31 March 2023 | Kuala Lumpur
What was the best thing you did for yourself today? Are you one of the many Malaysians who neglect their own wellbeing while managing family and work commitments? Perhaps this is a sign for you to think about caring for yourself financially in the event of a medical emergency.
Only 22% of Malaysians have personal health takaful or insurance plan and 50.1% have no supplementary financial coverage and rely on existing tax funded healthcare, according to the National Health & Morbidity Survey (NHMS).
Inflation in the medical industry is usually the highest due to medical advancements and higher life expectancy which result in more medical treatments being required. Therefore, the importance of medical insurance/takaful cannot be overstated.
Medical takaful pays for your medical treatment at any healthcare facility especially for any covered diagnosis, illness or accident. Although similar to conventional health insurance, takaful operators abide by Islamic laws that give importance to sharing and shariah-compliant business practices.
By selecting a medical takaful, each member contributes to the pool, which is then used to pay for the medical expenses of any member who becomes sick or injured. By this way, medical takaful is like a cooperative or mutual aid society. These costs will cover hospital accommodation and meals, doctor and surgeon fees, as well as medical equipment and services.
More and more Malaysians are choosing to be treated at a private facility rather than a government facility because of the staff specialties and newer specialised equipment provided to them. To support this, Life Insurance Association of Malaysia (LIAM) states that in Malaysia, takaful plans are structured to cover the actual cost of treatment in a private hospital.
Medical takaful or Islamic medical insurance is a plan for the socially aware to mutually contribute to providing financial protection to its members.
It is important to have a good health insurance/takaful plan in place before any major illness or injury occurs. It is also important to make sure your medical takaful covers the costs of treatments for chronic diseases, which are usually excluded from health insurance/takaful coverage. It also has a lower contribution, meaning you will pay less for your monthly contributions.
There are numerous factors to consider when choosing a health or medical takaful provider. As various types of health and medical takaful are now available, make sure the provider offers a plan that meets your requirements.
Choosing a good health or medical takaful plan does not have to be complicated and stressful. With an online product, you may not need an agent's help to understand what's being offered or how the plan works. By following the list above, you can now do your own research in the comforts of your own home and get the medical or health takaful coverage you need online.
We know that when it comes to the health of you and your family, you want a medical insurance or medical takaful plan that doesn’t say ‘no’ when you need it. With FWD Medical Care+, you can get takaful coverage at affordable contribution payment.
Get covered now with our medical card! FWD Medical Care+is a comprehensive medical plan that covers your inpatient and outpatient medical treatments with no lifetime limit. This includes reimbursement for a second medical opinion, companion bed, inpatient psychiatric treatment, access to alternative medical practitioners, and more.
Equipped with a restoration benefit for bonus coverage, the plan's annual limit booster lets you restore your annual limit once should you run out within the same certificate year. To further enhance your coverage, the plan comes with an accidental death benefit and a compassionate benefit, so you can be assured that your family is financially taken care of when you’re not around. Apply now to enjoy savings of up to 45% on your contribution by opting for deductibles.