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 Insurance Talk V6!, Everything about Insurance

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tyenfei
post Jan 29 2021, 10:19 AM

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QUOTE(anhydrous @ Jan 29 2021, 06:51 AM)
hi experts,

is it normal for Prudential to suddenly increase your monthly premium for medical card stating that they are revising the prices due to changes in cost of health care bla bla bla (price increase almost 20%.
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Medical repricing affected by
- COI of riders, amount of coverage (larger amount higher the cost)
- investment fund performance (low or high cash return)
- premium you paid (yes the same coverage can be design with minimum premium or higher)
- sustainable during initial plan design stage (if a age70 plan design was sustain till age60+, now company calculate till age70 then need top up)

Not everyone premium increase in same amount or percentage.

If the premium raise really burden .. can contact your agent discuss about the riders and coverage adjustment
den
post Jan 29 2021, 11:39 AM

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QUOTE(anhydrous @ Jan 29 2021, 06:51 AM)
hi experts,

is it normal for Prudential to suddenly increase your monthly premium for medical card stating that they are revising the prices due to changes in cost of health care bla bla bla (price increase almost 20%.
*
My sister also just got it yesterday, but I got mine since last Nov/Dec.

This is not the first time it got revised. I received such letter every few years. Only this time, they increased the premium without adjustment to the lifetime limit. sad.gif
lifebalance
post Jan 29 2021, 11:55 AM

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QUOTE(den @ Jan 29 2021, 11:39 AM)
My sister also just got it yesterday, but I got mine since last Nov/Dec.

This is not the first time it got revised. I received such letter every few years. Only this time, they increased the premium without adjustment to the lifetime limit.  sad.gif
*
Policy benefit does not change when they ask you to increase your premium.

The additional premium is to maintain your original policy term of coverage without altering your policy benefit.
jacky1678
post Jan 29 2021, 01:05 PM

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QUOTE(anhydrous @ Jan 29 2021, 06:51 AM)
hi experts,

is it normal for Prudential to suddenly increase your monthly premium for medical card stating that they are revising the prices due to changes in cost of health care bla bla bla (price increase almost 20%.
*
i will say , all insurance company has the right to do that coz all of their policy written , they have the right to revise bla bla bla within 60 or 90 days during your renewal of policy. biggrin.gif biggrin.gif

QUOTE(den @ Jan 29 2021, 11:39 AM)
My sister also just got it yesterday, but I got mine since last Nov/Dec.

This is not the first time it got revised. I received such letter every few years. Only this time, they increased the premium without adjustment to the lifetime limit.  sad.gif
*
ya , normal thing. beautiy of investment link biggrin.gif
den
post Jan 29 2021, 01:28 PM

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QUOTE(lifebalance @ Jan 29 2021, 11:55 AM)
Policy benefit does not change when they ask you to increase your premium.

The additional premium is to maintain your original policy term of coverage without altering your policy benefit.
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They did increase my lifetime limit previously during the adjustment, but not much tongue.gif
ping325
post Jan 29 2021, 01:32 PM

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QUOTE(anhydrous @ Jan 29 2021, 06:51 AM)
hi experts,

is it normal for Prudential to suddenly increase your monthly premium for medical card stating that they are revising the prices due to changes in cost of health care bla bla bla (price increase almost 20%.
*
hi anhydrous yes it is normal , not just prudential but all insurer , especially covid claim this year
i forsee next year might have another round of repricing

if you feel burden due to repricing , you can adjust all your policy section by reducing benefit.
FYI normally its the medical card portion that cause this repricing
those that did not attached medical card into their plan wont get repricing much.
For example : life , accident , illness hardly get adjusted from time to time.

This post has been edited by ping325: Jan 29 2021, 01:33 PM
ckdenion
post Jan 29 2021, 01:37 PM

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QUOTE(anhydrous @ Jan 29 2021, 06:51 AM)
hi experts,

is it normal for Prudential to suddenly increase your monthly premium for medical card stating that they are revising the prices due to changes in cost of health care bla bla bla (price increase almost 20%.
*
hi anhydrous, it is normal for all insurance companies to revise their medical card insurance charges from time to time.

QUOTE(lifebalance @ Jan 29 2021, 09:28 AM)
» Click to show Spoiler - click again to hide... «

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nice infographics!
dragonlady P
post Jan 29 2021, 02:24 PM

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QUOTE(ckdenion @ Jan 27 2021, 09:05 PM)
hi wykoh2, yeap basically they will cover expenses if admitted to private hospital due to COVID. reason being is because their medical cards do not have this exclusion clause that excludes "communicable disease that requires quarantine by law"

