I would personally think that unlimited annual limit might sounds nice, but is it worth it? How many surgery that in Malaysia will cost more than RM200k annually?

With the insurance charges, it's depends on the individual to think about it. How if a plan that will provide 10% increase of annual limit every 3 years? At least it could hedge the future inflation risk and it won't burn a whole lot of your pocket for the unwanted privilege.

Most of the life insurance company's medical card is guaranteed renewable, only those general insurance will be conditional renewable. So do not worry if you have bought your medical card from Allianz, AIA, Prudential or Great Eastern.

Page 11 of 14 in Smart Medic stated

Renewability Privilege
This Annexure is renewable at Your option on each Policy Anniversary provided that at the time of renewal, this Annexure has not been terminated in accordance with the provisions under Clause 7 below.

Yes, reprint policy need the policyholder to sumpah in order to get a copy of the document.

Yes, as per my post previously, you need to bring along the statutory declaration form to sumpah just like that_is_it said.

Latest upgrade has limiting your co-insurance to 20% with RM3,000 limit for Smart Medic 150. This takes effect for all policy that inforce before or after the announcement which just made about March this year.

RM150 R&B should be enough for sharing basis in Tong Shan hospital. However, if you would like to hedge inflation, you may upgrade your R&B to SM200 with Smart Medic Enhancer, the insurance charges is not that high compare to other plan.

As far as I know you are age 30-- right?
For your age, RM200/month should be sufficient with SM200+SME200+ 100k of sum assured +100k critical illness +100k early payout + waiver.

Ask your agent to quote you, unless you want to change agent then you can pm me.

Better cash value figure, it's nothing wrong or right.

What I told you is the minimum figure in the illustration software to work. I guess you are sound and you knew how ILP works bro, it's always better to keep some buffer of cash value to avoid lapse

Your age, to get Sum Assured+Critical Illness+SEPCC 150k with SM200+SME + waiver, possible you need about 250/month(non-official illustration, just use my brain to agak agak only)

Oic, if that's the case, maybe the calculation is a little bit different from my previous projection due to different plan base(different insurance charges).

Increase Sum assured in AddVantage Plus will impose more insurance charges, the latest Smart Protect Essential's 1% increase in Insurance Charges won't impose in your insurance charges. Well, different plan different advantage.

The advantage of getting SME is actually to make a person able to "upgrade" his medical card even when he is not healthy.

I'm trying to say that IF you can foreseen your health condition maintains then you can maintain your medical card 150.

Because once diagnose with something, there is no turning back, you have to stick with your medical card for life.

Once turn black, you can't turn back.

This post has been edited by ExpZero: Sep 7 2013, 06:44 PM

There are three doctors in Great Eastern, Dr.Neoh, Dr. Anne and another I forgot They are qualified doctors specialize in different field to give advise on Health Care Services risk and underwriting risk.

Source: I was one of the staff dealing with them.

Just tell them the reason politely, most of the insurance agent will understand.

I'd recommend you to continue with your AIA policy in view of waiting period and premium allocation.


It's always better to have >200 room&board in Klang Valley, since most of the single beded in Klang Valley are over R&B200.

Source: http://gleneagleskl.com.my/services-facili...s-and-services/

Btw, you are not alone, I'm also GE Takaful policyholder

Standalone medical card is priced such that it will increase price every 5 years gap in most companies. However, the company reserved the right to increase the price due to high experience of claim with pre-approval from Bank Negara Malaysia.

Last I recall Great Eastern increases price.....
uhm...I don't recall GE increases price for the past 105 years, correct me if I'm wrong.

This post has been edited by ExpZero: Dec 2 2013, 03:35 PM

Yes you are right, all the COI or standalone medical card premium is increasing 5 years gap. But now we are talking about increasing of premium that not according to the planned premium schedule or COI schedule in ILP.

Insurance company will never guarantee for the COI to follow exactly the premium schedule.

The COI schedule are perfectly not forecast based on existing economy and inflation, unless you are talking about the cash value been bought into unit, which is not in our discussion today.

COI and standalone premium are forecast based on the mortality and morbidity rate. The increasing of COI/standalone premium are because of excessive claims experience from the pool fund. Usually medical card with co-insurance do not have such issue due to morale hazard.

Bank Negara Malaysia will approve the increasing COI if the company are facing deficit of pool fund. BNM wound't let insurance company shut down due to that reason.

Some companies know this fact, they lowering down the forecast claim and thus they can sell product at cheaper rate. Upon claim experience is higher than they forecast after several years, they will send love letter to client to increase the premium. Which is our discussion today why certain company never increase the COI but certain company increase the COI as high as 50% just a few years bought the policy? It must be something wrong with the claim experience or projection of the COI based on the mortality and morbidity "in purpose" to grab market share.

However, I do agree that some cases are genuine where the expected claim experience is slightly higher than the real claim experience.

Which company have low COI for age 65-80?

If you have choosen the coverage until 70 years old, as long as you need the coverage, you are obligated to pay for the premium. However, for investment link medical card, as long as the cash value is enough to sustain the insurance charges, your policy and medical card will still inforce even you might not paying it for years.

If your policy is standalone medical card, if you don't make any claim until you are 70, and then your insurance(I assume you mean medical card) is expired. You will get nothing back as standalone medical card do not have any cash value. If your policy is investment link, you may choose to surrender the policy and take back your cash value or you may continue the policy and enjoy the life coverage.

Medical card covers both accidental and illness medical bill, inpatient. For outpatient, it's different between companies.

Great Eastern just launched a new medical card without co-insurance. You may ask your agent to change your medical card.

In order to understand about this issue, I will briefly talk about the mechanism of Investment link product(ILP).

ILP is designed in such a way that the premium you paid(a portion of it for the first 6 years) will be used to purchase fund unit and then the accumulated fund unit will be used to pay for your insurance charges.

What is insurance charges?
Every of the rider you added in will incur a charges. Cost of insurance (COI) aka Insurance charges will increase over the time according to the mortality and morbidity table.

The accumulated of the fund unit after deducted the COI, the left over will be your "cash value" aka saving.

The reason you may upgrade your protection without upgrade your premium is because your "cash value" have enough fund to sustain your policy without increasing the premium. The "cost of increasing benefit" is absorb from your cash value instead from your additional premium.

Please take note that since COI is increasing over time, without proper planning, the fund might be depleted and might need to top up at later year.

Well, I'd advise you to look into the new medical card feature as the insurance charges is affordable and the benefit is great, with over a million annual limit and unlimited lifetime limit.

For age 60 years old, male, class 1, non smoker, the annual COI only additional RM442. It's great value for money if you don't plan to upgrade your medical card for the next 30 years.


This post has been edited by ExpZero: Jul 16 2014, 05:36 PM