After AIA merge with ING into single license company, we are having a very good medical card plan now. Before we go any further yet, I would like to share with people that AIA is no longer hold by the US, they gone through similar experience with ING and is hold by HK now. Hence, 'new' AIA

We have a standalone Medical Card, and also an ILP Medical Card with ILP one having much better benefits:

A-Plus Med 150

Room and board                                                    150
Additional Room and board (oversea)                      150
Everything as charged
Home Nursing Care (180 days/confinement)            3000
Daily Guardian (120 days/year)                              90

Annual Limit 100,000 (increase 5% every 2 years for 20 years if no claim or claim less than 5000)

No Lifetime limit
No Co-insurance

Outpatient Kidney Dialysis and Cancer Treatment    250,000 per lifetime (bear in mind this is outside of the annual limit)

Emergency Medical Evacuation and Repatriation      USD 1 mil

**Medical card can be swiped at panel hospital, no need to wait for the company's guarantee letter and allowed for quick admission.
**Cover for Singapore and Brunei but base on the medical cost of Malaysia.

Cost - Male @ age 20 : 480.00
                @ age 30 : 446.50
                @ age 50 : 1010.50

Enquiry about AIA medical card:
I looked at the premium table and noticed that the premium will increase as we grow elder. It will reach about 7/8k per annum when we reach 60++ y/o.

Does it mean if we stop paying let say when I aged 60, then my policy will be deemed expired/surrender?

Standalone plan. Just medical card coverage only.

Hi roystevenung,

Understood the 5 years age group increase is illustrated in the sales illustration/policy, but is it frequent for adhoc medical fee increase? Let say at year 2/year 3, a letter stated increase 9% of annual premium was received. 

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.

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.

Hi Roy,

It's M*n*l*f*, and the policy was bought in 2011 (In 3 year (2014) the medical charges increase).
So from experienced agent here, increase in Term insurance medical charges cannot be avoid. 

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.

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.

Brudder, those that looks as though they dont charge arm/leg for >64 is due to suckers.. oops ConnedSumers buying into their marketing lar.

They squeeze more $ from U at the beginning and tell U "constant premium mar until 90"
At the back, what they dont show U is your "investments" all being eaten up when U hit >64, thus at some point, no cash value already AND further than that.. good luck, top up

Which company have low COI for age 65-80?