uecm 2433 – introduction to risk management and insurance
DESCRIPTION
UECM 2433 – Introduction to Risk Management and Insurance. Tutorial: Group 5 Prepared by: Chay Pui Yinn(0900864) Soh Wei Yen(0802727) Teo Ai Lee(0900210). Insurance products:. Life insurance: Great Eastern (Great Enhance Living Care) Uni Asia ( Uni.CI Protector Plus ) - PowerPoint PPT PresentationTRANSCRIPT
![Page 1: UECM 2433 – Introduction to Risk Management and Insurance](https://reader035.vdocuments.us/reader035/viewer/2022062221/56814598550346895db28990/html5/thumbnails/1.jpg)
Tutorial: Group 5Prepared by: Chay Pui Yinn(0900864) Soh Wei Yen(0802727) Teo Ai Lee(0900210)
![Page 2: UECM 2433 – Introduction to Risk Management and Insurance](https://reader035.vdocuments.us/reader035/viewer/2022062221/56814598550346895db28990/html5/thumbnails/2.jpg)
Life insurance: Great Eastern (Great Enhance Living Care)Uni Asia (Uni.CI Protector Plus)Allianz (PowerLink)
Medical insurance:Allianz (Care -Individual)OCBC (Medic - Pac)Prudential (PruHealth)
![Page 3: UECM 2433 – Introduction to Risk Management and Insurance](https://reader035.vdocuments.us/reader035/viewer/2022062221/56814598550346895db28990/html5/thumbnails/3.jpg)
![Page 4: UECM 2433 – Introduction to Risk Management and Insurance](https://reader035.vdocuments.us/reader035/viewer/2022062221/56814598550346895db28990/html5/thumbnails/4.jpg)
PowerLink
One regular premium investment-linked planCoverage:
Critical illness Medical and Health Regular Saving, Waiver of Premium Death or Total and Permanent Disability (TPD)
![Page 5: UECM 2433 – Introduction to Risk Management and Insurance](https://reader035.vdocuments.us/reader035/viewer/2022062221/56814598550346895db28990/html5/thumbnails/5.jpg)
Great Enhance Living Care
Whole life and deferred whole life insurance plan
Coverage: Critical illness Death or Total and Permanent Disability (TPD)
![Page 6: UECM 2433 – Introduction to Risk Management and Insurance](https://reader035.vdocuments.us/reader035/viewer/2022062221/56814598550346895db28990/html5/thumbnails/6.jpg)
Uni.CI Protector Plus
Whole life planCoverage:
Critical illness Death or Total and Permanent Disability (TPD) Accidental TPD Accidental Death Funeral expenses Terminal illness
![Page 7: UECM 2433 – Introduction to Risk Management and Insurance](https://reader035.vdocuments.us/reader035/viewer/2022062221/56814598550346895db28990/html5/thumbnails/7.jpg)
![Page 8: UECM 2433 – Introduction to Risk Management and Insurance](https://reader035.vdocuments.us/reader035/viewer/2022062221/56814598550346895db28990/html5/thumbnails/8.jpg)
Company Allianz Great Eastern Uni AsiaPremium rates • Fixed premium at
RM 1200
• 95% premium will
be allocate for
insurance premium
• Same premium rates
throughout the
premium payment.
• Plan mature at age 87
• Fixed premium for
all ages
• Participation
continued up to age
70 for death and age
65 for TPD
• Guaranteed
renewability
Others or
benefits
• A free look period
of 15 days
• Optional major
protection depend
on the insured need.
• Premium payment
in monthly,
quarterly or yearly.
• A free look period of
15 days
• Cash bonus and
Terminal bonus
• “Buy Back” option
• enhanced protection
with optional riders
• No free look period
• -funeral expenses
• -medical
examination plans
• -optional
services(Endah or
Millennium) with no
limit expired age.
