rakyat,

the premium increases per age band are not a problem. you need to look at average premium from today until end of the policy. that's the number that counts. also if you select a decent policy you will not have any surprise loadings. any policy that reserves the right to load based on individual claims experience is not worth the paper its printed on.

if you are young for this reason and others mentioned before you should get a _good_ general insurance H&S plan and lock in. life will always cost you significantly more.

but i do agree that amongst the offers for life term or whole life are the only halfways acceptable policies. the others are mainly eye candy (at a premium) or risk shifting towards the policy owner and in general a waste of your money.

if you dont want to finance the agent, go direct with general insurance. the discount is 15% for health, 25% for PA. that savings can be used to buy higher cover or be enjoyed as extra savings for a rainy day.

And I think Rakyat is wrong too on buying a life and attach a medical.
Medical insurance, no matter life insurers or general insurer, are all age-banded. The only reason you think the medical premium is 'locked' because you pay more than what the medical insurance suppose to cost you, and I believe the only life insurance where you can attach a medical card is an ILP. So, in ILP, you still pay your medical as per the age-band premium, you won't realise the increase of premium until one fine year you find out that the units inside your ILP is no longer sufficient to pay the rising medical cost..

I have a concern. I bought the medical insurance without card.
Thus I have to do reimbursement.

What are the advices which one is better? medical card or reimbursement?
I read that with medical card you have not much choice of hospital, however you will save a lot of hassle.

And who can let me know how difficult is the procedure to claim for kurnia?

Need advice from those who has AXA Affin smartcare optimum. I have basic cover from my company and interested with AXA deduction option. the premium is a lot cheaper.

however if I choose deductible option, I heard we must to pay first and claim later. is this a best option since we could not predict how much the medical cost and whether we have sufficient fund to pay? Or better to take the full policy?

Hi
You mentioned that your company already provides you a basic one, perhaps 20-30K yearly limit? If that's true, then the deductible option is very handy indeed. Say one admits into hospital and he/she has to pay a 40K bill, one can use the company's basic coverage to claim till the max, say 30K and the balance of 10K he/she can then claim it from the AXA deductible option. (but of course, you have to folk out the 10K first, and claim from AXA later..)

I always think that for employers like us who have got basic coverage from our companies, it is wise to go for deductible option.

This post has been edited by numbertwo: Nov 26 2009, 09:37 AM

Thank you for your advice,actually 15 K limit. is the same goes to other limit like cancer treatment etc? we can choose this deductible option?

U can only attach a medical rider to ILP? Nope, when I bought my whole life there was a medical rider attached, I took it out after 1 yr as my employer covers me & my family's medical. An agent advised me accordingly (bout buying a medical rider early to lock-in the premium) hence my preception on the matter, the agent trying to earn commision only....

So the insurance co. will deduct the returns in order to offset the premium of the medical rider

I hope anyone can help me to explain further about this deductible option. let say I choose deductible option and pay the first 15 K and let say AXA give 40% discount on the premium. which one of this statement is right:

-we need to pay at least the first 15 K from one calender year and then only we can start file a claim with AXA if hospitalized (how AXA know we have eat up our company medical card annual limit or have pay first 15K in a year). does it means 15K from our AXA annual limit will also be deducted?.
-OR each time we hospitalized, we need to pay at least 15k before can file a claim with AXA

I get confuse, hope for help

This post has been edited by cenkudu: Nov 27 2009, 02:19 AM

the policy can be found here: www.axa.com.my/wordings/PW_SCOptimum.pdf

clause 7: "The Policyholder has the option to choose a Deductible in return for a reduction of premium. The Deductible shall be deducted from the eligible medical expenses, per Insured Person per Policy Year."

so you file all expenses with them, once they exceed 15k in total, AXA pays. the rest will not be paid. you may claim those payments from a second insurance company. so in other words, number one is correct. 15k will however not be deducted from your annual limit.

thanks PJusa,in other words we need to file all claims to AXA including the first 15 K eventhough it will not be covered by them and cover by 2nd insurance company. is it right? let say I take plan 3 (100 k per year), first 15 K will be paid by me and I can claim another 100 K to AXA. maybe I need to call AXA to clarify.

cenkudu,

i dont have a deductable on the axa policy but yes this is the way i would do it.you will need a copy of the bill to claim from other insurance though. alternatively you can also substantiate your axa claim with copies of bills showing you paid 15k by other means.

