Wait, GE medicard got problem with cashless hospital admission? Then what's the point of having a medicard?

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Increase Initial Hospital Room & Board.
Increase Initial Overall Annual Limit.
Higher Overall Lifetime Limit.
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Please quote for me,Male,32year old,occupation class 3.No hospital record.Non smoker.

From experience, most ppl insured through the famous company i.e. GE, AIA, ING, PRU, HLA, Allianz, Manulife, etc

Reason being : our friends/relatives are these companies' agent.
After we save the agent's number, normally we will just put the policy aside.

Years later, some agent come after us and say it's better to do a review. FOC, why not?
And the common feedback, the plan or medical card outdated/ not really good, better do something on it..

So, what you gonna do? Sometime can be tough decision as you know medical protection is really important.
Esp your existing agent no longer in this line, or the new agent seems very trustworthy or very pro, whatsoever

Sounds familiar huh?

Well, the main intention of this post is to guide you on how to analyse the medical card, by yourself.
Hope it helps, more or less... :-)

The comparison shall include (Priority from Top)
1) Limit for Outpatient Cancer Treatment / Kidney Dialysis 
2) Annual Limit
3) Life Time Limit
4) Term of Coverage                                                                 
5) Co Insurance                         
6) Surcharge if exceed room and board 
7) Cost of Insurance
In next post i will explain the reason for above sequence.

The scope of coverage is actually very wide, so i just focus on what's really carry weight
Perhaps you may suggest some if you think that is also important for medical protection.

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I don't want to go too deep for this part, just surface information which should be enough for us to analyse the H&S plan by ourselves.

1) Limit for Outpatient Cancer Treatment / Kidney Dialysis
You have to fork out the money from your pocket for above treatment once it reaches the claim limit.
Needless to say, those H&S plan which set limit for above treatment are not recommended.

2) Annual Limit    **
The insurer has tried their very best to enhance the product in this competitive market. Guess what, there are some H&S plan in this market comes with no annual limit, subject to T&C. With this enhancement, all other medical cards w/o this feature are basically obsolete

3) Life Time Limit
At least 500k/ 1mil (pretty subjective) , to ensure the medical expenses is adequate, esp for long term disease.       

4) Term of Coverage
At least 80 years old. Certain plan cover up to 70 years old only, so who's gonna pay for the medical bill if a claim made after 70 years old ?

5) Co Insurance       
Some insurer impose 10% co insurance with minimum charge & maximum capping (normally inpatient), whichever is lower  OR  without maximum capping (normally outpatient),
           
6) Surcharge if exceed room and board
Some insurer impose 20% co-payment with maximum capping, whichever is lower

7) Cost of Insurance
The cost of the medical card, that can be vary much  esp age catching up although the coverage is about the same. Considerate medical protection is one of the essential role for retirement planning, thus it's important to make sure the cost is not too high.
In next post we shall narrow the topic to the medical plan of each insurer

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is the time for me to renew my medical card,but my agent not so active in his insurance field d...
may i know which medical card is better?any suggestion?

Have been too busy lately, my apologize of not unable to update the insurers' medical plan detail at the meantime.
Perhaps this round i just give the detail of Allianz latest medical plan (rider)

It seems like Allianz and Pru is the only insurer which offer medical card with no annual limit (subject to T&C). Comparatively, PruHealth still impose co-insurance and the cost can be very high esp for long term disease. In view of that, Allianz sounds better.

Such revision has finally solved the fundamental problem of medical plan where the insured sometime need to fork out bunch of cash if the total claim within the policy year exceed the limit. Besides, no co-insurance imposed and no capping for outpatient cancer treatment/ kidney dialysis, cost of insurance is highly tolerable too, renewal up to 90 years old. Perhaps the only imperfect is they imposed co-payment for exceed room and board (20% or max RM1000)

Looking for Insurance. Agents pls PM me ur basic details & qualification. Prefer full time agent in KL area.

THanks

Dear agent,

May I know eithe4 doing MRI can claim from medical card or not?

Dear agent,

May I know eithe4 doing MRI can claim from medical card or not?

what is the diagnosis? any treatment?
If just normal screening, without diagnosis, usually cant as stated in the policy..

It depends on the MRI results. Should the report found something and need to perform any surgery then yes its claimable.

If nothing is found then sorry ( but I suppose this is good news?)

As I understand,  medical card will be shown at the beginning of the process. Mean, hospital will call the proposer for GL application. After GL approve, shouldn't the proposer pay the bill. If the GL  is not approve, then its different story.

Even if the GL was being issued there is a possibility of it being revoked depending on the outcome of the diagnosis, unless it is a very clear cut case like accident.

Since its depend on the outcome of the diagnosis, I will try to press my luck.

Hopefully, result of MRI is okay and proposer still pay for it.

First Question:

Example:
for rm300/month (rm3600/year)

- Life/TPD/CI (Accelerated basic sum assured - either one) : RM150k
- Medical Card
- waiver of premium upon CI/TPD : RM3600/year

Scenario:

When CI strikes, and I make full accelerated claim of 150k from basic sum assured, then Life/TPD/CI will become zero. With waiver of premium rider, medical card will become free until the rest of my life isn't?

An agent told me that I do not need to add waiver of premium rider if I choose accelerated basic sum assured because when I make full claim, then the basic sum assured will become zero, so the waiver of premium rider is something useless which we are paying for nothing. Is this true?

My own understanding is that, once basic sum assured becomes zero, there will no longer be insurance charges for Life/TPD/CI but there will still be insurance charges for medical card. So in the the event we make full acclerated claim from basic sum due to Critical illness and basic sum assured becomes zero, the medical card will only be free for life IF we chose to add waiver of premium rider, otherwise we still have to pay for the medical card, correct? So the agent is wrong?

But, the rider is paying RM3600/year which is the charges for everything (Life/TPD/CI/Medical Card and Waiver). One altenative is to chose the waiver rider so that it pays only for the medical card charges portion. Another alternative is to let it pay the full amount RM3600/year and any additional amount will be used to purchase units in the investment and increase cash value. Am I correct?
Second Question:

Is it ok to take up a plan with projection of cash value that can cover insurance charges up to a age of only, say, 63 years old? The monthly premium for such a plan gives more coverage for less money. 63 years old is still a long way to go. Say, 20 years later, when we are more financially stable, can we then increase the monthly premium, so that the cash value can cover insurance charges longer beyond 70 years old?