Foong May Hoong (0908486)Lai Chun Huang (0906274)Lee Min Chong (0907036)

- Tutorial 7

Do comparative analysis of different local life insurance products

Do comparative analysis of different local medical insurance products

Check their purpose Check their benefit

Internet source◦ Location of insurance company◦ Discussion about insurance products

AIA at Menara Axis, Section 51a, PJ Chartis at Jaya One, Section 13, PJ Prudential at Jaya 33, Section 14, PJ

Life Insurance

helps to support your standard of living during your younger days and build foundation for future of your family.

helps to supplement your retirement income, providing you with the financial freedom when it matters most after retirement.

Features:-◦ Pay for 10 years◦ Enjoy 4% guaranteed bonus return (from total assured) starting 

from 11th years onwards until age 88◦ Enjoy dividend benefit depend on the company's investment

return ◦ Free life insurance◦ Death benefit of 130% of initial sum assured for 10 or more

policy years◦ Including premium waiver◦ Plan can be continue up to 3 generation◦ You, your son(bonus every month) and grandchildren (lump

sum)◦ Maturity benefit is 130% initial sum assured

simple yet effective Personal Accident Plan consisting of fantastic winning feature that give

you protection every minute of the day. provides compensation in the event of injuries,

disability or death caused by a sudden and unforeseen accident.

Features:-◦ The premium and benefits are according to respective

occupation class◦ Enjoy lifetime coverage when policy is renewed yearly◦ Plan cover 24/7/365 worldwide◦ Total permanent disablement with 50% more than principal

sum assured of accidental death benefit.◦ Renewal bonus of 10% per policy year, up to 50% of

principal sum assured of accidental death benefit.

Features:-◦ Entry age up to 75 years old.◦ Discounted premium for non-motor cyclists.◦ Benefit for death due to dengue fever.◦ Personal liability up to RM100,000.◦ Kidnap benefit up to RM25,000.

Purchase of prosthesis / wheelchair up to RM1,000. Benefit for death or injury resulting from terrorism.

provides life protection and investment by customizing your plan for every stage of your life

Can choose from a range of add-on covers to suit your budget and prevailing needs.

Features:-◦ Complete protection and flexibility for every stage of

your life (single > married > parents > retirement)◦ Enhance your plan with new and extended range of

covers.◦ Diversify your investment opportunities

Medical Insurance

ExcelCare Plus - provides for hospitalization and surgical expenses incurred which sometimes can dry up your saving

Features:-◦ ExcelCare Plus

A choice of medical reimbursement lifetime limit ranging from RM200,000 to as high as RM700,00

24-hour protection Lifelong protection to age 100 Zero co-insurance for claims within a specified amount Lower rates via the Family Plan Hassle-free assistance in your admission to the hospital via AIA

Health Services Worldwide coverage

helps protect you with lump sum cash, and the funds can be used for medical and everyday expenses during recovery

provides compensation if you are diagnosed to be suffering from a critical illness for the first time

provides a Second Opinion benefit. Features:-

◦ Entry age up to 61 years old.◦ Flexibility of choosing your preferred healthcare

provider◦ Privileged access to medical advice from world-class

doctor with Tele-Medicine Access

reimburses major medical expenses incurred in the event of hospitalization, surgery or outpatient treatment.

Features:-◦ No Claims Bonus (NCB) for those who do not

make any claims for the year.◦ Comprehensive coverage for hospitalization and

surgery bills◦ Option to waive the annual claims limit◦ Able to choose the plan that suit your budget◦ Coverage of up to age 100

Highlighted features

AIA’s Guaranteed Income Provider (GIP) saving plan

GIP is a very attractive saving plan. Just have a look at the example on the next slide.

(Total Sum Assured = RM 100 000)A 30- year-old owner purchases GIP from AIAHe/she pays for 10 years premiumWhen the owner 41 years old, he/she gets 4% bonus payout = RM 4000Get until age 80 (up to age 88) 4000 x 40 = RM 160000

The owner decide to transfer ownership to his son (age 40 years) His son can continue enjoy 4% bonus until age 75 4000 x 35 = RM 140 000(the saved money keep growing with 4% interest + yearly dividend)

The grandson is the nominees will get the lump sums of money. Estimated value is RM 500 000 and above (can reach million)

So, for a payment of 10 year for amount of RM 100 000, you and family will enjoy estimated value of RM 160 000 + RM 140 000 + RM 500 000 = RM 800 000