If budget and health allows, try to get something with higher limit. of course this is just a general advice. you will wanna engage a financial planner to analyze your situation though. from your situation, looks like there is not much worry on the medical emergency fund. it is more on life insurance that you should look into. and it involves Faraid that im not familiar with. if you wanna engage with someone that is familiar with Faraid, i can recommend my friend to you.

I don't have a crystal ball, but very likely what you save for 25 years ( from age 30 to age 55) will likely not be enough to buy you a new medical policy from age 55 onwards that will sustain for another 25 years.
The premium will not be the same at age 30 and age 55. No crystal ball either to know what the medical cost inflation will be 25 years from today.

In short, I believe your family has good coverage currently for medical. You may want to relook on life insurance for yourself and estate planning/wasiat.

Yes, most of us are covered by our employee benefits throughout the tenure of our employment.
By the time you're 55, yes, you would have saved up an amount for lots of various purposes, insurance can be one of your purposes.
But money is actually the secondary factor in buying personal insurance. First, we have to ensure that we are in reasonable health condition to be "insurable".

Buying now at 30 vs buying later at 55. The premium will ROUGHLY be the same, CONSIDERING in 25 years from now, there is no improvement in product, no inflation, no improvement in coverage, and no change in your health condition.
If all these conditions are met, then yes, your statement is correct.

Sounds good for you.

Will suggest you look into critical illness coverage. Also wealth & legacy planing.

Thank you. I will maintained my current medical insurance and rel-look into the wealth and life ins.

Thank you

Hi guys, what is your feedback about the above child plan to cover the baby in the womb. This one is from Prudential (Pru_my_child) & will cost around 201rm per month.

Suggestions please..

SA (Death / TPD) for the above plan is RM50k

I believe it's a medical card for the child + pregnancy coverage for the mother as well. You can consider adding in coverage for child critical illnesses and adult's critical illnesses into the coverage. Also ensure that waivers for both the child and the payer is included in the design.

You can consider similar plans from Great Eastern's SmartProtect Junior as well.

May I know is there any medical insurance where the insurance charges (not just premium) are fixed for the rest of your life?

Good morning.

As it currently stands, no medical plan with fixed insurance cost. There are fixed band for age groups that will increase as you get older.

This post has been edited by Cyclopes: Apr 25 2020, 08:08 AM

Thank you. I was looking for a way to hedge against the rising medical costs but seems like it is not possible.

Try study the possibility of using ilp product for the 'hedge'?

hi smallikanbilis, not that i know of at the moment.

The premium you have saved won't be much considering you will be paying much more once you get older, whatever you have assume to "save" during the 25 period from 30 to 55 years old may be marginal against being diagnosed with any illnesses in between.

The insurance cost difference yearly of a 30 year old and 55 year old is probably about RM1000?

Again, Insurance is managing your own risk. If you think the next 25 years, nothing will happen to you. Then so be it.

Hi Fariz, from your more elaborated explanation, your medical coverage will be sufficient for now, since you are able to get coverage from Government especially your wife is a government servant.

With the age of 44 now and a sum of money in KWSP and ASNB, it will continue to snowball for you to a bigger sum in the future to cover your retirement and medical expenses (should any illnesses arise).

You can consider to look into building a legacy for your family should anything happen to you earlier.


There is no such thing unfortunately as medical expenses is a big variable cost to the insurance company.

It's like telling a wan tan mee seller to fix their price at RM5 in 2020 until year 2100 for the same portion. Would you think it's logical ?

Hmmm I have always wondered why some agents ask us to buy medical insurance early to protect against escalating medical fees. Seems like there is no way to get a product that features fixed cost of insurance, guaranteed renewal, and no portfolio withdrawal clause

I think buying when older may cost more due to loadings of pre existing illness, family history and could be subjected to lengthy in depth medical examination too....

they cannot provides you with the current fixed premium for a lengthy period due to the yearly rises of medical cost....as below provides some insight of the % amount of rises per year.
Medical Inflation
https://infocus.wief.org/medical-inflation/

Start early protection mainly to cover against risk of illness.

For medical fees yes you can have affordable premium during young age. With the inflation increase you still be able to pay lower premium when age grow compare to those new join. Because system calculation for risk of age / illness are not same from time to time.

ILP medical good to start young as well.

You may get some quote to compare. Check the same sum assured and protection for young and old age.

There is a plan from Great Eastern which features fixed/guaranteed cost of insurance which is SmartProtect Sure. It is a type of life insurance + critical illness policy but it's not the medical insurance you are looking for though.