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View Full Version : Which Medical Card to buy for 59 years old



jimmyay
20-02-2009, 09:57 AM
Anyone have bought Medical Card for your family recently? I am looking for my mum. She currently covered under Allianze. But they going to terminate this 'plan' in another 1 year time. So i gotta find a new one.

jimmyay
20-02-2009, 09:58 AM
Is AIA still reliable?

Erino
20-02-2009, 10:09 AM
Hi Jimmy

Maybe u can try ING medical card, if you need the contact you can pm me.

rakyat
20-02-2009, 10:33 AM
Anyone have bought Medical Card for your family recently? I am looking for my mum. She currently covered under Allianze. But they going to terminate this 'plan' in another 1 year time. So i gotta find a new one.

Most Medical card will terminate when the insured reaches a certain age (70s??) It will be xpensive to purchase a new plan for ur mum now due to the advance age but still possible. But a new plan will restart the waiting period and exclude any pre-existing.

Why is Allianz terminating her plan? Due to the age limit, high claims or r they discontinuing the product? If discontinuing, BMN does not allow complete phase out of MHI products, they must migrate the customer to another similar coverage. If due to high claims, they cannot terminate but can only load and exclude certain illnesses previously claimed for

EricK
20-02-2009, 01:37 PM
Most Medical card will terminate when the insured reaches a certain age (70s??) It will be xpensive to purchase a new plan for ur mum now due to the advance age but still possible. But a new plan will restart the waiting period and exclude any pre-existing.

Why is Allianz terminating her plan? Due to the age limit, high claims or r they discontinuing the product? If discontinuing, BMN does not allow complete phase out of MHI products, they must migrate the customer to another similar coverage. If due to high claims, they cannot terminate but can only load and exclude certain illnesses previously claimed for

rakyat is right.... medical card and life insurance in general terminates when a person reaches a pre determined age.... However i recently came across a plan from Great Eastern that claims it covers until the age of 100... As usual you have to do your homework as to what exactly the plan covers.. and your mom,being at and advance age, i'm sure the premium they will charge is substantial...

maxima
20-02-2009, 02:10 PM
I bought this package for my 24-year-old family member recently. Seems no other insurance agent can beat it :D . The package is as below:

Premium RM1200 pa

Death 80K cover till 100 year old
TPD 80K cover till 60 year old
36 CI 80K cover till 100 year old
Medical card Plan 1 cover till 80 year old
Annual Limit 50K
Life time limit 500K
Room rate RM100

Payor cover- Premium Waived, saving continue to grow till age 100.

lly
20-02-2009, 04:28 PM
For those of us who are working for people, our medical and hospitalization is covered. When we retire/out of job/decide to be boss, we need to buy medical card. By then, we will be rather old and the premium is high. I am wondering if it is worth the while to buy now even though covered by company or wait till no coverage then only buy. Any thoughts on which medical card offers a good deal?

rakyat
20-02-2009, 04:36 PM
I bought this package for my 24-year-old family member recently. Seems no other insurance agent can beat it :D . The package is as below:

Premium RM1200 pa

Death 80K cover till 100 year old
TPD 80K cover till 60 year old
36 CI 80K cover till 100 year old
Medical card Plan 1 cover till 80 year old
Annual Limit 50K
Life time limit 500K
Room rate RM100

Payor cover- Premium Waived, saving continue to grow till age 100.

U r quoting a whole life policy & ur right it looks like a good deal but there si no saving-la. The only way u can see the $$$ besides major claim is to surrender the policy hence the 'saving' part is meaningless since its not the same as surrender value.

maxima
20-02-2009, 04:37 PM
For those of us who are working for people, our medical and hospitalization is covered. When we retire/out of job/decide to be boss, we need to buy medical card. By then, we will be rather old and the premium is high. I am wondering if it is worth the while to buy now even though covered by company or wait till no coverage then only buy. Any thoughts on which medical card offers a good deal?

I asked the same question. The agent said since the package I buy (PRUlink) is linked with investment, the saving will continue to grow and we will finally get back what we paid, so it is worth to keep the policy even the company do buy us another one.

maxima
20-02-2009, 04:38 PM
U r quoting a whole life policy & ur right it looks like a good deal but there si no saving-la. The only way u can see the $$$ besides major claim is to surrender the policy hence the 'saving' part is meaningless since its not the same as surrender value.

That is a medical card come with Life policy etc..

rakyat
20-02-2009, 04:40 PM
For those of us who are working for people, our medical and hospitalization is covered. When we retire/out of job/decide to be boss, we need to buy medical card. By then, we will be rather old and the premium is high. I am wondering if it is worth the while to buy now even though covered by company or wait till no coverage then only buy. Any thoughts on which medical card offers a good deal?

Buy medical card attached to life policy okay-la since its 'entry age' & premium does not increase as u age.

But if u buy 'stand alone' medical card then different case since it will be 'age band' or 'attained age' i.e. premium will increase as u age; usually every 5 years the premium will be adjusted upwards. So make no difference if u buy today or after your retirement, premium will reflect your age category. Better to buy only when u retire-lo

gmgan
20-02-2009, 05:42 PM
U can buy Prudential Ins. which my mother in law also buy this medical card for the age 65. U can email me if need any further clarification.

gmgan
20-02-2009, 05:44 PM
Anyone have bought Medical Card for your family recently? I am looking for my mum. She currently covered under Allianze. But they going to terminate this 'plan' in another 1 year time. So i gotta find a new one.
I suggest u bought Prudential medical card which my mother in law also bought from this company with the age 65. If u need any further clarification. Kindly email me.

jimmyay
20-02-2009, 06:17 PM
I bought this package for my 24-year-old family member recently. Seems no other insurance agent can beat it :D . The package is as below:

Premium RM1200 pa

Death 80K cover till 100 year old
TPD 80K cover till 60 year old
36 CI 80K cover till 100 year old
Medical card Plan 1 cover till 80 year old
Annual Limit 50K
Life time limit 500K
Room rate RM100

Payor cover- Premium Waived, saving continue to grow till age 100.

