tag:blogger.com,1999:blog-58135410886674801182024-03-20T11:44:54.122-07:00Health Care Insurance in MalaysiaLife Insurance, Critical Illness, Accidental, Expats, Medical Card, Health Insurance. ** Hotline 016-451 5957 **Roy Steven Unghttp://www.blogger.com/profile/12928919106791020914noreply@blogger.comBlogger58125tag:blogger.com,1999:blog-5813541088667480118.post-78117199735368926412019-12-19T22:03:00.000-08:002019-12-19T22:03:31.963-08:00Medical Card Waiting Period and Incontestibility Period<div dir="ltr" style="text-align: left;" trbidi="on">
The Waiting Period for Specified Illness is 120 days. Do refer to the Exclusion list for the details of what is not covered for the first 120 days when starting the medical card.<br />
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Let it be known that there is also an <b>Incontestibility Period</b> of up to 2 years.<br />
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There is a difference between these two.<br />
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If there are any claim which falls under the Specified Illness within the waiting period of 120 days, the said claim will be duly rejected.<br />
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However if a major claim (that has a close relation to a Critical illness) were to happen within the 2 years from starting of the policy, the insurer may at its discretion use the Incontestibility Period clause.<br />
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This means that the insured will have to pay for the hospital bill and then file the claim to the insurer for reimbursement.<br />
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The insurer will then investigate as to whether the insured had seek any consultation with regards (to the illness being claim) to determine if a non declaration of material fact had occur during the policy inception.<br />
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For example, mild stroke before the 2 years of Incontestibility period.<br />
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If admitted due to a mild fever or accident, then most likely there won't be any investigation be triggered.<br />
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If the result of the investigation for the non disclosure of material fact is sided on the insured (meaning there is no record in hospital or clinic) then the claims will be duly paid back to the insured.<br />
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However if the result of the investigation shows that there was indeed elements of non disclosure of material fact, eg health status (have record in hospital or clinics of the illness eg lumps or tumor or cancer marker high), occupation (lorry driver declared as office worker) , smoking status (smoker declared as non smoker), then the policy will be re-underwrite by the Underwriters.<br />
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Should the insured ia not agreeable to the new term (due to the non disclosure) then the policy will be considered as null and void. All premiums paid minus the claims (if any) will be refunded to the insured.<br />
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This is why it is very critical to get insured when we are healthy with no records in the hospital.<br />
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It is also very important to answer the health questionaires properly. </div>
Roy Steven Unghttp://www.blogger.com/profile/12928919106791020914noreply@blogger.com0tag:blogger.com,1999:blog-5813541088667480118.post-60368340191420640772018-01-02T10:06:00.001-08:002018-01-02T10:06:33.928-08:00Is it advisable to get two medical cards from different Insurer?<div dir="ltr" style="text-align: left;" trbidi="on">
<span style="background-color: #f5f9fd; color: #222222; font-family: Verdana, sans-serif; font-size: 12px;">One of the main reason why people get another medical card is because the limit on the first card is nearly exhausted or wanting to save cost by applying a high deductible on the second medical card.</span><br />
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<span style="background-color: #f5f9fd; color: #222222; font-family: Verdana, sans-serif; font-size: 12px;">For convenience sake, it is advisable to restrict the claims to one insurer and best option is to UPGRADE the existing medical card and not maintain 2 medical cards. </span><br />
<br style="background-color: #f5f9fd; color: #222222; font-family: Verdana, sans-serif; font-size: 12px;" /><span style="background-color: #f5f9fd; color: #222222; font-family: Verdana, sans-serif; font-size: 12px;">Unless during the application for upgrade, the client has other health issues which may impose Exclusion. Then it is recommended to have 2 cards. If not, best to stick to one card.</span><br style="background-color: #f5f9fd; color: #222222; font-family: Verdana, sans-serif; font-size: 12px;" /><br style="background-color: #f5f9fd; color: #222222; font-family: Verdana, sans-serif; font-size: 12px;" /><span style="background-color: #f5f9fd; color: #222222; font-family: Verdana, sans-serif; font-size: 12px;">Handling of the claims with second insurer can at times be mind boggling as the second insurer will require the exact medical reports which were submitted directly to the first insurer. Ding dong here, ding dong there, which causes delay in paying the claims.</span><br style="background-color: #f5f9fd; color: #222222; font-family: Verdana, sans-serif; font-size: 12px;" /><br style="background-color: #f5f9fd; color: #222222; font-family: Verdana, sans-serif; font-size: 12px;" /><span style="background-color: #f5f9fd; color: #222222; font-family: Verdana, sans-serif; font-size: 12px;">--</span><br style="background-color: #f5f9fd; color: #222222; font-family: Verdana, sans-serif; font-size: 12px;" /><span style="background-color: #f5f9fd; color: #222222; font-family: Verdana, sans-serif; font-size: 12px;">Here is a claims scenario that you may want to consider as well...</span><br style="background-color: #f5f9fd; color: #222222; font-family: Verdana, sans-serif; font-size: 12px;" /><br style="background-color: #f5f9fd; color: #222222; font-family: Verdana, sans-serif; font-size: 12px;" /><span style="background-color: #f5f9fd; color: #222222; font-family: Verdana, sans-serif; font-size: 12px;">Assuming that the first card comes with an annual limit of RM50K, while the second with RM50K deductible and RM1M limit and the surgery costs RM80K.</span><br style="background-color: #f5f9fd; color: #222222; font-family: Verdana, sans-serif; font-size: 12px;" /><br style="background-color: #f5f9fd; color: #222222; font-family: Verdana, sans-serif; font-size: 12px;" /><span style="background-color: #f5f9fd; color: #222222; font-family: Verdana, sans-serif; font-size: 12px;">Since the first card is only able to provide Guarantee Letter up to RM50K, upon discharge, the client is required to pay in cash RM30K and using the original receipt, Letter of Settlement (from 1st insurer) & hospital medical reports, file a claim from the second insurer.</span><br style="background-color: #f5f9fd; color: #222222; font-family: Verdana, sans-serif; font-size: 12px;" /><br style="background-color: #f5f9fd; color: #222222; font-family: Verdana, sans-serif; font-size: 12px;" /><span style="background-color: #f5f9fd; color: #222222; font-family: Verdana, sans-serif; font-size: 12px;">If both cards were from the same insurer, then it is possible to seamlessly have the second medical card to cover the hospital charges variances without having the client to fork out his own money.</span><br style="background-color: #f5f9fd; color: #222222; font-family: Verdana, sans-serif; font-size: 12px;" /><br style="background-color: #f5f9fd; color: #222222; font-family: Verdana, sans-serif; font-size: 12px;" /><span style="background-color: #f5f9fd; color: #222222; font-family: Verdana, sans-serif; font-size: 12px;">--</span><br style="background-color: #f5f9fd; color: #222222; font-family: Verdana, sans-serif; font-size: 12px;" /><span style="background-color: #f5f9fd; color: #222222; font-family: Verdana, sans-serif; font-size: 12px;">Another point to consider when getting the second medical card with high deductible is some coverage clauses. For example, older medical cards between the year 2003 and 2015 for the Cancer Treatment & Kidney Dialysis are known to Exclude Take Home Drugs, Long Term Medication and Consultation Charges (THD, LTM & CC).</span><br style="background-color: #f5f9fd; color: #222222; font-family: Verdana, sans-serif; font-size: 12px;" /><br style="background-color: #f5f9fd; color: #222222; font-family: Verdana, sans-serif; font-size: 12px;" /><span style="background-color: #f5f9fd; color: #222222; font-family: Verdana, sans-serif; font-size: 12px;">If it is married together with a second medical card with say RM50K deductible, even though the second medical card do cover the THD, LTM & CC, the total Cancer claim will have to Exceed the RM50K deductible before the above can be claimed.</span></div>
Roy Steven Unghttp://www.blogger.com/profile/12928919106791020914noreply@blogger.com0tag:blogger.com,1999:blog-5813541088667480118.post-50769253282373770602017-04-12T04:05:00.001-07:002017-04-12T04:06:41.741-07:00Health Ministry hikes up hospital fees for foreigners up to 230pc - See more at: http://www.themalaymailonline.com/malaysia/article/health-ministry-hikes-up-hospital-fees-for-foreigners-up-to-230pc<div dir="ltr" style="text-align: left;" trbidi="on">
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<span style="color: #333333; font-size: 14px;">KUALA LUMPUR, April 8 2017 ― Foreigners seeking medical treatment at government hospitals will be charged a far higher rate with immediate effect, the Ministry of Health (MOH) announced.</span><br />
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In a directive issued yesterday, the ministry said ward and surgery rates will be raised from between 130 and 230 per cent respectively, <em>The Star</em> reported today.</div>
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From now on, foreign patients will have to pay RM2,800 instead of RM1,200 for surgery.</div>
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Those who need inpatient treatment in second-class wards will have to pay a deposit of RM3,000, and RM5,000 for surgery. Formerly the rates were RM900 and RM1,500 respectively.</div>
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Foreign patients warded in the executive and first-class wards will have to pay RM7,000 and RM11,000 for surgery deposits, a staggering increase of RM4,900 and RM7,000 respectively.</div>
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The new rates will apply to both children and adults, except for foreigners holding permanent resident status.</div>
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Those married to locals and children with one local parent and is under 12 will also be exempted.</div>
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MOH deputy secretary-general Datuk Mohd Shafiq Abdullah said the new rates were aimed at cutting medical subsidies for foreigners.</div>
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Putrajaya first introduced separate rates for foreigners in January 2015 after it was revealed that they took up between 30 per cent and 40 per cent of the subsidy in medical treatment for Malaysians.</div>
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It also decided that subsidy for foreigners would be gradually cut.</div>
<span style="background-color: white; color: #333333; font-family: "open sans" , "helvetica neue" , "helvetica" , "arial" ,; font-size: 14px;">Source:- </span><br />
<span style="background-color: white; color: #333333; font-family: "open sans" , "helvetica neue" , "helvetica" , "arial" ,; font-size: 14px;">See more at: <a href="http://www.themalaymailonline.com/malaysia/article/health-ministry-hikes-up-hospital-fees-for-foreigners-up-to-230pc">http://www.themalaymailonline.com/malaysia/article/health-ministry-hikes-up-hospital-fees-for-foreigners-up-to-230pc</a></span></div>
Roy Steven Unghttp://www.blogger.com/profile/12928919106791020914noreply@blogger.com0tag:blogger.com,1999:blog-5813541088667480118.post-61884335987772639432016-12-05T20:02:00.003-08:002016-12-05T20:02:41.619-08:00Man's Greatest Asset<div dir="ltr" style="text-align: left;" trbidi="on">
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Man's Greatest Asset</h2>
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People say money is not everything, but in reality, everything these days costs money. That is the fact. Things gets more and more expensive and the value of money that we have grew smaller each day. </div>
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This is why in general most of us gets up in the morning and go to work, in pursuit of the income. That in turn helps to pay for the bills.</div>
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Life is a journey and everyone dreams of having a perfect life, starting from young we were raised to have a good education so that it may propel us to be a successful adult.</div>
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We would then find our soul mate and one day have kids of our own and hopefully one day retire comfortably. Everyone dream of having the perfection in life.</div>
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However, as we know, life is a journey, and one of the things that could happen to us is that we fall seriously ill or is involved in a major accident that causes Total & Permanent Disability (TPD).</div>
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Should that were to happened to us, it could robbed us of our greatest asset that we have. It is our <b>ability to work</b> to generate an income is in fact the greatest asset, not our car, not our house nor the amount of money in our bank.</div>
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Have you ever thought of how much you or your loved ones would need for the next 10 or 20 years if the TPD were to happened to you, yesterday?</div>
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We are the golden goose that lays the eggs (assets/house/car/investments/businesses). As such, doesn't it makes sense to 'protect' the most important assets that you have?</div>
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Roy Steven Unghttp://www.blogger.com/profile/12928919106791020914noreply@blogger.com0tag:blogger.com,1999:blog-5813541088667480118.post-25995304238325985092016-08-29T08:10:00.001-07:002016-12-05T19:41:42.627-08:00Retention of the Medical Records<div dir="ltr" style="text-align: left;" trbidi="on">
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Medical Records - KEEP THEM!</h2>
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In many of the instances people tend to forget the details of their hospitalization and/or medical history, especially if the ailment being treated is minor and not life threatening.</div>
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Most of us don't even bother to keep these records as soon as the Doctor tells us that we have nothing to worry about or is being discharged with a clean bill.</div>
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This article purpose is to relay the importance of having a good record of our medical history.</div>
