Yup. I strongly encourage you to go for that option instead of buying medical insurance for your kids that covers from 0. You do save quite alot if you compare it.

I am not a parent but practically speaking kids do get sick often but 20k a year should in theory be enough. Then again insurance is for the really unexpected scenario. Touch wood.

I dunno how your employer version works but for mine, i can view the name of my spouse in my app. Sudah register 3+ years ago when i joined. So can really masuk hospital and show the information from my app to the hospital if it happens.

Depends if you want match the exact deductible amount. If the deductible you want is 20k, i think AIA and Pru has. AIA has it for standalone plan. I am sure many others probably has also. Just not highly promoted.

It works also one. Just the actual claim process may be abit ma fan.

My own policy is 15k deductible. Bought when i was fresh grad. My employer cover me 80k.

If i kena masuk hospital 100k, in theory i should claim 80k from my employer (company A) but the balance can claim from my own policy (company B).

Just that since A&B not same, need to submit paper work etc. I have not done it before obviously, but in theory la.

Ok so what you mean is you want a standalone medical plan. You can try out alternative

If you feel comfortable with tokio marine, go ahead. All same same anyway. As long as not too expensive, easy to transact.

This post has been edited by adele123: Sep 27 2024, 11:13 PM

Yup that's the spirit I hope more people have. Actually nowadays I submit my outpatient claims via the app.

When I masuk hospital in 2023, also hospital help apply GL. Can say minimal things I need to do.

If depends on what you have bought.

For example deductible of 1000. In certain lingo, it is called excess. What does deductible 1000 means? Basically regardless of what the hospital bill amount is you pay 1000. Everything above that 1000 is borne by the insurance company. Of course, subject to available limits applicable

There are different type of deductible amount offered in the market. It can be 3000, 5000, 10,000 etc...

The question here you may have is what's in it for the customer when they buy such medical plans? The premium will certainly be cheaper because you borne a lot of the expense upfront, so insurance company charge you less. The higher the deductible, the lower the charges will be.

How much cheaper? Is it worth it? This is where it gets muddled.

To me, worth it. Do I practice what I say? Yes, my policy has 15k deductible. Owned it since 2014.

This post has been edited by adele123: Oct 8 2024, 10:35 PM

Depends on what product you have. That could be the case. Their latest product being sold do have abit more option
RM500
RM20K
20% up to RM20K

There should be a 3rd option, which is pay the revised premium to support high charges in future.

Having said that, i would go with 5k deductible. Good amouny to start.

There is not many standalone medical plan in the market. If you dont have a policy now, buying another standalone medical plan is fine. If you already have a policy now, if you surrender buy new, it is usually not advantageous. Because you are paying new "fees" when you buy a new policy. But it really depends on the situation.

I admit i may not be explaining it well but also because i am limited by pure text, cant draw etc...

This post has been edited by adele123: Oct 10 2024, 10:56 PM

When can claim, no one post on social media. When cannot claim then post on social media. I am sure whatever industry you work in, it's the same right?

When you buy on kaotim, it's somewhat of a self service, since no agent to help you out. If you are not used to it, there is bound to be some problem. But for those who have employee benefit, you should be sorted of used to the insurance system per se.

What is the definition of workable here?

Is your expectation that you dont have to pay a single cent, both the insurance companies can directly settle your bill since you say both will have cashless facility. Example 100k is the bill, then 30k is settled by AIA, and 70k is settled by GE?

If that is your expectation, in theory it should work.

The real "difficult" part is ensuring GE can handle the 2nd portion of it. 30k settled by AIA is a normal process. GE portion of the process is normal too but more rare... later hospital also blur sotong.

You buy from the any insurance companies, they all will offer critical illness protection. The bigger few is likely to have standalone CI plan and CI riders. If you already have an ILP policy, you can just attach the rider to existing your current policy.

What you need to compare is usually budget and whether you prefer something with early conditions covered or only late stage. Early conditions of course less severe conditions but will cost more as well.

I googled. It says rm50 subsidy, does not say every year.

Looking at the list of participation, most seems to be selling life insurance. Medical is not on the list.

This post has been edited by adele123: Oct 21 2024, 12:26 PM

Hello. I went to Generali website and i saw it's eMedic Plus. Is yours "plus" or without plus?

Also when is your new premium due?

Ok... the thing is... are they really exactly the same? Everything exactly the same? If you have done your homework then yes, you can cancel your current one and buy a new one.

So, what is the catch?

If you do buy a new one, you need to go through the process again. If you are young and healthy, go ahead. if you are not, if you buy a new one, you may be subject to new rules. They may say, oh because you are obese, i need to charge you 50% more or because you had this illness i cant cover you again.

Again, remember, please download the eMedic Plus contract read line by line. The onus is on you to read. When you buy means you agree to the T&C again.

You have few months to think... dont need to pull the trigger now.

Also i notice eMedic Plus has an option to go for RM1000 deductible. I will advice you to opt in for it. You save money from there. The discount is there because everytime masuk hospital need to pay rm1000.

But... 1000 is really not a huge sum of money in the grand scheme of things. I believe average income earner should have emergency fund more than 1000.