May i know which Insurance company provide this plan?

joker2107
20-02-2009, 06:18 PM
I bought this package for my 24-year-old family member recently. Seems no other insurance agent can beat it :D . The package is as below:

Premium RM1200 pa

Death 80K cover till 100 year old
TPD 80K cover till 60 year old
36 CI 80K cover till 100 year old
Medical card Plan 1 cover till 80 year old
Annual Limit 50K
Life time limit 500K
Room rate RM100

Payor cover- Premium Waived, saving continue to grow till age 100.
maxima, you are talking about age of entry at a very youthful 24 only. note the tpd and medical are not consistent in coverage with the primary policy. you can't claim for tpd and you will not be able to get a similar coverage when the insured in 60 years + 1 day old. okay, probably 80 years is enough for most people so medical, as far as tenure is concerned, is okay. but be very very very sure that the premium for the medical card is fixed based on age of entry and not subject to variation by age band. if it is fixed, i mean really really fixed and with guaranteed renewalability, please buy the max you can afford. i too would like to buy a similar cover though i would not be sure how long the insurer will survive with this kind of policy pricing strategy. also for medical, one must see if claims allowed is as charged or subject to conditions. how about co-insurance? and coverage for cancer and organ transplant? look at the coverage for certain invasive surgical procedures - is there any condition? how about pre and post admission claims? is there per condition limit and what if the insured is readmitted for the same illness? the list of questions go on and on - insurance is such a fine line that may so called expert product trainers i consult are not able to answer my questions. the best answers probably come from the claims dept, the people who will ultimately say whether grey is whitish black or blackish white.

by the way, always treat insurance as your own money. what you claim today will reduce the amount you can claim tomorrow, and do not forget about annual limits.

note also for life there are participating and non-paricipating plans. the latter does not provide any thing more than the face value of the insured sum.

on investment link, profits, etc, i'd suggest you ask the agent or even prudential to put it in black and white that you will have a profit with effect from a certain date. by the way, is the life and tpd coverage really 80K immediately, considering the revelation that it is an investment linked policy?

joker2107
20-02-2009, 06:50 PM
For those of us who are working for people, our medical and hospitalization is covered. When we retire/out of job/decide to be boss, we need to buy medical card. By then, we will be rather old and the premium is high. I am wondering if it is worth the while to buy now even though covered by company or wait till no coverage then only buy.
lly, hospitalisation policies (medical card) are essentially not-for-profit reimbursement only plans the premium of which is based on one's declared medical condition at point of application.

your question about whether or not it is worth buying while already covered under company benefits is very often asked and definitely most pertinent.

i'd answer with two questions, if you don't mind. the only reason for answering this way is for readers to think carefully before answering the insurance agent.

1. what if the worker is retrenched or the company folds up?
2. what if the worker suffers a serious condition or is discovered to have diabetes or high blood pressure or elevated cholesterol levels while the worker is still employed?

notwithstanding question 1, I'd still suggest to those in financial woes to give up their hospitalisation policies in order to put food on the table. there is always an alternative to high medical bills, although the opportunity cost is probably lengthy and uncomfortable waits in govt hospitals.

i think life policies come 2nd to hospitalisation coverage when one thinks of buying insurance. however, when there is a need to tighten the purse strings, life policies should be continued if one has dependents.

joker2107
20-02-2009, 07:09 PM
FOR NON MUSLIMS, PLEASE MAKE SURE THAT YOU HAVE NAMED / UPDATED YOUR BENEFICIARY FOR ALL YOUR INSURANCE POLICIES. SAME GOES WITH YOUR EPF.

THIS IS VERY IMPORTANT AS THE MONEYS MAY GO TO THE WRONG PARTY JUST WHEN IT IS MOST NEEDED.

ALSO PLEASE ASK YOUR AGENT / INSURER'S CUSTOMER SERVICE IF IT IS REALLY NECESSARY TO HAVE A TRUSTEE.

MUSLIMS ARE COVERED UNDER THE ISLAMIC LAW OF INHERITANCE.

mlkok
20-02-2009, 11:31 PM
I bought this package for my 24-year-old family member recently. Seems no other insurance agent can beat it :D . The package is as below:

Premium RM1200 pa

Death 80K cover till 100 year old
TPD 80K cover till 60 year old
36 CI 80K cover till 100 year old
Medical card Plan 1 cover till 80 year old
Annual Limit 50K
Life time limit 500K
Room rate RM100

Payor cover- Premium Waived, saving continue to grow till age 100.

Sorry to tell you that your family member has just been screwed royally.

With RM100 room rate, how long do you think it will be before you have to bear part of the hospitalization cost?

Also, at such a low premium rate, you better get it in black and white that there's enough cash value to last till age 100. :rolleyes:

Also, if RM1200 per annum is what you are willing to pay, it not that no insurance agent will beat it. None of them will bother to compete for it. :p