Medical Insurance
Accompanying your restorative journey mentally, physically, and financially.
Life is full of risks, but a solid financial planning will make sure that your best days are ahead.
Thanks to medical advancements, humans are living longer lives than ever before. But, with the cost of medical treatments on the up-and-up, JR Global recommends that you re-evaluate your existing policies for adequacy of your medical coverage.
What does a standard Medical policy offered look like?
Hospital & Surgical Insurance Policy (”H&S”)
- Outpatient Benefits
Emergency Accident Treatment
Post-Hospitalisation Treatment
- Inpatient Benefits
Hospital Room & Board
In-hospital Physician Visit
Daily hospital allowance
Surgeon Fees
- Special Benefits
Ambulance Fee
Statistics
- 59% of Malaysians do not own a medical policy, despite medical costs ascending >12% per annum. Gross written premium value by medical insurances in Malaysia was RM1.157 billion in 2018, up just 5.15% from 2017.
- Malaysians spend 5.1% (2019) of their monthly household expenditure on healthcare (up nearly 47% in 8 years), where: i) 81.4% is derived from current income, ii) 35.8% from savings, iii) 8.1% from insurance reimbursement, and iv) ±11% borrowed from friends and family.
In 2019, 40.4% of out-of-pocket expenditure is spent on outpatient health care… 24.5% on self-care, 19.7% on pharmacy visits, inpatient health care (7.7%), and oral health care (3.3%)
Claims Process
- Notify us
Inform your insurer. Give details such as policy number, name of claimant, name of hospital, date of admission or accident, diagnosis/accident as soon as possible but no later than 30 days. - Seek medical advice
Seek medical treatment from a qualified and registered Medical practitioner. - Make police report
Report to the police if it is a vehicle accident or fatal accident.
