Thursday, 2 June 2011

Medical Insurance (to satisfy MM2H requirement)

While I was in Penang I met the very charming Elane Goh through my good friend Ken at No Eyed Dear. Elane is a financial consultant whose business portfolio includes medical health cover (insurance). This type of cover is a requirement for many MM2Hvisa applicants so I was particularly keen to hear about the policy offered by Hong Leong Assurance. Hong Leong is one of the major financial institutions there and I met several local people who have such cover with them.

The name of the policy is HLA MedGLOBAL IV and, as with all such policies, cover and benefits varies according to the premiums you pay which will vary on account of gender and age. There are three levels of cover which MM2H applicants can avail themselves of which are identified by the codes MGIV 200, MGIV 300 and MGIV 400. Taking the lowest premium policy (MGIV 200) I have listed below the main details of the cover provided. Where a number of days is listed this always refers to the number of days per single disability:

  • Hospital Room and Board (up to 150 days per disability): RM 200 / 300 / 400 (*see below re explanation of different rates)
  • Daily cash payment (as a result of hospitalisation due to an accident on a Malaysian Highway): RM 200 / 300 / 400 *
  • Daily cash allowance at Government Hospital: RM 100 / 150 / 200 *
In all cases below the cover is for "reasonable and customary charges" unless specified.
  • Intensive Care cover (up to 75 days):
  • Lodger expenses (up to 150 days):
  • Hospital Supplies and Services:
  • Surgical Fees:
  • Anaesthetist Fee:
  • Operating Theatres:
  • In Hospital Physician Visit:
  • In Hospital Physio:
  • Pre Hospital Diagnostic Test:
  • Organ Transplant:
  • Day Surgery benefit:
  • Ambulance Fees:
  • Govt Service Tax: 5% of room and board benefits
  • Emergency Accidental Outpatient Treatment:
  • Emergency Accidental Dental Treatment:
  • Outpatient Physio:
  • Outpatient Cancer Treatment:
  • Outpatient Kidney Dialysis:

  • Home Nursing care (180 days per lifetime): RM 60 / 80 /100
  • Annual Policy Limit: RM 120,000 / 180,000 / 240,000
  • Aggregate Term Limit: RM 600,000 / 900,000 / 1,200,000
  • Emergency Evacuation (repatriation): 150,000 (all same)

* As your level of cover increases (e.g. MGIV 300 and 400) the main effect is to increase the payments due under the different levels of cover which I have separated by the '/' marker

Clearly these details are not exhaustive and full reference would need to be made to an individual policy/contract but they give a good indication of cover. I plan to compare these against other main providers such as Great Eastern, Prudential and AIA. As an example of the premiums I have listed below the annual premiums payable (according to current literature) for males/females in two different age bands (note that new policies can only be taken out up to 60 years of age for both men and women) for the three levels of cover MGIV 200, 300 and 400 respectively.

Male aged:

51 - 55: RM 2,193.79 / 2,974.92 / 3,693.74
56 - 60: RM 2,685.61 / 3,640.33 / 4,519.39

Female aged:

51 - 55: RM 2,125.63 / 2,869.35 / 3,560.89
56 - 60: RM 2,424.47 / 3,264.81 / 4,049.56

This is the first policy I have had chance to look at in detail and it seems quite comprehensive and reasonable though I do have further comparisons to make. I know some choose not not to take such cover, or at least choose to use the coverage provided by the medical component of free travel cover given with many bank accounts. Something to ponder really as, while that approach may satisfy the criteria, the question is what happens if you get hospitalised or need protracted treatment and your bank finds out you are not actually on holiday but semi-resident and refuses to pay? Expensive times potentially. You could of course save the money yourself each month, another option, one the criteria to get the visa is satisfied. Much to ponder!!

For anyone interested in this particular policy you can contact Elane direct for further details on: elanegsl 'at' (address written this way to prevent spam bots from getting it, just substitute the 'at' for @)

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