Page 33 - MEDICAL AND HEALTH INSURANCE
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MEDICAL AND HEALTH INSURANCE
a) Must be hospitalised continuously for 45 days or more
b) Have a surgical procedure, which is 75% of the surgical schedule
This is to reduce minor claims by strictly covering the catastrophic loss
event. Alternatively, the insurer may waive the above conditions and treat
it as comprehensive major medical cover to be expanded from the basic
plan.
In whatever manner the policy is designed, the premium would be priced
accordingly. Costs are reduced in policies with more limitations/conditions
as compared with the comprehensive cover. Pre-existing illness is
generally not waived for major medical insurance policies even for large
groups and the insurer may impose a waiting period for it.
Major medical insurance policies can be standalone or supplementary to
the basic hospital and surgical insurance policy. This type of policy has not
been popular in the market because the Insured would normally opt for a
higher basic cover without deductible and co-insurance.
2.1.4 OTHER PMI PRODUCTS AND ADDITIONAL BENEFITS
Other popular medical expense covers available as additional benefits are
coverage for chronic illness of:
a) Outpatient cancer treatment
b) Outpatient kidney dialysis treatment
c) Organ transplant
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