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This is because if we would like to get any insurance (or even upgrades on the current insurance plan), the insurer will want to know what risk they are up against and your hospitalization history is a material fact that needs to be declared.</div>
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Failure to declare material fact (during the insurance application or upgrade) may render the insurance policy null and void, thus resulting in having the claims rejected or deferred.</div>
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It is highly recommended to scan and keep records of the following documents in your computer or google drive / cloud.</div>
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1. Discharge Summary - which states the reason for the admission, date of admission, the doctor's name, the hospital that you went to, the types of medication given (if any), the recovery period and discharge date.</div>
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These information are vital during an insurance application/upgrade.</div>
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2. All Medical Records/Investigations done - for example the HPE report (histopathological examination) or blood test. These medical reports will need to be submitted to the insurer.</div>
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By doing the scan, you can also retrieve the information pertaining to your medical history if it is needed especially if you need to have a second opinion with another Doctor with regards to your medical condition.</div>
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Roy Steven Unghttp://www.blogger.com/profile/12928919106791020914noreply@blogger.com0tag:blogger.com,1999:blog-5813541088667480118.post-45716635257917461642015-12-20T05:15:00.002-08:002015-12-20T05:15:59.089-08:00Dialysis subsidy drying up<div dir="ltr" style="text-align: left;" trbidi="on">
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<a href="http://www.thestar.com.my/news/nation/2013/11/07/dialysis-subsidy-drying-up-thousands-face-health-risk-as-govt-funding-is-not-approved/">The Star - 7th Nov 2013</a></div>
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KUALA LUMPUR: Thousands of kidney patients are facing a tough time as the Health Ministry has not approved subsidies for haemodialysis treatment thus far this year. Some are reported to have waited for as long as three years for the nod.</div>
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The number of approvals for the RM600 monthly subsidy began to decrease in 2011, and became minimal from mid-2012.</div>
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NGO-run haemodialysis centres said they were told by the Health Minitry to source for funds elsewhere as it was focusing on new patients.</div>
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<img alt="" src="http://www.thestar.com.my/~/media/online/2013/11/06/23/41/kidney-treatment-graphic.ashx?la=en" style="height: 815px; width: 337px;" /></div>
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They also said that some patients had waited for the subsidy approval for as long as three years, instead of the usual one to three months.</div>
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In Malaysia, the poor receive heavily subsidised dialysis treatment but due to the shortage of government-run centres many turned to those managed by non-profit NGOs.</div>
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Through these NGO-run centres they could apply for RM600 dialysis subsidy (RM50 per dialysis) per month and free injections.</div>
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A random check revealed that the National Kidney Foundation had 200 patients still waiting for subsidy, 50 patients in St John’s Pt Selangor in Klang, 40 in dialysis centres run by a religious body that declined to be named, 22 at Pontian Rotary Haemodialysis Centre, and five patients in KL Lions Renal Centre.</div>
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The actual number of the affected poor was not known but it could be in the thousands going by the estimated 5,000 new kidney patients diagnosed with end-stage kidney failure each year in the last three years.</div>
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Patients affected appear to be from NGO haemodialysis centres as those in private and government dialysis centres did not have to deal with subsidy applications.</div>
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According to the National Kidney Foundation, treatment for a patient who undergoes haemodialysis at an NGO or a private clinic costs between RM150 and RM250 per session.</div>
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The Malaysian Registry of Dialysis and Transplants said that as many as 7,088 (26.9%) end-stage renal failure patients had haemodialysis treatment at NGO centres out of 26,404 patients receiving dialysis treatment last year.</div>
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The remaining 13,159 patients (49.8%) sought treatment at private dialysis centres and 6,157 patients (23.3%) at public facilities under the Health Ministry, university hospitals and Defence Ministry hospitals.</div>
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A nurse who declined to be named said that Muslims had less issues with getting the subsidy as they could apply for aid from the Baitumal or zakat foundation.</div>
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Some NGO haemodialysis centres were not happy that the Government had pushed patients to them without providing the needed subsidy.</div>
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The halt in subsidy was also depleting the rolling fund of the centres since some NGOs help to pay for their patients’ dialysis treatments, a dialysis centre manager said.</div>
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“If they make it difficult for patients to get the subsidy, they should just get the patients to do it at government dialysis centres,” she said, adding that such centres were limited.</div>
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Roy Steven Unghttp://www.blogger.com/profile/12928919106791020914noreply@blogger.com0tag:blogger.com,1999:blog-5813541088667480118.post-44915399785187722302015-10-15T02:14:00.000-07:002015-10-15T02:15:36.111-07:00Private hospitals unable to meet criteria imposed for organ transplants<div dir="ltr" style="text-align: left;" trbidi="on">
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Source The Star: <a href="http://www.thestar.com.my/News/Nation/2015/10/15/Ruling-poses-a-problem-Illegal-kidney-trade-booms-Private-hospitals-unable-to-meet-criteria-imposed/">Private hospitals unable to meet criteria imposed for organ transplants</a></div>
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PETALING JAYA: Malaysians hoping for an organ transplant find themselves having to go overseas because private hospitals here are struggling to meet the new criteria imposed by the Health Ministry (MOH) two years ago.</div>
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Several private hospitals used to do transplant surgeries until there was a death and the ministry shut down their operations.</div>
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A new requirement is a hospital must have a dedicated transplant team.</div>
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“A transplant procedure needs a complete team, not only of transplant surgeons, but of radiologists, pathologists, and anaesthetists to provide total continuum of care to the patient,” said Ministry deputy director-general Datuk Dr Jeyaindran Sinnadurai.</div>
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“The team must also work on a regular basis, with at least two people on the team at any given time, because imagine what would happen if there is only one surgeon, and he goes on leave after operating on a patient.</div>
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“What happens if the patient suddenly has post-surgery complications?” he asked.</div>
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But it does not make financial sense to a private hospital here to have such a team because the amount of work it gets does not justify it.</div>
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As a result, the number of patients seeking kidney transplants at teaching hospital Universiti Malaya Medical Centre (UMMC) has swelled.</div>
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Making the situation worse is the fact that Hospital Universiti Kebangsaan Malaysia (HUKM) stopped its transplant programme after its surgeon left.</div>
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Although government hospitals like Hospital Kuala Lumpur (HKL) and Selayang Hospital are able to do transplant work, much of the brunt of the MOH directive has apparently fallen on UMMC as transplants have either slowed down or ceased in HKL and Selayang a few months ago.</div>
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Dr Jeyaindran said the ministry was doing its part to reduce the long waiting list for transplants by collaborative partnerships with overseas institutions to train local talent.</div>
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“We are open to private hospitals taking up organ transplant procedures, but they must fulfil the minimum criteria which was drawn up two years ago by a team of experts.”</div>
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Transplant work started in 1999 in private hospitals such as Subang Jaya Medical Centre and Gleneagles followed by Prince Court Medical Centre in 2009.</div>
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Until the clampdown in 2012, private hospitals contributed up to 19% of kidney transplantation in Malaysia, with 17% from Prince Court. However, because of the new criteria for private hospitals, patients who have previously gone to private hospitals here are now seeking help in UMMC.</div>
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Those who have the means, go to Singapore where a kidney transplant costs between S$100,000 and S$200,000. The cost has increased as a result of the weak ringgit this year.</div>
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Another option is to buy a kidney and do the surgery in China or India, which costs between RM500,000 and RM600,000 now.</div>
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Those with a ready donor will try to avoid this illegal route. The World Health Organisation estimated in 2007 that 10% of organ transplants performed worldwide involved unacceptable activities that endangered the poorest and vulnerable groups</div>
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Roy Steven Unghttp://www.blogger.com/profile/12928919106791020914noreply@blogger.com0tag:blogger.com,1999:blog-5813541088667480118.post-24944880725038074292015-06-15T19:23:00.004-07:002015-06-15T19:28:14.906-07:00Types of Insurance in Malaysia<div dir="ltr" style="text-align: left;" trbidi="on">
<span style="background-color: #eef2f7; color: #222222; font-family: Verdana, sans-serif; font-size: 12px; line-height: 19.2000007629395px;">There are few types of insurance and each serves a different purpose. </span><br />
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<span style="background-color: #eef2f7; color: #222222; font-family: Verdana, sans-serif; font-size: 12px; line-height: 19.2000007629395px;">People buy insurance is for financial protection and for risk transference.</span><br />
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<span style="background-color: #eef2f7; color: #222222; font-family: Verdana, sans-serif; font-size: 12px; line-height: 19.2000007629395px;">The risk transfer here means that by paying a fee to the insurer, the insurer in turn provides insurance cover for a particular event.</span><br />
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<span style="background-color: #eef2f7; color: #222222; font-family: Verdana, sans-serif; font-size: 12px; line-height: 19.2000007629395px;">Basically the life insurance can be segmented to the life insurance, critical illness, medical insurance & accidental insurance.</span><br />
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<span style="background-color: #eef2f7; color: #222222; font-family: Verdana, sans-serif; font-size: 12px; line-height: 19.2000007629395px;">Life insurance is meant to replace the income of the breadwinner of the family if sudden death were to occur.</span><br />
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<span style="background-color: #eef2f7; color: #222222; font-family: Verdana, sans-serif; font-size: 12px; line-height: 19.2000007629395px;">Example if the family needs at least Rm5k per month to pay for bills, food, tuition fees, clothings, that translates to Rm60k per year or Rm600k for 10 years. </span><br />
<br style="background-color: #eef2f7; color: #222222; font-family: Verdana, sans-serif;" />
<span style="background-color: #eef2f7; color: #222222; font-family: Verdana, sans-serif; font-size: 12px; line-height: 19.2000007629395px;">This doesnt even take into account the education fees if he has a young 1 yo daughter nor does it take into account the inflation.</span><br />
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<span style="background-color: #eef2f7; color: #222222; font-family: Verdana, sans-serif; font-size: 12px; line-height: 19.2000007629395px;">The purpose of the Critical Illness is to provide a lump sum of money if the person being covered is down with a critical illness.</span><br />
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<span style="background-color: #eef2f7; color: #222222; font-family: Verdana, sans-serif; font-size: 12px; line-height: 19.2000007629395px;">Example Stroke, bedridden and unable to generate an income for the family.</span><br />
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<span style="background-color: #eef2f7; color: #222222; font-family: Verdana, sans-serif; font-size: 12px; line-height: 19.2000007629395px;">This is even worse than death because on top of the daily family expenses, the family needs money for the medical bills.</span><br />
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<span style="background-color: #eef2f7; color: #222222; font-family: Verdana, sans-serif; font-size: 12px; line-height: 19.2000007629395px;">This is where the medical insurance comes in. A 60 days ICU due to Stroke at a private hospital can costs Rm400k.</span><br />
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<span style="background-color: #eef2f7; color: #222222; font-family: Verdana, sans-serif; font-size: 12px; line-height: 19.2000007629395px;">Of course the medical insurance is optional if you think the general hospital is goid enough for you. If you do buy the medical card, there is option to get treatment from second opinion. Choice is yours.</span><br />
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<span style="background-color: #eef2f7; color: #222222; font-family: Verdana, sans-serif; font-size: 12px; line-height: 19.2000007629395px;">Accidental insurance pays in the event of death due to accident or lost of limbs die to accident. </span><br />
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<span style="background-color: #eef2f7; color: #222222; font-family: Verdana, sans-serif; font-size: 12px; line-height: 19.2000007629395px;">Example if a programmer lost both of his arms due to accident, will it impact his ability to generate an income?</span></div>
