Are you looking for Life Insurance? Check out our independent Top 5 list of the Best Life Insurance in Malaysia.

iBanding.com is an education webpage that provides independent information about insurance. We research and collect reviews and ratings from actual Malaysian customers to help you find the Best insurance and takaful for you.

In 2019, Malaysia has over 14 Life Insurance and 11 Family Takaful companies that sell Life Insurance, and it is not easy to find which one is the best. Every year iBanding conducts an independent online survey with over 10,000 Malaysians to find the best companies that provide life insurance. iBanding.com’s study gives each company a rating from one to ve stars. This rating is similar to the quality level at hotels. A 5-star hotel provides better service than a 3-star hotel. A 5-star insurance company has proven to provide better service to its customer than a 1-star company.
In our 2019 survey, we have evaluated a total of 13 companies. The good news is that all evaluated companies have received a higher rating. But which Life Insurance Company is the Best?

Here is the complete 2019 list of the Top 5 Life Insurance Companies in Malaysia of 2019 that provide the best service to their customers.

Top 5 Life Insurance Companies in 2019 for Malaysia (reverse order)

5. Great Eastern Life Insurance

4-stars

We start our Top 5 list with Great Eastern Life Assurance Malaysia Berhad that is the largest Life Insurance company in Malaysia. According to a 2017 report by the Insurance Services Malaysia (ISM), over 1.2 million Malaysians had life insurance with Great Eastern. That means 4 out of 10 people have bought whole life insurance from Great Eastern. No wonder the company is in our Top 5 List of Life Insurance companies in Malaysia. Great Eastern Life offers the following insurance products:

  • Great 110 Legacy
  • Great Cherish 80
  • Great Early VantageCare 2
  • Great MaxiProtector
  • Great Term Direct
  • Great VantageCare 2
  • Smart Legacy
  • Smart Legacy Max
  • SmartProtect Essential
  • SmartProtect Junior
  • Smart Protect Max

2019 Key Facts 

  • iBanding Category: 4-stars
  • 2017 Market Share: 41%
  • Number of Life Products: 11

4. Allianz Life Insurance

4-stars

On the 4th place of our list is Allianz Life Insurance Malaysia.  Compared to Great Eastern Life, the company is small, with a market share of 3% in 2017. The German company is exceptionally reliable in car insurance and benefits from the excellent service and good quality of “Made in Germany” quality. Allianz Life Insurance Malaysia offers the following products:

  • Allianz Powerlink
  • Allianz 3H Cover
  • Allianz PremierLink
  • Allianz PremierLink Advance
  • Allianz PrimeLegacy
  • Allianz i-EssentialCover
  • Power Shield
  • Allianz Ability Life
  • Allianz Kasih Hayat

2019 Key Facts 

  • iBanding Category: 4-stars
  • 2017 Market Share: 3%
  • Number of Life Products: 9

3. Prudential Assurance

4-stars

At place 3 on our list of the Top 5 Life Insurance company is Prudential Assurance Malaysia. The company is relatively small with only 2% of the Malaysian market. This means that out of 100 people only 2 people have full sometimes also called “whole” life insurance from Prudential. Prudential  offers the following life insurance products in Malaysia:

  • PRU Wealth Plus
  • PRU Best Gift
  • PRU Protect Xtra
  • PRU My Diabetes Care
  • PRU My Medical Plus
  • PRU My Child Plus
  • PRU Vantage
  • PRU Guard My Family
  • PRU Term
  • PRU Mortgage

2019 Key Facts 

  • iBanding Category: 4-stars
  • 2017 Market Share: 2%
  • Number of Life Products: 10

2. Hong Leong Assurance

4-stars

Hong Leong Assurance is on 2nd place in our 2019 Best Life Insurance list. Many are familiar with the brand, because of Hong Leong bank. In 2017, every ISM reported that Hong Leong Assurance has a market share of 5% on full (whole) life insurance in Malaysia. In Malaysia, the company offers ten insurance products to protect your loved ones from financial loss in case of a death. Here is the complete list.

  • HLA Asset Protector Flex
  • HLA Asset Protector Premier
  • HLA Complete Link
  • HLA Premier Millions
  • HLA Prime Protect
  • HLA Prime Protect Gold
  • Level Term
  • Mortgage Decreasing Term Assurance
  • PA Care
  • Secure100

2019 Key Facts 

  • iBanding Category: 4-stars
  • 2017 Market Share: 5%
  • Number of Life Products: 10

1. Sun Life Malaysian Assurance

5-stars

Winner and Number 1 on our Top 5 list of Malaysian Life Assurance companies is Sun Life Assurance. This result has surprised us, because the company is still small in Malaysia, with a market share of 1% in Malaysia, according to Insurance Services Malaysia (ISM).  But the customer survey of over 10,000 Malaysians and the independent model to rank the customer service quality tell us that Sun Life Assurance is the Best Life Insurance company in 2019.

One of the key advantages is that Sun Life has adopted technology fully and is offering their life insurance products online. Together with online straightforward claims submission, excellent customer service makes it the winner. Now you can go online and buy life insurance online. The three products that Sun Life Assurance offers online are:

  • Sun eSential Life
  • Sun eCritical Shield
  • Sun eMediCare Income

2019 Key Facts 

  • iBanding Category: 5-stars
  • 2017 Market Share: 1%
  • Number of Life Products: 3

Malaysia’s Top 5 Life Insurance Companies of 2019

  1. Sun Life Malaysia Assurance
  2. Hong Leong Assurance
  3. Prudential Assurance
  4. Allianz Life Insurance
  5. Great Eastern Life Insurance

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