The problem is most senior medical insurances are very expensive.

Any company offer limited protections with cheap fees. Like 20k should be enough..

I would suggest you not to buy medical card with too low limit. As when you finished up the limit, you might have problem buying another medical card. Insurance companies might not want to accept you by then.

The medical insurance quantum grows in tandem with the medical cost in this country. I know for a fact there's no good quality treatment available for RM20K as the amount would be easily used up.

Let me relate to you an incident I witnessed myself. A family friend of mine stayed at Pantai Medical centre for 2 weeks for pre-bypass ops and was slapped with RM100K bill. While RM100K is a huge, it certainly didn't help as he was told to fork out another RM90K to complete the procedure.

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Added on January 4, 2010, 10:34 pmThat is indeed true as no insurer would like to insure an unhealthy person. There are plenty of products out there that offers good coverage and yet fit your bill.

This post has been edited by HHalphaomega: Jan 4 2010, 10:34 PM

If you see carefully, I am mentioning about senior medical insurance. buying a decent one will cost you a rocket.

True, but i dont think there are other ways except paying higher. I understand that that's the reason you choosing lower coverage medical card. However, people do not get healthier when they get older, you will need more protection that time than now. If can afford, try to get the higher coverage. ILP at this age will also be expensive.

well, may be it can only be used for minor admission.
For bigger one, government hospital may be a better choice. 20k - 40k is just enough to cover government fee. As you know, things are never cheap as well for government hospital.

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Added on January 5, 2010, 1:20 amGood and cheap plan, please advise:

http://www.tokiomarine.com.my/products/medical_partner.htm


only drawback is until 65 only..

This post has been edited by epalbee3: Jan 5 2010, 01:20 AM

Epalbee,

From the outset the plan looks like a decent coverage. If you're able to only afford the said plan and willing to take the risk of no coverage post 65, then go for it. End of the day, it really depends on what you can afford and your risk appetite after you've weighed all the variables.

Cheers,

HH

while it's true that there is no best plan per se - a fact we have previously established - it's also true that there is a personal best for everyone. a good overview and understanding of how plans and insurance work helps a lot - many if not all agents i have met with have very little actual knowledge of either. also they will not be inclined to recommend the competition. thus you should get a complete overview and make an educated choice.

if you consider that
a) you want good cover
b) price for good cover is high
c) GI cover is cheap when young and expensive when old
d) you tend to get more financially stable over age
choosing a high GI H&S plan sounds like a good strategy to lock in a high cover doesnt it?

as for senior insurance with applicant age of 60+ the following options are available:

Kurnia - MediGuard Senior (max applicant age 65, max 80)
Tokio Marine Insurans (M) Bhd - Medic Plus (Top-Up insurance only; max applicant age 65, max 70)
pruHealth (max applicant age 70, max age 100)

i dont have all insurances yet (it's not easy and i have been very busy) so the above is only as to the ones i covered already.

This post has been edited by PJusa: Jan 5 2010, 02:32 PM

pruHealth is a rider, not standalone. If you are looking for standalone from Prudential it would be pruSenior med, applicant age 45-70, protect up to age 80.

I would say all very expensive, only kurnia mediguard premier is affordable..

Paying like Rm3k per year is like paying a viva..

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Added on January 5, 2010, 9:06 pmyupe.. the problem about tm is it does not cover after 65.

so kurnia will still be the best.. if not, i will buy tm..

This post has been edited by epalbee3: Jan 5 2010, 09:06 PM

Yes Epalbee3, go for what you feel is the best for your budget and risk assessment.

This post has been edited by HHalphaomega: Jan 5 2010, 11:19 PM

are you sure you compared the correct premiums. per 1k cover kurnia doesnt strike me as cheap.

PJ,

Have you seen a new medi plan from Allianz, MediShield Plus. ? It has a deductible option and the coverage per ringgit looks reasonable.. Maybe good if you could take a look and gives us some comment?

So far my only question is I can't find anywhere in their brochure that says 'guaranteed renewal' and 'portfolio loading'....

Since you see "plus", it has deductable of Rm10k per disability.

So it is just an extra insurance only.

Could you please point out to me where does it say the deductible is per disability?

Thanks.





and..being 'no deductible' option doesn't necessary mean it is good.. Do you know how deductible works, if i may ask?

This post has been edited by numbertwo: Jan 15 2010, 07:00 PM

you can download from here: https://www.allianz.com.my/cls/content.aspx?t=857&m=0#top

By the way, the brochure did not state if per disability, but most medical insurance like that. May be you can ask others.

Maybe a call to their hotline will have a clearer picture

numbertwo,

the allianz plan i have in the comparison already for a while. did not bother to seperate the deductables out. the plan is overall pretty good. a deductable of 2000, 5000, 10000,15000 is optional - i memory serves me correctly, the deductable is overall annual deductable not per disability (as it's the case with tokio marine).

from my research, renewal is guranteed without loading or exclusions. once you have it, you have it. the limits for annual outpatiend cancer / dialysis are small but on the max plan acceptable (20k each).

pricewise the plan is one of the more competitive ones. i will check out how much discount they give for the deductables - with the deductable and a hefty premium discount this plan might work very well in combination with another plan for example AXA. i toyed with a reversal i.e. Allianz no deductable and AXA high deductable for bursts (50% off at 20k deductable) but the lifetime limit with allianz means you might be better off with using a no lifetime limit policy as primary and a policy such as allianz with a high deductable as secondary. however other policies seem to be even cheaper

This post has been edited by PJusa: Jan 16 2010, 10:32 AM

yeah, no assumption made if I can't see it printed. If deductible or max claim per limit is per disability, they will state that UPFRONT.

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Added on January 16, 2010, 10:48 amAllianz plan's deductible max out at 15K , so yes your memory is correct. And it does give a >50% off the non-deductible premium if you choose the max 15K deductible plan.

ie. (R&B rate RM300)
- Male 40 with non-deductible RM751.20
- Male 40 with 15k Deductible RM300

I just need one deductible plan as I'm relying on the Co. med as the primary..

This post has been edited by numbertwo: Jan 16 2010, 10:48 AM

Relying on company medical scheme is very risky.

Because they only cover you when you are active in employment. If you can't work then you are no longer covered. Company

Somemore, the medical claim is based on management approval, no security at all.

Better to have own medical coverage.

And for allianz, only plan 3 make sense. RM100 is very low for coverage.

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Added on January 16, 2010, 11:29 amCompany will terminate people if they are found no longer fit to work.

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Added on January 16, 2010, 11:44 amI do see well converage of allianz medical insurance (plan 3)
Compared to kurnia 210k, you are paying 1.5 times of premium to get 4 times lifetime limits. Worth to buy if you can commit to pay for their premium.



This post has been edited by epalbee3: Jan 16 2010, 11:44 AM