April 20, 2021

How to Get The Best Pregnancy Insurance in Malaysia

min read

Certified Financial Planner in Malaysia

I hope this article helps you out with your pregnancy insurance shopping!

If you want to save time and just get me to match you with 1–2 pregnancy plans that best suit your needs, click here.

Certified Financial Planner in Malaysia

I hope this article helps you out with pregnancy insurance shopping!

If you want to save time and just get me to match you with 1–2 pregnancy plans that best suit your needs, click here.


While researching and trying to learn about EVERY detail of your pregnancy you probably have come across one of these terms:

  • Baby insurance
  • pregnancy plan / pregnancy insurance
  • maternity insurance
  • or prenatal and postnatal insurance

    (Industry professionals often call it "prenatal insurance")

It may have many names, but they all refer to the same thing:

An insurance product that protects you from losing money if something bad happens with your pregnancy or your baby.

For instance, when an expectant mother develops eclampsia...

Or when a miscarriage happens...

Or when baby is born with a disease or birth defect...

Just generally shitty situation that nobody wants to see happen. 🙁

OR  it may even be something that is much less serious but still unwanted by parents, like these two:

  • Jaundice (happens to more than 6 in 10 Malaysian babies!)
  • Premature birth (happens 24.5% of the time and is more likely to cause the baby future health complications).

How Would a Pregnancy Insurance Help?

If you have a pregnancy insurance coverage during such unfortunate events, the insurance company will either compensate you with a lump sum of cash (up to RM5,000)  OR  they will pay off your hospital bills for you (up to RM30,000).

When we mention "baby insurance" in this article...

We are only talking about preborn or unborn babies here! If you're looking for an insurance for your baby who has been born... First of all, congratulations! 😀


A pregnancy insurance is no longer right for you. You should instead look into getting a Medical Card and (optionally) a Critical Illness plan for your baby.


Want my help to compare what's available on the market?

Get it here.

When we mention "baby insurance" in this article...

We are only talking about preborn or unborn babies here! If you're looking for an insurance for your baby who has been born... First of all, congratulations! 😀


A pregnancy insurance is no longer right for you. You should instead look into getting a Medical Card and (optionally) a Critical Illness plan for your baby.


Want my help to compare what's available on the market?

Get it here.

So Which Insurance Companies in Malaysia Provide Pregnancy Insurances?

If you are pregnant and living in Malaysia, you have 4 insurance companies to choose from for your pregnancy insurance.

All of them happen to be big players of the industry.

They are: AIA, Great Eastern, Hong Leong Assurance, and Prudential.

More companies might start to offer this type of insurance in future.

When that happens I will make sure to update this article 🙂

Now.

If you wonder who offers THE BEST pregnancy insurance...

Honestly?

It really depends!

Because each brand has their own unique offering that makes them suitable for people with different concerns or priorities.

You'll see what this means soon as you read on.

What Are the Requirements for Getting a Pregnancy Insurance?

Perhaps you already knew this, but in case you didn't, here's a simple but important idea every insurance buyer needs to understand:

As you screen for qualified insurance plans from insurance companies...

THEY will also screen you to see if you are a healthy, eligible candidate.

As you screen for qualified insurance plans from insurance companies...

THEY will also screen you to see if you are a healthy, eligible candidate.

In fact, all insurance purchases work like this!

So here are the basic requirements you need to meet in order to begin getting a pregnancy insurance.

You are qualified to apply for a Pregnancy Insurance purchase if:

  • You are 13-35 weeks pregnant
  • You are 18-45 years old
  • You are not suffering from any health condition, e.g. gestational diabetes mellitus (GDM), hypertension, etc

Special Cases

If You Are Having an IVF Baby or Twins!

Feel free to skip this section if the title does not describe your pregnancy.

Otherwise, you would understand first-hand how your pregnancy carries more risks than a normal pregnancy.

More risks = higher chances an insurance company needs to pay you an insurance claim.

So, naturally, there are fewer companies who would offer a pregnancy insurance to the high-risk groups.

Still, all is not lost!

Choices for an IVF Pregnancy

As long as you're not carrying twins, triplets or more via an assisted reproductive treatment, there are 3 insurance companies accepting IVF baby cases.

