medical insurance

Unit link is the investment part which means at some point in the future you could get some money back

Say your premium is $100. The insurance company invests that to make a return to cover any claims
If in the future you cancel or the policy expires you are entitled to some of that back

But don't expect a lot. Yours is predominantly a medical insurance. NOT a life insurance and not a savings plan

Life insurance is what pays you a big lump sum if you die
Savings plans are unit linked - every premium is buying units in equity / hedge funds (stocks and shares) which increase in value usually
Health insurance just covers medical etc and can be stopped any time but you won't get it back

If you don't crash your car, you don't get your money back. But if you crash it driving out the showroom then you would get a brand new car.

Some you win some you lose

All 3 are important. But ideally keep them separate. And make sure policies up to date. If you let one lapse by even a day non payment etc then don't moan if the insurance company don't pay your claim one day

Then every type of insurance has sub divisions. Like life insurance to cover a mortgage. Decreasing term means it costs less and pays less the longer it goes on because in 20 years there's less mortgage arrears to pay
Whole of life is as it means
Increasing term means premium and sum assured goes up e.g. inflation etc etc
 
Unit link is the investment part which means at some point in the future you could get some money back

Say your premium is $100. The insurance company invests that to make a return to cover any claims
If in the future you cancel or the policy expires you are entitled to some of that back

But don't expect a lot. Yours is predominantly a medical insurance. NOT a life insurance and not a savings plan

Life insurance is what pays you a big lump sum if you die
Savings plans are unit linked - every premium is buying units in equity / hedge funds (stocks and shares) which increase in value usually
Health insurance just covers medical etc and can be stopped any time but you won't get it back

If you don't crash your car, you don't get your money back. But if you crash it driving out the showroom then you would get a brand new car.

Some you win some you lose

All 3 are important. But ideally keep them separate. And make sure policies up to date. If you let one lapse by even a day non payment etc then don't moan if the insurance company don't pay your claim one day

Then every type of insurance has sub divisions. Like life insurance to cover a mortgage. Decreasing term means it costs less and pays less the longer it goes on because in 20 years there's less mortgage arrears to pay
Whole of life is as it means
Increasing term means premium and sum assured goes up e.g. inflation etc etc
Enlighting! Some else said in this thread " at some point in your life, you need doctors and hospitals, so you will sooner or later need to fall back on your medical insurance", right? Sounds to me that a unit link is a good idea to cover your treatment. Or am I wrong? Can your investment in the unit link be not sufficient to cover the treatment in the future? So you could be paying after all your medical cost out of your pocket again.
 
Wrong. For health medical insurance better to get a stand alone policy
Unit linked will not provide as much coverage and honestly what you could get back in 25 years is not going to be a lot
And it's not accessible until the policy ends

Think of it as like BPJS. When you leave Indonesia and stop your payments you can apply to get back "some". But after years and years of payments you'd be lucky to get a couple of thousand dollars if that

Investment vehicle should be stand alone. The charging structure is designed for those purposes. Long term investment.

You want a burger? McD is the best. No point spending $100 in the Five Seasons despite what they might say about their quality. That sort of analogy

Some things are worth spending money on.
 
Enlighting! Some else said in this thread " at some point in your life, you need doctors and hospitals, so you will sooner or later need to fall back on your medical insurance", right? Sounds to me that a unit link is a good idea to cover your treatment. Or am I wrong? Can your investment in the unit link be not sufficient to cover the treatment in the future? So you could be paying after all your medical cost out of your pocket again.
Your unit linked premiums could be not enough for paying the insurance costs, mainly due to rising insurance costs and the event of stock market crash. In 2020, many of unit linked policies from various providers have lapsed because of the stock market crash.

In that case, to prevent a lapse, you need to actively check your policy value and be prepared to pay more to the provider (outside of your premium) in the form of "top-ups" which is allocated to buy stocks and shares. Make sure to check for acquisition rates of your provider, meaning the money that you paid are not 100% fully used to buy stocks and shares. Different providers have different rates.
 
Your unit linked premiums could be not enough for paying the insurance costs, mainly due to rising insurance costs and the event of stock market crash. In 2020, many of unit linked policies from various providers have lapsed because of the stock market crash.

In that case, to prevent a lapse, you need to actively check your policy value and be prepared to pay more to the provider (outside of your premium) in the form of "top-ups" which is allocated to buy stocks and shares. Make sure to check for acquisition rates of your provider, meaning the money that you paid are not 100% fully used to buy stocks and shares. Different providers have different rates.
I see. With this infirmation, now I think not to apply for an insurance linked to an unit but to apply for an insurance without and with the risk of premium increase every year. Or ... - maybe even- and, as some one earlier mentioned, to save every month some money for hospialization yourself. Right?
 
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Wrong. For health medical insurance better to get a stand alone policy
Unit linked will not provide as much coverage and honestly what you could get back in 25 years is not going to be a lot
And it's not accessible until the policy ends

Think of it as like BPJS. When you leave Indonesia and stop your payments you can apply to get back "some". But after years and years of payments you'd be lucky to get a couple of thousand dollars if that

Investment vehicle should be stand alone. The charging structure is designed for those purposes. Long term investment.

You want a burger? McD is the best. No point spending $100 in the Five Seasons despite what they might say about their quality. That sort of analogy

Some things are worth spending money on.
Yes, true. Somethings are. Did your insurance premium increased a lot over the years? Presuming that you took an insurance without unit link.
 
