Sorry, just checked my record, the CI part falls under Medical (3k) category

By the end of March or early April, you should be getting your insurance statement.

In the insurance statement, it will be listed how much premium is for Life, how much premium is for your CI rider.

You can claim Life amount tax relief but not CI.


*Very important: CI is not medical cover.
No "buts",
No "i thought",
No "my agent said..."

The above is applicable to ILP policies.

Whoops, I was wrong.

Lifebalance is correct.
CI does fall under Medical portion (3k)

This post has been edited by JIUHWEI: Mar 3 2016, 10:32 AM

Dear,

To make things really clear, CI falls under "Insurans Pendidikan dan Perubatan RM3000 terhad" You have got to find out what type of policy you are holding because different types of plan has different percentage of relief for the above mention relief.

Dear,

It does not limit to Investment Link Policy (ILP) only. Traditional policy do have 36 CI coverage!

critical illness can put under "insuran perubatan"?

any insurans for a big guy ah?
i try to get medical card untill now cannot get approval

Dear,

If your plan has a 36 CI rider it falls under this tax relief column.

Sorry but if the insurer had rejected the case due to BMI way out of range, your best bet is to reduce weight before attempting to get from another. Do not fall prey on gullible insurance agent that say you can get it by mis declaring the BMI.

Even after having the weight reduced, you will still need to declare that you had tried to procure medical insurance before and got rejected due to the BMI.

Therefore it is advisable to keep the rejection letter of which it needs to be submitted to the insurer later.

Failure to declare material facts that may impact how the policy is being underwritten may null and void the policy.

That is absolutely correct.

Ps. Thank god someone got what i mean! Try typing that post on an iPad!

Dear,

Sorry you got rejected. Its hard understand the term "Big Guy" what was the reason given for your rejection?

But! i thought a Trustee needs to be over 18?
The unknown nominee which got auto trusted is a 10years old kid....
okok...i got what u guys mean..sorry just rubbing more rubbish in
and you shd change to a surface pro man.....dump the ipad.

Anyway i think insurance is impt la....but i just want to ensure things are on track as i am in the midst of upgrading my life policy and this thing have to happen...

Sure got, you didn't ask me only

sure gt, see whether life balance want to sell onot lo

Are you insured? Or over-insured? Or you’re unsure of your life insurance situation? Here, we provide frank insights on medical insurance, focussing on various types of critical illness insurance that could help to unravel your dilemma and discover solutions in medical insurance.

Q1: My company provides medical insurance for me. If I am hospitalised, the hospital expenses will be paid for by the insurance company. However, my agent says that I need another medical insurance to cover for critical illnesses. How many types of medical insurances are there?

A: Medical insurance, also called health insurance, provides you with financial assistance if you suffer from a medical condition. There are 2 main types of medical insurances – Critical Illness Insurance and Hospital & Surgical Insurance (Hospital Insurance, for short). These two types of insurance provide very different coverage; one pays you a lump sum if you suffer from a medical condition, the other reimburses you the actual medical expenses incurred if you are hospitalised.

Critical Illness insurance pays a lump sum if you suffer from one of the 36 critical illnesses defined in the policy contract. You can use this payment to pay for treatment of the critical illness, for costs of rehabilitation or nursing care, for purchases of medical tools and equipment to support your disability or even for costs incurred in renovating your house to be more disabled-friendly.

Hospital Insurance reimburses the actual expenses incurred for the treatment of your illness in a hospital. Besides paying for the cost of in-hospital expenses, it also pays forthe cost of initial diagnosis of the illness prior to your admittance and for follow up treatments after being discharged from the hospital.

Q2: My brother wants to terminate his hospital insurance because the insurance company wants to increase his premium even though he has not made any claims before. I have been trying to convince him to continue with his hospital insurance as one needs the protection of hospital insurance to cover for the increasing cost of medical treatments. What would be the options on this?

A: You are absolutely right to convince him to continue with his hospital insurance policy as everyone needs the protection it provides. People who do not own one is deemed to be insuring the risks themselves. In insurance term, this is called self-insurance.

The main advantage of insurance is the sharing of risks where the insured pays premium into a pool. If the insured event happens, a sum of money will then be taken out from the pool to pay for the loss arising from that event. The premium paid for transferring such risks into the pool is very much smaller than the financial loss that could arise if the event actually happens.

The costs of medical treatments have gone up every year in view of inflation; for better healthcare facilities being built, better services, introduction of new and more advance tests and procedures, more advance diagnostic tools and equipment being used and more effective drugs being prescribed. All of these are expensive and will add to the increased costs of medical diagnosis and treatments.

It is for the above same reasons that premium for hospital insurance cannot remain the same throughout the policy duration. The premium for hospital insurance is not guaranteed and will increase as the costs of medical treatment increases. If the total hospital insurance claims are high, it will also contribute to an increase in premium. It is, hence, important not to abuse it. Most insurance companies increase the whole portfolio rather than on individual basis, so that the increase is almost negligible in cost to policyholders.

It is advisable for your brother to reconsider his decision and to renew his hospital insurance while he is still insurable and can own one. Premium also increases with age; the older he gets, the higher the premium.

Q3: I am now employed as a manager and my company pays for my medical expenses when I am sick or is hospitalised. I am considering changing my job for my career advancement in the near future. In doing so, I will be left without any hospital insurance if I do not own one myself. Will I be ‘over-insured’ if I am to purchase another hospital policy now?

A: You can be ‘over-insured’ if you possess 2 hospital plans at the same time as you can only claim from one policy at any one time. Hospital insurance reimburses you for the actual cost of hospitalisation. Once you have been reimbursed for the hospital bills from one policy, you cannot claim again from the other policy.

Having said that, the question of whether you need to purchase another hospital plan will depend on your needs. There are circumstances that may justify the need for more than one policy.

If you are to leave your current job, you will be exposed to periods when you will not be covered by any hospital insurance. In such a situation, it might be worthwhile for you to own hospital insurance yourself without having to rely on your employer. Further, there is also the question of whether your new employer will provide you with hospital insurance.

People who will be retiring in the near future may want to consider owning their own hospital policy before they retire. As one ages, the risk of being ill is very high. Insurance companies may not offer hospital insurance if your health is substandard.

www.liam.org.my

Till now still got people believing that insurance companies are there to protect them.
But the fact is, they will take back the umbrella when you have trouble.

http://www.chinapress.com.my/20160202/2000...F1500%E8%90%AC/
BTW, a good article to read. Happened in different place, but still the same thing, insurance agent cheated the fellow.

Your insurance annual SLAPP (Statement of Life Assurance Premium Paid) should have a note on how your insurance is categorised:
Medical
Life
Medical/Life

For my GE Critical Illness insurance, the SLAPP states that it's categorised under Medical/Life. Meaning for tax rebate purposes, I can claim 100% under Life Insurance or 60% under Medical Insurance, not both.

Be careful not to blindly claim 100% under medical insurance.

thanks for your explanation ,my insurance is solely for" life insurance "from the stmt i received

If you are not clear, you may call up the insurance company and refer ur policy and they will let you know how much is going for life insurance and how much is medical insurance.