(They also accept other methods of assisted reproduction, such as ICI, IUI and etc).

The 3 insurers are AIA, Great Eastern and Prudential.

But you can only start getting insured after 20 weeks of pregnancy for AIA;

For GE and Prudential, after 28 weeks of your pregnancy.

Which are both much later than normal pregnancy people but it is better than having nothing!

AIA handdrawn logo
Great Eastern handdrawn logo
Prudential handdrawn logo

Choices for a Twin Pregnancy

AIA handdrawn logo
Prudential handdrawn logo

On the other hand, if you have naturally conceived twins, you have 2 insurance companies accepting twins' cases.

They are AIA and Prudential.

A side note though, it would be compulsory for you to purchase 2 plans, 1 for each twin if you decide to take up the insurance.

Right now, there's not yet an insurer who is accepting triplets, quads or more.

If your pregnancy falls under these high-risk groups, you are more prone to premature birth and other pregnancy complications.

So in a sense... you might need a pregnancy insurance more than other people.

Especially if you haven't built a sufficient emergency fund for your family yet, and need a backup plan for those unforeseeable costs.

What Exactly Does a Pregnancy Insurance Cover?

*Disclaimer: Some of these coverages are excluded by certain insurance companies. If you are comparing plans yourself with no help, please pay attention to what each plan includes and excludes! Or get my help here.

Coverage for the Mother

A pregnancy insurance protects a mother from a host of risks a woman may face while being pregnant and after giving birth, including:

  • Pregnancy Complications
    e.g. eclampsia, amniotic fluid embolism, abruptio placentae, etc
  • Infectious Diseases*
    e.g. Influenza A, Ebola, Zika virus, rabies, typhoid fever, etc
  • Death of the Mother*
  • Death of unborn baby
  • Death of baby after birth*

Coverage for the Baby

A pregnancy insurance covers a multitude of risks and dangers a vulnerable baby may face after being born, including:

  • Neonatal Jaundice
  • Incubation
    Due to premature birth
  • Admission into Neonatal ICU (NICU)
  • Congenital Conditions (aka Birth Defects)
    e.g. cleft lip, hole in the heart, Down's syndrome, etc
  • Infectious Diseases*
    e.g. Influenza A, Ebola, Zika virus, rabies, typhoid fever, etc

Also, Actually, the Pregnancy Insurance Coverage Is Not Available as a Single Product (It's an Add-on Feature!)

Meaning if you want to buy ONLY the "pregnancy insurance coverage" part, you cannot...

Because no Malaysian insurance company is selling it that way currently.

Instead:

A pregnancy insurance coverage must be attached to a Life Insurance for your baby.

With that said, since we are on the topic of insurance trivia......

Here's another piece of info that will help you be less confused about all kinds of insurances!

An add-on feature for an insurance is called a "Rider".

Therefore, strictly speaking, the pregnancy insurance coverage we have been discussing in this article is a Rider!

(And NOT an insurance product that can stand alone or be sold on its own.)

Understanding The Relationship Between an Insurance Plan and Its Riders

Fully understanding this part will help the rest of this article make more sense.

If you would imagine it, buying an insurance can be a little bit like getting ice cream!

You get your ice cream in a base flavour and you add on "toppings" to make it into whatever you prefer.

In this context, your baby's Life Insurance is the base flavour of your ice cream.

And the pregnancy coverage rider is one of the many toppings you can choose to get.


Base flavour = Life Insurance
Toppings = Pregnancy Coverage Rider, 
Medical Card Rider, Critical Illness Rider, etc

Base flavour = Life Insurance
Toppings = Pregnancy Coverage Rider,

Medical Card Rider, Critical Illness Rider, etc


For How Long Does This Insurance Protect You and Your Baby?

The function of the pregnancy rider we're talking about in this article is to protect you against risks that can take place while you are pregnant (hence the term "prenatal insurance" mentioned in the beginning)... 

As well as after you have given birth (hence the term "postnatal insurance").

