if premium increase, the package value increase too or not?

no lol, it is a defend

no lol, it is a defend

so what is the point for the increase? need more money to increase the profit so their tops can get/maintain double digit bonuses?

Insurance premium keep increasing yet salary still maintain. Healthcare getting more expensive. Yet government don’t really regulate and control the price. People from private sector suffering while government servants always get tongkat. Gov servants can get free healthcare by using GL and no need to think much about savings for the future. While private sectors need to pay more tax and subsidies-free. Now have to pay high insurance premium because of no choice. If admit to ward or surgeries, need to pay quite expensive even at government hospital.

Government servants get free healthcare when they visit private hospitals? If you say government hospitals, non-government servants go also not expensive

Free at government hospital.

Non-gov servants still need to pay and sometimes can reach thousands at government hospital for surgeries. Not all can afford even at discounted price. If admit to IJN then sure more expensive.

so what is the point for the increase? need more money to increase the profit so their tops can get/maintain double digit bonuses?

Insurance premium keep increasing yet salary still maintain. Healthcare getting more expensive. Yet government don’t really regulate and control the price. People from private sector suffering while government servants always get tongkat. Gov servants can get free healthcare by using GL and no need to think much about savings for the future. While private sectors need to pay more tax and subsidies-free. Now have to pay high insurance premium because of no choice. If admit to ward or surgeries, need to pay quite expensive even at government hospital.

Insurance premium keep increasing yet salary still maintain. Healthcare getting more expensive. Yet government don’t really regulate and control the price. People from private sector suffering while government servants always get tongkat. Gov servants can get free healthcare by using GL and no need to think much about savings for the future. While private sectors need to pay more tax and subsidies-free. Now have to pay high insurance premium because of no choice. If admit to ward or surgeries, need to pay quite expensive even at government hospital.

Medical inflation. You look at how much private hospitals are charging nowadays. They can’t suka-suka increase as they need BNM approval. If BNM approved, they must have good justification.

Give me example of expensive at govt hospital? I got relative admitted due to stroke. When go to the counter they say no need pay anything. My other relative did a heart bypass and go to the counter it was rm 250 for entire ops and stay

It’s only expensive if you are foreigner which is fair because you are not a citizen and don’t deserve citizen perks

So tell me again which govt hospital is expensive

it is a guarantee profit business for them , when inflation or more people claim insurance,  they will increase your premium

I’ve paid thousands before for surgery for my relative.

Which hospitals? Some government hospitals have private wings which cost more but still slightly cheaper than private hospitals.

Putrajaya

Have not receive anything from my agent.

Insurance premium keep increasing yet salary still maintain. Healthcare getting more expensive. Yet government don’t really regulate and control the price. People from private sector suffering while government servants always get tongkat. Gov servants can get free healthcare by using GL and no need to think much about savings for the future. While private sectors need to pay more tax and subsidies-free. Now have to pay high insurance premium because of no choice. If admit to ward or surgeries, need to pay quite expensive even at government hospital.

Insurance premium keep increasing yet salary still maintain. Healthcare getting more expensive. Yet government don’t really regulate and control the price. People from private sector suffering while government servants always get tongkat. Gov servants can get free healthcare by using GL and no need to think much about savings for the future. While private sectors need to pay more tax and subsidies-free. Now have to pay high insurance premium because of no choice. If admit to ward or surgeries, need to pay quite expensive even at government hospital.

Hospital kerajaan Malaysia

Charge you : Rm 5 saje

Private MNC do take group insurance for their few thousand staffs..

This one is follow up at specialist. Not surgery, ward or special equipment.

Some, it can be waive if you are under B40 category..

When you left that company and if you don’t have personal insurance, what will happen if something happened? That time sure not covered and if you want to take personal insurance, premium sure more expensive due to age factor.

Not all are B40. Typical M40 and low-tier T20 where can get tongkat?

B4 you leave any company

Go, attend 10 interviews

Get hired

& then resign..

Get it???

