List Of Top Life Insurance Companies in Malaysia
- By CompareHero.my
- July 6, 2017
Life insurance is a form of risk management for all individuals. It protects you and your family against unforeseen circumstances that may put your health and your life in jeopardy. With life insurance, you are covered financially and can feel comforted knowing that your family will be taken care of as well, based on the insurance plan you have signed-up for.
Life insurance is generally an agreement you sign between yourself (policyholder) and the insurer (insurance company). You make monthly payments to your insurance for a fixed amount of coverage and benefits. Of which, these benefits will be paid out to you or the beneficiaries of the policy if events such as death, terminal illness, critical illness or total and permanent disability occur.
See also: Why Should You Get Life Insurance?
To make sure you are set up with an insurance company that you trust and that you can relate to, we have compiled a list of all life insurance providers in one list. Use this list to find an insurance company that matches your particular needs.
Contents
- Allianz Life Insurance Malaysia Berhad
- AmMetLife Insurance Berhad
- AIA Bhd.
- AXA AFFIN Life Insurance Berhad
- Etiqa Insurance Berhad
- Great Eastern Life Assurance (Malaysia) Berhad
- Hannover Rueck SE, Malaysian Branch
- Hong Leong Assurance Berhad
- Manulife Insurance Berhad
- MCIS Insurance Berhad
- Prudential Assurance Malaysia Berhad/Prudential BSN Takaful Berhad
- Sun Life Malaysia Assurance Berhad
- Tokio Marine Life Insurance Malaysia Bhd.
- Gibraltar BSN Life Berhad
- Zurich Insurance Malaysia Berhad
- Which insurance company is best?
Allianz Life Insurance Malaysia Berhad
Allianz Malaysia Berhad is part of Allianz Group in Germany. Their life insurance arm is known as Allianz Life Insurance Malaysia Berhad. Allianz Life offers a comprehensive range of life and health insurance as well as investment-linked products and is one of the fastest growing life insurers in Malaysia. The company was founded in Malaysia in 1983 and their main line of business includes the underwriting of life insurance. Aside from life insurance, Allianz also offers Medical and Critical Illness insurance. They currently offer 5 life insurance plans each with differing benefits and coverage amounts. To apply for life insurance from Allianz Life Insurance, check out Allianz’s life insurance page.
AmMetLife Insurance Berhad
AmMetLife Insurance Berhad (formerly known as AmLife Insurance Berhad) has been established in Malaysia since 1973. The company is in partnership with AmBank Group and MetLife International Holdings which was a strategic formation in 2014. AmMetLife offers a comprehensive range of life insurance solutions, mostly distributed through the AmBank Group of branches and authorised life insurance agents. AmBank is one of the largest banking groups in Malaysia which also handles the underwriting of life insurance, family takaful, and general insurance. MetLife, Inc is a leading global provider of insurance and is headquartered in New York. To apply for life insurance from AmMetLife Insurance, check out the life insurance page.
AIA Bhd.
AIA Bhd. is a leading insurer in Malaysia and has been established in the country since 1948. The company offers a comprehensive suite of insurance including Life Protection, Health, Personal Accident, Employee Benefits, General Insurance, Mortgage, Retirement and Family Takaful products. The company Part of the AIA Group, the largest independent publicly listed pan-Asian life insurance group, AIA Bhd. has the financial strength, experience, service centre network and a well-trained team of more than 2,000 staff to serve their 3 million customers nationwide. To apply for life insurance from AIA, check out the life insurance page.
AXA AFFIN Life Insurance Berhad
AXA AFFIN Life Insurance Berhad has been established in Malaysia since February 2006. The company is a joint venture between AFFIN Holdings Berhad and AXA Group, a worldwide financial protection leader, which is headquartered in Paris. AXA AFFIN Life is focused on helping individuals manage risk and achieve their financial goals. Their comprehensive range of Life Protection products includes various benefits to suit your needs. The company is able to provide a protection plan that suits your budget, or if you require a basic life protection plan, protection for your employees, or cash benefits for when you are hospitalised or in the unfortunate event of death. To apply for life insurance from AXA AFFIN Life Insurance, check out the life insurance page.
