No price increase for great medic shield 2 cause it's new (just launched last year). Of course the increase in premium due to age will be there.
Repricing maybe if it's a super old plan already or insurance not enough to cover people in the pool.
If you take without extender, yes need to pay deducible RM300.
If take with extender, no need to pay deductible.

This post has been edited by Ramjade: Mar 11 2023, 03:55 PM

Up to you. If you upgrade room, you pay yourself the difference in the room.

If AIA and great Eastern too expensive for you, try medisavers. Issue with medisavers
1. Post hospitalisation only 60 days
2. No outpatient GL for cancer and dialysis (you need to pay and claim).

Alternatively you can look at emedic plus but limit max is only RM150k and will increase by 10% every 5 years until max 50% (RM225k). Their room is I think RM250?

You want better room
1. Pay the difference
2. Buy the more expensive plan
3. Buy cheaper insurance but higher room limit

No other way.

This post has been edited by Ramjade: Mar 11 2023, 04:10 PM

Up to person. Different people different thoughts.
Some people just want to cover as long as they work. Cause if you got critical illness, means likely your job will be affected and likely laid off from work, hence you lose your income. So this critical illness is to cover for loss of income.
Some people want to cover for life cause pay insurance so much for what? Need to claim back the money.

Medical card confirm will use eventually.

This post has been edited by Ramjade: Mar 13 2023, 11:14 PM

Do you want to leave something for your kids? If yes then continue paying for CI. If you feel your kid enough already, no need to pay..

Depend on age. If the company give you guaranteed letter, means no need new underwriting. I have only known AIA to do this for old customer who never claim before. Great eastern is never generous and so far never heard them giving such letter.

But generally waiting period starts all over and there's contestability period (1y-2y) to keep in mind.

So if you have any illness your new plan will likely exclude that. So you need to keep your old card for that illness coverage or go to govt hospital for that illness. If this happen to you you got 3 option
1. keep the old plan and don't buy new plan
2. Cont paying the old plan and new plan (pay double)
3. Take new plan and not covered for old illness and seek treatment at govt hospital for old illness.

The general advise by insurance agents are keep both plan if you are healthy. Once the new card cross the contestability period, you can safely surrender the old plan. Depends on you and your financial capability.

This post has been edited by Ramjade: Mar 14 2023, 04:09 PM

The cooling period is in the event one gets diagnosed with stuff like diabetes, high blood pressure etc the insurance will not cover you.

If simple stuff like food poisoning, fever still cover.

But to be safe to ensure that the insurance company don't reject you, to use the insurance after the contestability period (1-2y). By then insurance usually will approve everything (depending 9n what the doctor writes)

This post has been edited by Ramjade: Mar 15 2023, 05:31 PM

Maybe pay first, keep receipt to claim back from insurance company once discharge? Need to ask your agent and see.

Maybe your insurance is old insurance. Hence pool of money depleted. Cannot sustain the insurance policy hence increase premium.

So far from shopping, medisavers (standalone) only increase their premium by 10%. Not sure about AIA or Great eastern ILP
From what the agents told me, AIA med regular with booster and GE GMS2 + Extender (both standalone) no repricing yet, just normal increase in premium due to age.

What I heard is if funds not making money, they have to hike premium to make insurance sustainable. How true it is, I don't know as I avoid ILPs.

Everyone premium will increase with age even those on ILP. Supposedly ILP repricing happen lesser than standalone but looking at last few years of reviews (on lowyat forum and Reddit) seem the other way around. Everyone affected. AIA, GE, Allianz, Prudential

If you don't want to get repricing only alternative are
1. Gathercare (crowd sharing funding for private healthcare)
2. Own insurance fund (aka separate account for medical purpose)
-pay cash but must diligently put in money and don't use that money for something else

Btw you can read here for more info.
https://forum.lowyat.net/topic/4753108 old but still relevant.

This post has been edited by Ramjade: Mar 15 2023, 06:32 PM

That one sure. That's why I said simple stuff like food poisoning, fever likely can. Those that have cooling period of say 120 days IMO better wait 2y to be safe.

Btw I like this quote.



https://www.reddit.com/r/MalaysianPF/commen...egular_medical/

I may be wrong. But ILP seems more expensive in every way.

https://www.mr-stingy.com/choose-insurance-plan/

That's not mentioned fund charges yet at 1.5-1.8%p.a

This post has been edited by Ramjade: Mar 16 2023, 11:15 AM

Actually I did. I just post parts of the article.

As of now AIA and GE standalone cards are guaranteed renewal unless you commited fraud or didn't pay on time. That's why I choose standalone ve ILPs.

Yes there are stuff which standalone does not have like waiver but you can get the same benefit with a critical illness insurance anyway.

The last time cards yes not guaranteed renewal. Not today cards.

