Ah, medical cards… One of the rites of passage to adulthood. There you are every month, diligently paying off your monthly premiums. After a while, you might start to ponder “Eh, I never claim also. Then my money go where?”
So if car insurance got NCD (No Claim Discount, a.k.a. that neat little clause that makes your car insurance premium cheaper for every year that you don’t claim), how come medical insurance doesn’t have this? After all, it’s not like you get hospitalised every year also, right?
Actually, our friends over at Allianz Malaysia told us: Got lah! While it’s not a common feature in medical insurance policies in Malaysia, their super comprehensive plan called MediSafe Infinite+ comes with this benefit, and many more!
There’s a reason it’s called “Infinite+” – the benefits are so comprehensive that it’ll even pay for some really niche things like genetic testing for cancer* (T&C apply of course). So here are some pretty cool benefits that might make you think twice about your current medical card.
There’s no overall lifetime limit OR limit for cancer treatment
If your existing medical insurance covers cancer care, you might wanna double check the benefits. Oftentimes, there’s actually an overall annual and lifetime limit on how much cancer coverage you can get. So even if your medical card covers up to RM1 million, that doesn’t necessarily mean you can use that RM1 million for cancer treatment. And if someone in your life has dealt with cancer, you’d know that the treatment and follow-up costs can really add up.
Cancer Research Malaysia estimates that 1 in 4 Malaysians are affected by cancer. With cancer cases expected to double in Malaysia by 2040, and cancer rates in young adults steadily rising, having really good cancer coverage bundled into your medical plan is definitely a huge win. In the case of MediSafe Infinite+, your coverage starts from RM850,000 and goes up to RM2.5 million a year, with no lifetime limit.
More interestingly, Medisafe Infinite+ also covers genomic testing for cancer. If you’re not familiar with that term, it basically means dissecting your DNA to figure out which treatments may work best for you, based on your genetics. With cancer research becoming more advanced these days, there are also more precise and less invasive treatments popping up, such as targeted therapy, hormonal therapy, and immunotherapy; all of which are also covered by MediSafe Infinite+.
Even just thinking about cancer is dreadful, so you may wanna maintain a healthy lifestyle to minimise your risks as much as possible. Now, let’s say that you’re really healthy and have managed to avoid the dreaded hospital stays for many years, then what rewards can you get?
You can get a refund of up to 20% if you didn’t make any claims
Finally, a benefit for staying healthy! If you didn’t claim anything from your medical card, MediSafe Infinite+ actually rewards you in two ways: No Claim Refund and No Claim Reward.
For the No Claim Refund, if you didn’t claim any benefits for 1 year, they will give you a 10% refund from the the cost of insurance you paid for the previous year. This refund increases to 15% if you didn’t claim for 2 consecutive years, and 20% for 3 consecutive years. Basically, the refunded amount will be credited into your Policy Account Value if you never had to pull out your medical card for 1 year or more.
With the No Claim Reward, you’ll be rewarded with a 10% increase in the Hospital Room & Board Benefit for every three years that you don’t claim. Ultimately, you can get up to 150% of your original entitlement, which means that if your plan originally covers RM200 per day, you now get RM300 per day and can upgrade to a private room 😉. On top of that, your hospital stays don’t have to be so lonely, as you can bring someone to teman you and have their expenses covered by the Lodger Benefit included in this plan.
But what if you already have a company medical card? Can get cheaper ah? To answer that question:
Get cheap cheap with the Deductible Option
A lot of us already have a company medical card, but oftentimes, the coverage is pretty… meh. So if your company covers RM20k a year, and your surgery costs RM30k, guess where that extra RM10k is gonna come from (hint: your pocket). But wait, did you know that you can get a personal medical card cheaper by offsetting it with your company medical card?
Here comes the magic of the “Deductible Option”. But… what deheck is that?
To put it simply, let’s say you get admitted to a hospital and kena charged RM8,000, and your medical card pays everything for you, then you probably have a zero deductible plan. But, if the total bill is RM8,000 and you have to pay the first RM5,000 yourself while your card only covers the remaining RM3,000, then you probably have a deductible plan with a RM5,000 deductible.
So if you wanna save money on your personal medical insurance, then you may wanna look at how much your company medical card covers you for. For example, if your company already covers you for RM30,000 a year, then you can opt for MediSafe Infinite+ with RM30,000 Deductible, which will reduce the cost of your premium significantly, up to 70%!
Oh, the Deductible Option also comes with a Retirement Option, where Allianz can automatically convert your deductible plan to a zero deductible plan when you retire and lose that sweet sweet company benefit, all without the need to pening kepala about altering your policy. So, you can continue to enjoy full medical coverage without worrying about paying your bills out-of-pocket.
But wait, there’s more!
There are plenty of other benefits covered by MediSafe Infinite+. After all, Allianz Malaysia told us that this plan is one of the most comprehensive medical plans in Malaysia at the time of writing. Besides, insurance plans are getting more and more competitive as the years go by, so even if you already have a medical card, it’s still good to relook at your policies every year.
Another great benefit of MediSafe Infinite+ is the International Second Medical Opinion, where you can get a second opinion from top experts from around the world to help you in your medical decision-making process. So if you’re having doubts about what your primary doctor is recommending, you can utilise this value-added service for free!
Additionally, you can also get this plan for your unborn child, as early as 13 weeks to 36 weeks into pregnancy, so your newborn will be protected right after birth.
Medisafe Infinite+ also gives you hassle-free admissions into an extensive panel of hospital. So there’s no need to call your agent or fill up annoying forms. Just show you medical card and BOOM, you’re in! If you wanna find out more, you can check out this link or get in touch with an authorised representative from Allianz Malaysia.