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
Download the details illustration for all age:medicare-100.xls
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