{"id":3856,"date":"2021-01-13T02:55:09","date_gmt":"2021-01-13T02:55:09","guid":{"rendered":"https:\/\/www.ibpo.com.my\/?p=3856"},"modified":"2023-11-30T10:23:33","modified_gmt":"2023-11-30T10:23:33","slug":"the-beginners-guide-to-insurance-in-malaysia","status":"publish","type":"post","link":"https:\/\/www.ibpo.com.my\/bm\/the-beginners-guide-to-insurance-in-malaysia\/","title":{"rendered":"The Beginner\u2019s Guide to Insurance in Malaysia"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"3856\" class=\"elementor elementor-3856\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-603aae4 elementor-section-full_width xts-section-stretch-content elementor-section-height-default elementor-section-height-default\" data-id=\"603aae4\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-513a4fa\" data-id=\"513a4fa\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-1436404 elementor-widget elementor-widget-html\" data-id=\"1436404\" data-element_type=\"widget\" data-widget_type=\"html.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t[xts_html_block id=\"3506\"]\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-86c14ad elementor-section-full_width elementor-section-height-default elementor-section-height-default xts-section-disabled\" data-id=\"86c14ad\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-5c446df\" data-id=\"5c446df\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-a1e5a17 elementor-widget elementor-widget-shortcode\" data-id=\"a1e5a17\" data-element_type=\"widget\" data-widget_type=\"shortcode.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-shortcode\">\t<div class=\"ibpo-articles xts-single-post-header\">\r\n\t\t<div class=\"xts-post-meta\">\r\n\t\t\t\t\t\t\t\t\t\t<div class=\"xts-post-categories\">\n\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t<a  class=\"xts-post-category\" href=\"https:\/\/www.ibpo.com.my\/bm\/category\/articles\/\" rel=\"category tag\">\n\t\t\t\t\t\tArticles\t\t\t\t\t<\/a>\n\n\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t<a  class=\"xts-post-category\" href=\"https:\/\/www.ibpo.com.my\/bm\/category\/articles\/family\/\" rel=\"category tag\">\n\t\t\t\t\t\tFamily\t\t\t\t\t<\/a>\n\n\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t<a  class=\"xts-post-category\" href=\"https:\/\/www.ibpo.com.my\/bm\/category\/articles\/personal-finance\/\" rel=\"category tag\">\n\t\t\t\t\t\tPersonal Finance\t\t\t\t\t<\/a>\n\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t<div class=\"xts-post-date\">\n\t\t\t\t\t\t\t<time class=\"published\" datetime=\"2021-01-13T02:55:09+00:00\">\n\t\t\t\t\t13 Januari 2021\t\t\t\t<\/time>\n\t\t\t\t<time class=\"updated\" datetime=\"2023-11-30T10:23:33+00:00\">\n\t\t\t\t\t30 November 2023\t\t\t\t<\/time>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\r\n\r\n\r\n\t<\/div>\r\n\r\n\t\t\t<h1 class=\"ibpo-articles xts-post-title xts-entities-title\">\r\n\t\t\t\tThe Beginner\u2019s Guide to Insurance in Malaysia\t\t\t\t<\/h1>\r\n\t\t\r\n\r\n\r\n\t\r\n<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-60bed14 xts-scheme-inherit xts-textalign-inherit elementor-widget elementor-widget-text-editor\" data-id=\"60bed14\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.23.0 - 23-07-2024 *\/\n.elementor-widget-text-editor.elementor-drop-cap-view-stacked .elementor-drop-cap{background-color:#69727d;color:#fff}.elementor-widget-text-editor.elementor-drop-cap-view-framed .elementor-drop-cap{color:#69727d;border:3px solid;background-color:transparent}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap{margin-top:8px}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap-letter{width:1em;height:1em}.elementor-widget-text-editor .elementor-drop-cap{float:left;text-align:center;line-height:1;font-size:50px}.elementor-widget-text-editor .elementor-drop-cap-letter{display:inline-block}<\/style>\t\t\t\t<div class=\"vc_row wpb_row vc_row-fluid\"><div class=\"wpb_column vc_column_container vc_col-sm-12\"><div class=\"vc_column-inner\"><div class=\"wpb_wrapper\"><div class=\"wpb_text_column wpb_content_element \"><div class=\"wpb_wrapper\"><div class=\"vc_row wpb_row vc_row-fluid\"><div class=\"wpb_column vc_column_container vc_col-sm-12\"><div class=\"vc_column-inner\"><div class=\"wpb_wrapper\"><div class=\"wpb_text_column wpb_content_element \"><div class=\"wpb_wrapper\"><div class=\"vc_row wpb_row vc_row-fluid\"><div class=\"wpb_column vc_column_container vc_col-sm-12\"><div class=\"vc_column-inner\"><div class=\"wpb_wrapper\"><div class=\"wpb_text_column wpb_content_element \"><div class=\"wpb_wrapper\"><div class=\"vc_row wpb_row vc_row-fluid\"><div class=\"wpb_column vc_column_container vc_col-sm-12\"><div class=\"vc_column-inner\"><div class=\"wpb_wrapper\"><div class=\"wpb_text_column wpb_content_element \"><div class=\"wpb_wrapper\"><div class=\"vc_row wpb_row vc_row-fluid\"><div class=\"wpb_column vc_column_container vc_col-sm-12\"><div class=\"vc_column-inner\"><div class=\"wpb_wrapper\"><div class=\"wpb_text_column wpb_content_element \"><div class=\"wpb_wrapper\"><div class=\"vc_row wpb_row vc_row-fluid\"><div class=\"wpb_column vc_column_container vc_col-sm-12\"><div class=\"vc_column-inner\"><div class=\"wpb_wrapper\"><div class=\"wpb_text_column wpb_content_element \"><div class=\"wpb_wrapper\"><div class=\"vc_row wpb_row vc_row-fluid\"><div class=\"wpb_column vc_column_container vc_col-sm-12\"><div class=\"vc_column-inner\"><div class=\"wpb_wrapper\"><div class=\"wpb_text_column wpb_content_element \"><div class=\"wpb_wrapper\"><div class=\"vc_row wpb_row vc_row-fluid\"><div class=\"wpb_column vc_column_container vc_col-sm-12\"><div class=\"vc_column-inner\"><div class=\"wpb_wrapper\"><div class=\"wpb_text_column wpb_content_element \"><div class=\"wpb_wrapper\"><div class=\"vc_row wpb_row vc_row-fluid\"><div class=\"wpb_column vc_column_container vc_col-sm-12\"><div class=\"vc_column-inner\"><div class=\"wpb_wrapper\"><div class=\"wpb_text_column wpb_content_element \"><div class=\"wpb_wrapper\"><p>Stripped to its most basic meaning, insurance means\u00a0<strong>protection against an unwanted event<\/strong>. An insurance policy covers you financially if\/when said events occur, but there is\u00a0<strong>more to it than just purchasing a coverage<\/strong>.<\/p><p>There is also no one insurance policy that covers\u00a0<em>every single risk<\/em>\u00a0to your\u00a0<em>health<\/em>,<em>\u00a0life<\/em>, and\u00a0<em>properties<\/em>, so it is\u00a0<strong>important to know how to navigate the world of insurance!<\/strong><\/p><p>\u00a0<\/p><h2><b>How Does Insurance Work?<\/b><\/h2><p><img fetchpriority=\"high\" decoding=\"async\" class=\"wp-image-1934 aligncenter\" src=\"https:\/\/www.ibpo.com.my\/wp-content\/uploads\/2021\/01\/people-holding-insurance-illust-300x214.jpg\" sizes=\"(max-width: 400px) 100vw, 400px\" srcset=\"https:\/\/www.ibpo.com.my\/wp-content\/uploads\/2021\/01\/people-holding-insurance-illust-300x214.jpg 300w, https:\/\/www.ibpo.com.my\/wp-content\/uploads\/2021\/01\/people-holding-insurance-illust-1024x730.jpg 1024w, https:\/\/www.ibpo.com.my\/wp-content\/uploads\/2021\/01\/people-holding-insurance-illust-768x548.jpg 