You may want to understand that out of the 36 critical illness, a lot of them would require hospitalisation for treatment, which makes it that, you will be covered under company insurance. or there will be cases like parkinson and alzheimer, which would be too far gone. i'm sure it's not as straight forward to cover a foreigner especially health related insurance. so i guess the real question is really how much will that insurance will remotely beneficial to you, especially when you purchase in another country.

It is known to those in the industry that Allianz medical insurance is somewhat cheaper than their competitors, not sure if that applies to CI insurance as well as well

there are CI standalone plans, but one would need to get it from a General insurance company. or there's something known as Ceria Malaysia, easily purchasable through certain banks (i.e. CIMB, AmBank, HLB). You may google that.

Thank you adele. yes medical treatment is expensive especially for critical illnesses and post hospitalization treatments also can be very expensive. that is why i am interested to get a plan.

Do you know any reason Allianz is cheaper? Are their benefits, service, and claim experience on par with other companies? there is no free lunch in this world. just wonder if they are cheaper than other insurance companies, are there any known bad points which I should be aware of.

thank you.

i can't explain why allianz can price their products cheaper. not a secret among those in the industry. but i'm refering to medical insurance only. it could be other things are more expensive.

but for CI and medical insurance, premium is not fixed. they can increase their price 2 years down the road. i'm saying they can, contractually, they might not, or they won't for whatever reasons it may be from customer dissatisfaction to bad/good claim experience.

for medical and CI, comparison of price is relatively more straight forward, and one may compare before purchasing.

why not a secret?

Thank you Adele.

Can anyone give me a quotation for critical illness insurance plan?

what ur budget?

Around below RM5,000 per annum. but negotiable. I'm not sure how expensive is it.

SCO = Axa's Smart Care Optimum

too expensive when u old age mid 45yr old

How long have u been in Malaysia?

actually given the cover SCO is the best deal you can get in malaysia. the savings in early days will compensate the higher future payments but you will have to handle it yourself - this is not life.

I'd compare with allianz ILP, if buy SCO is far more expensive compare to allianz.

i do annual comparisons - you dont get a better deal from allianz. you need to compund and NPV total lifetime premium for an identical cover to compare. note the annual limit with SCO is 500k per sickness and year. that is according to my data the best deal for a local medical insurance in malaysia - esp. when you compound it.

what u mean by this?
compund and NPV total lifetime premium for an identical cover to compare

means if you want to compare a cover you first convert them all to apples and then you make you sure you look at a uniform pricing regime. comparing an ILP with some possible premium table and a general insurance product with a currently locked (but exposed to inflation) pricing wont work. those are fundamentally different products. that's like saying kangkong is better than cherries (or cherries are better than kangkong). you can say it but it has no verifyable justification.

how did you derive allianz is better? axa sco delivery a better coverage per NPV RM of premium than any other medical cover in the market - esp. if compounded and NPVed for a lifetime coverage (NPV = net present value), taking into consideration a 3.5% annual increase in premiums. since its next to impossible to compare GI with ILP or life only logic dictates that the same is true because the insurers riskmanagement will do the same and apply a generous safety buffer on top - so you *will* always pay more for any ILP or life medical cover compared to a steadily adjusted GI cover because they wont have to apply a safety buffer for (worst case) 80 yrs into the future.

You doing a better comparison than those i know who are doing it as part of their job.

Just a FYI. For ILP, they don't need too much of a safety buffer (i think) cause life insurance company CAN increase it by giving 90 days notice. sames goes to life medical plan. but life tend to have premium in bands of 5 years earlier on. it only increases year-by-year at older age, usually after 70. but obvious PR reasons and other operations reasons, obviously they can't revise the rates every 2-3 years.

Anyway, interesting input, feel like getting a new one myself.

BTW, which PA you get for yourself? probably gonna get one myself.

EDIT: just realised that Axa SCO has this option to switch deductible option to non-deductible option, which is really good for those who are working. then they save up the premium they have to pay before age 59.

This post has been edited by adele123: Aug 12 2014, 09:50 AM

i agree. the problem with life / ILP is they boost either age bands or even uniform premiums which is a real problem to price. furthermore ILP you depend on the performance of the "surplus" so if *I* would have to price it, my buffer would be big so I dont have to come back to customers later too often (PR reason as you say). GI is much more straightforward and will for those reasons give better pricing. i am not sure about the comission to agent for medical riders but this might also play into the game.

In general when you start to mix Insurance with investment etc. you tend you get a worse deal almost all the time.

PA I currently use MCIS supreme PA. Depends on your provisions. After 25% direct customer discount the price is alright.

u mean GI premium will not increase ?

please read posts properly. i wont spoonfeed.

Just something to add-on about medical plan which should apply the same to Axa SCO.

Generally when we upgrade or change plan for medical, it will require for health declaration and may apply the 120 days cooling period rules again. Mean provided we are still in good health then only can change any plan as we wish.

Sometime we too focus about the cost until we forget the main reason of we getting insurance and medical insurance only for a strong and healthy individual. My dad had diabetes in late 30s, so basically no more medical insurance for my dad.