Malaysia Insurance
Dimension
Option 1
Option 2
Insurance
Medical
Life
Investment Type
Conventional (Investment Linked)
Takaful
Therefore there are 4 options:
Medical
Life
Conventional:
Medical Conventional
Life Conventional
Takaful:
Medical Takaful
Life Takaful
    1.
    Medical Conventional
    2.
    Medical Takaful
    3.
    Life Conventional
    4.
    Life Takaful

Considerations

    Requires long term thinking
      Have to beat inflation rate

Medical / Life

Medical

    1.
    Basic Sum Assured (Death Benefit)
    2.
    Critical Illness Benefit
    3.
    Accidental Death, TPD, or Dismemberment
    4.
    Annual Limit
    5.
    Lifetime Limit
    6.
    Deductible Amount
    7.
    Early Payout Critical Care
    8.
    Hospital Room and Board Benefit
    9.
    Intensive Care Unit Benefit
    10.
    In-Hospital Related Fees
    11.
    Pre-Hospitalization Benefit
    12.
    Post-Hospitalization Treatment Benefit
    13.
    Outpatient Kidney Dialysis Treatment Benefit and Out-patient Cancer Treatment Benefit
    14.
    Day Care Procedure and Surgery Benefit
    15.
    Emergency Accidental Out-patient Treatment (Inclusive Dental) and 30 days Follow-up Treatment
    16.
    Optical Support - Intraocular Lens
    17.
    Specified Maternity Complications Benefit
    18.
    Out-patient Dengue Fever Treatment Benefit
    19.
    Home Nursing Care Benefit
    20.
    Emergency Medical Evacuation and Repatriation
    21.
    Prevention Benefit
    22.
    Special Care Benefit
    23.
    Recovery and Support Benefit
    24.
    Recovery Care
    25.
    Mental Health Benefit

Life

    1.
    Basic Sum Assured (Death Benefit)
    2.
    Total Permanent Disability (TPD)

Conventional / Takaful

Conventional

Investment linked insurance.
    For Muslims, payouts for death can be contested by next male of Kin under Faraid law.

Takaful

a type of insurance system devised to comply with the sharia laws, in which money is pooled and invested...Conventional insurance is considered a form of gambling.
    No interest on death payout
    For Muslims, payouts for death cannot be contested
      Payouts for death are considered "gifts"
References:

Insurance Companies

Life Insurance Association of Malaysia (LIAM)

Members of LIAM:
    3.
    AmMetLife Insurance
    4.
    6.
    Gibraltar BSN Life Berhad
    8.
    Hannover Rueck SE
    9.
    Hong Leong Assurance
    10.
    Malaysian Life Reinsurance
    11.
    Manulife Insurance
    12.
    MCIS Insurance
    13.
    Prudential Assurance
    14.
    Sun Life Malaysia
    15.
    Tokio Marine Life
    16.
    Zurich Life Insurance

Others

    2.
    Fi
      2.
      Underwritten by Tokio Marine
Last modified 1yr ago