Medical Plan Revisions

The medical plans that are affected are:         

          1) MaxHealth Plan (Conversion)
          2) MaxHealth Premium Paying Rider (Conversion)
          3) MediHealth Unit Deducting Rider (Conversion)

To get a better understanding on the revision of medical plan premiums, we would advise you to read the FAQ.

1. Why are my medical insurance premium/insurance charges being increased?

Medical costs rise annually. Primarily due to an increase in service costs of healthcare providers as well as higher costs involved with the advancements in treatments available. This and the increased usage by policyholders increases the claims paid out by insurers. To ensure that we can continue to offer you a sustainable and comprehensive coverage, we review our medical plans and this may result in upward premium/insurance charges revisions.

2. I have not made any claims on my medical policy. Why am I subjected to this increase?

Medical insurance operates on a risk sharing basis in which the combined insurance premiums/insurance charges for the pool of policyholders are collected and utilised for payment of claims. As such, revisions to the insurance premium/insurance charges will be applicable to all affected policyholders.

3. How is the increase in premium/insurance charges for my individual policy determined?

We take into account a number of factors, such as the claims experience of policies with similar characteristics (example – age, gender, product, etc.). We also take into account of medical cost trends.

4. When will the new premium rates/insurance charges take effect?

The new premium rates/insurance charges will take effect from your next Policy Anniversary date falling on or after 1st June 2022.

Example 1: Policy Anniversary falls on 1 Dec 2021. The new premium rate/insurance charges will be effective from 1 Dec 2022.

Example 2: Policy Anniversary falls on 29 January 2022. The new premium rate/insurance charges will be effective from 29 January 2023.

5. How does this revision impact my insurance policy?

For Standalone Medical Plan or policy with premium paying medical rider, your premium or medical rider premium will be revised with repriced rates. You will have to pay the revised premiums on the next policy anniversary to continue enjoying the policy benefits.

For an investment linked policy with medical unit deducting rider, the revised insurance charges will be deducted from your policy account value. If you do not change your premium or regular top-up premium, your policy may not be sustainable until policy expiry should there be insufficient account value to deduct charges. Hence, we strongly encourage you to top up your premium or increase your top-up amount as recommended in the notification letter to ensure your policy does not lapse early.

6. I have an investment linked-policy with medical unit deducting rider, will my insurance coverage sustain until the end of the policy term if I pay the suggested new premiums?

By paying the amount stated in the Investment-Linked Policy Sustainability Disclosure that is attached to your notification letter, your policy is expected to sustain until the end of the policy term. However, please bear in mind that your policy’s sustainability is impacted by investment returns and your own actions (such as account withdrawals or payment holidays). Please refer to the said disclosure for details. You are also advised to refer to the Sustainability Letter append to your Annual Statements in future for annual updates on the sustainability of your policy and the options that may be available.

7. Are there any changes to my benefits?

There are no changes to your policy benefits.

8. Do I have other options besides paying the revised premium?

If affordability is a concern, you have the following options:

a)    Temporarily switch to a lower priced plan and then revert to your original plan at the repriced rates (without further underwriting) within the permitted time. For further info on this option, please refer to the FAQs linked above.

b)    Permanently downgrade within your existing plan. Downgrading can be done without further underwriting.

c)    You may opt to include a deductible feature to your policy (if applicable) to lower your premium/insurance charges.

You should assess the benefits under these options to ensure the chosen plan is sufficient to cover your medical insurance needs. Kindly contact your servicing agent or MCIS Customer Service representative if you wish to know more about these or any other options available.

9. I am on PLAN150 and wish to downgrade. What are the options available to me?

For those on PLAN150, you can switch to our alternate downgrade product that has a deductible feature. You will need to pay the first RM 3,000 out of any eligible medical expenses that is payable on your medical claims.

Kindly contact your servicing agent if you wish to know more about this or any other options available.