You need to get personal insurance by yourself as a backup even though company already cover you.

You need to get personal insurance by yourself as a backup even though company already cover you.

Great Eastern trying to double my premium to 7k, what to do wor, i disagree and reduce the coverage age for critical illness payout , atleast medical not affected.

i read before this many hospitals dont like this insurance company..hard to claim..they was popular because many insurance agent especially malay promoting their plan..

I’ve paid thousands before for surgery for my relative.

A lot of youngsters don’t think like that because they always think their company cover them but they forgot that most people need insurance when they are older especially after retirement. If you take insurance when you’re older, the premiums are usually a lot more expensive. Some insurance companies will not even do your biz.

Actually I’ve been thinking when everyone say how expensive it is when we subscribe insurance when we are older - how expensive are we looking at?

I’ve been paying the premium since 20 years ago and I’ve never claim any hospitalization before. Only twice but those are covered under company. All those $$ could have been saved and if the premium at older age is more expensive, just wonder how expensive could it be?

They are just telling you
"You are getting riskier and not so profitable to be insured. If you still want the 'protection' you need to continue pay up"

Insurance is a risk calculated business where the insurance company always wins. How else they can publish full colored centerspread page in newspaper of their agents achievements. If at current age, you feel the squeeze to pay, wait till you get older or retired, that is when you realized you already spend a fortune on insurance and they decided not to insure you anymore or increase the premium beyond your capability, in a way forcing you to willingly surrender the policy. Do the calculations and adjust accordingly today.

Have not receive anything from my agent.

wth really

Actually I’ve been thinking when everyone say how expensive it is when we subscribe insurance when we are older - how expensive are we looking at?

I’ve been paying the premium since 20 years ago and I’ve never claim any hospitalization before. Only twice but those are covered under company. All those $$ could have been saved and if the premium at older age is more expensive, just wonder how expensive could it be?

Actually I’ve been thinking when everyone say how expensive it is when we subscribe insurance when we are older - how expensive are we looking at?

I’ve been paying the premium since 20 years ago and I’ve never claim any hospitalization before. Only twice but those are covered under company. All those $$ could have been saved and if the premium at older age is more expensive, just wonder how expensive could it be?

I don't know the numbers but I suspect it's based on a set pay table already. So even if we start earlier or later eventually will pay the same at the same age. Excluding any loading etc.

Just the main thing is as we age, there is a risk of loading, exclusion or rejection die to our health deteriorated.

Actually I’ve been thinking when everyone say how expensive it is when we subscribe insurance when we are older - how expensive are we looking at?

I’ve been paying the premium since 20 years ago and I’ve never claim any hospitalization before. Only twice but those are covered under company. All those $$ could have been saved and if the premium at older age is more expensive, just wonder how expensive could it be?

If you are capable of self-insured, then go ahead and take the risks.

Like you say, insurance is risk calculated biz. Your own life is also a risk calculated. So, it's up to individual to decide themselves.

Fact is even millionaires buy insurance when they can easily self-insured?

I’ve paid thousands before for surgery for my relative.

so what is the point for the increase? need more money to increase the profit so their tops can get/maintain double digit bonuses?

That's why I mentioned if you feel the squeeze today to pay, don't bother to continue because it will only get worst and eventually will give up the policy. Just need to do proper calculation and evaluation.

I am sure a lot millionaire insured themselves because they can afford to.
The ones that are complaining here obviously is hitting their ceiling of affordability.

Like I say before, a lot of millionaires buy insurance too even though they can self insured. Why?

How many percentage of people need to give up their insurance in old age. From my friends and families, I have not encountered anyone who need to give up even after retirement.

If you say paying for insurance is a burden, what makes you think people will be disciplined enough to save and self insured? How many people can do that and are able to calculate risk to self insured enough?

Unless, your plan is to go government hospital when you’re old age, then it’s a different story altogether but be wary that our current cheap government hospital cost are not sustainable. That’s why government are encouraging people especially B40s to buy insurance.

so for example, i've been sub for insurance in the span of 10 years and premium keep increasing lets say 3-4x. At the same time, i never utilize cause health is in good form. It means ayam rugi lor, right?