Etiqa Insurance Berhad
Etiqa was first established in Malaysia in 2005 when Maybank Ageas (formerly known as Mayban Ageas), Maybank’s insurance and takaful arm consisting of Mayban General Assurance, Mayban Life Assurance and Mayban Takaful merged with Malaysia National Insurance Berhad, Malaysia’s largest national insurer and its subsidiary, Takaful Nasional Sdn Bhd, Malaysia’s premier Takaful provider. Within 2 years, the company became Malaysia’s leading corporate insurer; proudly associated with the Petronas Twin Towers, AirAsia, Malaysia Airlines, MISC and more. Today, Etiqa is a true multi-channel distributor of Insurance and Takaful products via its 15,200 agency force, 28 insurance and takaful branches, more than 400 Maybank branches, ATMs and other third-party banks, providing full accessibility and total convenience to customers, unmatched by any other. To apply for life insurance from Etiqa Insurance Berhard, check out the life insurance page.
Great Eastern Life Assurance (Malaysia) Berhad
Great Eastern Life was established in Malaysia since 1908 and was certified by The Malaysia Book of Records in 1998 as “The Oldest and Largest Life Insurer” in Malaysia.To date, Great Eastern Life has 21 operational branch offices and products include life insurance plans, investment-linked plans, mortgage protection, business protection, employee benefits, medical insurance and group health benefit schemes. Great Eastern Life Assurance (Malaysia) Berhad is a wholly-owned subsidiary of Great Eastern Holdings Limited (GEH) and its ultimate holding company is Oversea-Chinese Banking Corporation Limited (OCBC). In 2017, Great Eastern Life made history by becoming the only life insurance company to be conferred the prestigious Reader’s Digest Trusted Brand Gold Award in the Life Insurance category for the 14th consecutive year. To apply for life insurance from Great Eastern Life Assurance, check out the life insurance page.
Hannover Rueck SE, Malaysian Branch
Hannover Rück SE has maintained a representative presence in Kuala Lumpur since 1990 which was upgraded to a full Branch in 1995. The branch offers life reinsurance. Operating under the group, Hannover Re, the brand holds a consistently strong position among the leading internationally operating life and health reinsurers. The branch in Kuala Lumpur is located at the Integra Tower in The Intermark on Jalan Tun Razak. To find out more about the insurance company, head over to the Malaysian site.
Hong Leong Assurance Berhad
Hong Leong Assurance Berhad is Malaysia’s largest local life insurance company. It is a well-established and respected Malaysian brand offering financial planning and protection solutions to meet the various needs of Malaysians at different stages of their lives. The company initially began as a general insurance business under the name of Malaysia Pacific Insurance Berhad in 1972. Today, it is a subsidiary of HLA Holdings Sdn Bhd (HLAH), which is wholly-owned by Hong Leong Financial Group Berhad (HLFG), the financial services arm of Hong Leong Group Malaysia. Awarded by Asian Banking and Finance’s Insurance Asian Award 2016 as the Domestic Life Insurer of the Year – Malaysia, HLA is one of Malaysia’s leading domestic brands, specialising in life insurance products and services. To apply for life insurance from Hong Leong Assurance, check out the life insurance page.
Manulife Insurance Berhad
Manulife Malaysia was first established in 1963 as a branch of Bahamas-based British American Insurance Co. Throughout the years it has changed its name numerous times until it eventually became known as Manulife Insurance (Malaysia) Berhad following the large-scale global merger between Canadian-based Manulife Financial Corporation and US based John Hancock Financial Services, Inc in 2004. Manulife Malaysia underwent a restructuring exercise in 2008 and effective 1st October 2008, Manulife Insurance (Malaysia) Berhad became Manulife Holdings Berhad.
Subsidiaries companies under Manulife Holdings Berhad are Manulife Insurance Berhad and Manulife Asset Management Services Berhad. It offers life insurance, savings and investments, education planning, retirement planning, business solutions and health insurance. To apply for life insurance from Manulife Insurance, check out the life insurance page.
