Takaful and insurance
companies in Malaysia should follow the certain criteria
that involve syariah rules before they start to be
a takaful or insurance operator. These company will be
monitored by Bank Negara Malaysia according to the law (Section 6
Takaful Act 1984). These company must appoint a Syariah Advisor Body
to make sure their business follow the syariah rules.
Insurance is a policy that we buy to protect us. We pay
monthly payment to buy a policy. Where takaful is a
contribution contract. We contribute our money to a
takaful operator. The takaful operator will use our
contribution to help any contributor that have trouble.
Normally life takaful or
insurance cover serious and high profile cases such as
death, critical illness and total permanent disability.
As we can see the coverage are for serious cases that
requires high cost and major operation.
Medical takaful and
insurance normally cover the medical cases like minor
accident, minor surgery, minor disease like dengue,
hospitality, nursing care, half disability and other
optional according to takaful and medical insurance plan
that been proposed and agreed between customer and
takaful insurance operator.
Takaful and insurance
operator normally have auto pay method and normal claim
method to cover the medical bill by hospital.
Normal claim need you to pay
first the medical bill using your money then bring the
receipt to your takaful insurance company to claim. The
claim will be processed and you will get back your
Auto pay method doesn't need
you to use your money because the bill will be pay by
your takaful insurance company directly to the hospital.
Medical card is a
identification card that useful especially in emergency
situation. People can identify you as a takaful
insurance policy holder through medical card. The
takaful or insurance policy number and call center
number will be there as useful reference.
Three main reason people
need takaful or insurance in Malaysia and worldwide :
1. Debt if we die or
2. Total permanent
disability that cause loose our job and income.
3. Critical illness or high
profile illness that require high medical cost that
involve major operation etc. Government hospital
normally just provides only free services for doctor and
specialist, but the tools or organs is not free.
Medical insurance Takaful is
important to get better services for small and medium
case sin private hospital. Government hospital normally
give priority on serious and emergency cases. Small and
medium cases will take longer time to queue and get our
turn especially for small cases like fever, eye, light
broken and etc.