Aug 29 2024, 02:58 PM
QUOTE(kitkat21 @ Aug 28 2024, 04:55 PM)
Have a Allianz med plan, an investment-linked one.
The recent repricing almost doubled the annual premium....and asking for new premium of almost 10K.
That amt is beyond my ability to pay.......
so i'm wondering what to do next........if i stick with the same plan at the old price, the policy would sustain for around 10+ more years before it runs dry....this seems to be more palatable. and hopefully i will be dead then....or if still healthy (such a rare situation these days)...depend on govt hospitals after that.
Gathercare looks good but i'm beyond 40.
I'm in the same boat as you. Having an Allianz med plan + investment link + Life + CI + early CI. The current monthly premium can only sustain the plan for the next 9 years, and this number may shrink further I think if the medical cost continue to go up.The recent repricing almost doubled the annual premium....and asking for new premium of almost 10K.
That amt is beyond my ability to pay.......
so i'm wondering what to do next........if i stick with the same plan at the old price, the policy would sustain for around 10+ more years before it runs dry....this seems to be more palatable. and hopefully i will be dead then....or if still healthy (such a rare situation these days)...depend on govt hospitals after that.
Gathercare looks good but i'm beyond 40.
What I'm thinking is to reduce the Life + CI + early CI part.
1. Life, reduce to minimum. I don't really need life insurance actually but I was told that reduce the life coverage doesn't make any much difference. I have other life insurance.
2. Remove the early CI. I know this is important but I would prefer to have longer coverage on medical instead of early CI.
3. Thinking to reduce the medical from 1mil to maybe lower amount like 750k.
4. Keep the CI coverage - RM100k or lower than RM50k.
Hopefully with the reduction above, that the medical plan can sustain for another 15-20 years.
Any advice from Sifu-sifu sekalian would be much appreciated.
Thank you.
This post has been edited by Sitting Duck: Aug 29 2024, 02:59 PM
Quote
0.0247sec
0.42
7 queries
GZIP Disabled