Takaful Insurance in Malaysia is monitored by Bank Negara Malaysia     
The difference between Insurance and Takaful          
Life Takaful and Medical Takaful should be understand correctly

Pay the medical bill your and claim VS auto pay by Takaful Insurance operator

Why life Takaful or insurance important in Malaysia

Medical Insurance or Takaful very important

Takaful insurance in Malaysia is Monitored by Bank Negara Malaysia

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.

The difference between Takaful and Insurance

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.

Life Takaful and Medical Takaful should be understand correctly

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.

Pay the medical bill your and claim VS auto pay by 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 money.

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.

Why life Takaful or insurance important in Malaysia

Three main reason people need takaful or insurance in Malaysia and worldwide :

1. Debt if we die or permanently disable.

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 or Takaful very important

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.

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