![Page 9: UECM 2433 – Introduction to Risk Management and Insurance](https://reader035.vdocuments.us/reader035/viewer/2022062221/56814598550346895db28990/html5/thumbnails/9.jpg)
![Page 10: UECM 2433 – Introduction to Risk Management and Insurance](https://reader035.vdocuments.us/reader035/viewer/2022062221/56814598550346895db28990/html5/thumbnails/10.jpg)
Allianz Care –Individual
Hospital and Surgical Insurance surgical fees, hospital supplies & services, pre-hospital diagnosis test
Major medical insurance monthly outpatient cancer treatment emergency accidental outpatient treatment
Long-term Healthcare Home nursing care
![Page 11: UECM 2433 – Introduction to Risk Management and Insurance](https://reader035.vdocuments.us/reader035/viewer/2022062221/56814598550346895db28990/html5/thumbnails/11.jpg)
Medic – Pac
Hospital and Surgical Insurance surgical fees pre-hospital diagnosis test operating theatre intensive care
Major medical insurance Ambulance fees In-Hospital Physician Visit emergency accidental outpatient treatments
![Page 12: UECM 2433 – Introduction to Risk Management and Insurance](https://reader035.vdocuments.us/reader035/viewer/2022062221/56814598550346895db28990/html5/thumbnails/12.jpg)
Long-term Healthcare nursing at home daily maximum up to 60 days
Home Savings Accounts Government service tax is insured
![Page 13: UECM 2433 – Introduction to Risk Management and Insurance](https://reader035.vdocuments.us/reader035/viewer/2022062221/56814598550346895db28990/html5/thumbnails/13.jpg)
PruHealth
Hospital and Surgical Insurance hospital daily room& board(120 days a year) pre and post-hospitalization treatment surgical in hospital related services. day surgery intensive care
![Page 14: UECM 2433 – Introduction to Risk Management and Insurance](https://reader035.vdocuments.us/reader035/viewer/2022062221/56814598550346895db28990/html5/thumbnails/14.jpg)
Major medical insurance cancer treatment kidney dialysis emergency treatment for accidental injury
(annual limit)
Long-term Healthcare Home nursing care(180 days per lifetime)
![Page 15: UECM 2433 – Introduction to Risk Management and Insurance](https://reader035.vdocuments.us/reader035/viewer/2022062221/56814598550346895db28990/html5/thumbnails/15.jpg)
![Page 16: UECM 2433 – Introduction to Risk Management and Insurance](https://reader035.vdocuments.us/reader035/viewer/2022062221/56814598550346895db28990/html5/thumbnails/16.jpg)
company Allianz OCBC PrudentialPremium devision • Unisex premium rate
• Two type of annual
premium, non cashless or
cashless plan
• Unisex premium rate • Unisex premium rate
• Occupation class premium
rate
• Three types of annual
premium, expiry age 70, 80
and 100 respectively.
Premium rates • higher for first age
category and increase for
increase age category
• increase following the
increase of age category
until age 60 and lower at
age (61-65) and (66-70)
• Increase following the
increase of age categories.
Conditional
renewable
• Applicable after 2 years
of policy inception.
• Renewal up to age 70 • Guaranteed renewable
Others • Coverage up to age 70 • Coverage up to age 70 • Coverage up to age 100
• Reward policyholder with
NO Claims Bonus (NCB)
for those who do not make
claims of the year.
![Page 17: UECM 2433 – Introduction to Risk Management and Insurance](https://reader035.vdocuments.us/reader035/viewer/2022062221/56814598550346895db28990/html5/thumbnails/17.jpg)
the insurable interest should be validThe premiums payable under the policy is the
amount that is affordable by the insured the plan serves the needs to the insured. most of the medical insurance set few plan(at
least four) with different premiums amount according to different occupation group.
a waiting period of 30 days from the commencement date of insurance for medical examination of the insured to examine whether the insured suit the term and condition of the policy.
![Page 18: UECM 2433 – Introduction to Risk Management and Insurance](https://reader035.vdocuments.us/reader035/viewer/2022062221/56814598550346895db28990/html5/thumbnails/18.jpg)
Life insurance:Great Enhanced Living Care (Great Eastern)
the unique of “Buy Back” option when critical illness claim is made, the chance of
getting insurance is decrease. able to “Buy Back” the death benefit portion of the
policy up to the maximum of the basic sum assured payments pay by cash, GIRO, banker’s order,
cheque or credit card annually, half yearly, quarterly or monthly
cash bonus and terminal bonus depend on the operating and investments results.
![Page 19: UECM 2433 – Introduction to Risk Management and Insurance](https://reader035.vdocuments.us/reader035/viewer/2022062221/56814598550346895db28990/html5/thumbnails/19.jpg)
Health Insurance:PruHealth (Prudential)
rewards No Claims Bonus(NCB) plan to the insured with yearly bonuses of up to RM500 when the insured do not make a claim while continue enjoy medical coverage
a regular premium medical rider that gives bonuses when the insured are healthy
covering the medical bills even up to age 100