Lady Specific Insurance – Do you really need it? ~ Gimmick or Necessity?

The insurance product is getting more complicated while it is already very confusing for many. Lady Specific Insurance is one of it. So, is it a necessity or rather just a gimmick from insurance company?

While I was “researching” to get more information about Lady Specific Protection plan, I found this article on Focus Malaysia and I believe it has addressed those issues that I thought of highlighting. Hence, I am sharing this article while adding some opinion of mine.

Original article : Lady’s insurance – gimmick or necessity?(http://www.focusmalaysia.my/Income/lady-s-insurance-gimmick-or-necessity)

Few points as highlighted in the article:

1. Overlapping Benefits

Most of the event has been covered by Critical Illnesses Plan and others like snatch thief, kidnapping & etc would had been covered by Personal Accidents.

2. Reconstructive Surgery

Yes, it will not be covered by most of the Hospitalisation & Surgical Plan (Medical Card), but again, you will get lump sum payment from Critical Illnesses Coverage or Personal Accident Coverage.

3. Special Events

Cash Payout for special events such as marriage, child birth & etc. This would be more to a “feel good” as the amount may not be significant in most of the cases. But maybe some will feel it is better than none.

4. Pregnancy & Maternity Benefits

This may be the one fine part of the Lady Specific Protection Plan that makes the most sense of all. – Maybe this is the part that should help you to really decide whether you need a Lady Specific Protection Plan.

In conclusion, Lady Specific Plan is more to a luxury option. Everyone should be well planned for the four core segment of Personal Insurance (Death, Hospitalisation, Critical Illnesses & Personal Accident) before considering this extra option.

Yes, many may not agree with this. Feel free to provide your opinion.

Feel free to email us to discuss further : ethanteh@moneysense.com.my

WhatsApp : https://bit.ly/2nRkxwD

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