident 5 years ago. She is proposing for RM250,000 endowment policy.
2. Rita is a 30 year old doctor, married with 2 children. She has a history of pulmonary tuberculosis 7 years ago. She contracted the disease while serving as a volunteer in Acheh, Indonesia. She is proposing for RM200,000 endowment insurance.
According to the 2 situation above, can Lisa and Rita proposal being accept or decline?
Hi Jennie, these questions are best asked to the underwriters of insurance companies. Each companies might also have slightly difference guideline when ti comes to underwriting. I am not sure of the outcome Lisa and Rita might get from each life insurance companies.
Hi Mr. Ragu, you can also email me at priya_m.lingam@yahoo.com as I’m also affiliated with GE. I can send help you with quotation and further details.
Tq 🙂
Hi KC Lau,
I’m 37 years old, none smoker & class 1. I wish to get an life policy & concentrate more on coverage rather than savings as below:
Life: 500k (with TPD)
PA: 500K
Critical illness: 300k
Medical card: 150 limit per annum
Pls advice how much the premium will be, thanks.
Hi Ragu,
Kindly email me using the “contact” form or “support” ticket so I can get my associate to contact you for more details.
Hi KC Lau. Am interested in getting a medical card considering its a must. Bought life insurance many years ago but without medical card. Now my preference a low life with TPD, CI and Medical card with not investment link Am 44 years old and not smoking. Which company offer the best package? appreciate can PM me. Thanks
Hi Phal, I am Ivy, agent from Great Eastern company Malaysia.
Knowing that you are looking for a medical coverage for yourself. Can I know which area are you staying? Or maybe we should have a meet to have an open discussion regarding your medical plan. Hope to hear from you very soon.
Hi KC,
Appreciate much if you could help on this question.
Can the Transforaminal Lumbar Interbody Fusion cost (including the implants-screw) be claimed under GE SPEI2 plan? seems like nobody can answer this question.
Hi, is that Smart Medic Extra is guarantee renewal? As I see from the quotation from agent has a clause “portfolio withdrawal”. Is that premium will increase if my age getting older or make any claim from critical illness?
Hi KC,
For Smart Protect Essential Insurance 2, may I know when the term ‘no co-insurance’ started?
I have this ILP since Dec 2012. My agent didn’t update me about this.
when I undergone GERD operation in hospital, I have to pay all fee at first due to policy still under one year, R&B in my policy is RM 150.
@TPL, it depends on what is the medical rider attached to your Smart Protect Essentials.
It is most like Smart Medic – that has co-insurance.
Hello,
my age is 45, if i only want to cover life for RM300k ,what plan is suitable for me, and cost how much? non-smoker
For the cheapest life-covered plan, depending on how long you want to get covered, Investment-linked plan is something you can look at – very cost effective.
Hi KC,
I would like to buy a standalone medical card for my dad. he is 62 year old this year. May I know any plan provided? Thank you.
Hi June,
Normally medical card is only available to those under age 60.
But I think there are a few plans that is available to senior citizen. You can check with any Licensed Financial Planner that has financial advisory license to deal with multiple insurance companies. I personally don’t have access to that.
I. am a financial planner from Great Eastern in KL/Selangor.
May I have your contact number so I can explain to you the plan that you are looking for
or you can email your personal contact at osphotic@gmail.com
Thank you and regards,
Andrew
Read More https://kclau.com/insurance/best-products-from-great-eastern-life-insurance-malaysia/
I would like to know more about these two plans from GE:
1. Great Eastern Living Pay Scheme
2. Great Eastern Living Pay Plus Scheme
Thanks.
Hi Jeremy,
Im Ivy, agent from Great Eastern insurance company Malaysia.
Knowing that you are interest regarding our plan that offered.
Can I know which are are you staying? Or maybe we can have a meet to have an open discussion for the plans. Hope to hear from you soon.
Greetings..I’m 30 yo guy. non smoker. non drinker.
