Your Questions Answered Here › Medical Card and Life Insurance
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Khek Yang Tay asked 3 years ago

Hi,

I would like to find out what's the best value medical card and life insurance combination - and would like proceed with such a plan within the next 1 month or so.

  1. Medical card with 30K deductible
  2. Life Insurance - Ideally - coverage of RM800K

Current age 39, Adult Male. Non-smoker

Thanks!

5 Answers
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ERIKA Staff answered 3 years ago

Hi Tay, what is your exact DoB and occupation?

Do you need to medical card to auto-convert to 0 deductible (full medical card) at age 60 or you are OK with this 30k deductible/year even after 60 yo?

How long (or until what age) you need the 800k Life insurance?

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Khek Yang Tay answered 3 years ago

DoB - 1984/11/22

Occupation - Manager of IT Telco Company

Yes - it would be good to have the option to auto-convert to 0 deductible at age 60.

What's the recommended age of holding the 800K life insurance until? I note of course that the cost of insurance rises as one gets older. My goal of is of course as old as possible - but I'm assuming that 70 is a good number

As per my understanding some of the quotes I've gotten previously was for 30 years coverage - so rounding this up to 70 should be just about right.

Note - one more thing I'm doing to cover risk of earlier death, is that I'm currently taking on a term life insurance with value of RM1 M for now, and will stop this when the age of kids are of higher age.

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ERIKA Staff answered 3 years ago

Tay, here's the shortlisted quotes, medical card with 800k Life in 1 policy: https://askcf.com/tay-kh-2023-quotation/

FYI, out of the major insurers (AIA, Pru, GE, HLA, Alz), the first 3 does not provide deductible with option to auto-convert to 0 at age 60 without underwriting.

Khek Yang Tay replied 3 years ago

Hi,

Firstly – which would you suggest between HLA and Allianz?

So sorry for the trouble – can I have a quote for RM500K coverage of Life in 1 policy also?

I have quotes also for AIA and Prudential, but I'm keen to have a good quote from your end which should be non-favourable to a specific insurance.

I'm trying to compare against an equivalent quote which is being provided by a friend of mine – who provided combination of UltimateLink (for the medical insurance) + Premierlink (for the life insurance) of the same benefits.

Why is it that this friend of mine is providing such a combination quote instead of combining in one?

Question also – if I decide to increase my room rate later on (e.g. from 200 to 300), is this supported?

Thanks a lot in advance!

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ERIKA Staff answered 3 years ago

Tay, if you already have a friend who is an Allianz agent, and deductible with auto conversion medical card is what you are looking for, then you may want to go for Allianz with him/her, at the same time get to know the reasons directly from your friend why the quotes (800k + medical card 200) are separated when they can be combined.

Yes you can upgrade your room rate later, that means underwriting applies again.

Khek Yang Tay replied 3 years ago

Hi, OK will ask him so.

But can i get a quote for 500k + medical card 200 for both HLA and Allianz for comparison?

Thanks in advance

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ERIKA Staff answered 3 years ago

Believe your Allianz agent friend can do the Allianz quote for you because it is essentially the same quotation system whether agent or independent advisor are using it.

For HLA 500k + medical card 200, the quote is the 99% same as what we have done for you earlier, the only difference is lower premium at 5240/year instead of 6940/year.

Khek Yang Tay replied 3 years ago

Hi,

The equivalent quote I’m getting is for 70

UltimateLink R&B200 (RM140/mth) + Premierlink 500k (RM250/mth) = RM390/mth i.e. 4680/year

My understanding I’m getting is that – if the quote is lower because of Premierlink (life insurance) is cheaper in general – but coverage is the same, and generally there’s a better price because of the fact that there’s also a discount on it?

Do let me know if my understanding is wrong etc.