Life Insurance is a vital financial tool. It could pay for you & your family’s expenses during uncertainties. So here’s everything you need to know about it.
What is Life Insurance?
It is a form of financial protection that essentially pays out in the event of death or disability. It is used to provide financial support to your family as a way to replace loss of income & fundamentally helpful to protect your family from debts and unexpected expenses.
Life/TPD coverage is a must-have while amount is customisable to suit your needs. Our Life Consultant will be able to help you out.
Should I buy Critical Illness coverage?
Critical Illness coverage is NOT to pay for your hospital bills. It serves as an Income Replacement during our period of recovery. It pays a lump sum to us upon diagnosis of covered critical illness ie: heart attack, cancer, stroke & other severe diseases.It is a form of financial protection that essentially pays out in the event of death or disability. It is used to provide financial support to your family as a way to replace loss of income & fundamentally helpful to protect your family from debts and unexpected expenses.
What is the difference between Accelerated & Early Payout Critical Illness?
Accelerated amount for Critical Illness coverage will be shared with Life/TPD. It pays a lump sum as an advance, deducting from Life coverage. When accelerated CI is claimed, coverage amount for Life/TPD shall reduce accordingly
Accelerated Critical Illness is the most affordable Critical Illness coverage
If premium is affordable for you, opt for Early-Payout as it allows us to receive a portion of coverage during early stage diagnosis to reduce financial burdens.
How to choose your medical card? (Medical Card)
Cashless admission is crucial during an emergency medical condition. There are few items we can compare before making our decision!
Choose a medical card with no lifetime limit as your 'NO LIMIT CREDIT CARD' at-the-hospital
Compare Pre-Hospitalization coverage as it allows us to seek early medical attention and treatment (Before Admission)
Compare Post-Hospitalization coverage as it reduces our financial burden (After Discharge), minimizing our out-of-pocket expenses.
Should I buy waiver of premium?
If you think you can’t afford your premium when you’re sick, you SHOULD! We do not want to lose our coverage when we need it most!
A waiver is fundamentally an additional insurance for the premium itself and the premium will be paid by the insurer if you are sick and unable to work.
How many days worth of pre and post-hospitalization expenses should a good policy cover?
30 days before hospitalization and 90 days post-hospitalization should be the bare minimum expectation. 60 days pre-hospitalization and 180 days post-hospitalization benefits would be ideal.
BJAK Life is the insurance marketplace pioneer in Southeast Asia. BJAK Life builds, operate and owns the platform to deliver innovative services to Malaysian citizens.
BJAK SDN BHD (1339813-K) is under Sales & Marketing Administration Agreement with Advance Fin SDN BHD (1280891-W) (Financial Institution ID - 53640).
