Health is Wealth – But Healthcare Costs Are Incredibly Expensive!
The cost of medical care in Malaysia (and practically everywhere) is rising – and sharply.
So the sad truth is that MOST of us will not be able to afford the cost of private hospitalisation, out-of-pocket.
The Solution: Getting Health Insurance
Since personally paying for private medical care and hospitalisation is out of the question for most of us, there appears to be only two viable options available.
The first is to get treated at a government hospital, which is not completely free or convenient, but it is definitely more affordable than private hospitals.
The second option is to buy medical insurance and this would seem the better choice if you can afford it.
After all, purchasing at least a standalone medical card will afford you a significant level of coverage, for as little as a few hundred Ringgits a year.
This is especially true if you are young (aged below 40 years) and healthy.
Also, most plans can be broken down into smaller monthly payments to make it even more affordable.
If you have cash to spare and are looking for diverse coverage that includes a savings portion, life insurance, and other benefits, you may need to contact an insurance agent to review your options.
But for those who are new to the workforce and with a smaller budget in mind, one of the easiest, most convenient and cost-friendly ways to get insured is to buy a standalone medical card online.
There are now quite a few comprehensive medical plans online from trusted providers like AXA, Manulife, and AIA.
The Benefits of Online Medical Cards
The concept of buying insurance online is not new to us in Malaysia, but buying medical insurance from the internet is a relatively recent offering.
Buying through insurance agents was (and still is, for now) the most common way to buy a health plan. However, there are definitely a few extra benefits to buying a medical card online when compared to the traditional route:
Here are some of the main advantages:
An online standalone plan will likely cost less than if you were to buy from an insurance agent. This is because the premiums will not include the agent’s commission or other middlemen folk.
It might also be indirectly cheaper as you can access prices and compare between providers more easily. This then gives you a better opportunity to source the most affordable plan that ticks all the right boxes.
Quick and easy to buy
If your gripe with buying health insurance is the convenience factor, then you should note how direct and simple the process of buying a plan online can be.
You can purchase a plan at any time, in the comfort of your home or anywhere that you can access the internet.
Depending on the provider, you’ll also likely have many payment options available.
Insurance agents are human beings too and often, they happen to be a relative or friend, so it is understandably difficult to say no to them.
And even if you don’t know your agent personally, you may feel obliged to buy from them after you’ve taken up their time, even if you aren’t completely satisfied with your plan.
You may also be presented with fewer plan options, of which none may be completely suitable for your needs.
However, when online, you’ll have more freedom to look for information by yourself and decide in your own time, without any obligations.
Should I get an online medical card if my job provides a health insurance plan?
Yes, it is still recommended to buy health insurance even if your employers are providing such a benefit.
Consider that when you leave your job, the coverage will cease and there is no guarantee that your next job will also provide health insurance.
Furthermore, if you get struck with one of the thirty-six critical illnesses like stroke or cancer, or other health conditions without being insured, it will be exceedingly difficult, if not impossible to get coverage later on.
This is because of the pre-existing conditions clause in insurance policies that will exclude you from coverage. Therefore, it is recommended to get insured at an earlier age if possible.
There it is…your introduction to online medical cards! Keep an eye out on our next article as we introduce the top medical cards in Malaysia you should be considering next.
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