Yes I do agree in some way that hospital cash benefits can offset the co-insurance, but again the policy holder must pay 1st then the insurer will only reimburse back say after 2 weeks time. This is ok IF considered the amount is small. If the amount is big, and if the policy holder may not have that much of cash? Remember that hospital cash benefits are only applicable for in-patient. Out-patient is not covered.

Here are 2 scenarios, say if a person is holding a GE SmartMedic where co-insurance 10% for out-patient kidney dialysis and out-patient cancer treatment.
Cost of chemotherapy: RM10000 / session meaning the policy holder has to pay RM1000. And since this is an out-patient treatment, a hospital cash benefit will not reimbruse anything because it's not an in-patient. So every chemo session, the policy holder will have to pay RM1000.

If this person holds a PRU's PRUHealth where co-insurance 10% up to a max of RM2000 for out-patient kidney and out-patient cancer treatment. Same scenario up there will happen.

Say if this person gets a Allianz PowerLink's Medicover where NO co-insurance for out-patient kidney and out-patient cancer treatment. So virtually the policy holder can just come and go after the session.

Which will you guys choose?

This is just a comparison i've gathered around and it is not serve as an arguement basis. Thanks.

This post has been edited by chew_ronnie: Jun 2 2010, 12:35 PM

Point noted chew_ronnie. What you say is somewhat true for the scenario you have furnished above. My personal take on that is to use CI benefits you ought to receive when you're diagnosed with CI such as cancer or kidney failure. This is why it's important to have a good package consisting of all the plans such as life, critical illness, medical card etc.

I also believe that when comparing product, it should be done holistically to obtain better understanding and permit informed judgement. This is my opinion and I'm sure others have their own as well.

yes thats true. Whatever plan you go for must be taken in a package that covers all main areas. Stand alone plans only benefit you in 1 way. But overall, i find that all plans somehow add up to roughly the same benefits. U just need to choose one that gives u the best cover and returns on investment.

Yes, CI claims are entitled when it is in the very severe stage. Both kidneys have to fail before a CI claim can be obtained, same goes to Cancer as it has to be manifested out of control only a CI claim can be obtained?

My question is, if this person has A SINGLE kidney failure and the other one is not working in its optimum condition, kidney dialysis is required but a CI claim is still not entitled.

If cancer as it's beginning stage, its either operation to remove the lump or chemo or radiotherapy. Still not qualified for CI claims.

Macam mana?

I'm saying these by putting my myself in a policy holders shoes NOT from the aspect of an insurance agent.

This post has been edited by chew_ronnie: Jun 2 2010, 06:06 PM

yes i do support what ronnie chew said.

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Added on June 2, 2010, 8:54 pmAgent vs Agent

What can i say? Im a layman and im going to speak with facts, truth and probably stupid to some of you but i remain very firm in one thing, Pure simPle . Insurance in this country is laying out craps and regulations with the stupendous promises. And guess what? The professionals , bankers, lawyers , tycoons are alll falling for it .

We all heard Bank Negara created a fair and healthy standard for bankers and insurance company. True or False?
This is like Doctrine or Oath to be taken seriously so that FAIR POLICY is created . Everybody falls for it and treaty was signed . Guess what, the big monopoly board is not only Classic Board Game but spreaded to other themes like Monopoly Star Wars, Monopoly Celebrities etc... you get what i mean but the game is still Monopoly.

I can write a book for this and can even made the stupidy out of any professionals who are willing to take me into the ring. One thing im sure in life is that our school system never taught us to fight back or question back the teachers. We absorb all the mistakes as well given out on the blackboard. Only once in a while one or two students are able to correct the arithmetic mistakes of the teacher and you be wondering sometime what happen to the 40 over students in the class that pass the teacher work even when mistakes had been done.

Are you one of the 40 students sitting in the class not going to question the teacher just like right now nobody ever questions the insurance policies or sincerity to look after their client ? When i started to look at my old insurance policy , i realized that I been paying 20 years for a life insured sum of RM 10k. thanks to Mr Alvin from GE for going into my detail policy. He too knew i was under covered by the policy . But 20 years ago, insurance agents were just selling whatever they have and not even telling you the currency shrinkage .

Anyway, fast forward to now and i can see the things are getting more complicated with insurance policy drafted out by Prudential with all the riders with different brand name provoking us with advertisement that i cannot even understand. I for once rather deal with straight up policy and very disturbed with American policies these days. AIA is bit better but i think their current financial shakedown and also the Co-Insurance is one hurdle i don't really like. As for GE, they are very straight forward and i like them too but also the co-ins. I would say Allianz and ING is pretty much better in term of reaching the Finish line circuit but I go for Allianz anytime . Why?

Thanks to Mr Ronnie of Allianz for putting lots of effort into client shoe and he still didn't get the Sales from me, not because they are weak but because i was face with two dillema.

What If?

These words put me into Coma and I sort of wake up suddenly .

What If i paid my premium for 20 years and I am face with problems with Insurance policies that is late or reluctant to pay me. ( For eg. My lonpac insurace rejected my claimed)
What if I can get pure and professional medical care without the help of Insurance by going to Public Health care.
What if i need more money to buy other medical drugs, equipments, treatments in overseas etc which were not covered by the Insurance
What if your money all dissapear in the investment linked and premium is increase.

And how many of you had insurance bought by your own family while you was a child?

If you are able to save RM 1.5K annually for the premium , can you work harder to save RM 2K -3K yearly for your healthcare instead of putting your money in the insurance. I think the reinforcement of this thinking will work and in 10 years , i could be saving RM 20K for healthcare.