COVID-19 falls under this exclusion. so without this exclusion clause, there is no right AIA can reject the claim due to exclusion. but there are a few TnC applies.
- from what I know, you cannot just simply want to seek treatment for COVID from private hospital. you need to go to government hospital and if government hospital refers you to private hospital, then only this treatment can be submitted for claims.
- there is no cashless claim facility for admission due to COVID-19. in another words, you must pay all the bills incurred then only submit it to insurance company to claim (subject to Reasonable and Customary Charges). for example certain items wont be cover like doctors PPE suit, face mask face shield and etc...
hi dragonlady, I wont say that AIA is doing marketing gimmick. more like agents are the one who use this point to do marketing. AIA has to cover because of the reason above i stated to wykoh2
hi taiping... not to say catch... more to TnC. can refer to my reply above.
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Isn't this just hospitalisation benefit at the end of the day? So if the government refer you to private hospital because of COVID then only you can claim this hospitalisation allowance for up to rm6k max 30 days which is the rm200/day allowance. It is a product that has existed before covid but now it's being sold as to cover ur covid expenses. I du lan a bit cos that day the agent hard sell to me like crazy but when i ask him if i suffer from complications end of the day capping limit only 6k right. then he cannot answer. so yeah..
lifebalance
post Jan 29 2021, 02:31 PM

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QUOTE(dragonlady @ Jan 29 2021, 02:24 PM)
Isn't this just hospitalisation benefit at the end of the day? So if the government refer you to private hospital because of COVID then only you can claim this hospitalisation allowance for up to rm6k max 30 days which is the rm200/day allowance. It is a product that has existed before covid but now it's being sold as to cover ur covid expenses. I du lan a bit cos that day the agent hard sell to me like crazy but when i ask him if i suffer from complications end of the day capping limit only 6k right. then he cannot answer. so yeah..
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The circular is quite clear in explaining that AIA is covering the entire hospitalization caused by Covid-19, just on pay and reimburse basis. Which part is not clear ?
ckdenion
post Jan 29 2021, 03:22 PM

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QUOTE(dragonlady @ Jan 29 2021, 02:24 PM)
Isn't this just hospitalisation benefit at the end of the day? So if the government refer you to private hospital because of COVID then only you can claim this hospitalisation allowance for up to rm6k max 30 days which is the rm200/day allowance. It is a product that has existed before covid but now it's being sold as to cover ur covid expenses. I du lan a bit cos that day the agent hard sell to me like crazy but when i ask him if i suffer from complications end of the day capping limit only 6k right. then he cannot answer. so yeah..
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hi dragonlady, the capping limit of 6k is something extra that some of the few companies offer (also subject to availability of the financial assistance fund). for AIA, it covers treatment also not only hospitalisation benefit. but i think agent shouldn't use that point to hard sell also. that is not the main point of getting medical card (to cover COVID in specific). end of the day when LIAM and insurance companies comes out with the risk and costing that they can take, then likely insurance companies will start allowing hospitalization treatment claims due to covid.

for now things are still very uncertain thats why insurance companies don't cover (except AIA) and also due to "communicable disease that requires quarantine by law" exclusion.
kohcyk
post Jan 29 2021, 10:35 PM

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This post has been edited by kohcyk: Jan 30 2021, 06:32 PM
lifebalance
post Jan 29 2021, 10:42 PM

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QUOTE(kohcyk @ Jan 29 2021, 10:35 PM)
Hi.

Anyone mind to share why do you still buying Prudential despite their plan for hospitalisation is deductible (RM300).

I am planning to buy Allianz Power Link with PayorCover and MediSafe Infinite+. Sustainability until 70.

Is Allianz easy to claim? and recommended?

Thanks
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I would since the 300 deductible is not much compared to the cheaper cost of insurance that in paying in the long term especially when you don't claim.

As for Allianz. Their claims are quite okay so far. Cover is comprehensive albeit slightly more pricier than the other companies.
AnasM
post Jan 30 2021, 10:21 AM

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QUOTE(kohcyk @ Jan 29 2021, 10:35 PM)
Hi.

Anyone mind to share why do you still buying Prudential despite their plan for hospitalisation is deductible (RM300).

I am planning to buy Allianz Power Link with PayorCover and MediSafe Infinite+. Sustainability until 70.

Is Allianz easy to claim? and recommended?

Thanks
*
I got 2
Pru is much more easier to claim

Allianz need submit this then again request this and that docs
ckdenion
post Jan 30 2021, 04:15 PM

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QUOTE(kohcyk @ Jan 29 2021, 10:35 PM)
» Click to show Spoiler - click again to hide... «

hi kohcyk, so far i submit Allianz claims twice. not much of hassle so far.

QUOTE(AnasM @ Jan 30 2021, 10:21 AM)
I got 2
Pru is much more easier to claim

Allianz need submit this then again request this and that docs
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hi AnasM, maybe you can elaborate more on the claims you experience. Example:

Prudential: what are the claims? medical? CI? or others?

Allianz: what are the documents requested? and is it the exact same claim compared to prudential where you say its much more easier to claim?
JIUHWEI
post Jan 30 2021, 10:23 PM

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Every company claim procedure also very very similar, require the same documents, and subscribe to the same strict guidelines.


TSroystevenung
post Jan 31 2021, 10:45 AM

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