medical card "vs" Early & Advanced stages critical illnesses

Whether medical card enough and no need critical illnesses? because can use medical card for critical illnesses

Whether socso can claim for Early & Advanced stages critical illnesses?

I am poor people and want minimum coverage only.

Currently holding 4 policies as below:-
1) Medical card - RM100,000
2) Life / accidental / TPD - RM300,000
3) Accidental / TPD - RM50,000
4) Company paid for accidental / TPD - RM30,000

You seemed to be well informed on the fintech. How would deartime prove b40 status? LOL...

Gathercare... let's no go there. Crowdsharing does not sound legal.

Hi Sifus, I’m 28yr old male this year, currently looking to update a new insurance policy. Recently contacted GE agent and given proposal for the following ILP
50k life
50k TPD
50k CI
Waiver
1m medical card, rm300 deductible, 150 r&b
All these for monthly premium of rm216, coverage till 100 y/o

Almost wanted to sign up for it but after going through the policy, found out that after 70y/o , my premium drastically increases to rm1k+ PER MONTH with increments every 5 years. This is kind of a deal breaker for me because from what I know, premium for ILP is supposed to stay relatively constant since you’re paying high from the beginning unless the investment portion cannot cover for the premium later on right? Any comments for this?

Thanks Ramjade for the reply. Yes I understand that Investment part of ILP is used to offset the increasing premium later in life and I’m not expecting any monetary returns. Agent has also told me that premium will increase certain % every few years due to medical inflation. When I asked to change to 80 yr coverage instead with the same plan the premium increased to rm300 monthly till 80. (Will prolly expect it to increase till 400-500/ month later on in life but at least the policy doesn’t show such a drastic increase in monthly premium as per the previous table)

Thanks for the suggestion regarding Medisaver.Will definitely have a look at it.

Wanna to ask for life insurance, which company provides the better coverage and premium?

Tried search online but the coverage is too low.

DearTime eligible for B40 only?

This is quote for Medical Card for 13 years old from Fi.Life. Is there any better medical card than this ? Or anything special T&C I should be aware of about Fi.Life ?

There is always a better medical plan out there.

T&Cs wise, you may refer to the brochure / product disclosure.

By opting for online products, you will not get any servicing. The premium are usually not any cheaper as compared to getting through an agent.

Hi,

Any comparison chart for online medical plan VS through an agent medical plan?

I have a tendency to agree with you that at some point in time, the agency distribution system would end.
However, seeing how U for Life failed, and Fi-Life hanging by a thread, with "cheap" as their only USP, I'd say we're far from ready as a society.
If our online platforms couldn't even get Term products through to our market, what makes you think by offering more sophisticated products would lift them off the ground?
Recently I've been imagining Insurance contracts in the form of NFTs.
THAT could certainly work.

Like it or not, brand matters, track record also matters.
Any U for Life policy holders here?
If the Life Insurance sum that you bought was as important to you as it should be, how did it feel that you effectively outlived your insurance company?
How does that instill confidence to consumers like you and me?
I don't know about you, but my policies kick in to provide 20 years for my family.
20 years of whatever that matters to them when I'm no longer around.
I'm not rolling the dice here.

Again, there's a product and plan to cater for all segments of the market.
Talk to your friend, your Life Planner, your FP/FA.
And I mean allow them the time of your day, not "let's make it a quick one".
Why leh?
Cuz it just shows you're not willing to pay attention.
How can they in turn take you seriously?

Have anyone used fi life before? I wonder for their yearly renewable medical card, is it guaranteed renewal? It says it is guaranteed renewal up to age 100 but it does not say if it is under the company's discretion.

Policy Renewal / Renewal Premium
(i) This is a yearly renewable policy. Unless renewed, the coverage will cease on expiry date and the insurance
company shall strictly not be liable for any expenses that take place after the expiry date.
(ii) The renewal of the policy is at the option of the Policyholder until the occurrence of any of the following:
(a) non-payment of premium or premium not made on time;
(b) fraud or misrepresentation of material fact during application;
© the policy is cancelled at the request of the Policyholder;
(d) the Insured Person ceases to qualify as a dependent based on the definition of the policy;
(e) the Insured Person attains the coverage age limit specified;
(f) the death of the Insured Person; and
(g) termination of coverage for all policies in a certain market and the Company withdraws this policy completely
from the market in accordance with the Portfolio Withdrawal Condition.

is there insurance plan without any investment or saving link plan? when i ask my agent, she keep telling me all insurance must link with savings.

Is this for medical protection or normal life insurance?

If you want to buy medical plan, still advisable to buy with IL. I give you analogy la...

I open a chicken rice shop. My customer come and buy chicken drumstick only. Do i sell? Nope. But i can sell chicken breast only, cheaper, drier meat.

