Klang Valley : Medical card comparison in Malaysia

If you have visited someone from the hospital, you may know how expensive it is to get treated in the hospital. Depending on the severity and type of illness, you may need to spend RM50K-RM100K.

Having said that, a medical card is important because it help to offset the high hospitalization cost by paying a small premium every year. Now, let's compare the medical plan by 3 major insurance companies in Malaysia:

1. Great Eastern
Advantages:
Every 3 years, the annual limit will automatically increase if you didn't make any claim within this 3 years. Comes with free car assistance programme, useful if you need to call someone when your car breakdown. Highest ICU benefits of up to 180 days (shared with R&B days).

Disadvantages:
Outpatient kidney and cancer treatment is subject to 10% coinsurance without any maximum capping. High 20% coinsurance amount for SM100 and SM150 plan with no maximum capping.


2. AIA
Advantages:
Coverage up to 100 years with no lifetime limit for ECP+MCP plan. Free coinsurance between RM22K and RM36K. This means if your hospital bill is RM20K, you don't have to pay any coinsurance. Emergency evacuation benefit of RM500K. Highest post hospitalization coverage of 120 days compared as 90 days offered by other insurance companies.

Disadvantage:
Limited amount for outpatient kidney and cancer treatment.

3. Prudential
Advantages:
With zero deductible option, you don't need to pay on eligible cost if you're hospitalized. Can change the R&B with the annual limit amount that you required. If you stay in a room that is lower than your R&B, Prudential will reimburse you the differences as allowance.

Disadvantages:
Higher premium compared to others. Cancer treatment and kidney dialysis does not include consultation, examination tests and take home drugs. ICU coverage 30 or 60 days only depending on the plan compared with 120 days from AIA and 180 days (shared with R&B) from Great Eastern.


Note:
1. Coinsurance is the amount where you need to pay the 10%-20% of the hospital bill using your own money depending on your policy.

2. If you plan to buy a new medical plan, please get one as soon as possible before any illness. Otherwise, it will not be covered.

3. The above medical plan are subject to changes.

Klang Valley : Property Loan and Refinancing




People buy a property for 2 apparent reasons:
(a) For own stay
(b) For investment

With the price of property skyrocketing, it is very difficult for new property buyers to afford a loan unless their income is high enough. I receive a number of emails, "Peter, should I buy or rent a property?"

The answer lies whether your "net income" is sufficient to pay the loan after deduction of all your commitments and expenses. A loan amount of RM100,000 for 30 years @ 4% interest rate will require a monthly repayment of RM477 (Note: Interest rate are subject to change depending on BNM BLR rate and your loan package).

NOTE: Property prices have been increasing over the last couple of years significantly. I would advise you to buy one if you can afford it now rather than wait.