Need the insurance experts to review my insurance coverage. Going to retire soon (with some non critical medical condition) and let me know what unnecessary insurance i could cut/reduce to minimize expenses post retirement.

1. Life Insurance A (investment linked):
    Life/TPD - 100k
    CI - 50k
    H & S - annual 1.375mil, room & board 200
    Monthly premium - 450

2. Life Insurance B (investment linked):
    Life/TPD - 210k
    CI - 150k
    Monthly premium - 216

3. Life Insurance C (investment linked):
    Life/TPD - 100k
    Monthly premium - 100

4. Life Insurance D (whole life):
    Life/TPD - 50k
    Monthly premium - 770 (auto paid by deducting annual bonus declared)

5. Deductible medical insurance (general insurance):
    Room & board - 500
    Annual limit - 150k
    Deductible - 10k
    Annual premium - 350

6. Family PA:
    Sum insured - 500k per adult
    Annual premium - 1150 per annum

This is what i think i should do (assuming kid's education fund is taken care of):

a) cancel life insurance C, deductible medical insurance and reduce coverage of family PA (maybe to 200k) immediately upon retirement
b) cancel life insurance D upon end of TPD (age 60)
c) should i cancel life insurance B upon end of TPD (age 65)?

Let me know if you have other opinion/option/suggestion to better optimize insurance cost/coverage after retirement

I am presently paying roughly RM875 p.a. for SMX200+SME200 while for SMS-250-D I will need to pay RM975 p.a. so it's pretty much RM100 extra.

Pros:
1. Significantly higher annual limit
2. SME benefit of 10% increase to R&B is incorporated into this plan
3. Higher starting R&B of RM250
4. Some additional outpatient coverage

Cons:
1. RM300 deductible but I'm completely okay with this as the purpose of the medical card is to protect my tail risk
2. RM100 extra per month (but getting SE120K would've cost me an extra RM93 anyway)
3. Lose out on the other SME benefits (which are included in SMSP) but I'm okay with that as the 10% increase to R&B every 3 years is already part of the base plan

Am I missing anything?

As for illnesses, so far I've never claimed from my plan and to the best of my knowledge I have not developed any medical conditions.

How easy/difficult to make the change? Anything else I should be worried about? Can I do on my own? (Assume my agent is MIA)

Hi guys I need some advises for insurance. I admitted to hospital lfew week back, hospital side helped to apply for the initial GL from insurance company and it approved. 3 weeks Iafter i discharged and hospital yet to get final GL from insurance company, now hospital billing dept call every week and ask me to follow up the payment with insurance company. Is this a standard procedure? If hospital didn't get payment, do I have to pay the bill myself? But I have gotten GL before admission, so the responsibility should be between hospital and insurance company?

Hi Sifus,

I am in late 20s and paying RM280 monthly for this GE medical plan.

I believe annual limit coverage is 1.2 mil and no lifetime limit, coverage until year 2073.
(can someone explain to me the 132,000 amount and for those policy that end in year 2092)?
Daily hospital board coverage is RM 200 per day

Need your expertise to advise if my current medical plan is ok compared with other plans in the current market?
Is there anything i can add (or get another insurance) to improve on my existing policy?

Thanks. So in summary, my policy medical coverage is annually 1.2 mil until 99 years old?
If I'm hospitalize (touch wood) do I need to pay upfront cost first and claim later, or insurance company will pay the full upfront cost.

Do you think my policy is comparable to other plans in the market, and is there anything that I could add to increase the effectiveness of this policy?

Hey guys, wanted to get a second opinion on Hong Leong Assurance (HLA) MediShield III medical card.

A bit context about myself, I’m currently working in Malaysia but will be going back to work in Singapore next year, so I needed a medical card which could cover my stay in both Malaysia and Singapore. I’m currently using AIA medical card which from my understanding is covering hospitalisation in both country.

An agent is recommending HLA MediShield card and said that this card could be used for hospitalisation in Singapore. After reading the product fact sheet, it seems to be cover some specific procedure in Singapore such as surgery related to cancer but it doesn’t seems to mention in the policy it would cover other hospitalisation charges in Singapore.

When checking with the agent, he was pretty sure it has similar coverage just like the AIA medical card, anyone is familiar with this topic?

Personally I’m quite interested in the deductible HLA offered and the cheaper premium it has but definitely not worth it if it won’t cover my hospital bill in Singapore