Would like to ask a general question here

Assuming the COI/pax for my company's group insurance is high, does it make sense for me to withdraw the money and use that to buy my own personal insurance, as well as for my spouse (since group insurance covers spouse).

Edit: This is of course assuming the company is flexible in letting me do that

This post has been edited by daijoubu: Jun 16 2020, 10:44 AM

In this case the group insurance is charged quite high due to high claims ratio. As such as there savings if I were to take out my own personal medical card with the cash saved by company.

Giving the cash to me as an allowance is also tax deductible for company.


I'm looking at 2 options presented to me, either Allianz or Prudential. The way I see it, Allianz is about 20-30% more expensive than Prudential, (although depending on how often u claim vs not claim, the % will vary as Allianz has no claim refund and Prudential has RM300 deductible), but generally speaking I can see a slight advantage in Allianz for medical card and better advantage for critical illness compared to Prudential which may explain its higher COI. Is this finding a consensus or am I missing something >.<

Yes it is never apple to apple due to the way they all structure it differently. Throw in no claim bonuses/refunds vs deductibles, it makes it even harder to simulate.