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The possibility to save on tax  or additional lifetime health cover charges  for those people affected is often a compelling enough reason to purchase health insurance, but what else should you consider?

Without health insurance, you may not be able to afford expensive medical services when you need them. Do you really want to be significantly out of pocket when you are sick?

Some of the top reasons people get health cover are listed below:

Health insurance may be able to pay for “lifestyle” services that you use often

Many people do not realise that you may be able to claim part of your insurance. Especially those who have their company coverage.  Please check the policy details for services covered, including any relevant restrictions or conditions, limits, and waiting periods. THERE IS certain limit for insurance company. That why we need personal Health Insurance can cover us!!!.

Get health insurance cover – you could save $$ on tax

For most singles with a taxable income over $84,000 ($168,000 for couples, families and single parents) the government will charge an extra 10% in tax.

For personal insurance plan you can claim rebate under income tax which are:

1)     RM7000 for  life insurance

2)     RM3000 for  health and education plan

The government will then waive and the rebate depending on the period you hold cover and the type/level of cover held, and you could walk away with a great health insurance policy! So why you still thinking on it!!!

Can you afford to “self” insure?

Studies have shown that having health insurance can be a much cheaper option in the long run for some people.

For example – Self funded knee surgery could set you back up to $13,000 – to save this money before the surgery may be IMPOSSIBLE for some. So don’t be stupid. Work smart not work hard!!!.

If in the future, you find out that you need knee surgery (or some other elective treatment), you will need to have the right cover in place, and to have served any relevant waiting periods, or else you may have no option but to save for the surgery.

Waiting Periods; How long do you want to wait to be treated?

Are you prepared to stay on waiting lists for long periods to be treated in the public system?

With private hospital insurance you have a much greater chance of having your choice of doctor. If you’re admitted as a public patient, the hospital assigns a doctor to you.

So which one you want to choose you wait for doctor or doctor wait for your????? Think for yourself!!!

Company limit!!!!

Company coverage only covered if you work with the company….until when?? Of course by 50 your already retire.  Then what will happen? You start need medical attention.

For normal PRU BSN Takaful we covered you until 100years. So you don’t have to think about your own cash money. So be smart people.

To find out more about medical saving insurance. Do contact us at @ 0123218966

Zulkarnain

Wealth Planner and Financial Advisor Prudential BSN Takaful Berhad