thanks MUM. will read these links provided. Cheers

Two things to note:
1. Cost of insurance will be higher as you age,
2. If you happen to have some health issues, some exclusions may apply or additional premium may be imposed.

Alright thanks for sharing.

I am currently paying RM189 p/month on Allianz PowerLink,
150k on Life,
150k on TPD
150 Medical

Currently my agent is trying to aggressively push some Allianz Rider which cost another RM200 on top of my existing RM189 which I have no idea what is it about.

Do you think I am over insured for a 24 healthy male? social smoker and no known health issue.
feel like cancelling my medical because health coverage is unlimited by employer

This post has been edited by TechnoG: Mar 9 2020, 09:46 PM

Halo friend, you can't guarantee employee benefits no change forever right?

Regarding your exiting medical plan, do you know how much medical fees annually? Any lifetime limit? Any limitation for kidney dialysis & cancer out patient treatment?

Then ask your agent what's the different & benefits if top up another RM200.

For medical plan I always concern the investment cash value return for the sustainable years.

Understand your needs and buy only what you need.

When I was looking for medical insurance 4 years ago, the reason I took manulife was I think it's the only one with coverage till 99yo. Only now most company follow, otherwise most only offer till 80. I differ regarding what you say that we don't need insurance after 80. With medical advances and also statistics have shown, high chance most of us will live more than 80yo. If not mistaken, average lifespan of Malaysian male currently is 76 already. Furthermore, statistics have shown we spend 80% of our medical treatment cost during the last 5 years of our lives. I wouldn't want my family to be burden with high treatment cost when I get sick at 85yo.
Not sure if my thinking is correct. Would love to hear opinions from others.

Recently bought an accidental coverage package. I been thinking. If accidental injuries and visit normal GP then can claim but the thing is is it really necessary ?

Because only accidental causes that can be claim. And if injuries medium might as well admitted to hospital to claim medical insurance.

Thoughts ?

If lost a leg in an accident, if you got no pa insurance... How?

Halo Anwa,

Most of the medical plan now "renewable, valid till" till 99yo / 100yo.
But doesn't mean your current premium sustainable till that age. Insurance charge will raise from time to time.
Some of my friend's plan only sustainable till age 60 but policy renewable till age 99. Meaning to say company will ask for premium top up soon. If he refuse to top up... by age 60 he got to pay a lot more higher premium.

My personal preference to quote buyer sustainable plan till 80yo with certain amount of estimated cash value by that time. In order to have room against raise of insurance cost / slow investment market return.

No right or wrong to choose 99yo plan. Some of the just want to cover till 70yo. Saying no need treatment after 70yo
We advise .. You decide


Halo Thomas,

Sounds like PA right? Yes only accidental causes. And accident death.
Other claim of injuries follow a table by percentage of sum assured.
Such as lost of 1 arm **%, lost of both arm 100% etc.
We can't answer without knowing what you sign up exactly.

Better look in your policy for more info.

Get any agent to help review for you will do

Your family may not be burden with treatment cost.
But your family may be burden with ten of thousand premium needs to be paid every year.
Medical premium at old ages is not 1k or a few K pa.

Please be reminded that medical insurance is not covering everything, Outpatient cost, post treatment, nursing, medicine cost etc may not be covered by insurance. So there is still needs personal saving to pay for that.

Wait until when you old time, and every year pay such a medical fee up to 5 figure each year, then you will know or start realise the issues of paying medical at old ages, that I am talking about.

After such an age, even one has critical illness like cancer etc, doctor may also advise not to under knife, as your body may not able to coup with surgery and chemo treatment as well.

That's why medical insurance cover until 70-80s is sufficient.
If cover until 100, means potential make medical premium become even more expensive and unaffordable to many middle class.

Remember insurance mechanism is like a pool of fund, when the pool of fund needs to be used those beyond 80s, means potential higher premium

This post has been edited by cherroy: Mar 10 2020, 09:37 AM

I still got medical insurance that allow me to admit to hospital and claim

claim for medical expenses, but you cannot claim for lost of leg due to accident, or TPD.
just like CI insurance plan

This post has been edited by yklooi: Mar 10 2020, 10:07 AM

Looks quite sufficient to cover for a 24 year old especially if you're not married. But you may want to consider a top up to cover for critical illness as income replacement if you're critically ill.

However you may be required to do a top up if you wish to prolong your policy benefit for a longer duration.

When a policy says it's sustainable until 80 years old, it means your current premium payable may last until that age, but you have the flexibility to stop anytime or to reduce the premium if you don't wish to continue until that long.

Personal accident besides just accidental injuries, it also covers for lost of limbs, so it's not necessary just for the accidental reimbursement.

I take your point. But would you then say its better to start a medical insurance investment linked early, so that there is more time for the investment to grow (ups and downs of market) so eventually at the end of the day, enough to cover the tens of thousand in premium at age 80-99? Or, is it better to just buy enough till 80, extra money do own investment (buy house etc, can sell to fund the surgery or chemo at age 80-99)?

if you have the discipline to invest yourself and pay the different back to your insurance, then do so. Otherwise the purpose of the investment link policy is to give you a peace of mind that your policy still covers you even if you are struggling financially during a period of time or unable to pay for your insurance premium.

If u r accident injured and no admission required, the medical card is covering the GP clinic fees. Based on reimbursement. Do check with your medical provider.

PA has extra claim for lose of 1 eye, lose of 1 hand, lose of thumb. Which the life and TPD is not covering this lose of Thumb. Since PA is cheap and highly recommend to buy 1.

Don't think there is investment linked that being structured to be self sustained until 99, I could be wrong.
Also, the longer the ILP is designed to self-sustained, the higher the premium could be.

Also, investment linked is just investing in unit trust, and those unit trust may not perform as good to be self-sustained until an ages as projected.
That's why you hear some investment linked send letter to policy owner to increase their annual premium, especially with recent financial market lackluster performance and turmoil.

Some investment linked unit trust may as well result in a loss instead of gain, even putting FD can beat those unit trust.

Basically, there is no guarantee the investment linked will make enough to cover or self-sustained, it may or may not.

Basically, there is no free lunch in insurance coverage, you can't "beat" insurance, and never think of trying to "beat" them.

Buy it if you needs it and when can afford it, should be the mindset.

Well said, unfortunately many agents out there are playing too much with sustainability to create unnecessary fear in order to get sales.

In that case, it might be better to follow the adage, don't confuse insurance with investment? Just get a standalone medical card, money invest elsewhere and hope rich enough when elderly, or hope die young if poor investment skill.