My wife received her Great Eastern hospitalization and surgical insurance renewal notice a few days ago. The policy was purchased through the National Union of the Teaching Profession (NUTP) since 2002. It covers everyone in the family including all the children.
Initially, we only need to pay RM588 annually, but they increased the premium to RM744 in 2006 – a 26.5 % increment. The notice of premium increment came with the following points to stress the benefits of this policy:
- Single rate for those whose age are between 18 to 55 (No increment of premium according to age of policy holder until they reach the age of 55).
- Children are covered free of charge.
- No 10% co-insurance - means the policy holders have to bear 10% of each claim.
- No life-time limit.
- Annual limit of RM100,000.00.
- Compensation of RM50,000 for each disability for each member.
- Medical card can be renewed until 65 years old.
Considering the benefits provided, we were still happy to bear the 26.5% premium hike.
To be continued and see you next post :-)
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