For your parent/senior citizen (above age 55), which insurance did you buy? and what is your buying factor?

Anybody got any idea which insurance is the best for senior citizen?

Thanks

TS, the insurance in term of what policy? Medical, PA, Life & TPD, CI?

There are pros and cons for different type of policy for different insurance company.

At 55 yr old the only affordable insurance is the PA.

For medical or CI the premium is gonna be very high and there is also a medical check-up to disallow any pre-existing. Logically at that age, the person also do not need lump sum payment i.e. CI, life or PA as he/she will not be a 'breadwinner' What is required is medical coverage but high cost + pre-existing make it not viable.

Get your insurance when you are young.

Honestly, I'm not quite sure but definitely medical insurance is a must...
For you, which one would you recommend for senior citizen/parent?

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Added on March 1, 2010, 2:15 pmThanks for the advice, but it's meant for parent.

This post has been edited by arthurlwf: Mar 1 2010, 02:15 PM

I would recommend Alliance MedCare Plus. It was a plan offer by Alliance Bank and covered by Allianz. Anyway, it was a stand alone medical card and the premium will increase when getting older.

U can get the brochure from this link, contain quite a lot information that we need. Also can get more details from Alliance bank.

https://www.allianz.com.my/cls/content.aspx?t=854&m=0

Actually i planning to get this for my mom as she rely on company's insurance only.

This post has been edited by almeizer: Mar 1 2010, 02:25 PM

Thanks for your input.
Is there any buying factor compare to other insurance company (e.g. Great Eastern and Prudential)?

Buying factor could be linked with likely service you're going to get from your agent as otherwise the products are almost identical in terms of their benefits. However, I would also look into items such as pre & post-hospitalisation days, outpatient cancer treatment whether it's as charged, outpatient kidney dialysis treatment whether it's as charged and also if it's renewable up to 79 years.

I heard that Great Eastern is best for Medical Card as in they're the fastest to get approval/non-approval?

How about Great Eastern medical claims? Is it the fast too?

If not mistaken, if u provided complete information for the claim, normally most insurance company will take 14 business days.

However, if u got medical card, I dont think u need claim as u dont need to pay >"<

unless u have daily hospital income or u paid the co-insurance (not sure whether claimable afterward).

This post has been edited by almeizer: Mar 3 2010, 06:19 PM

If you're able to provide complete documentation then your claims would be fast otherwise it would be delayed. Great Eastern claims have been good to date provided the documentations are complete.

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Added on March 4, 2010, 8:30 amThat's right as you only pay your co-insurance element (if it applies to you) and tax. Almost all major hospitals are listed as panels for Great Eastern and other key insurers in Malaysia.


This post has been edited by HHalphaomega: Mar 4 2010, 08:30 AM

From the response, seems there are two insurance company that's been recommended... Great Eastern and Allianz

Between this two, which is better in terms of the policy, claims, medical benefits, etc???

actually i want to add one more brand... AIA
medical card can get unlimited lifetime limit, max renewal age up to 100
CI pay once can claim 3 times( cancer 2 times X 125%)

looking to buy medical insurance for my dad (age 65). mainly to cover medical expenses in case of hospitalisation.

any recommendation?