There ARE many options. There are many insurance and takaful companies who want your money.

Even if you read it on ringgitplus, which i did a quick check, i think all of them are medical insurance that you need to buy through agent. Not something can buy online.

I think most important is the agent gives good advice on what plan to buy. Of course as a consumer, we should also at least reach out to at least 2 to 3 companies to compare and understand the differences.

With insurance, there are many things to customise. Of course i think sure got someone pm you, like can start at RM xxx but i think it's good to understand what you are getting into.

Sorry i didnt answer your questions, let the sales ppl offer you the starting number first.

Depending on what you want and how long you want to cover for

If you want standalone, the cheapest long term is
Medisavers (written by lonpac, subsidiary of public bank)

If you want from the top 3, my recommendation would be AIA. It's definitely more expensive long term more than medisavers. Stay away from GE. Prudential does not have standalone expect if you are going via prudentialbsn
Standalone RM1500-1800/year.

If you are going via ILP route, make sure to make everything min if your focus is only on medical. Cause the more coverage you have and the more stuff you add on, the lesser years you get from your medical insurance. Recommended estimatrd cost RM3000-3600/year.

Keep in mind, the premium increased every year with age whether it's standalone or ILP. In theory you should not see in increase of ILP premium but that's not the truth and you should not expect any cash value from your ILP eventhough it's investment as it will be used to pay your premium. Also keep in mind, usually somewhere down the road, the insurance companies will ask you to topup your ILP. If you don't topup, your sustainability will decrease (number of years, your medical insurance have left).

I took 6 months+ to research medical insurance for myself. So I have more or less the premium for my age.

My recommendation is leave your contact at AIA, GE, Prudential, generali, medisavers, get quotation from them and compare and choose the best that suit what you want.

You could budget around 200 - 300/mth depending on how comprehensive you want the coverage to be. Talk to agents for further details.

The fee waiver is useless. It only cover the basic CI and TPD. If you have TPD, you are basically vegetable. Again thanks to my agent for pointing it out. Her client had stage 2 cancer or something like that, because of waiver only cover the basic 36 illness, the client didn't fulfilled the waiver condition and forced to continue payin for it. Yeah I was tempted by it too when I heard about it. Only one agent had taken the time to tell me about the waiver. The other agents were like oh if you have xyz disease, they will automatically waive you (not true, as mentioned you need to fulfilled the waiver definition and condition).

You can designed your own CI plan which is better than what is included in ILP. I know as I have looked into it. I recommend moneyowl from Singapore. They offer better plans for CI than what Malaysia side offer. Downside is you need to travel down and sign all the documents there and it's priced in SGD. I have not look into life or TPD so cannot share my knowledge on that. Moneyowl is not commission based and they are able to offer you multiple insurance from different providers. You also don't need to pay them for consultation. I consulted with them via Microsoft teams for 2h+ and was satisfied with the plan they came out for me. (50% Cheaper than what Malaysia have to offer for same protection with multipayment, their premium is fixed and you got option to grab life, TPD and CI). Dont take my word for it. Kindly compare with what Malaysia side have to offer and you will see it for yourself.

I favour standalone for the following reasons:
1. Pure insurance. Never ever mix investment with insurance.
2. ILP return sucks. Well majority. Take your time and look though all the investment. You will be surprised they cannot even beat EPF returns over say 10 years. Yes there are few rare cases but as mentioned again basically lousy returns. So basically you are paying extra for lousy returns when you can put the savings into EPF and then use part of it to pay for the insurance in the future and get more than what the ILP can give you. Does that sound like value for money for you? It doesn't sound like value for money to me.
If you are even braver, rather than dump into EPF, if you dump it into QQQ or CSPX, you will get more than EPF returns. (that's what I am doing I am getting min 10%p.a Vs what they can give me)
3. You are paying extra. All the ILP have ongoing fund fees of around 1.5-1.8%p.a (unit trust annual management fees). Over long time, the 1.5-1.8%p.a add up. That's why I advocate for ETF where the fees are only 0.05%-0.1%p.a
4. You are paying extra for life, tpd and CI when you only want the medical portion (if you are like me).
5. With ILP you are forced to topup somewhere down the road or agree to pay higher premium or else your insurance duration will decrease say from 80 years old to only 70 years old (just an example). They can ask you to topup as soon as say 6 months of purchase. How much and how frequent to topup depend on
1. Condition of the market.
2. Fund performance
3. How much money is left in the insurance pool

Yes standalone medical insurance also increase in price. But based off me asking several agents from different companies, all told me the same thing. Usually they follow the projected rates in the table/contract. Rarely they deviate from it unless something really bad happen. So you will know more or less how much you are paying.

Topup is guaranteed for ILP. down the road. It's just a question of when they will ask you to topup. There's no topup for standalone unless they increase the premium above what's projected.

