If i remember correctly it is quite cheap. I think less than RM20.

Creating Awareness & Warnings you should Not Ignore when buying a Medical insurance plan in Malaysia!

Do you know that nearly 90% of Malaysians are clueless on the types of policies they have bought over the years. They have been paying for the policies with assumption that it will pay them in full no matter what their claims are without understanding the underlying limitations! And most of them not even know what are they paying for. Common reason of Malaysian buying policies is mainly because the agent is their friends, family etc. and some even bought the policy based on the branding and marketing "claims" that it's the No.1 insurance company in Malaysia. Please be noted that branding of the insurance company won't help you at all! What matters the most is in your policy documents! Most people won't even bother to read the term and condition clearly but just blindly listen to the agent! Different medical plans in Malaysia have different limitation! There's no such thing as all medical insurance are the same!!

If you already have policies, please get them reviewed and I promise you will get the shock of your life!!! Make a choice to understand the limitations of your policies before its too late! Don't just sit and get quotation thru email for comparison in premium cost and investment return but sit down with financial advisor who can help you and assist you in choosing the best medical plan based on your needs, budget and how to avoid costly mistakes. The most crucial aspect of claiming is what documented in your policy document, you need to understand the fine prints, black and white! You need to know how to avoid and save yourself from burning ship before its too late! Because health changes overnight!!!

An experienced agent would have done many hospitalisation claims for his/her clients over the years. Through the experience, one can tell what it gonna work for you & what can be the biggest financial cost of your life!!

If you have a choice to choose:

1. Which one is the smarter choice?

A) Company A pays 90% of your Medical Bills-10% Co Insurance paid by policy holder

B) Company B pays 100% of your Medical Bills fully

2) are you aware of the difference between Inpatient Hospitalization & Outpatient Treatment in your policy? Why is it separated in your Medical Schedule of Benefits?

3) What are the limitations in your policy Vs the Actual Cost of Medical treatment currently?

Actuaries are highly trained individuals with such intelligence to determine the risk factor before getting a plan approved by Bank Negara.
Do not just take what is verbally spoken about by agents, but look at the fine prints black&white, and the Cost of Insurance chart in the policy documents- understand the pros and cons to help you make an decision wisely!!


**Please take note- this is mainly to create awareness for policy holders in Malaysia to be wise in making plan and decision before its too late!!

Do contact me if u need in depth understanding and helping you in making decision before purchasing a medical policy. No obligation at all!

You'll be amazed!



Thank you!

Jas J
Senior Insurance Consultant
12 years of Professional Experience in Insurance Industry
012-2231841

I agree with this very much. Medical card is not ATM card nor credit card. Nobody can use medical card to pay off their housing loans and car loans when they lose the ability to work hence no more income to pay off those loans.

Imagine a person suffers kidney failure. Yes, his medical card will pay for his kidney washing expenses in hospital, but because he lost the ability to work due to his kidney failure hence he has no income to pay for his outstanding car loans. If he has 36 CI protection, he can get the lump sum compensation thereby paying off all outstanding loans without giving troubles to his wife and his children.

Hence for thorough and comprehensive health/medical insurance, 36CI + medical card is recommended. And these plans are not expensive.

Medical card is very important, no many M'sia understand..
Good sharing..

+1

Exactly. All ILP premium will first go to the cost of the basic plan and rider(s), then the remaining money will be used to invest in whatever funds that you have chosen. The result of the investment then becomes Cash Value or Surrender Value.

ManuLife good or not???

In terms of product? Pricing? to answer this maybe you can get a Manulife quote then we can help you to analyse.

In terms of product i reckon they are mostly the same. But pricing i.e. insurance charges could differ. If the insurance charges is high then you are not getting much cash value.

Any Manulife agents here who can help BlackPen?

my gf ask me to buy manulife because she bought manulife...I have no idea...i seeking some idea

Laughing Gor's GF buy manulife? then i believe she has the Manulife agent contact.

ya lor..before contact him/her..better know the product 1st or else keep ask me buy

May you choice the best.

It does matter which company,
there is no BEST insurance policies,

only the Best Service!
Insurance is not about companies, is about the people who will serve you.
Buy according to you needs and not because how good the plan is!

Best Company provide Best Return.

Would you agreed?



One of the sample of "best" service.

http://forum.lowyat.net/topic/2547791

This post has been edited by great.eastern: Feb 5 2013, 11:20 PM

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

THanks

Great Eastern.

10% discount (detail kindly refer to your inbox)

Full Time (24 - 7)

Thank You

I am Joseph from Great Eastern. Full time agent in KL/Klang Valley.

Pursued diploma in Mechanical Engineering in Inti College for 2 years, then obtained scholarship (Golden Jubilee Scholarshp offered by UNSW) to further my degree studies in the University of New South Wales (UNSW) in Sydney Australia for 2 years. Graduated with First Class Honours Degree.

Been working as an Engineer in Samsung before becoming an insurance agent.

Speaking as a layman. Insurance is a headache to understand. Until today I tried to understand it by reading the insurance T&C, reading agents comment and discussions, etc etc ..... and still I don't understand it.

All insurance agent will criticize each other plans, stab each other at the back, request to meet you, read ur current policy, sweet talk you with this and that (normally the younger ones) OR try to be a realist (normally the more experience one) and say things like "of cuz each thing has bad n good"... bla bla just like what i am reading right now but yet still I come out as confused and have no idea what the f they talking about.

So don't blame me as end users if we don't understand what you "expert" are talking. Coz non of you can give a straight answer. One say ILP is bad, one say GI is good. Then end up everyone agree got good n bad. At the end of the day, we have no idea what you guys are talking. What is bad about it, what is good about it.... coz its all vague.

Please explain to us user how is it bad, how is it good. Give us examples to proof your statement. Give us a case scenario where its good and where its bad.

Coz personally at the end of the day, I end up buying one with an insurance broker who I somewhat trust. Call me an idiot or what but I feel like after habis talk everything, insurance just seems to be one messy subject full of hidden things behind those thick contract.

This post has been edited by WhitE LighteR: Feb 7 2013, 04:35 PM

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.

————————————————————————————————————————————————————————————————————

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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This post has been edited by this_is_it: Apr 1 2013, 12:03 AM

Can you list out all the insurance medical card comparison based on your research ?