If my customer come and buy chicken drumstick WITH rice i will sell.

Put this analogy where the chicken rice shop with the insurance company. The standalone medical plan do exist but usually the benefits are slightly less superior aka the chicken breast.

The medical plan that comes with the IL plan is the chicken drumstick. You want better benefits, you can get but also pay more.

While this is not always true but good enough to give you some idea.

Btw, Some companies dont even sell standalone medical.

  what happened if I surrender some subscribed plan 

Noted :thumbsup:

Meaning existing insurance has to cover as long as illness is diagnosed after inception (plus x period of 'cooling' off or I don't what is that called that for eg. you can't claim within 2 years you bought the insurance)

And IINM my medical card claim I will always need to bear 10% of the total, this feature is called co-insurance, right? And the benefit of having this is lower premium? Like if I want to change to 100% bear by insurance then my premium will go up

1. No such thing as within 2 years cannot claim.

2. That depends on your insurer and the plan offered.

I don't understand woh, please explain to me

You clearly don't know what contestability period is.

Why not I give you 1 more try?

Sorry, wrong again.

Here, let me teach everyone including you.

The insurer has the right to deny and investigate a claim during the first 2 years if they suspect there is a fraud/misrepresentation.

It doesn't mean they "WILL" deny claims in the first 2 years.

Also, the insurer can still deny your claims even if it's >2 years if you have committed fraud/misrepresentation.

Hahahahaha
Nobody trying to cucuk you la bro. 

I truly enjoy your passion on the subject! Keep it up!

I don't know if you will take my word for it.
And I have handled 167 claims so far (and counting) in my decade-long career.
Here's what I can share with you regarding the first 2 years, aka "contestability period" (this is the actual jargon btw):

For easy reference, let's have a distinction between accidental injuries and illnesses.
(I will be skipping first 30-days, 90 days, and 120 days waiting periods)

Like what @lifebalance mentioned, the first 2 years contestability period is there mainly to prevent any fraudulent behavior.
Considering the very generous offerings of Medical Insurance here in Malaysia, I believe we can all agree that this is fair to the insurer as well, kan?
After all, most people in our society are good folks who understand the value of working within boundaries of contracts and laws, so the legal system then protects our rights and interests.  :thumbsup:

So what actually happens during the contestability period?

Yes, the insurer reserves the right to investigate. The term is to put your claims on "HOLD", while investigation efforts take place.
So can we all agree that "being put on hold pending investigation" does not carry the same weight as "reject"?

You may ask "Why need to investigate? My policy issued already leh, approved already leh! Now want to play around with me ka? I sue kao you! (followed by colorful expletives)"
During the application process, there is a "Health Questionnaire" that will ask you about your height and weight lah, medical history lah, your parents medical history lah, if you're pregnant lah, got do health screening recently or not lah, etc.
The expectation is for you to answer these questions to the best of your knowledge, and to be as truthful as the truth can be. This is my best effort at giving the definition of "utmost good faith".
So if you did answer these questions to the best of your knowledge, just let the insurer run the investigation.
How does it work?
The insurer will send a simple letter to all the registered and licensed medical facilities in your area, asking if they have records of you ever being diagnosed for whatever that you are claiming for, or anything related.
When all the replies come back negative, then the amount you're claiming for will be released to you.
Quite a fair process, no?

Let's say the insurer really got a reply from one specialist that say "ya, I treated this mofo for this issue before. Here are all the past records. Why ah?"
Then you might as well just surrender the policy if the insurer doesn't auto-void it lah.

So the above is for the part of "illnesses".

What happens then for accidental injuries?
No such thing they won't cover la, just terus masuk.
Just pay attention to the coverage for "Emergency Accidental Injuries"
Outpatient procedures - something simple like sapu ubat only or some simple dressing to prevent infection are generally not covered.

So what constitutes an "accident"?
1. secara tetiba
2. it is violent - blood exit the body where it's not supposed to.
3. external impact - impact from outside the body.
Any combination of 2 out of the 3 listed above, kira accident.

I dunno about other insurers, but for AIA, dengue also kira accident.
Think about it...
Nyamuk land on you - secara tetiba
then the nyamuk sting you - external impact lah tu
The nyamuk suck your blood - blood exit the body
3 out of 3... accident lah

I hope I did shed some light on the issue being discussed.
Sorry lah, a bit long-winded
Comes with age.

If there is any insurance agent here that can explain how to maximize your tax returns it will be great. And I mean actually having the option to withdraw after say 10 years while maximizing your income tax returns

But doubt so. Most of you guys are just money grabbers that's all.

Appreciate your honesty.

I was thinking if they had those kind of special investment link policy which is also associated with medical or life investment at the same time associated with investment.

Those kind of structure plans.