2022 Malaysia Critical Illness Cover Calculator

Malaysia Critical Illness Cover Calculator

Critical Illness Cover Calculator

When you're ill you want to focus on getting better - not worry about your medical expenses. Critical illness cover gives you peace of mind that if you fall ill you will be able to cope financially. To find out how much cover you might need, use our handy calculator below.

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Treatment in Singapore
RM630,540

*Data Source

Treatment in Malaysia
RM400,000

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Frequently Asked Questions About Critical Illness Cover

What is Critical Illness Cover and how does it work?

Critical Illness Cover is a type of insurance that provides a lump-sum payment if the policyholder is diagnosed with a critical illness listed in the policy. It helps policyholders financially cope with the costs associated with a critical illness, such as medical expenses and lost income. The policyholder pays premiums, and if they are diagnosed with a covered illness, they receive a tax-free payment to use as they see fit. The policy typically ends after the payment is made and the policyholder is not required to pay any more premiums.
Who is eligible for Critical Illness Cover?

Typically, individuals who are in good health and within a certain age range are eligible for Critical Illness Cover. Eligibility criteria may vary among insurance companies, but usually include age limits, medical history, and lifestyle factors. Some insurance companies may also require a medical exam or health questionnaire to determine eligibility. The exact eligibility criteria depend on the specific policy and insurance company, so it's important to check with the provider for more information.
What illnesses are covered under Critical Illness Cover?

The exact list of illnesses covered by Critical Illness Cover policies may vary among insurance companies. However, some common critical illnesses that are usually covered include heart attack, stroke, cancer, kidney failure, major organ transplant, and paralysis. Some policies may also cover lesser known illnesses such as multiple sclerosis, Alzheimer's disease, and Parkinson's disease. The list of covered illnesses depends on the specific policy, so it's important to review the policy details and check with the insurance provider for a full list of covered illnesses.
What is the waiting period for Critical Illness Cover benefits?

The waiting period for Critical Illness Cover benefits is the amount of time that must pass after the policy has been purchased and before the policyholder is eligible to make a claim. This waiting period is usually 30, 60, or 90 days, but may vary depending on the specific policy and insurance provider. During this waiting period, the policyholder is not eligible to make a claim, even if they are diagnosed with a covered critical illness. The waiting period is designed to prevent fraud and ensure that policyholders have time to fully understand their policy coverage before making a claim. The exact waiting period will be specified in the policy details, so it's important to review the policy before purchasing.
Can I still get Critical Illness Cover if I have pre-existing medical conditions?

It may be possible to get Critical Illness Cover if you have pre-existing medical conditions, but the availability and terms of coverage may be affected. Some insurance providers may decline coverage for pre-existing conditions, while others may provide coverage with exclusions for specific illnesses or conditions. The availability of coverage for pre-existing conditions depends on the specific policy and insurance provider, as well as the nature and severity of the condition. In some cases, the policyholder may need to undergo a medical exam or health questionnaire to determine eligibility for coverage. If you have pre-existing medical conditions, it's important to disclose this information to the insurance provider and discuss your options for coverage.

Critical Illness Coverage

Health is your greatest asset. So, just like you’d get auto insurance to protect your car or home insurance to secure your landed property, you need critical illness insurance. The challenge becomes identifying just how much critical illness covers for medical expenses you need. It is where our critical illness insurance premium calculator becomes very important. However, before using this insurance coverage calculator to its fullest potential, you need to know more about critical illness cover.

Understanding Critical Illness Insurance

Critical illness insurance shouldn’t be confused with health insurance or term life insurance coverage. While the insurance cover may be similar to health insurance, what you can leverage it for is vastly different. More accurately, critical illness insurance is the type of coverage you get when someone is suffering from a medical or natural condition that has been deemed to be life-threatening. This long-term insurance cover is typically extended to 36 different critical illnesses in Malaysia. However, there are 42 illnesses officially recognized as essential that you’re entitled to get coverage for in the country. Some of these diseases include severe dementia, cardiomyopathy, end-stage liver failure, and full-blown AIDS, to mention a few. Naturally, when you aren’t feeling well, all you can focus on is how you’re going to get better. Critical to this goal is proper fund management where your insurance policy is concerned. At Fimcrew.my, this is one of the areas we thrive.

How Fincrew Critical Illness Cover Calculator Work?

The process is simple, stress-free, and fast. It has everything you need to know about the financial aspect of your critical illness insurance cover in seconds. All you need to get this information is to supply the value of your monthly income and the class of ward or treatment you want to get in the appropriate fields. Once you’ve done this, an estimate of what portion of your annual income you would need to cover your treatment will be displayed. This lump sum value will be extensively comprehensive as it’ll include things like the cost of initial treatment and other variables like follow-up and out-patient treatment expenses. Properly planning for your future isn’t possible if you don’t consider the potential expenses you’ll have to cover along the line. Doing this the old way is time-consuming and may lead you to make mistakes due to oversight or not having the most relevant update on several aspects of critical illness insurance cover. Using our insurance coverage calculator, you get the financial breakdown of the costs of the treatment you need to get better. This way, you know just where you’re going, and you can quickly figure out how to get there.

Why Use Fincrew Critical Illness Cover Calculator?

Many people still opt to do it by hand, freestyle or rely on word of mouth when learning how to calculate insurance coverage. These things don’t help you get where you want to be. But by using our critical illness insurance premium calculator, you’re afforded:

Fast calculation on what your premium will be.
No errors in calculation.
Superior ease of premium comparison.
More excellent value for your money.

Taking The First Step

When you and your loved ones have healthy bodies, it’s easier to plan for a better and brighter future. Using our calculator, you can eliminate every uncertainty when getting the proper critical illness protection. Still, to ensure that Malaysians get the better life they work for every day, we give you much more than just a critical illness cover calculator. You can also leverage several of our other calculators, which you can use to estimate the life insurance premium or road tax you have to pay. While these tools mightn’t immediately appear, they are valuable resources you can leverage to make more judicious use of your precious funds.

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