MM2H Medical Insurance

Old Feb 23rd 2015, 4:27 pm
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Default MM2H Medical Insurance

Hi All,
My wife and I will be moving to Penang in Oct this year. We have our approval letter, (from Nov 2014) and will be requesting a 6 month extension.
I have started to look at medical insurance in preparation for our move (and getting our visa), still lamenting the loss of the My2home site as there was a wealth of info there on medical insurance.

However, would anyone be willing to share their experiences with local medical insurance providers, good or bad, so that we can make an informed choice?

We are both in our late 50's and from what i can see it is important to get insurance before reaching 60 as some insurance companies seem less excited as you get older. We are both healthy and are really looking for an insurance that would cover the big stuff should we get ill.
We are moving from the US consequently we will not maintain any insurance in the US, (too expensive) and although I am a Brit I have not lived there for many years, so the NHS is not an option for major issues as I would need to re-establish domicile there for a year before they would pay.
My wife is Singaporean so does have the CPF option but it would not be enough for any major issue.
Thanks for any input.
Ian
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Old Feb 24th 2015, 5:41 am
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Default Re: MM2H Medical Insurance

Hi Nobby J, congratulations on getting your approval letter. My wife and I are currently wrestling with this issue. It's not something I am ready to share publically just yet but I will pm you with some views.
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Old Feb 24th 2015, 7:10 am
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Default Re: MM2H Medical Insurance

We are with Allianz. We only got the cheapest of cheapest policies with them, with the intention of self funding any extras. That has worked out so far even though we have had a huge amount of med expenses. And clearly everyone must have a Plan B for late retirement.

Allianz have been very good (albeit slow) on paying out. Even coughed up for a hospital payment in Singapore, which actually wasn't supposed to be covered in the policy.

Having said the above, I regret going direct to the company. If I did it all over again, I would use an insurance agent. As I understand it, an agent will come to your house and submit your insurance claims. It's not a lot of fun trying to get claims into the insurance company, when you're already busy visiting hospitals etc. So bear that in mind.
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Old Feb 24th 2015, 7:23 am
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Default Re: MM2H Medical Insurance

Originally Posted by Nobby J View Post
Hi All,
My wife and I will be moving to Penang in Oct this year...I have started to look at medical insurance in preparation for our move ...
However, would anyone be willing to share their experiences with local medical insurance providers, good or bad, so that we can make an informed choice?

Ian
Hi Ian,

Hmmm. This is a big subject. Where to begin?

My wife and I looked at policies offered by Tokio Marine, Allianz, AIA, Kurnia, Pacific Med and ING.

We chose AIA and have been truly delighted with the service, including payout on claims.

Here's some tips for starters:

If you are intent on living permanently in Malaysia, take out Malaysia Only medical insurance, and cover foreign trips with a separate annual travel insurance policy bought here. This keeps the cost down.

Compare the total premiums you will pay over the next 10 or 15 years on a spreadsheet, as premiums typically go up in age bands. Taking a longer view may reduce your overall costs.

Check which hospitals are on each insurers approved list. Some don't include Gleneagles Hospital (Penang) for example.

Make sure your premiums will not be increased if you have to make any claims.

Bring copies of your Medical reports from your doctor with you to Malaysia, especially if you've ever had any medical problems. The insurer will want full details.

Top up your policy with extra cancer care etc.

Ask loads of questions to ensure you will get what you think you will. It's a bit of a minefield.

JC3
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Old Feb 27th 2015, 9:00 am
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Default Re: MM2H Medical Insurance

I am looking for just the basic cover necessary to get the MM2H visa stamped, after getting the Visa stamped, would proberly would return after about 2 years back to Malaysia and I complete by overseas contract.
Any recommendations which company provides the basic coverage and how much would it cost?
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Old Feb 27th 2015, 11:55 am
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Cost depends a lot on age. Take a look at some of the websites. They all publish the prices for med insurance and different price categories.
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Old Mar 1st 2015, 5:48 am
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Default Re: MM2H Medical Insurance

Originally Posted by Kjarkata View Post
I am looking for just the basic cover necessary to get the MM2H visa stamped, after getting the Visa stamped, would proberly would return after about 2 years back to Malaysia and I complete by overseas contract.
Any recommendations which company provides the basic coverage and how much would it cost?

