Medical Insurance: The simple guide for Malaysians



hello my name is Casey Lau a few days ago I received an email from my existing customer she asked me about specific questions about medical insurance and emaciated I'm looking for medical insurance for my parents what I want is cover for her hospitalization and I'm not sure which is which can explain if they are different or possibly are it is different when we are talking about medical insurance we can divide it into two major types so the first type of policy it covers the commonly known as 36 critical illnesses or diseases the same thing and the other type of policy covers hospitalized hospitalization and surgical benefit so for H and s is basically is commonly known as medical care or health care those are the same thing medica berries americana healthcare is the same thing so for these two type of policy I will explain the difference by using an example let's say a policyholder named Vanessa just put him mister a so just for simple illustration I say mr. a has three policies so the first one needs a cover the first type 3 6 QT goodness 100,000 and also at the same time you also coverage and s another 50,000 per year leave me and he also has another policy which is covering 36 52 killers 20,000 and he also has another policy also color 36 critical illness and a 55 K and he also has another policy which cover H&S is a standalone medical card cover let's say 25 K per year and this is given by his essay but given by his company given by his company that he's working for the first pain difference is when something happened to mr. a I say he strike cancer a very critical cancer and why is the benefit he will get from all these policies and what it covers so cancer is one of the illnesses that one of the illnesses that is defining 36million us so he definitely covered cancer the benefits of the policy 4:36 criticalness type of policy the policy holder in this case mr. a is going to get all the payout he came all the money that coverage that is covered under these policies and the money is going to be paid to mr. a in the form of a check issue by the insurance company under mr. aids name and he can basically go to the bank and cashing the check but for hey China's policy they'll be into two different kind of situation let's say the first half situation is if he used the mega cap in panel hospital panel Hospital is is one of the hospital as listed in by the insurance company that they can deal with the insurance companies straight away directly without having to go through many hassles so for panel Hospital let's say here he spent 10k in hospital and this hospital because it's a panel hospital they are going to claim directly from insurance company for the four case of this cancer is cancer mr. a spend ten K in the hospital and this 10 K is paid to the hospital directly by the insurance company if he is emitted into a panel Hospital so another situations will be when mr. a is not emitted into a pan Hospital that means ik ik he went to hospital that cannot deal directly with the insurance company so it's non panel non panel okay so in this case mr. a will have to pay the bill pay the bill first and then he will claim from insurance company the insurance company will pay mr. a back the money that he spent so you use all the medical bills and with the medical reports everything submit to the insurance company and the insurance company verify all the informations and it's correct they will pay back reimburse recorded reimburse or the amount he spent on Hospital in this case is ten thousand so for the benefits of H&S policy in fact the hospital is going to get the money eventually it's not the policyholder himself so far but for the resist to the nurses for the policy who do would get the money and he'll be reflected in his bank account right okay the second main different is how much you can claim how much to clean so in this example mr. Ayer has three policies that cover to these experiences policy 1 by C to Point C to write so the total how much can he claim can he claim like 100,000 or 20,000 or 55,000 the answer is he can claim all so in his case will be 100,000 100,000 plus 20,000 plus 55 equals to 175,000 total in three different checks by treating different insurance company or maybe he's the same company also they will issue different check for different policy so you can cream hundred seventy-five thousand so that means mr. a is 175 thousand higher in net worth right but in this case for a generous policy because mr. a spend ten K in hospital but he has two policy that covers H and s so it has this kind of policy one he brought in himself and policy for given to him by his company if you have to medical card I would suggest that you claim your company's was because this is not paid by you right you want to every medical card it has is limit it has this lifetime limit let's say for a decision s policy the lifetime is 300 K that means if you have claim out to end okay you cannot claim anymore is the limit of a life lifetime limit we call it okay for mister a if in this case he should claim from either one either from policy one of on policy for so it's either one he can claim either policy but just one time of the feast the best case is claimed ten thousand from the policy number four which is provided by the bus company and after he made the claim he cannot use whatever the cumin or the the photocopy of the original bill to claim another 10k from his first policy that is not possible he cannot do that you simply cannot do that because even if you can claim twice but the money is paid to the hospital why do you want to do that right so it doesn't make sense so basically his hospitalization and surgical benefit it just cover whatever amount that is video element that you paid to the hospital for the certain times so this is the first scenario let's say he spent 10k what about the second scenario if he spent 60 K so 60 K is more than the coverage of the policy number for because the limit is 25 K only but he has his own H and s policy that cover 50 K so the total is 75 K and in this case he can claim from both what he can do is first he claimed 25k from policy number 4 and after you depleted the limit within that year he can claim the rest which is 35 K from his own policy that can be done so total he can still claim all the flu amount 60 K provided that he has a backup all new medical car right so sometimes if you even if you are employed under a company and their company's benefits is very goodnight they give you a medical card but sometimes the limit is not as high as you you may have think it is sometimes like 25k and I have seen some company p5 5k or 10k is definitely not enough for major illnesses it is good that if you have a backup medical card for yourself we are done with the second differences and it's a difference I'm going to cover is which is also the fundamental of buying insurance it's about what is the purpose that you are getting the policy for if you are on a budget constraint you should get the hospitalization and surgical engines first because this is going to cover all your medical bills you are not going to make money from here but it prevents you from losing your saving light these high policy is used to cover all your medical views all your expenses spend in the hospital so that you have a choice if if let's say if you go to a government hospital is free by the way it's almost free in Malaysia but sometimes you have you face the problem of a long queue and maybe the the service level is not as expected so sometimes people prefer to go to a private hospital at least you have a choice to get a better service I in this case if you have a medical card then you will be good you cover all your medical bills although it doesn't it doesn't give you any money but it prevents you from losing or saving just to pay the doctors paid hospitals so as long as you already have these medical bills that means if you have a person like mr. a he get a cancer and all his medical bills are paid for with the H&S policy and why still he has to paly by a policy that cover to the sixth grade killed inside so the purpose here is different because the benefit it is paid is extra is this additionally paid to mr. a he can use this money to cover his living expenses because in case of cancer he may be too tired or too weak to work and if you have a choice you want to rest at home or you want to go to somewhere else that have a better medical services then you have a choice to stop working for money so at least this 175 cake and cover I can give mr. a sometimes to use that money to pay his mortgage pace car loan and pay for other things that she's paying out of his own income every man right

6 Comments

  1. U ve facebook bro… I gonna ask something

  2. when can i start to claim

  3. yes, the conceot unchange till date 2018

  4. is this video still relevant for 2018?

  5. Is this video still relevant in 2017?

  6. thanks KCLau for the explanation! I was planning to buy med. card for my mum.

    Looking forward to more videos

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