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> Medical Insurance for the elderly, PRUsenior Med, any alternative?

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kathleen89
post May 16 2013, 02:08 PM

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QUOTE(Queen Vic @ May 14 2013, 03:55 PM)
i look at Allianz website, they mention the insurance coverage up til age 70 only? An error or I'm looking at the wrong one?

https://www.allianz.com.my/web/ctb/10098/10014
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https://www.allianz.com.my/web//ctb/10328/10011
You should look at this - Powerlink. nod.gif
Colaboy
post May 16 2013, 05:11 PM

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QUOTE(Swettiejenn90 @ May 16 2013, 01:23 PM)
Normally I buy insurance , I look for service! Bcos I think most of product same. Agak agak sama!
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rclxms.gif rclxms.gif rclxms.gif

QUOTE(ngbakkim @ Apr 24 2013, 03:03 AM)
dear roy & amanda

allianz agent here,
currently allianz had provided the powerlink medical package that can coverage till 91 year old and max entry age for this package is 70 years old.

so roy show the link is independent product which i not so encourage.

if those interest may pm me.
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pls understand others product before you comment "not so encourage" & give some points here - WHY?
from my understanding it's 1 of the best product in the market for elderly medical insurance, depending on
individual needs & suitability thumbup.gif thumbup.gif thumbup.gif

This post has been edited by Colaboy: May 16 2013, 05:13 PM
bklong
post Sep 8 2014, 02:15 PM

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QUOTE(Colaboy @ May 16 2013, 05:11 PM)
rclxms.gif  rclxms.gif  rclxms.gif
pls understand others product before you comment "not so encourage" & give some points here - WHY?
from my understanding it's 1 of the best product in the market for elderly medical insurance, depending on
individual needs & suitability  thumbup.gif  thumbup.gif  thumbup.gif
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From your post does this mean that Allianz is considered as one of the "others". I am 63 years old and is looking for an stand alone medical plan. Allianz seems to be a good choice.
JIUHWEI
post Sep 8 2014, 04:12 PM

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It is important for us to do our insurance planning at a younger age, not wait till when we're old then look for some kind of "medical insurance for old age".

If we can think of it, countless others who has been working in the industry has thought about it and have been designing the products for the regional demand.

As a guide, look for a medical insurance that
1. covers till 100 years old
2. High annual limits
3. High lifetime limits, preferably those with no lifetime limits
4. Comes with a medical card

If your company is covered under AIA (if you have received an AIA Medical Card from your company) you can consider the A-Health Maximizer as well, on top of your existing medical insurance limits.

Note: Your personal insurance does not need to be purchased with AIA in order to buy the AHM.
adele123
post Sep 8 2014, 06:09 PM

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QUOTE(bklong @ Sep 8 2014, 02:15 PM)
From your post does this mean that Allianz is considered as one of the "others".  I am 63 years old and is looking for an stand alone medical plan.  Allianz seems to be a good choice.
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Hi... Just to provide more info... Given your age and your requirement (you only want standalone), so choices are limited to general insurance company or those composite insurers. Aia is one of the composite.

If you are looking at benefits, most of them offer pretty much the same benefit in slightly differring amount. The difference is more on price, service and choice of hospital. If there's a preference of hospital.

Allianz has one of the cheapest premium. But their limits not among the highest. So pros and cons...

And buying standalone has a problem which is that they usually cover up to about age 80. The exception being aia. But the premium then(after age 80) will be so high...that i dont even know if one is willing to pay.
JIUHWEI
post Sep 8 2014, 06:32 PM

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AIA Standalone Med

Entry age: 14 days to 70 Years old.
Coverage limit: up to 100 Years old.