I’m looking for medical card with high coverage and sum assured including all critical illness. My budget is min 4k/yr & max 6k/yr. Pls advise.
@Saravan, I have sent you a personal email.
Hi Mr.Saravanan, I’m sure Mr.Lau has sent you a quotation in regards to your query. If you’re also interested in comparing with other insurance company, pls don’t hesitate to contact me. Good day to you 🙂
Hi,
I would like to take up an Education policy for my daughter.
She will be 3 this year.
Pls advice which is the best policy that is offered by insurance company in Malaysia at present.
Regards,
Somi
@Somi,
It is hard to say which policy is the best. It is very subjective because each policy gives slightly better feature in different area. I suggest that you talk to a financial adviser to have some policy comparison done.
How can I claim if I would like to get doctor consult and later surgery at Singapore? I need to pay first or just shown them the medical card?
@Shirley, it couldn’t be cashless if you own a Malaysia medical card.
Dear Mr Lau,
I have a question which I seek your assistance.
I have insured my children when they were small. Due to financial crisis I have stop. Will there be any amount which will be return to them upon their maturity. I am unable to contact the person whom I dealt with.
Hi Khairun, if you stop payment of premium, the insurance company will use your policy cash value to pay insurance charges. When all cash value is used up, it will lapse. So regarding your question, there might be some value upon maturity if you’ve paid the policies long enough (at least 7 years and above, depending on the type of policies).
If the cash value is already used up, the policy can’t sustain and there will be nothing left for the children.
I am a financial planner from Great Eastern in KL/Selangor.
May I have your contact number so I can explain to you the plan that you are looking for
or you can email your personal contact at osphotic@gmail.com
Thank you and regards,
Andrew…
Hi there.
I am wondering if it is possible for a Singaporean to purchase life insurance products in Malaysia, even if they are not working (only visitor) or staying there (no Malaysian house or property)?
If yes, are they covered worldwide?
And also,are they restricted from purchasing certain types of policies? Example medical, term, critical illnesses etc.
Thanks.
@Peter Wee, most insurance companies underwrite insurance application of Singaporeans as if they are Malaysians. For more information, it is recommended that you ask directly to the insurance companies’ representatives.
[…] Best Products from Great Eastern Life Insurance Malaysia […]
Hello,
Sir, I hold an endowment policy from Great Easrtern and will mature in another 4 yrs time. I would like to know that if instead of taking the sum insured can I renew the said policy for a further say 5 yrs maybe.
Being a single mother and with my low income I want something that can save me some money with paying a low premium too.
Actually looking for a part time job but also checking if this can work, I mean renewing the policy.
hi there,
i would like to find is there a product of insurance which cover an endownment and medical.but more to any endownment plan.with a low premium?
Medical plan (if you are talking about H&S hospitalization and surgical benefit) can be a rider that’s attached to an saving policy.
Please email your contact to insurance@kclau.com to schedule an appointment with one of my trusted associates.
Thanks
I am looking for a medical card policy + investment. Please recommend a policy.
I did met some of great eastern agents but the clarity are not good in expalaning. My annual budget is RM 5000.0. My priorities medical + savings. My age 41, engineer.
What would be the best to gain the maximum of the benefit?
Selva
NO CO-INSURANCE WITH PRUDENTIAL LATEST MEDICAL CARD – PRUFLEXI MED
OVERVIEW OF PRU FLEXI MED
1. What is PRUflexi med? (updated 20/02/2012)
PRUflexi med is a comprehensive medical plan that allows customers to customize the benefits to their individual needs and budget. It is a regular premium investment-linked medical rider that reimburses medical expenses incurred in the event of hospitalization that comes with the following features:
• 112 combinations to choose from – PRUflexi med gives you the flexibility to choose your preferred level of coverage. Pick from 7 Hospital Daily Room & Board Allowance and 16 Annual Limits options, then create a plan to suit your needs and budget!