10. What happens to my benefits if I downgrade the plan?

You may switch your current medical plan to a lower medical plan that suits your protection needs and affordability. However, we wish to remind you that any changes to your plan will have an impact on your coverage i.e. reduction in benefit amount. Kindly contact your Servicing agent or MCIS Customer Service representative for more information.

11. My policy is under waiver status (premium payment waived), will this revision increase my premium?

If your basic policy is under waiver status, but your medical rider premium/charge is not eligible to a waiver (depending on your policy terms and conditions), then you will need to pay the new medical rider premium.

For investment-linked policies with a medical premium paying rider that is under waiver status, the medical rider premium will be revised and the difference is not covered by the waiver rider. Therefore, you are still required to pay the difference in premium amount to continue to enjoy your insurance coverage.

12. I have a waiver/payer benefit rider attachable to my policy, will the rider sum assured be affected by this revision?

Please note that you need to refer to your policy terms and conditions to determine if medical premiums are covered by the waiver /payer benefit rider.

If your policy does cover medical premiums to be waived, and if the waiver/payer benefit has not been activated, then your waiver / payer sum assured will be revised to the proposed new premium.

Kindly contact your Servicing agent or MCIS Customer Service representative for more information.

13. How often will my insurance premiums change?

Premium reviews are a commercial decision undertaken by the company. We perform regular reviews on our medical portfolio to ensure policyholders enjoy uninterrupted coverage for their medical needs. Should there be any other revisions in future, we will notify policyholders accordingly.

14. Will the premium be the same if I cancel the current policy and take up a new plan?

The premium is based on a few factors such as your current occupation, health and age, which may be different when you originally took up the policy. It also differs by the benefits offered under the new plan.

15. Would it be possible to cancel my medical card and continue with my life coverage?

Yes, it is possible. However, there are other options for you to consider.

You can still maintain the medical card and downgrade the room & board allowance to a lower amount. This will allow a lower premium at a reduced coverage amount.

16. What is the consequences of discontinuing or terminating my existing coverage?

If you discontinue your existing coverage, you may bear the following consequences:

a)    No medical coverage – you will lose out on the coverage and the benefits that are provided under the existing plan.

b)    Go through the buying process again – if you choose to discontinue the existing coverage and later decide to purchase the policy again, you will be required to undergo the full process once applicable to new policies. This includes a new medical examination and having a new waiting period apply to your policy. Moreover, the rates that apply may be different to the current rates. You should therefore carefully assess if discontinuing your coverage is suitable for you or consider other available options (refer to Question 8).

17. How much am I required to pay if my policy has lapsed, taking into consideration the medical repricing?

You will be required to pay all outstanding premiums with all interest accrued including the new premium, along with the Health Declaration Form for processing in order to continue enjoying coverage. Please submit the duly completed Health Declaration Form to medicalplans@mcis.my

18. I would like to change to a more convenient payment method. What are my options?

We offer you several convenient payment methods as follows:

• If you have a Maybank or Bank Simpanan Nasional account, we can facilitate an automatic deduction from your bank account. You may send us the following details via e-mail to medicalplans@mcis.my and we will arrange for the automatic deduction.

          Name of account holder
          Account number
          Bank or Branch number

• If you want to use your Credit Card, please complete the Credit Card Deduction form and send to medicalplans@mcis.my.

19. Who should I contact if I need further information?

You may contact your servicing agent for any enquiries or our Customer Contact Centre at +603 7652 3388 or e-mail us at medicalplans@mcis.my

20. Who should I contact to file a complaint?

Complaints should preferably be made in writing and delivered to us by hand, post, or email. Attention the complaint to:
Complaints Officer, Complaints Unit,
Tower 1, Level 2, Wisma MCIS,
Jalan Barat, 46200 Petaling Jaya,
Selangor Darul Ehsan
Tel: 03 7652 3388 (General Line) Ext 3579
03 7652 3579 (Direct Line)
E-mail: info@mcis.my

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We are also pleased to announce an additional support to customers whose medical plans are being repriced by allowing the ability to temporarily switch to a lower priced plan for a limited time. Click here to read the FAQs.