Annual Limit:
Plan 150: 100k, zero co-insurance
Plan 200: 125k, zero co-insurance
Plan 250: 150k, zero co-insurance

Overall Lifetime Limit:
Plan 150: No limit
Plan 200: No limit
Plan 250: No limit

Premiums: Standard Male
Age l Plan 150 l Plan 200 l Plan 250 l
50 l 1,399.50 l 1,749.00 l 2,271.00
51 l 1,699.50 l 1,818.00 l 2,271.00
52 l 1,699.50 l 1,818.00 l 2,271.00
...Same
...Same

55 l 1,738.00 l 2,258.00 l 2,923.00
56 l 2,259.00 l 2,460.00 l 2,923.00
...Same
...Same
...Same
61 l 3,900.00 l 4,186.00 l 5,140.00
...Same
...Same
...Same
66 l 5,460.00 l 5,860.50 l 7,196.00 <------- Here is where the premiums increase every year
67 l 6,552.00 l 6,413.00 l 7,726.00
68 l 6,650.00 l 6,966.00 l 8,256.00
69 l 6,800.00 l 7,518.50 l 8,785.50
70 l 7,195.00 l 8,071.50 l 10,375.50
...Increasing
...Every
...Year

80 l 11,206.50 l 13,290.00 l 17,487.50
...Increasing
...Every
...Year

90 l 16,257.00 l 19,592.00 l 24,950.00
...Increasing
...Every
...Year

99 l 21,007.50 l 25,512.00 l 31,967.50
oneeleven
post Sep 8 2014, 07:03 PM

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How does the above work? The figure is annual cost, every year different, right? Approaching age 100 then paying thousands per month?

Say, age 70 expect to live til 80, what is the cost vs hosp exp vs kicking the bucket?
adele123
post Sep 8 2014, 07:41 PM

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QUOTE(oneeleven @ Sep 8 2014, 07:03 PM)
How does the above work? The figure is annual cost, every year different, right? Approaching age 100 then paying thousands per month?

Say, age 70 expect to live til 80, what is the cost vs hosp exp vs kicking the bucket?
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normal medical card lo. the annual premium is usually banded (increase every few years) but this can vary among different companies but as one gets older, the premium changes every year.

actually by the time, after 80, premium will be crazily high.
conqu3ror
post Sep 8 2014, 09:11 PM

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QUOTE(oneeleven @ Sep 8 2014, 07:03 PM)
How does the above work? The figure is annual cost, every year different, right? Approaching age 100 then paying thousands per month?

Say, age 70 expect to live til 80, what is the cost vs hosp exp vs kicking the bucket?
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Bro, the annual premium increase due to health risk and yes it really expensive when come to golden age. Especially the medical cost are keep increasing these days.

Sorry that, you are asking the question like chances the person will die or get cancer, heart disease, kidney failure.
If a person think 100% he/she will never get sick & pass away without going hospital. Certainly he/she do not need a medical insurance.
If my friend which planned wedding next week know MH370 will be missing on 8th March, he won't be in the MH370 passenger list. sad.gif

The best time to get insurance is:-

When you know you gonna get cancer at age 50, get medical insurance at age 49

When you know you gonna get cancer at age 40, get medical insurance at age 39
(P/S: Just example, complicate disease will need longer then 1 year in order to claim)

Understand many people will not like this statement and will argue. Sadly this is the ugly truth and many people only realise when it is too late.

This post has been edited by conqu3ror: Sep 8 2014, 09:12 PM
oneeleven
post Sep 8 2014, 09:50 PM

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Check my thinking. 70-80 about Rm100,000 insurance. If I have that sum saved already at 70 and keep in FD, would I be OK?
cherroy
post Sep 8 2014, 10:05 PM

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QUOTE(oneeleven @ Sep 8 2014, 09:50 PM)
Check my thinking. 70-80 about Rm100,000 insurance. If I have that sum saved already at 70 and keep in FD, would I be OK?
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100K in the bank is better than 100K medical insurance claimable limited.

Personally I do not see a point getting medical insurance at the age of 70~80, when the premium is extra-ordinary high.

It is near the end of the life, if no money to nurse the sickness, a slight early pass away without treatment may be a bless as well.



conqu3ror
post Sep 8 2014, 11:13 PM

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QUOTE(oneeleven @ Sep 8 2014, 09:50 PM)
Check my thinking. 70-80 about Rm100,000 insurance. If I have that sum saved already at 70 and keep in FD, would I be OK?
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Of cause everyone have their own preference.

Honestly, for a 60-70 old millionaire, will he forgo the medical treatment and die if he afford the medical insurance/medical cost.
The more he rich, the more he wouldn't want to die.

Whether take up medical insurance is his own choice lah. But please do not forget, at age 60, it will be a challenge to get thru the medical assessment. Some 40's people, medical insurance also been reject.