MCIS Insurance Berhad
MCIS Insurance was established in Malaysia as a licensed life insurer under the Financial Services Act 2013 and is part of the Sanlam Group. Sanlam is a leading diversified Pan-African financial services group listed on the Johannesburg and Namibian Stock Exchanges. Sanlam was established in 1918 as a life insurance company. The group’s products and services include life and general insurance, financial planning, retirement, investments, and wealth.
Prudential Assurance Malaysia Berhad/Prudential BSN Takaful Berhad
Prudential has been established in Malaysia since 1924 with a longstanding presence in the Asian region for over 90 years. Takaful products distributed by Prudential Assurance wealth planners and agents are underwritten by Prudential BSN Takaful Berhad. As a leading and innovative insurer, Prudential Assurance has 45 branches and bancassurance distribution partners network nationwide, with more than 1,700 employees. Prudential Assurance is an indirect wholly owned subsidiary of UK-based Prudential plc. Prudential plc is incorporated in England and Wales, and its affiliated companies constitute one of the world’s leading financial services groups serving around 24 million customers. To apply for life insurance from Prudent Assurance, check out the life insurance page.
Sun Life Malaysia Assurance Berhad
Sun Life Malaysia Assurance Berhad and Sun Life Malaysia Takaful Berhad is a joint venture by Sun Life Financial and Avicennia Capital Sdn. Bhd., a fully owned Khazanah Nasional Berhad investment holding company, specialising in Insurance and Takaful. Sun Life Malaysia offers a comprehensive range of life insurance and Takaful products and services through a range of distribution channels including bancassurance, direct marketing, telemarketing and government and corporate business. The centerpiece of Sun Life Malaysia’s distribution strategy is its exclusive bancassurance agreement with CIMB Bank in Malaysia where it is able to distribute its products and services through the Bank’s extensive network of branches.To apply for life insurance from Prudent Assurance, check out the life insurance page.
Tokio Marine Life Insurance Malaysia Bhd.
Tokio Marine Life Insurance Malaysia (formerly known as TM Asia Life Malaysia Bhd) is an established life insurance company with a history of more than 65 years. Tokio Marine Life’s presence in Malaysia is the result of the strategic alliance between Tokio Marine & Nichido Fire Insurance Co., Ltd. and Asia General Holdings (Asia Life’s parent company) in March 2007. The company was recognised twice with the BrandLaureate Award 2014-2015 for Best Brand in Life Insurance in Malaysia. To apply for life insurance from Tokio Marine Life Insurance, check out the life insurance page.
Gibraltar BSN Life Berhad
Gibraltar BSN is a growing life insurance company – providing simplified, affordable insurance solutions that are accessible to Malaysians from all walks of life. Formerly known as Uni.Asia Life (UAL) Assurance, the company changed their name to Gibraltar BSN Life in 2014 following a RM518m acquisition by Prudential Financial, Inc. (PFI)* of the United States – through its subsidiary, The Prudential Insurance Company of America (PICA) – and Bank Simpanan Nasional (BSN). With a network of 8 branches nationwide, Malaysians can find a comprehensive range of insurance policies covering life protection, savings & investments, retirement and more. To apply for life insurance from Gibraltar BSN Life, check out the life insurance page.
Zurich Insurance Malaysia Berhad
Zurich has a well-established presence in Malaysia with a workforce of Life Insurance, General Insurance, Family Takaful and General Takaful agents. On 1 July 2016, MAA Takaful Berhad became part of Zurich. Effective 2 August 2016, MAA Takaful Berhad was officially renamed to Zurich Takaful Malaysia Berhad (ZTMB). Through ZTMB and its sister company, Zurich Insurance Malaysia Berhad (ZIMB), Zurich now offers a full range of Insurance and Takaful solutions covering both Life and General Insurance products, as well as Family Takaful and General Takaful products; all under a single brand. To apply for life insurance from Zurich Insurance, check out the life insurance page.
Which insurance company is best?
