Best Medical Insurance in Malaysia

We take over the hassle of finding a medical insurance in Malaysia that suits you best.

Features

Lowest Starting Price

We understand that the living cost in Malaysia is high. With that understanding, we are constantly on the look out to find you the cheapest plan – from as low as RM30/month.

Only Pay For What You Need

With our numerous plans – bronze, silver, gold and platinum, you can ensure that you get the optimal coverage with your budget. We promise to help you filter out the noise so that you don’t have to pay for what you don’t need.

Covid-19 Coverage

What better ways to protect yourself and your finances than having a protection plan against the latest pandemic. With an insurance plan that provides coverage against Covid-19, you can sleep soundly at night knowing that you are financially protected.

Why Choose PolicyStreet?

Getting a medical insurance in Malaysia can be a daunting task but it doesn’t have to be. With PolicyStreet, you can ensure that we will assist you with the comparisons and getting the best deal for you for FREE.

Licensed Financial Advisor

PolicyStreet is a financial advisor approved by Bank Negara Malaysia (Central Bank of Malaysia).

No Hidden Fees

As our services are FREE, you will not incur any hidden fees when you compare and purchase your insurance.

Price Match Guarantee

If you show that our competitors are offering a lower price, we will either match that price or beat it.

Trusted by thousands of Malaysians

You can rest assured that you are in safe hands as over 100,000 Malaysians have sought help from us.

What People Say About Us!

FAQs About Medical Insurance in Malaysia

1. What is medical insurance?

It is a type of insurance that will help cover your medical bills (hospitalization, consultation, surgery, treatment, medical supplies, and medication).

2. Why do I need medical insurance in Malaysia?

Medical insurance in Malaysia is important to help you protect your finances. Should you ever fall sick or get injured, it will be your guardian angel by paying all your medical bills that are inclusive of hospital room, consultation, surgery, treatment, medical supplies, and medication. Other than that, it will also help you if you get sick or become disabled and can no longer work by giving you disability income.

The future is not something that we have any control over, hence it is better to be prepared for any unexpected events. Buying it now means not harming your savings in the future.

3. What does medical insurance in Malaysia cover?

Medical insurance in Malaysia covers hospitalization and surgery, critical illness, disability income, and hospital income.

4. What is the difference between life insurance and medical insurance?

TypesLife InsuranceMedical Insurance
FunctionProtects your family members financially upon your death to help them maintain their lifestyleCovers the medical expenses of you and/or your family members
BenefitYour dependent will be paid with the sum assuredThe medical expenses are subject to the annual/ lifetime limit
CoverageCovers your financial obligations if you cannot work due to disability, or provides the sum assured to your dependent upon your deathCovers hospitalization, consultation, surgery, treatment, medical supplies, and medication fees

5. I am covered by my company’s Employee Benefits, should I get another medical insurance?

You SHOULD get your own medical insurance. Why? There are 3 main reasons why:

  • Insufficient annual coverage limit:

    The main difference between group insurance and individual insurance is the coverage limit, and generally, the coverage limit for group medical insurance is lower. This might not be sufficient to pay for your medical bills and you might have to fork out your own money from your savings.

  • You are not the owner:

    Your coverage and benefits are not permanent. Your employer is the owner of your policy, and they have the sole right to change your plan. This means that your plan could be downgraded, and you will receive even lower coverage and lesser benefits that might not be enough to cover your medical bills.

  • It depends on your employment status:

    Employee Benefits means you are insured by the policy only if you are employed. What if you are laid off or want to quit your job? You will no longer be covered by your insurance. If anything happens during that time, you will have to bear the medical expenses and you might have to be forced to use your savings.

6. When should I buy it?

You should get it as young or as early as you can! This is because the younger you start, the cheaper the premium rate! Other than that, starting early means you can be flexible about getting a more comprehensive plan that suits your needs and budget since you are less likely to develop critical illnesses. Furthermore, this is also to help you get early protection from lifestyle diseases like stroke, heart diseases, diabetes, and high blood pressure.

7. What are the things to consider before buying medical insurance?

These are the most crucial things to ask your insurer before deciding to buy for you and/or your family:

  • What does your plan provide?
  • What illness/ injury does your plan cover?
  • How is the claim process?
  • How long is the waiting period?
  • How much is the annual limit?
  • Does it cover your pre-existing illness?
  • What are the panel hospitals/ clinics?
  • Is your plan on reimbursement or a cashless basis?

8. Is a medical check-up required before buying medical insurance in Malaysia?

Some insurers require a medical check-up prior to buying medical insurance in Malaysia from them and some other insurers do not. For confirmation, check with your preferred insurers.

9. I have recently been diagnosed with a critical illness, am I still eligible?

Yes, you are still eligible but please note that your pre-existing illness will not be covered by your insurance for a duration of time (depending on the health and risk assessment by your insurer).

10. What are the various types of medical insurance policies in Malaysia?

There are various types of medical insurance policies in Malaysia, such as:

  • Hospitalization and surgery insurance
  • Critical illness insurance
  • Disability income insurance
  • Long-term care insurance
  • Hospital income insurance, and
  • Comprehensive medical insurance

11. Can I change my plan within the same insurer?

Yes, you can change your plan within the same insurer! Make sure to get in touch with your insurer to ensure the smoothness of the process.

12. Can I change the insurer within the same policy year?

Yes, you can change your insurer within the same policy year. Make sure to get in touch with your insurer to ensure the smoothness of the process.

13. Can I cancel my policy?

Yes, you can cancel your policy at any time! Make sure to get in touch with your insurer to ensure the smoothness of the process.