768w, https:\/\/www.ibpo.com.my\/wp-content\/uploads\/2021\/01\/people-holding-insurance-illust-1536x1096.jpg 1536w, https:\/\/www.ibpo.com.my\/wp-content\/uploads\/2021\/01\/people-holding-insurance-illust-2048x1461.jpg 2048w, https:\/\/www.ibpo.com.my\/wp-content\/uploads\/2021\/01\/people-holding-insurance-illust-205x146.jpg 205w, https:\/\/www.ibpo.com.my\/wp-content\/uploads\/2021\/01\/people-holding-insurance-illust-50x36.jpg 50w, https:\/\/www.ibpo.com.my\/wp-content\/uploads\/2021\/01\/people-holding-insurance-illust-105x75.jpg 105w, https:\/\/www.ibpo.com.my\/wp-content\/uploads\/2021\/01\/people-holding-insurance-illust-881x628.jpg 881w, https:\/\/www.ibpo.com.my\/wp-content\/uploads\/2021\/01\/people-holding-insurance-illust-750x536.jpg 750w, https:\/\/www.ibpo.com.my\/wp-content\/uploads\/2021\/01\/people-holding-insurance-illust-1140x813.jpg 1140w, https:\/\/www.ibpo.com.my\/wp-content\/uploads\/2021\/01\/people-holding-insurance-illust-scaled.jpg 1920w\" alt=\"People Holding Insurance Illustration\" width=\"400\" height=\"285\" \/><\/p><p>When you purchase an insurance policy in Malaysia, like most countries, you pay what is known as a\u00a0<a href=\"https:\/\/www.investopedia.com\/terms\/i\/insurance-premium.asp\" target=\"_blank\" rel=\"noopener noreferrer\"><strong>\u201cpremium\u201d<\/strong><\/a>\u00a0to the provider. Premium is usually\u00a0<strong>paid in installments<\/strong>, but\u00a0<em>some may require upfront payment<\/em>\u00a0in full before coverage begins. In return the provider will\u00a0<strong>give out financial compensation depending on the\u00a0<em>intended coverage<\/em>.<\/strong><\/p><p>As you learn more and more about insurance, you\u2019ll find out that\u00a0<em>many things can be insured<\/em>, but\u00a0<strong>not all are applicable to you<\/strong>, whereas\u00a0<strong>some are highly critical<\/strong>\u00a0and even\u00a0<strong>compulsory by law<\/strong>.<\/p><p>\u00a0<\/p><h3><b>A List of Common Insurance<\/b><\/h3><h4>1. General Insurance<\/h4><p><img decoding=\"async\" class=\"alignnone size-medium wp-image-1935\" src=\"https:\/\/www.ibpo.com.my\/wp-content\/uploads\/2021\/01\/insurance-agent-working-car-accident-claim-process-min-300x200.jpg\" sizes=\"(max-width: 300px) 100vw, 300px\" srcset=\"https:\/\/www.ibpo.com.my\/wp-content\/uploads\/2021\/01\/insurance-agent-working-car-accident-claim-process-min-300x200.jpg 300w, https:\/\/www.ibpo.com.my\/wp-content\/uploads\/2021\/01\/insurance-agent-working-car-accident-claim-process-min-1024x683.jpg 1024w, https:\/\/www.ibpo.com.my\/wp-content\/uploads\/2021\/01\/insurance-agent-working-car-accident-claim-process-min-768x512.jpg 768w, https:\/\/www.ibpo.com.my\/wp-content\/uploads\/2021\/01\/insurance-agent-working-car-accident-claim-process-min-1536x1024.jpg 1536w, https:\/\/www.ibpo.com.my\/wp-content\/uploads\/2021\/01\/insurance-agent-working-car-accident-claim-process-min-2048x1366.jpg 2048w, https:\/\/www.ibpo.com.my\/wp-content\/uploads\/2021\/01\/insurance-agent-working-car-accident-claim-process-min-219x146.jpg 219w, https:\/\/www.ibpo.com.my\/wp-content\/uploads\/2021\/01\/insurance-agent-working-car-accident-claim-process-min-50x33.jpg 50w, https:\/\/www.ibpo.com.my\/wp-content\/uploads\/2021\/01\/insurance-agent-working-car-accident-claim-process-min-112x75.jpg 112w, https:\/\/www.ibpo.com.my\/wp-content\/uploads\/2021\/01\/insurance-agent-working-car-accident-claim-process-min-942x628.jpg 942w, https:\/\/www.ibpo.com.my\/wp-content\/uploads\/2021\/01\/insurance-agent-working-car-accident-claim-process-min-750x500.jpg 750w, https:\/\/www.ibpo.com.my\/wp-content\/uploads\/2021\/01\/insurance-agent-working-car-accident-claim-process-min-1140x760.jpg 1140w, https:\/\/www.ibpo.com.my\/wp-content\/uploads\/2021\/01\/insurance-agent-working-car-accident-claim-process-min-scaled.jpg 1920w\" alt=\"Car Insurance Claim Process\" width=\"300\" height=\"200\" \/><\/p><ul><li><strong>Motor Insurance<\/strong>: Vehicle owners are\u00a0<strong>required by law<\/strong>\u00a0to purchase a third party motor insurance.