Great Eastern Life Malaysia launched a new product early this year – MediCare 100. Most health plans in the market only cover the life assured up to age 70. Medicare 100 is designed to meet your changing health needs and protects you up to age 100. What’s more, your coverage will increase by 10% each year until a maximum of 200%*. This will help cushion the effects of inflation on the value of the plan.
For easy illustration, I will list down the main features, benefit and premium of a 30 years old male, non smoker eligible to purchase MediCare 100.
Benefit before age 70 next birthday
a) Hospital Room & Board (Limit per Day subject to a maximum of 180 days for insured benefits (a) & (b) – RM150
b) Intensive Care Unit (ICU) (limit per day subject to a maximum of 180 days for insured benefits (a) & (b) – Reasonable and customary charges
c) Hospital Supplies & Services, Day Care Benefit, Surgical Expenses, Organ Transplant, Pre- & Post-Hospitalisation Treatment – Reasonable & customary charges, subject to co-insurance (10% of eligible medical expenses, max RM500)
d) Emergency Accident Outpatient Treatment – RM3000/year
e) Outpatient Cancer Treatment (per lifetime limit) – RM20,000/life time
f) Outpatient Kidney Dialysis Treatment – RM40,000/life time
g) Annual Overall Limit – RM90,000
h) Lifetime Overall Limit – RM300,000
i) Government Hospital Daily Cash Allowance (per day) – RM50 per day max 120 days
j) Executive Second Opinion – In accordance with benefit provision in Executive Second Opinion
k) Supreme Assist (Emergency Assistance Services) – In accordance with benefit provision in Supreme Assist Agreement
Benefit on age 70 next birth day and above
Medical Care Benefit (hospital R&B, ICU, Hospital Supplies & Services, Chemotherapy & Radiotherapy, Outpatient Surgery, Pre- & Post-Hosp treatment, Emergency Acc O/Patient Treatment, Traditional Medical Treatment, Dental & Vision Care, Medical Equipment-hearing aid, wheel chair, walking aid) —- As charged, subject to annual overall limit of 20% of current sum assured and lifetime overall limit of 100% of current sum assured
Home Care Benefit (requires assistance to perform any of the activities of Transfer, Mobility, Continence, Dressing, Bathing/Washing, Eating) —- Lump sum payment, subject to annual overall limit of 20% of current sum assured and lifetime overall limit of 100% of current sum assured
Benefits throughout the policy term
- Original Sum Assured (Death, TPD, Terminal Illness & Maturity Benefit) – RM50,000
- Max Current Sum Assured (Sum assured increases 10% every year until maximum of 100% after 10th year) – RM100,000
Premium charged on a 30-year-old male, non-smoker, occupation class 1&2 is RM2040.50/year payable until age 69 next birthday.
Surrender Value is available (please refer to ACTUAL Quotation from the Agent)
Maturity Benefit is payable upon age 100 at the amount of MAX Current Sum Assured
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Download the details illustration for all age:medicare-100.xls
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{ 14 comments… read them below or add one }
I am looking to purchase a medical-health insurance for my daughter who is 21 years old. I shall appreciate it if you can send me the relevant information for my consideration.
Thanks.
Tee
Dear Tee,
Can you give me your email address or tel number so that i can send you the relevant quotation?
Please do not hesitate to email me at francis_foo80@yahoo.com or contact me via 012-2800626 or 012-4860626.
Since your daughter still young, she can puchase Prulady for lady disease such as SLE, servick cancer and etc.
1st of all i would like to thank u for u interrested in medical-health insurance for u daughter. May i have u contact no? U full address pls ! Then i will contact u. Thank you.
I am looking to purchase a medical-health insurance for myself aged 25 years old this year 14th may.. I shall appreciate it if you can send me the relevant information for my consideration.
Thanks.
malar
Hi Malar , Maybe i can help to give you a solution, drop me and email then i will provide you the way .
Dear Malar! 1st all i would like to thank u for interested in medical-health insurance. Pls e-mail me u addresss and contact no. Thank u.
I have three children age 7, 8 and 10 years old. What type of policy should I buy ?
By the way, I live in Kuantan.
Hi Sia,
It depends on what is the purpose of the insurance. The basic need is medical and savings for education.
Investment-linked plan can suit most of the needs.
I think of changing my current Medicare100 insurance to supreme living care plus.
How much will be my lost as my Medicare100 is coming to its 3rd.year?
My current age is 54+ and my current Medicare100 sum insured is 50k without the great medicare rider.
i want to purchase medical insurance (hospitalization and surgical) and an agent recommended Great Medicare 2. There are how many types of medical insurance by Great Eastern ? What are the major differences between them?
For Great Medicare 2, the Room and Board are rm150, 200, 300 & 400. If currently, rm150 is the cheapest R & B available at private hospitals, what happen if in 10 years time, the same R & B has become rm250 due to inflation and etc. The insurance company still pay only rm150 for R & B as per policy ?
How the 20% co-insurance if upgrade R & B works? How to determine if there is an upgrade if in time to come, the cost of R & B will definitely be much higher than the current plan that i purchased.
Is it true that the premium for Great Medicare 2 is fixed throughout the years if ILP ? OR the insurance company has the rights to request policy holders to pay higher premium in later years due to higher medical cost. IS the insurance company relying on the investment returns to off-set the higher medical cost? Meaning to say that if investment returns are lower than projected, one will need to top-up the premium?
The premiums in the early years are usually higher compared to non-ILP medical insurance (stand alone medical insurance) to ‘smooth’ out the premium over the whole policy period ? (for stand alone medical insurance, premium will increase over the years).
I am male, aged 31. my budget is about rm3K per year. I want to purchase medical insurance + life + CI + PA. What is your recommendation? Your comments are highly appreciated.
Hospital ROOM – per day RM150 & yearly claiming RM90,000. can I have this plan. How much to pay monthly. I am 49 year Lady (Medical plan)
I am 53 year old. I am having diabetes for two year. what is the Medical plan for me to buy. the cheaper plain.
I am 56, looking for a medical insurance (takaful preferably). can you advise pl
HI Mutalib,
Please email your contact to insurance@kclau.com to schedule an appointment with one of my trusted associates.
Thanks