For your budget of 3k/year, you can easily get an investment-linked with coverage for life insurance, critical illness, waiver and hospitalisation.

As for standalone medical card with the highest single bed R&B and annual limit, it can be done with approximately RM100 per month.

1K plus already can get quite higher and decent amount of coverage and room rate.

The widest coverage only can come from your own saving. Insurance always has its specific scope of coverage, it cannot cover everything.

For medical card, usually just one medical card will do as the annual limit is usually more than enough to be future proof. As for life insurance/critical illness policies, it is common to own multiple policies at one time.

In some cases, like clients who bought medical card 10 years ago, their annual limit could be as low as RM50k per year. It would be wasteful to terminate the old medical card and get a totally new one, so we usually advise to get a second medical card with deductible to supplement the first one.

A good medical card usually has the following features:

- No deductible
- High annual limit (At least one million to be future proof)
- Covers outpatient cancer treatment and kidney dialysis
- No lifetime limit

There would be no need for a secondary medical card if the first medical card can cover for everything. I would advise to increase your life insurance or critical illness coverage as your second policy.

You need to understand each insurance function.

Life insurance - is to cover your loss of income once you dead, or CI, it is mainly a income replacement that may important to support your family after you died.
But if you have no income currently, or family doesn't rely your income to support their daily life, then life insurance priority become less.

Medical insurance - is to prevent a sudden shock of medical bill needs for illness, but subjected to with medical card coverage. Not all medical bill will be covered across, just like my above dental bill example.

CI insurance - an income replacement to support your life after CI.

Each insurance has its own specific function and scope of coverage. No such thing of total comprehensive coverage on everything. It is not like I have insurance, I need not to worry anything already, or don't need to pay any bills further.

that person may meant that
1. Insurance company not honoring the claims
2. The insurance plan may not cover all aspect (which may be true as not all insurance plan are the same, some medical card may be more comprehensive on certain type of diseases).

Then again we ask ourselves, the industry is governed by BNM, how far can an insurance company deny a claim if it’s genuine?

I’m sure the insurance company also won’t simply reject a claim unless otherwise.

As per your second question.

As per your statement, critical illness is a form of income replacement in the event you succumb to any of the critical illness. Your medical card may cover for the hospitalization cost, but what comes after you’re discharged ?

if you’re unable to work for a period of time then that’s a loss of income. if you have a strong savings account then you’ll rely on it.

However if you don’t, then the payout from the critical illness will help you out