Best Insurance in Malaysia

5 Options for the Best Insurance in Malaysia

Source: Jennifer Araujo via Unsplash

By Yusuf bin Rahman

Financial turmoil is always a bad surprise. Thankfully, there is now a way around it. Guard yourself and your family from any future financial burden with the best insurance in Malaysia for any of your needs.

If you don’t know the difference between types of insurance and what they can offer, this list below might be helpful.

1.  Tune Protect Travel Easy

Tune Protect Travel Easy's Homepage
Source: Tune
BEST FOR: Travel insurance
PRODUCTS: https://www.tuneprotect.com/products/travel-easy-insurance/
WEBSITE: https://www.tuneprotect.com/
ADDRESS: Level 8, Wisma Tune, 19 Lorong Dungun, Damansara Heights,50490 Kuala Lumpur, Malaysia.
CONTACT DETAILS: 1800 88 5753 [email protected]
OPERATING HOURS: Monday – Friday: 9:00AM – 4:00PM

Be prepared for any travel inconvenience worldwide with one of the options for the best insurance in Malaysia for travel, Tune Protect Travel Easy.

This travel insurance covers expenses for missed flights, delayed flights, travel misconnection, as well as trips cancelled due to hospitalisation. It also provides insurance for loss of money, credit card, or travel documents, so you can roam a new country stress-free.

In case something unfortunate happens during your trip, you also get comprehensive accident benefits that take care of your emergency medical evacuation, hospitalisation, and hospital allowance. Even your follow-up treatment once you get back into the country is covered by this option for the best insurance in Malaysia.

These are not the only things you get from Tune Protect Travel Easy either: it has even more benefits for a true, hassle-free trip.

The cost of this best insurance in Malaysia varies by the destination country and the number of days of stay as well as whether you’re purchasing for just yourself or the entire family.

Highlights

  • Coversmissed flights, delayed flights, travel misconnection, and cancelled trips
  • Insurance for personal money, credit card, or travel documents
  • Accident benefits
  • Cost depends on destination, days of stay, and individual or family coverage

2.  Tokio Marine Motor Insurance

Tokio Marine Motor Insurance's Homepage
Source: Tokio Marine
BEST FOR: Automobile insurance
PRODUCTS: https://www.tokiomarine.com/my/en/personal/protect/motor/motor-insurance.html
WEBSITE: https://www.tokiomarine.com/my
ADDRESS: Find the branch nearest to you at https://www.tokiomarine.com/my/en/personal/resources/find-a-service-provider/branch-locator.html
CONTACT DETAILS: +603 2059 6188 [email protected]
OPERATING HOURS: Monday – Friday: 8:40AM – 5:30PM

As the best insurance in Malaysia for vehicles, Tokio Marine offers three types of coverage– the Comprehensive Cover, the Third Party, Fire & Theft Cover, and the Third Party Cover.

The Comprehensive Cover, as the name suggests, protects you from financial turmoil caused by a wide range of events. These include loss or damage of your vehicle, third party bodily injury and death, and third-party property damage.

On the other hand, the Third Party, Fire & Theft Cover and the Third Party Cover options are self-explanatory.

For this best insurance in Malaysia, the premium varies depending on the type of vehicle, type of cover, additional benefits, and no-claim-discount entitlement.

Highlights

  • Three vehicle insurance options
  • Comprehesive cover
  • Third-Party, Fire & Theft Cover
  • Premium depends on type of vehicle, type of cover, additional benefits, and no-claim-discount entitlement

3.  Premier Education Savers

Premier Education Savers' Homepage
Source: Maybank2u
BEST FOR: Education plan
PRODUCTS: https://www.maybank2u.com.my/maybank2u/malaysia/en/personal/insurance/education/premier_education_savers.page?
WEBSITE: https://www.maybank2u.com.my/
ADDRESS: Find the branch nearest to you at https://www.maybank2u.com.my/maybank2u/malaysia/en/personal/about_us/locate_maybank.page?
CONTACT DETAILS: 1-300 88 6688; [email protected]
OPERATING HOURS: Monday – Thursday: 8:45AM – 5:45PM Friday: 8:45AM – 4:45PM

Maybank’s Premier Education Savers is a whole-life investment-linked education plan that helps you build your child’s education through investing in a wide array of funds for greater returns.

