Hi all, I am currently looking for a standalone medical card for my parent.

55 years old, Female, Non-smoking.
Just got a quote with the following:

Tokio Marine
R&B: 350
Annual Limit: 85k
No Lifetime Limit
Renewable up to 100 Years
Premium: RM2794

Lonpac
R&B: 300
Annual Limit: 150k
No Lifetime Limit
Renewable up to 100 Years
Premium: RM3172

Wondering is there any better options out there with similar premium?
Personally think that R&B can be reduced to 250. Any advice?
Is claiming okay for Lonpac?
Thanks!

You can try getting quotes from other Life insurance companies like, Prudential, GE, Allianz, Manulife or AIA.
Each will provide some added benefits, see which fits your needs. Premium will vary and increase as your mum grows older, and it's common in the industry.

Room 350
Annual limit 1.5m
No lifetime
Premium 2900

hi TaiGoh, you can actually get the premium table for standalone medical card via insurance companies website.

but will it better if have agent to help ? rather than buy it online thru web?

PRULink Assurance Plan MYR 30,000.00
Accident Medical Reimbursement MYR 2,000.00
Accidental Death & Disablement MYR 20,000.00
Crisis Shield Plus MYR 20,000.00
Enhanced PRUPayor Basic MYR 2,280.00
PRUMed 1 unit(s)
PRUValue Med MYR 200.00 (Room & Board)
PRUValue Med - Med Saver/Deductible MYR 300.00
PRUValue Med - Med Value Point MYR 1,000,000.00
Weekly Indemnity 2 unit(s)

I need a review for my insurance plan , current pay RM190 per month, my age now 34 years old.

Some ppl want to skim on going with agents, don't want them to earn "commissions"

Well I'd say an agent is still important when it comes to providing proper advise and servicing on claims / changes to be made on the policies.

Would suggest you to discuss with a Financial Advisor on what you should get for yourself.

Hi eviechu, it depends on individual. Some prefer to buy online, some prefer through agent. I can give advice to what insurance and how much to go for, end of the day clients decide whether they wanna go buy direct online or through me.

Hi wong, plan benefit wise, it is good with the premium that you currently paying. Only thing is you need to have an agent to really discuss on your current lifestyle and financial situation, then only can suggest you how much insurance to go for. Perhaps you can discuss with your agent

pm u

Wondering anyone have any experience with Lonpac?
Did some check on the Medisecure Centurial Standalone Medical Card find the price quite reasonable, dont have sub-limit for Cancer Treatment and Kidney Dialysis, 10% increase of Annual Limit and R&B seems quite attractive too.
Just a bit concern on the company itself.

First time getting life or medical insurance/ card. Can please advise what package is most suitable for me?

Late 20's, non-smoker, have no history of any critical diasesas other than dengue fever.
Looking for something that could cover for my hospitalisation fee incase I got any serious illness or injury due to accident.

If you need a comprehensive insurance, would recommend an all in one investment link policy which provides a few benefits such as death and disability, critical illness and personal accident benefits along with the hospitalization and surgical benefit.

Budget wise, will be around 200 monthly for a decent coverage.

Is this too high for insurance under 30?

Premium: RM300/month

Coverage amount: RM 100,000
A-Lifelink 2 (Death Benefit): RM 100,000
A-PlusDisabilityCare (TPD): RM 100,000
A-PlusCriticalCare: RM 100,000
Medical Limit: RM 1,500,000 (no lifetime limit)
Deductible: RM 300
R&B: RM 200
Hospital Income: RM 100/day

Should I aim lower?

Hey UrbanGraduate,

An insurance coverage depends on your financial standing and how much you want to insure. Your age does not determine if your insurance premium is too high or too low.

With that said, work with your agent to best determine how much coverage you need.

Best,
Jiansheng

Depending you want to pay low for now or pay high later.
Paying low might still get the same protection but shorter sustainable. When insurance cost repricing then faster affecting your monthly premium.

Anyhow, start a new plan ASAP is important for your medical protection.
Be honest with your agent if really budget constrain. Riders adjustable.

hi TaiGoh, what concerns do you have on the company? they are regulated by BNM. claims wise I have no experience with them, but what I know quite a number of companies use Lonpac group insurance for the employees. the brochure is very simple, so might need to also read through the policy contract once you received it.

hi Razaelx, usually i will recommend the first 2 important thing to take care of, which is hospitalization and medical fee incurred (mentioned by you) and also a plan that can payout for your living expenses in case diagnose with critical illness and need long term recuperation period (usually recommend to have at least 3 years but decision is still up to yours).

hi UrbanGraduate, you are referring to "premium" too high or coverage too high? by the way, how much is your current monthly expenses averagely?

There is no such thing as "too high" or "too low", it depends on what you're covering and the price tag it comes with for "X" period.

You should ask yourself why 100k coverage ?

Why hospital income 100/day ?

Why Room 200 ?

If the monthly premium is within your means, I think you should aim higher coverage. You have many more productive years ahead.

Currently, my premium is taking up 6% of my overall income. Am targeting just under 5% for protection as I dont think there's high risk. My cash liquidity and savings is generally enough to cover possible issues.

The coverage seems okay, compared to quotes I have at GE. But maybe you guys have better understanding perhaps? Hence why I'm asking here.

It seems that the consensus is that RM200 is good enough for decent coverage.

Plus Im also insured by my employer, on top of SOSCO and my family civil servant family program as my parents are in Gov

I'm not sure what the agents have gone through to discuss things with you before the above was recommended. Looks to me that it was just cooked up like a packaged plan.

But if you're working within a fixed budget in mind then perhaps you should set what should be prioritized first in the coverage.

i.e since you're covered by the employer + parents working in gov sector, perhaps hospital income is not required

This post has been edited by lifebalance: Oct 22 2020, 02:55 PM