I have changed to a new job that doesn't provide medical benefits.

I have the following requirement:
1. Bypass agent (Save on the commission charges)
2. Loyalty bonus. % increase permanent if possible for Room & Board / Annual Limit
3. Without Lifetime Limit

Those have been met by Lonpac MediSecure Centurial but they rejected me due to my G6PD (shouldn't but too bad.. It's company decision anyway).
1. Direct to Lonpac saves me 15%
2. 10% increase permanent of R&B and Annual Limit every 3 years regardless of claim. Will not reset if claimed.
3. No lifetime limit.

My question is.. Is there anything else that I can do that fulfils my requirement?

1. FSM does give back 30% of commission but I am greedy I want 100% of my commission back.
2. Or should I wait for this to be active. Then for the mean time these few months I am without Medical Card.
http://www.thestar.com.my/business/busines...irect-says-bnm/

Any Insurance savvy /k can help me?

https://www.fundsupermart.com.my/insurance/...!1147954242

purchased an insurance from fsm and I told them just get me coverage and I can max out my 3k tax relief. now I'm covered for 1.5million.

getting my comms back in total of 6k which is the amount of agent comms.

you better not wait. during the time I surrendered my policy and waiting for the underwriting to be completed I'm driving extra careful now.

This post has been edited by Avangelice: Dec 6 2016, 03:13 PM

Medical Card -

go for investment linked medical card (comes with life insurance). The investment linked funds will be used to offset rising cost of insurance as you get older. Traditional medical card will be too expensive to maintain once you hit over 50.

AIA offers 1million annual limit and no life time limit. ROom and board cover increase every 2 years if no claim.

Join as an insurance agent, part time, then buy your own insurance. get 20% commission as "rebate". Can earn side income if you get your frens to buy from you

BNM's direct insurance covers traditional life and personal accident. Medical card still unsure, because you need to learn yourself, what can be covered, what doesnt, do your own claims submissions, and argue with underwriter on what can be claimed or cannot be claimed (which usually the agent will do on your behalf). You also need to study the product details on your own, which normally the product brochure for public isn't detailed enough. Thats why agents have to go for product training with case studies, and take exams on each products to maintain their points, plus periodic conferences with underwriters to discuss their cases, which normal folks like you will never have such liberty.

The danger of doing yourself is that you may end up being under insured, because most people look at the cost instead of needs.
The second danger is that you end up misinterpreting what is covered and not covered.

So my advice to you, become an agent yourself, it fits your requirements 100%


This post has been edited by mobileapps: Dec 7 2016, 11:08 AM

There is another tax relief for medical insurance apart from Life insurance (which is added together with KWSP)

Another 3k tax relief is PRS (Private Retirement Scheme), which you should go for it.

Yeap. waiting for 2017

Haha! Yeah. In the end FSM is still mostly investment linked also. They just market it so that people think they are getting their money back in the end just FSM gets 70% while you get back 30%.
I'll wait for next year for agent free insurances. During this short stint if anything happen there's still government hospital to fallback to. No worries. I have cash for rainy days as well.

Yes I'm aware of my tax reliefs. It would be a side benefit. Now just looking for a good medical insurance.
I'm aware of the benefits of having an agent also, but the cons outweigh the pros. They don't have you in the best interest. For them, it's more of generating more commission and after few years their commission will be gone. Thus, they would be very happy to find you to "reevaluate" your insurance policy and pushing for the investment links.

There's not much fighting required during claims as long as
1. you fully declare the illness prior to the medical card.
2. no hanky trying to misuse the medical card.

fully agree with you on that the fact that these days there are way too many agents around and it has become a cut throat business and gone were the days of professional insurance agents. I and my girlfriend happened to have the crummy luck of meeting young agents. luckily I educated myself before continuing believing my agent who miraculously texted me when she found out I surrendered my policy and saying she can match my new policy given by FSM. I had a look at the policy and again 4 more riders along with a revamped medical coverage.

As highlighted earlier, direct insurance covers traditional life and personal accident only. In fact, you can buy this type of product now, I am aware of UforLife is purely "direct" through online.

Sadly, still couldn't find any other insurer that provide "direct" medical coverage. Hopefully there will be some available in 2017.

prudential lo

Investment linked funds are useful to offset your rising cost of insurance, plus additional surrender value at the end. traditional ones will cost over 2 to 3k when you are 50 and above.

agent free insurance still only applies to life and PA. Medical insurance, abit risky, here is why:

agents need to go through certain hours of training every year and have meetups with underwriters to discuss on cases on what is claimable, admissible, and methods etc. Plus T&C and exclusions and case studies. Agent free insurance basically waters down everything with just a brochure information for you to buy online. There is high possibility is that you will end up making a mistake in filing report and thus void your claim. Like for PA claims, make darn sure the doctor writes in his report the cause of injury is ACCIDENT and not eye problem, heart problem etc, otherwise, no PA claim.

also, those people who r transgenders and purposely take up hormone pills, while they can go online to buy, 100% all their claim will be rejected lol. and 100% hilang duit. Thats my greatest fear.

This post has been edited by mobileapps: Dec 19 2016, 10:48 PM