UECM 2433 – Introduction to Risk Management and Insurance.

1. 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)

2. Insurance products: • 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)

3. Life Insurance

4. Allianz PowerLink • One regular premium investment-linked plan • Coverage: • Critical illness • Medical and Health • Regular Saving, • Waiver of Premium • Death or Total and Permanent Disability (TPD)

5. Great Eastern Great Enhance Living Care • Whole life and deferred whole life insurance plan • Coverage: • Critical illness • Death or Total and Permanent Disability (TPD)

6. Uni Asia Uni.CI Protector Plus • Whole life plan • Coverage: • Critical illness • Death or Total and Permanent Disability (TPD) • Accidental TPD • Accidental Death • Funeral expenses • Terminal illness

7. Differences between this 3 life product

9. Medical Insurance

10. Allianz 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

11. OCBC 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

12. Long-term Healthcare • nursing at home • daily maximum up to 60 days • Home Savings Accounts • Government service tax is insured

13. Prudential 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

14. Major medical insurance • cancer treatment • kidney dialysis • emergency treatment for accidental injury (annual limit) • Long-term Healthcare • Home nursing care(180 days per lifetime)

15. Differences between this 3 medical product

17. The Underwriting Consideration • the insurable interest should be valid • The 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.

18. The Most Interesting Product 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.

19. The Most Interesting Product 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