Deductible simply means you pay(or the other insurance co. pays) the first RMxxK, and bill the balance to AXA. Whether you need to submit the original medical Bill or a copy of the Bill, you would need to check with the insurance co. I know a general insurer's policy is to submit them a 'true certified' copy of the bill will do.

To Rakyat.. I am surprised you can attached a rider to a wholelife plan as I tot you can only buy it separately. But anyhow, it goes back to square one if the med insurance is deducting the wholelife's return to cover the rising cost of the medical premium.

medical protection comes with cost.

I prefer separately as ala-carte types can help you to customize your preference and take out anything that you don't want.

e.g. you may be able to change medical coverage without changing the life insurance, and you have the choice to add-in extra coverage when you have more free money.

Rakyat,

What's the name of the policy you purchased?

Whole Life + Medical Card as Rider ?

hi all. would like to seek opinion from all bro/sis here.

i need to get a "pure" term insurance (with total permanent disability + critical illness; without any cash back or surrender value; premium won't increase as age get higher)
age: 23
sex: m
smoker: yes

my budget is within RM100 per month.

any bro/sis here have idea which plan should i get and from which insurer that will provide me higher sum assured and highest age that will cover till (e.g. 65 or 70)?

thanks a lot in advance!

This post has been edited by 3332999: Nov 30 2009, 02:29 AM

Its from MAA but can't recall the name of the product.

BTW I did not attach the medical coverage (there was no medical card 15 yr ago) as my employer already covered my medical expenses.

currently, i have an investment linked insurance with one of the insurance company that was purchased some years ago. i intend to look for some upgrade to the coverage of my medical plan in this investment linked policy. the current medical plan coverage is ok, but with quite a few limitations like per confinement limit/low coverage for cancers etc and might not be sufficient for the future medical inflation. current policy has no loading since it was purchased years ago.

i have asked for the quotation of investment linked insurance from another insurance company, but unfortunately there is about 50% loading due to my hypertension situation. the new medical plan coverage has higher limits, but the life assured amount is very minimal.

question: should i maintain the current investment linked policy, despite its limit? or should i opt for the new policy and terminate the old policy once the 4 months observation period is over, even though it's much more expensive?

PS: wont be able to sustain both medical plans due to $$$.

appreciate some feedbacks and comments.

The best way in your situation is probably to just stay with your current provider, and ask for an upgrade to the better plans. It should be lower than you switching to an entirely new provider, with a more advance age, and loading.

As for the life assured... Well, it depends on you. Usually from what I see, the thing that kills people financially is not the death of the loved one, but the bills they incur when they still live on. That's why medical is important.

Like the CI, for cancer its only stage 3 and above that CI payout comes in. Medical covers your bill for stage 1 and 2, and 3 and 4. Trust me, when you have cancer, that big lump sump of money is not going to be very big for long.

thanks for the feedback. i've asked the current insurance policy and unfortunately, the current medical plan is not upgradable anymore. that's why the dilemma

jutamind,

actually you can solve the dilemma with a little outside the box thinking:

1. you should keep the current policy (even though i dont know the details of the plan) due to the time and money sunken - even though i generally regard investment linked policies as bad choices. you are locked in and you cant cancel the policy due to the loading otherwise experienced.

2. i take it you have identified the current H&S cover to be inadequarte. buy a general insurance policy and see if you can get it without loading if you exclude hypertension. this is risky however worth a shot since your current cover will take care of such issues to some extent. you might also want to consider a loading since general insurance H&S is a lot cheaper. you should be able to afford the additional costs if you are considering an upgrade with an investment linked policy. you may even choose a GI plan with a deductable to effectively upgrade your current cover. most good plans offer hefty discounts for a deductable of 5-20k p.a. or per disability.

hope this helps