3 ways to buy medical insurance in Malaysia

Since I am getting older, I am very concerned about my medical insurance especially after age 60. In the past 10 years, the medical insurance premium or cost of insurance only keep going up, just like iPhone prices always go up and never come down.

I spend some time searching the majority of the General Insurance companies and Life Insurance companies and finding out their medical insurance products. I will share with you the list and ways to buy their products. I need to clarify that I did not compare the products due to my personal reason and limitation. I am sharing this post because I want to help more people to find better ways to get themselves protected with insurance.

There are 3 methods you can buy a medical insurance product in Malaysia. The 1st is through a life insurance agent or general insurance agent. This is the most common method because most of the time we do not wake up one day and feel the need to buy an insurance product. Most of the time, we are thankful to a hardworking insurance agent to introduce a product to us and follow up with us to make the purchase. The 2nd method is buying an insurance product online. This is the new method for us because we start to increase our spending online. The 3rd method is to buy directly with the company "non-online". Actually, this method is not new but rather not popular. As I mentioned earlier, most of us do not wake up one day and wanted to buy an insurance product. However, you can actually buy the insurance product directly by filling up the proposal form and submit the payment. As easy as 123. Why this method is not popular? In my opinion, only a small percentage of people work in the insurance industry and therefore most of us do not understand the terminology used in the form. In the end, the consumer chooses to buy from an insurance agent. Once again, buying "direct" means you just need to fill up a physical copy of the proposal form by yourself and submit it to the company.

Here is the list of company, their product name and ways to buy them. I did not list down all the life insurance companies because all of the life insurance companies do offer medical insurance products and you can buy from their agents. I also did not list down some companies and some products because I am looking for full coverage of medical insurance. Some companies only offer hospital cash benefits online. Last but not least, I am putting this list is to compare companies that offer online and/or direct purchases.

This is a long list of products and I did not include all medical insurance products from all life insurance companies that you can purchase via an agent. Now you understand the reason the majority of us choose to buy directly from an insurance agent. I think I need to take weeks to do research on all these products.

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