The Protection Pillar for All Your Health Needs
Things to consider
Rising medical costs
Your medical coverage needs
Your changing lifestyle
Critical illness plans
Frequently Asked Questions
What is health insurance?
Health insurance covers medical expenses that may arise due to an illness. These could include hospitalisation costs, medicine costs, and doctor consultation fees.
Additionally, some health insurance plans can also offer coverage for critical illnesses to cover certain life-threatening diseases.
Health insurance policies are usually of the following types:
Individual health insurance
Critical illness health insurance
Group health insurance
Why is health insurance important?
Health insurance benefits are unmeasurable.
This is because falling sick or getting hurt is never planned. A serious disease or accident can strike at any time. However, one may not always be financially prepared or have enough savings to be able to pay the costs for treatment. A health insurance policy helps to protect individuals and their families in such circumstances.
Another important point to note is that the cost of medical treatment is rising continuously. Additionally, health insurance may require high premiums (or even be denied) as one gets older. It is, therefore, recommended to buy a health insurance policy as early as possible.
What is a health insurance premium?
This is the amount to be paid by the policyholder for their health coverage. It is billed each month and should be paid by the policyholders regardless of whether they need any healthcare facilities.
How are health insurance premiums calculated?
A health insurance premium is an amount to be paid by the policyholder in return of the coverage. It is calculated depending on your age, insurance sum required, medical history, type of plan selected, etc.
What is the best health insurance available in Malaysia?
There are a few types of health insurance available in Malaysia: surgical or hospitalization, critical illness insurance and long-term care. The right plan for you depends upon your age, family history and affordability.
How do I pick a health insurance plan?
It depends on your healthcare needs which in turn, depends on your age and pre-existing conditions. You can go with a basic plan if you are healthy or choose a more comprehensive coverage to get maximum benefit and protection when needed. Speak to a Prudential Wealth Planner to help you determine what is best for you.
How do I choose an individual health insurance plan?
To have the best health insurance plan for individuals, you can choose a plan for yourself by assessing your financial and health condition. Compare different plans available depending on the premium rates and the coverage provided. Choose a plan that fits your budget and health needs in the longer run.
How much does health insurance cost in Malaysia?
On average, health insurance can cost up to RM 2500 per year. It can increase or decrease depending on the coverage required and differs between insurance providers.
What are the benefits of health and life insurance?
Health insurance can cover the expenses of your medical costs and disease treatments, if you are at risk of getting any. Whereas, life insurance pays out a death benefit to your beneficiaries in case of premature death to cover future income loss and other obligations outstanding such as funeral cost, hospital expenses and outstanding debts.