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I saw this Facebook post the other day and I felt it is  one of the most common misconception about insurance. The Eldershield is meant for old age but the pool is young and so the claims are low. However, an insurance product should not be judge based on cash flows but based on its liability. For instance, you are 40 years old and if the claim is expected to occur at 70 and ends at 80 and … [Read more...]

Question: My adviser advised me not to include the premium waiver due to high cost. What do you think? Answer: Premium waivers are riders attached to a life policy so that upon certain insured event happening, the premium of the remaining premium period is waived. And yes, premium waivers are generally expensive. The premium waiver is actually a decreasing term. Here is an example to … [Read more...]

Know which ward/hospital you are entitled to Before your hospital admission, find out which hospital and ward your integrated shield plan is meant for. What you want to know is whether your integrated shield is meant for private or government hospitals. If your entitlement is government hospital, find out whether the policy is meant for “A” class, “B1”, “B2” or “C”. There is no such thing as … [Read more...]

With effect from 1 May 2017, PRUshield Extra A Premier pricing will be change to a highly complicated method that is related to the amount and the type of hospitals customers will be claiming from. Basically, there will be a whopping 7 pricing points. You go up and down the pricing points like climbing up and down from a ladder. The pricing points are (in increasing amount): Pruwell … [Read more...]