Just did a comparison for Pru & Allianz medical card

Premium
Allianz: RM 1900
Enhanced Medicover covers up to age 91
with waiver of premium
life coverage 71k (cant reduce due to system constrain)

Pru: RM 1950
PruFlexi Med (RM300 deductible) covers up to age 80
annual limit 100k
with waiver of premium
life coverage 10k



Disclaimer: For more detail and accurate benefit of the insurance policy, please refer to the actual quotation.


Do you have the cost of insurance table for old medicover ? If yes then I can do up a comparison as well

This post has been edited by financialfreedom: Dec 18 2013, 01:36 AM

Powerlink is an investment-linked plan, so the premium is not fix... It is subject to the cost of insurance and cash value in your account.

For example, Mr. A bought a policy at age 30 with RM3000 premium
At age 60, the cost of insurance might be RM5000, so the difference of RM2000 will be deducting from the cash value. If there is no more cash value inside the account, Mr A have to top up the difference, ie paying RM5000 or else the policy will lapsed.

Depends on your preference, there are few key things that you need to consider

1. Annual limit
If you think that it is possible to have medical claim of RM 100k and above, you may consider Allianz

2. Coverage term
For Prudential, you can choose to cover up to age 70, 80, 90, or 100. However the price also skyrocket for longer term.

In this comparison, I choose up to age 80 and RM 300 deductible, to have the similar premium for comparison purpose. To cover up to age 90, the premium cost more than RM2600

3. Room & board limit
if you are die die also want to stay in single room type, Allianz might be more costly due to the co-insurance of 20% for staying in room that exceed R&B limit, so you may consider about Prudential which you just have to top up the difference

4. Co- insurance & deductible
Allianz: Co-insurance means sharing the cost with insurance company. If you stay in room that exceed the R&B limit, you have to bear 20% of the total medical bill, up to maximum of RM1000.

For example, your R&B limit is RM200, but you stay in room that cost RM250, and the total bill sum up to RM10,000

you have to pay RM10,000 x 20% = 2000,
but max is 1000, so you have to pay RM 1000

Prudential: there is deductible of RM300 in this plan that I choose for this comparison purpose, which means that you have to pay RM300 everytime that you are hospitalised. There is option to opt for 0 deductible, however, the premium is roughly RM300 higher.

In short, I would say Allianz would be better choice if you don't mind staying in 2 bedded or 4 bedded room.

No annual limit is quite useful, since buying insurance is about transferring risk to insurance company, so it is good that you dont have to pay so much in case the medical bill is more than 100k. Especially when this feature is included with premium which is similar or even lower than other insurance companies.

In fact, Prudential also have this "Annual limit waiver" rider for Pruhealth medical card, but it is costly to addon that rider.


I think cost is a crucial factor, although premium is not guaranteed and insurance company may increase it anytime just by giving notice to client, but currently, prudential cost is really much higher for the same coverage term.


*no offence to pru agents @uncle roy, just pointing out facts that i know, do correct me if i'm wrong.