Your Questions Answered Here › Medical Card – Upgrade?
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KEIKO ISHIGAMI asked 3 years ago

Good afternoon,

I bough medical card with rider 10 yeas ago and back then it covered medically up to 79YO.

Recent medical cards cover up to 90 or 100YO, with 12% higher premiums (comparison done)

Noboday can predict what happens to me after 80YO. Currently I am healthy and no chronic ailment. What your advice on this?

2 Answers
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ERIKA Staff answered 3 years ago

Hi Keiko

Contrary to what people think ("I am healthy so medical card is not a priority now"), medical card is bought with health, not money.

Example, someone with diabetes, he/she will be unable to buy one even though willing to pay higher for it.

The sufficiency of a medical card primarily lies in the annual/lifetime limit. Age of coverage is secondary - as long as it covers up to 80 yo.

So the questions to you is - what is the annual & lifetime limit of your 10y+ old medical card? Then we can tell you whether it is enough by today's standard and beyond.

Also curious on your '12% higher premiums comparison done' remark, share with us what you are looking at?

KEIKO ISHIGAMI replied 3 years ago

Hi, Erika
Here is the details:
Existing plan – annual limit RM1.2mil, NO lifetime limit (unlimited) R&B RM200. The medical card coverage ends on my 80 birthday.Annual premium is RM5230.

New insurance mentioned above. R&B RM200 Annual limit RM2mil. No liftetime limit. Annual premium is RM5832. (this is an quotation shown by a agent) this covers up to 90YO birthday.

I do not catch on your “age of courage is secondary’, it sounds not that importnat here. The probabilty to have an agressive treatment above 80YO is not so high, or I may not be around. Haha.. Looking forward to your review.

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ERIKA Staff answered 2 years ago

Keiko, thank you for sharing the scenario - yes, the upgrade does make sense.

Was referring to both - as you put it - the probabilty of undergoing high cost treatment above age 80 is low, and depending on one's family history, one may not live beyond age 80, but covering to age 90 is great in most cases.

And you want to budget in for this 5.8k/year expenses for the next few decades (financial planning), taking into account likely hike in premium costs in the later years (age 70+)