Roy Steven Unghttp://www.blogger.com/profile/12928919106791020914noreply@blogger.com1George Town, Penang, Malaysia5.414921 100.329761200000015.2884575 100.16839970000001 5.5413844999999995 100.4911227tag:blogger.com,1999:blog-5813541088667480118.post-3116968826447791842015-06-09T21:29:00.000-07:002015-06-15T02:05:31.222-07:00MM2H Expats Insurance<div dir="ltr" style="text-align: left;" trbidi="on">
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<span style="background-color: white; color: #222222; font-family: 'Helvetica Neue', Arial, Helvetica, sans-serif; font-size: 13.1999998092651px; line-height: 18.4799995422363px;">Those whom are applying for the Malaysia My 2nd Home (MM2H) Program are required to purchase health insurance if they do not have a valid health insurance that works in Malaysia.</span></div>
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<span style="background-color: white; color: #222222; font-family: 'Helvetica Neue', Arial, Helvetica, sans-serif; font-size: 13.1999998092651px; line-height: 18.4799995422363px;"><br /></span></div>
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<span style="background-color: white; color: #222222; font-family: 'Helvetica Neue', Arial, Helvetica, sans-serif; font-size: 13.1999998092651px; line-height: 18.4799995422363px;">A valid health insurance in Malaysia provides hassle free admission to both the private and public hospital in times of medical emergencies.</span></div>
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<span style="background-color: white; color: #222222; font-family: 'Helvetica Neue', Arial, Helvetica, sans-serif; font-size: 13.1999998092651px; line-height: 18.4799995422363px;"><br /></span></div>
<span style="background-color: white; color: #222222; font-family: 'Helvetica Neue', Arial, Helvetica, sans-serif; font-size: 13.1999998092651px; line-height: 18.4799995422363px;">Here are some of the general guidelines for people applying for Health Insurance:-</span><br />
<span style="background-color: white; color: #222222; font-family: 'Helvetica Neue', Arial, Helvetica, sans-serif; font-size: 13.1999998092651px; line-height: 18.4799995422363px;"><br /></span>
<span style="background-color: white; color: #222222; font-family: 'Helvetica Neue', Arial, Helvetica, sans-serif; font-size: 13.1999998092651px; line-height: 18.4799995422363px;"><b><u>The Age of Applicant</u></b></span><br />
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<span style="background-color: white; font-family: 'Helvetica Neue', Arial, Helvetica, sans-serif; font-size: 13.1999998092651px; line-height: 18.4799995422363px;"><span style="color: #222222;">The Malaysian health care insurance can only be purchased by individuals whom are </span><b><span style="color: blue;">below the age of 70</span></b><span style="color: #222222;">. </span></span></div>
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<span style="background-color: white; font-family: 'Helvetica Neue', Arial, Helvetica, sans-serif; font-size: 13.1999998092651px; line-height: 18.4799995422363px;"><span style="color: #222222;"><br /></span></span></div>
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<span style="background-color: white; font-family: 'Helvetica Neue', Arial, Helvetica, sans-serif; font-size: 13.1999998092651px; line-height: 18.4799995422363px;"><span style="color: #222222;">If accepted, it is able to provide coverage until the age of 80, 90 or 100 (depending on the how long you plan to stay in Malaysia).</span></span></div>
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<span style="background-color: white; font-family: 'Helvetica Neue', Arial, Helvetica, sans-serif; font-size: 13.1999998092651px; line-height: 18.4799995422363px;"><span style="color: #222222;"><br /></span></span></div>
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<span style="background-color: white; font-family: 'Helvetica Neue', Arial, Helvetica, sans-serif; font-size: 13.1999998092651px; line-height: 18.4799995422363px;"><span style="color: #222222;">For the applicants whom are above the age of 70, your only option is to purchase International Insurance such as Bupa, Red Cross etc.</span></span></div>
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<span style="background-color: white; font-family: 'Helvetica Neue', Arial, Helvetica, sans-serif; font-size: 13.1999998092651px; line-height: 18.4799995422363px;"><span style="color: #222222;"><br /></span></span></div>
<span style="background-color: white; color: #222222; font-family: 'Helvetica Neue', Arial, Helvetica, sans-serif; font-size: 13.1999998092651px; line-height: 18.4799995422363px;"><b><u>The Health of Applicant</u></b></span><br />
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<span style="background-color: white; color: #222222; font-family: 'Helvetica Neue', Arial, Helvetica, sans-serif; font-size: 13.1999998092651px; line-height: 18.4799995422363px;">a. Applications that can be approved - Healthy with no known pre-existing medical condition</span></div>
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<span style="color: #222222; font-family: Helvetica Neue, Arial, Helvetica, sans-serif;"><span style="background-color: white;"><span style="font-size: 13.1999998092651px; line-height: 18.4799995422363px;"><br /></span></span></span></div>
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<span style="color: #222222; font-family: Helvetica Neue, Arial, Helvetica, sans-serif;"><span style="background-color: white;"><span style="font-size: 13.1999998092651px; line-height: 18.4799995422363px;">b. Applications that may be considered - Borderline cases (Blood pressure, cholesterol, depending on the Doctor's findings) </span></span></span></div>
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<span style="color: #222222; font-family: Helvetica Neue, Arial, Helvetica, sans-serif;"><span style="background-color: white; font-size: 13.1999998092651px; line-height: 18.4799995422363px;"><br /></span></span></div>
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<span style="color: #222222; font-family: Helvetica Neue, Arial, Helvetica, sans-serif;"><span style="background-color: white; font-size: 13.1999998092651px; line-height: 18.4799995422363px;">c. Applications that may be declined - Diabetic patients, Severe obesity, Cancer patient, kidney dialysis patient</span></span></div>
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<span style="color: #222222; font-family: Helvetica Neue, Arial, Helvetica, sans-serif;"><span style="background-color: white; font-size: 13.1999998092651px; line-height: 18.4799995422363px;"><br /></span></span></div>
<div style="text-align: justify;">
<span style="color: #222222; font-family: Helvetica Neue, Arial, Helvetica, sans-serif;"><span style="background-color: white; font-size: 13.1999998092651px; line-height: 18.4799995422363px;">To read the Frequently Asked Questions (FAQ) on the MM2H Insurance Application, please Click <a href="http://insuranceinfomalaysia.blogspot.com/p/expats-health-coverage-faq.html"><< HERE>></a></span></span><br />
<span style="color: #222222; font-family: Helvetica Neue, Arial, Helvetica, sans-serif;"><br /></span>
<span style="background-color: #eeeeee; color: #515151; font-family: Helvetica, Arial, sans-serif; font-size: 20.4088897705078px; line-height: 24.3244457244873px; text-align: start;">The 'medical card' as term by locals will allow the insured to get treated at their panel clinic/hospitals in Malaysia based on the agreed amount being insured.</span><br style="background-color: #eeeeee; box-sizing: border-box; color: #515151; font-family: Helvetica, Arial, sans-serif; font-size: 20.4088897705078px; line-height: 24.3244457244873px; text-align: start;" /><br style="background-color: #eeeeee; box-sizing: border-box; color: #515151; font-family: Helvetica, Arial, sans-serif; font-size: 20.4088897705078px; line-height: 24.3244457244873px; text-align: start;" /><span style="background-color: #eeeeee; color: #515151; font-family: Helvetica, Arial, sans-serif; font-size: 20.4088897705078px; line-height: 24.3244457244873px; text-align: start;">Whenever people shop for a medical card, mostly people are incline to only look at the cost and the coverage being offered while forgo some of the most important aspect, which is the policy contract. </span><br style="background-color: #eeeeee; box-sizing: border-box; color: #515151; font-family: Helvetica, Arial, sans-serif; font-size: 20.4088897705078px; line-height: 24.3244457244873px; text-align: start;" /><br style="background-color: #eeeeee; box-sizing: border-box; color: #515151; font-family: Helvetica, Arial, sans-serif; font-size: 20.4088897705078px; line-height: 24.3244457244873px; text-align: start;" /><span style="background-color: #eeeeee; color: #515151; font-family: Helvetica, Arial, sans-serif; font-size: 20.4088897705078px; line-height: 24.3244457244873px; text-align: start;">Do take the time to study the contract and in insurance, anything that sounds too flowery we need to raise our alarm to inquire more. One of the most important aspect is the renew-ability. For example, plans that are renewed annually vs life insurance with medical rider. </span><br style="background-color: #eeeeee; box-sizing: border-box; color: #515151; font-family: Helvetica, Arial, sans-serif; font-size: 20.4088897705078px; line-height: 24.3244457244873px; text-align: start;" /><br style="background-color: #eeeeee; box-sizing: border-box; color: #515151; font-family: Helvetica, Arial, sans-serif; font-size: 20.4088897705078px; line-height: 24.3244457244873px; text-align: start;" /><span style="background-color: #eeeeee; color: #515151; font-family: Helvetica, Arial, sans-serif; font-size: 20.4088897705078px; line-height: 24.3244457244873px; text-align: start;">Most of the plans that are annually renewed are port-folio renewal whilst plans with life insurance with medical riders. Under the port-folio renewal, if the claims are getting too excessive, it gives the insurer the right to remove the product from the market but they are required to honor the coverage until the end of the term (which is one year). </span><br style="background-color: #eeeeee; box-sizing: border-box; color: #515151; font-family: Helvetica, Arial, sans-serif; font-size: 20.4088897705078px; line-height: 24.3244457244873px; text-align: start;" /><br style="background-color: #eeeeee; box-sizing: border-box; color: #515151; font-family: Helvetica, Arial, sans-serif; font-size: 20.4088897705078px; line-height: 24.3244457244873px; text-align: start;" /><span style="background-color: #eeeeee; color: #515151; font-family: Helvetica, Arial, sans-serif; font-size: 20.4088897705078px; line-height: 24.3244457244873px; text-align: start;">Removing of a product from the market will means that should you need to get covered the next year, you will be subjected to undergo the health check as you are buying a new product. This is not a problem if we are still healthy, and if not the coverage may be declined.</span><br style="background-color: #eeeeee; box-sizing: border-box; color: #515151; font-family: Helvetica, Arial, sans-serif; font-size: 20.4088897705078px; line-height: 24.3244457244873px; text-align: start;" /><br style="background-color: #eeeeee; box-sizing: border-box; color: #515151; font-family: Helvetica, Arial, sans-serif; font-size: 20.4088897705078px; line-height: 24.3244457244873px; text-align: start;" /><span style="background-color: #eeeeee; color: #515151; font-family: Helvetica, Arial, sans-serif; font-size: 20.4088897705078px; line-height: 24.3244457244873px; text-align: start;">Some insurer also have dodgy contracts with "Alteration Clause" whereby if the claims gets too much, it gives the insurer the right to change the benefit structures of the insurance plans by giving the client a 90 days written notice. Do look out for the word "Alteration Clause". Do not be surprise that it exists in some of the top insurer in Malaysia.</span><br style="background-color: #eeeeee; box-sizing: border-box; color: #515151; font-family: Helvetica, Arial, sans-serif; font-size: 20.4088897705078px; line-height: 24.3244457244873px; text-align: start;" /><br style="background-color: #eeeeee; box-sizing: border-box; color: #515151; font-family: Helvetica, Arial, sans-serif; font-size: 20.4088897705078px; line-height: 24.3244457244873px; text-align: start;" /><span style="background-color: #eeeeee; color: #515151; font-family: Helvetica, Arial, sans-serif; font-size: 20.4088897705078px; line-height: 24.3244457244873px; text-align: start;">The Malaysian class health insurance policy does not cover dental (unless it was necessitated by an accidental injury)/cosmetic surgeries. This is across the board for all insurer in Malaysia as it is regulated by Bank Negara Malaysia.</span><br style="background-color: #eeeeee; box-sizing: border-box; color: #515151; font-family: Helvetica, Arial, sans-serif; font-size: 20.4088897705078px; line-height: 24.3244457244873px; text-align: start;" /><br style="background-color: #eeeeee; box-sizing: border-box; color: #515151; font-family: Helvetica, Arial, sans-serif; font-size: 20.4088897705078px; line-height: 24.3244457244873px; text-align: start;" /><span style="background-color: #eeeeee; color: #515151; font-family: Helvetica, Arial, sans-serif; font-size: 20.4088897705078px; line-height: 24.3244457244873px; text-align: start;">The costs for dental is rather cheap though. Do read on the "Exclusions" of what is not covered which is available in most of the insurer's brochure. Pre-existing/congenital illness is not covered.</span><br style="background-color: #eeeeee; box-sizing: border-box; color: #515151; font-family: Helvetica, Arial, sans-serif; font-size: 20.4088897705078px; line-height: 24.3244457244873px; text-align: start;" /><br style="background-color: #eeeeee; box-sizing: border-box; color: #515151; font-family: Helvetica, Arial, sans-serif; font-size: 20.4088897705078px; line-height: 24.3244457244873px; text-align: start;" /><span style="background-color: #eeeeee; color: #515151; font-family: Helvetica, Arial, sans-serif; font-size: 20.4088897705078px; line-height: 24.3244457244873px; text-align: start;">There is also a 30 days "Waiting Period" for common ailment like flu and fever. There after, there is also another 120 days for "Specified Illness". For accidental cases the coverage is immediate upon policy acceptance.</span><br style="background-color: #eeeeee; box-sizing: border-box; color: #515151; font-family: Helvetica, Arial, sans-serif; font-size: 20.4088897705078px; line-height: 24.3244457244873px; text-align: start;" /><br style="background-color: #eeeeee; box-sizing: border-box; color: #515151; font-family: Helvetica, Arial, sans-serif; font-size: 20.4088897705078px; line-height: 24.3244457244873px; text-align: start;" /><span style="background-color: #eeeeee; color: #515151; font-family: Helvetica, Arial, sans-serif; font-size: 20.4088897705078px; line-height: 24.3244457244873px; text-align: start;">The last entry age for anyone to get health insurance (which is able to provide cover till the age 100) is before your age 70 next birthday. The most important factor that the insurer consider is the health status of the person being insured prior to approving of the insurance.