A investment link including a waiver would be more cost effective and prudent too given you have a young dependent.

No best time actually as anything can happen to you, the earlier the better I guess as life is unpredictable.

Yeah unfortunately that's how the system runs.

Browse financial websites such as the following for information. It also depends on your needs and how the Life Planner designs an appropriate coverage.

https://www.imoney.my
https://ringgitplus.com

Hi Piza.always, I'm sorry to hear that your agent is no longer in service. It's quite a common occurrence in this industry that many new agents stopped halfway so clients nowadays have to really make sure that their agents are committed to do this career for long term.

As for your question on which is the best insurance, there is no insurance company which is better than another. The best insurance is the insurance which is tailor made to you as different people has different standards of living and needs.

Just like banks, Maybank/CIMB/Public Bank, are they clearly better than another? I would say the only difference here is the level of service they provide, in this case, it's the agent who is serving you.

Further to previous message, is there better protection out there provide by other plan or insurance company if I replace current policy with same Rm240/month?
Thank you.

This post has been edited by Ching Aik: Mar 6 2020, 04:50 PM

Suggest you check how much medical fees, for lifetime or renew annual. Any cap for kidney dialysis/ cancer outpatient treatment.
And roughly plan can sustain till what age.
Most importantly ensure got waiver rider.

Then only you decide need to upgrade (if available) or get new plan better.

This post has been edited by tyenfei: Mar 6 2020, 06:26 PM

hi Ching Aik, are you looking to actually upgrade your Prudential medical card to the latest one (PruMillion med)? guess that the reason why agent split it into 2 plans mainly is because
1. want you to have their latest medical card which is the PruMillion med.
2. only the new ILP policy namely PruWith You can put in that latest medical card rider.

If that is your intention, it looks fine to proceed. Else you can re-evaluate your current financial risk and needs before proceeding with any changes. also it is possible to change agent, do you have any friend that you know of who is a Prudential agent?

hi GeraGeraPo, with that budget, you can get an ILP with medical and life with CI insurance since you have a child.

Hi there Piza, the best insurance is the one that fits your needs. you are asking to surrender the 2 plans you have with GE? what is the current planning for you since you didn't manage to surrender both that policies?

RM240 today may not buy you the same coverage as in 2010 as cost of insurance has increased and will change based on your age. You may want to relook/increase your coverage with additional premium if you keep your current policy.
Alternatively, you may want to explore other insurers which may still provide adequate coverage but not necessarily with all your current riders attached.

Hi can anyone enlighten me on the concept of deductible?

For example number 1:

Med Card A : annual limit 50K
Med Card B: annual limit 1.2M with 20k deductible

Mr A hospitalized and the total bills comes RM 150k. If Mr A use Med Card A first, the first 50k bills will be paid by Med Card A and the remaining RM100k balance will be covered by Med Card B but Med Card B will only approved for RM80k only and RM20k Mr A must pay in cash. Is my understanding right?
If Mr A use Med Card B first can he claim the 20k deductible from Med Card A since the limit not burst yet?


For second example, let say:

Med Card C: annual limit 20k
Med Card D: annual limit 100k with 5k deductible.

Mr B hospitalized and total bills comes RM 7k. No problem for using Med Card C since it will fully covered.
But can he use Med Card D and claim the first 5k from Med Card C?

while waiting for responses,....my "BET" will be .....(could be wrong thus just BET until being corrected by SIFUs)
as long as you seek to claim from the insurance that has deductible.....the amount of deductible will first be deducted from that claims....
your example:
Mr A hospitalized and the total bills comes RM 150k. If Mr A use Med Card A first, the first 50k bills will be paid by Med Card A and the remaining RM100k balance will be covered by Med Card B but Med Card B will only approved for RM80k only and RM20k Mr A must pay in cash....my BET is this is correct.

as my reason being form this.....
Deductible is a fixed amount policyholder pays before the health insurance company will begin paying for medical expenses.

A deductible is where you share your cost with the insurance company by paying a fix amount upfront while the balance is paid by the insurance company.

You are right in both examples

hi kazekage, tried my best to answer your question above. hope my explanation won't confuse you

There is a school of thought out there that said the annual limit must be burst first then only you can use 2nd card. This means it wrong right?

So your explanation make more sense since whichever card that Mr A choose to use first doesn't really matter because the outcome is same and that is his bill is 100% covered by both of his card.

Ckdenion explanation is accurate.

One thing to consider is your cash flow as if the 2 medical cards are from different insurance company you might need to come up with the balance before the claim is made.

However if you’re in the above situation and both the medical card is from Allianz Life Insurance you’d use the medical cards as though as it’s a non-deductible medical card. Assuming all the TnCs in the medical card is fulfilled.

Now that you’ve understood the idea, get a confirmation from your insurance companies in regards to this matter.

Best,
Jiansheng

This post has been edited by Holocene: Mar 8 2020, 11:56 AM

It is not necessary for the first medical card annual limit to be "burst" first. I have do multiple claims whereby say

MedCard1: 10% co-ins
MedCard2: no co-ins

Client admit using MedCard1. Pay the co-ins. Claim the co-ins from MedCard2.

Of course they could be different different situation. For me usually what I do is just claim (try luck in this case). That's where I learnt frrom.

Since the 1st card is already over the rm20k, the second card will pay in full.

Unless the 1st card had ceast (due to the annual/lifetime limit/term had been exhausted) then the client will need to fork out the rm20k themselves.

To some people, standing by a Rm20k for a medical emergency that may or may not happen is just small change.

Additionally it is also worth to compare getting a Rm20k deductible vs a full claim plan as the insurance plan premium will need to be serviced for as long as you want the coverage.

At age 75 to 80, the medical plans insurance charges for a full claim plan can be as high as Rm15k per year!

A rm20k deductible plan at age 60 may only cost rm3++ per mth as compared to Rm600 (or more), depending on the sustainability of the policy.

For elderly over the age of 60, do a comparison on the premium saved for 30 years and you may be surprised that having to standby the Rm20k is nothing.

Just a food for thought...

Why want to buy so many medical insurances.

In theory, yes, claim A, then rest claim B, and another rest claim C.

In reality, you may have lot of troublesome to claim them due to paperwork and procedures in the process of claiming.

hi wayton, different people have different reasons doing so. So far those that i came across have 2 medical cards reason being that when they get their 2nd medical card, they have pre-existing condition whereby there is exclusion on the 2nd medical card. They don't mind keeping 2 cards. of course those that have no pre-existing condition, most likely they will just go for the new card and dispose the old one.

It is not difficult to claim from more than one medical card as it is very common to do so.

Eg some company insurance covers for technician level can only claim up to rm20k per year, balance is from their personal