Not to say better or not.

But the fact is that between 60-80, that's when people usually retire and discover all sorts of conditions that require medical attention.

So I am encouraging you to take up the longest possible you can get.

That being said, yes, there are plans that covers up to age 100 in the market now.
However, it will cost you quite a bit to take it up as a new application.
If cost is a factor, then just take up to age 80.

There are many reason not covering TPD such as overweight or pre existing illness

You might want to consider maintaining your health and get the insurance company to review your policy on the exclusion in the future

HI There,

yours plan may be is Pru Flexi Med.

1. it is advisable to upgrade to unlimited annual limit and lifetime limit which are 1 mil, 1.5 mil, and 2 mil subjected to your health condition is good.

2. Second option, you can add a 2nd medical card with 20,000 deductible while remain the same Pru Flexi Med.

There are some difference and no difference between 70 yrs old and 80 yrs old.
1. the similiarity is : both medical insurance charges at the age of 70 and 80 is same.
2. the difference : the premium for 80 years old might be a few ringgit higher compare with 70 yrs. so, it gathers more saving.
however, both of these two points on above I advice to opt for 80 yrs old because the cash value at 80yrs old is much more higher than 70 yrs old. hence, it will extend the medical card period until age 80 yrs old.

I just bought the GE ILP with Great Medic Xtra & Great Extender plan, the plan cover up to age 99. The plan is still under 'free look' period, I noticed there are two riders; V119 SMX150-99 & V133 SE90k-99 in the proposal (I think these riders cover from age 81 to 99). Since our life expectancy is around 75 to 78, shall I drop these two riders and have more 'fund' to be utilized in the later old age year (age 60-80)?

What do you think the differences of medical cover up to 80 and 99? Justified for the extra premium being paid for? I think...if I can live till 80 y/o is good enough , what is your opinion?

What's the big different in the premium?
If just 20 or 30 monthly no big deal, 2 starbuck gao dim

The medical is not only for you, but your next of kin burden as well
Example your very sick on age 81, your anak or cucu want sent you to gomen or private.
If they just normal folks private may cost them heavily, while gomen hospital have queue as many patients pending.

Then that time your children may have to think hard...
Shall I fork out half my saving to sent my parent to private or just gomen and pray for the best...

Think again...

Thanks for the advise

Just some thoughts... $30 x 12 months x 30 years = $10,800 + compound interest over 30 years = $15k +/-....maybe 30 years later...the $15k worth only $1.5k of today value

off topic...your avatar image looks like a Mit Mirage...you owned one? I have a white Mirage

This post has been edited by clickNsnap: Aug 3 2017, 11:08 PM


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Hi there,

Thank you so much for the explaination. It's so much clearer now. The premium for 80 years old is substantial, but looking at your illustration, a better choice.

As for the second option, I'm not sure whether getting a second card will save me some money. Actually, I'm in a dilemma as I know my 50k on life/TPD and 40k + 40k Critical illness is not giving me the protection should anything happened to me. If I do upgrade to 80 years old (RM110) and upgrade my life to 100k (RM12 x 5), then I'm looking at a monthly premium of RM290 + RM170 which would be a burden!

Unable to decide really!!!

In this case you need to seek someone professional to give you a professional advise rather than asking in the forum. A financial planner would be advisable

Hi there,

Once again, thank you for the advise. Point taken and it looks like 80 years old is the way to go!!

Appreciate it.

Hi all,

I am in my 30s and currently thinking of investing in a health insurance for long term, that is until old age.

Thing is I'm clueless in health insurance. So many options out there and I don't know where to start.

So anyone knows if there's any Malaysia website that can guide us through all the details of health insurance, like what all these stuff means, and how to find what is suitable for us?

When it comes to health insurance, there are many choices out there in the market. With regards to the range of coverage, most of them are pretty comprehensive in terms of hospitalization benefit.

With regards to the definition of each medical clause or hospitalization benefit, it will probably take a whole contract to explain. Which is why you have your contract policy to refer to once you've signed up for your policy.

