Petronas gives unlimited medical coverage to their staff?

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I have many client from Petronas. Their medical coverage  is the best which is unlimited. No matter how much your treatment cost , Petronas will cover them. So, they still need an insurance or not?

The answer is YES. Why?

The coverage will be ended upon retirement.As you are retired at age 55, whose gonna pay for your medical expenses? Now you are unemployed with no income. Maybe you are retired as millionaire but instead of using your own money, that would great if somebody else paying for you. Thus, you can save your retirement fund for something else.

The common answer I received from Petronas staff is I will take insurance from you when Im retired later. Now Im fully covered, dont want to waste money.  Did you know how much the premiums charged for 55 years old person? From my experience, the premiums are at least RM650 per months. Can you afford to pay for this price later?

Are you eligible to have an insurance at 55 years old later?  80% of Malaysians, upon 55 years old, they diagnosed with various type of diseases. The most common are diabetes and kidney stone. When you are diagnosed various diseases , your application for an insurance will be rejected or you just wasting your money for an insurance as the diaseses you have will be not covered because it is pre-existing illness.

As conclusion, get an insurance when you are young and healthy. Never get comfortable with huge benefits from your company. I met many clients of at age 55, drop a tears when explaining to me how much he regrets not taking an insurance when he was young because he get too comfortable with company’s  medical coverage.

3 responses to “Petronas gives unlimited medical coverage to their staff?

  1. If any employee is sick for 1 day, he or she will take a medical leave and the employer will have to acccept his or her reason. when the same employee falls sick and unable to perform his work for 1 months, the employee may still be able to get MC or probably be on medical leave. But what do you think as an employer? would you want to continue employing an employee who always falls sick? probably 1 month, the employer may still tolerate but try having an employee who is on MC for 6 months. i believe the employer will definately find ways to stop him or her from working as having such an employee is a loosing cost to the company. i am sorry as my statement hurts the feeling of many employees especially those from petronas but lets face the real fact when it comes to business as the famous Donald Trumph use to say ” Business is business, nothing perosnal”. The choice lays in your hand of whether to have at least an insurance plan on your own or you could remain relying on the company’s insurance. company will always take group plan that cover only medical for amployees as it is cheaper than purchasing individual plan for all the employees. If we do take up a personal endownment or investment link plan, long term wise the policyholder will still benefit from it.

    To me, insurance is a contract between time and money. When a policyholder buys an insurance plan and if he ir she dies early, the beneficiary will get the benefit of the sum insured. sum insured is indeed money. and if the policyholder live longer after his retirement but still continue his or her insurance, end of the day he or she will definately gets his saving/cash value or u could say another retirement plan beside the EPF. that is also money. therefore, INSURANCE is money mah….

    Every smart driver will ensure he or she has a spare tyre with sufficient air in the tyre at the back of the car. However, we cant cant blame some “daredevil driver” who is alright not having a spare tyre. Are you a daredevil driver?

    If you are a daredevil, dont bother reading this website and dont bother buying any insurance plan.

  2. if you want to keep your PETRONAS clients, maybe you should rethink the way you write this entry.

    • my clients from petronas suggest me to do this post.. to ensure all Malaysian out there which have company benefits of medical coverage, to get an insurance when they are young and healthy and not to think insurance just another waste of money or you can get insurance later upon retirement .

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