<\/li><li><strong>Travel Insurance:<\/strong>\u00a0A small payment as low as RM 10\u00a0<strong>insuring a trip against inconveniences<\/strong>\u00a0like\u00a0<em>flight cancellations<\/em>\u00a0and\u00a0<em>missing baggage<\/em>. Protection can potentially save you up to hundreds of thousands of Ringgit.<\/li><\/ul><p>\u00a0<\/p><h4>2. Health Insurance<\/h4><p><img decoding=\"async\" class=\"alignnone size-medium wp-image-1936\" src=\"https:\/\/www.ibpo.com.my\/wp-content\/uploads\/2021\/01\/doctor-with-stethoscope-hands-hospital-background-min-300x200.jpg\" sizes=\"(max-width: 300px) 100vw, 300px\" srcset=\"https:\/\/www.ibpo.com.my\/wp-content\/uploads\/2021\/01\/doctor-with-stethoscope-hands-hospital-background-min-300x200.jpg 300w, https:\/\/www.ibpo.com.my\/wp-content\/uploads\/2021\/01\/doctor-with-stethoscope-hands-hospital-background-min-1024x683.jpg 1024w, https:\/\/www.ibpo.com.my\/wp-content\/uploads\/2021\/01\/doctor-with-stethoscope-hands-hospital-background-min-768x512.jpg 768w, https:\/\/www.ibpo.com.my\/wp-content\/uploads\/2021\/01\/doctor-with-stethoscope-hands-hospital-background-min-1536x1024.jpg 1536w, https:\/\/www.ibpo.com.my\/wp-content\/uploads\/2021\/01\/doctor-with-stethoscope-hands-hospital-background-min-2048x1365.jpg 2048w, https:\/\/www.ibpo.com.my\/wp-content\/uploads\/2021\/01\/doctor-with-stethoscope-hands-hospital-background-min-219x146.jpg 219w, https:\/\/www.ibpo.com.my\/wp-content\/uploads\/2021\/01\/doctor-with-stethoscope-hands-hospital-background-min-50x33.jpg 50w, https:\/\/www.ibpo.com.my\/wp-content\/uploads\/2021\/01\/doctor-with-stethoscope-hands-hospital-background-min-113x75.jpg 113w, https:\/\/www.ibpo.com.my\/wp-content\/uploads\/2021\/01\/doctor-with-stethoscope-hands-hospital-background-min-942x628.jpg 942w, https:\/\/www.ibpo.com.my\/wp-content\/uploads\/2021\/01\/doctor-with-stethoscope-hands-hospital-background-min-750x500.jpg 750w, https:\/\/www.ibpo.com.my\/wp-content\/uploads\/2021\/01\/doctor-with-stethoscope-hands-hospital-background-min-1140x760.jpg 1140w, https:\/\/www.ibpo.com.my\/wp-content\/uploads\/2021\/01\/doctor-with-stethoscope-hands-hospital-background-min-scaled.jpg 1920w\" alt=\"Doctor In Charge of Medical Claims\" width=\"300\" height=\"200\" \/><\/p><ul><li><strong>Medical Insurance<\/strong>: This is the most common insurance, and for good reason. It\u00a0<strong>reimburses the cost of in-patient hospital treatment and medical expenses<\/strong>. It\u2019s a smart move to prioritise medical insurance.<\/li><li><strong>Critical Illness Insurance:<\/strong>\u00a0Provides a\u00a0<strong>lump sum payment<\/strong>\u00a0to the insured or beneficiaries\u00a0<strong>upon diagnosis of a critical illness<\/strong>, which\u00a0<em>helps cover recovery expenses<\/em>\u00a0and\u00a0<em>loss of income<\/em>.