</span><br style="background-color: #eeeeee; box-sizing: border-box; color: #515151; font-family: Helvetica, Arial, sans-serif; font-size: 20.4088897705078px; line-height: 24.3244457244873px; text-align: start;" /><br style="background-color: #eeeeee; box-sizing: border-box; color: #515151; font-family: Helvetica, Arial, sans-serif; font-size: 20.4088897705078px; line-height: 24.3244457244873px; text-align: start;" /><span style="background-color: #eeeeee; color: #515151; font-family: Helvetica, Arial, sans-serif; font-size: 20.4088897705078px; line-height: 24.3244457244873px; text-align: start;">Of course in any insurance, you are required to declare albeit fully your health status, risks involve (for example smoker vs non-smoker), occupation (manual labor vs office desk job), any prior hospital admission/history, even family history. Failure to declare fully (especially on the health portion) may render the policy null and void. </span><br style="background-color: #eeeeee; box-sizing: border-box; color: #515151; font-family: Helvetica, Arial, sans-serif; font-size: 20.4088897705078px; line-height: 24.3244457244873px; text-align: start;" /><br style="background-color: #eeeeee; box-sizing: border-box; color: #515151; font-family: Helvetica, Arial, sans-serif; font-size: 20.4088897705078px; line-height: 24.3244457244873px; text-align: start;" /><span style="background-color: #eeeeee; color: #515151; font-family: Helvetica, Arial, sans-serif; font-size: 20.4088897705078px; line-height: 24.3244457244873px; text-align: start;">The bill will be paid directly from the insurance company to the hospital </span><span style="background-color: #eeeeee; box-sizing: border-box; color: #081bf6; font-family: Helvetica, Arial, sans-serif; font-size: 20.4088897705078px; line-height: 24.3244457244873px; text-align: start;">except for small hospital deposits, pre & post hospitalization and outpatient claims</span><span style="background-color: #eeeeee; color: #515151; font-family: Helvetica, Arial, sans-serif; font-size: 20.4088897705078px; line-height: 24.3244457244873px; text-align: start;"> which is based on reimbursement basis.</span><br style="background-color: #eeeeee; box-sizing: border-box; color: #515151; font-family: Helvetica, Arial, sans-serif; font-size: 20.4088897705078px; line-height: 24.3244457244873px; text-align: start;" /><br style="background-color: #eeeeee; box-sizing: border-box; color: #515151; font-family: Helvetica, Arial, sans-serif; font-size: 20.4088897705078px; line-height: 24.3244457244873px; text-align: start;" /><span style="background-color: #eeeeee; color: #515151; font-family: Helvetica, Arial, sans-serif; font-size: 20.4088897705078px; line-height: 24.3244457244873px; text-align: start;">Do note that as a foreigner your cover is only applicable in Malaysia. Treatment must be sought in Malaysia. Should you need to travel for a short duration, you'll need to get travel insurance with medical.</span><br style="background-color: #eeeeee; box-sizing: border-box; color: #515151; font-family: Helvetica, Arial, sans-serif; font-size: 20.4088897705078px; line-height: 24.3244457244873px; text-align: start;" /><br style="background-color: #eeeeee; box-sizing: border-box; color: #515151; font-family: Helvetica, Arial, sans-serif; font-size: 20.4088897705078px; line-height: 24.3244457244873px; text-align: start;" /><span style="background-color: #eeeeee; color: #515151; font-family: Helvetica, Arial, sans-serif; font-size: 20.4088897705078px; line-height: 24.3244457244873px; text-align: start;">However, as a local buying a Malaysian class policy, coverage for overseas is also limited to 90 days. During that 90 days, they will have to pay and with the original receipt claim from the insurance company when they return to Malaysia. After the 90 days, they will have to get the treatment in Malaysia.</span></div>
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Roy Steven Unghttp://www.blogger.com/profile/12928919106791020914noreply@blogger.com0George Town, Penang, Malaysia5.414921 100.329761200000015.2884575 100.16839970000001 5.5413844999999995 100.4911227tag:blogger.com,1999:blog-5813541088667480118.post-61825076595909918322015-06-08T07:30:00.001-07:002015-06-09T20:46:39.707-07:00Private Hospital ICU Costs<div dir="ltr" style="text-align: left;" trbidi="on">
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Many people does not know that for Intensive Care Unit (ICU) cases, the medical bills can be rather staggering, shocking even!</div>
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Spoken to a prospect that has a friend admitted to a private hospital due to Stroke, for 60 days in the ICU.</div>
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The hospital bill was well over Rm400,000!</div>
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Do check your health insurance on whether it is able to work in times of crisis.</div>
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You may also look at PruValue Med, which offers up to Rm2,000,000 medical coverage.</div>
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Leave a message if you need a quote.</div>
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Roy Steven Unghttp://www.blogger.com/profile/12928919106791020914noreply@blogger.com0George Town, Penang, Malaysia5.414921 100.329761200000015.2884575 100.16839970000001 5.5413844999999995 100.4911227tag:blogger.com,1999:blog-5813541088667480118.post-38177171892190349542015-05-26T23:02:00.001-07:002015-06-09T20:48:25.171-07:00Common problems when applying for Health Insurance<div dir="ltr" style="text-align: left;" trbidi="on">
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In this article, I would like to talk about the common problems people faced when applying for health insurance and it could be useful to determine which product to go for.</div>
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The most common problem faced is the health issue, especially at older age. Hypertension (high blood pressure), raised sugar level, raised cholesterol level are common for a person above 45 of age. </div>
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For borderline cases and under control with medications, the application may be considered albeit with a loading (extra premium) applied.</div>
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Alternatively the applicant (for borderline hypertensive and under control with medication) may also consider PruSenior med health insurance which comes with RM3,000 co-insurance. </div>
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Since it comes with a RM3,000 co-insurance (or commonly known as excess), there will not be a loading or exclusion. However the decision on whether to accept the case will be subjected to full Underwriting.</div>
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Another problem could be due to a "pre-existing illness". The pre-existing illness is specifically excluded in most of the Malaysian insurer. </div>
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If a person has a pre-existing illness prior to inception of the policy, for example, a knee pain, the knee pain condition will be specifically excluded and/or with loading implied.</div>
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This is why where possible, get a medical card with high limit so that you do not need to 'upgrade' or buy a new policy as add-on in later years. Do checkout PruValue med with a RM1,000,000 ~ RM2,000,000 coverage.</div>
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Lastly as we get older the insurance charges increases may undermine our budget. Plan the insurance early (of course you pay longer but at least you are able to get insured without any loading/exclusions!)</div>
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Leave a comment if you need further information. Thank you for reading</div>
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Roy Steven Unghttp://www.blogger.com/profile/12928919106791020914noreply@blogger.com0George Town, Penang, Malaysia5.414921 100.329761200000015.2884575 100.16839970000001 5.5413844999999995 100.4911227tag:blogger.com,1999:blog-5813541088667480118.post-35388992358792931822015-03-16T10:12:00.006-07:002015-06-12T12:00:04.498-07:00Cancer & High Drug Prices<div dir="ltr" style="text-align: left;" trbidi="on">
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Of Cancer & High Drug Prices - The Star <span style="background-color: white; color: #999999; font-family: Arial, Tahoma, sans-serif; font-size: 11px; line-height: 20px;">(Monday March 3, 2014 MYT 12:00:00 AM)</span></h3>
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<span style="background-color: white; color: #444444; font-family: Arial, Tahoma, Helvetica, sans-serif; font-size: 16px; line-height: 23px;">"This brings us back to the high price of cancer medicines, and the TPP negotiations. There are increasing complaints that many new cancer drugs are much too expensive, usually more than <b>US$100,000 (RM327,750)</b> for a course of treatment for a patient."</span></div>
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<span style="background-color: white; color: #444444; font-family: Arial, Tahoma, Helvetica, sans-serif; font-size: 16px; line-height: 23px;">Full Story from The Star <a href="http://www.thestar.com.my/Opinion/Columnists/Global-Trends/Profile/Articles/2014/03/03/Of-cancer-and-high-drug-prices/"><< HERE >></a></span></div>
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Roy Steven Unghttp://www.blogger.com/profile/12928919106791020914noreply@blogger.com0George Town, Penang, Malaysia5.414921 100.329761200000015.2884575 100.16839970000001 5.5413844999999995 100.4911227tag:blogger.com,1999:blog-5813541088667480118.post-28264642222287893182015-03-09T20:08:00.000-07:002015-03-09T20:12:42.639-07:00How to choose health insurance or medical card?<div dir="ltr" style="text-align: left;" trbidi="on">
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Insurance always comes at a costs and there is no <i>best</i> insurance so to speak. Most importantly, buy by your own budget and not the agent's budget as insurance is a lifetime commitment. </div>
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You may gradually increase the coverage as your income improves. However do note that you can only upgrade the plan if your health permits.</div>
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There are few things that the readers may need to be aware, especially when choosing a medical card, for a <i>lifetime</i> protection.</div>
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<b><u>Annual Limit</u></b></div>
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The annual limit is more important than the lifetime limit as it denotes how much a person can claim in a policy year. A 30 days Intensive Care Unit (ICU) due to coma or stroke in a private hospital can costs RM100K or more.<br />
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If the person has RM50K annual limit, the insurer is only liable to pay up to RM50K per policy year. Another RM50K will have to be paid by the policy holder.<br />
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Suppose the person buys a medical card at age 20 with an annual limit of RM50K. The question is, would the amount of RM50K is still relevant when the person is age 50?<br />
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<b>Tip</b>: Look for plans that does not have any Annual Limit or at least waive the annual limit, to plan ahead.</div>
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<li><u><b>Lifetime Limit</b></u><div style="text-align: justify;">
The Lifetime Limit is the limit that the policy holder can claim. Once the lifetime limit has been exceeded, the medical plan will cease coverage.<br />
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<b>Tip</b>: Where possible, look for plans that does not have lifetime limit or at least plans that are able to cater for the next 5-10 years medical inflation.</div>
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<li><u><b>Cancer Treatment & Kidney Dialysis</b></u><div style="text-align: justify;">
Not many are aware that for Cancer Treatment or Kidney Dialysis is an OUTPATIENT procedure. This means that the client is needed to pay first and claim later.</div>
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<b>Tip</b>: Check if the plan covers <i>TAKE HOME DRUGS, LONG TERM MEDICATION & CONSULTATION CHARGES. </i>It is rather pointless to have a high annual/lifetime limit if it excludes the take home drugs, long term medication & consultation charges, no?<br /></div>
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<span style="text-align: left;"><u><b>Full Claim, Co-Insurance & Deductible</b></u>Get accustomed to whether the plan is able to be claim in full, or you will have to pay certain excess.<br /><br /><b>Tip</b>: Do not be put off with plans that needs the client to pay excess. As you may already know having the insurer to bear all the risk means transferring higher risk to the insurer. By agreeing to pay the excess, the policy holder is transferring lesser risk to the insurer, hence a lower insurance charges will be imposed.<br /><br />It is not everyday that one needs to be admitted and if the policy holder is able to absorb more (during hospitalization), it will help to save on the insurance charges resulting in lower insurance premium. <br /><br />In short, <span style="color: red; font-weight: bold;">plans that are full claim, the policy holder is already paying the 'excess' upfront.</span></span></div>
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<li><u><b>Guaranteed Renewal</b></u><div style="text-align: justify;">
Always check to ensure that the plan is NON-CANCELLABLE, irrespective of how much has been claimed (as long as the policy holder does not exceed the lifetime limit).</div>
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<li><u><b>Covered Term (70, 80, 90 or 100?)</b></u><div style="text-align: justify;">
If possible, try to get covered until age 80 or more (if you are able to afford).<br />
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The retirement age in Malaysia is generally at age 60, whereby one will lose the company health insurance coverage and one will have to rely on their own personal medical card. </div>
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<b>Tip</b>: The annual & lifetime limit plays an important role as we do not want to be 'medically bought out' once we are retired with no company medical coverage.<br />
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Do note that the insurance charges will increase as we get older. The premium will also needs to be paid until the end of the tenure. Hence it is vital to plan ahead for some savings in order to pay off the higher insurance charges at later years.</div>
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<li><b style="text-decoration: underline;">Insurance Charges</b><br /><div style="text-align: justify;">
Insurance is about risk transference or risk sharing. Let it be known that the insurance charges is relative to the 'risk' being insured and <i>the insurance charges will increase as we get older</i>.</div>
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The insurance charges is NOT GUARANTEED and in general the insurer reserves the right to increase the insurance charges should the claims for that plan exceeds its threshold.</div>
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<b>Tip</b>: Therefore, plan upfront and be prepared to fork out more as the insurance charges increases. For plans that has cash value, do get to know how much cash values is in the policy.</div>
