7 Situations When Your Medical Insurance Isn’t Enough


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Many people live with the assumption that their medical or health insurance covers anything harmful to their health, up to the coverage amount that they have chosen. Here we expose some myths to show that there are situations when your medical insurance wouldn’t be enough, and these can be serious life situations, such as...


1. When you’re proposing to your girlfriend at the seaside, overseas...





...and you get swept away by the ocean and fall ill. Does your insurance coverage include international destinations and natural ‘disasters’? Medical insurance typically covers medical expenses within the country you’re residing in, not the country you’re travelling to. Some medical insurance does provide such coverage, so do find out what it covers, or else, it would be good to opt for travel insurance at a minimal fee for the short travel period.


2. When you’re needing some teeth-pampering...






… and you find out that your medical insurance doesn’t cover dental procedures. Just because dental procedures are performed by a doctor (or dentist, rather) does not mean it qualifies as a medical procedure. Dental procedures are typical of an aesthetic and optional nature, so does not qualify as a life-saving medical procedure. There is some medical insurance that covers dental procedures such as an infected wisdom tooth, but it is better to check to be safe. If dental expenses are of a concern to you, it would be good to consider a separate Dental Health Insurance package (yes, there is such a thing!).


3. When you’re admiring a beautiful K-Pop star and wishing for a makeover...



… but nope, your medical insurance does not cover cosmetic surgeries. Similarly, like some dental procedures, cosmetic surgeries, although performed in a medical institution is an optional procedure and does not constitute a life-saving procedure. No matter how much you want to look like your beautiful K-Pop star, nope, it’s not covered, unless you pay it from your own pocket!


4. When you’re desperately sick and you end up in a...




… non-panel hospital. Yes, it is best to find out if your medical insurance has dedicated panel hospitals for the policyholder to go to (most of the time, it does). When you go to a wrong, non-panel hospital, it is really risky as you may not be allowed to claim for the expenses used and this can be hefty costs. Some insurance companies can be compassionate and allow for exceptions when there are emergencies and you’re too far from a panel hospital, but it is best not to take the risk.


5. When you’re getting elderly and the premium reduces because of your age...




Did you know that some medical insurance policies automatically increase your premium payment as you get older, especially when you hit the senior citizen bracket (60 years old and above)? To avoid the risk, it would be best to consider medical insurance with maximum age coverage even up to 100 years old. If you are more comfortable with those with maximum age coverage of 65 to 80 years old, you may need to consider the costs involved to renew the policy later which may be heftier since rates differ according to date of policy issue. Also, do consider annual and lifetime limits of the medical policy.


6. When you suffer from total permanent disability and loses your job..




Accidents do happen, and some medical insurance exclude Total Permanent Disability (TPD) within the coverage. Some insurance companies, however, do include TPDs and even provide daily cash allowance (up to RM500 per day depending on which policy you purchase) for the days you’re not able to work due to the TPD. If your job is of a high-risk nature, especially dealing with machines and the like, it is best to really find out the fineprint of your medical insurance with relation to TPD.


7. When you’re struck with a critical illness like...




… cancer and all its ugly companions. Most medical insurance do not include critical illness as part of its coverage, but you’ll be surprised that some actually do include Outpatient Cancer Treatment as part of the coverage (so do check!). As cancer diagnosis becomes more and more common these days, find out if your medical insurance includes critical illness coverage such as cancer, as the treatments and surgeries can be really, really costly. There are also cancer-only medical insurance policies which can be considered, which of course, will exclude those who are diagnosed with any symptoms of cancer 60 days before the policy issuance.  


So how do you know if your medical insurance covers all these seven situations (and if they matter to you)? Read the fineprint and don’t just trust your insurance agent blindly. Ask as many questions as you want so that you know what you’re paying for. Of course, some of the above situations are just for comic relief, but make sure to include areas that you believe you actually need more and do not wait till tragedy strikes.