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Life Insurance Malaysia (2026)

Life insurance in Malaysia pays your family a lump sum if you die or become totally and permanently disabled. Term life is the cheapest way to get a large sum: a healthy 30-year-old can get RM500,000 of cover to age 80 for around RM5,215 a year with some insurers. Whole life and investment-linked plans cost more because they also build cash value.

Life insurance calculators and guides

Term Life Insurance Calculator →

Monthly premium by age and sum assured

Life Insurance Coverage Calculator →

How much cover your family needs

Critical Illness Calculator →

Lump sum cover for cancer, heart attack, stroke

Personal Accident Calculator →

Cover for accidental death and injury

Best Medical Card in Malaysia →

Standalone medical cards compared at age 30

Takaful Insurance Malaysia →

Shariah-compliant family takaful

AIA Insurance Malaysia →

AIA life and medical plans

Prudential Malaysia →

Prudential life and medical plans

Term vs whole life insurance in Malaysia

All three pay a lump sum if you die or become totally and permanently disabled. They differ in how long they last and what your premium pays for.

Type	How long it covers you	Premium	Cash value
Term life	A fixed period, often 5 to 30 years or to age 80	Level, or rises with age on yearly renewable plans	None
Whole life	Your whole life, often to age 80 to 100	Higher; part of it builds cash value	Yes
Investment-linked (ILP)	Long term, as long as the fund can pay the charges	Split between insurance charges and investment units	Fund value, not guaranteed

Pick term life if you need a large sum for a set period, such as while your children are young or your home loan is running. Pick whole life or an ILP if you want cover that lasts your whole life and accept paying more for it.

Term life insurance plans in Malaysia compared

Premiums depend on your age, health and sum assured, so get a quote from two or three of these before you choose.

Plan	Entry age	Minimum cover	Worth knowing
Great Eastern GREAT Term Direct	18 – 60	RM100,000	Bought online without an agent; premium rises with age
FWD i-Care	18 – 60	RM100,000	Renews yearly to age 80; premium rises with age
Zurich TermLife	16 – 65	RM25,000	Level premium; can convert to whole life before 60
AIA A-Life ProtectTerm	16 – 60	RM25,000	Level, 5-year or yearly renewable term
Etiqa Ezy-Life Secure	17 – 60	RM50,000	Level premium for the whole term
Prudential PRUterm	16 – 65	RM10,000	—
Manulife ManuProtect	17 – 60	RM50,000	—
Allianz i-EssentialCover	18 – 55	RM200,000	—

Life & Medical Insurance · Underwritten by FWD · 4.8 from 323,000+ reviews

Life and Medical Cover from RM9.60 a Month

Basic cover with no agent, no medical check-up, and a policy issued in about two minutes.

Cover options

Plan	Premiums start from	Plan maximum cover
i-Med — Medical Card 18–45	RM1.38/day ≈RM41/mo	RM60,000 annual limit · Unlimited lifetime limit · RM150/day hospital
i-Care — Life Insurance 18–60	RM0.32/day ≈RM10/mo	RM500,000 death · RM500,000 TPD · RM250,000 additional accidental death
i-Protect — Critical Illness 18–60	RM0.25/day ≈RM8/mo	RM100,000 cover · Cancer, stroke, heart attack

The starting price and the maximum cover in this table are two separate things — the lowest premium does not buy the highest cover.

A real illustration from the Product Disclosure Sheet

A 30-year-old male on i-Care Plan C pays RM741.00 a year for RM500,000 death cover, RM500,000 TPD and RM250,000 additional accidental death.

Know before you buy

Premiums are yearly renewable and NOT guaranteed — they increase with your age at renewal.
Cover runs to age 81, subject to paying the renewal premium.
Benefits are protected by PIDM up to limits.
Exclusions apply (for example suicide within the first year, hazardous pursuits). The list is non-exhaustive — read the policy.

What you get

No medical check-up to apply
Policy issued in about 2 minutes, no agent calls
Pay monthly or yearly

Check the Price for Your Age

Starting prices, which vary by age and gender. Monthly figures are the daily rate times 30. Check your actual quote and policy terms before buying. Not insurance advice. · November 2026

Life insurance tax relief in Malaysia

Up to RM3,000 a year for life insurance premiums and voluntary EPF contributions, inside a combined RM7,000 cap with compulsory EPF.
Your children count from Budget 2026, as well as you and your spouse.
Critical illness cover bundled in a life policy can go 100% under this relief, or 60% under the separate RM4,000 education and medical insurance relief.
Not claimable: accidental death and premium waiver riders.
Takaful contributions are treated the same as insurance premiums.

Frequently Asked Questions

How much life insurance do I need in Malaysia?

Start with what your family spends each year and multiply it by the years they would need support. A household with RM2,000 of monthly commitments that wants 10 years of cover needs about RM240,000 (RM24,000 × 10). Then add debts such as a home loan and your children's education costs. Our life insurance coverage calculator does this for you.

How much is life insurance in Malaysia?

It depends on your age, health, the sum assured and the type of plan. RinggitPlus gives the example of a healthy 30-year-old non-smoker getting RM500,000 of death and TPD cover to age 80 for around RM5,215 a year with some insurers. Yearly renewable term plans start lower and rise every year. Whole life costs more for the same sum assured.

Is whole life insurance expensive?

Compared with term life, yes. A whole life policy covers you for life, so the insurer is almost certain to pay out one day, and part of each premium builds cash value. Term life only covers a fixed period, which is why the same sum assured costs much less.

Can I claim life insurance premiums for tax relief?

Yes. Life insurance premiums and voluntary EPF contributions share a relief of up to RM3,000 a year, inside a combined RM7,000 cap with compulsory EPF. From Budget 2026, premiums for your children count as well as those for you and your spouse. Takaful contributions are treated the same way. Accidental and waiver riders do not qualify.

Is my life insurance protected if the insurer fails?

Yes, up to limits. Life insurance benefits in Malaysia are protected by PIDM under its Takaful and Insurance Benefits Protection System, up to RM500,000 or 100% depending on the benefit, counted separately for each insurer.

Sources

Last checked 13 November 2026. This page is general information, not insurance advice.

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