To break it down into clearer details, this is a typical timeline of a pregnancy insurance coverage:

From 13th week of pregnancy
Protection focuses on the pregnant mother
  • Death (due to pregnancy complications or childbirth)
  • Pregnancy complications
  • Death of unborn baby
Within 60 days from my Child's birth
Protection focuses solely on the child from here onwards
  • Death (within 30 days from birth)
  • Neonatal ICU (NICU)
  • Premature birth
  • Jaundice
  • Hospitalisation due to congenital condition(s)
  • Infectious diseases
Until my child turns age 5
  • Death
  • Total permanent disability (TPD)
  • Hospitalisation due to congenital condition(s)
  • Infectious diseases
Continued protection till my child reaches age 100
  • Death
  • Total permanent disability (TPD)
Optional with rider(s)
Continued protection till my child reaches age 100
  • Hospitalisation benefits (medical card)
  • Child specified illness
  • Critical illness

Note: This is a sample timeline of a typical pregnancy insurance coverage. Some coverages, terms and conditions can be different depending on which insurer and product you end up choosing. If you are comparing plans yourself with no help, again, please remember to pay attention to what each plan includes and excludes. Or my team and I will be happy to help you here.

The pregnancy insurance is a unique coverage that covers two lives — both the mother and the baby's — during the pregnancy and shortly after childbirth.

Which can be a form of convenience to a consumer like yourself.

Because it means there's no need to purchase separate insurances to protect both lives during the most crucial times of the maternity journey.

Another benefit that you can choose to tap into?

(As you've seen from the bottom of the timeline)

This insurance, with the help of a few other riders, has the potential to turn into a full-fledged health insurance for your child.

Enabling you to protect your child to the best of your abilities for the long term.

i.e. until he/she grows up more and not just until 5 years old.

AIA, Great Eastern, Hong Leong Assurance, Prudential — How Do They Compare?

Now, let's talk about what you really came to find out.

This is how the 4 insurance companies stack up against each other in their pregnancy coverage rider:

Click to enlarge the image.

Have you noticed?

Each company's pregnancy insurance coverage has its strengths and weaknesses!

So how you can go about this yourself is:

Step 1

Determine a budget range that you are ready to fork out every month.

Step 2

Start asking around for quotations from insurance agents from different companies to find the best plan with the most benefits that fits within the budget that you've set in Step 1.

OR, if you hate wasting time to do this yourself, or maybe you just dread meeting and turning down insurance agents...

The simply better way is to get help from a Licensed Financial Planner (LFP) like myself who has access to multiple insurance companies.

Yes, Multiple.

More than one.

You read that right.

As a Licensed Financial Planner, I propose and sell insurances of all types, and of almost every brand in Malaysia (total 14 brands now).

Including the four we are discussing today (AIA, Great Eastern, Hong Leong Assurance, Prudential).

For each client, I generate quotations from multiple insurers.

Then, I help my clients filter out plans that are not as good, or as cost-efficient, or as complete.

Hence the ability to find the best plan on the market that suits your specific needs and lifestyle.

The real beauty of this for my clients?

They save so much time and headache from not having to face several agents, hold several meetings, and collect quotations from several sources...

They get the best plan possible for their needs.

And they stay within their budget...

Allll WITHOUT paying a single cent more than if they had gone through the process by themselves with different agents.

An LFP like myself also comes in extra handy if your intention is to find a full-fledged, long-term health insurance for your child.

You know, like I mentioned above.

Reason being, there will be Too. Many. Riders. to consider and compare.

(Imagine comparing ALL the plans by yourself, among different brands, with different combo of riders, all at different price points.)

...having the help of someone knowledgeable and professional can be a great relief. Especially someone who already has a lot of experience dealing with pregnancy insurances.

*Cue your own slow smile while you let out a huge breath?* 😉

Free Insurance Consultation with a Pregnancy Plans Expert

Get your no-obligation FREE expert consultation. Where we'll take you through the best pregnancy plans for YOU on the market now. This is the new and improved way to source an insurance — smart, unbiased and ultra efficient.


Follow these Steps

Complete the questionnaire above

What you submit is info we will need to make your quotations and a personalised report.

Book a time

Make sure you book a time for an appointment for online or in person.

Sit back and relax

That's it! You are now in good hands of a team who will find the perfect plan for you. The rest is a breeze from here.


what my clients say

My experience with Wei Chong was great, he is a professional financial advisor. Very helpful and understanding. He is not hard selling at all, no pressure meeting up with him. I would not hesitate to recommend him to anyone.

