Many view ‘insurance’ as a burdening commitment that financial burden that requires endless commitment every month. But, please don’t think of insurance that way. Insurance coverage is a necessary investment that will protect you against any untoward event in the future. The coverage is extended to the whole family, not particularly an individual.
Let us give a breakdown of the 5 types of insurance you should have and consider to protect yourself and even your loved ones.
Medical Card
Are you among those who have yet to own a medical card? If you are still not covered, we suggest you consider purchasing it immediately.
A medical card will come in handy in your time of need. A health setback can mean you require hospitalisation or even surgery. The bills can be expensive and outrageous for you to foot.
In such an event, having medical insurance or a medical card will help cover the medical costs for you to get the much-needed treatment.
“But I am already covered by my medical card work.”
Yes, that’s fine. Make the best use of the medical card provided by your company. Using your medical card work can help you save on the annual limit on your personal medical card.
Initially, it would be wasteful to give a medical card a skip. On top of that, you do not know how long you will be working at your company.
Life Insurance
Who on earth does not value their family?
Getting yourself insured with life insurance is a token of appreciation that you can do to your loved ones after your passing in the future. It can ensure your family’s financial guarantees.
Life insurance provides benefits in the form of financial assistance to your family upon your passing. It is a financial contribution scheme that requires your commitment to pay on a monthly/ annual basis.
On another note, you are entitled to a restricted up to RM6,000 tax relief for life insurance premiums.
Travel Insurance
Travel insurance is necessary to protect you against losses or disruptions during travel.
Typically, this insurance is limited to the time and duration of a person’s travel. It’s beneficial insurance for individuals travelling locally or internationally.
The plan covers a range of possibilities such as loss of passport and personal belonging cover, loss of checked-in baggage, etc.
Home Insurance
Are you a homeowner? If so, have you insured your property?
Home insurance provides compensation for your losses or damages. There are three common types of home insurance coverage in Malaysia.
Home policy: Protect your home property from losses or damages in the event of disasters. Examples are fire, lightning, and explosion.
Household policy: Provide coverage for the price of goods from losses or damages due to events such as fire, floods, and others.
Basic fire policy: Protect property in the home from loss or damage due to fire, explosion and lightning.
Motor Insurance
All vehicle drivers are mandated to purchase motor insurance. Motor insurance provides financial protection if something happens to your vehicle or a third party.
At least all or part of the damage cost will be borne by the insurance company. Your insurance premium is determined by following these factors:
Basic premium – NCD + any additional insurance coverage + 6% SST + RM10 Stamp Duty = Premium
*Note: The amount you pay for your insurance every month.
Simply purchase insurance for your car or motorcycle easily at Bjak. You can compare more than 15 insurance and Takaful companies to enjoy incredible savings of up to RM480.
Get insurance coverage for yourself and your family
Due to the high inflation in this decade, we highly encourage you to have one of the coverages. This is especially the medical card and also life insurance.
The medical card helps you cover the cost of your treatment in the hospital if you fall ill one day. Meanwhile, life insurance will help your next of kin and family if something happens to you later.
Don’t procrastinate any longer as the premium will get higher following your age. On top of that, you will get fewer coverage benefits as an older individual is seen as a risky group. Therefore, it is advisable to purchase insurance in your youth.
How about purchasing them both? You can conveniently do so using Bjak! You may visit our website for more inquiries.
Should you need assistance, you may reach our friendly agents to help you at any time at your convenience.
