Browsing: Insurance

Prudential PRUaccess plus: How To Register and Log In

Prudential PRUaccess plus portal

It is digital world nowadays. Most thing will slowly move to paperless. I strongly support this as this is also good for our Mother Earth and environmentally friendly. So, in March this year, when I received an SMS notification from Prudential that my 2016 statement is now available through their portal, I quickly register for it. If you’re wondering how to register for PRUaccess plus, just visit Prudential PRUaccess plus here. Basically you will need your policy number for registration.

What I love about PRUaccess plus is almost all of the information on my policy is there. This includes:

  • Policy Details
  • Premium and Payment Details
  • Claims Details
  • Sales Channel Information
  • Product and Marketing Information

PRUaccess plus also provides online services as below:

  • Pay life insurance premium
  • Update contact details
  • View and download life policy insurance annual statements
  • View and download life policy insurance document
  • View PRUlink funds report
  • Change personal security profile (password, security phrase & colour)

Before I register for PRUaccess plus, I used to call or message my Prudential advisor for my PRUlink funds report. But now, I can easily get my PRUlink funds report within a few click.

To log in to PRUaccess plus, please visit PRUaccess website here.

So, get your PRUaccess now. Support paperless. Go green. Create a better place for our next generation. Most importantly, it makes your life much more convenient.

 

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Insurance Coverage As Wealth Protection

In financial management, other than accumulating wealth, the other important part will be protecting our wealth.  Without wealth protection, uncertainties in life might take away our hard earned wealth. How to protect our wealth? We can do so with insurance coverage.
In Malaysia, car road tax renewal will only be issued upon the purchase of insurance of the car. From here, it shows the importance of insurance protection. That is for car, what more to say insurance for a human being?
When my niece was diagnosed with kidney failure, the first question my younger brother asked me was whether my niece has medical card or insurance coverage or not. Sad to say, my niece is not protected with insurance.  So, my brother (her father) has to settle all medical expenses with his hard earned money. Of course, we as family member, especially our parents did help them for the medical expenses. Like my niece case, it is a long term medical care for her. From the moment my niece diagnosed with kidney failure, my brother started to worry, not only on my niece’s health condition but also worried for financial support of her health condition.
Lucky that after admitted to Sarawak General Hospital, the medical expenses is still manageable because it’s government hospital. Furthermore, my niece still holds her university student card. We are still unsure of the roads ahead, but we pray hard that her kidneys still has hope.
Situation would be better (financially) if my niece has her insurance coverage especially medical card.  My conclusion here is that it is important to have medical card and insurance coverage. We never know what lies ahead of us. It’s crucial to prepare for the worst. At least with medical card or insurance coverage, the financial burden will be lighter. 
For those who are not under insurance coverage or medical card, it is time to get one now. 

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A Nightmare…

Today is the 9th Day of 2012 Dragon year. For the past 2 weeks, it has been a long nightmare for our family. My 24 years old niece is diagnosed with kidney problem and it is at a serious stage. We visited 3 specialist including Dr Clare Tan, the Consultant Nephrologist at Sarawak General Hospital (SGH). All 3 Specialist advise for kidney dialysis. The Specialist brought us to dialysis centre so we can chit-chat with the patients. We visited National Kidney Foundation (NKF) dialysis centre in Kuching as well. Specialist said, my niece can only survive with dialysis. It has been a very painful moment for everyone in the family, especially my niece and her parents. Normally, kidney failure patient needs 3 times dialysis a week, and about 4 hours for each session. Which means that about 12 hours a week. Each session will cost about RM200, have not include other fee and medicine involved. Based on the information from kidney dialysis patient at medical centre, they dialysis cost about RM4000 per month…
As at now, while waiting for the dialysis decision, my niece is taking medicine & vitamin supplement from SGH (packs and packs of them) and traditional chinese medicine (TCM) as well. She has kidney problem when she was about 4 years old. The traditional chinese medicine cure her at that moment. So, now my brother is going back to the TCM. Other than that, my brother also looking for other alternative such as medical body massage and yesterday met another TCM which has cured some kidney patients. We know it is not right to mix the medicine, but we have no choice…
I really hope and pray that my niece will no need to go through dialysis…I cannot stop from thinking of her condition… She is now in her final year at University Malaysia Terengganu. We had to stop her from finishing her final semester there…
If really need to go through dialysis, another concern is the cost involved. My niece is not covered by insurance. Unless she managed to be accepted to NKF dialysis centre, our family wont be able to cope with the huge medical expenses… even at NKF dialysis centre, the cost needed is roughly RM1K+++ (depend on condition).
If any of you had any information which can help my niece situation, please do let me know. I thank you in advance.

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5 Reasons Why I Signed Up Prudential Prulink Assurance Plan

I had bad impression about insurance and very bad impression about insurance agents. That was because in my younger years, my father told me that ‘do not trust insurance or insurance agents. they promised thousand of things but when there really is something happened, you can’t find them.’ My father said that because he had some bad experience with insurance industry.
When I started to work in early 2000s, I done some reading and own research on insurance. I also discussed and talked to colleagues and friends about insurance. My elder brother has a few friends working in insurance industry and they also helped me a lot to understand more about insurance.