Kar Poh

Professional, didnt push sales and he will come out few plan for us to consider. Wei Chong, thank you!

Vicky Liew

Wei Chong is a professional financial adviser that listened to our requirements. He listed down the pros and cons of the insurance plans and guided us to choose the most suitable one.

Sok Yi

Speaking of Too Many Riders, What Other Riders Are Available? Should You Get Them?

Almost every kind of insurance nowadays comes with a looong list of riders that you can pick and choose from to beef up the insurance policy.

Riders make a basic insurance plan stronger, and offer even more, even wider or even better protection.

The same applies to the pregnancy/life insurance we are talking about today.

If you're planning to go the DIY-meet-many-agents route, I want to be helpful to you too.

Below here I have *painstakingly* prepared a list of Riders that you can consider to go together with your baby's Life Insurance + pregnancy insurance rider.

All four insurance brands have been included in it.

Click to enlarge the image.

Some Riders in here can provide your family immense value, so they are worth some serious consideration.

The rest may not necessarily benefit you any further than the protection you are already getting. They would just be fluff that ends up costing you a little more every month.

If you're feeling dizzy after viewing the Riders list, fret not.

An experienced insurance rep should be able to recommend the right Riders for you to consider after listening to your specific needs and concerns.

When you talk to your rep, feel free to ask questions.

Make sure you understand what you're buying.

And, do not be afraid to request adjustments to your quotation to make sure the final costs fit into your budget.

Last but not least, most people do not know this but:

Even after you have bought an insurance, you can always contact your agent to add on additional rider(s) later.

Be it a few months or years from now. 

-- I hope these insurance tips help!

Can One of Those "Lady's Plans" on the Market Substitute Your Baby's Life Insurance + Pregnancy Coverage Rider?

So I've helped you understand that you can get pregnancy insurance coverage together with a Life Insurance for your baby.

Alternatively?

Yes, it's true that you CAN also get some of these maternity benefits from certain Lady's plans on our Malaysian market.

If you have to compare the two:

The main difference between them is their focal point.

One focuses on the mother more; the other focuses on the baby more.

Pregnancy Insurance versus lady's plan

Keep an eye out for a detailed breakdown of "Lady's Plan vs Pregnancy Insurance" in a future article.


Whew, I know this is A LOT to digest!

However, if by now you have understood

  • What a pregnancy insurance is, 
  • How it could potentially benefit you, 
  • And how you may use riders to get more out of the insurance...

But you still wonder how to decide whether YOU should actually get one?

Since every family's needs are different, right?

An Easy Way To Tell if a Pregnancy Insurance Will Benefit You (or Be a Complete Waste of Your Money!)

a Pregnancy insurance can benefit you if

  • You don't currently have huge savings that can withstand massive hospital bills
  • You have a stable, healthy job or business that will continue to give you sufficient disposable income to afford a monthly insurance fee
  • You have enough savings now but they are already reserved for other important priorities in your life! Should anything bad happen, you would rather let the insurance company pay for the costs.

The Goal is to Avoid Scenarios like these

Something bad happens... The safety of your pregnancy or your child is endangered, you (of course) want to get whatever medical treatments, medications or, if need be, even surgeries... whatever is necessary at this point....

  • But by doing so, unfortunately, your cash flow would be completely depleted. (Oh boy.) You feel like you're losing all sense of security as this means you'd be unable to take care of all the other important needs of your loved ones for the coming weeks, e.g. food, petrol, housing loan...
  • You have to use up your savings and delay or cancel your initial plans. e.g. Not getting the dream house you were aiming to purchase this year, causing you and your family to have to delay moving to a bigger space.
  • The best OBGYN/paediatric surgeon in Klang Valley is only available at a private hospital but they are charging upwards of RM30k for the total cost. Not having ready cash for that, you are forced to sacrifice quality and TIMELY medical care and go down a journey filled with long wait times and rotating healthcare providers at a government hospital instead.

Conclusion

That's it for my guide to getting the best pregnancy insurance in Malaysia.

Now I'd like to hear from you:

What information from this article was new to you?

Or maybe you have a specific question about your pregnancy/pregnancy insurance.

Either way, leave a quick comment below to let me know.


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