<\/li><\/ul><p>\u00a0<\/p><h4>3. Life and Personal Accident Insurance<\/h4><p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-medium wp-image-1938\" src=\"https:\/\/www.ibpo.com.my\/wp-content\/uploads\/2021\/01\/people-exercising-300x300.jpg\" sizes=\"(max-width: 300px) 100vw, 300px\" srcset=\"https:\/\/www.ibpo.com.my\/wp-content\/uploads\/2021\/01\/people-exercising-300x300.jpg 300w, https:\/\/www.ibpo.com.my\/wp-content\/uploads\/2021\/01\/people-exercising-1024x1024.jpg 1024w, https:\/\/www.ibpo.com.my\/wp-content\/uploads\/2021\/01\/people-exercising-150x150.jpg 150w, https:\/\/www.ibpo.com.my\/wp-content\/uploads\/2021\/01\/people-exercising-768x768.jpg 768w, https:\/\/www.ibpo.com.my\/wp-content\/uploads\/2021\/01\/people-exercising-1536x1536.jpg 1536w, https:\/\/www.ibpo.com.my\/wp-content\/uploads\/2021\/01\/people-exercising-2048x2048.jpg 2048w, https:\/\/www.ibpo.com.my\/wp-content\/uploads\/2021\/01\/people-exercising-146x146.jpg 146w, https:\/\/www.ibpo.com.my\/wp-content\/uploads\/2021\/01\/people-exercising-50x50.jpg 50w, https:\/\/www.ibpo.com.my\/wp-content\/uploads\/2021\/01\/people-exercising-75x75.jpg 75w, https:\/\/www.ibpo.com.my\/wp-content\/uploads\/2021\/01\/people-exercising-85x85.jpg 85w, https:\/\/www.ibpo.com.my\/wp-content\/uploads\/2021\/01\/people-exercising-80x80.jpg 80w, https:\/\/www.ibpo.com.my\/wp-content\/uploads\/2021\/01\/people-exercising-628x628.jpg 628w, https:\/\/www.ibpo.com.my\/wp-content\/uploads\/2021\/01\/people-exercising-90x90.jpg 90w, https:\/\/www.ibpo.com.my\/wp-content\/uploads\/2021\/01\/people-exercising-370x370.jpg 370w, https:\/\/www.ibpo.com.my\/wp-content\/uploads\/2021\/01\/people-exercising-750x750.jpg 750w, https:\/\/www.ibpo.com.my\/wp-content\/uploads\/2021\/01\/people-exercising-1140x1140.jpg 1140w, https:\/\/www.ibpo.com.my\/wp-content\/uploads\/2021\/01\/people-exercising-scaled.jpg 1920w\" alt=\"People Exercising to Improve Their Quality of Life\" width=\"300\" height=\"300\" \/><\/p><ul><li><strong>Term Life Insurance:<\/strong>\u00a0If the insured\u00a0<strong>dies or suffers a permanent disability<\/strong>\u00a0during policy period, beneficiaries\u00a0<strong>receive a payout<\/strong>. Timeframe is usually 10, 20, or 30 years.<\/li><li><strong>Whole Life Insurance:<\/strong>\u00a0Similar to\u00a0<em>Term Life Insurance<\/em>, but\u00a0<strong>covers the insured\u2019s entire life<\/strong>. As expected, the\u00a0<strong>premium is significantly higher<\/strong>\u00a0because\u00a0<strong>payouts are guaranteed<\/strong>.<\/li><li><strong>Personal Accident Insurance:<\/strong>\u00a0Provides\u00a0<strong>protection for\u00a0<em>death<\/em>,\u00a0<em>disability<\/em>, and\u00a0<em>medical expenses<\/em>\u00a0from an accident<\/strong>. The coverage is more limited as benefit is\u00a0<strong>limited only to accidents<\/strong>.<\/li><\/ul><p>\u00a0<\/p><h3><b>Other Types of Insurance<\/b><\/h3><p>Some types of insurance have\u00a0<strong>savings or investment-linked policies<\/strong>. On top of the standard coverage, the policy might come with\u00a0<strong>additional features<\/strong>\u00a0such as\u00a0<strong>guaranteed cash payments<\/strong>,\u00a0<strong>dividend payouts<\/strong>, or a\u00a0<strong>maturity benefit<\/strong>.<\/p><p>You can also choose to purchase\u00a0<strong>housing insurance<\/strong>. It is exactly what it sounds like \u2013 an\u00a0<strong>insurance policy for your home and belongings<\/strong>\u00a0against a set of\u00a0<em>undesired scenarios<\/em>.