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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
- Requires long term thinking
- Have to beat inflation rate
- 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
- 1.Basic Sum Assured (Death Benefit)
- 2.Total Permanent Disability (TPD)
Investment linked insurance.
- For Muslims, payouts for death can be contested by next male of Kin under Faraid law.
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:
Members of LIAM:
- 2.Allianz
- 3.AmMetLife Insurance
- 4.AXA Affin
- 5.Etiqa