About 1 year later, I bought my first insurance policy, Prudential Prulink Assurance Plan, a plan which provide both protection and investment to its policy holders.
Why I signed up? These are the reasons:
1) For my own protection
When I started working for the first few years, I was thinking, if I suddenly had serious illness or involved in accident and not able to work and earn income, what will happened to me? Will I have enough saving for the treatment and those health related matter? Will I trouble my parents and family for that? Sometimes, these thought made me not able to sleep at night. If I have an insurance policy, at least I am covered for the illness and there are financial support for the expensive treatment.
2) For my saving
During that time I didn’t have much commitment, but I just don’t know where does my money goes too. So, with insurance, I forced myself to save a few hundred every month to pay insurance premium. At least, when I received my yearly account statement, I know where my money goes too.
3) For my investment
For my Prudential Prulink investment account, partial of my premium will be invested in selected funds. My insurance consultant advised me to first invest in equity fund because he said I was still very young and I have plenty of time. Few years later, his assistant advised me to switch some of the equity fund to bond fund due to slower market. I didnt’ regret listened to his advise. So far the return from both prulink bond and prulink equity funds are very impressive.
4) For my retirement
With the hope that everything goes well and I didn’t make any claims or withdrawal from Prudential, when I reach 60 years old, I will have additional cash from the investment for my retirement fund.
5) For my future
When I learned that the premium increase with the age, I know that I must have an insurance coverage as early as possible. I don’t want to wait till I have a family or other commitment because by then, the premium would be very high and insurance company had the right to reject applications with health problem.
Among all the above, the main reason is still the first reason, for protection. In case of any accidents or serious illness happened, there will be financial support for myself and my family members. Will the increasing price in health care industry, it is wise to have an appropriate insurance coverage for oneself, as early as possible.

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Eon Bank & Uni.Asia – Wealth Xtra Assurance & Investment Account

Earlier this week, Dave said that he received his account value statement for his Wealth Xtra Investment Account which he purchased about 2 years ago from EON Bank. He did grumbled about the current value of the investment as the value had dropped about 40%. He even think to sell of the fund to get back the cash. The next day, he showed me the account value statement with Investment-Link Fund’s Performance Report and the Uni.Asia insurance policy he purchased together with the investment.
After a details reading of the insurance policy and some googling, then I understood his Wealth Xtra Investment. It is a bancassurance product by Eon Bank with the purpose to provide protection and investment for their investors. The insurance coverage is 125% of the sum insured or the current Account Value, whichever is higher, upon death. For the investment, Dave invested in Uni Global IPO fund. At the current slow economic growth, the fund is not performing well.
After further understanding of the Wealth Xtra Assurance & Investment account, Dave decided not to sell of or surrender his policy. He decided to give more time for the fund to perform. He also said, 2 years ago, the officer from the EON Bank promoted this fund for him without telling him further details. What she mentioned was the Uni Global IPO fund will make money. After he signed up the policy, when he went to the bank to look for her for enquiries, she’s no longer working there and other officer informed him to go to Uni.Asia office for enquiries. I can tell he really frustrated when the officer not able to explain to him accordingly.
I think things will be much better if the organization put their customers’ interest first than their own interest. For this case, it’s easy just to get the cash from the investors, get them to sign on the policy. But, later who will take care of them? Who will provide assistance when the real needs arise?
Dave said next time he will be extra careful when purchase a product which involved different assurance or investment product offered by different organization. Because, we don’t trust them to handle our cash. I hate it when one party push to another party. I prefer to deal with a certain bank for their banking product sand another different insurance company for their insurance services.
Be careful before you sign on the dotted lines…

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Malaysia Motor Insurance – Know Your No Claim Discount (NCD)

Earlier this week, I have been asking for quotations for my car insurance renewal. I was a bit surprised how my googling on No Claim Discount (NDC) or No Claim Bonus (NCB) can save me about RM40. 
When I requested for the quotation from one of the local bank, the customer service asked for my car details. Then, she said the amount is about RM417. I was a bit curious as the amount was not as what I expected. I knew about NCD but not really in details. Due to my curiosity, I did some googling on NDC in Malaysia. 
According to Kurnia Insurance website, NCD is s a discount given to the policyholders upon renewal of their motor insurance if no claim is made or arises from the policy for a continuous coverage of 12 months. The discount given is based on a fixed rate provided by Persatuan Insurans Am Malaysia (PIAM) Motor Tariff. The NCD discount for private car in Malaysia as below:
Period of Insurance Discount
First year    0%
After the first year of insurance          25%
After the second year of insurance    30%
After the third year of insurance    38.33%
After the fourth year of insurance    45%
After five or more years of insurance    55%
I called the customer service again and told her that I checked through the NCD claims details and I should be entitle for 45% instead of 38.33%. she calculated again and this time the amount that she gave to me sound reasonable, RM372. I believe, if I didn’t asked for the second calculation, then she’ll just charge me RM417. Luckily I did some googling. And most importantly I feel good because I learned something new.
So, next time you are planning to renew your motor insurance, check your NCD entitlement. I found that Kurnia Insurance website provides a complete details for motor insurance coverage and even a calculator to calculate the motor insurance premium . Remember to calculate your own motor insurance premium before purchasing the insurance. Perhaps you can save some $$$ from here.

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