• Hospital Daily Room & Board Allowance – If you are staying in a room & board that is lower than your chosen Hospital Daily Room & Board Allowance, we will pay you the difference in cash as an allowance. What’s more, this benefit will not reduce your Annual Limit!
• No more BILL SHOCK! – You can choose the ZERO deductible option and need not share out on eligible cost when you are hospitalized! You can also opt for a PRUflexi med plan with a minimal fixed deductible of RM300 for lower premium.
• High Lifetime Limit at 20 x Annual Limit – PRUflexi med lets you claim up to 20 times your Annual Limit per lifetime.
2. What are the basic plans that can attach PRUflexi med? (updated 20/02/2012)
PRUflexi med is attachable as a new medical plan or second medical plan on PRUlink one and
PRUlife ready.
Attachment to previous versions of investment link plans (4PAA, 5PAP, 6PAP, 7PAP) will be available at a later date, which is to be advised. The rider is currently not available in juvenile plans, traditional policies, ULP and bancassurance policies until further notice.
3. How do we select PRUflexi med benefits? (updated 20/02/2012)
Customizing PRUflexi med to your customer’s need is as easy as 1, 2, 3 & 4!
Step 1: Decide on your Hospital Daily Room & Board Allowance amount.
Choose the amount of Hospital Daily Room & Board Allowance to cover for your accommodation in a hospital.
Step 2: Decide on your Annual Limit amount.
Set the amount of Annual Limit which you will be covered for every year. This is the maximum amount of total costs of eligible benefits (excluding the cost of daily room &
board) that will be paid by Prudential every year for your hospitalisation and surgery bills.
Step 3: Decide on your Deductible amount.
Choose the amount of deductible that suits your preference – zero or RM300 deductible.
Step 4: Decide on your benefit term.
Choose the age to which you would like to be covered until from a choice of 70, 80, 90 or 100 years old.
Interested? Kindly email me at panama_09@yahoo.com
Hi… I am a 30 year old male, looking for my family (wife(32)son(4)son(0)),insurance policy and investment for their future benefit or usage. Any advise for my future planning.
Hi Sara,
How much is your budget? If your budget is below rm 1500 (yearly), you can go for GMC 2 with 360k protection whole life.
For further detail, you can contact me at annie_smiley2000@hotmail.com
Thank you.
Hi Eddy,
For your case, I would like to advise you to go for ILP for your wife and son protection. the early you buy for them the cheaper the premium for yearly.
Please contact me at annie_smiley2000@hotmail.com for further detail.
Thank you.
Hi.. I am a 44 year old female, looking to get myself a Medical Card…(better late than never) I’ve had GE’s Life Insurance since 1994. Would appreciate your advise. Thanking you in advance.
Hi,
I am 34 years old. Married with no children. A healthy non-smoking female. I am doing my annual medical check-up every year. I am looking for a insurance that will protect my future earning ability, medical and savings. What insurance would you recommend with the annual premium of RM2000 that fits my age group and profile?
Looking forward for your reply.
Thank you.
Hi Sam Yeoh,
If this is the first policy you buy, I would recommend to have a combination of Investment-linked protection plan plus a traditional 36 critical illness plan.
Contact me at insurance@kclau.com for further discussion.
hi sir,
i need to know , can i take a insurance if i had a pacmaker to treat my slow heart beat.
Hi Segaran,
The insurance company underwriters will request info from your attending doctor to make decision. You can try to apply to see what is the result.
can you suggest any policy that can offer the highest protection for a long term but with a low premium.Do the supreme care is just the only policy from great eastern that can offer this criteria??
thank you
Hi,
Get high protection payout for beneficiary and cheap premium. Go Google search website and look for Term Insurance ..
Have a great day.
Then, talk to insurance agents A, B, C, D ..etc and request many information
about term insurance plan.. ( either term level or yearly renewable ) .. Cheap, non-forced saving, no investment plan and do not require ALL-IN-ONE-PACKAGE.
