WHY MEDICAL CARD IMPORTANT

What is Medical Insurance?

Medical Insurance functions as a form of protection to cover unforeseen expenses arising from illness, injury or accidents – which can be very expensive, especially if hospitalisation and / or surgery is required. Getting the right Medical Insurance also ensures that you won’t have to fret about the cost of seeking treatment during an emergency. In addition, it also provides you with a stream of income while you undergo treatment. There are 4 major types of medical policies:

• Medical Card/Health Card – covers hospitalization and surgical benefits
• 36 Critical Illness or Dread Diseases Insurance – a lump sum benefit
• Disability Income Insurance – stream of income when you are unable to work
• Hospital Income Insurance – provides a specified sum of money on a daily, weekly or monthly basis if you are being treated in a hospital

Where can I get Medical Insurance?

Medical Insurance products can be found at insurance companies and banks.

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How much does it cost?

Insurance companies and banks provide a few plans for you to choose from based on your budget and needs. Of course, the longer the list of medical coverage provided, the higher the premium (insurance fee) will be. Aside from the list and type of coverage, the premium also varies based on other factors such as your age, occupation, health record, gender and whether you are a smoker or non-smoker, subject to underwriting. As expected, those with a higher risk potential will be charged with higher premiums. From our research, the premium for medical card is basically charged based on the age of your next birthday and it will be increased with age upon renewal.