Insurance Talk

The H1N1 influenza outbreak has caused a great concern to agents as well as all policy holders throughout Malaysia.

Medical plans issues after 2006 have exclusion clause for  ‘any communicable diseases required quarantine by law’.

In line with all LIAM members and the immediate help from the nation, HLA will waive this exclusion of policies  due to that influenza.  The company will continue to monitor on the outbreak and if there is any review on the medical coverage, all agents and policy holders will be informed.

Dare to be remarkable !!

Medical insurance is often negleted until the attack of dread killers, by which time, getting the coverage may seems almost imposible. These policies cover the cost of medical bills, the most popular and the basic one would be your medical card.

Illness can be cured but medical bills might be fatal due to the high inflation rate of medical bills of above 10% yearly. These are the financial risks that strike wthout any warning to most people. Even if you are ever ready with some funds which is thought to be sufficient, why risk it when we can protect it for our retirement and our children education? As insurance is a component of financial planning, we can have the choice to transfer your medical risk to the insurance company.

Common factors to consider before taking u any hospitalisation plan guaranteed renewability, amount of coinsurance (amount of bills borned by patient, usually 10% or minimum RM300), exclusions, limit for coverage (especially to cancer treatment and kidney dialysis) as these are no 1 killer in Malaysia, entry and age expiry limit, annual and lifetime limit, cashless facilities and lastly, the premium charged.

To make the comparisons, ones must get a wide knowledge on the plans available, and that it suits your lifestyle and financial circumstances. Getting a higher category of coverage is important to hedge against escalating medical cost but depends on ones affordability. The other factor is that we can opt for better treatment that comes along technological advances.

Start with a lower option and remember to review what you have as your income grows. Look out for the annual coverage limits and the sufficiency in coverage. When there are medical claims, additonal premium will be charged with few exclusions from certain related diseases when you wish to get additional coverage. Your original coverage however will not be affected.