Types of Common Insurance
- Life Insurance – A means of protecting your loved ones and dependents in a situation where the insured person dies. This way, there will be payout to the named beneficiary.
- Critical Illness Insurance – A means of ensuring that medical bills are paid, either in full or partially, and for diminished ability to earn. Also as a means for protecting dependents.
- Health & Medical Insurance – Pays for medical bills.
- Personal Accident Insurance
- Retirement Annuity
- Motor Insurance – Comprehensive insurance which covers both the insurer’s car and the other car involved, should there be an accident. Third party insurance covers only the other car/ party in an accident. A minimum of third party insurance is required for all cars in Malaysia.
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