It all depends on your needs and the type of coverage you’re looking for. Some companies offer investment-linked life insurance protection, others offer extensive protection at a flexible and low-cost premium repayment. There are also plans that cover you throughout your different stages in life, or insurance plans specifically for when you are in your golden years. Be sure to check out our Insurance Category page to read all our Insurance related articles to help you identify how to find the best insurance plan for you. If you’re looking for a loan to help finance your needs, use our free personal loan comparison tool to help you.
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Wedding Reception Venues In KL & Selangor That Won’t Blow Your Budget
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Let’s face it, wedding planning and throwing your wedding reception does not come cheap. These days with the rise of living costs, inflation, and GST, most hotels and wedding venues have increased their rates per person or per table.
Are weddings a good investment? Financially, maybe not. Many couples find themselves pressured to throw an extravagant wedding reception in the hope of keeping up with the Joneses’, but in reality, may find themselves trying to recuperate their finances after the wedding is over.
Some couples throw all their life savings into the wedding, rack up credit card debt, and withdraw a personal loan to have the wedding of their dreams. Don’t get us wrong though, a personal loan is a great financial tool to fund your wedding if you can afford the repayment over the tenure period.
To help you plan a wedding that you can afford and that can fit within your budget, here are a few tips to consider:
- Have a dry dinner with alcohol-free drinks. If your reception must absolutely have alcohol, consider keeping it to a limited bar with a few options such as beer and wine only.
- Instead of a full-blown dinner, consider throwing a brunch or tea-time reception instead.
- Is a ballroom full of guests you barely even know really your dream wedding? How about an intimate dinner reception with your closest family and friends instead? That reduces your headcount drastically and you’ll have a better time!
We’ve also done some research of our own, and here are the top wedding venues in KL with packages on a budget.
Wedding Venues in KL Under RM200 Per Person
Garden Wedding Venues
Duchess Place, No. 285, Jalan Ampang, Kuala Lumpur
- Website: http://duchessweddings.my/
- Price range: RM70 – RM180 per person
- Accommodates: 400 – 500 pax seated at one time; 600 – 1500
Duchess offers two packages – a wedding reception package and a solemnization ceremony package – both with catering and 2 x food tasting. The venue is actually a bungalow and it can be leased out for your special day. Food and décor arrangements will be handled by Duchess Weddings so that’s one less thing to worry about! We recommend taking a look at all their venues before deciding, and review past weddings they have done so you can get a feel of the setup and décor that you would want.
Lakesight, A-5-1, Jalan SS7/13A, Plaza Kelana Jaya, Petaling Jaya
- Website: https://www.facebook.com/Lakesight.venue
- Price range: RM30 – RM60 per person. All-inclusive packages are available.
- Accommodates: 150 pax (indoor and outdoor)
If you’re looking for a venue that provides an affordable all-inclusive package, Lakesight is a good bet. Packages include planning services, furniture, venue rental, decorations, entertainment and sound equipment, invitation cards. You can also add-on custom services including emcee, live band, makeup artist and hairstylist, photographer, and much more. Packages start from RM3,888. We suggest contacting the venue to make a prior appointment for venue viewing.
A-Park, 3275, Jalan Pulau Meranti, Kampung Pulau Meranti, Puchong Selangor
- Website: http://a-park.my/packages
- Price range: Daytime solemnization starts from RM30 per person (RM3,000 for 100 pax) between 9 am – 11 am
- Accommodates: 100 pax – 500 pax
This little cottage is located in Puchong and exudes a traditional English-style home. It overlooks a small lake and has an accompanying lawn which is a beautiful backdrop for all your wedding photos. Being a smaller venue, you can look forward to a more intimate gathering, and if you take their day packages, it fares a cheaper price. The package also includes food, pelamin/backdrop, decorations, basic audio and cooling systems and even parking space. There are three tiers of packages available: Silver, Gold, Platinum – each with their own price and offerings. The higher the tier, the more expensive the package (obviously).
Gita Bayu No.2 Jalan Bayu 1, 43300, Seri Kembangan, Selangor, Malaysia
- Website: http://www.gitabayu.com/index.html
- Price range: RM65 – RM110 per person
- Accommodates: 50 – 230 pax
If you’re a lover of nature, this could be an ideal location for you. It is a 10-acre tropical garden and you have the option of hosting your guests at the restaurant and an open/floating deck outdoors. The cuisine offered is both Western or Asian and you can have it served as a buffet style lunch or a sit-down dinner. Bear in mind that seating capacity differs based on seating or standing arrangements.
