http://forum.lowyat.net/ Wed, 30 Sep 2026 21:31:34 +0800 FeedCreator 1.7.2 http://forum.lowyat.net/topic/3267238 I have invested in Prudential investment linked medical insurance on 20 Aug 2003. At that time, I have informed the Agent that I am not interested in any Life Insurance and looking for investment and she introduced PruMajor Med (PMM2 400) to me. I was assured that there will be better returns than Fixed Deposit plus it comes with medical protection. I have also informed her that my employer provides comprehensive medical insurance but she assured me that this is for my use after retirement. It makes sense until I received a letter from Prudential dated 17 May 2004 to state that my annual premium RM3000 is not enough to cover my insurance premium due to continual upward trend in medical claims.<br /><br />My policy is as follows:<br />Policy: PMM2 400<br />Room: RM400/ night<br />Annual Limit: RM150000.00<br />Lifetime Limit: RM450000.00<br />Age Limit: 70<br />Co-insurance: Nil<br />Annual Premium: RM3,000<br />Revised Premium: RM3,269.76 (8.992% increase)<br />Total Payment Premium paid up to 31 Dec 2013: RM31,000<br />Claims made: Nil<br />Total Cash Value in Prulink Managed Fund (as at 31 Dec 2013): RM19,102.75 (61.62% of total RM31,000 invested). A negative return&#33; Based on the projection provided by the Agent in Aug 2003 - the worst case cash value projection at 11th year was RM18,372 and mid case scenario was RM26,133. The return is basically at worst case&#33;&#33; <!--emo&:angry:--><img src='http://static.lowyat.net/style_emoticons/default/mad.gif' border='0' style='vertical-align:middle' alt='mad.gif' /><!--endemo--> <br /><br />1. Should I continue with this medical plan considering that I am no longer working with no employer&#39;s insurance?<br /><br />2. If you are looking to invest, is this the insurance plan since I depend on investment for my expenses? <br /><br />3. Would you recommend young working adults to buy insurance? If no, why the Insurance companies still continue to flourish in their so call investment that does not gives return? <br /><br />4. Is there anything I can do to warn the general public that they beware of insurance tricks? My Prulink managed fund return that will always be in deficit one third of total premium paid in the first 6 years was deducted as commission for the Agent and thus the survivor of that investment is very slim. It has not and and does not look like I will ever get the total amount invested.<br /><br />5. Prudential proposed new options PruFlexi and PruHealth but without giving any details. If you are an insurance agent, please tell me what are the benefits of these options.<br /><br />Thanks<br /><br /> speedbankrupt Finance, Business and Investment House Mon, 23 Jun 2014 15:31:32 +0800