Have not receive anything from my agent.

- Like I say before, a lot of millionaires buy insurance too even though they can self insured. Why?

It's because they can afford to pay.
Affordability is the issue here.
You might be comfortable with the premium today but if it increases beyond ones expectations, he /she might not be able to afford it.
By looking at the main post, she already started to complain about the increase in the premium of her insurance. Of course she wants to continue to be insured but if it goes too high, do you think she will be able to pay the increments? It all boils down to affordability. People should be given a full picture of how things will be when signing up for insurance. Obviously she did not expect the rise to be so much.

- How many percentage of people need to give up their insurance in old age. From my friends and families, I have not encountered anyone who need to give up even after retirement.
After paying for 23 years, I gave up mine. So now you know one person that gave up their policy. 2 policies actually. I was originally told after paying for 20 years, it would continue to self paid for itself until it eventually matured but after the 20th year, I called up and I was told otherwise, stating the increment of medical bills. I continue to pay diligently until the premium starts to increase exponentially, twice per year. I did a calculation and found out that it will eventually reach beyond what I am willing to pay after I retired and decided to stop it. Since I started the policy, I have paid more than half the insured sum itself by the time I decided to surrender the policy.

- If you say paying for insurance is a burden, what makes you think people will be disciplined enough to save and self insured? How many people can do that and are able to calculate risk to self insured enough?
Of course not a lot is capable and discipline enough to save and self insured. All I am saying is people needs to be given the right information and projection of increment that they are supposed to expect from signing up a policy. You can clearly see from the main post itself, she was not expecting such increments in the premium. Project and show them the entire cost of insurance throughout the tenure and reason with them if they are ok to go through the entire thing. No point if the person is comfortable at the beginning and ended up surrendering the policy half way through because he didn't know it will be up so much. Just give them the full picture at the beginning and adjust accordingly to their affordability level.

not fair at all

ppl misused the medical and we kena

insurance was always a kok trap...

and now the trap is springing up...

got monei, just put it in your investments and savings and you can tap from there if you ever need monei for your medical ...

you think 5k is expensive?.... what about 7k next 3 years...
then 10k next 3 years...

since you've already paid so much for so long... you will feel compelled to continue even with that kind of price...

monei that you've put in, better put into improviing the livestyle and food and stay healthy is much more worth it...

There’s no way insurance companies are able to predict 100% correct what will happen in the future. Their pricing and underwriters can only underwrite a policy based on current conditions and some predictions of what inflation is going to be in the future. However, medical inflation in Malaysia has gone way above what they anticipated and the pandemic makes it worse.

Like I say before, unless you can self insured or plan to only go government hospitals, then go ahead and give up your insurance. There’s no right or wrong here. Most repricing will still give you an option to retain the current premium but then you will have to sacrifice some coverage. At the end of the day, it’s again the problem of our salaries has not increased in tandem with inflation which affects everything and not just insurance. Insurance is worse affected because medical inflation is a lot worse than our inflation rate. That’s why a lot of hospitals have changed their policies as nowadays a lot of minor surgeries don’t require hospitalisation anymore due to pressure from insurance companies.

Fair statement. There is no way the prediction will be 100% accurate. What really ticked me off was the "pay for 20 years then it will pay for itself" which turned out to be unfulfilled coupled with the exponential increment after that and when I was asking for options and alternatives to retain the insurance but without the such high increment in premium, there were no options at all other than surrendering and sign up for a new policy. If only I knew what was I getting into before I signed up and get locked in, I would have done things differently. It's not like a loan for cars which last 5-9 years or house which might go up to 30 years, this one is turned out to be an endless increase forever until the day I die or surrender the policy.

