Medical card is to help you pay for your medical bills,...
what about income protection to substitute your lost of income due to lost of legs, cancer etc etc?
what about protecting your hard save money while you live to sustain your life out?


This post has been edited by MUM: Jan 31 2021, 03:47 PM

hi Pohziliang96, you can consider very basic amount of life insurance to cover any liability you have on hand. this is to at least not leaving liability to family members. if you have no liability, then perhaps can buy a small sum amount of 20-30k as bereavement benefit to family members also. not compulsory of course, just some idea on what life insurance can be used for.

Thanks for New Thread.

I thought medical card has covered all the fees like hospitalisation and surgery?

yes,..medical card has covered all the fees like hospitalisation and surgery;
it is what happened after the surgery?
legs gone cannot work anymore....how?
or cancer made you weak cannot work anymore....how?

Pohziliang96, medical card alone is incomplete. If single status, is crucial to ensure financial independent even during critical conditions like C.HA.S ( Cancer, Heart Attack, Stroke) etc. After hospital treatment cost paid off using medical card, these conditions may force us to stop working or unpaid for certain period (3-5yrs).

This post has been edited by KLlang: Jan 31 2021, 04:03 PM

1. Life insurance if you got debts to settle and wish to pass down the assets debt free to charity or extended family

2. The life insurance normally comes with total permanent disability so if you want to take care of yourself should you be disabled permanently one day, then the insurance payout will help with your living expenses

You may also want to look into personal accident coverage. Which covers into loss of any one limbs, accidental death.

3. Critical Illness if you wish to cover in the event you're unable to work for a period of time due to critical illnesses, the payout will be able to help you pay off your living expenses

4. Medical card basically pays for the hospitalization fee only. What happens after you are discharged / finish with follow up is pretty much on how healthy is your cash flow.

This post has been edited by lifebalance: Jan 31 2021, 04:22 PM

thanks for sharing
I always thought a medical card is already sufficient
Seems like I’m wrong now
Thanks

It's definitely more than just a medical card which is just one aspect in insurance planning.

Hence its always advisable to get a comprehensive plan so that all aspect are covered.

Life is uncertain at times. Medical card will pay your hospital and surgery cost. If incapitated, life Insurance with TPD will pay out and similarly critical illness benefits will pay if covered.

Hi guys,

Currently holding a SmartProtect Essential with SmartMedic Xtra plan with Great Eastern since 2012. Thinking to spend some time to review the insurance plan that I bought because normally I just follow what insurance agent suggested.
Currently is 32 years old, working low risk job, non-smoker. Want to ask a few questions hope sifus here can clear my doubts:

1. If my company provide a company medical card with 80k annual limit, is that okay to sign up for deductible plan with deductible 80k for example? I assume I can change plan in the future to non-deductible plan without issue right (For example when I retired)?
2. Just wondering is there a way we can 'DIY' to compare the plans offered by different companies, or we straight talk to agent and ask for quotation then compare?
3. Personally prefer Prudential or AIA over Great Eastern. Just wondering is that still worth to switch since I already holding a policy with Great Eastern? I assume the benefits, premium, and claiming process should be almost the same across these three companies right?
4. What is the recommended R&B, I assume RM150 will be too low and RM200 onwards should be acceptable right?
Thanks a lot!

1. Depends on how long you plan to stay with this company [Possible scenarios: Laid off/Change of job instead of retirement]

That being said, it'll be subject to your health at later part of your life if you'd like to change it back to a lower or non-deductible plans.

There is however a plan that allows you to convert to a non-deductible @ Age 60 which is Allianz atm.

2. Consult a Financial Adviser Representative and they'll be able to give you a non-bias fair comparison

3. Premium is not necessary the same as the cost of insurance is different for each company as well as the benefits. For a better comparison and review, best to consult a Financial Adviser.

4. That depends on what's your expectation from your insurance policy to payout to you when you're hospitalized. Will you be satisfied if the insurance company pays only RM150 at the moment? if not, what will be the amount that you're happy with ?

Again that could boil down to the level of care that you want the hospital to provide to you without you having to fork out extras for it.

Hope that answers your questions.

You can use it for funeral expenses purposes.

As for the death claim timeframe, it ranges from 9 working days - TBC depending on whether the case involves any investigation or it's very straight forward case

However, the above timeframe is not general, depends on how quick you can assemble the docs as well and hand in.

Some death claim benefit can be rejected due to:
1. the cause of death does not under the ambit policy/contract/certificate’s benefit,
2. breach of terms and conditions under the policy/contract/certificate,
3. death due to suicide within the specified time-frame mentioned under the terms and conditions of the policy/contract/certificate. (Commonly this would be for a-12 month period),
4. policy/contract/certificate is not in-force,
5. non-disclosure or incorrect information provided at time of proposal/application,
6. pre-existing conditions (depending on the terms and conditions of the policy/contract/certificate).

What doc you need to prepare for Death Claim?
1. Claimant Statement – Death Claim
2. Certified Death Certificate
3. Claimant's proof of relationship to the Deceased (i.e. marriage certificate, birth certificate, etc.)
4. Certified IC of Claimant
5. Policy Contract / Bond of Indemnity with Stamp Duty

Additional documents for death occurring within 2 years from date of issue or reinstatement:
1.Attending Physician’s Statement - Death
2. 5 copies of Consent Form & Patient’s Card

Additional document for Accidental Death:
1. Certified Police Report
2. Certified Third Party Police Report (if any)
3. Certified Post-mortem & Toxicology report
4. Certified Burial Permit
5. Newspaper cutting (if any)

Additional document if death occurred in overseas:
1. Certified JPN Letter
2. Certified death certificate issued by the country where the Assured had passed away

This post has been edited by lifebalance: Jan 31 2021, 09:55 PM

For DIY, you can read up websites like RinggitPlus or iMoney to get some idea and then consult the agents to review better ways to address your concerns.

You can buy a life insurance and bequeath as beneficiary to who would pay for the expenses.

hi TaiGoh, hope my replies above helped

If you decided that, then med card is enough....but this is assuming you have no loved ones on this planet which I suspect is not true.

Thanks lifebalance and lifebalance for your reply!
The reason I ask for a deductible plan is because I would assume that deductible plan premium will be a lot cheaper than non-deductible plan. So I just wondering is that a good idea to opt for a deductible plan since company already provided the benefits, then the premium saved can be utilized somewhere else. Or normally when hospitalization needed, it will be always advisable to use personal medical card first then followed by company medical card when over limit?
I am not so worried about I got laid off, but change of job could be possible. I not sure how the policy works but just wondering whether it is possible to adjust the deductible amount or even adjust to a non-deductible plan in the future. And whether worth it to do so? And I assume that there will be no waiting period and contestability period need to be served in this case if within the same company?
Thanks!

yes TaiGoh, deductible plan is of course much cheaper. and yeah you can remove the deductible in the future when you want to.

if your personal card has a deductible, then use your company card first. anything that exceeded your company card limit only you claim it from your personal medical card.

TaiGoh, yes, high deductible is cheaper but the premium amount saved is not significant compare to a RM300 deductible for age 32. Also, every upgrade/ lower deductible in future is subject to 120 days waiting and 2 years contestability period.

This post has been edited by KLlang: Feb 1 2021, 08:19 AM

Thanks for the inputs.
Btw, what is the variance In premium per year between a 80k deductible n a non deductible plan for his age?