Sangkot Garden or Sangkot Villa in Dusun Tua, Hulu Langat, Selangor
- Website: http://sangkot.com
- Price range: RM23 – RM40 per person
- Accommodates: 500 pax – 1,000 pax
This is such a steal! All packages include canopy, chairs, tables, meja beradab, fresh flowers, wedding cake, lighting, audio system & music gazebo, emcee, RELA personnel, food & beverages, changing room for bride & groom, and surau. Outsourced catering is not allowed so you would need to pick from their available menu options.
This venue offers a traditional Malay setting and it is a great option for an outdoor garden wedding. You can dress it up in fairy lights at night to create a very romantic look and feel and with all the offerings in the package, we think this is one of the best value-for-money venues you can find in Selangor!
Indoor Wedding Venues
Menara KL (KL Tower), Jalan P Ramlee, Kuala Lumpur
- Website: http://www.menarakl.com.my/
- Price range: RM150 per pax onwards
Wouldn’t you want to hold your wedding in one of KL’s iconic towers? You would think it would cost you a fortune but KL Tower offers three different packages to give you a special day and it starts from as low as RM150 per person. You can choose the Open Deck or the Mega View Banquet Hall for a breath-taking view. This package offers buffet menus for guests, dome menus for a bridal table with three additional menus. Free food testing session for ten pax upon confirmation, fresh flowers on the bridal table, entrance arch and red carpet.
Optional seat covers and tablecloths thematically, dressing room for the bride and groom, usage of audio and visual equipment to complement your event and also a photography session at KL Tower Open Deck for the newlyweds.
Ciao Ristorante No. 20A, Jalan Kampung Pandan, off Jalan Tun Razak, 55100, Kuala Lumpur
- Website: http://ciao.com.my/venues-seating-capacity/
- Price range: RM128 – RM150 per person
- Accommodates: 200 – 300 pax
This is the oldest Italian restaurant in Malaysia which overlooks a beautiful backdrop of greenery and a golf course. They also have a small outdoor deck, so if you’re interested in an outdoor wedding, this venue can accommodate to your wishes. The venue will be able to propose the right seating style for your number of guests and whether you would wish for it to be held indoor, outdoor, or both. Basic entertainment includes background music and a PA system but for more, you would need to hire your own third-party service provider.
The Royale Chulan Hotel, 5 Jalan Conlay, Kuala Lumpur
- Website: https://www.royalechulan.com
- Price Range: RM160 per person
- Accommodates: 350 pax
Check out the indoor garden venue at the Royale Chulan Hotel if you want to host an outdoor wedding with the added security of a roof in case it rains. The hotel caters to all types of weddings, so if you’re looking for an 8-course Chinese dinner to a Malay buffet spread, you got it!
The hotel also offers packages including the Emperor Wedding, The Taj Mahal Wedding and The Royale Wedding from RM908 nett to RM1188 nett. Their wedding consultants will take care of everything for you and the package includes a complimentary bridal suite, one deluxe room, free corkage, decorative ice carving, floral wedding arch, specially designed gifts and much more.
Secret Garden Lifestyle, No.14, Lorong Yap Kwan Seng, 50450 Kuala Lumpur
- Website: http://gardenmoments.com.my/
- Price range: RM130+ per person
- Accommodates: 350 pax
This is double storey bungalow right on Jalan Yap Kwan Seng and offers a beautiful venue for weddings and private events. It comes with an open garden area, an indoor seating hall, and a balcony. Their Standard Package includes an Asian and International Fusion Buffet Package which includes dining décor, fresh flower bouquet for each table, exclusive use of the venue from 6 pm to midnight or 9 am to 3 pm.
If you’re looking for a personal loan to fund your dream wedding, look no further. Our free comparison tool can help you find the best low-interest personal loan to help you say your vows and marry your significant other.
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