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Types of Expat Insurances in Malaysia Guide

8 min read|Last Updated: September 1, 2022|
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Whether you are in Malaysia for work or other purposes, having an insurance is important to ensure that you are well-protected against unforeseen circumstances. This is especially so if you are an expatriate living in Malaysia.

One of the most essential and crucial things to do is to obtain adequate insurance coverage that cover you not only in Malaysia but internationally as well. Since local insurance packages only covers individual locally, most expats decided to obtain global medical coverage that provides portable insurance.

Discover the types of expat insurances in Malaysia you should consider below!

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Types of Expat Insurances in Malaysia

Health insurance and car insurance should not be unfamiliar terms to everyone. There are way more types of insurances apart from these standard ones. Let us take a look at what are the various types of insurance policies that you can consider.

  • International Health Insurance

    Starting with the most common insurance type, health insurance covers the expensive healthcare costs especially for expats and foreigners.

    Expat Financial is the industry leader in providing expatriates the first-class international health insurance that they require globally which includes Medical Expense Insurance, Critical Illness Insurance, Long-term Care Insurance and Prenatal Insurance.

    This allows them to have easy access to healthcare treatments anywhere and anytime.

  • Vehicle insurance

    Did you know that motor insurance is a mandatory insurance for all vehicles licensed to be used on public road?

    There are three different types of vehicle insurances, which include:

    • Comprehensive Cover
    • Third Party, Fire, Theft Cover
    • Third Party Cover

    For foreigners driving in Malaysia, do take note of the foreign driving license law of only being able to drive around Malaysia for a total period of 90 days with the international driver’s license.

    With effect from 31st December 2020, all foreigners can convert their foreign driving license into a Malaysia’s Driving license through the JPJ website Malaysia.

Malaysia Corporate Secretary Liyana
  • Expat Life and Disability Insurance

    Life insurance for expats and foreigners provides full coverage for life.

    Disability insurance for expat and foreigners serves as a partial replacement for an individual’s income when they are rendered unfit to work, ensuring that they still have a source of income for themselves and protecting them from extensive heavy financial costs.

    One such plan is provided by William Russell Limited is the Global Income Protection Plan which is designed to provide income replacement protection for individual expatriates around much of the world.

  • Home insurance

    Home insurance is not mandatory but is highly encouraged to be purchased in order to protect ourselves from potential losses from unfortunate events such as fire, vandalism, break-ins, and protection of homeowners against liabilities within their property.

    Other high-valued home appliances can also be insured under the home insurance plan. Items include air conditioner, jewellery, cameras, and more.

  • General Insurance

    This insurance protects the assets of foreigners who are living locally while at the same time covering their employee’s benefits.

    Some of the insurance includes, among others:

    • Travel insurance
    • Pet insurances
    • Evacuation coverage
    • International Dental and Optical insurance
Malaysia Corporate Secretary Liyana

Why Should Expats or Foreigners Purchase Insurance in Malaysia

Apart from those insurance mentioned above, there are many more things that can be insured. Now you may be wondering, why should you buy insurance? Well, it is better to be safe than sorry since none of us are unable to predict when an unfortunate incident may occur to us!

What if you already have an existing insurance in your home country?

  • Ensure the extent of coverage includes when living in Malaysia
  • Check with your insurer on various insurance plans available in Malaysia

Company Registration in Malaysia

While there are many reasons why you may move to Malaysia, registering for a company to start you own business is one of the top reasons. Here at Paul Hype Page, we specialise in helping global expats relocate to Malaysia through company setup and employment pass applications.

Many foreign investors chose Malaysia as companies here can be 100% foreign-owned. Tech companies also enjoy tax benefits such as 5-year tax exemptions.

KICKSTART YOUR COMPANY REGISTRATION WITH EMPLOYMENT PASS WITH US

Come down to our office or get in touch virtually for an incorporation & work visa assessment.

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FAQs

Will my medical plan cover my existing medical conditions?2021-09-14T20:12:26+08:00

There are certain conditions that are not included in the medical plan known as Major exclusions. They include pre-existing illnesses, treatment or surgery for certain illnesses within 120 days of the plan and cosmetic surgery/corrective lenses, dental treatment unless due to accidental injury.

How is medical card used?2021-09-14T20:11:53+08:00

A medical card has to be presented at a Panel Hospital and get a doctor’s consent to be admitted in the hospital. This will allow smoother transactions and lesser waiting time and tedious paperwork.

What are the common reasons why medical claims get rejected?2021-09-14T20:08:00+08:00

There are a few reasons why your medical claims get rejected, namely:

  • Claim withing the waiting period
    • Except for accidental injuries, medical insurances will not cover for any medical costs charged in the individual’s name within 30 days from the date of activation of the insurance policy.
  • Exclusion Clauses
    • Having access to medical card will not protect an individual from every unimaginable condition especially pre-existing illness
  • Unpaid Premiums
  • Exceeded limits

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