QUOTE(BacktoBasics @ Mar 9 2020, 03:31 PM)
guys, usually do we need to purchase medical insurance when we are already employed in a company?
yes, more recommended to have. just in case you are not working in that company anymore, at least you have something for yourselfhow much coverage should i be looking at?
For a long term one, most companies offer RM1million annual limit.on average is how much? I am 31 btw. Male - non smoking.
average of RM250-RM300/month for something that provides critical illness payout and medical insurance.hi BacktoBasics, hope the above can help you
QUOTE(TechnoG @ Mar 9 2020, 09:44 PM)
» Click to show Spoiler - click again to hide... «
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
hey bro TechnoG, based on the premium you are paying, I will your plan covers quite good. cannot comment much on your medical card. the top 2 priorities I will look into is usually medical card and critical illness payout amount (to replace income during recuperation/treatment period).
QUOTE(anwa @ Mar 10 2020, 06:29 AM)
» Click to show Spoiler - click again to hide... «
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.
hi anwa, there is no right or wrong. different people got different thoughts. love your input here. for financial and risk planning, ideally its good to plan till at least 80 (yea you are right average lifespan for male is 72~75 and female 75~78). However, insurance plans now have the option to extend when it reaches its plan term. so yea this really solved most of the consumers' problem.
QUOTE(thomasjames @ Mar 10 2020, 06:41 AM)
» Click to show Spoiler - click again to hide... «
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 ?
hi thomasjames, in that case you check whether your medical insurance covers outpatient accidental treatment? because most medical card has this benefit attached to it.
QUOTE(kazekage_09 @ Mar 10 2020, 12:28 PM)
» Click to show Spoiler - click again to hide... «
Thanks for those replying me on deductibles on V5.
I have a few questions more about this.
Still using my example:
Med Card A AL 20k
Med Card B AL 1.2M 20k deductible
Do I must fork out my own money first then do reimbursement from the 2nd card? Let say total bill is 50k, I using the B card first, do I need to pay the first 20k and claim later?
yes, if you claim from M.Card B, you need to bear the 20k yourself first.2nd question is this deductible apply per admission or per year?
check the fine print in your policy book. normally its deductible per policy year. if not mistaken there are some that is based on per admission/disability. can you double check your plan/medical card name so we can clarify for you?Considering this scenario which is I only have Card B
Year 2020
Bill 1 10k I pay 10k, insurer B pay 0
Bill 2 15k I pay 10k, insurer B pay 5k
Bill 3 10k I pay 0, insurer B pay 10k
Year 2021 the 20k deductible will be reset?
yes if the deductible is based on policy year (or calendar year, check policy fine print).If this is correct, how hospital gonna know I already billed 10k on 1st visit/bill when I want to pay for my Bill 2?
the hospital wouldn't know. it is when you try to apply for GL during admission, insurance company will liase with the hospital regarding the bill amount that you need to pay/not pay.hi kazekage, very good question that you brought up
answer in spoiler