The medical plans that are affected are:         

          1) IL Maxhealth Rider
          2) I-Linked MediHealth Rider

To get a better understanding on the revision of medical plan premiums, we would advise you to read the FAQ.

1. Why are my medical plan’s insurance charges being increased? 

Medical costs continue to rise annually, driven by increase in healthcare provider’s service cost and more advanced treatment options. At MCIS Life, we regularly review healthcare costs to ensure your coverage remains sufficient, potentially resulting in adjustments to insurance charges.

2. I have not made any claims on my medical plan. Why am I subjected to this increase? 

Medical insurance operates on a risk sharing basis, where the insurance charges from all policyholders /policy owners are pooled together for payment of claims. As such, revisions to the insurance charges will be applicable to all affected policyholders /policy owners.

3. How is the increase in insurance charges for my medical plan determined? 

We consider several factors including claims experience from policies with similar characteristics like age, gender, product, etc, and this includes medical inflation as well.

4. When will the revised insurance charges take effect? 

The revised insurance charges will take effect from your next Policy Anniversary date falling on or after 1^st July 2024.
 
Example 1: Policy Anniversary falls on 1 Dec 2024. The revised insurance charges will be effective from 1 Dec 2024.
Example 2: Policy Anniversary falls on 29 June 2024. The revised insurance charges will be effective from 29 June 2025.

5. Are there any changes to my policy benefits?

There are no changes to your policy benefits.

6. How does this revision impact my insurance policy? 

Investment-linked policies with medical unit-deducting riders will have revised charges deducted from the Policy account value. You are encouraged to pay the new revised premium or top up as recommended in the Investment-Linked Policy Sustainability Disclosure.

7. I have an Investment-Linked Policy with medical unit deducting rider, if I pay the recommended new revised premiums, will my insurance coverage sustain until the end of the policy term?

By paying the amount stated in the Investment-Linked Policy Sustainability Disclosure that is attached to your notification letter, your Policy is expected to sustain until the end of the policy term. However, please bear in mind that your Policy’s sustainability is impacted by investment returns and your own actions (such as partial withdrawals from account value or premium holidays). Please refer to the said disclosure for details. You are also advised to refer to the Investment-Linked Policy Sustainability Disclosure append to your future Annual Statements for annual updates on the sustainability of your Policy and the options that may be available.

8. Do I have other options besides paying the new revised premium?

If affordability is a concern, you have the following options:

1. Temporarily switch to a lower-priced plan and then revert to your original plan at the repriced rates (without further underwriting) within the permitted time. For further info on this option, please refer to page 5 of this document.
2. Permanently downgrade within your existing plan. Downgrading can be done without further underwriting.
3. You may opt to include a deductible option to your medical plan to lower your insurance charges.

You should assess the benefits under these options to ensure the chosen plan is sufficient to cover your medical insurance needs. Kindly contact your Servicing Agent or MCIS Life Customer Contact Centre or visit our branch office nearest to you if you wish to know more about these or any other options available.

9. I am on a plan with the lowest Room & Board amount, but I wish to downgrade. What are the options available to me?

For those on the lowest Room & Board amount, you can switch to our alternate plan that has a deductible option. In the event of a claimable eligible expense, you will need to pay a fixed amount (which is equivalent to the deductible amount selected) of the total eligible expense incurred. The remaining balance, if any, will be payable by MCIS Life, subject to the Overall Annual Limit.
 
Kindly contact your Servicing Agent if you wish to know more about this or any other options available.

10. What happens to my benefits if I downgrade the plan?

You may switch your current medical plan to a lower medical plan that suits your protection needs and affordability. However, we wish to remind you that any changes to your plan will have an impact on your coverage i.e. reduction in benefit amount. Kindly contact your Servicing Agent or MCIS Life Customer Contact Centre or visit our branch office nearest to you for more information.

