Depending on her finances and affordability, if she is a breadwinner of the family then she should put more priority into life if the children depends on her.

Can’t tell much other than general stuff.

This post has been edited by lifebalance: Jun 20 2020, 10:50 PM

Medical term insurance or standalone medical does not come with any life/critical illness coverage. It only covers for hospital bills. You will need to get separate policies for life/critical illness in this case. Standalone medical insurance tend to be cheaper in the short run but the premium will also increase according to age every 5 years.

For your first insurance policy, I would advise getting ILP medical insurance because the coverage is more comprehensive. Think of it as an all in one package including life, critical illness and medical. You can choose the coverage up to age 70 or up to age 90 depending on the budget.

Medical plan would be necessary for herself and probably start with medical card for the kids. Add on will depend on individual needs.

in force mean what ?

Means the policy coverage is active

according to insuranceopedia
https://www.insuranceopedia.com/definition/...%20the%20policy.



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Is there any Disability Income Insurance product in Malaysia?

According to LIAM, this type of insurance covers a portion of the income in the event that the policyholder is displaced from work when stricken with an illness or an injury.

Yes, this is usually referred to as Total Permanent Disability (TPD) or critical illness (CI) coverage. The benefits are usually paid in one lump sum to you as cash.

For CI coverage, ideal amount is to be 5 times your annual income to cover for approximately 5 years of annual expenses to recover from illnesses and get back to the workforce.

Yes there is, it's known as disability income. The payout is yearly.

This is different from what David is explaining above which is a lump sum payment.

I got a quotation from Prudential as I wanted a plan which has minimal investments and more towards hospitalization. This is what I got quoted.

RM 360/month premium. Age next birthday 26, class occupation 1, smoker.

Is this on the high side or normal to pay so much at such a young age?



This post has been edited by smokymcpot: Jun 21 2020, 02:21 PM

Are you happy with the proposal?

I am just wondering if there are things in there which I do not need and is it normal to have such high premiums at 26?
I have had insurance with them since i was a teenager and just changed to smoker status officially.

Well I can try to compute something for comparison for you if you're open for that

Sure, that'd be great, thanks. Can PM me

RM360 premium for your age is definitely on the high side. I will try to sum up your Prudential benefits as below:

Life: 100k
Critical Illness: 100k
Room & Board: RM300
Annual Limit: RM1.5 million with RM300 deductible
Waiver Rider

Any Prudential sifu, please correct me if I am wrong.

I think the reason for the expensive premium is probably due to your smoker status and the coverage is up to age 100.

For GE you can add IL Great Income Rider in Medical Plan. For TPD event at least more than 6 months.
If sum assured RM100K, then you get RM10K every year till age70.


I don't see it pay "so much" base on benefits. Calculation by insurance company system & data key in. You can request reduce benefits if not comfortable with the premium.

Main reason believe is "smoker" with RM100K CI .

This post has been edited by tyenfei: Jun 21 2020, 06:16 PM

When agent "sell key point" they only mention standalone medical card is expensive when you are old (that is 30+ years later) but they didnt mention that ILP you pay more NOW.

The extra you paid NOW is to sustain the insurance cost when you are old.

High insurance coverage so its normal that you have to pay more. Nothing comes for free.

I am a 24 yo non smoking female with considerably high myopia, still in university, have not bought any insurance before, and want to buy medical insurance, what should I get? Preferably it covers critical illness.
Also, I feel stupid to ask, is there insurance plan that will pay for my medical fees such as consultation, treatment, tests, admitting to the hospital etc without having me to pay from my wallet first?

Thanks

I see, as long as its not detrimental to your sight, should be okay.

All medical cards covers hospitalization which normally covers both Critical and non critical illness. It will also cover accidents which falls under outpatient and inpatient depending on severity.

For medical card nowadays, it's cashless but sometimes you are required to come up with a deposit if required by the hospital.

Outpatient Accident are required to pay first and file back a claim

Get medical insurance with a bit of life, critical illness and waiver coverage. Make sure the length of coverage and sustainability of the policy is up to the age you are comfortable with.

To answer your question, the medical card will pay for your consultation, treatment and tests when you are admitted to the panel hospital. In another example, if the result of the consultation does not require any further treatment, surgeries or hospitalisation, you will need to pay for the consultation by yourself.

To sum it up, medical insurance is used for the following 3 purposes:

1) Accidents treatment
2) Hospitalisation
3) Surgeries or Outpatient Treatment