The majority of Malaysians don’t consider insurance to be important. Apart from auto insurance, did you realize that there are other types of insurance you should think about purchasing? Insurance shields us from circumstances that we can’t tell would occur. Despite the fact that we haven’t heard much about them, you and your family will undoubtedly benefit from them in the future.
Life insurance
Are life and health insurance similar? The answer is no, both of those insurance policies are different. Life insurance is considered a contract between you and your insurance company to shield you from unexpected events. If anything happens to you, such as critical illness, terminal illness, or sudden death, your insurance company will provide you and your loved ones with a benefit. Life insurance is more important when you are the only provider in the family. Hence, when you no longer are able to provide for your loved ones, the insurance company may help you.
Health insurance
Health insurance supports you when there is a case of emergency – this type of insurance policy covers your health and medical expenses. Insurance companies might provide you with a medical card. As a result, using that card, you are able to cover the cost of your treatment. Some hospitals might be costly and some illnesses are detected when you least expect them, so you are insured in case you aren’t able to cover the expenses.
Property insurance
Some of us might not prioritize property insurance. Zurich Malaysia remarked that 50% of homes aren’t supported by insurance, 33% are not covered for their contents, and 25% have no idea what their property insurance covers. There are 3 types of property insurance householder policy (covers the contents of your home), homeowner policy (covers your house structure), and fire policy (covers damages done by fire or lightning). In case of any unexpected damages happen to your house, your insurance can help you cover the expenses.
Travel insurance
You need travel insurance when you’re planning to go on a trip. This could protect you and your loved one from financial losses when you are traveling. From ticket cancellation or interruption, baggage losses or damages, overseas medical expenses, flight delays, and so on. Therefore, unexpected events can be covered and insured when you need support.
Permanent Disability insurance
We believe this is one of the most important insurance. Hence, you need to buy insurance policy for total permanent disability Malaysia to ensure your loved ones are supported when you are no longer able to. To be considered a TPD, the disability should last for at least 6 months. in that time, your family and loved ones are supported financially.