Best insurance plan Malaysia Medical life insurance guide

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Looking for the best insurance policies in Malaysia? Which is the best medical card/insurance in Malaysia, are investment-linked plans better or term plans? After comparing plans from the top insurance companies in Malaysia, here's what I've found: • 3 major insurance types: • 1. Medical card/insurance (covers your medical/hospital bills) • 2. Life/TPD (cash payout if you die or are permanently disabled) • 3. Critical illness coverage (cash payout if you die or are permanently disabled) • How much coverage do you need? • 1. Medical (Important throughout your life - Annual limit RM500k-1.3mil; no lifetime limit; 200 R B) • 2. Life/TPD (Important up until financial freedom - Min 10X your annual salary - max [annual expenses/5%]- [net worth] • 3. Critical illness coverage (Important up until financial freedom - 1-3X your annual salary) • What plans should I choose? • 1. Standalone/term plans (if you are on a tight budget, or for life/TPD/critical illness coverage for a fixed period of time) • 2. Investment-linked plan (if you plan to maintain coverage for a long time, especially for medical coverage) • What did I choose? • I chose a basic investment linked plan that focuses on medical coverage only. Still debating whether or not I need life/TPD or critical illness coverage - if I go ahead, it will probably be in the form of a 10-15 year term plan. AIA provided the best coverage at a very competitive cost, Prudential came in as a close second for my personal requirements. • I am not an insurance professional, so do consult with an insurance agent before making a decision. Insurance plans are long term commitments, so do shop around and do your research before speaking to insurance agents - not all of them will have your best interest in mind! • Timestamp: • 00:00 Introduction • 00:45 How insurance works • 01:26 Types of insurance coverage • 02:43 Medical insurance - what to look out for • 04:52 Life/TPD - ideal coverage • 07:35 Critical illness - ideal coverage • 09:03 Types of insurance plans • 09:35 Term insurance (standalone plans) • 11:30 Investment-linked plans • 14:01 Best insurance plans

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