I think Kurnia would be a reasonable low cost option. Their basic MediGuard Premier policy (with Medical Card) costs about RM833 (Age 46-55) to RM1,100 (age 56-60) a year, or even less without the Medical Card.
See: Kurnia.com - Malaysia - MediGuard Premier

As BB says, with a little digging you can normally find the product details and prices on the various insurers websites' . Sometimes you'll need to download a PDF of the product brochure to see the prices.

However, as you are not going to be living in Malaysia much over the next two years you may find that MM2H/Immigration will accept proof of a worldwide travel insurance policy which may be a more practical and useful option for you.

You would probably need it to be an annual policy, ideally with 12 months to run, and it would need to show that you are covered in Malaysia. I think a worldwide policy excluding North America (i.e. to reduce the cost) would be OK. Probably the best thing to do is to call the MM2H office and ask.

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Last edited by JC3; Mar 1st 2015 at 5:50 am.
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Old Mar 1st 2015, 8:49 am
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Default Re: MM2H Medical Insurance

Originally Posted by JC3 View Post
However, as you are not going to be living in Malaysia much over the next two years you may find that MM2H/Immigration will accept proof of a worldwide travel insurance policy which may be a more practical and useful option for you.
When I received MM2H, albeit a few years ago, I only had travel insurance. I tried to buy substantial insurance to ensure qualification but, as I was over 70, it was rejected. They accepted both my wife's and my own travel insurance for MM2H so long as it was world-wide.... or ASEAN, but not excluding Malaysia.
My feeling is they are not very demanding in this area as they have a lien on your FD.
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Old Mar 1st 2015, 10:16 am
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Default Re: MM2H Medical Insurance

Originally Posted by Davita View Post
When I received MM2H, albeit a few years ago, I only had travel insurance. I tried to buy substantial insurance to ensure qualification but, as I was over 70, it was rejected. They accepted both my wife's and my own travel insurance for MM2H so long as it was world-wide.... or ASEAN, but not excluding Malaysia.
My feeling is they are not very demanding in this area as they have a lien on your FD.
I was under the impression that, if you are over 60, then health insurance is not necessary for MM2H.
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Old Mar 1st 2015, 10:38 am
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Default Re: MM2H Medical Insurance

Originally Posted by InVinoVeritas View Post
I was under the impression that, if you are over 60, then health insurance is not necessary for MM2H.
I was also informed a reject letter from an insurance company, due to age, would suffice.
We just happened to have world travel insurance for both of us and that was accepted.
I think the point is...the requirement for Medical Insurance to qualify for the MM2H is not onerous nor complicated.
If residing in Malaysia, or any country without national health care, it is prudent to have good health insurance....or have sufficient finances to carry the risk oneself.
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Old Mar 1st 2015, 4:23 pm
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Default Re: MM2H Medical Insurance

Originally Posted by InVinoVeritas View Post
I was under the impression that, if you are over 60, then health insurance is not necessary for MM2H.
The current wording on the guidelines document that comes with the provisional letter states
Original and copy of medical insurance (applicant and dependents) including insurance policy/receipt of payment/letter from the insurance company - compulsory for applicant/dependent age below 60 years old and optional for applicant/dependent over 60 years old.
I don't think that the optional bit means you can choose, you will need a rejection letter. And unless you are very unhealthy just about the only way to get that is to apply for medical insurance from a company that only takes on new customers below the age of 60. If you have any sort of medical history the insurers will try to use this to exclude as many potential claims as they can get away with. If you are not careful you can end up paying a high premium for not much cover.
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Old Mar 1st 2015, 11:07 pm
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Default Re: MM2H Medical Insurance

I just checked and for my MM2H application I wasn't asked to provide any health insurance or rejection letter. I would therefore interpret optional as meaning it is my choice if I take health insurance or not. My wife, who is under 60, had to provide proof of cover.
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Old Mar 2nd 2015, 3:40 am
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Default Re: MM2H Medical Insurance

IVV can you be more specific here. Did you go to Putrajaya with no insurance and no rejection letter?
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Old Mar 2nd 2015, 9:13 am
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Well, an agent dealt with the application for me and their checklist simply said "Health insurance - not required for applicants over 60" so therefore I didn't provide anything at all.
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Old Mar 2nd 2015, 11:04 am
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Default Re: MM2H Medical Insurance

Thank you, that could be very good news for me as I am having trouble getting insurance under reasonable terms due to an illness I had as a child. Kurnia didn't reject me but the offer had so many exclusions the insurance was almost worthless.

I will contact the MM2H office for a definitive answer and post the reply.
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