Some people may maintain an older card due to pre-existing that the newer card may not cover, other than that ya it won't make sense to keep 2 medical card if one card limit can cover everything.

Hi, hope can get some advice. I'm 45. Already have a investment linked medical card (manulife) AL 320k, no lifetime limit till 100yo. Paying $410/mth. Would like to get medical insurance for wife (37yo) and daughter (2.5yo).
1. Should I get a family plan (ie on top of my current plan)? Or individual insurance for wife & daughter? Or one of those mother+child policy?
2. If I get a family plan, should I cancel my current one?
3. Is it better to get from same company, or different company? (Been hearing AIA, prudential and allianz better?)
4. Getting irritated every 6 months or so I get a letter from manulife asking to top up quite significant sum saying my investment plan may not cover future premium. Shouldn't it be investment market goes up and down, and the amount in investment would have been calculated to be enough when I bought, which is only 4 years ago?

Thanks in advance for any info, advice and insights.

1. Depends if there is any family plan available by your existing insurance company. Otherwise opt as individual insurance policy, no difference in the premium btw

2. If that plan suits your current planning, why not?

3. Good to survey if you're open.

4. Chances are the recent investment may not be suffice to sustain until the age / term that you wanted thus it asked you to top up the difference. Otherwise you are free to maintain the same premium now if you don't wish to follow their recommendation.

Hi anwa,

1. I would propose that you get individual insurance for your wife and daughter if your budget allows. If I'm not mistaken, the family medical plan follows the proposer, in this case, if you bought the family plan and one day if you passed away, your wife and daughter will lose the medical protection as well.

2.Since you already have a investment linked medical card for yourself, you should continue to service it. It would be much much more expensive if you get a medical card for yourself at this age to get the same benefits. You can consider to upgrade the annual limit or add a second medical card.

3. There is no company which is better. The only difference is the agent who is designing the policy for you and committed to serve you for lifetime.

4. Medical inflation in Malaysia is really high which is about 10% a year so it is common across all insurance companies to increase premium from time to time. Also, it depends on the sustainability of the policy which your agent designed for you 4 years ago.

With poor investment market out there, coupled with medical cost inflation, ILP faced risk of unsustainable premium, and need to revise premium upward.


This post has been edited by wayton: Mar 8 2020, 08:40 PM

1.2.3. Work within your budget. Compare the cost of obtaining the medical card individually for your wife and child against a family plan. Technically benefits should be the same except for annual limit/lifetime limit.  Would you want to have life/c.i. insurance for your wife and can be packaged with medical card or just standalone medical card.

4. The request for top up of your premium would be related to recent BNM ruling on sustainability till end of term of your policy. If you opt not to increase the suggested premium, top up when you have extra cash.

Hi,i have a medical card but my parents bought it for me so im not sure which do i have,if i wasn't vaping before hand and i ticked the non-smoking box.Do i have to update them and pay a premium for my insurance?

Edit:Currently vaping

This post has been edited by TanHJ: Mar 8 2020, 09:16 PM

Guys, its finally happening, V6 coming at ya finally!

Closing this thread

<<Insurance Discussion V6!>>