Why are we focusing on returns with insurance products?

Hey.. Anyone can give me an opinion about A-Plus Health vs MediSafe Infinite+ ? FYR, I'm 27, healthy, no smoking, no drinking, but family history got cancer.. prefer high annual limit + no lifetime limit with low premium (if possible).. I've tried to compare between two, but too complicated for me..haihh.. any sifu can give opinion between two? thanks so much!

Allianz Medisafe Infinite

AIA A Plus Health

Here's the link for your read up

as for which plan to go with ? why not get an input from an independent financial advisor ?

there was an illustration of another product from another company and that product may not be similar to yours...
thus just for illustration....
post 8,
Wealth Booster Plan, Investment Scheme
https://forum.lowyat.net/topic/4977858/all

on this "how secure is the monthly capital, if you put in for the first 10 years?"
as this is an insurance product,...my uneducated guess is your total capital put in for the 1st 10 years will be lesser than what you will get at 10 yrs, when that 10 yrs is considered as early termination (example in a 20 yrs maturity policy)

You may get some opinion and comparison from website like https://ringgitplus.com or https://www.imoney.my

it is complicated to compare. but either one will give you high annual limit and no lifetime limit. You should also look at other factors, example, which of the agent likely to continue to serve you? This can be important years down the road, when you need to use it.

I would not say which one is better than another but you need further analyse to how much room & board you are looking for and how long you intend this policy to last? use this answers, give to your agent and get a quote and compare on main aspects
1) room & board
2) annual limit and lifetime limit
3) Cancer and Dialysis limit
4) Price ?

(the rest are too minor and too complicated to be worth comparing but you can focus on certain things that you value, example, if you play lots of sports, maybe physio treatment appeal to you (if kena sports injury) than someone like me who does not exercise a muscle)

i would say, be cautious what you read from those websites. I noticed the articles generally not very well written on insurance.

thank you so much yea

hi yoomie, both also got high annual limit and no lifetime limit. what other concerns that you have?

The hospitals that treat you are all the same hospitals.

Maybe pay a visit to the agent's office?
Then get to know the claiming process thoroughly.

Hi sifu sifu sekalian,

Looking to seek for some advise, some background information before I start, I'm looking for a basic stand-alone medical card for myself and my parents.

I'm 26, company insurance previously AIA, now MetLife, limit up to 25k per year per disability.

Mum is 65 (non smoker) and Dad is 68, Smoker.

After going through a number of medical card, I have stumbled upon RHB Medisure Supreme that seems cheap for what they cover, exclusions, good annual and lifetime limit and I can opt for 20k deductible option, but I have a few questions and would love to have some advise.

1. Any opinion on this medical card compared to other companies? It seems they outsource their admission/claiming process for the cashless plan to Asia Assistance. Any feedback? Are they good? not good? hassle to deal with etc?

2. In case touch-wood, in case of admission, and assuming I have 20k deductible, can i claim from my company insurance first, then the remaining I use RHB's medical card?

3. in case of medical inflation in next 10-20 years and my annual limit is no longer enough, can I buy another medical card from same OR another company and combine? I spoke to a friend from Prudential recently and she mentioned that if I have 2 medical cards, and despite being cashless, the first one I don't have to pay but if exceeded and require to use the 2nd one, i will have to pay first and claim later. Not sure if it applies to RHB and i read the policy, nowhere it states this.

4. I also realize in the policy wording, company reserve the right to increase premiums anytime they want.. so does that mean that in your lifetime, after you kena 1st major sickness, and then next policy year insurance company raise the premium gao gao? in this case it might not be worth it anymore to continue renewal? I wonder if anyone can shed some light on some real case examples?

Here are the links

https://www.rhbgroup.com/files/insurance/pe...ure%20Sheet.pdf

https://www.rhbgroup.com/files/insurance/pe...y%20Wording.pdf

https://asia-assistance.com/PDF/WebPanelClinic.pdf

Thanks very much Please forgive me if I have missed out anything important, all advises are really appreciated.

This post has been edited by Ecnerettee: Sep 8 2020, 12:07 PM

1. So far so good

2. You can do so

3. You can claim from both insurance company for the medical card, as long as it exceed one's limit, just that you can't perform double claim.

so for number 3. if cashless plan, do i have to pay any of them first and wait for reimbursement later?

Also any feedbacks/experience on the process dealing with Asia Assistance?

Cashless plan no need, unless for outpatient basis. (Accident/Cancer/Kidney Treatment)

So far no issues, claims are timely.

For a fresh graduate, which should be the priority - medical insurance or term/whole life insurance? Getting both could be too much on the wallet, until salary increases or employer provides medical.

Medical first if you don’t have one and not covered by your employer

Life / disability if you have dependent who survive on your salary and also to provide yourself an income if you are disabled

Adding on to what Keith has said, you may consider PA, as annual premiums should be affordable.

In my opinion, medical is the first priority, then life, then saving.

Reason being, life insurance is for your family or next of kin if anything were to happen to you.

Even if you have a lot of money/savings, when you get sick you will use up a big chunk of your own money to pay for the treatment.

So it's best to have protection first because nobody knows when the unfortunate things will happen. And the best time to get medical card is now, when you don't have any sickness because there won't be any exclusions in the medical card

hi mattrock, most people will recommend medical insurance first usually. based on your current status who is a fresh grad, i believe you will have more concern on covering medical bills and do not want to pass this burden to your family. unless you have a lot of liabilities with you (such as car loans, mortgage loans, credit card loan if you have), then you will also have this concern of not passing this liabilities to your family members as well. now you may ask yourself again which one you are more worried about in your current situation

employer cover medical?

parents are independent and dont rely on your monthly allowance?

no savings yet?

if all answers to the above is yes, maybe plan out your financials properly before committing to insurance plan.

Regards,

The first priority is always financial management.

Look at how much you can save each month, only then start to look for insurance.
Don't pay all the insurance first until no saving left.
Insurance is not magical tool, it won't cover you everything, built up enough cash for emergency and buffer is priority.

1) If you have no financial dependent, life insurance is needless.

2) Medical if stress in financially, at least we have gov hospital as back drop. Alternative, take up lower tier first before upgrading.

Insurance is long term commitment, always proper plan the financial first, before committing, don't need to rush upon. Buy insurance when financially is stable and disposal income become "relax".

Cheers.

This post has been edited by cherroy: Sep 9 2020, 09:34 PM