What to look for when looking at the cheapest medical coverage

If you are shopping around for Medical Takaful, chances you will found that some plans are really cheap. Some are relatively expensive. Aside from the Room & Board, Cashless Admission, and Annual Limit, this factor should be taken into consideration too.

It is either Step Up or Level contribution. The differences between the two is for Step Up, you will contribute relatively less amount than Level contribution at your initial years. However, the contribution amount will become higher when you becomes older.

For Level contribution, you will contribute a higher than Step up contribution during the initial term of your policy. Considering all factors remain the same (No medical repricing and no excessive use of Tabarruq fund), you will pay the same amount until the end of the policy.

So, before commiting to contribute a policy, ask your takaful agent for this and get better understanding before making decisions.

P/s: Don’t forget that we are not paying “premium” for the coverage. Instead, we are contributing to a fund that will protect others that are in need. This is a takaful is all about.