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Top 5 Best Medical Insurance & Takaful in Malaysia 2024

Updated: May 27

As healthcare costs continue to rise, choosing the right medical insurance or Takaful plan in Malaysia has become increasingly important. 

In 2024, the variety and flexibility of policies available make it possible for individuals to find coverage that best suits their needs and financial situations. So here are the top 5 medical insurance and takaful options in Malaysia. 


#1 Prudential PRUValue Med Medical Card


Prudential PRUValue Med Medical Card


Limits

  • Annual Limit: Not Applicable

  • Lifetime Limit: Not Applicable


Coverage and Benefits


Based on their brochure,


Prudential PRUValue Med Medical Card benefits
Prudential PRUValue Med Medical Card benefits

Coverage Age

18 gestational weeks - 100 years


Number of Panel Hospitals

93


Investment-Linked Plan

Yes


My Review


I think this health insurance is quite an all-rounder. It covers most medical expenses more than adequately and has an investment-linked plan which is good for those who have a hard time saving on their own and a relatively broad network of panel hospitals


The “not applicable” lifetime and annual limit is also quite reassuring because it means that the policy offers unlimited coverage for medical expenses, subject to other terms and conditions of the policy. 


#2 AIA A-Plus Health Medical Card


AIA A-Plus Health Medical Card


Limits

  • Annual Limit: From RM500k up to RM2m, depending on chosen plan

  • Lifetime Limit: No Limit


Coverage and Benefits


Based on their brochure,


AIA A-Plus Health Medical Card benefits
AIA A-Plus Health Medical Card benefits

Coverage Age

14 days - 100 years


Number of Panel Hospitals

94


Investment-Linked Plan

Yes


My Review


Similar to the Prudential PRUValue Med Medical Card, this insurance is also quite an all-rounder. However, a really cool addition that AIA offers is their Health Wallet which rewards policyholders with additional benefits if they stay healthy and essentially go without claiming anything in a year. 


One thing to note is that there are four plans you can consider and if you choose their lowest plan, Plan 150, your annual limit and certain coverages will be lower – which is expected. 


So, it’s best to understand what kind of plan would be best for you in terms of coverage and budget. 


#3 FWD Insurance Medi First by BSN


FWD Insurance Medi First by BSN


Limits

  • Annual Limit: From RM1m up to RM5m, depending on chosen plan

  • Lifetime Limit: No Limit


Coverage and Benefits


Based on their brochure,


FWD Insurance Medi First by BSN benefits
FWD Insurance Medi First by BSN benefits

Coverage Age

30 days - 100 years old


Number of Panel Hospitals

184


Investment-Linked Plan

Yes


My Review


This insurance policy by BSN covers the standard medical expenses, although not by a lot but still a pretty good amount. One thing that I especially like is the Government Hospital Daily Cash Allowance of RM200 which should be able to offset the cost of a regular doctor’s check-up.


Among all the medical insurance and takaful on this list, this policy has the most number of panel hospitals (possibly because it’s BSN and has some ties to the government) which is a great thing, especially if you’re living on the outskirts of town.


#4 Manulife Health Saver Benefit + MHSB Booster


 Manulife Health Saver Benefit + MHSB Booster


Limits

  • Annual Limit: From RM1m up to RM2.2m, depending on the chosen plan

  • Lifetime Limit: No Limit


Coverage and Benefits


Based on their brochure,


 Manulife Health Saver Benefit + MHSB Booster benefit
 Manulife Health Saver Benefit + MHSB Booster benefit

Coverage Age

30 days - 99 years old


Number of Panel Hospitals

93


Investment-Linked Plan

Yes


My Review


This insurance policy has a really high annual limit even if you choose the lowest plan which is pretty amazing. However, the coverage is not as comprehensive as the previous ones above. 


With that being said, I think if you’re considering this policy, it’ll be a good idea to sign up for the MHSB Signature plan as the benefits are notably higher than the other three plans. Of course, this is if it fits your budget.


#5 Takaful myClick MediCare Medical Card


Takaful myClick MediCare Medical Card


Limits

  • Annual Limit: From RM50k up to RM100k, depending on chosen plan

  • Lifetime Limit: Not Applicable


Coverage and Benefits


Based on their brochure,


Takaful myClick MediCare Medical Card benefit

Coverage Age

From 30 days


Number of Panel Hospitals

98


Investment-Linked Plan

No


My Review


This medical takaful policy covers the very basic medical expenses at a relatively low cost. And since it’s a takaful plan, 38% of the contribution is deducted upfront as the Wakalah fee and it’s not an investment-linked plan. 


Personally, I think this policy is good enough if you’re young or just started working but as you get older, getting a more comprehensive plan would be best as the risk of falling sick is higher.


Which Medical Insurance or Takaful Is The Best For You in Malaysia?


Ultimately, choosing the best medical insurance or takaful in Malaysia depends on six factors:


Budget and Affordability

Determine how much you can comfortably spend on premiums and consider plans within your budget.


Healthcare Needs

Assess your healthcare needs based on age, health conditions, family history, and lifestyle.


Coverage Scope

Look for a plan that covers essential medical services you might need, including hospitalization, surgery, outpatient services, and any specific treatments.


Network of Hospitals

Consider the network of panel hospitals and whether they are accessible and meet your standards.


Additional Benefits

Evaluate any extra benefits like health screenings, wellness programs, or international coverage.


Policy Terms

Understand the terms, including limits, exclusions, claim processes, and renewal conditions.


Personally, I think the best choice for you is one that will balance cost, coverage, and convenience according to your circumstances and preferences.


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