This post has been edited by conqu3ror: Sep 8 2014, 11:16 PM
adele123
post Sep 8 2014, 11:22 PM

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actually when i did a comparison, really thought AXA's rate for 70-80 seems very reasonable, given the circumstances. then again, they might change it anyway. well, maybe up to 75 still sort of OK to fork out for insurance, after that... judgement call.

typo

This post has been edited by adele123: Sep 8 2014, 11:38 PM
oneeleven
post Sep 9 2014, 12:11 AM

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@Conq " at age 60, it will be a challenge to get thru the medical assessment. Some 40's people, medical insurance also been reject."

Again how does this work, getting in with good health at 59 and paying monthly for umpteen years makes you eligible to pay RM25,000 at age 90?
My maths too slow to calculate total, never mind the compound interest.

BTW, I have no financial interest any of these businesses, not even family or friends.
cherroy
post Sep 9 2014, 09:51 AM

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QUOTE(oneeleven @ Sep 9 2014, 12:11 AM)
@Conq " at age 60, it will be a challenge to get thru the medical assessment. Some 40's people, medical insurance also been reject."

Again how does this work, getting in with good health at 59 and paying monthly for umpteen years makes you eligible to pay RM25,000 at age 90?
My maths too slow to calculate total, never mind the compound interest.

BTW, I have no financial interest any of these businesses, not even family or friends.
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Medical insurance premium is never guaranteed to be fixed thoughout, it is subjected to change over the time.
conqu3ror
post Sep 9 2014, 11:48 AM

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QUOTE(oneeleven @ Sep 9 2014, 12:11 AM)
@Conq " at age 60, it will be a challenge to get thru the medical assessment. Some 40's people, medical insurance also been reject."

Again how does this work, getting in with good health at 59 and paying monthly for umpteen years makes you eligible to pay RM25,000 at age 90?
My maths too slow to calculate total, never mind the compound interest.

BTW, I have no financial interest any of these businesses, not even family or friends.
*
Anyway, medical insurance is not about investment & return. Although you will get RM1mil medical cover with fraction of cost said RM1k p.a. = 0.1% (depends on age, occupation & plan)

Insurance is about protection, and for long term. Some people may think insurance just cheat people & making huge profit. But try think of the time when a person need 150k-200k for cancer surgery, it will be so lucky if he rich enough to paid by cash, but will it be better if you have a choice by paying 0.1% of it then get cover for the medical cost?

Many people think I pay so much for insurance but never claim, a big loss to me. Then he can try get cancer, kidney failure or loss of body part, then sure he can start claiming... sweat.gif

Will it be a bless if never get sick or in accident and live till 90? Money is just not everything, but insurance is to protect & help us to get thru the crisis.

We all know cost of insurance increase by age, so Investment Link Plan exist to average and help to cover the future increasing COI.

Of coz whether to continue insure till 90 is up to individual financial situation. There is just no right or wrong answer. If a person suffer for daily expenses, then certainly insurance not priority anymore. If a wealthy person, he will think why I can paid fraction of cost annually then paying a huge lum sum in one time (wallet bocor or worst need to sell of asset).

Risk & tomorrow which come first? Only God know.

This post has been edited by conqu3ror: Sep 9 2014, 11:59 AM
bklong
post Sep 9 2014, 01:48 PM

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QUOTE(JIUHWEI @ Sep 8 2014, 06:32 PM)
AIA Standalone Med

Entry age: 14 days to 70 Years old.
Coverage limit: up to 100 Years old.

Annual Limit:
Plan 150: 100k, zero co-insurance
Plan 200: 125k, zero co-insurance
Plan 250: 150k, zero co-insurance

Overall Lifetime Limit:
Plan 150: No limit
Plan 200: No limit
Plan 250: No limit

Premiums: Standard Male
Age      l    Plan 150    l    Plan 200    l    Plan 250    l
50        l    1,399.50    l    1,749.00    l    2,271.00
51        l    1,699.50    l    1,818.00    l    2,271.00
52        l    1,699.50    l    1,818.00    l    2,271.00
...Same
...Same