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Remember, as we get older, and with illnesses slowly creeping it, it will be harder to upgrade/extend the coverage</div>
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Roy Steven Unghttp://www.blogger.com/profile/12928919106791020914noreply@blogger.com0tag:blogger.com,1999:blog-5813541088667480118.post-39168870096830048412015-03-08T06:40:00.002-07:002015-03-08T06:40:16.431-07:00The Star: Insurance fees to go up by 6%<div dir="ltr" style="text-align: left;" trbidi="on">
<a href="http://www.thestar.com.my/News/Nation/2015/03/08/Insurance-fees-to-go-up-by-6-Exempt-necessity-policies-Govt-urged/"><< Full Story Here >></a><br />
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PETALING JAYA: Staying healthy will cost even more as medical insurance fees, charges and premiums, go up next month.</div>
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Although life insurance is exempted from the Goods and Services Tax (GST), policyholders must pay at least 6% more for medical and health-related insurance coverage.</div>
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The National Association of Malaysian Life Insurance Fieldforce and Advisers has appealed to the Government to exempt “necessity policies” covering hospitalisation and critical illnesses from the GST.</div>
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Otherwise, many may surrender their policies or lapse in their premium payments, said its president Victor Kho Chui Ing.</div>
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“GST will be an additional cost for individual policies that are coming up for renewal.</div>
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“If a family of five with a medical policy pay a total of RM7,500 per annum, the additional cost to them would amount to RM450 yearly.”</div>
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He said many prospective clients and those planning on topping up their existing policies had adopted a “wait-and-see” attitude.</div>
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“They want to gauge the GST impact on their finances first because the new tax applies not only to insurance but to most of their daily expenses,” Kho said.</div>
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He warned that it was crucial for policyholders to understand that GST would impact all traditional and investment-linked policies which had medical, critical illness or personal accident benefits attached.</div>
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For traditional policies, the GST is imposed on the premium. For investment-linked policies, it is charged on the insurance charges.</div>
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For investment-linked policies, insurance charges escalated with age because of higher insurance charges, he said.</div>
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“For example, at age 35, insurance charges for the medical benefit alone is about RM422. At age 65, it rises to almost RM2,500 – exceeding the RM1,176 annual premium paid for the medical coverage alone,” he said, adding that some policyholders above age 60 might pay up to RM5,000 in annual insurance charges.</div>
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“With a 6% GST imposed on insurance charges, many senior citizens may potentially lose their coverage or need to top up premiums to sustain their coverage.”</div>
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Kho urged policy holders to check their policy statements regularly.</div>
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“For investment-linked policies, the annual premium may not increase as the GST and insurance charges are deducted from the policy’s cash value, thus eroding the accumulated cash value meant for retirement, children’s education and sustaining future premiums.</div>
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“You need to keep tabs on the cash value or you may wake up at age 60 without a retirement fund.”</div>
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He said the majority of more than two million life insurance policy holders nationwide had investment-linked and traditional policies with attached medical coverage.</div>
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Life Insurance Association of Malaysia (LIAM), in a statement, said fees and charges imposed on investment-linked policies and critical illness, medical and health and personal accident premiums were subject to GST.</div>
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LIAM advised all policyholders to contact their insurance companies to find out the amount payable from April 1.</div>
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General Insurance Association of Malaysia (PIAM) chairman Chua Seck Guan said policyholders were required to pay the additional 6% as all general insurance policies were subject to GST “unless the risks are located outside Malaysia”.</div>
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“However, general insurance premiums will remain the same,” he said.</div>
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A Prudential Assurance Malaysia Berhad spokesman said there was no GST for life insurance products like endowment, child, education and annuity.</div>
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Roy Steven Unghttp://www.blogger.com/profile/12928919106791020914noreply@blogger.com0tag:blogger.com,1999:blog-5813541088667480118.post-77937340466451440732015-03-06T19:45:00.002-08:002015-03-06T19:45:50.327-08:00Insurance Charges (Cost of Insurance)<div dir="ltr" style="text-align: left;" trbidi="on">
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To the readers of this blog, you may already know that insurance is a business of Risk Transfer or Risk Sharing (Takaful Concept).</div>
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The risks can be categorized into a few category:-</div>
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<i>1. The <b>age</b> of the person (the older the person, the higher risk of claiming)</i></div>
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<i>2. Smoking status (a smoker has higher chances of developing smoking related illness) </i> </div>
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<i>3. Occupation (a construction worker posses different risk as compared to an office worker)</i></div>
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<i>4. Gender (based on mortality rate)</i></div>
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<i>5. Health Status of the person (a loading or extra charges may apply, for example mild hypertension)</i></div>
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By agreeing to pay a 'price' known as 'premium' the insurer in turn shall provide the financial assistance (coverage) in times of unexpected events such as untimely Death, Dread Disease (Critical Illness), Accidents, Total Disability & Hospitalization.</div>
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The coverage given comes with a costs based on the attained risk (as mentioned above) and not known to many, the costs (Insurance Charges) will INCREASE as we get older.</div>
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The next time you are given the Sales Illustration, do try to read and understand the associated charges and not only based on the 'flowery' sales talk by the agents.</div>
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Roy Steven Unghttp://www.blogger.com/profile/12928919106791020914noreply@blogger.com0tag:blogger.com,1999:blog-5813541088667480118.post-35289490176647923822015-02-23T03:32:00.001-08:002015-02-24T05:12:54.894-08:00<div dir="ltr" style="text-align: left;" trbidi="on">
<span style="font-size: x-large;">Introducing <span style="color: red;">PRU</span>access...</span><br />
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Need help to find the nearest hospital near your area?<br />
<br />
Want to more which hospital have in-house specialist?<br />
<br />
Click <a href="https://www2.prudential.com.my/corp/prudential_en_my/myprudential/medicalcardservices/PRUaccess/index.html"><<HERE>></a> to Download PRUaccess today, available on GooglePlay, AppStore & Windows Phone </div>
Roy Steven Unghttp://www.blogger.com/profile/12928919106791020914noreply@blogger.com0tag:blogger.com,1999:blog-5813541088667480118.post-23896723026140192162015-01-28T01:16:00.002-08:002015-06-12T12:02:07.538-07:00<div dir="ltr" style="text-align: left;" trbidi="on">
<b>Introducing PRUvalue med - A <span class="Apple-style-span" style="color: red;">REVOLUTIONARY</span> Medical Plan from <span class="Apple-style-span" style="color: red;">PRUDENTIAL</span></b><br />
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<a href="https://www.youtube.com/watch?v=WDU8ePQrizU"><< Click HERE to view a VIDEO on PRUvalue med >></a></div>
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<b>1. Choose the Med Value Point (MVP) Coverage from RM1m, RM1.5m or RM2m. </b><br />
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For claims within the MVP, Prudential will cover in full. For every Ringgit that exceeded the MVP, Prudential will still pays 80% of the bill, while you only pay 20% of the bill<br />
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<b>2. No Annual Limit (NEW), </b>providing a peace of mind against Future Medical Inflation<br />
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<b>3. The 1st Medical Plan that offers up to 11 Maternity Complications (NEW) - U</b>p to RM5,000 per year<br />
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<b>4. Intraocular Lens - </b>RM 6,000 per lifetime<br />
<b><br /></b><b>5. The 1st Medical Plan that offers Day Care Procedures, issuance of Guarantee Letter directly to the hospital (NEW). </b><br />
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<b>6. Cancer Treatment & Kidney Dialysis (NEW), Covers:-</b><br />
6.1 Take Home Drugs<br />
6.2 Long Term Medication<br />
6.3 Consultation Charges<br />
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<b>Up to 1.5x Of Med Value Point</b>!<br />
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<b>7. Option to include Med Saver </b>- a RM300 deductible plan to save on the insurance charges as we do not get admitted to the hospital frequently<br />
<b><br /></b><b>8. Comes with NON-CANCELLABLE clause and is Guaranteed To Be Renewed</b></div>
Roy Steven Unghttp://www.blogger.com/profile/12928919106791020914noreply@blogger.com0George Town, Penang, Malaysia5.414921 100.329761200000015.2884575 100.16839970000001 5.5413844999999995 100.4911227tag:blogger.com,1999:blog-5813541088667480118.post-77709864125401329902014-10-31T23:39:00.003-07:002014-10-31T23:39:39.548-07:00Insurance 101 RELOADED!<div dir="ltr" style="text-align: left;" trbidi="on">
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Insurance is meant for protection, NEVER was it meant for investments. As the word suggest, the word Insurance means 'to insure'.</div>
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In the context of Insurance, even if the plan is called Investment Linked Policy (ILP), it does NOT mean that it is for investment!</div>
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The main purpose of ILP over the traditional plan is that the premiums being paid are subjected to the performance of the underlying funds and it in turn will generate cash values over time. </div>
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Since the insurance charges will go up as we grow older, the cash values generated along the years can be utilized to pay off the higher insurance charges at older age <u>in order to maintain the policy</u>. Think of it as a form of financial planning for taking care of your insurance needs at older age.</div>
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That said, it does not perform like pure unit trust as the accumulated cash values are subjected to insurance charges when pure mutual fund is not.</div>
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If you read the proposal form you will see a very <b>clear wording in bold</b> that says that your insurance charges will go up by age. Even if your premium payment does not go up, your insurance charges will.</div>
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Insurance is a business of risk management. Based on the ascertain risk and the premium payment, the insurer agrees to 'underwrite' and provide the necessary coverage.</div>
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The risk here can be in the form of <b>age</b> (the older we get the higher the chances of us claiming), <b>smoking status</b>, <b>gender</b>, <b>occupation</b> (a construction worker has the higher chance of being involved in work prone accident vs an office worker) & <b>health status</b> during the inception of the policy.</div>
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An example is the car insurance. For cars that are over 10 years and above a loading (extra premium) may be imposed and can be as high as 100%. In addition, do note that as long as you want to drive the car, the premium will need to be paid. </div>
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On the health insurance, if the medical card is to cover a term of up to age 80, the insurance charges will also need to be paid till age 80.</div>
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Take note that I mention insurance charge, not the monthly premium.The projected insurance charges is outlined in the quotation together with the projected cash values (high and low).</div>
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As I said, the insurance charges goes up by age, for example when we are in our 30s, the insurance charges may be in the range of Rm 1500 per year. This means if we are paying a premium of Rm1800 year, it is sufficient to cover for the insurance charges. However, when we are 60-65 the insurance charges is now Rm3,000 per year!</div>
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This means our premium of RM1800 is not sufficient to cover for the insurance charges at later years. When that happens, the variance of the insurance charges will need to be deducted from your cash values accumulated throughout the years, or you will need to do a top up.</div>
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Otherwise your policy may be at risk of lapsing even before the end of the term <b>even if you are still paying the premium</b>.</div>
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Sure, some agents will say that you can opt to withdraw the accumulated cash values, <b>this is pure sales talk</b>, whereby clients always like to hear when they get money, who doesn't, right? If you were to withdraw the cash values and when the insurance charges goes up, the policy may lapse prematurely and you’ll lose the protection benefits even more earlier than expected.</div>
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Always buy insurance with PROTECTION in mind, NEVER for investments. There is no investments here in the context of insurance, only protection.</div>