For male age 30 years old ( non- smoker / drinker ), level term insurance plan for 25 years old for RM300K plan ( c/w 36 critical illness ) cost less than RM1K yearly.
For yearly renewable term insurance plan for RM300K plan ( c/w 36 critical illness ) , it cost about RM 250 .. As the age increase (mortality risk) yearly, the yearly premium will increase accordingly too. BUT still very cheap compared to ALL-IN-ONE-PACKAGE.
Have a great day.
ht tp : //en.wikipedia.org/wiki/Term_life_insurance
ht tp://www.smartmoney.com/personal-finance/insurance/term-or-whole-life-8011/
May choose to have protection at your own needs. Protection plan at 2 years, 5 years, 12 years, 18 years, 22 years, 30 years ..etc
I like yearly renewable term insurance plan which is very attractive & cheap. Level Term insurance plan is fixed premium cost for number of years protection.
have a great day.
Muz be understand ur current age 1st. can be pm me to my email address. i will do a summary for u. thx
No,if u need Highest protection low premium ,u can choose our new product Smart Portfolio.
u must let them know your age , Occupation , and etc . they will calculation the best price for u. U also can contact me at Facebook. THX..
So is Elite Builder a recommended product? Shall I go for 20 years or the shortest 8 years?
It is an effective saving product.
Hi Sir,
I would like to understand more about the Great Eastern New Product, which this product that I newly heard – is a saving plan (not very sure the plan name), is this same as Unit Trust? have this capitaland?
Kit,
I think you are talking about the plan – Elite Builder. It is an endowment saving plan, not similar to unit trust.
Hi Sir,
I would like you advice on how much i should go for an Insurance Policy which gives me return at the same time also covers (Life,Medical, Investment, endow). My age is 25 do you think getting a (400-600Monthly) policy is good ? where else looking a return at the age of 40. Well i need your advice on this.
hi…i’m looking for a savers plan for 5 or 8 years. Is there a savers plan that i can withdraw my money with returns at the end of year 5 or 8.
I have an MAA Medivise plan.
I have heard horror stories about such plans, where the insurance companies refuse to renew the following year if there’s a claim a previous year or they find technicalities not to honor the claim, reason being group insurances have the lowest value to them.
I am worried as my H&S is covered by this, while I have an investment plan separately with GE.
Any advice will be helpful, should I terminate the group and take up a medical card with GE instead?
If possible, have an individual medical card coverage as a backup.
Hi
I heard that GE policy getting better (cancer/kidney treatment no longer limited). I would like to know more about this product. Mind to share?
products are modified from time to time to be more competitive. Send me an email requesting the info, I will reply with relevant info.
hi KC
Pls advice for hse mrta if buy with bank it will be burn by the end of period but what if i take with insurance company, what coverage do you suggest, and which company sld I go for? pls advice!
thanks
sheila
Hi Sheila,
It is more flexible if you get insured with personal life insurance plan.
The plan you can consider is whole-life non-participating plan and investment-linked policy.
Hi,
Just stumbled upon your site. I recently heard that for GE insurance, the older one gets, the higher premium they have to pay, not talking about getting a new insurance policy. As in already having one. is this true?
Also, I understand that with a GE insurance, when hospitalised, one cannot upgrade their room (not even if the policy holder is willing to pay the difference of the room rates). Is this true as well?
Thanks.
I think you are referring to the medical card (hospitalization and surgical benefit).
The premium does increase according to age.
When policyholder upgrade room that cost more than the coverage, the co-pay will increase and no maximum cap.
Hi,
I would like to know more about GreatLife Essential Lady and how much need to pay each month.???
Thank you…
Hi Mrs. Jay,
You can contact me at insurance@kclau.com
Please provide the following details:
date of birth:
occupation:
where do you stay?
I will get back to you.
Hi,
II would like to know more about GreatLife Essential Lady and how much need to pay each month too..?
Thank you…
Hi,
I plan to allocate RM200/mth on my insurance. Currently I do not have any. However, my company do cover me on life and medical insurance. What policy would you suggest to me from Great Eastern?
