medical / critical illness insurance enquiry
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 Mar 16 2010, 07:05 PM
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#1
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Junior Member
470 posts Joined: Aug 2006 
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Hey guys and girls, I recently signed up for an ILP with Great Eastern with Smart Medic as the medical rider.
I just only found out that it's yearly renewable. Is there any chance that it CANNOT be renewed once a claim is made? Worried about not being able to renew it when I need it the most i.e at old age. |
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Mar 17 2010, 11:19 AM
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#2
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Junior Member
470 posts Joined: Aug 2006
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QUOTE(PJusa @ Mar 17 2010, 09:43 AM) HHalphaomega, Hi there. Ok over here it says "Unlike Guaranteed renewal type, the yearly renewable type does not have Life Time Limit cap."my concern was the poster mentioned its no renewal guarantee. if only portfolio withdrawal condition then it's a renewal guarentee if the insurance cant cancel the policy on me. otherwise i'd be in trouble. a rider normally has renewal guarantee. i havent checked what policy precisly was mentioned. if you have a non-renewal guarantee policy you sit on a time-bomb albeit a very cheap one.  Since Smart Medic rider has lifetime limit cap, does it make it guaranteed renewable? My agent said the medical card will be valid till 80 years old provided my lifetime limit is not used up. I'm not very convinced after seeing "yearly renewable" from online resources. I just bought it and the policy is not ready yet so I can't refer to it. This post has been edited by Aurora Boreali: Mar 17 2010, 11:21 AM |
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Mar 17 2010, 12:50 PM
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#3
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Junior Member
470 posts Joined: Aug 2006
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Just an update. I've also asked this in KCLau's site, and he said Smart Medic is guaranteed renewable.
Taking this with a pinch of salt until I see my policy. Thanks. This post has been edited by Aurora Boreali: Mar 17 2010, 12:51 PM |
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Mar 17 2010, 02:11 PM
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#4
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Junior Member
470 posts Joined: Aug 2006
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Guys, my friend got this in an email? Anyone knows what's this?
QUOTE Dear Valued TM Customer, We would like to extend our appreciation to you for being a loyal and valued TM customer. As we are constantly discovering new and innovative ways to reward you, we are pleased to offer this complimentary TM ActiveProtection Plan* which is valid for 6 months upon your acceptance. This innovative protection plan provides you and your spouse with a RM30,000 coverage each in the event of Permanent Total Disablement due to accident. The total sum insured is up to RM60,000 and this complimentary insurance coverage is underwritten by Chartis Malaysia Insurance Berhad (795492 - W) (formerly known as AIG General Insurance (Malaysia) Berhad). Our TM representatives will be calling you shortly to confirm your acceptance of this offer and to answer any queries you may have on this free insurance policy. Your acceptance of this free insurance policy indicates your agreement to share your related information with Chartis Malaysia Insurance Berhad for the purpose of policy issuance. Thank you for your continuous support and we hope to serve you even better in future. |
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Mar 20 2010, 09:51 PM
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#5
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Junior Member
470 posts Joined: Aug 2006
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QUOTE(mfitri77 @ Mar 19 2010, 10:49 PM) That's true also, but I would like to advise that if your insurance have the 20% co-insurance penalty for room upgrades, make sure you get the best room cover available that you can afford. Right, that's my concern too.The reason being these days hospital can very well run out 4-bedded rooms quite easily, forcing you to upgrade and take the penalty. Quarantine is another reason why you have to get upgraded room. 2 noob questions here: 1. So, can I like choose to pay the room and board out of my own pocket (and not claim from the insurance) if the total room charges is less than the 20% co-insurance thus avoid paying the 20% co-insurance IF I was forced to upgrade the room? Eg: Insurance R&B = RM 150/day. Forced to stay in a RM200 room for 60 days. R&B = RM 12,000. Surgery etc RM 80,000 + R&B RM12,000 = RM 92,000. 20% co-insurance = RM 18,400. So my question is, can I pay RM 12000 for room myself, and claim only RM 80,000 (assumed this is within annual limit) to avoid paying RM 18,400? 2. Is there such thing as you paying the difference in the R&B upgrade to avoid co-insurance? Say your insurance only gives RM150/day but you're staying at a RM200 room, but you only claim RM150 and pay the remaining RM50 yourself? |
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Mar 21 2010, 05:05 PM
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#6
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Junior Member
470 posts Joined: Aug 2006
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Lusmays, your answer is irrelevant as I was responding and asking questions with regards to what mfitri77 said "That's true also, but I would like to advise that if your insurance have the 20% co-insurance penalty for room upgrades, make sure you get the best room cover available that you can afford." Bear in mind the 20% co-insurance is DUE TO R&B upgrade and has NO limit.
Perhaps mfitri77 can answer my questions. |
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