11. My policy is under waiver status (premium payment waived), will this revision increase my premium?

For an Investment-Linked Policy with a medical rider plan attached and the policy is under waiver, the difference of increased premium will not be covered by the waiver rider. Therefore, you are required to perform single top up to pay the difference in premium amount to ensure policy sustainability until its expiry.

12. I have a waiver/payer benefit rider attachable to my policy, will the rider sum assured be affected by this revision?

If your policy has medical rider, and if the waiver/payer benefit has not been utilized, then your waiver/payer sum assured will be revised to the proposed new premium. As a result, your insurance charges of waiver/payer rider may increase.

Kindly contact your Servicing Agent or MCIS Life Customer Contact Centre for more information.
 
13. How often will my insurance charges change? 

The company conducts insurance charge reviews as a commercial decision. We regularly review our medical portfolio to ensure uninterrupted coverage for policyholders/policy owners' medical needs. Should there be future revisions, we will notify policyholders/policy owners accordingly.

14. Will the premium be the same if I cancel the current policy and take up a new policy?

The insurance charges is calculated based on certain rating factors such as current occupation, health condition, age, and plan that you've taken. It can be different to when the policy was first incepted. Therefore, an increase to the insurance charges may result in an increase of the premium that you are paying currently. This is to ensure your policy is sustainable until the end of term. Cancelling your current policy and opting for a new plan may not result in the same premium, as we would need to reassess your profile.

15. Would it be possible to cancel my medical plan and continue with my life coverage?

Yes, it is possible. However, there are other options for you to consider. You can still maintain the medical plan and downgrade the Room & Board allowance to a lower amount. This will allow a lower insurance charge at a reduced coverage amount.

16. What are the consequences of discontinuing or terminating my current medical plan?

If you discontinue your current medical plan, you may bear the following consequences: 

1. No medical coverage – You will lose out on the coverage and the benefits that are provided under the existing plan.
2. Going through the buying process again – If you decide to discontinue your current medical plan and later decide to repurchase the policy, you must undergo the entire process anew, as required for new policies. This includes a new medical examination and the application of a new waiting period to your policy. Additionally, the rates may differ from the current rates. Thus, it is crucial to thoroughly evaluate whether discontinuing your coverage is suitable for you or if you should explore other available options.

17. How much am I required to pay if my policy has lapsed, taking into consideration the medical repricing?

If your policy has outstanding premiums, then you are advised to pay all the premium in arrears. You are also required to complete the Declaration of Good Health and send to us for our onward processing.
 
18. I would like to change to a more convenient payment method. What are my options? 

There are several convenient payment methods available, as follows: 

• If you have a Maybank or Bank Simpanan Nasional account, we can facilitate an automatic deduction from your bank account. You may send us the following details via e-mail to medicalplans@mcis.my and we will arrange for the automatic deduction.
  • Name of account holder
  • Account number
  • Bank or Branch number 
• To use Credit Cards, please complete the Credit Card Deduction Form and send to medicalplans@mcis.my. 

19. Who should I contact if I need further information?

You may contact your Servicing Agent for any enquiries or our Customer Contact Centre at +603 7652 3388 or email us at medicalplans@mcis.my.
 
20. Who may I contact to lodge a complaint? 

Complaints should preferably be made in writing and sent to Complaint Handling Unit by hand, postal or e-mail. Please address the complaint to:
 
Complaints Officer
Complaint Handling Unit
MCIS Insurance Berhad
Wisma MCIS Jalan Barat, 46200 Petaling Jaya
Tel No: 03-7652 3388
E-mail us at: complaint@mcis.my

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We are also pleased to announce an additional support to customers whose medical plans are being repriced by allowing the ability to temporarily switch to a lower priced plan for a limited time. Click here to read the FAQs.