Life insurance policies are contracts in which the policyholder pays regular premiums to an insurance company. Insurance companies pay death benefits to the policy’s beneficiaries upon the policyholder’s death. Having life insurance is essential if someone in your life relies on your income. Unfortunately, many people are not carrying the right type or amount of life coverage. Despite popular belief, the cost of life insurance is lower than you might think. Some people view the average cost of life insurance as five times more than it is, which isn’t the case.
A good life insurance company can help you secure the coverage you need to replace your income, settle debts, or take care of expenses your family faces. For example, they can help you cover the cost of your child’s education or support your elderly parents. By researching and ranking the top life insurance companies, you will find the life insurance process much more manageable. The rating’s basis is on different factors, including financial strength, customer service, and cost. Based on our research, the following are the best life insurance companies in Malaysia for 2022.
Malaysia’s Best Life Insurance Companies
Great Eastern Life Assurance (Malaysia)
Great Eastern Life Assurance has one of the largest networks in the Life Insurance industry, and it has become a household name. There are currently more than 20,000 associates at Great Eastern around the country. Life insurance has been one of Great Eastern’s best-selling products since its founding. You can choose from a range of life insurance plans such as great 110 legacy, great early vantage care 2, great generation care, etc., based on your needs at different stages of your life. It ensures your family’s protection and that all that matters to you is protected.
Prudential Life Insurance
Founded in 1873, Prudential Financial is reputable, thanks to its long history. In terms of its financial strength, Prudential Insurance Company has an A+ rating. There are several types of term life insurance offered by Prudential. They offer universal and index universal life insurance, variable universal life insurance, and riders such as an accidental death benefit, a living needs gift, and a children’s protection rider.
AIA Life Insurance
In the life insurance sector, AIA Group Limited and its subsidiaries (collectively “AIA” or the “Group”) are the largest independent group of companies in Asia. AIA was founded in Shanghai almost a century ago. The company is the global leader in life insurance premiums in the Asia-Pacific region and dominates its markets. With AIA’s life insurance products, consumers can choose from a term series of A-Life insurance packages and get a free online insurance quote. What is the cost of life insurance with AIA? Find out by requesting a quote online or speaking to an agent.
Allianz Life Insurance
Allianz life insurance company provides affordable term life insurance cover and has established financial strength and reliability over time, which places it among the top life insurance providers in our review.
AXA Life Insurance
AXA is one of Malaysia’s top life insurance companies for instant issue policies because you can apply online and receive term life coverage without undergoing a medical exam. In addition to its high ratings, AXA’s long history helped it gain a spot in our ranking.