weikian,

1) makes little sense. many GI companies actually specialise in providing medical insurance (see for example axa globally) and most if not all (non local) ones have extensive portfolio experience. GI is always cheaper than Life for reasons outlined before. it has nothing to do with service or claims.

just buy one GI on medical and one GI on PA, should be enough.

the coverage must be at least RM200k so that you can be fairly cover.

then the rest of the money you can use to invest, buy property and saving.

Yupe, agree a lot with all of you.

20% will not be imposed if R&B is below the limit, e.g. RM150.

Yes, PJusa, I agree with you that 500k - 1 million is a reasonable number now.

Currently my monthly PA plus medical is around RM40 with 125k PA and 210k medical coverage.

If I can, I want to upgrade it to 500k PA and 420k medical converage next year.

But again, it will cost me about RM1500 per year, or RM125 per month, a dramatical changes. This only for age range 30-35.

Again, you must know that PA rate is fixed while medical rate is increasing exponentially. When you need it more, you can't afford it, it is somehow a truth.

At the end I might increase my PA coverage to 200k while maintaining medical insurance coverage.

All of us can come out with the figure of 500k - 1 million, but not all of us afford to buy it, those who afford may want to spend it elsewhere for better life (buying house, saving, daily expenses, etc).

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Added on January 2, 2010, 12:38 pm

You are right on the statement that pay now and easy later.

Investment link with medical coverage is also help saving money first then pay for it later.

As I know, there is no life insurance guarantee the medical fee; and you may be requested to downgrade your medical coverage if investment is not satisfactory. After all, it is still a bet for investment.

I would say for those who don't mind expensive life insurance, they should buy it.
For average people like us, we would need a cost-efficient coverage and the rest of the money we will invest ourselves.
But you must be very disciplined using GI, which increase every five years. life will be for those who needs fixed rates.

But indeed, GI is most cost effective, sort of DIY.

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Added on January 2, 2010, 12:41 pm

If you need all these. you will need a full life insurance, but you pay more.

BUt if you ask people around, those who get life insurance usually get lower coverage like 100k medic, 50k life, 30k PA only, as there are a lot of fees/coverages. but they have to pay like RM200 a month. May be those with life insurance can advise on this.

yupe.. this policy is good for medical but still need to buy separate PA..

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

Thanks PJusa very comprehensive answer. discussing with agent to terminate ILP and they try to convince me that their product is good because it comes with special benefit. anything happen to parent the policy will be waived

What Lusmays say is true. I believe the medical card he is referring to is Either from Allianz or Prudential.

For your question, you cannot opt to pay for the excess room and board charges yourself. Because most insurance companies in M'sia covers room and board and once a person is admitted, the room and board will be borne by the insurer and if overstay the room and board limit, insurer will impose a Co-payment (i would rather use the world co-payment than co-insurance coz co-insurance is the % amount on the surgical cost) depending on the terms and conditions of the card. As far as i'm concern, I know GE's Smart Medic co-payment is up to no cap. Allianz is 20% up to max of 1000. I believe this applicable to Pru Health too (Pru agent pls verify this).

Thanks

Hei WeiKian,

Thanks for your feedback. What you say is true. But this is only applicable for surgical cost and expenses (subject to 10% co-insurance, max RM500.)
What i'm referring up there is if u upgrade the room to say RM200 if you are holding RM150. what is the consequences? I am holding their brouvhure here and it says [20& co-insurance and no maximum capping if upgrade room and board]. Mate do check this out!

Do post here if you still dun understand what that mean - so we can share.

Thanks

Allianz has co-payment of 20% up to max RM1000 if upgrade R&B but no co-insurance on surgical fees and expenses. Others not too sure. So you can just check around.

Thanks

is great eastern good? im planning to get ILP with great eastern, but my option is still open.

do government servant need to have medical coverage? they entitled to get free medical at government hospital right