Some of the basic things you need to know which is covered in a Medical Card are:
1. Pre-hospitalization - covers for cost incurred prior to the hospitalization
2. Post-hospitalization - covers for cost incurred after being discharged from the hospital.
3. In-patient - covers for surgery cost, etcc
4. Out-patient - covers for any accident, daycare, kidney & cancer treatment, physiotherapy, acupuncture

The above is a simplified version, for the detail version, please refer to the insurance policy on what can be claimed.

With regards to choosing the right health insurance, it's more important to choose a professional agent that gives sound financial advise and to do necessary follow up when you're admitted to the hospital on your guarantee letter.

Hope that answer some of your questions.

Here you go bro:
http://www.insuranceinfo.com.my/

Hi guys,

Need your opinion - "will you pay for RM14K+ annual premium for medical insurance that cover your parent up to 99 years old?"

My father's GE medical policy has just ended at age 70. After series of medical checkout, GE loaded 1x of the benefit premium for R&B 200 which cover up to 99 year old with unlimited lifetime limit.

The 1x loading cost RM14K+ annual premium, with the increase every 5 years.

With such a steep premium, will you take this up for peace of mind?

Thanks in advanced for your feedback.

Cheers!

Not much option here.
If premium too high, ask siblings share the premium.
Or save up the yearly premium for later use, some semi private hospital like HUKM are price quite affordable.

At age 70 no major insurance company will insure your parent as last entry age is 65.
Seem like GE is your only option to continue medical plan.

Question: Why don't look for other med option at insurance when your parent is younger?
Your story might give some good insight for other reader here.

With regards to annual premium vs cost of medication.

There is no right or wrong in terms of whether you choose to spend or not to spend on the insurance.

Just do some basic mathematics, if your dad doesn't fall sick in the next 10 years, assuming the rate of premium increases at 10% yearly for the next years. You would have paid a total RM245,436 in premium to the insurance company without making a single claim.

Likewise if your dad does get hospitalized in between this period of time, depending on the amount he has to claim, would it justify the amount paying for the insurance policy ?

If the claim is RM245,436 in the next 10 years, then paying for the insurance is worth it, otherwise, if it's below the amount, consider that you've reduced your losses but at a smaller amount.

Thanks for the feedback guys. Only bought the med insurance for my father when he's 50. Like most parent, they think that insurance is wasting of money and reluctant to even do the medical checkout.

For my father case, getting GE to extend is not easy. It took 3-4 months for series of medical tests and rejected the first time and I appealed for reconsideration but come with further tests.

Yes, there's no other option available for such age except PA.

Thanks Keith.

Yes, was considering from that perspective and also the increase of medical cost plus inflation.

Even the parent bought the medical insurance at young age, the medical insurance also may also quite high when come to age beyond 70.

Medical insurance / cost of insurance of a few thousand at the range of 5~10K range is almost inevitable when come to this kind of age.

that plan covers TPD by default.

by dropping out the two riders doesn't affect the fund allocation because the insurance charge for that 2 riders come in only >80 years old.

Most medical insurance available now is offered to those up till the age of 69 (before his 70th birthday this year).
I don't know about others, but AIA & AIA Public Takaful do.

I'm not discounting the fact that it is quite a high premium, but I want to urge you to not take the risk on your own.

Yes, there is a chance for your father to stay healthy into his final days.
Then all the premiums paid would feel like a "loss".
Yet, there is also a chance for the unfortunate.
If only we knew, right?

So now your situation is such that there is chance to "save money".
But in doing that, we are risking a "great loss".

I assume that the money potentially to be paid for premiums (14k+annual premium) will be invested for capital gains.
So what is the expected potential compounded returns from this "investment" over the next 5, 10, 15 years?
If the losing the invested amount [(14k+AP) x 10 years] over a 10-year period will cripple your family's finances, then don't buy.

If it doesn't, then I think exchanging the premium amount for your father to rest with dignity is worth it.

Can you and your siblings stomach the "great loss"?
If yes, what else is stopping you to buy?