This best insurance in Malaysia offers annual, bi-annual, quarterly, or monthly payment of premiums. Not only that, it also has an allocation rate starting at 70%, which means more of your premiums are directed to your investments and less to their commissions.

At the same time, you or your child will be covered by a Death and Total and Permanent Disability coverage during the duration of the policy.

By the end of the policy, you can opt to receive the lump sum or your child can take over the ownership and take the lifetime investment option up to age 100.

Highlights

  • Whole life investment-linked education plan
  • Pay annually, bi-annually, quarterly, or monthly
  • High allocation rate
  • Death and Total and Permanent Disability coverage
  • Lump sum or lifetime investment option at the end of the policy

4.  SmartPA Enhanced

SmartPA Enhanced's Homepage
Source: AXA
BEST FOR: Personal accident insurance
PRODUCTS: https://www.axa.com.my/personal-accident-insurance-malaysia
WEBSITE: https://www.axa.com.my/
ADDRESS: Find the branch nearest to you at https://www.axa.com.my/contact-us
CONTACT DETAILS: (+603) 2170 8282 [email protected]

AXA’s SmartPA is personal accident insurance that provides comprehensive protection for you and your family anytime and anywhere in the world. With its Family Plans Privilege, your spouse and an unlimited number of children can be covered.

This insurance coverage ensures hassle-free admission to panel hospitals and daily hospitalization allowance in the event of an accident.

Additionally, the insured gets double the sum for accidental death or permanent disability due to an accident that occurs in public transport, overseas, festive season, or during a snatching, theft, or robbery.

This option for the best insurance in Malaysia is renewable up to age 100 with a renewal bonus of 15% per year with a no-claims discount if you renew without making claims on your policy.

Highlights

  • 247 protection anywhere in the world
  • Family Plan Privilege
  • Hassle-free hospital admission and daily allowance
  • Double payout in certain circumstances
  • Renewable up to age 100 with 15% renewal bonus of 15% a year
  • No-claims discount

5.  Takaful SureCover

Takaful SureCover's Homepage
Source: Zurich
BEST FOR: Life insurance
PRODUCTS: https://www.zurich.com.my/en/takaful-products/protection/for-my-life/takaful-surecover
WEBSITE: https://www.zurich.com.my/
ADDRESS: Find the branch nearest to you at https://www.zurich.com.my/en/customer-hub/i-want-to-get-in-touch/locate-a-branch
CONTACT DETAILS: 1-300-888-622

If you’re looking for a comprehensive family life plan that requires no medical exams, Zurich’s Takaful SureCover is the best insurance in Malaysia for you.

Open to individuals from 35 to 80 years old, it protects you until age 90, and can even extend the coverage to your parents.

To keep your family from financial burdens in case of your demise, it offers a competitive death benefit and an even higher accidental death benefit. There is also a repatriation benefit in case something unfortunate happens to you or another insured family member outside the country.

If you survive your policy after your 90th birthday, you will even get a Participant Investment Account (PIA) value from Zurich as your maturity benefit.

The best part is that you can get this best insurance in Malaysia for as low as RM75 a month.

Highlights

  • No medical exam
  • Open to individuals from 35 to 80 years old
  • Protection up to age 90
  • Extend the coverage to your parents.
  • High accidental death benefit
  • Maturity benefit
  • As low as RM75

With one of these options for the best insurance in Malaysia, you should be able to secure your finances, whatever your needs are.

If you’re only looking for short-term life protection, term life insurance may be best for you. Be guided by our list of the best term life insurance in Malaysia here.