When the economy is bad, unemployment rate increases. Many people are jobless. They have no income but they still need to eat. If they still can't find a new job, some of them will be forced to commit crimes like robbery, snatch and others. As a result, crime rate will increase. When crime rate increases, our safety will be threatened. We may become the next victims of robbery and snatch.
Of course, having an insurance plan doesn't reduce crime rate in Malaysia. But, it at least helps us to cover our medical bills when we are injured due to an accident, robbery and snatch.
In sum, it is not wise to terminate our insurance plans when the economy performs badly. If we really can't afford it, we can try to reduce our annual premium by reducing our coverage.
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I have a question. I'm enrolled in the ExcelPlus plan from AIA from some years back. What I'd like to know is whether I can get back any money if I decide to terminate the plan, and what determines the surrender value?
ReplyDeleteHi.
ReplyDeleteIs it ExcelCare Plus Plan?
For a medical card, there is no cash value and surrender value. However, you can get refund of annual premium of the current year, depending on how long it has been in force.
Can you give me your personal email so that I can email you the details on how much money you can get back?