Some of the answers are quite obvious as you wont be sticking to that particular company for the rest of ur life right. So get your medical healthcare insurance when you are at you "tip top" condition and do plan for future as a few nights admission to hospital for dengue fever can cost up to 10K today. What is the cost in 5 to 10yrs time? Take a calculator and punch in the figures!

Btw, i'm attached to Allianz Life Malaysia and you can email me at chew_ronnie@hotmail.com

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Added on March 6, 2009, 4:40 pmIt is not how many policies or which insurance company you prefer or what is your premium. Its a matter of how much you're being protected. That matters alot.

A typical sufficient coverage for an employee in their 30's shall be as follows:
Life/Death : 200K
Critical Illness : 200K
P.Accident : 200K
Hospitalisation and Surgical Benefit : 1M and Room and Board shall be above RM200/day

Above are todays standard! 10 years from today? You do the calculation. Plan for your future.

chew_ronnie@hotmail.com, Allianz Advisor

This post has been edited by chew_ronnie: Mar 6 2009, 04:40 PM

Clap Clap Clap for u

Retirement fund for healthcare? This is the 1st time i hear this by drenching one's life savings to the doctors. No hard feelings ok? Getting an insurance policy is just using one's 3 to 10% of their income / investment returns, and say by using a RM1.8k / yr to get an insurance can easily covers the medical bills to up to RM1M/ lifetime. How long one need to save to reach a million. Don't u think this is a good ROI? But the best thing is dont get sick / accident which is out of our control.
Again no offence

Ok Just For the Sake of this Arguement.

What is wrong with using retirement fund for healthcare? Your retirement fund is to keep your alive and healthy until u pass on. Isnt healthcare one of the basic needs when you retire? Retirement funds are for you to enjoy and live till u pass on. You may factor in healthcare provided that those are minor, and if a person has RM1m for retirement, and chronic illness comes or a serious accident comes, say fees need around 500k, then this will eat up a big chunk from the retirement fund. This is called risk management.

If you have to drench your life saving to the doctors when you retire, you are either severely sick person or you dont have much to retire to start with. Can you control this? Can you guarantee a non-smoker will not get lung cancer? Unless u r the god!

By the way, if you save RM400 a month, when you retire, which I assume your working life is 35 years and you earn 8% a year average, you would have one million when you retire. What u say is exactly true. What u do is wealth accumulation. What i'm saying is instead of using the 400 (of ur hard earned bucks) to accummulate for 35 yrs to get 1m, i'm asking to spare 150 from the 400 to create a medical fund from insurance. Dare to say illness will only strike at retirement? Again unless u r god!

I agree accident is out of our control. Chronic illness can be predicted and usually runs in the family. That's why the insurance policy always check the medical background of your parents and siblings. Absolutely agree!

Haha! ROI? Return on investment? Where is the return? Buying medical insurance is an investment? This is the 1st time I heard buying medical insurance is an investment and you hope for a return on your investment. More likely as a protection. Friend u have get me wrong entirely. The ROI i'm referring to is not the money returns as in investment. What i'm saying is using a small amount of money to create a big life saving fund, this is the ROI. Without a good life, whatever ROI from other investment is of NO use. So i'm strssing out that just use some of your percentage of other investment and put it into insurance to generate a fund to protect ur assets and investment.

Again just for the sake of argument. Not intentionally to offence anyone.

Just my 2 cents. I may not be always right. Cheers.