This post has been edited by adele123: Nov 5 2024, 11:50 PM

READ HERE... do not simply cancel your current medical policy

Please read the post i have written... LONG post but it will benefit you...

Switching is not always advantageous.

Do you have employee benefit covering your kids? if yes, i suggest you buy for your kids later to save money.

you can buy standalone. if you buy ILP, the life component cannot be zero, but minimum can be very low. depending on the company can go below 10,000

Contoh... you can buy standalone from AIA agent. it's google-able. it's called A-Life MediFlex. For allianz, i think they have and may offer it under general license, not sure, but i think got. GE also got, google Great Medic Shield 2.

I have both non ILP plan and ILP. The 3rd and last policy was the ILP policy.

I know what to expect, I know them well enough. ILP does have the advantage of being able to change my coverage anytime. Not that I foresee changing anything immediately. Reason I chose ILP is because I want the CI and medical coverage and adding 50k of life coverage while not needed, is also not burdensome.

Do I know the investment amounts to nothing as I get older? Yes I know. I don’t expect it to give any return, it is indeed my insurance protection.

Since I don’t expect much return from ILP, I just change my funds to 100% bond fund after I had it for one year in equity fund. Now, I think of it like a somewhat temporary bank account to deduct charges for my insurance coverage. I have other equity investment. So I play defensive. Plus the return is really not great. Probably not 1% to 2% like ramjade said but I did take a Quick Look, maybe 3% to 4% last few years for some random equity fund that I picked looked through, which is still very bad to be honest. I decided at such sad return, might as well I invest in bond fund. And I think it was a good decision for me.

So, you can change your investment. Don’t have to wait for your agent. It’s really within our control. Just find out what is the procedure from the insurance company.

i used to think a better fund exist. i used to think i can pick the better fund. but after 1 year of contemplating, i realised it was not in line with my investment philosophy. after all, i am also on the ETF ship. hence the decision to just go 100% bond...

If you feel 400+ is tight budget, read your letter by allianz see if they offer you options to downgrade.

If you opt for medical card that pays 0 when you masuk hospital, it will be very expensive. Very very expensive. To reduce this cost, you can opt for a medical card with deductible. Deductible is the amount you have to pay when you masuk hospital. The usual options are 300, 500, and nowadays 1000.

In the grand scheme of things 500 or 1000 is really not alot. Everytime you masuk hospital you fork out these and the rest paid by insurance company.

Honestly speaking, if you cant afford this 500, might as well save the money from insurance and go to government hospital.

Of course... this is provided allianz got provide this option for you also.

Please check your letter or ask allianz if they have some form of downgrade.

Ok, i think you writing this at 2am kinda miss out some key things cause i dunno what you plan to do.

1) you already have A, so you want to add A1 now? So you will keep both A and A1?

2) the reason you are buying A1 is for the 150k 188 CI?

3) answer to 2 is yes, any reason you need a 800k life insurance?

This post has been edited by adele123: Nov 19 2024, 08:38 AM

So general advices without going to specifics, if you dont have dependent, then 800k is high. Ya, it's for the house but if no one need to inherit the house, then you dont need the 800k life insurance. But i'm putting perspective on one extreme to make a point. But of course things also change in life so, ya...

As for CI, i actually dont know how much ci is enough. I just buy 150k when i was fresh grad, then i buy another 250k last year with early coverage. I think the amount is good enough to cover some major expense, etc. Or quit my job for a year or 2, etc...

Insurance companies are not gonna offer this to the unhealthy ones. If they give you this good deal, most likely they will give it to whom they think is healthy. if you claim cancer or anything chronic, or if you are diabetic, they definitely wont give you this upgrade offer. provided of course, they know...

EDIT: typo

short answer, not true.

long answer, there's alot of nuances to the differences of how standalone medical works and how ILP works which gave this perception. alot of people think the "investment portion" is supporting the increase of healthcare cost. It is somewhat helping abit but at the end of the day, you still need to pay for it. in a way, it's kinda you paying it earlier, so now you can delay the increase, but if you delay increase now, you need to pay more later.

In an ideal world, if you manage your investment well on your own, your buy ILP medical, but you pay just enough premium every month to offset the charges. but not enough enough to have alot of surplus in your "investment portion" since we keep arguing the "unit trust" all charges high fund management charge and they perform badly. this way, the company dont earn your FMC and you get the better medical coverage from the one they offer under the ILP plan. but this will be too much work. and the insurance company probably dont make it that easy for you to pay premium when you like it...

(sadly, this is true as the FMC for equity funds are 1.5% and we know this number is absurd and you average 4% 5% p.a. return, might as well i put in EPF or FD, at least FD i get 4% without the fluctuation).

This post has been edited by adele123: Nov 25 2024, 09:18 PM

No, your premium dont increase because your health condition has changed. your premium however will increase if everyone else, together with you claim more than the total premium received. Why? because insurance is about risk sharing

The exception to this is the recent product launched by PruMillion Active where the customers who dont claim will pay less, customers who claim will pay abit more. However, Prudential is also transparent about the % of difference between the customer who didnt claim, and customer who did claim.