Best Medical Insurance

Medical insurance helps cover the cost of hospitalisation and treatment, or helps you financially if you experience an illness or an accident.

With a medical insurance plan, the payout doesn’t go directly to you. Instead, the payout will be used to cover your hospital bills.

Every adult needs medical insurance coverage. Medical costs are high and are increasing every year. A medical insurance policy will help pay for the costs of medical treatment or hospitalisation, so you don’t have to pay these costs out of your own pocket.

The most popular type of medical insurance is hospital and surgical – you may also know it as a ‘medical card.’ Other types of plans may give you a lump sum payout.

The cost of medical insurance depends on your individual age, health risks and your chosen product's coverage and terms. The cost can range from RM100 to over RM300 per month on average.

There are two types of medical cards: a standalone medical card, and a medical card rider. Here are some of the differences:

Getting a medical rider that comes with an investment-linked life insurance policy can be a good idea if you have dependents who rely on you financially, or if you need an all-in-one life and medical plan that covers your family too.

Benefits vary from one product to the next. Medical insurance can help to:

• Cover the costs of treatment or surgery when you are admitted to a hospital
• Cover the costs of medical emergencies
• Get a specific amount of income (e.g. RM100) for each day you are hospitalised
• Covers pre and  post-hospitalisation expenses for covered medical services

Medical costs are high, and they are increasing every year. A medical insurance plan helps you cover these costs. 

When choosing medical insurance, remember that some policies don’t cover pre-existing conditions, so make sure to check the fine print or ask your agent before subscribing.

To choose the right medical insurance, you should look out for:

    1. Enough coverage. 

The plan should be sufficient to cover your treatment costs. If you are an employee, you may have company medical insurance, but it will come with limits in coverage.

    2. Affordability. 

Have a budget in your mind. Some plans come with increasing premium as you age, while some are maintained throughout. It would be wise to take note of this to prevent getting a shock later. 

    3. Claims process.

Take note of what is covered and not covered under your policy. Know all the documents and forms you need to submit to the insurer.