Fair statement. There is no way the prediction will be 100% accurate. What really ticked me off was the "pay for 20 years then it will pay for itself" which turned out to be unfulfilled coupled with the exponential increment after that and when I was asking for options and alternatives to retain the insurance but without the such high increment in premium, there were no options at all other than surrendering and sign up for a new policy. If only I knew what was I getting into before I signed up and get locked in, I would have done things differently. It's not like a loan for cars which last 5-9 years or house which might go up to 30 years, this one is turned out to be an endless increase forever until the day I die or surrender the policy.

Like I say before, it can’t be predicted. You ask any underwriter or actuarial people in 2018 to take into consideration a worldwide pandemic and they will probably laughed at you as it’s probably their 1 in 100 scenarios only such things happened.

What my actuarial friend told me is you need to review your insurance every few years as things change and sometimes what was underwritten 20 years ago are not relevant anymore and you really buta-buta paying for useless things. If really, you see after reviewing that it’s not sustainable in the future, it’s sometimes better to terminate and take up a new policy.

Yup that's why I surrendered mine. 23 years of premium payment down the drain with 0 claim. What was claimed to be best plan for me 20 over years ago is now totally useless.

That’s a wrong mentality when it comes to insurance. A lot of people think like you and say all the money can be better spent as I never claimed a single sen. However, do you really want to claim? Without claiming a single sen is actually a good thing. Insurance is about protecting you from potential risk. It’s really about what if scenario only and you cannot really say it’s useless as it provided you coverage for 23 years.

Yup it's good to be protected and I wanted to continue the policy but that wasn't an option because I was priced out of what I am willing to pay for it. That was what happened to me.

That’s a wrong mentality when it comes to insurance. A lot of people think like you and say all the money can be better spent as I never claimed a single sen. However, do you really want to claim? Without claiming a single sen is actually a good thing. Insurance is about protecting you from potential risk. It’s really about what if scenario only and you cannot really say it’s useless as it provided you coverage for 23 years.

A lot of ppl think like this, but hindsight is 20/20. If its the other way around eg: they got admitted, etc.. they would be thinking, thank goodness I bought insurance

Even for a simple dengue case, if u admitted to private hospital can cost 5 figures already.

If cancer the cost teruk. My friend only 34 years old got breast cancer, need to go surgery and chemo, imagine u 34 how much saving u have to treat cancer?

A lot of ppl think like this, but hindsight is 20/20. If its the other way around eg: they got admitted, etc.. they would be thinking, thank goodness I bought insurance

Even for a simple dengue case, if u admitted to private hospital can cost 5 figures already.

If cancer the cost teruk. My friend only 34 years old got breast cancer, need to go surgery and chemo, imagine u 34 how much saving u have to treat cancer?

Exactly. You don’t need to claim your insurance is actually a blessing and should be happy about it instead of thinking it’s a waste of money.

Yes it's good. That's why I bought it in the first place and stick to it for 23 years. But the premium eventually increased beyond what I expect it to, that's why I stop and have to surrender the policy.
If the price is maintain or with a 5-10 increment each time, it would have been fine but no,  it's way more than that. If it happens before, what is the percentage of increment will I be charged in the future? That's what bugged me
and figure out at one point I will just have to give it up prematurely, so I minus well just give it up now.

Why didn't downgrade to copay or coinsurance kind of medical card? The savings like quite substantial leh.

There were no downgrade options given to me from my policy, basically asking me to continue pay or surrender the policy. Unlike car insurance which comes with NCB discount, this one tobalik.

Medical insurance right? Confirm no co-payment type ?

like this, i won't be looking at renewing.

this will be 1st and last year taking medical-related insurance.

So you’re going to self insured or go government hospital?

i never believe in buying insurance.
the whole premise is rotten. other then denying outright fraud, there shouldn't be condition at all. either cover any outcome or don't sell at all.
to me, the industry exists simply to fatten the players.

i already told my wife long before; if aedical emergency happens and it requires a load some of own money, just let me die, don't waste money that otherwise can be spent on the children's future and hers.

What happened if it’s your wife or children who need medical?