The Importance of Insurance Guarantee for Foreign Worker Malaysia

26 Feb

The Importance of Insurance Guarantee for Foreign Worker Malaysia

Insurance is protecting life as most of the insurance agency mentioned in the advertisement. Insurance is generally important in life. Most of the company signed up insurance plan to prevent any sudden loss when an accident happens. Every organization is necessary to sign up employee insurance to protect the human workforce. Therefore, insurance is an essential component of life.

 

1.      Group or Personal Accident Insurance

Accident insurance is commonly discussed among people. This is due to people are facing various stages of unexpected incidents in life. Those incidents might be tragedy and sorrow, some even caused a heavy burden to families and siblings.

Therefore, people commonly prefer a group or personal accident insurance. This is because a group or personal accident insurance is a necessity. However, most of the citizen, especially in the Asia region, have less awareness about its importance. This is partly due to the culture of personnel adopted from the respective family.

In contrast, western people have a higher awareness of an unpredictable future. Thus, a westerner is more prone to insurance than Asian.

group personal accident insurance

 

2.    Reliable Company has Workers Compensation Insurance

Company has many assets. The human workforce is one of the main assets of a company. The worker’s compensation insurance is needed to protect the company most important asset – the employees. This is also a benefit that attracts the employees during recruitment.

Generally, it is an employment act required by the government. Besides, there is foreign worker insurance available in this demanding market. Many locals like to enjoy the overseas experience. The locals who are transferred to overseas indeed needs insurance guarantee for foreign worker Malaysia.

Foreign worker insurance is more expensive than common local compensation. This might be due to the risks for a foreign employee is higher.

When peeking into the workers’ compensation plan deeper, the group hospital and surgical insurance coverages are the most important part. This is because it may save your life when you are working. This insurance covers the employee’s medical benefits. Learn more about the benefits here!

workers compensation insurance

 

3.      Property Insurance such as Theft Insurance is Rising Importance

Property insurance is getting its importance nowadays especially when you are planning to buy a new property. Property is an investment that you might not want to lose this many people will buy burglary insurance.

Nobody will expect a burglary to home sweet home. Burglary can occur to your property when you are travelling overseas, not to stay in a house for a very long period. Although there is quote mentioned that prevention is better than cure, but intention from other party is difficult to prevent.

Therefore, theft insurance is getting more critical in the current market. There are various theft insurance packages such as travelling theft insurance.

Besides, property insurance covers accidents too. The accidents happen must be unintentional to claim insurance compensation. There are thousands of fire insurance Malaysia has been claimed over the past five years.

theft insurance

4.      Vehicle Insurance is Never Decreased in Demand

How many cases of the accident happened every year? The amount is terrifying! The available vehicle insurance is not only protecting yourself but also the third party. The third-party vehicle insurance Malaysia is necessary and compulsory for people nowadays.

This is due to accidents happen commonly involve two parties. Therefore, third party insurance is essential to protect other people’s lives. Check out our website for more info!

 

5.      If Protection Sounds Too Boring for You……

Investment, bonding, shares and stocks can be done through any insurance agent. They are the expertise other than the bank agent. You can even view the performance bond in Malaysia via the insurance agent platforms.

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