If you are buying a individual plan under his name, as opposed to a family plan, the medical plan will stay with him for life, until you/he change to another medical plan. You can pay for him, till such time he can pay for himself. Plans and T&C ,may change over passage of time.

If what is offered is sufficient for you or comparable if you were to purchase one for yourself; then you may not want to buy one for yourself. But the risk are if it is removed or no longer available if you were to be terminated or resign and your new company does not provide one than you may need to purchase one. But more importantly is, will your medical condition remains the same as today when you were to purchase a personal plan in later years. Medical Insurance cost goes up annually.

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.

Understand your needs and buy only what you need.

Well, you can fall back to the goverment hospital, not necessarily as a last resort. They provide good care. 😁

You may want to relook at the riders that are attached to the policy, they are costed into the total premium, if your aim is to lower your insurance premium commitment.

But bear in mind PA only pays accidental death, whereas life policy pays for death from natural/illness causes.

Yes, medical card only covers your hospital stay, within limits.
Your life policy may also pay for Total and Permenant Disablement, this may be result of an accident or other reasons as stated in the policy.

As there are as many insurance products as there are insurers, the best medical plan would be what best meets you needs. Basic information and any medical history would be taken into consideration when preparing a quote.

Both the sales illustration and policy should provide information if it's renewable. Ask the agent to point out the specific clause that's it's renewable. But generally all insurance companies do provide renewal option currently for investment linked policy.

For AIA, you indicate as you purchase the policy if you want to renew, then no further underwriting at a later age. Takes away the guesswork. Just continue paying your premium to maintain your policy. Can't comment about your current policy.

5 years is a bit too long to do anything now. You may want to read up on term policy if your primary aim is solely protection. But check out what riders you can/cannot add in a term policy. Investment Link policy gives flexibility that a term policy does not.

Unless you are of the view that the riders (add on) are unwarranted, I believe the agent, in good faith, ticked all available riders😆 (based on brochure), in wanting to meet your medical & health protection. 

On your other question on buying a medical policy now, if your intent is only  to get coverage for hospital stay and related cost, than you can opt for a standalone medical plan. Or you can source for other available options.

But be noted that insurance cost for medical/health will increase as you age irrespective whether it's standalone or investment linked.

Saving money for rainy days should ideally not be meant to cover medical or health related cost, as there are many insurance products available for you to cover that risk. Thus it would be prudent to cover yourself with adequate insurance policies and use your life savings for retirement and other more challenging needs that cannot be covered by insurance.

Exclusion on communicable disease is also a risk mitigating provision by insurance companies as not to seriously erode the pool of funds for a specific event.

However in this instance of COVID19, insurance companies had taken the initiative to remove the exclusions so that policyholders are still eligible for any treatment and related cost.

The latest rates are as follows:

Plan 150: RM907+RM170 = RM1,077

Subject to any new rates to be announced in future.

Yes, please read up from Page 5 on the same subject.

Good morning Lovebird51.

Below is a list of life insurance companies in Malaysia, and all should be 'trustworthy' as they are regulated by BNM.

Probably your intended question is how good is their customer service, which is very much dependent on the company and the individual Life Planner you deal with.

All the listed companies, including AIA, do provide life, critical illness, health & medical insurance. 

You will need to provide personal details and health condition for a more detailed assessment.

But the premium should be in the range of RM200 to RM400 per month subject to your needs.

http://www.liam.org.my/life_insurance_companies/

The latest rates are as follows:

Plan 150: RM907+RM170 = RM1,077 per year.

Though it's generally said that ILP medical plan has a lower COI than a standalone, it's not necessarily the case for all age band. For some age band you may find that ILP has a higher COI than standalone plan. In some instance the benefits also vary that making a apple to apple comparison difficult. Also if it's a basic medical plan, the difference may be insignificant.

Good morning.

I thought you queries were already addressed previously. Read the following link for more information. Or call your agent for more comprehensive explanation.
https://www.thestar.com.my/opinion/letters/...costs-explained

Good morning.

You may consider AIA too.

Your annual budget is RM2,400; you could opt for

Death/TPD/CI - RM100,000 + Medical Card.

Hi RAL,
If you are only looking for Hospitalisation only, then medical card may be sufficient. But if you want a comprehensive medical coverage including illness than an Investment Linked Plan may be more suited. Kindly provide more info on your needs.

Thanks,
Rajandran

The right company would be the one which cover your needs 👍