My husband bought a medical card from a
renowned insurance company 7 years ago. The cover was RM100 for Daily
Room And Board, RM50K for annual hospitalization and surgical
procedure, RM150K lifetime limit, expired at age 70. No claim has
been made so far.
Now that he is 7 years older, at the age of 50, we feel that 70 years old is not very far away. Reviewing the medical policy, we ask ourselves whether it is necessary and worthwhile to upgrade the medical card to a higher plan, or buy a second medical card to maintain the terms and conditions in the first medical card. The T&C was better and insurance charges was cheaper.
On inquiry, upgrading to age 80 will cost an additional monthly premium of RM191.30. To purchase a second medical card will cost another monthly premium of RM250 on top of what he is already paying RM150p.m.
After evaluation of the objective of upgrading, which is to ensure some kind of hospitalisation protection after age 70 to 80, we decide to invest RM250 monthly in an investment tool that can give us an average return of 8% per annum. This will give us an estimated dedicated hospitalization fund of RM137K at age 70.
Now that he is 7 years older, at the age of 50, we feel that 70 years old is not very far away. Reviewing the medical policy, we ask ourselves whether it is necessary and worthwhile to upgrade the medical card to a higher plan, or buy a second medical card to maintain the terms and conditions in the first medical card. The T&C was better and insurance charges was cheaper.
On inquiry, upgrading to age 80 will cost an additional monthly premium of RM191.30. To purchase a second medical card will cost another monthly premium of RM250 on top of what he is already paying RM150p.m.
After evaluation of the objective of upgrading, which is to ensure some kind of hospitalisation protection after age 70 to 80, we decide to invest RM250 monthly in an investment tool that can give us an average return of 8% per annum. This will give us an estimated dedicated hospitalization fund of RM137K at age 70.
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