Majority of us today are aware of the importance of having a medical card. There are many medical card packages available in the market, so how do we as consumers choose the best package? If we want to buy a car, we can compare the technology, the engine power and safety features. If we want to buy a computer, we can compare the speed, design and its chip. If we want to take a medical card, what are the features that we can compare?
Typically, we will compare prices first, how much is the monthly contribution, which is the cheapest? Yes we need to take a takaful plan that we can afford, however the main factor should be the benefits that you will get. Let’s look at the important things to look for in a medical card.
|Year||Treatment Cost||Overall Lifetime Limit Balance|
Which is more important? Annual limit or overall lifetime limit?
Generally, you may not need to use the medical card to the maximum every year. You also need to know that medical inflation is high around 10% every year. Therefore, treatment cost of RM50,000 today will increase to RM330,000 in 20 years with inflation rate of 10%.
So, it is important to choose high annual limit compared to high overall lifetime limit.
Choose a medical card that is most suitable based on your own needs and affordability. The most important thing is not to do comparison for too long and remain in the quotation stage.