top of page
Search

What is a Deductible?

Updated: May 18, 2020

Deductible is a complex insurance jargon. Many people shy away from complex insurance jargons.

Spend a few minutes to understand what is a deductible. It will save you a lot of money.

Insurance products with deductibles have lower premiums. Insurance agents typically advise you against products with deductibles. Lower premiums lead to lower commissions for insurance agents.


AXA eMedic comes with a deductible option. You can select a RM 1,000 deductible. Your premiums will reduce by around 20%.


As an example. Mr Z was hospitalised. The bills amounted to RM 20,000. Mr Z selected RM 1,000 deductible. Mr Z could only claim for RM 19,000. RM 1,000 is deducted from the claims.


If the bills amounted to RM 500 instead. This is less than the deductible of RM 1,000. The insurance company would not pay any claim.


Do you understand what is a deductible?


Should you choose the deductible option?


HINSURTECH can help you with this decision. Click here.

bottom of page