Though Malaysia has come a long way from a third-world country into one of the fastest-growing economies in the region, with rapid infrastructure development and mega-projects promising to help elevate the standard of living in urban and suburban areas, the level of safety and security leave a lot to be desired.
This is despite us having one of the best and perhaps among the more expensive healthcare system in the Asia Pacific region. It is therefore a wise choice to invest in a health insurance coverage that could help protect you from financial difficulties when faced with hefty medical bills when you require treatment.
What is this policy all about?
The AXA Affin HOPE Medic is a medical insurance that offers high annual limit on the total amount that you can claim for life. It provides comprehensive medical care up to the age of 81, or up to the basic plan’s maturity date, whichever is earlier. The policy also offers a range of plans that offer protection of up to RM500,000 per year.
What are the benefits of this medical insurance?
Some of the more generous insurance companies out there offer medical insurance plans with no lifetime limit. The AXA Affin HOPE Medic is one of them, but with one exception – your annual limit is renewed on a yearly basis, regardless of whether you have made a claim in the previous year or not. This allows you continuous and uninterrupted access to healthcare facilities if anything unfortunate happens to you.
Do note that the no lifetime limit” does not apply to “Special Benefits” under the policy’s Schedule of Benefits. There will be a lifetime limit for out-patient kidney dialysis, out-patient cancer treatment and home nursing care.
Will I be expected to pay part of the hospital bills?
There is no co-insurance in this policy, so in terms of payment for your medical bills, there is no such thing as “partial payment. Your medical fees will be paid in full by AXA Affin, as long as you stay within your eligible room and board limit.
You will also be given a medical card which you can use for hospital admissions and to pay your hospital bills. No cash needed.
Do I get any incentives if I didn’t make any claims?
AXA Affin rewards you for being healthy. You get to enjoy up to 20% discount on your insurance premium if no claims were made for at least 2 consecutive years. In other words, you get higher value for your premiums paid.
Who is eligible to purchase this insurance policy?
For new applicants, any healthy Malaysian below the age of 66 is eligible to apply for this insurance policy, subject to final approval from the insurance company.
Once approved, HOPE Medic covers you until you’re 81 years old, ensuring continued access to quality healthcare well into your retirement years.