What is MHI?
A MHI policy is generally designed to cover the cost of private medical treatment, such as the cost of hospitalisation and healthcare services, if you are diagnosed with covered illnesses or have had an accident.
Why should I buy a MHI policy?
A MHI policy will help you to pay for the various hospitalisation and medical expenses that you will incur, if you become ill or injured. These expenses will include hospital room and board, professional and surgery fees and medical supplies and services. A MHI policy will also help you if you are not able to work because of illness or injury.
Types of MHI policies
There are four main types of MHI policies:
- Hospitalisation and surgical insurance provides for hospitalisation and surgical expenses incurred due to illnesses covered under the policy.
- Dread disease,or critical illness insurance provides you a lump sum benefit upon diagnosis of any of the 36 dread diseases or specified illnesses.
- Disability income insurance provides an income stream to replace a portion of your pre-disability income when you are unable to work because of sickness or injury.
- Hospital income insurance pays you a specified sum of money on a daily, weekly or monthly basis, subject to an annual limit, if you have to stay in a hospital due to covered illness, sickness or injury.
An insurance company may offer you these products individually or in combinations. You need to be very careful when choosing one to suit your needs and therefore, always take time to discuss with the insurance company or its agent about the MHI policy that you are planning to buy.
Please read more about Life Insurance in the following site:
http://www.liam.org.my/cms/cms_pdf/bookmedical.pdf
If you would like to have more information on Life Insurance, kindly email shpoh88@gmail.com.
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