And, What IF children need education? Education cost is higher and needs more saving than healthcare does. Even if you dump in RM 2K into Insurance policy, in 20 years its only 40K which will not even be enough for education . We should be more worry of their education than healthcare even though both seem to be urgent.

Estimated that parents need to keep 5K per year now if they want to sent their children for further studies. And that still will not be enough because at least education in overseas will cost you about 200K -300K.

So reality is very sucks and i wouldn't even worry about child insurance as yet but people who are reaching 40-50 years old. By now, we even find that it's too late to buy insurance and they are also careful with people like us as we are more prone and smarter these days to find out the problems and get check up . The sick thing about Insurance is that the policy has a "face" , how will you think he looks like? I say his look is handsome or pretty with a "Poker Face"look.

If for one thing that i will buy an insurance policy is when we write the coverage and terms for them not the opposite way. Anything that asked you to sign a contract without a reflection , i say go to hell. So i guess, i have written the ugly side of the insurance scam in this country and for me , i find better Universal healthcare in other country if i have to , even to Cuba .

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Added on June 2, 2010, 11:41 pm

This post has been edited by hackwire: Jun 2 2010, 11:41 PM

Bro,

Thanks for the testimonial although the sale did not went thru. Your concerns are noted and if there are any good plans launching will definitely give you a ring.

Thanks again.

No problem.
My perspective on public health care change after i visited University Hospital. Although its semi govt but their system still work like govt hospital because of the exodus of patient there.
I waited for 6 hours there and i seen the doctor for 20-30 minutes inside. It was a great interview and im so happy of the doctor for not rushing me off due to next patient. NOw i can understood the long waiting period. I was even given another appointment to treat obesity. Wow! they even have Obesity clinic.

After that i proceed to Welfare dept and request for fund to get the machine for treatment and was interview. the cost of funding is 8K.

If everything goes well in the government sector to help my sleep problem. I don't know what else to say.

.

This post has been edited by hackwire: Jun 3 2010, 08:00 AM

oh, you're lucky. my grandmother waited 28 hours before they attend to her. and then wait another 6 hours for admission.

Yes, indeed you have a very good encounter with University Hospital and glad that you are a happy man now. Bravo to our govt or semigovt hospitals and this time it really helps the nation.

Hopefully in the near future, the insurance companies will change to take care more on the policy holders welfare.

Note: Although I'm an insurance agent representing some company, I'm not the insurer as I can't tell what kind of plans will be introduced in the near future. I'm not protective towards the insurance industry nor being a critics to them.

Thanks Ronnie, i am still keeping my finger cross on the subsidy of the machine through the welfare. The reason i am going to the welfare is because i want to know if this is one of my basic right as a malaysia citizen. Of course the welfare dept not going to give out the money easily when someone can still earn money. As for my case, my sedantary life and afternoon nappy with weak body is affecting my job concentration and even driving.

Anyway, insurance company have to be more realistic abit on what they are offering . To me even if your insurance policy says that "No Lifetime Limit" is very unrealistic as they all even know that "it never happen before"

They do have Risk Management personnel and even computerization to tell them what and how much risk they might get . The percentage of people getting this disease and all the payout before based on claimed can even be breakdown till they know how many percentage thier risk is when they sell this policy.

Come on, even Goh Chok Tong of Genting Highland or Berjaya Vincent are high rollers .
So don't be a fool thinking that all your life is pretty covered and workout fine. Govt Hospital is the alternative and make sure that u guys work for large corporations that took care of everything too. If 1 person or two can change after reading this, wow.... imagine if our malaysia middle class will stand up to fight for better social welfare...And i will be more happier if insurance agents can sell a better policy one day and be proud to use the word " We can help you" . Not this word ok... "You help me, I help you"

This post has been edited by hackwire: Jun 4 2010, 08:35 AM

Anyway, insurance company have to be more realistic abit on what they are offering . To me even if your insurance policy says that "No Lifetime Limit" is very unrealistic as they all even know that "it never happen before"

hackwire..
i agree with you about this point..

some of insurance company keeps promoting their medic card NO LIFETIME LIMIT..
but..
there are lots of limits on it..
for example u are only allow to claim 40k on kimo..
then a kimo cost bout 10k..
you need six kimo that already cost u 60k or even more...
but the limit only 40k ..how then??
then there was a limit on each cancer which u can make a claim..
then for sure larr..
NO LIFETIME LIMIT ma..
because already got all the limit on all the illness..
already listed down each cancer u can only claim how much already..
sure NO LIFETIME LIMIT d..

some insurance plan still keeps promoting their medical coverage till 99yo..
yup..it is definitely a good things..
but ask yourself..
how long we can breathe on this earth..
do we really need such coverage..
dont ever forget ya..
it will charge in your premium and you going to pay for it1 o..

so what i wanna say is..
choose the one you really need it1 and the best plan that can cover what you need what you want..
dont just listen listen listen only..


just my opinion ya..
correct me if i was wrong ya..
we learn 2gether ya..
^^

This post has been edited by Veron88: Jun 4 2010, 02:51 PM

smarter citizen makes a smarter policy and makes everyone happy.

That's why some insurance companies including Great Eastern now have the early payout for 36CI. It means a single kidney failure is sufficient to entitle for claim.
This product/rider is knows as SEPCC Smart Early Payout Critical Care

Actually those No Lifetime Limit are very expensive. Some time ago my client was impressed with the 'No Lifetime Limit' by another insurance company and he was considering to sign up that plan for his mom and he consulted me. I calculated the total premium for him and it costs a total of RM100k without any cash value (coz it is a standalone medical card) if want to pay for his mom from the age of 60 till 80 years old. That put him off.