55        l    1,738.00    l    2,258.00    l    2,923.00
56        l    2,259.00    l    2,460.00    l    2,923.00
...Same
...Same
...Same
61        l    3,900.00    l    4,186.00    l    5,140.00
...Same
...Same
...Same
66        l    5,460.00    l    5,860.50    l    7,196.00  <------- Here is where the premiums increase every year
67        l    6,552.00    l    6,413.00    l    7,726.00
68        l    6,650.00    l    6,966.00    l    8,256.00
69        l    6,800.00    l    7,518.50    l    8,785.50
70        l    7,195.00    l    8,071.50    l  10,375.50
...Increasing
...Every
...Year

80        l    11,206.50  l    13,290.00    l  17,487.50
...Increasing
...Every
...Year

90        l    16,257.00    l  19,592.00    l  24,950.00
...Increasing
...Every
...Year

99        l    21,007.50    l  25,512.00    l  31,967.50
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bklong
post Sep 9 2014, 01:53 PM

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Wow AIA medical plan insanely high after 65 yrs. Does anyone have any rough figures for cheaper plans eg Alianz or AXA as someone mentioned? Wud appreciate that just for comparison
cherroy
post Sep 9 2014, 02:10 PM

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QUOTE(conqu3ror @ Sep 9 2014, 11:48 AM)
Anyway, medical insurance is not about investment & return. Although you will get RM1mil medical cover with fraction of cost said RM1k p.a. = 0.1% (depends on age, occupation & plan)

Insurance is about protection, and for long term. Some people may think insurance just cheat people & making huge profit. But try think of the time when a person need 150k-200k for cancer surgery, it will be so lucky if he rich enough to paid by cash, but will it be better if you have a choice by paying 0.1% of it then get cover for the medical cost?

Many people think I pay so much for insurance but never claim, a big loss to me. Then he can try get cancer, kidney failure or loss of body part, then sure he can start claiming...  sweat.gif

Will it be a bless if never get sick or in accident and live till 90? Money is just not everything, but insurance is to protect & help us to get thru the crisis.

We all know cost of insurance increase by age, so Investment Link Plan exist to average and help to cover the future increasing COI.

Of coz whether to continue insure till 90 is up to individual financial situation. There is just no right or wrong answer. If a person suffer for daily expenses, then certainly insurance not priority anymore. If a wealthy person, he will think why I can paid fraction of cost annually then paying a huge lum sum in one time (wallet bocor or worst need to sell of asset).

Risk & tomorrow which come first? Only God know.
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Money is not everything, so does insurance.
Insurance is not a magic tool to help one get through any crisis as well.

If anything happen beyond the scope of coverage of insurance, the insurance will not compensate as well.

Just like natural disaster hit your house, even you have million of coverage, if the policy doesn't cover natural disaster, insurance won't pay you a single cent to help through the crisis, but money in bank does.

Another example is, a person is missing, you need to wait for 7 years to claim the person is dead in order to claim the life insurance.
So even the person has millions of insurance, the family member cannot get the compensation to help them through the crisis but money in the bank does.

How ILP can "average" the increase COI... whistling.gif is beyond my understanding... laugh.gif

Insurance is a risk sharing tool, aka a pool of fund contributed by policy holder, then whoever need to money (compensated based on policy clauses), get the money.
If too many people need to money (claim), then premium needs to be increased so the the pool of fund is enough.
As simple as that.

This post has been edited by cherroy: Sep 9 2014, 02:21 PM
conqu3ror
post Sep 9 2014, 02:32 PM

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QUOTE(cherroy @ Sep 9 2014, 02:10 PM)
Money is not everything, so does insurance.
Insurance is not a magic tool to help one get through any crisis as well.

If anything happen beyond the scope of coverage of insurance, the insurance will not compensate as well.

Just like natural disaster hit your house, even you have million of coverage, if the policy doesn't cover natural disaster, insurance won't pay you a single cent to help through the crisis, but money in bank does.

Another example is, a person is missing, you need to wait for 7 years to claim the person is dead in order to claim the life insurance.
So even the person has millions of insurance, the family member cannot get the compensation to help them through the crisis but money in the bank does.

How ILP can "average" the increase COI...  whistling.gif is beyond my understanding...  laugh.gif
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hahaha... Thanks for your micro pin pointing. rclxub.gif

As I said there is no 100% right or wrong answer.

Life is complicated, we can't expect everything as planned. Else there will no Jeju Ferry, MH370, MH17 & Karpal Singh incident.

Anyway just sharing here. Certainly some people just like pin point & argue.



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