Life Insurance.. Which one is better

[zamtresco]

Hi,By your experience, which is a better insurance company? Myself, i have been with prudential for 7 years. So far, the service is so-so only... How about you?

 

[bmw7833]

Try me. Great Eastern Life..:4:

 

[ICEMAN 68]

ya me too on prudential ...their customer service at times is very slow ... not to mention the agent ...macam macam cerita ..

company on ING ...and so far so good ...

 

[mizhan]

me stuck with Prudential too... i heard good things from people on Great Eastern.

 

[zamtresco]

how about AIA... i heard they are quite good too

 

[Vincent Hor]

I am with Allianz Life. So far my customers are quite happy with the customer service and claims department.

 

[LiteBulb]

IMO, prudential, they are not very professional. more to a salesperson rather than a consultant. they tend to push you things they sell rather than what you need. so far, prudential is the only company that sells via phone. definitely die die also i wont go prudential cause they annoy the hell out of me.

 

[Crymson]

There is no better insurance company. What you need is to find a company that is financially solid (all insurance company in Malaysia are), good claim procedures and good after sales service from the company whether the agent is still with the company or not. The famous names like AIA, ING, GE, Allianz, HL, etc are good enough. I would agree on some of the forummers comment on Pru though. But Zamtresco if you are a muslim, it's better that you take Takaful instead and there are now many Family Takaful operators offering Takaful. I used to be with AIA in providing protection needs for my client, now I'm an independent Shariah Financial Planner providing any of the Takaful that best suit my client's need.

 

[zamtresco]

There is no better insurance company. What you need is to find a company that is financially solid (all insurance company in Malaysia are), good claim procedures and good after sales service from the company whether the agent is still with the company or not. The famous names like AIA, ING, GE, Allianz, HL, etc are good enough. I would agree on some of the forummers comment on Pru though. But Zamtresco if you are a muslim, it's better that you take Takaful instead and there are now many Family Takaful operators offering Takaful. I used to be with AIA in providing protection needs for my client, now I'm an independent Shariah Financial Planner providing any of the Takaful that best suit my client's need.

Hi Crymson,

Care to share more about Takaful and why it is recc for muslim?

regards,
Zam

 

[bmw7833]

Most of the life ins company now have the Takaful license, nothing special.

 

[loafer]

For those who aren't familiar with Takaful concept.

http://www.investopedia.com/terms/t/takaful.asp

 

[ALBundy]

To me the most important thing is the agent that you will be using. Is he/she a part timer or a full time agent, or better still have his/her own agency. All insurance plans/tariffs (including takaful) are governed by Bank Negara and as such, most of them are similar, it all depends on how you want your plan to be structured and customised to your needs.

If you want to scratch your left ear, it doesnt matter if you use your right or left hand, albeit a little more work with your right hand

 

[NKTOB]

To me the most important thing is the agent that you will be using. Is he/she a part timer or a full time agent, or better still have his/her own agency. All insurance plans/tariffs (including takaful) are governed by Bank Negara and as such, most of them are similar, it all depends on how you want your plan to be structured and customised to your needs.

If you want to scratch your left ear, it doesnt matter if you use your right or left hand, albeit a little more work with your right hand

Agreed on the above.

It's a matter of the agent one is dealing with. He or she must be experienced enough to not only advise but provide all the necessary information/services required by the client.

It all boils down to where the 'agent' is coming (trained) from. If their managers are hell bent on achieving sales figures each month, then I bet they'll harp on their agents to become pushy on their prospects. Most of them fail to see this as a 'long term' commitment of work as they are more focused on bringing the dough in each month!

Nowadays, we can easily find Registered Financial Planner (RFPs) from most of the ins companies. I bet they are more than qualified to deal with the financial planning issues than the street agents.

Buy only what you need, and can afford. This is how I would like to be treated

I believe all ins companies are the same, as it's govern by Bank Negara. It's the people who makes the difference.

 

[astroboy]

They are all the same.. the cheaper ones give u less coverage while the more expensive ones gives u more things.. all calculated already la. Risk premium calculation is pretty standard by locality.. In our case, they use the Malaysia National Mortality Rate. They can call their policy whatever name they want but its basically the same thing, participating or non participating, that's all.

Try not to mix and aim for gain by getting the participating policy, this is after all life insurance and not an income instrument like mutual funds, FDs, bonds and the likes. Make sure the premium is within your means because pre-mature termination cause big loss.

I'm license under AIA by the way, but don't contact me, I only service myself.... :wink:

 

[loafer]

Same shit different flavour. It's all the same as astroboy mentioned. It's all the marketing jargon that makes it confusing for the consumers.

Personally I feel there isn't an insurance company that's bad, it's the agents that make them look bad. So choose your agents wisely and always be on the look out for better ones. As agents their real job is to provide you with solutions that cater to your NEEDS and not theirs.

 

[Crymson]

Zam - loafer have provided the link about takaful. But about why it is recommended for muslim, it's obvious bro. Muslim are prohibited to undertake/participate in anything that is Riba. If there are options that does not take Riba, then it is your obligation as a muslim to take it.

Well most agent and registered financial planners are attached to a insurance/takaful company or a bank. Though they have the licenses but they are still promoting their company's product. If you have to choose, pick the ones you are comfortable and trust to work with as criteria by astroboy and Albundy, except the agency part. But this topic is about which insurance company is better based on other person's experience and not about agents (i know that is also an important factor to consider). If you want to talk about which agent is best, then recommendation is always best.

 

[Crymson]

I'm license under AIA by the way, but don't contact me, I only service myself.... :wink:

Hi astroboy, I used to be with Dr Jeffrey. Are you KL or PJ agency?

 

[astroboy]

Hi astroboy, I used to be with Dr Jeffrey. Are you KL or PJ agency?

KL agency, under Jeffrey Chiew.. so small world meh?! those evening training sessions on 21st floor Menara AIA didn't really help me put bread on my table but I learned a lot about insurance from Jeffrey.. haha..

 

[Crymson]

Hahaha small world indeed. Same here, learn alot from him too. Want to ask you about his 3 assistant/secretaries but not appropriate to highjack people's thread

There you go Zamtresco. Hope we answered your inquiry.

 

[Crymson]

Hahaha small world indeed. Same here, learn alot from him too. Want to ask you about his 3 assistant/secretaries but not appropriate to highjack people's thread

There you go Zamtresco. Hope we answered your inquiry.