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To the readers of this blog, it is sad when insurance product is being sold as investments, and it is not only being practice in insurance companies, but banks who sells insurance plans. Go up to any bank and ask for good savings plans. Most probably you’ll end up with an insurance plan that promise to give you an exorbitant returns but when you calculate the Returns Of Investments (ROI), it may even be worse than the bank Fixed Deposit Rate (FD)!.</div>
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However, if you had bought any insurance plans, my advise to you is that do not cancel the plan until you had the chance to do a review and understand what it was meant to cover for.</div>
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Whether you buy the insurance from Prudential or from other insurance company, no matter how good or bad the agent’s explanation is to you, one fact still remains, you buy it for its protection values.</div>
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Also the claims are being paid by Prudential or the insurance company, and not the agent. We are all humans, and cannot run away from serious illness. We will eventually need to seek treatment at the hospital using the medical card sooner or later. I frequent hospitals almost daily.</div>
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Having seen a sight of relieve for having a medical card cover for having a heart bypass that costs RM50k is very common. THIS IS WHAT INSURANCE IS ALL ABOUT.</div>
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Feel free to leave a questions if you have any :-</div>
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Email: <b>stevenung1971@ gmail.com </b></div>
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Hand Phone/Whatsapp: <b>016-451 5957</b></div>
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Skype: <b>roy.steven.ung</b></div>
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Roy Steven Unghttp://www.blogger.com/profile/12928919106791020914noreply@blogger.com0tag:blogger.com,1999:blog-5813541088667480118.post-52876664344731925872014-10-29T00:59:00.001-07:002014-10-29T00:59:15.324-07:00High Treatment Cost For Patients Using Insurance Cards Will Be Addressed<div dir="ltr" style="text-align: left;" trbidi="on">
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<span style="font-family: sans-serif, Arial; font-size: x-small;"><span style="line-height: 17.6040000915527px;"><a href="http://www.malaysiandigest.com/news/524990-high-treatment-cost-for-patients-using-insurance-cards-will-be-addressed.html">High Treatment Cost For Patients Using Insurance Cards Will Be Addressed</a></span></span></div>
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KUALA LUMPUR: The Health Ministry will discuss with the relevant quarters to address the problem of high medical charges on patients using insurance cards at private medical centres, the Dewan Rakyat was told today.</div>
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Health Minister Datuk Seri Dr S.Subramaniam (pix) said the relevant parties included insurance agents, private hospitals, managed care organisations and Bank Negara. He said patients should not be charged excessively as the government had set the maximum limit for professional fees, which covered for consultancy and procedures, for private medical practitioners.</div>
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"This rate has been agreed by all quarters, namely hospitals, patients and the insurance companies in line with Schedule 13 of the Private Healthcare Facilities and Services Regulation 2006," he added.</div>
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He said this in response to a question by Che Mohamad Zulkifly Jusoh (BN-Setiu) who wanted to know the high fees charge on patients using insurance cards at private hospitals and clinics compared with those who paid in cash.</div>
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Dr Subramaniam however said that the people should be aware of other charges and fees, like for accommodation, nursing procedures, equipment, laboratory tests and medicines, which were not regulated by the ministry.</div>
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He said it was the marketing power which determined the actual cost imposed on patients by medical practitioners. Therefore, he advised patients and their family members to make the necessary considerations before seeking treatment at private hospitals.</div>
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As such, he hoped a health consumer group could be set up to give view, as well as become the catalyst to monitor excessive charges by private hospitals and clinics.</div>
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<em style="border: 0px; margin: 0px; padding: 0px;">– TheSunDaily/Bernama</em><br /><em style="border: 0px; margin: 0px; padding: 0px;">http://www.thesundaily.my/news/1208780</em></div>
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Roy Steven Unghttp://www.blogger.com/profile/12928919106791020914noreply@blogger.com0tag:blogger.com,1999:blog-5813541088667480118.post-16034216084744874472014-10-29T00:57:00.003-07:002014-10-29T00:59:36.845-07:00Cost Of Private Healthcare Will Go Up<div dir="ltr" style="text-align: left;" trbidi="on">
<a href="http://www.malaysiandigest.com/news/525164-cost-of-private-healthcare-will-go-up.html">Cost Of Private Healthcare Will Go Up</a><br />
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PETALING JAYA: The Federation of Private Medical Practitioner's Associations Malaysia strongly disagreed with the statement from Deputy Finance Minister Datuk Ahmad Maslan that private hospitals and clinics have no reason to raise prices after implementation of Goods and Services Tax (GST) next year.</div>
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Its president, Dr Steven Chow, said operating expenses for private clinics will definitely increase with the GST implementation.</div>
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"While certain medicines and medical equipment are zero-rated, other parts of the supply chain for private healthcare facilities are not tax-exempt," he said in a statement.</div>
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He pointed out that private healthcare does not operate in silos and therefore it is also affected by the cost of items such as rental, water and electricity.</div>
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"Costs of medicines are only a small part of a clinic's operating costs and furthermore, only medicines on the government essential drug list are zero-rated, which does not cover the full range of medications used in private and public healthcare," he said.</div>
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Chow said while certain medical equipment are GST-exempt, they are not items that are purchased daily.</div>
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"Disposables, service and maintenance cost of these equipment and all items associated with the use of the equipment are items that are going to be affected by GST," he said.</div>
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"Despite doctor' professional fees remaining the same even after GST, the overall cost of providing the same service will go up.</div>
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"We estimate that this will be from 3% to 5%. Therefore, it is incorrect to project that cost will not go up in private clinics and hospitals," he added.</div>
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Chow said doctors are left with the option to either increase their fees or absorb any increment in their expenses following the rise in operating costs.</div>
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<em style="border: 0px; margin: 0px; padding: 0px;">- TheSunDaily</em><br />
<em style="border: 0px; margin: 0px; padding: 0px;">http://www.thesundaily.my/news/1209721</em></div>
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Roy Steven Unghttp://www.blogger.com/profile/12928919106791020914noreply@blogger.com0tag:blogger.com,1999:blog-5813541088667480118.post-26815283378606447602014-10-23T00:14:00.001-07:002014-10-23T00:14:23.695-07:00Introducing PRUcancer<div dir="ltr" style="text-align: left;" trbidi="on">
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<a href="http://www.thestar.com.my/Lifestyle/Health/2011/12/21/Life-unexpectedly/"><< Source: The Star: Life, Unexpectedly >></a></div>
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<span style="background-color: white; color: #444444; font-family: Arial, Tahoma, Helvetica, sans-serif; font-size: 17.27272605896px; line-height: 25px; text-align: start;"><i>"In Malaysia, medical costs for cancer treatment can go up to RM300,000 while kidney failure could cost you RM150,000 or more. Meanwhile, major organ transplants could amount up to RM100,000."</i></span></div>
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<h2 style="text-align: justify;">
Introducing <b><span style="color: red;">PRU</span></b>cancer</h2>
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A cancer diagnosis remains one of our greatest fears as it can affect not just us but also the people around us. However all is not lost.</div>
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Thanks to the advancement in medical science, the chances of patients recovering from the disease have increased significantly in recent years especially <u>if they are treated early</u>.</div>
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However the fight with cancer is by no means easy. It is often a long and painful battle and can wear you down emotionally and physically, not to mention the financial burden you have to cope with.</div>
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It is with this in mind that <b><span style="color: red;">PRU</span></b>cancer plan was conceived to give you and your family the hope and means to continue in your fight for recovery by concentrating on things that truly matter.</div>
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While we can’t stop cancer from happening, there is no reason why we should allow it to stop us from continuing with our lives. With <b><span style="color: red;">PRU</span></b>cancer plan, there is always hope after cancer.</div>
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<h3 style="text-align: justify;">
» <b><span style="color: red;">PRU</span></b>cancer plan offers you</h3>
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<b><i>1. Comprehensive Cancer Coverage</i></b></div>
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<b><span style="color: red;">PRU</span></b>cancer plan is a Comprehensive Cancer Coverage plan covering Cancer and Early Stage Cancer up to age 80.</div>
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<b><i>2. Sum Assured Bounce-back Feature for</i></b></div>
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Early Stage Cancer The Sum Assured bounces back to 100% after 6 months from claiming the Early Stage Cancer benefit. The Sum Assured will remain at 100% throughout the remaining tenure of the policy. Early Stage Cancer Benefit is payable once only.</div>
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<b><i>3. Guaranteed Maturity Benefit</i></b></div>
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When your policy matures, you will receive a Maturity Benefit of 100% Sum Assured! Even if you have already made a claim on Early Stage Cancer, you will still receive maturity benefit when your policy matures.</div>
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<b><i>4. Affordable Premium</i></b></div>
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The Premium is affordable!</div>
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<b><i>5. Special Underwriting</i></b></div>
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Our underwriters have specially tailored the underwriting requirements just for <b><span style="color: red;">PRU</span></b>cancer plan.</div>
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<h2 style="text-align: justify;">
<b><span style="color: red;">PRU</span></b>cancer plans</h2>
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<table border="1" cellpadding="1" cellspacing="1" style="background-color: white; color: black; font-family: arial; font-size: 12px; outline: none; width: 600px;"><thead style="outline: none;">
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<strong style="outline: none;"><span style="color: white; outline: none;"><span style="font-family: Arial; outline: none;"><span style="font-size: x-small; outline: none;">Number of Units</span></span></span></strong></div>
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<strong style="outline: none;"><span style="color: white; outline: none;"><span style="font-family: Arial; outline: none;"><span style="font-size: x-small; outline: none;">1</span></span></span></strong></div>
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<strong style="outline: none;"><span style="color: white; outline: none;"><span style="font-family: Arial; outline: none;"><span style="font-size: x-small; outline: none;">2</span></span></span></strong></div>
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<strong style="outline: none;"><span style="color: white; outline: none;"><span style="font-family: Arial; outline: none;"><span style="font-size: x-small; outline: none;">3</span></span></span></strong></div>
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<strong style="outline: none;"><span style="color: white; outline: none;"><span style="font-family: Arial; outline: none;"><span style="font-size: x-small; outline: none;">4</span></span></span></strong></div>
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<span style="font-family: Arial; outline: none;"><span style="font-size: x-small; outline: none;">Sum Assured (RM)</span></span></div>
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<span style="font-family: Arial; outline: none;"><span style="font-size: x-small; outline: none;">50,000</span></span></div>
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<span style="font-family: Arial; outline: none;"><span style="font-size: x-small; outline: none;">100,000</span></span></div>
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<span style="font-family: Arial; outline: none;"><span style="font-size: x-small; outline: none;">150,000</span></span></div>
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<span style="font-family: Arial; outline: none;"><span style="font-size: x-small; outline: none;">200,000</span></span></div>
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<strong style="outline: none;"><span style="font-family: Arial; outline: none;"><span style="font-size: x-small; outline: none;">Cancer Benefit</span></span></strong></div>
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<strong style="outline: none;"><span style="font-family: Arial; outline: none;"><span style="font-size: x-small; outline: none;">100%</span></span></strong><span style="font-family: Arial; outline: none;"><span style="font-size: x-small; outline: none;"> of Sum Assured or Total Premiums (See Note <span style="outline: none; vertical-align: text-top;">1)</span> that have been paid to date, whichever is higher.</span></span></div>
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<strong style="outline: none;"><span style="font-family: Arial; outline: none;"><span style="font-size: x-small; outline: none;">Early Stage Cancer Benefit</span></span></strong></div>
