Dear,

P/S there is no such thing as 100k to 120k sum assured, very unethical to give such a quotation. It has to be clearly 100k or 120k.

Dear

This is orange to Apple comparison.
Do ask both agent to quote something similar. Only then u can compare

Only the company will be able to calculate it for you based on the money you have withdrawn

What's the reason you wanted to upgrade your room? There will be no penalty on upgrading the room & board upon admission in Great Eastern, the only thing is you have to pay the different between the room you went in and the medical card room. Unless you wanted to upgrade your annual limit to a higher limit.

Your priority should be increasing the sum assured of your life/TPD/36 Critical illness and early 36 Critical Illness. You may ask your Great Eastern agent for a plan call Great Early Living Care, I think it suits you

Few general notes...

1) it is always not advisable to cancel existing policy to buy new one. given you just bought yours last year, it is still the best that GE has. and very competitive compared to other companies.

2) If you want to upgrade the R&B 150 to 200, just do it with GE. should not cost that much. The GE numbers you show is if you upgrade right?

3) Btw, there's no 1-year no-claim period. Waiting period is for normal disease 30 days and 120 days for certain prescribed illness.

medical card w/o investment linked. is it still available in the market?

it seems to me no agents wanted to sell them.

yes, available.

in a way, yes.

I think some Takaful scheme allows it. E.g. BSN

Without investment link means your premium will get higher each year

Still available in the market. What makes you think so ?

You may not searching hard enough or you approached the wrong insurance co. But i do agree most agents dont sell standalone medical card as income matters.

For standalone medical card plan, most agent only get few hundreds Commission but for investment linked , they earn 4 digits. So which one do you sell?

On top of that, most insurance co only brainwashed agents to get sales. It is not like old days which they care for your protection.

Of course they are plenty good agents out there which care more about your protection than their income.

Hello All
I'm new here.
Looking for medical card and did some checking around.

Need advice/sharing on below
1. GE medical card - Is this cashless card or your it's pay first and reimburse?
2. On traditional medical card versus Investment Link, in long run which is better from optimizing our money. Meaning, if I buy traditional medical card and the difference I invest?

Thank you for your sharing.

Hi there,

1. Medical card as long as it's non-deductible or "co-insurance", you don't have to pay first and reimburse. That situation will only happen if you so happen to admit into a non-panel hospital or somewhere overseas. Then it will be on pay first and reimburse.

2. A standalone medical card vs a investment link medical card is like this
- Standalone is just the medical card without any rider, the overall cost is cheaper when you're younger, but as you grow older, you will pay a higher cost of premium. Furthermore, you won't have any riders like waiver of premium in the event you're fall ill and can't afford to pay for the premium anymore.

- Investment medical card comes with an investment return whereby you pay a premium every cycle, and this premium will be invested to get a higher return which will be used to pay for the increasing cost of premium every year. The long term plan is cheaper than the standalone medical card as the investment factor kicks in the reduce your total cost of ownership. You also benefit from add-on riders like waiver of premiums to waive off the premium you need to pay in the event you succumb to total permanent disability or any critical illness.

AIA also offers medical card of such with annual limit above RM1 mil and no life time limit with no co-insurance.

Feel free to inquire

Dear

1. You need to pay medical card in monthly or yearly premium installment

2.on traditional medical card, it's definitely very cheap, but the coverage is not up to par, as the insurance annual limit will be lower and there's co insurance.

3. Investment link medical plan has a far better reach medical plan structure.
a. No co insurance
b. Annual limit of up to rm1.2mil
c. Can add lady care
d. Cheapest premium payment every rm100/month for the protection.. But based on ur age, living lifestyle and occupation to determine the price.

Thank you for sharing and agree on the Premium waiver rider for Investment Link.
However, in Investment Link, the investment returns are NOT guaranteed.
I have heard cases from friends that after 5 years or so, they are required to TOP UP in order to support thier policy.
Note ... thier are just Medical card investment link without any others riders.

This is my concern here. So thinking of traditional plan and the difference I invest in investment vehicle that can generate at least 5 % to 6 % (ASNB).


Any comments?

Hi,

I will need to see your friend's case on their policy which you mentioned 5 years later they are required to top up. Either they have been invested into really high risk funds, they have drawn out some of the premium earlier or the premium quoted was insufficient to even generate any return of investment. However this is just my assumption until I can look into their policies.

As far as I know of, there never been an incident where an insurance company make 5 consecutive years of losses in their investment policies to completely wipe out your cash value. However I am not saying this is impossible. The likeliness is rare. You have to look into the insurance company as a whole, would they want to take such a high risk investment on your premium and make losses ? They are still a profit-looking company. The insurance company will always try to make positive outcome rather than the negative.

However, if you're not looking into any investment link policies, you can always opt for the standalone medical card where you bear the cost entirely without the investment return portion which comes as a bonus.

_________
This is my concern here. So thinking of traditional plan and the difference I invest in investment vehicle that can generate at least 5 % to 6 % (ASNB).
You will want to have a policy that you don't have to worry when you're much older whereby you're probably retired or bed-ridden. And it will still cover you without having to worry about paying the premium should you have waiver of premium and so happen to have succumbed TPD or 36CI. And with cash value that you gain while you have gotten this policy at your younger age, you can rest assure that it will last until a desire age.

Again, investment comes with risk, you have the option to choose lower risk funds such as balance funds

This post has been edited by lifebalance: Mar 17 2016, 11:18 AM

You can try to have a look at AXA smart optimum care. If you choose the deductible option, you get some discount. You have the option of changing it back to a non deductible one before age 59 for free too. That way, if you combine your company medical insurance with this, you don't have to pay so much. And if you buy this medical card directly without an agent, you get a bit of discount too.

Edit: If you're worried about the annual limit and others, get the most expensive plan then. I think its still worth it to go for this plan + do whatever investment plan you have (if you're invest savvy la)

This post has been edited by ohcipala: Mar 17 2016, 11:39 AM

Just be caution that when you're opting for any feature in your insurance policy, once you've succumb to any disease and you wish to upgrade your medical card later on. You will not be able to do so as you will have to declare your health when you wish to upgrade your insurance policy.

So always opt to get the best medical card benefit rather than a sub-par. Of course, this will depend on your current budget as well. If budget permits, get a good one.

Otherwise, here's your scenario,
1. You're covered under company insurance and get a deductible personal medical card with such and such benefit.
a. You're diagnosed with critical illness of any sort
- Upon resignation from company due to company retrench, close down or firing you due to incapable to perform normal task anymore
= no more company medical card and depend on deductible personal medical card.
= after that you try to upgrade your medical card
= can't do so because you've existing illness, upgrade rejected = stick to old medical card which is probably having low annual limit and worse still with deductible, you'll have to fork out extra money for every time you're admitting to the hospital.

You get what you pay for.

OK. Here's an excerpt from the policy wording.

Policy wording can be downloaded here


Attached thumbnail(s)

Based on the wording, it's good that the benefit to change it to non-deductible is allowable. However, the risk of staying with a lower annual limit is there because normally if you try to leverage on a company medical card, you would be opting for the cheapest plan to leverage on the cheaper premium.

If company's medical card covers rm20k, one can opt for rm20k deductible and get 50% discount. Whether one opt for cheapest plan or not, it depends on his/her budget/preference. That 50% discount might help one to get the most expensive plan too, no?