With so many different types of medical insurance, it can be difficult to determine which is the best for you. On top of that, there are confusing terms and scary figures–all of which can make it even more complicated.
Let’s take a look at what you should be looking at when trying to determine the best medical insurance in Malaysia for you.
What can the insurance plan provide?
It is key to understand what insurance can provide you, especially also considering your lifestyle and any pre-existing medical conditions. As a whole, medical insurance can provide peace of mind for you and your loved ones, as well as work as a good contingency plan in case of unexpected illness, etc.
Some things that a good medical insurance plan should have:
- Hospitalization and Home Nursing
- Surgical Fee Coverage
- Sufficient coverage for “critical illnesses” (such as diabetes, hypertension, etc, but each company will define this differently)
Shop around for the best prices
This is pretty much true for anything that will be a significant investment in your life. Insurance is the same–different companies will have different prices, so it’s up to you to determine what suits you best.
But expect to set aside a healthy chunk of your income towards monthly payments!
Premiums, deductibles, and copays
A premium is the monthly payment you make to the company, while a deductible is the amount that must be paid before certain insurance coverages can be made. A copay is the flat rate you pay for a service that requires insurance.
These are all things that you should consider in terms of your personal situation and current finances, as different combinations work for each person.
Thinking about where to start on your search for the best and most affordable medical insurance? Check out https://www.aig.my/personal/medical-insurance to see how you can protect you and your loved ones today.