Pros of ILP
1. Premium holiday -unless you are horrible pay master, this is useful to you. Or if you need to stop paying for some unknown reason, you can take a short break. Also if you forget to pay, your insurance won't lapse unlike standalone.
2. You can move between ranks of your medical insurance easily. If you need to downgrade down the road. Of course if you are already on the lowest rank of the plan, you cannot move down anymore.
contestchris is an ILP holder. Here is what he shared about ILP.



Hope this help.

You are welcome to Pm. I am not an agent hence I am unable to sell you anything.

People here said aia med regular have been discontinued and replaced with medi flex. Not sure how true is that.

For me, I just take the rm200 plan. No need so expensive cause I don't want to give insurance company so much money and I feel RM1.375M of coverage is more than enough for me.

Yes ada. In fact, I do a lot of it.
How big is your group?

Got but need the know the info below.

How many pax?

Age group?

Venue?

Mind giving some examples on the recreational activities?

Another alternative is to consider Life Insurance.

The family can pool their funds together to shoulder the medical bills.
In the worst case, at least those that help foot the medical bills gets their money back.

It's not the best way.
But it's one way to look at it.

You won't be able to project it as the incremental is not a linear climb that is predictable.

However, you can always do your own top up from time to time. This ensure that your policy remains sustainable over the next 40 years.

You better put aside that money else where.

Then wait for policy to lapse as you didn't want to "top-up" and hopefully, you got money to pay for your own hospital fees from "elsewhere". Meanwhile, YOLO while you can.

There is nothing called "useless" when you are utilizing "it" for the benefits.

Is your hard work to pay your Car Loan is useless since Cars typically becomes worthless in the next 10 years due to depreciation?
So, why bother to buy a car?
- No, you use it because you are benefitting from it giving you the convenience of transportation despite the depreciation.

Same goes for the insurance, it gives you the benefit to claim from the insurance company and not coming from your own pocket while you are insured in the event you are required to be hospitalized.

If the above is deemed "useless" to you, then maybe I suggest you cancel your insurance now and do something else with that money.

Yes that's right. I always say that is insurance company way of being polite and tell you I have milked you enough. Now I know you are going to claim and I don't want to pay for your claims. Kindly f**k off. If you want to stay around, pay us more.

If you are like me, hang out with the Singaporeans who write financial blogs, they got lots of ideas in how to plan your insurance journey so it won't be burdensome to you.

He calculated how much insurance he will need for old age, planned and set aside that amount with additional buffer.

Some bloggers who are super rich also tell you that insurance is for you to protect yourself until when you are able to self inure yourself. No need to depend on insurance your whole life. Lots of style.
Normal la. Now only you know. That's why I try to stay away from this section. Super toxic and not very non insurance friendly.

Sure no problem. I got nothing to hide. So just put it here unless someone doesn't like it and report it.
https://investmentmoats.com/
https://singaporeanstocksinvestor.blogspot.com/?m=1

If you want more specific type the follwoing into Google
site:investmentmoats.com insurance
site:singaporeanstocksinvestor.blogspot.com insurance

How to buy these medical card? Finding a reliable agent is hard

It is quite difficult to look for a trustworthy one, are you looking for agents in Malaysia or are you willing to, like Ramjade, consider Singapore agents as well?

I don’t know any one from Malaysia but the one I have in Singapore is someone I trust… although I don’t add to her sales at all. She sold me the health insurance and I willingly bought annuity plans from her as a form of diversification of wealth.

Wow. Posting where I found my agent also got reported?

People here really kiasu.

If 5% seems to huge, the option for RM500 deductible is still there.

Update.

Today, i managed to ditch the old medical plan and replaced it with a better medical coverage of 2mil

Therefore, my insurance budget as an ANB39 has jumped to RM727.88 with the following new line-up :

1.Etiqa Ezy-Secure - Life & TPD 500,000 coverage (RM59.16 monthly)
2.Kurnia PA Supreme Plan 6 - Acci Death & TPD 1,000,000 + 500,000 coverage (RM105.83 monthly)
3.Prudential PruMillion 2.0 Investment-linked plan 200 without booster RM500 Deductible. Medical 2,000,000 annual coverage + unlimited life-time limit(RM210.00 monthly)
4.Etiqa e-CancerCare Takaful - Cancer/CI 300,000 coverage (RM73.33 monthly)
5.Etiqa AafiahCare Takaful - Cancer/CI 200,000 coverage (RM113.50 monthly)
6.EPF i-lindung Etiqa Critical Care Takaful - Cancer/CI 50,000 coverage (RM10.83 monthly)
7.EPF i-lindung Prudential PruCareLife - Cancer/CI 200,000 coverage (RM43.33 monthly)
8.EPF i-lindung Prudential PruBSN Cegah - Cancer/CI 200,000 coverage (RM43.33 monthly)
9.EPF i-lindung FWD eCritical Illness Plan - Cancer/CI 100,000 coverage (RM31.41 monthly)
10.FWD i-Protect Plus Plan A - Cancer/CI 100,000 coverage (RM30.91 monthly)
11.MSIG EZ Cancer Care 365 P50 - Cancer/CI 50,000 coverage (RM6.25 monthly)

Combined coverage:
Life/TPD 500,000 coverage
Acci Life/acci TPD 1,500,000 coverage
Medical 2,000,000 coverage
CI 1,200,000 coverage

Kaotim is offered by syarikat takaful malaysia. It's a licensed takaful operator.