14. Will my policy expire if I do not renew on time?

Yes, your policy will expire! It is best to renew your policy on time to make sure you are well-protected. Renew with us to make your renewal experience hassle-free!

15. Where can I renew my policy?

You can renew your policy with your insurance provider on their website, through your agent, OR us on our website! Renewing with us is so much easier and what else? You get to save your money!

16. When will my policy start to cover me?

It depends on the waiting period for each insurer, and it usually ranges between 14 days to 1 year. For confirmation, check with your preferred insurers.

17. What if I get diagnosed with an illness during ‘waiting period’?

If you are diagnosed with an illness during this period, it will not be covered by your insurance for a duration of time (depending on the health and risk assessment by your insurer).

18. What if I get sick during the ‘waiting period’?

If you get sick during this period, it will not be covered by your insurance, and you will have to bear the medical expenses.

19. Does my policy cover my family members?

Yes. You can opt to include your family members under the same policy.

20. Does medical insurance in Malaysia also cover GP visits?

Some insurers also cover visits to GP clinics and some other insurers do not. For confirmation, check with your preferred insurers.

21. What if I go to non-panel hospitals?

For emergency cases, you can go to non-panel hospitals and still be covered, but it will be on a reimbursement basis.

22. Does my policy cover COVID-19?

No, medical insurance in Malaysia does not cover COVID-19. But some insurers offer stand-alone coverage for COVID-19. Check with your preferred insurers.

23. What are the common exclusions?

These are the common exclusions:

  • Pre-existing illness
  • Cosmetic surgery
  • Dental/ vision/ hearing
  • Mental health
  • Maternity
  • Outpatient prescription

24. What is the cost?

A lot of factors can affect your premium. Also, it ranges between different plans by different insurers. The lowest monthly premium rate that you can find is RM37/ month! To know more about the rates, visit us here!

25. What factors affect my premium?

These are the factors that can affect your premium rate:

  • Type of plan
  • Age
  • Geographical location
  • Medical history
  • Occupation
  • Body Mass Index (BMI)
  • Smoking habits
  • Number of dependents
  • Co-insurance feature

26. What are the modes of payment?

Different insurers offer different modes of payments, but generally, they accept:

  • Online payment on their website
  • Online payment on their mobile app
  • Internet banking
  • Automatic recurring bill
  • ATM Banking
  • CDM Banking
  • Direct banking

27. Can I pay my premium on an installment basis?

Yes! You can pay your premium monthly!

28. How can I save money on my premium?

  • Start early:

    Starting early means cheaper premium rates since you are less likely to develop critical illnesses.

  • Take the most basic coverage:

    Consult your agent and do some research before buying. Avoid paying a good chunk of money for coverage that you do not actually need.

  • Choose a plan with a higher deductible:

    Deductible is the amount that you pay prior to getting insured. Paying more in deductible means paying less in your monthly installment.

29. What is the most affordable medical insurance plan?

We can help you find the most affordable plan by comparing across different insurers to make sure that you find the one that suits your needs in 1 minute.

30. What’s the best way to buy medical insurance in Malaysia?

The best way to buy in Malaysia is through online on PolicyStreet. We are a financial advisor approved by Bank Negara Malaysia that will help you save your time and money. We compare different plans by different insurers to make sure that you find the one that suits your needs in 1 minute!

31. How will the policy pay for my medical bills?

Generally, there are two ways that your policy pays for your medical bills (depending on your plan): Cashless or reimbursement basis.

Cashless basis lets you flaunt your medical card, along with your Guarantee Letter and you are good to go! But on a reimbursement basis, there are some steps to be taken after you are discharged:

  • Step 1: Provide the documents needed
    • A copy of your NRIC
    • Medical report
    • Original medical bills and receipts
    • Diagnostic report
  • Step 2: Complete the claim form on your insurer’s website
  • Step 3: Submit claim form within 30 days of discharge

32. How do I file a claim for my medical bills?

You are lucky if your plan is on a cashless basis! Why? Because you do not have to go through the claiming process once you are discharged. But, in certain situations (your plan is on a reimbursement basis, you were not provided with a Guarantee Letter, or you went to non-panel hospitals), you still need to go through the process. Do not worry, the process is relatively simple, and this is how you do it:

  • Step 1: Provide the documents needed
    • A copy of your NRIC
    • Medical report
    • Original medical bills and receipts
    • Diagnostic report
  • Step 2: Complete the claim form on your insurer’s website
  • Step 3: Submit claim form within 30 days of discharge

33. Do I get any discounts if I do not make any claims?

Yes, you can get a discount (also known as No Claim Bonus). The amount you will receive differs among different insurers. Check with your preferred insurers.

34. What is the maximum number of claims in a year?

It depends on your plan. Most insurers allow an unlimited number of claims as long as it is within your annual limit. For confirmation, check with your preferred insurers.

35. What is the difference between ‘annual limit’ and ‘lifetime limit’?

Annual limitLifetime limit
The maximum claimable amount for each policy year.The maximum claimable amount for a lifetime, as long as your policy is still valid.

36. What happens if I fully utilize my annual/ lifetime limit?

If you fully utilize your annual/lifetime limit, your medical insurance will no longer pay for your medical bills. Any exceeding amount will be borne by you.

37. Can I increase the amount of annual and lifetime limits?

No. The only way to increase your annual and lifetime limits is by changing to another plan that offers higher annual and lifetime limits.

38. What is ‘sum insured’?

Sum insured in the amount of money that will be paid to you by your insurer in the event of the unpredictable.