Insurance is very important in a person’s life as well as business. This is because it helps to provide protection against unexpected future losses and it can also help ensure that assets, property, lifestyle and income are kept whole and safe. This gives a person great peace of mind as they go through daily life activities. There are different types of insurance in Malaysia and it is important to choose them properly so that they can work in your best interests. Some of the most important ones include:
This is all about providing cover for your personal life as well as that of your family. There are different categories under this such as income protection, critical illness, life and total and personal disability. The amount that you will be required to pay usually depends on individual circumstances especially when it comes to lifestyle expectations and financial commitments. Always go through all the options available noting down the pros and cons to choose the ideal one for you. In most cases your family gets paid should anything happen to you so that they do not have to suffer a lot.
This is can be described as the protection against the risk of having to incur medical expenses. Depending on the type that you have chosen the insurer can pay directly to the service provider or you can pay the expenses then get reimbursed. This is usually very important because almost everyone at a point in life will need medical treatment or attention. Go through various companies that offer these services and go though all the details carefully so that you can pick the one that will benefit you the most. This way, in case of anything you will focus on getting better rather than wondering how the bills will be paid.
This is purchased for cars, motorcycles, trucks and other road vehicles. It is mostly purchased to offer protection against any damages or body injuries that result from various traffic collisions and also against any liability that could crop up. There are some types that also offer protection against theft. Premiums to be paid are normally calculated according to age, gender, vehicle classification, distance and driving history among many others. Always carryout thorough research before you choose the one to get so that you do not end up with any regrets.
This has been designed to cover financial default of the travel suppliers, medical expenses and any other losses that may be incurred when a person is travelling both locally and internationally. Some of the risks covered here include emergency evacuation, medical emergency, trip cancellations/interruptions, visitor health insurance, funeral expenses overseas, hi-jacking, travel delays because of weather and delayed baggage among many others. Before you settle on the one to work with make sure you get to know what is offered out there, make use of auto club membership and credit cards and determine whether you are already covered so that you end up working with the best at the end of the day for memorable trips without too much worry.
So as you can see, it’s important to do lots of research before buying any insurance, whether it is car, medical or life insurance in Malaysia.