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<span style="font-size: x-small; outline: none;"><span style="font-family: Arial; outline: none;">i) Carcinoma In-Situ;</span></span></div>
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<span style="font-size: x-small; outline: none;"><span style="font-family: Arial; outline: none;">ii) Early Prostate Cancer</span></span></div>
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<span style="font-size: x-small; outline: none;"><span style="font-family: Arial; outline: none;">iii) Early Bladder Cancer; or</span></span></div>
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<span style="font-size: x-small; outline: none;"><span style="font-family: Arial; outline: none;">iv) Early Chronic Lymphocytic Leukemia</span></span></div>
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<strong style="outline: none;"><span style="font-family: Arial; outline: none;"><span style="font-size: x-small; outline: none;">25%</span></span></strong><span style="font-family: Arial; outline: none;"><span style="font-size: x-small; outline: none;"> of Sum Assured</span></span></div>
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<strong style="outline: none;"><span style="font-family: Arial; outline: none;"><span style="font-size: x-small; outline: none;">Compassionate Benefit</span></span></strong><span style="font-family: Arial; outline: none;"><span style="font-size: x-small; outline: none;"> upon death</span></span></div>
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<strong style="outline: none;"><span style="font-family: Arial; outline: none;"><span style="font-size: x-small; outline: none;">10%</span></span></strong><span style="font-family: Arial; outline: none;"><span style="font-size: x-small; outline: none;"> of Sum Assured or Surrender Value, whichever is higher</span></span></div>
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<strong style="outline: none;"><span style="font-family: Arial; outline: none;"><span style="font-size: x-small; outline: none;">Maturity Benefit</span></span></strong><span style="font-family: Arial; outline: none;"><span style="font-size: x-small; outline: none;"></span></span></div>
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<strong style="outline: none;"><span style="font-size: x-small; outline: none;">100%</span></strong><span style="font-size: x-small; outline: none;"> of Sum Assured </span></div>
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<b><i>N<span style="font-family: Arial, sans-serif; font-size: 10pt; outline: none;">ote:</span></i></b></div>
<ul style="background-color: white; font-family: arial; font-size: 12px; outline: none;">
<li style="outline: none; text-align: justify;"><span style="font-size: x-small; outline: none;"><span style="font-family: Arial, sans-serif; outline: none; text-indent: -0.25in;">Early Stage Cancer Benefit is payable once only.</span></span></li>
<li style="outline: none; text-align: justify;"><span style="font-size: x-small; outline: none;"><span style="font-family: Arial, sans-serif; line-height: 14.9499998092651px; outline: none;">If Cancer occurs within 6 months from the diagnosis date of Early Stage Cancer, the Cancer Benefit payout will be reduced by the amount paid for Early Stage Cancer Benefit. If Cancer occurs after 6 months from the diagnosis date of Early Stage Cancer, the Cancer Benefit payout will be the amount as described above.</span></span></li>
<li style="outline: none; text-align: justify;"><span style="font-size: x-small; outline: none;"><span style="font-family: Arial, sans-serif; outline: none;">This plan will terminate after a claim has been made for Cancer or Compassionate Benefit or upon maturity of the plan.</span></span></li>
<li style="outline: none; text-align: justify;"><span style="font-size: x-small; outline: none;"><span style="outline: none; vertical-align: text-top;"><span style="outline: none; text-indent: -0.25in;">(1) </span></span><span style="font-family: Arial, sans-serif; line-height: 14.9499998092651px; outline: none; text-indent: -0.25in;">Including extra premium charged on sub-standard life </span><span style="font-family: Arial, sans-serif; line-height: 14.9499998092651px; outline: none; text-indent: -0.25in;">and excluding service tax, if applicable. Total premiums that have been paid to date refer to the actual premiums paid by for this policy.</span></span></li>
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<a href="http://www2.prudential.com.my/corp/prudential_en_my/solutions/criticalillness/prucancer.html"><< Click here for PRUcancer Brochure >></a></div>
</div>
Roy Steven Unghttp://www.blogger.com/profile/12928919106791020914noreply@blogger.com0tag:blogger.com,1999:blog-5813541088667480118.post-75774158838407869262014-08-17T18:20:00.000-07:002014-08-17T18:26:46.815-07:00PRUmy Child - Pregnancy & Child Care Benefits<div dir="ltr" style="text-align: left;" trbidi="on">
<h1 style="background-color: white; clear: both; color: #ec1b2e; font-family: arial; font-size: 1.5em; font-weight: normal; margin: 8px 0px; outline: none; padding: 0px;">
Give your child a head start in life and protect him before he is born</h1>
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<span style="font-size: 10pt; line-height: 15.333332061767578px; outline: none;">Aiming to give you peace of mind, the new </span><b style="font-size: 10pt; line-height: 15.333332061767578px; outline: none;">Infant Care </b><span style="font-size: 10pt; line-height: 15.333332061767578px; outline: none;">benefit under </span><span style="color: red; outline: none;"><b style="font-size: 10pt; line-height: 15.333332061767578px; outline: none;">PRU</b></span><i style="font-size: 10pt; line-height: 15.333332061767578px; outline: none;">my child</i><span style="font-size: 10pt; line-height: 15.333332061767578px; outline: none;"> provides protection during the crucial prenatal, neonatal and post-natal periods.</span></div>
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<span style="font-size: x-small; outline: none;"><b style="outline: none;"><u style="outline: none;">Infant Care* benefits at a glance</u></b></span></div>
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<li style="outline: none;"><span style="font-size: 10pt; outline: none; text-align: justify;">Offers your child protection during the crucial pregnancy and infancy periods under the </span><b style="font-size: 10pt; outline: none; text-align: justify;">Pregnancy Care Benefit </b><span style="font-size: 10pt; outline: none; text-align: justify;">and </span><b style="font-size: 10pt; outline: none; text-align: justify;">Child Care Benefit</b><span style="font-size: 10pt; outline: none; text-align: justify;">.</span></li>
<li style="outline: none;"><span style="font-size: 10pt; outline: none; text-align: justify;">Covers </span><b style="font-size: 10pt; outline: none; text-align: justify;">Neonatal Jaundice that requires phototherapy treatment</b><span style="font-size: 10pt; outline: none; text-align: justify;"> within the first 60 days from the birth of your child.</span></li>
<li style="outline: none;"><span style="font-size: 10pt; outline: none; text-align: justify;">Covers </span><b style="font-size: 10pt; outline: none; text-align: justify;">admission into Intensive Care Unit/ High Dependency Unit</b><span style="font-size: 10pt; outline: none; text-align: justify;"> within the first year from the birth of your child, whether due to premature birth or other illnesses or conditions, for up to 60 days.</span></li>
<li style="outline: none;"><span style="font-size: 10pt; outline: none; text-align: justify;">Covers </span><b style="font-size: 10pt; outline: none; text-align: justify;">incubation</b><span style="font-size: 10pt; outline: none; text-align: justify;"> during the first 60 days after the birth of your child.</span></li>
<li style="outline: none;"><span style="font-size: 10pt; outline: none; text-align: justify; text-indent: -14.2pt;">Covers <b style="outline: none;">15 congenital conditions </b>up to your child reaching 2 years old.</span><span style="outline: none; text-align: justify;"> </span></li>
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<i style="outline: none;"><span style="font-size: 10pt; line-height: 15.333332061767578px; outline: none;">* Optional benefit subject to underwriting and additional premiums for 2 years and purchased within 18 to 35 gestational weeks.</span></i><br />
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<span style="outline: none;"><span style="font-size: 10pt; line-height: 15.333332061767578px; outline: none;"><u><b>Who can apply?</b></u></span></span><br />
<i style="outline: none;"><span style="font-size: 10pt; line-height: 15.333332061767578px; outline: none;"><span style="font-style: normal;">You can take up this plan for your unborn child as early as <b>18 weeks up until 35 weeks</b> into your pregnancy and if you are between<b> 18 to 45 years of age next birthday</b>.</span></span></i></div>
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<b style="outline: none;"><u style="outline: none;"><span style="font-size: 10pt; outline: none;">15 Covered Congenital Conditions </span></u></b></div>
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<table border="1" cellpadding="0" cellspacing="0" style="border-collapse: collapse; border: none; outline: none; width: 473px;"><tbody style="outline: none;">
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<b style="outline: none;"><span style="font-size: 10pt; line-height: 15.333332061767578px; outline: none;">Congenital Conditions Covered</span></b></div>
</td><td bgcolor="#999999" style="background: rgb(229, 184, 183); border-bottom-color: windowtext; border-bottom-width: 1pt; border-right-color: windowtext; border-right-width: 1pt; border-style: solid solid solid none; border-top-color: windowtext; border-top-width: 1pt; height: 25.25pt; outline: none; padding: 0.7pt 0.7pt 0in; width: 141.75pt;" width="189"><div style="margin: 0px; outline: none; padding: 0px;">
<b style="outline: none;"><span style="font-size: 10pt; line-height: 15.333332061767578px; outline: none;">Category</span></b></div>
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<tr style="height: 13.7pt; outline: none;"><td style="border-bottom-color: windowtext; border-bottom-width: 1pt; border-left-color: windowtext; border-left-width: 1pt; border-right-color: windowtext; border-right-width: 1pt; border-style: none solid solid; height: 13.7pt; outline: none; padding: 0.7pt 0.7pt 0in; width: 213.35pt;" width="284"><div style="margin: 0px; outline: none; padding: 0px;">
<span style="font-size: 10pt; line-height: 15.333332061767578px; outline: none;">Infantile Hydrocephalus</span></div>
</td><td rowspan="3" style="border-bottom-color: windowtext; border-bottom-width: 1pt; border-right-color: windowtext; border-right-width: 1pt; border-style: none solid solid none; height: 13.7pt; outline: none; padding: 0.7pt 0.7pt 0in; width: 141.75pt;" width="189"><div style="margin: 0px; outline: none; padding: 0px;">
<span style="font-size: 10pt; line-height: 15.333332061767578px; outline: none;"> Cerebral</span></div>
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<tr style="height: 11.25pt; outline: none;"><td style="border-bottom-color: windowtext; border-bottom-width: 1pt; border-left-color: windowtext; border-left-width: 1pt; border-right-color: windowtext; border-right-width: 1pt; border-style: none solid solid; height: 11.25pt; outline: none; padding: 0.7pt 0.7pt 0in; width: 213.35pt;" width="284"><div style="margin: 0px; outline: none; padding: 0px;">
<span style="font-size: 10pt; line-height: 15.333332061767578px; outline: none;">Cerebral palsy</span></div>
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<tr style="height: 8.05pt; outline: none;"><td style="border-bottom-color: windowtext; border-bottom-width: 1pt; border-left-color: windowtext; border-left-width: 1pt; border-right-color: windowtext; border-right-width: 1pt; border-style: none solid solid; height: 8.05pt; outline: none; padding: 0.7pt 0.7pt 0in; width: 213.35pt;" width="284"><div style="margin: 0px; outline: none; padding: 0px;">
<span style="font-size: 10pt; line-height: 15.333332061767578px; outline: none;">Spina Bifida</span></div>
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<tr style="height: 11.95pt; outline: none;"><td style="border-bottom-color: windowtext; border-bottom-width: 1pt; border-left-color: windowtext; border-left-width: 1pt; border-right-color: windowtext; border-right-width: 1pt; border-style: none solid solid; height: 11.95pt; outline: none; padding: 0.7pt 0.7pt 0in; width: 213.35pt;" width="284"><div style="margin: 0px; outline: none; padding: 0px;">
<span style="font-size: 10pt; line-height: 15.333332061767578px; outline: none;">Congenital Cataract</span></div>
</td><td rowspan="3" style="border-bottom-color: windowtext; border-bottom-width: 1pt; border-right-color: windowtext; border-right-width: 1pt; border-style: none solid solid none; height: 11.95pt; outline: none; padding: 0.7pt 0.7pt 0in; width: 141.75pt;" width="189"><div style="margin: 0px; outline: none; padding: 0px;">
<span style="font-size: 10pt; line-height: 15.333332061767578px; outline: none;"> Eyes, Ears, Nose and Throat</span></div>
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<tr style="height: 8.05pt; outline: none;"><td style="border-bottom-color: windowtext; border-bottom-width: 1pt; border-left-color: windowtext; border-left-width: 1pt; border-right-color: windowtext; border-right-width: 1pt; border-style: none solid solid; height: 8.05pt; outline: none; padding: 0.7pt 0.7pt 0in; width: 213.35pt;" width="284"><div style="margin: 0px; outline: none; padding: 0px;">
<span style="font-size: 10pt; line-height: 15.333332061767578px; outline: none;">Congenital Deafness</span></div>
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<tr style="height: 11.95pt; outline: none;"><td style="border-bottom-color: windowtext; border-bottom-width: 1pt; border-left-color: windowtext; border-left-width: 1pt; border-right-color: windowtext; border-right-width: 1pt; border-style: none solid solid; height: 11.95pt; outline: none; padding: 0.7pt 0.7pt 0in; width: 213.35pt;" width="284"><div style="margin: 0px; outline: none; padding: 0px;">
<span style="font-size: 10pt; line-height: 15.333332061767578px; outline: none;">Cleft Lip and/or Cleft Palate</span></div>
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<tr style="height: 9.45pt; outline: none;"><td style="border-bottom-color: windowtext; border-bottom-width: 1pt; border-left-color: windowtext; border-left-width: 1pt; border-right-color: windowtext; border-right-width: 1pt; border-style: none solid solid; height: 9.45pt; outline: none; padding: 0.7pt 0.7pt 0in; width: 213.35pt;" width="284"><div style="margin: 0px; outline: none; padding: 0px;">
<span style="font-size: 10pt; line-height: 15.333332061767578px; outline: none;">Ventricular Septal Defect</span></div>
</td><td rowspan="5" style="border-bottom-color: windowtext; border-bottom-width: 1pt; border-right-color: windowtext; border-right-width: 1pt; border-style: none solid solid none; height: 9.45pt; outline: none; padding: 0.7pt 0.7pt 0in; width: 141.75pt;" width="189"><div style="margin: 0px; outline: none; padding: 0px;">
<span style="font-size: 10pt; line-height: 15.333332061767578px; outline: none;"> Cardiac</span></div>
