Without investment link means your premium will get higher each year

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

Standalone medical is far beyond the par of investment linked medical plan now.

Major reasons are that stand alone is cheaper in any age caps compared to ILP. Prove can be found out on both plans holder policy under insurance charges schedule.

This guideline had been imposted by bank negara to all insurance company including the agents Commissions and all the hidden charges.

Old plan holder do not find this in your old policy, only recent years bought do hv. If yours not showing this, you cam request your agents to get it for you.

I wanted to highlight here is regardless traditional medical plan or investment linked plan, the insurance charges is quoted based on your age, no insurance co quote you regardless your present age, whereas investment linked medical plan, they used the term 'premium' to include all charges.

i just sharing on my concern of anyone who is interested to get insured and avoid them being twisted into one of the burden in their lives

Sorry to avoid misunderstanding about bank negara rules and regulations. What I mean is all insurance company must attached all the charges in the policy. Charges such as insurance charges schedule, commission distribution schedule, non guarantee premium vs investment schedule, management fees scale charges.

You can clarify it from your policy first page with bank negara contact number and address. Bring your policy to them and ask whatever info or related documents from them, they are happy to serve you.

If whoever feel being cheated by insurance co, you can go and seek their advices.

In Malaysia, insurance company don't cheat you as there are contract stated black and white with you. What I only can tell based on my knowledge is only agents tricked you, but some agents also innocent because they selling the products because the company asked them to do so without fully understand the product values.