if you are expose to high occupation hazard as in accident during working den your policy are applied as high risk occupation during your application, which means your premium rate will be charge higher. if tats the case maybe you can reapply again but will most likely have to go thru some check-up issued by the company.

is really strange if you said you are in good health but you're manage to fin up ur lifetime limit even if it is due to accident ^^"' UNLESS ur lifetime limit are way too low >.<''

say someone bought the lowest medical coverage, just take pruhealth 100 for example. coverage is rm50k annual, rm500k lifetime. coverage till 70.

say this person is 30, but someone is very unfortunate and encountered 3 accidents (nothing work related, say maybe road accident) before he's 50. and say the surgery and related costs came up to RM510k.

assuming he could make claims more than 50k annual (pru has some option for that, i understand) and he finished his lifetime rm500k and wanted to get another medical insurance at age 50.

are you guys saying insurance companies may not want to accept him? and prudential itself may not accept him? can't be, right? yes, maybe he has to go through medical checks, yes, maybe the premiums will be higher due to his history of claims. but surely he will still be able to get some cover?

if this is the situation, everyone will be scrambling to get the highest possible medical coverage, e.g. pruhealth 400 (1.5 million lifetime).

just wondering out loud

lol if that person if so suey den i am not sure ^^'' fin up 500k o.O
maybe you can try to ask your agent bout that to clear up?

you really have to make sure again with your agent ^^ tats the best way to avoid any trouble and it will clear your problem ^^

btw, 500k is already not a low coverage. If it happen that the person only encounter 3 accidents and after that he is fully recovered ( without any fractured or broken body parts), then the company might consider accept him. However, normally people will not use up so much in accident without serious permanent injury.

On the other hand, if it happens that the person used up the limits not because of accidents but illness such as leukemia, kidney dialysis, or cancer treatment, etc. Those illnesses need continuous treatments and when he used up all the limits, do you think any companies will sell him and then they need to prepare to settle the bills more than the patient ever pay? (lets say RM 500 a year, 50 years cost bout 25000, just a claim might cost away 30k).

Let say for the same situation you given above, company has right to not accept you, you have no legal binding that company has to accept you. It may just happen that no companies wanted to accept you. I have a lot of customers unable to buy medical cards because of that. Not that you need to buy the highest, but normally people always have the mindset that ' i just want the cheapest and lowest protection only'. More than 300k would be fine.

This post has been edited by weikian: Jan 4 2010, 01:30 AM

Hi Poolcarpet,

I would agree with weikian on this note as you can't use up RM500K for just 3 road accidents unless it's a serious damage in which case he will not be normal healthy person anymore to purchase insurance as insurers would be seeing him as a high risk client.

In this scenario, the insurer has every right not accept his proposal for insurance. These are usually dealt by asking the person to go through a thorough medical check up to see if there's any chance for his past injuries to cause any further issue. Depending on the medical opinion, they're either given an option to purchase with or without loading. If the opinion is adverse, then his proposal would be declined all together.

While it's not necessary to rush to purchase the highest coverage medical card, it's a good thing to have if you can truly afford it as medical cost is on rising inflation rate of 15 - 20 % every year and of course it would minus all these unwanted hassle later on as well.

The key is still the same, get something you want and can afford at present as it's always good to have something than nothing.

Cheers,

HH

ok thanks all for the feedbacks and points. i have gained further insight on this. i have not bought any medical insurance yet, and i don't need it at the moment as company does provide cover, but these are good points that i can take if i decide to get later. thanks again!

Thanks for your replies. Actually its post retirement insurance that being offered. Start paying premium now - coverage 60 - 80 yrs.

No worries Poolcarpet.

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Added on January 4, 2010, 2:59 pmRJdio,

Are you referring to a retirement plan or medical insurance?

Cheers,

HH

This post has been edited by HHalphaomega: Jan 4 2010, 02:59 PM

start paying now and coverage only start from 60 till 80?
if anything happen bfore 60??

i think their company might already provide medical cover before 60.

Yes, it only makes sense if they have already provided coverage for incidents before 60.

And if all else fails, sue the one liable for the accident in the first place. Your insurer reserve that right too, I believe.

My friend offer me one plan as bellow attachment, looking for somebody advice on it.

Nice plan. Just make sure with the agent about the savings. Because i think the benefits they put in is quite a lot. And the insurance charges will increase with your age. Maybe your premium and savings will not be able to cover the high insurance charges at high age.

Too many riders. Just get what you need. Protection and Hospitalization - that's it.

As an ILP product, protection should be maximised but the protection offered in this product is rather low if compared to others available in market. Bulk of the premium is being taken up for it's medical and other riders. The medical coverage is also providing coverage only until age 70 when most others provide till 80 years now.

No, it is not good.

Your insurance policy only covers up to RM50k for PA and with very limited accident medical benefit.

Taking out the investment part, you can buy a RM50k PA with 5k accidental medical coverage with just RM80 per year!

But you have to pay RM1800 per year.

I think you should buy general insurance. look at this: www.kurnia.com, www.axa.com.my, www.allianz.com.my

I agree with epalbee as the cost vs benefit is certainly no value for money. ILP products would offer ONE of the best protection is it's packaged properly.

guys, want to know, why buy insurance? if an insurance agent approach you and suggest you to buy their life policy will you buy?

basically what u need is buying a medical card and a Personal Accident. you can surf website like AXA, kurnia, allianz.you can get pretty good coverage with only RM60/month. (you get RM210k medical and RM225k personal accident)

I personally do not afford to entertain friendship insurance, which is measured by money. But you have to tell them nicely. Unless you are rich and willing to pay 20-30% of commission/admin fees.

Ask PJusa for more information.