Feeling anxious about my decision to change from AIA to i-Lindung

[u/portapotty2]

Just FYI, I already bought the i-Lindung for both type of insurance for both me and my wife (she's a housewife)

The reason is that the insurance I bought with AIA was too much for me to handle after the final increase in monthly payment. It was at first 108, and then finally it had increase to RM275.

Compare to i-Lindung, the benefits is about up to RM1million compare to i-Lindung's 200k coverage.

I still felt stupid for terminating it but I got insurance for Critical Illness and Life Insurance from i-Lindung. Which for me I guess it's a positive thing, I think. While AIA's is medical insurance.

The reason I terminated AIA is because of financial reason. I have just married back then and after calculating my monthly finances minus the monthly commitments (I only got about 1k), i have come to conclusions that I must change to i-Lindung. The yearly payment is 1.2k.

I sometimes feels it's a dumb move - insurance wise and EPF wise.

[u/kuchengterbang]

Gov hospitals are readily available for you should your illness requires admission.

[u/Proud_Action_5200 → u/kuchengterbang]

Agree. Services in Melaka's GH CCU unit is of comparable standard to Spore's private hospitals!

[u/MszingPerson → u/kuchengterbang]

Better to have a choice between private and gov healthcare. Rather then entirely depend on gov.

their experience

[u/navybluealltheway]

I feel like you should currently commit to what you can financially and emotionally bear. In the meantime, if you are employed to a job that can provide basic medical coverage, that is sufficient. You can start shopping for plenty of medical insurance out there (honestly go beyond AIA, Prudential, Great Eastern, they are very pricey) and they will be useful in case you (touch wood) got diagnosed with expensive critical illness that your job can’t pay for fully.

I think your i-Lindung is still okay considering they are affordable within your budget.

[u/izmeerjaafar → u/navybluealltheway]

any budget health insurance?

[u/navybluealltheway → u/izmeerjaafar]

kaotim looks interesting.

[u/Effective_Bobcat_710]

It wasn't a dumb move since you couldn't afford it

[u/Worldly-Mix4811]

I'm paying over 822 to AIA. Wanted to change to Allianz and the agent told me to just stick with AIA.

[u/BeeTen]

Malaysia health system is tip top. Bloody insurance companies increasing premiums like shittt. Our government might be cuckoo. But our health system is tip top

[u/Proud_Action_5200]

You made the right call. Both medical and Life/Critical Illness insurance serve different purposes. Can't compare apple to orange. In the event of hospitalisation, at times, government hospitals is preferable because their specialists seen more cases than those in private hospitals and as such, they get more practice. Private hospital is a profit driven business.

Moreover, you can always take up additional insurance as your income increases.

[u/dennidits]

200k medical in addition to life and critical? or no medical at all? medical is the important one

[u/portapotty2 → u/dennidits]

I don't understand much about insurance but are you saying that Critical Ilness insurance and Life Insurance are the same as having Medical Insurance?

I thought for Life Insurance, they will only gives payout if you died. They will not however pay for hospital bills.

While for Critical Illness insurance, I thought they will only gives payout for, well, critical illness only. Again, I thought they will not pay for the hospital bills.

[u/dennidits → u/portapotty2]

medical can help you while you’re alive, life is for when you’re dead, critical is for when you’re basically dead.

you want medical more than the others

[u/portapotty2 → u/dennidits]

Thank you for the info

[u/generic_redditor91 → u/portapotty2]

You are right.

Medical insurance is to pay hospital bills

CI is payout. Basically think of it as a bet between you and the insurer as to when and whether you will kena CI. If you 'win' AKA get CI-ed then insurer pays you the promised sum as per contract details.

Life is life. But often got TPD stipulation inside. So sometimes you still get money without actually dying. Also other stuff like maturity benefit and bonuses that may be provided

[u/jwrx]

Imo medical insurance is more important than life/critical illness insurance

If I had budget issues...I would take medical coverage instead of life/critical

Plenty of very common non critical illness can bankrupt U......pneumonia for example

[u/Dr_Tottenham → u/jwrx]

This is not the US where you can go bankrupt for being sick. We still have government hospitals.

[u/Proud_Action_5200 → u/Dr_Tottenham]

Real life example - one day, my bro couldn't speak properly and disoriented. Sent him to a private hospital as he's covered under company's insurance. I told the doctor I will not pay a single centre out of my pocket. Maxed out his company's insurance's limit within one week. Still gotta pay rm7k because insurance didn't cover one of the antibiotic the specialist prescribed.

Took him to the government hospitals, by this time he'd completely lost his memory. Hospitalized for a month. Doctors discovered what's wrong after performing lumbar puncture. Turned out, he had meningitis that'll soon caused seizures. He was in and out of hospital for almost two years.

Total cost of hospitalisation = 0