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<tr style="height: 6.25pt; outline: none;"><td style="border-bottom-color: windowtext; border-bottom-width: 1pt; border-left-color: windowtext; border-left-width: 1pt; border-right-color: windowtext; border-right-width: 1pt; border-style: none solid solid; height: 6.25pt; outline: none; padding: 0.7pt 0.7pt 0in; width: 213.35pt;" width="284"><div style="margin: 0px; outline: none; padding: 0px;">
<span style="font-size: 10pt; line-height: 15.333332061767578px; outline: none;">Tetralogy of Fallot</span></div>
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<tr style="height: 3.15pt; outline: none;"><td style="border-bottom-color: windowtext; border-bottom-width: 1pt; border-left-color: windowtext; border-left-width: 1pt; border-right-color: windowtext; border-right-width: 1pt; border-style: none solid solid; height: 3.15pt; outline: none; padding: 0.7pt 0.7pt 0in; width: 213.35pt;" width="284"><div style="margin: 0px; outline: none; padding: 0px;">
<span style="font-size: 10pt; line-height: 15.333332061767578px; outline: none;">Atrial Septal Defect</span></div>
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<tr style="height: 7.65pt; outline: none;"><td style="border-bottom-color: windowtext; border-bottom-width: 1pt; border-left-color: windowtext; border-left-width: 1pt; border-right-color: windowtext; border-right-width: 1pt; border-style: none solid solid; height: 7.65pt; outline: none; padding: 0.7pt 0.7pt 0in; width: 213.35pt;" width="284"><div style="margin: 0px; outline: none; padding: 0px;">
<span style="font-size: 10pt; line-height: 15.333332061767578px; outline: none;">Transposition of the Great Vessels</span></div>
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<tr style="height: 17.95pt; outline: none;"><td style="border-bottom-color: windowtext; border-bottom-width: 1pt; border-left-color: windowtext; border-left-width: 1pt; border-right-color: windowtext; border-right-width: 1pt; border-style: none solid solid; height: 17.95pt; outline: none; padding: 0.7pt 0.7pt 0in; width: 213.35pt;" width="284"><div style="margin: 0px; outline: none; padding: 0px;">
<span style="font-size: 10pt; line-height: 15.333332061767578px; outline: none;">Coarctation of the Aorta</span></div>
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<span style="font-size: 10pt; line-height: 15.333332061767578px; outline: none;">Oesophageal astresia</span></div>
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<span style="font-size: 10pt; line-height: 15.333332061767578px; outline: none;"> Gastro-</span></div>
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<span style="font-size: 10pt; line-height: 15.333332061767578px; outline: none;"> intestinal</span></div>
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<tr style="height: 25.85pt; outline: none;"><td style="border-bottom-color: windowtext; border-bottom-width: 1pt; border-left-color: windowtext; border-left-width: 1pt; border-right-color: windowtext; border-right-width: 1pt; border-style: none solid solid; height: 25.85pt; outline: none; padding: 0.7pt 0.7pt 0in; width: 213.35pt;" width="284"><div style="margin: 0px; outline: none; padding: 0px;">
<span style="font-size: 10pt; line-height: 15.333332061767578px; outline: none;">Trachea-oesophageal fistula</span></div>
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<tr style="height: 7.7pt; outline: none;"><td style="border-bottom-color: windowtext; border-bottom-width: 1pt; border-left-color: windowtext; border-left-width: 1pt; border-right-color: windowtext; border-right-width: 1pt; border-style: none solid solid; height: 7.7pt; outline: none; padding: 0.7pt 0.7pt 0in; width: 213.35pt;" width="284"><div style="margin: 0px; outline: none; padding: 0px;">
<span style="font-size: 10pt; line-height: 15.333332061767578px; outline: none;">Congenital Diaphargmatic Hernia</span></div>
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<tr style="height: 11.6pt; outline: none;"><td style="border-bottom-color: windowtext; border-bottom-width: 1pt; border-left-color: windowtext; border-left-width: 1pt; border-right-color: windowtext; border-right-width: 1pt; border-style: none solid solid; height: 11.6pt; outline: none; padding: 0.7pt 0.7pt 0in; width: 213.35pt;" width="284"><div style="margin: 0px; outline: none; padding: 0px;">
<span style="font-size: 10pt; line-height: 15.333332061767578px; outline: none;">Anal Atresia</span></div>
</td></tr>
</tbody></table>
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<b><u><br /></u></b>
<b><u>How the Coverage Works?</u></b><br />
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhP3aIKDi-I0WOyvtuOua1S946ZZhZkYcwlCSFTazh2QwLYisYR9xT-LXlPAkWLCjJrhr13ZLJzK8Z18yr_5AKucDGCSQtL1Do3JRN_unWUUtU71RSMYKbI8FaUe6nPEsMzPppTki27HBI/s1600/Infant_Care_Benefits_image_PMC2013.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em; text-align: center;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhP3aIKDi-I0WOyvtuOua1S946ZZhZkYcwlCSFTazh2QwLYisYR9xT-LXlPAkWLCjJrhr13ZLJzK8Z18yr_5AKucDGCSQtL1Do3JRN_unWUUtU71RSMYKbI8FaUe6nPEsMzPppTki27HBI/s1600/Infant_Care_Benefits_image_PMC2013.jpg" height="236" width="640" /></a></div>
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Roy Steven Unghttp://www.blogger.com/profile/12928919106791020914noreply@blogger.com0tag:blogger.com,1999:blog-5813541088667480118.post-44683359326594108782014-03-25T07:53:00.002-07:002014-03-25T09:46:25.698-07:00Malaysian Income Tax Declaration (Borang BE)<div dir="ltr" style="text-align: left;" trbidi="on">
<div style="text-align: justify;">
So it has come to the time of the year where Malaysians declare their income tax to the Lembaga Hasil Dalam Negeri (LHDN).</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
For those who had purchased Life Insurance with Medical, you are entitled for tax deduction of up to RM 6,000 (inclusive of Employee Provident Fund (EPF) contribution from the employee portion) & up to RM 3,000 for Medical insurance.</div>
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<br /></div>
<div style="text-align: justify;">
If you had not receive your Life Assurance Premium Statement from your insurance company, do give your agent a buzz.</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
Fill up the tax deduction based on the below picture. For life insurance, add them with the amount you had contributed to the EPF (your portion of contribution only, excluding the employer's contribution) to the "F16 Insurance nyawa dan KWSP" column.</div>
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If you have done any savings/investment plans that are eligible for income tax deduction (up to RM3,000), add them to the F17 column.</div>
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For the medical insurance, add it to the F18 column.<br />
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEi0I4o1GU6KsnWYThRHhZJFOIOPXfm3iDM-ePpunHh2G-BfenswuQdgKlkOi7eoja4IGV5-AEfZhERFe67lZwZsvjM4C1L8SM3f6sprLnT9SvvZmmWE9G2SzjgzySH1LFoiqGO2YpMfDi0/s1600/BE2013+Deduction.jpg" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEi0I4o1GU6KsnWYThRHhZJFOIOPXfm3iDM-ePpunHh2G-BfenswuQdgKlkOi7eoja4IGV5-AEfZhERFe67lZwZsvjM4C1L8SM3f6sprLnT9SvvZmmWE9G2SzjgzySH1LFoiqGO2YpMfDi0/s1600/BE2013+Deduction.jpg" height="480" width="640" /></a></div>
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Roy Steven Unghttp://www.blogger.com/profile/12928919106791020914noreply@blogger.com0tag:blogger.com,1999:blog-5813541088667480118.post-49172365752136754152014-03-12T01:49:00.000-07:002014-03-13T09:56:55.291-07:00Medical schedule shows hikes of more than 200%<div dir="ltr" style="text-align: left;" trbidi="on">
<a href="http://www.thestar.com.my/News/Nation/2014/03/06/Fees-up-and-its-dizzying-Medical-schedule-shows-hikes-of-more-than-200/">Source - The Star</a><br />
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<span style="background-color: white; color: #999999; font-family: Arial, Tahoma, sans-serif; font-size: 10.909090995788574px; line-height: 20px;">Published: Thursday March 6, 2014 MYT 12:00:00 AM </span><br style="background-color: white; color: #999999; font-family: Arial, Tahoma, sans-serif; font-size: 10.909090995788574px; line-height: 20px;" /><span style="background-color: white; color: #999999; font-family: Arial, Tahoma, sans-serif; font-size: 10.909090995788574px; line-height: 20px;">Updated: Thursday March 6, 2014 MYT 8:06:55 AM</span><br />
<span style="background-color: white; color: #999999; font-family: Arial, Tahoma, sans-serif; font-size: 10.909090995788574px; line-height: 20px;"><br /></span>
PUTRAJAYA: Private medical fees are up, but there is confusion over the exact percentage of the rise.<br />
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While the Health Minister said the increase has been capped at 14.4%, – less than half the amount the Malaysian Medical Association had requested – the medical schedule showed hikes of a more than 200% on certain fee ceilings.<br />
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Consultation fees, for instance, increased from a range of RM10-RM35 to a new range of RM30-RM125. Health Minister Datuk Seri Dr S. Subramaniam, however, said the fees were the maximum amount that doctors were allowed to charge and they were free to charge less.“Those (in the fee schedule) are the maximum rates.<br />
<br />
We are protecting the people from being charged exorbitantly by the private sector,” he said here yesterday. Dr Subramaniam said the ministry had rejected the Malaysian Medical Association’s request for a 30% increase. He added that the 14.4% increase was reasonable given that the inflation rate was around 23%.<br />
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On Monday, an online news portal highlighted that an amendment to the 13th Schedule of the Private Healthcare Facilities and Services Act 1998 had been implemented in a hush manner.<br />
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The Private Hospitals and Other Private Healthcare Facilities Regulations 2006 of the Act, which was published in the federal gazette on Dec 16 last year, provides for the maximum chargeable fees for registered medical and dental practitioners practising in private hospitals in terms of their professional fees such as consultation and performance of procedures.<br />
<br />
These fees were based on Malaysian Medical Association (MMA) Schedule of Fees 4th Edition 2002. Dr Subramaniam also said that the previous minister Datuk Seri Liow Tiong Lai did keep the public informed of the increase in July 2012 and the fee schedule was brought to the Cabinet and approved on October 12 the same year after consulting various stakeholders.<br />
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The Ministry directed to review the fee schedule in Sept 2010.He was asked why the new fee schedule was not made public when it was concluded or gazetted. Health director-general Datuk Dr Noor Hisham Abdullah explained that the 14.4% increase was the average fees for surgical and dental procedures.<br />
<br />
He said the doctors’ consultation charges that was increased from a range of RM10-RM35 to a new range of RM30-RM125 took into account of the rental costs in different locations.<br />
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Dr Subramaniam said the market forces were expected to determine the fees.“The people are encouraged to be prudent and discerning and seek treatment at private facilities charging reasonable rates,” he said.<br />
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The other components of the hospital charges such as fees for accommodation, laboratory investigations, nursing care, use of equipment, operation room and drugs used were not regulated due to the varying costs in operating and maintaining a private hospital in different areas, he said.<br />
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The new medical fees schedule is the first revision since it was regulated in 2006. The fees had been recommended by the MMA since 2002, he said.</div>
Roy Steven Unghttp://www.blogger.com/profile/12928919106791020914noreply@blogger.com0tag:blogger.com,1999:blog-5813541088667480118.post-49682464615501289952013-12-15T18:17:00.003-08:002013-12-16T19:58:38.047-08:00Tips on saving on insurance premium<div dir="ltr" style="text-align: left;" trbidi="on">
Should a person spend on average RM200/mth on insurance, in 10 years of paying the premium he/she would have contributed RM 24K.<br />
<br />
Assuming a person takes up insurance at the age of 25, at age 60 (retirement age) he/she would have paid RM 84,000!<br />
<br />
Do note that the <i>premium payment does not stop at age 60,</i> as the client is required to pay, even after retirement if he/she wants to keep getting protected, especially the medical insurance.<br />
<br />
So what are the ways to save on insurance premium? Well, first lets take a look at how insurance works.<br />
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Insurance is a business of risk transference. Whenever someone does not buy insurance, he/she is having 100% of the financial risk against human events such as hospitalization bills, death, total disability, critical illness.<br />
<br />
By transferring the risk to the insurance company, and the client agrees to pay certain 'fee' called insurance charges, the insurance company in turn agrees to 'insure' the client against financial losses due to the said event as stipulated in the contract.<br />
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The first trick in order to save on premium is transfer 'lesser' risk to the insurer. In insurance term, it is called 'deductibles' or 'co-insurance'. Westerners call it 'excess'.<br />
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Also known as 'cost-sharing-concept' by the insurance company whereby the client agrees to share the bill, more often something that is 'affordable' to the client.<br />
<br />
For co-insurance, there are various plans that offers different level of cost sharing.<br />
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<ol style="text-align: left;">
<li><b>As inpatient </b>(meaning if the client is admitted to the hospital): <i>A minimum RM 300 or 10% and up to a maximum of RM 1,000 </i><i>co-insurance shall apply</i><i>.</i></li>
<li><b>As outpatient</b> (meaning if the client is not admitted to the hospital): <i>A 10% and up to a maximum of RM 2,000 co-insurance shall apply.</i></li>
</ol>
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<div>
For deductible, there are options of RM 3,000, RM 10,000, RM 300 deductible.</div>
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By incorporating various cost sharing concept, the client is transferring lesser risk to the insurance. Plans with co-insurance or deductible is definitely much more cheaper than plans with full claims.<br />
<br />
The thing is, most of us hate to go to hospitals. I would say that no sane person would want to go to the hospital (<i>except for insurance agents because it is our job to do so!</i>) and in our lifetime, we would only probably go 2-3 times for something major.<br />
<br />
Hence plans that are offering full cover may sound nice but the fact is, you are already paying the higher premium of which the 'co-insurance' or 'deductible' has already been incorporated.<br />
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So guys, do take a look at the various deductible or co-insurance before inking on the lifetime insurance contract.</div>
Roy Steven Unghttp://www.blogger.com/profile/12928919106791020914noreply@blogger.com1