<\/p><p>\u00a0<\/p><h2><b>Picking an Insurance Plan<\/b><\/h2><p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-medium wp-image-1937\" src=\"https:\/\/www.ibpo.com.my\/wp-content\/uploads\/2021\/01\/happy-young-asian-couple-realtor-agent-min-300x200.jpg\" sizes=\"(max-width: 300px) 100vw, 300px\" srcset=\"https:\/\/www.ibpo.com.my\/wp-content\/uploads\/2021\/01\/happy-young-asian-couple-realtor-agent-min-300x200.jpg 300w, https:\/\/www.ibpo.com.my\/wp-content\/uploads\/2021\/01\/happy-young-asian-couple-realtor-agent-min-1024x683.jpg 1024w, https:\/\/www.ibpo.com.my\/wp-content\/uploads\/2021\/01\/happy-young-asian-couple-realtor-agent-min-768x512.jpg 768w, https:\/\/www.ibpo.com.my\/wp-content\/uploads\/2021\/01\/happy-young-asian-couple-realtor-agent-min-1536x1024.jpg 1536w, https:\/\/www.ibpo.com.my\/wp-content\/uploads\/2021\/01\/happy-young-asian-couple-realtor-agent-min-2048x1365.jpg 2048w, https:\/\/www.ibpo.com.my\/wp-content\/uploads\/2021\/01\/happy-young-asian-couple-realtor-agent-min-219x146.jpg 219w, https:\/\/www.ibpo.com.my\/wp-content\/uploads\/2021\/01\/happy-young-asian-couple-realtor-agent-min-50x33.jpg 50w, https:\/\/www.ibpo.com.my\/wp-content\/uploads\/2021\/01\/happy-young-asian-couple-realtor-agent-min-113x75.jpg 113w, https:\/\/www.ibpo.com.my\/wp-content\/uploads\/2021\/01\/happy-young-asian-couple-realtor-agent-min-942x628.jpg 942w, https:\/\/www.ibpo.com.my\/wp-content\/uploads\/2021\/01\/happy-young-asian-couple-realtor-agent-min-750x500.jpg 750w, https:\/\/www.ibpo.com.my\/wp-content\/uploads\/2021\/01\/happy-young-asian-couple-realtor-agent-min-1140x760.jpg 1140w, https:\/\/www.ibpo.com.my\/wp-content\/uploads\/2021\/01\/happy-young-asian-couple-realtor-agent-min-scaled.jpg 1920w\" alt=\"Young Couple Picking Out Insurance Plans\" width=\"300\" height=\"200\" \/><\/p><p>First off,\u00a0<strong>determine the level of protection you \u201c<em>want\u201d<\/em>\u00a0and \u201c<em>need\u201d<\/em><\/strong>. You don\u2019t absolutely have to purchase every available insurance out there. One thing is for sure though, the\u00a0<em>better the coverage<\/em>, the\u00a0<em>higher the premium<\/em>, so be sure to measure and think that through when going through different plans.<\/p><p>A sensible strategy is to\u00a0<strong>get basic plans first<\/strong>, as you\u00a0<em>start earning more<\/em>, or\u00a0<em>when your family grows<\/em>, you\u00a0<strong>can dive deeper into additional coverage<\/strong>\u00a0options.<\/p><p>\u00a0<\/p><h2><strong>The Bottom Line<\/strong><\/h2><p>In essence,\u00a0<em><strong>everybody will need insurance sometime<\/strong>\u00a0in their lives<\/em>, but the degrees vary. If in doubt, you can always get the\u00a0<strong>advice of\u00a0<a href=\"https:\/\/www.ibpo.com.my\/contact\/\">insurance advisors<\/a><\/strong>\u00a0to\u00a0<strong>protect you<\/strong>,\u00a0<strong>your family<\/strong>, and\u00a0<strong>your assets<\/strong>.<\/p><\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/div>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>[xts_html_block id=&#8221;3506&#8243;] Stripped to its most basic meaning, insurance means\u00a0protection against an unwanted event. An insurance policy covers you financially if\/when said events occur, but there is\u00a0more to it than just purchasing a coverage. There is also no one insurance policy that covers\u00a0every single risk\u00a0to your\u00a0health,\u00a0life, and\u00a0properties, so it is\u00a0important to know how to navigate [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":3857,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[17,61,73],"tags":[84,64,78,103],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>The Beginner\u2019s Guide to Insurance in Malaysia - IBPO Group<\/title>\n<meta name=\"description\" content=\"Stripped to its most basic meaning, insurance means protection against an unwanted event. 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