This summary sounds about right.....

to note this small part: "...even if you die, ..your beneficiaries will still get the payout and enjoy the proceeds."
this applies to life insurance or CI etc... not true if it is medical bill, because the chap had to pay out of his own pocket... so it is his own money

Yeah,yeah.
The beneficiaries still get to enjoy That reimbursed money

inflation adjusted I hope? in case it takes another few years to clear paperwork... hehe

Very likely less than what the sum the deceased had paid out.
Bcos the reimbursement are only what deemed necessary for that treatment MINUS many items in the hospital bill that cannot be claimed MINUS deductibles.( if the policy has that requirements).

The beneficiaries still got to enjoy whatever reimbursed.

Hi Sifus,

I’m in my early 30s, have no prior hospital admissions, and I’m okay with paying a deductible to reduce my overall premium.
I have no dependants, and my main focus is on medical / hospitalization coverage (touch wood).

Current policy:
- SmartProtectYou (SPY) with Smart Medic Shield rider (Web Link)
- RM300/month, no deductible

Proposed change:
- Switch rider to Smart Health Protector (SPH) (Web Link)
- Quoted RM150/month, with RM5,000 deductible

What prompted me to consider this change is that, with my current plan, monthly premiums will increase exponentially after age 70+.
I understand I may not reach that age, but I don’t want to end up paying so much in the future.

With the new plan, I would:
- Reduce my current monthly premium
- Reduce potential future premiums at 70+
- Accept a RM5,000 deductible, which I’m comfortable bearing before insurance coverage kicks in

I am aware there is no Critical Illness (CI) coverage for the new plan.
Do you think it’s wise for me to make this change?

*Also as a side note, I was also considering GREAT MediValue (Web Link)
But because it has co-insurance and requires going through certain pathways & referrals before making a claim, I felt less inclined as I prefer more flexibility.
What’s your comment on this as well?


Current Policy and Premium



Proposed New Plan and Premium

I am looking this!

just commenting about the deductible...

are you currently working and hence covered by company medical?
If yes, consider a much higher deductible than just 5K... all the way up to 50 or 100K rm.
and see how much cheaper the premium can get... then make your decision.

reason: by the time you are not covered by company medical anymore, that is like 25 to 35 years later.
thanks to inflation and your wealth later in life, 50K is more affordable.

No, I'm not covered by company.
Will be out from my own pocket.

Touch wood, hopefully don't have to get admitted, maybe once in a blue moon, so don't mind forking out 5k max

the highest deductible is 50k..

No la. Just what I am doing personally. Nothing about scare tactics. That is what my agent said if you don't want any problem with your GL, what 2 years before using it. Otherwise you need to pay and claim. So honest.

One question, if person insured die, plan stop paying, counted as lapse so why would insurance company want to pay out a lapse policy? Just a a thought.

Image Material from,

https://www.greateasternlife.com/content/da...pp-brochure.pdf

This post has been edited by MUM: Yesterday, 08:44 AM


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Because, the deceased was still cover by his "active" insurance plan before he died and lapsed after his demise

Material from

https://www.greateasternlife.com/content/da...pp-brochure.pdf

For 1 of their product.

Wow, 50k, ....just think of the amount of money saved by both parties.

If no incident,
Insured saved on premium, company saved on the payout amount.

This post has been edited by MUM: Yesterday, 08:52 AM


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mine is from AIA. I have old medical card with 100k annual limit. So if anything happen, I can pay the 50k deductible using old card first. The downside of my plan is that it is family plan + 4 children. So I need to continue paying price for family plan until ALL my kids turned 23 years old then the plan will revert to single plan.

Just remember to make sure that the old plan ( even after reverted to single plan) are still active and the maturity date (end of coverage year) is longer than the maturity date of the new 50k deductible plan. Else hv to standby 50k pa just in case.

This post has been edited by MUM: Yesterday, 03:41 PM