The general perception would be cheap no good, good no cheap. The real and obvious con is there is no agent to help you claim when you need to masuk hospital.

On paper based on my cursory glance, it's just a typical medical plan like any other, with slightly different benefit, etc. So i feel it's a great simple medical plan that covers the necessary at a low cost. And the medical plan is not yearly renewable, so that means it will last however long they allow it which is until 85. Which i think is more than enough.

If you want to be sure, you gotta do your homework and open up the contract wording and compare one by one with probably what you have now.

And like any medical plans, repricing is certain in the future. This uncertainty will exist however it was purchased.

I RECENTLY received a letter from my insurance company stating that my medical insurance premium would increase from RM540 per month to RM2,030 per month.

The reasons cited were the significant increase in the cost of medical treatments and my attaining the age of 65.

When I took out this policy in 2010, the insurance agent did not advise me that I should expect such an increase after I retired. It is ironic that when one stops receiving a salary, the premium would increase by 275%!

I was advised that if I did not agree to the increase, my premium would be buoyed for some months by the investment within the policy. After this, the policy would lapse and I would not have medical insurance anymore.

The customer service representative who attended to me was quite chirpy and blunt when she told me I should have taken out the policy at a much younger age. So, apparently the mistake was mine?

This week, I received an email from another insurance company, advising that the premium for my son will increase by 30% per month. The reason given was medical inflation.

I took out this policy for my son when he was 18 years old. Not young enough? It has only been two years and the insurance company is already making adjustments. What adjustments will be made in the next two years?

At the point when I am a retiree, I am facing a 30% increase for my son and a 275% increase for myself in premium rates.

These levels of increases are unfair. In fact, they are punitive. When we most need medical coverage and when we no longer have a regular stream of income, that is when the insurance company hits us. I wonder what Bank Negara Malaysia is doing to protect the public.

The excuse used by insurance companies is that they are facing significant increases in the value of claims. Yet, when I look at their profit and loss (P&L) accounts, they look very healthy. And I am not surprised. If customers have to face the increases that I have quoted, it is no wonder that the companies’ P&Ls look healthy – maybe too healthy.

I am disheartened that when the insurance agent was selling me the medical policy, no warning was given of premium changes in the very near future. In fact, the agent was applauding the wisdom of buying the policy when my son was young.

I recall asking about premium hikes, and the response was that insurance is a regulated industry and Bank Negara would not allow significant increases.

I now strongly believe that for every new policy sold, the insurance agent must disclose the potential for premium increases and how soon that could happen.

There must also be a sign-off by the customer that he/she has been informed of that clause and accepted it.

I took out my policy when I was younger, working, and when my medical coverage was provided by my employer.

During that period, I did not have to use my own policy, which was for my protection once I retired.

It is ironic that when one might most need medical insurance, the insurance company makes it unaffordable. In fact, it just might be their underlying business plan, drawn up by highly-paid actuaries, to make medical premiums more and more unfeasible as their customers grow older. It certainly makes lucrative sense for the industry.

Surely, Bank Negara as the regulator of insurance companies should be protecting the customers. The situation is already out of control and the government needs to get involved.

TONY PEREIRA

Petaling Jaya
https://www.thestar.com.my/opinion/letters/...surance-premium

yes, my employer medical insurance also can view my kid in app

but a lot insurance agent macam dont want do deductible medical insurance maybe takda comission, thats why asking sifus here any recommendation, i see tokio marine got, just need submit form ourself lol

but from my research, those dont have general insurance usually wont sell you solely extender plan right?

i contacted few prudential, they macam cannot sell PruMed Value with deductible alone
like GE, what i have the no limit life time plan is actually a medical rider + extender plan, most insurance uses their homebrew plans to substitute each other, outcome is annual limit high, no lifetime limit

if not mistaken my GE is 120k annual limit for plan 1, extender 120k for plan 2 (i think is after 120k this plan comes in), 2 plans cooperate together to output kind of high limit and no lifetime limit which i bought 10 years+ ago

i could be wrong because maybe those agent only want help buying expensive plan those <RM500/annum plan they dont want do at all