Second Hospitalization & Surgical Insurance is Not A Waste of Money Provided...

The ever-escalating medical treatment costs in Malaysia will cause the existing Hospitalization & Surgical (H&S) insurance policyholders to top-up their H&S insurance coverage. I foresee the overlapping of H&S insurance will become a big issue in the near future.

However, having two H&S insurance is not a waste of money provided your second H&S insurance is a deductible type. How do you know it is a deductible H&S insurance? A deductible H&S insurance is usually 50% cheaper than a normal H&S insurance in terms of premium rate (comparison based on the same maximum annual claim limit). Another crucial character of deductible H&S insurance is: a pre-determine amount of the medical bill, e.g. RM2,500 must be paid by you or your first H&S insurance before it pays.

Recently, I did a survey on 25 insurance companies who sell H&S insurance in Malaysia. Sad to say that there are only 4 insurance companies offered deductible H&S insurance. However, as a consumer, you wise may want to urge your insurance companies to come out with deductible H&S insurance to cater the rising need of having second H&S insurance.

Your effort will definitely help many innocent policyholders save money. Also, ask your friends to read this article if you know they hold at least two H&S insurance.