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Frequently asked questions (FAQs)

Client Care

Medical Rate Revision

There are various factors impacting the revision of cost of insurance for medical rider, such as advancement in medical equipment(s) and technology that increases the medical cost, rise in claims due to higher frequency of people seeking healthcare treatments, and increase in the average life expectancy of Malaysians which increases the demand for long term medical care and services.

We take into consideration various factors including but not limited to actual healthcare costs, medical claims experience and the projected medical inflation and customer affordability.

All insurance plans including medical coverage, are based on the concept of risk pooling, where the insurance premium/charges for the pool of clients are collected to support each other for future claims payment.

As such, any revision of premium/cost of insurance for medical rider will be applicable to all clients.

No, any revision of cost of insurance will be applicable to all clients.

No, the revision of cost of insurance is mainly to address the rising medical claim cost.

You may consider the following options, subject to your needs and affordability:

  1. Top up the premium lower than the recommended scheduled top-up premium amount (if applicable);
  2. Perform single top-up premium at anytime to increase account value;
  3. Perform downgrade of the Hospitalisation & Surgical Benefit rider plan, e.g. from Plan 250 to Plan 150 (if applicable);
  4. Reduce benefits or coverage, e.g. decrease the basic or rider sum assured (if applicable); or
  5. Change to a higher payment frequency, e.g. from annual to monthly mode (if available) for lower monthly commitment.

We will continue working with our healthcare partners/third party administrator, to monitor and evaluate healthcare costs to ensure the charges are reasonable for the treatment and services provided. If there is a need for future adjustment, we will notify you in advance.

Your policy will continue to remain in force, as long as the account value of your policy is sufficient to cover the policy charges. However, your account value is expected to deplete faster due to the revision of cost of insurance for medical rider and this will impact your policy sustainability where your policy might not be able to provide insurance coverage up to the end of the coverage term.

To ensure the continuity of your insurance coverage, we strongly encourage you to continue paying premiums.

You will no longer enjoy the medical coverage under your policy and need to pay out-of-pocket for future medical costs (if any).

It is not necessary that all medical products experience the same increment in claims cost as insurance is based on the concept of risk pooling. If the current risk pool is still healthy, then there will not be a re-pricing exercise for your policy.

Yes, the waiver rider(s)’ sum assured will be adjusted according to the new premium. No underwriting is required if you choose to top up the recommended additional premium. If the requested scheduled top-up premium amount exceeds the recommended additional scheduled top-up premium amount stated in the letter, further underwriting assessment will be required.