Thank you.
Hi PJ,
It depends on your need to propose the suitable plan.
Please email the following information to me at insurance@kclau.com
Name:
Contact No:
Date of birth:
Occupation:
I will get a trust worthy agent to have a discussion with you.
HI…
I hv 2 children..i need medical card for them n my self wt no limit..hw much?n what type coverage u can offer me.thks…please advice..
Hi!
I am 29 yrs old, non smoker and looking for a medical and savings plan..Can I also but a medical plan for my 63 yrs old dad..please assist me..
Hi Chi En,
Where do you stay? I can refer an agent from my team to discuss with you.
Hi, what is the best savings plan without any medical coverage for my son age 9. What will the min premium be & what will the return be?
2. Is there any package for mum & child? what is the min premium & for how long?
Thanks.
Hi Nita,
You can basically get a plan for education savings with premium as low as RM100/month.
There are two major choices – investment-linked and traditional endowment.
For something safe, choose endowment. For potential higher return with higher risk involved, choose investment-linked.
I want to buy a medical insurance for my son age 2 months old…Ive been thought that Great Eastern Medical Health Insurance got 10% co-insurance that policyholder need to pay if warded…is it true? please advise…
Yes. Now all the medical plans from GE got co-pay. Those without are no longer available. But policyholder who bought it earlier can still renew.
Hi,
As I was told that medical card premium will increase by age bracket no matter it is newly purchase or an old one.If the medical card i buy during the age of 23 (currently 28), when it is being renewed, the premium will increase rite? The price range of the premium will it be based on the current medical card age bracket or the price based on the old age bracket range?
it depends on your current age .. the older you get, the higher you pay for medical card premium.
Hi KC,
Does GE still sell GJA? How different does it compare to Allianz PowerWealth? I was recently approached by Allianz agent who quote me 20k a year for 8 years. The guranteed annual payment is 5% sum assured starting 9th year till 90 years old.
Can I cash out 90% of the accumulated paid premium like my own saving 20 years later without invoking loan interest from the insurance company as the agent claimed?
I m female non smoker. Thanks.
I would say these plans are very similar. It doesnt make much difference buying from either company.
If you intend to cash out 20 years later, there are two way
1. Surrender the policy –
2 policy loan – this will incur interest
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.
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.
you said : “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.” than how about ILSM ? is it the co-insurance ? what the different between ILHP & ILSM ?
ILSM got co-insurance but higher limit.
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!
IM A NEW AGENT FROM SEREMBAN. IM WORKING FOR GREAT EASTERN. PLS GIVE SOME IDEAS ON HOW TO PROMOTE MYSELF TO THE PUBLIC. TQ.
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.
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?
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.
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 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 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 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.
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 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, 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 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.
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?
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.
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.
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.
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.
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 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.
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.
can u explain on new product of great eastern ‘great multi cash’ ?
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.
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 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
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
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.
Greetings KCLau,
I’m looking for similar plan. pls advise
Hi Saravanan, You can refer to Prulink Million introduce by Prudential. Please provide me ur DOB, smoking status, and occupation at my email just4tmcat@gmail.com. I can advice you in this area if you want to have such a coverage and will give you a total financial planning advice. Thanks
Hi Saravanan, I can quota you a quotation, Great Eastern Smart Protect Essential can Fulfill your needs. Please send me your date of birthday, smoker or not and your occupation to joanyap0926@gmail.com. I do a plan for your reference. Thanks and have a nice day.
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.
Do you have latest Great Medicare product? kindly email to 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.
Can you share with me the H&S Plan with 4 different packages? U can email to my mailbox lckhor@yahoo.com Thanks
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.
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.
Prudential’s limit is as charged subject to annual limit and lifetime limit with our latest med card PRUflexi Med
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.
U can check PRUguard my family from Pudential or email me and i’ll send u the brochure panama_09@yahoo.com
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