We can’t really predict life – we need to be ready for anything. Hence, insurance policies and coverage are one of those necessary supports you need in your life in case anything happens. There are various types of insurance and coverage after disasters in Malaysia.
There are 4 types of insurance you can get in Malaysia. All these insurance brings in a lot of benefits such as annual premiums, policies, and terms. Therefore, they are not created equally, even when they are under the same type.
Moreover, insurance in Malaysia is affordable. For example, you can get life insurance for only RM20 – this plan is suitable for people who cannot afford to save a lot of money and students who cannot afford much as well.
Whichever insurance company you choose, you need to know the type of insurance of policies there is. Perhaps you might just buy all protection rider insurance plan Malaysia. Hence, read to find out more about the types of insurance that are available.
Health insurance is there to assist you in case of emergencies. You’ll benefit from it if you end up in the hospital without warning and need medical care and recuperation. Moreover, you can choose to have a medical card or critical illness financial support, or perhaps both if necessary. Your medical card might assist you in paying for expensive medical procedures. Meanwhile, critical illness financial support will provide you with financial security when you need them.
Your protection comes from this kind of insurance in the event of an unexpected demise, long-term disability, critical illness, or terminal disease. You are able to choose between term life insurance or whole life insurance.
A term life insurance policy will safeguard your family in the event of your untimely demise. In the event of anything, your family will receive cash benefits. On the other hand, a whole life insurance gives you lifelong protection.
Another name for this type of insurance is property insurance – this covers personal assets such as your house. There are three kinds to note for home insurance:
- Householder policy
- Homeowner policy
- Fire policy
Travel insurance and personal accident insurance are under this type of insurance. In case of untimely death, disability, or injuries, you and your family will be compensated. Moreover, when traveling, in case of any accidents which result in accidental death, permanent disability, an illness that requires treatment, flight delays or lost luggage then travel insurance could help you.
Do not worry about your insurance affordability as you are able to customize your plans based on your budget and needs. With that in mind, compare the benefits, terms, and policies when you buy insurance. Consider which type is deemed necessary right now and get protected and covered when anything unexpected happens.