We review for you the best takaful travel insurance in Malaysia so that you can find the right one for you. For many Malaysians, travel insurance or takaful travel is not something that you would think of when planning your vacation to another country. Flight and hotel will cost already a lot and then to buy travel insurance on top of it, can be a lot. But compared to the benefits you get, travel insurance is a bargain. Travel insurance is a nice cushion when things go wrong during your travel. We have shared the top 5 travel insurance in 2019.

What is the difference between travel insurance vs takaful travel

The main difference between travel insurance and takaful travel is the same as for conventional insurance and takaful. Takaful is Shari’ah compliant because it follows Islamic principles. It is specially built to allow Muslims to buy protection that is compliant to Islamic beliefs. There are three principles that insurance need to follow to be considered takaful of which interest or riba is the most important. Under normal insurance, any profit the insurance company makes goes back to the owners of the company. The owners of the company are, in most cases, the shareholders, who own shares or stock of the company. Under takaful, any profit the takaful company makes goes back to the policyholders who are the people that buy the takaful protection. Because the profit goes back to the people who buy takaful, many takaful companies give cashback or renewal discount. We have seen takaful companies give cashback on car takaful, but we have not seen companies give back cashback on travel takaful. It could be that the companies are very low with their prices so that there is no profit to share.

To provide you with a little bit of price comparison, we look at different trips. Insurance and takaful companies will take information like the country you are travelling to and the duration of the trip. Travel insurance and also Takaful Travel is more expensive when you travel to countries like Europe, or the US are more expensive, because of the higher medical cost. The duration of the trip is also price relevant because the longer the trip, the higher the change that something can go wrong. We have looked at three different trips to give you an idea about prices.

  1. Single person going on a trip to Tokyo, Japan for 5 days
  2. Couple (2 people) going on a 10 days trip to Sydney, Australia
  3. Family (2 adults and 2 children) going on a 10 days trip to Bangkok, Thailand

Best Travel Takaful Insurance Reviews (reverse order)

Takaful Ikhlas

3. Takaful Ikhlas – Review Best Travel Takaful Insurance

Takaful Ikhlas General Berhad provides their travel takaful with 25% discount, when you buy online. The protection is called Ikhlas Kembara Plus – Inbound & Outbound. You an read more detailed benefits on their webpage. The key protection they provide are

  • Personal Accident Benefit
  • Trip cancellation, trip curtailment, baggage & personall effects lost or stolen
  • Emergency Medical Evacuation
  • Personal Liability

Takaful Ikhlas only offers one product variation.

Price Samples

1. Single person going on a trip to Tokyo, Japan for 5 days

  • Medical Expenses RM 30k = RM 36.25

2. Couple (2 people) going on a 10 days trip to Sydney, Australia

  • Medical Expenses RM 30k = RM 115.00

3. Family (2 adults and 2 children) going on a 10 days trip to Bangkok, Thailand

  • Medical Expenses RM 30k = RM 103.75

2. Syarikat Takaful Malaysia – Review Best Travel Takaful

Syarikat Takaful Malaysia is among the best takaful companies in Malaysia. The webpage and their product are top.  In 2016/2017 and 2017/2018, Takaful Malaysia placed 1st in the Takaful category. The company provides 3 different packages Bronze, Silver and Gold, so that you can choose how much protection you need. The protection is much higher and more extensive than IKHLAS Kembara Plus Takaful – Inbound & Outbound. You can view the detailed protection coverage on this page.

Price Samples

1. Single person going on a trip to Tokyo, Japan for 5 days

  • Bronze – Medical Expenses RM 100k = RM 28
  • Silver – Medical Expenses RM 200k = RM 33
  • Gold – Medical Expenses RM 300k = RM 36

2. Couple (2 people) going on a 10 days trip to Sydney, Australia

  • Bronze – Medical Expenses RM 100k = RM 54
  • Silver – Medical Expenses RM 200k = RM 70
  • Gold – Medical Expenses RM 300k = RM 80

3. Family (2 adults and 2 children) going on a 10 days trip to Bangkok, Thailand

  • Bronze – Medical Expenses RM 100k = RM 65
  • Silver – Medical Expenses RM 200k = RM 85
  • Gold – Medical Expenses RM 300k = RM 98

1. Etiqa Takaful – Review Best Travel Takaful Company

In our review of the best travel takaful / insurance companies, Etiqa Takaful is one of the best travel protections for Malaysians. The Travel Takaful is called TripCare 360 Takaful and offers the following key benefits:

  • 25% online discount, when purchasing online
  • Cashless Oversears Hospital visit
  • No claims discount on annual contracts

It appears that the prices from Etiqa Takaful are higher than Takafu Malaysia, but one needs to carefully compare one by one the benefits to understand the difference. One key difference is that Etiqa Takaful provides higher medical expense protection for you with the Platinum Plan than Takaful Malaysia. Takaful Malaysia’s highest medical expense protection is RM 300k, whereas Etiqa Takaful provides protection up until RM 500k. You can read our Guide to Travel Insurance to learn what we believe are the most important coverage for travellers. Besides offering protection for travel inconveniences like flight delay or baggage loss, Etiqa is one of the few companies that offer cashless medical care abroad. Cashless medical care means that if you have to go to the hospital in another country, you do not need to pay cash upfront. You can call the 24/7 hotline +603-2161-0270 and request a Guarantee Letter for the nearest hospital. The hospital will then treat you without any payment by you. The payment is settled directly between the hospital and Etiqa Takaful.

Etiqa Takaful has also been in the news in providing outstanding service to their customers and sometimes even exceptions. On August 23rd, 2019 Etiqa Insurance and takaful approved that all delays from the KLIA airport disruption should be compensated. Normally, travel insurance only pays for delay by the airline. Etiqa made an exception here and treated the airport delay as a flight delay. Anyone who had purchased an Etiqa Tripcare 360 Takaful will receive extra money for the delay. You can read more about it in the Star Online “Making an exception, Etiqa to pay KLIA flight delays” or the Edge Malaysia “Etiqa to pay flight delay claims for travellers affected by KLIA IT glitch”

Source: The Star Online

Source: The Edge Market

Price Samples

1. Single person going on a trip to Tokyo, Japan for 5 days

  • Silver – Medical Expenses RM 100k = RM 26.05
  • Gold – Medical Expenses RM 300k = RM 36.17
  • Platinum – Medical Expenses RM 500k = RM 44.61

2. Couple (2 people) going on a 10 days trip to Sydney, Australia

  • Silver – Medical Expenses RM 100k = RM 83.28
  • Gold – Medical Expenses RM 300k = RM 123.20
  • Platinum – Medical Expenses RM 500k = RM 156.5

3. Family (2 adults and 2 children) going on a 10 days trip to Bangkok, Thailand

  • Silver – Medical Expenses RM 300k = RM 66.47
  • Gold – Medical Expenses RM 900k = RM 103.82
  • Platinum – Medical Expenses RM 1.500k = RM 134.98

2019 Top Travel Takaful Companies in Malaysia

  1. Tripcare 360 Takaful – Etiqa General Takaful
  2. Takaful myClick Travel PA – Syarikat Takaful Malaysia
  3. Takaful Ikhlas – Ikhlas Kembara Plus – Inbound & Outbound

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