I see. With this infirmation, now I think not to apply for an insurance linked to an unit but to apply for an insurance with the risk of premium increase every year. Or as some one earlier mentioned to save every month some money for hospialization yourself. Right?
Well basically whether it's a traditional policy (which you're considering now) or unit linked, both will increase in costs. The increase in traditional ones are reflected directly in the rising premiums, while in the unit linked it's hidden as long as your stocks perform well over the insurance cost increase, if not then it will be reflected in you paying your top-ups.

Traditional policies : (+) cheaper, (-) rising premiums, yearly renewable (meaning you have to pay every year to get covered)
Unit-linked policies : (+) you can skip paying your premium (but it's better to always pay), provided your policy value are still enough to pay the premium, (-) your policy value fluctuates in accordance to the market

About saving some money, the medical bills here in Indonesia are not that cheap. It's good to have insurance and better the ones that cover hospitals abroad as well, in case you need better care, e.g. in Singapore

Besides, savings and insurance are quite different. You need to wait a certain amount of time to save as much as your medical bill, while insurance will pay the bill directly in case of hospitalisation
 
Mine still the same but I'm sure eventually it will go up inflation etc
Best to try stick with same one so new one can't say preexisting conditions etc
Maybe take a full medical and send to your provider to show you are still healthy

Blood test ecg. So non smoker and no heart problems.
Cancer hard to predict
 
Can’t predict what will happen so insurance is a must. I would say saving money in a jar isn’t the best idea either. I have no pre existing conditions but chose to buy insurance “Incase” of anything major arises. 20jt / year is not much for peace of mind.

You could argue that someone with complicated, major health issues would be better to self insure simply because the premium would be so high. A little late to try and source insurance after a severe diagnosis too. Like trying to insure a Lambo you just totaled.
 
Mine still the same but I'm sure eventually it will go up inflation etc
Best to try stick with same one so new one can't say preexisting conditions etc
Maybe take a full medical and send to your provider to show you are still healthy

Blood test ecg. So non smoker and no heart problems.
Cancer hard to predict
Okay, I will do a medical check and send in. Do I have to.pay for this medical test myself? If so. Do I get a refund when excepted?
 
Well basically whether it's a traditional policy (which you're considering now) or unit linked, both will increase in costs. The increase in traditional ones are reflected directly in the rising premiums, while in the unit linked it's hidden as long as your stocks perform well over the insurance cost increase, if not then it will be reflected in you paying your top-ups.

Traditional policies : (+) cheaper, (-) rising premiums, yearly renewable (meaning you have to pay every year to get covered)
Unit-linked policies : (+) you can skip paying your premium (but it's better to always pay), provided your policy value are still enough to pay the premium, (-) your policy value fluctuates in accordance to the market

About saving some money, the medical bills here in Indonesia are not that cheap. It's good to have insurance and better the ones that cover hospitals abroad as well, in case you need better care, e.g. in Singapore

Besides, savings and insurance are quite different. You need to wait a certain amount of time to save as much as your medical bill, while insurance will pay the bill directly in case of hospitalisation
Wow, thanks for the explaination. Very helpful. Didnot know all of these angles. The bills here are not cheap. I just paid a bill of 90 juta. That's why I am looking around for an insurance.
 
Wow, thanks for the explaination. Very helpful. Didnot know all of these angles. The bills here are not cheap. I just paid a bill of 90 juta. That's why I am looking around for an insurance.
No problem a-sha. I know because I'm an insurance agent myself 😅. I can dm you some quotes if you want to
 
No problem a-sha. I know because I'm an insurance agent myself 😅. I can dm you some quotes if you want to
Hah ... i see. I have no problem with getting a quote as long as it is with no strings (or how do you say this in English?). Are you female or male? As snpark mentioned .. females.are more caring 😁
 
Hah ... i see. I have no problem with getting a quote as long as it is with no strings (or how do you say this in English?). Are you female or male? As snpark mentioned .. females.are more caring 😁
No worries :ROFLMAO::ROFLMAO::ROFLMAO:, if it suits you that's good, if not then that's fine too. Unfortunately, I'm a male a-sha 🙃
 
I just don't see the link between the stock market and medical insurance. For your Netflix subscription would you pay into a Netflix stock fund and ask them to take money from it to pay for your subscription?
You have to remember that for every financial product there is a profit being made by the company offering the product otherwise they wouldn't offer it. And the profit is pretty high because those companies make a lot of money. And guess who is paying for that profit? Yes, you, the customer.

If you are generally not very healthy or scared of having an accident, infection or something then medical insurance is a good idea. If you want to invest in stocks then I wouldn't suggest mixing the two things together. Next thing you know they will be offering you free Starbucks coffee everyday with your medical insurance (spoiler: it's not free).
 
I just don't see the link between the stock market and medical insurance. For your Netflix subscription would you pay into a Netflix stock fund and ask them to take money from it to pay for your subscription?
You have to remember that for every financial product there is a profit being made by the company offering the product otherwise they wouldn't offer it. And the profit is pretty high because those companies make a lot of money. And guess who is paying for that profit? Yes, you, the customer.

If you are generally not very healthy or scared of having an accident, infection or something then medical insurance is a good idea. If you want to invest in stocks then I wouldn't suggest mixing the two things together. Next thing you know they will be offering you free Starbucks coffee everyday with your medical insurance (spoiler: it's not free).
Because we are not talking about medical insurance. That's the point

That's a whole of life unit linked insurance. Totally different
 
Getting a medical was an idea aja
Although some insist on it anyway if you're an old fart
 
Because we are not talking about medical insurance. That's the point

That's a whole of life unit linked insurance. Totally different
I will keep this in mind. Donot mix medical insurance and investments.
 

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