Saving plans or Insurance plans?

[chopra]

As far as i know, deductible and co-insurance are both packaged under AIA GOLD essential. Once you include that in your basic hospital plan, there is no difference between 'A' ward and 'Private' ward.

There is basically no change in premiums regardless of the classification of wards when essential is bought. As far as i know, only deductibles changes between different wards but once essential is included, the premiums should be the same.

The table included deductibles and co-insurance in P and A wards so there should be no difference since you are allowed to choose any wards(P or A) when they are bought. So the table should be classified into "With or without deductible bought" instead of P and A ward? Please let me know if i got it wrong.

You are only talking about the best product of AIA - which covers up to 'p'.

There is a cheaper AIA product as shown in the table, which covers up to 'a'. If you ward in private under this package, you need to pay the difference between that private and A class ward.


My table actually have hidden columns of with and without rider (for deductible and co insurance).
Let me know if u want me release here cos its alot of numbers and might be confusing.

 

[archcherub]

Actually, independent financial advisers can't sell every company's insurance plans either, but they have the most choices available. Sometimes the best plan out there isn't with any of their options either.

Also, with regards to claims/service/etc., an insurance company will tend to be most responsive to the sales channel that gives it the bulk of its sales/profit, which tends to be one of its tied agencies. Something to keep in mind, IMO.

I'm not knocking independent financial advisers, but these points are sometimes overlooked.

In the end, it's still dependent on the individual adviser's integrity/honesty. You can find good ones in both tied agencies and independent financial advisers.

with due respect, i totally disagree with the claims/service/etc that is most responsive to sales channel.
customer service officers that man the hotline are equally responsive to all customers of the insurance firm.

and yah IFA advisers cannot sell every single one products, so usually they drop the uncompetitive products

 

[chopra]

with due respect, i totally disagree with the claims/service/etc that is most responsive to sales channel.
customer service officers that man the hotline are equally responsive to all customers of the insurance firm.

and yah IFA advisers cannot sell every single one products, so usually they drop the uncompetitive products

if it's the same product, is it cheaper to engage ifa or go direct?

eg aviva term insurance.

 

[PruCorgi]

with due respect, i totally disagree with the claims/service/etc that is most responsive to sales channel.
customer service officers that man the hotline are equally responsive to all customers of the insurance firm.

and yah IFA advisers cannot sell every single one products, so usually they drop the uncompetitive products

Customer service officers will generally be equally responsive, although for some companies, it takes forever to finally get through to one. I was talking about when you go through the agent/adviser when making claims or service issues, especially ones which may not be so clear-cut.

If only it were that simple... although yes, IFAs do tend to drop the uncompetitive products from the companies they represent. I wouldn't be surprised if the market eventually moves closer to the IFA model over time. I'm just saying there's no single insurance channel out there which offers all the products available on the market, even the IFAs.

 

[iCuteCube]

if it's the same product, is it cheaper to engage ifa or go direct?

eg aviva term insurance.

Technically it should be the same, less "free gift" or promotion.

 

[WuMing1234]

Doesnt matter if you go to ifa or direct.

IFAs are exposed to more products and hence they do not solely represent a single insurer. However, the very fact that they are commission driven as well will mean that conflict of interest will still exists. That is to say, there is really no difference between IFAs and an normal agent.