This post has been edited by Ramjade: Mar 16 2023, 03:12 PM

Here you go. These are the standalones that I actually considered getting.

AIA


Great Eastern


Medisavers


AXA Smartcare Optimum Plus


Don't worry. He is like that. He won't want to share information if you are not a paying customer. He will share limited or partial info but won't share everything. I will share at no cost as I have all the documents from the above companies with me.

This post has been edited by Ramjade: Mar 16 2023, 03:56 PM

Well you asked for it. Anyway I will stop here. It's out of topic of insurance. You are welcome to ignore my replies as I will yours.



You are welcome to report anything you want..

Thank you.

This post has been edited by Ramjade: Mar 16 2023, 04:51 PM

If parents got pre existing condition, forget about getting insurance as they will exclude that illness and all complications related to it.

If still healthy without illness then up to you. All standalone I have shopped around covers up to 100 years old. Usually last entry is age 70. For me I won't cover myself beyond 80.

I don't have prudential cause they don't have standalone. If you want the cheapest, AXA emedic plus. No outpatient cancer and dialysis. But it's cheap and limit max is rm150k/year. I don't think your mother eligible for AXA emedic plus cause they don't accept above 55 years old. The cheapest old people insurance is medisavers with RM1m+coverage.

When old, insurance premium can be expensive say 9k-15k/year depending on age and what insurance.

Also sometime pay cash cheaper than insurance. There are anecdotal evidence that paying with cash can get discount from doctors and hospital.

Standalone cards that cover until age 99-100 with min RM1m coverage.
1. AIA A-Life Med Regular +booster
2. GE GREAT Medic Shield 2 + GREAT Medic Million Extender 2
3. AXA Smartcare optimum plus
4. Medisavers

Hope this help.

This post has been edited by Ramjade: Mar 16 2023, 05:54 PM

If you have friends working in hospital you know that Rm1m+ is more than enough for today market. Cause 1 admission usually cost like RM6-9k(depending on which hospital, how long you are staying and type of room). If princescott/gleneagles no need to say 😂

Operation is also enough (depending how bad is around 40-50k- if lots of broken bones or major surgery)

ICU is the killer part where 100k might not be enough for your entire ICU stay. If you are there for 2-3 days no issue. But if you are there for like 2 weeks then yes can really drain your card.

That's why for kids and young people (up until maybe 35), AXA emedic plus is more than enough. (RM100k-150k). Just my opinion. Those RM1m+ is those you want to buy for old age.

Of course this will change going forward.

Different plan, different pool. Not sure about deductible Vs non deductible pool.

This post has been edited by Ramjade: Mar 17 2023, 10:31 PM

I think this I have to put in my stand. By you chasing the latest insurance plan, you are basically enriching the agent. Cause you are changing plan every 2-3 years. And you have to pay double insurance unless one is confidence to surrender the old one.

Not to mention if those on ILP are unlikely to surrender.

Thanks for the info. For the same plan name, is the pool same for person with plan bed 150 Vs say plan bed 250? Or 150 bed and 250 beds are separated further?

Agreed. Those insurance agent fear mongering about govt hospital not good is actually bullshiting.

I am not sifu. But this is my experience while shopping for medical insurance.
If you got a new policy, and it's already past the contestability period, and your new insurance fully cover you (no excluded coverage), if it's me, I will terminate/surrender the old policy cause having 2 policy is redundant and wasting money.

However if you got pre existing illness that only your old card cover while your new card does not cover, I will not terminate the old card. Reason is your new card doesn't cover your illness.

Now if your new card is within contestability period, up to you if you terminate/surrender it. If you are in good health, for me I will terminate. If you are not in good health, I will keep both.

These are what I will do if I am in your shoes. Again if you want backup, sub for gathercare. It's around RM500/year (cheap in my opinion)

Keep in mind prudential is always ILP. As far as I know, they don't carry standalone cards with coverage of million (I maybe wrong on that). This is what the agent tells me. I am not sure about Hong Leong as I did not get quotation from them.

For me, I am advocate for standalone cards cause I don't see value in ILPs other than making the insurance company and agent richer. Majority of ILP funds suck big time (can't outperform EPF or FD over long time).

If you want medical coverage max at RM150k/year (increasing to RM225k/year) get AXA emedic plus.
Get a life insurance from dearlife or fi.life
This option guaranteed you to be cheaper than Prudential or Hong Leong.
Cons is it's not ILP.

If you are like me who want medical to be at least RM1m, I will go with the following
GE great medic shield 2+ extender or
Medisavers (cheaper long term but have it's cons)
Likely get standalone critical illness from AIA or Prudential.
And do my own investment.

Most ILP cost min RM3k/year and above. If you want to have longevity in your coverage.

Again I only recommend standalone. No ILP recommendation from me. Not an insurance agent or anyone from the industry.

This post has been edited by Ramjade: Mar 18 2023, 10:06 PM