So many medical insurance products. Are they the same?
We try to help you make that informed decision.
Great Eastern Insurance
The SmartMedic Plan is the medical insurance offered by Great Eastern Insurance, one of the most popular insurance companies in Malaysia. Those between 30 days and 60 years old can apply for this insurance which comes with a RM60k overall annual limit and a lifetime limit of RM480,000. Surgical fees and intensive care unit of up to 180 days are among the benefits of this plan and is one of the more flexible plans in the market today.
The Tokio Marine Group is one of the largest insurance companies in Malaysia. Known across the world, its Medic Plus Plan is one of their top medical insurance offered. It comes with a deductible amount of RM10,000 per disability per year which could be a setback. The plan can be purchased by anyone between 19 and 65 years of age which comes with hospital room and board and services like outpatient kidney dialysis treatment, among others. Besides that, you can be eligible for other charges like surgeon fees, operating theater, pre-hospital diagnostic tests and home nursing care as well. Amidst all that, it is in fact one of the lowest in the market in terms of premium rate.
Under Allianz Insurance, the medical insurance here comes in the form of its Care Plus Plan where the Plan 110 provides you with an overall annual limit of RM35,000 and a lifetime limit of RM350,000. It is catered for people between 30 days and 69 years of age. Benefits are quite standard which includes surgical charges, pre-hospital diagnostic tests up to 31 days, home nursing care and many others. In terms of premium for a medical plan, it is among the lowest in the market.
Pacific Insurance provides the Medi-Major Plan which can be engaged by individuals between 19 and 60 years of age. The overall annual limit in this plan is RM100,000 while you can have a RM400,000 Lifetime Limit. Benefits are standard with exclusions and come with 4 plans, quite similar to that offered by Allianz and Tokio Marine.
Prudential’s medical insurance is offered through PRUHealth. This package gives you an ideal package that covers your hospitalization and surgery charges if needed. One of the unique traits offered by one of the oldest insurance companies around include a No Claim Bonus which gives you annual bonuses of up to RM5,001 if you do not make any claims for that year.