Getting travel insurance is important for peace of mind and essential support in an emergency or in case you fall sick while away from home. AIG Travel Insurance Malaysia1 has several different options depending on where you’re going, who needs to be covered, and what your budget is.
This AIG travel insurance review covers what you’ll need to consider. Plus we’ll touch on Wise for seamless international spending and withdrawals at the mid-market rate, which could also save you money2 while you travel.
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AIG offers a broad range of insurance products for health, medical, car, home, life and so on - as well as AIG travel insurance. It’s a global group, which operates as AIG Malaysia Insurance Berhad here in Malaysia.
This guide focuses on the AIG travel services you can access. There are several different policy options, which all come with some variations in cover and price. We’ll walk through the plans available and focus in on some of the more comprehensive international options to help you pick the right AIG travel insurance policy for your specific needs.
As with all travel insurance, AIG imposes eligibility rules which dictate who can access its policies. Full details are in the product disclosure sheets for each policy - as a broad outline:
- You must be a Malaysian citizen, or Permanent Resident, or you must be legally in Malaysia with an Employment Pass or similar
- Individual cover is available on an annual basis for people from 18 to 70
- Individual cover is available on a single trip basis for people from from 30 days old to 85 years - from age 61 to 85 you’ll need to choose a specific senior cover plan
You can choose from 5 different AIG travel insurance policies3:
- Domestic
- Starter
- Basic
- Standard
- Deluxe
Domestic packages are for within Malaysia only, while the Starter pack is highlighted as a good option for budget travellers within Asia. The three core products - Basic, Standard and Deluxe are discussed in more detail below, to give a picture of the levels of cover available.
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AIG travel insurance is available across different tiers: Domestic, Starter, Basic, Standard, and Deluxe. The cover included in the Domestic and Starter packages is far more limited than the other 3 core policies. To give a flavour of your options, we’ve covered some key items on the core policies below - you can also get the full AIG product brochure4 online if you’re looking for domestic insurance or need to compare all the packages available to pick the best for you.
Here we’ve split out some of the most important types of cover available on the 3 main AIG travel insurance plans - not all covered items are included in this list, and all maximum pay out levels may come with additional rules or restrictions. For that reason you’ll need to review the policy documents carefully before you sign up to any insurance package so you know exactly what you’re getting.
First, some highlights of the maximum pay out levels of the medical and emergency cover offered by AIG:
| Basic (international) | Standard (international) | Deluxe (international) | |
|---|---|---|---|
| Personal accident - death or disablement | 250,000 MYR | 350,000 MYR | 400,000 MYR |
| Medical expenses | 250,000 MYR | 500,000 MYR | 1 million MYR |
| Emergency evacuation or repatriation of remains in the event of death | 10 million MYR | 10 million MYR | 20 million MYR |
Aside from medical and emergency issues, travel insurance covers losses and inconveniences. Payout levels vary between policies - and additional rules may also apply. Here are some headlines.
| Basic (international) | Standard (international) | Deluxe (international) | |
|---|---|---|---|
| Lost luggage (individual item limits may also apply) | To a maximum claim of 3,000 MYR | To a maximum claim of 5,000 MYR | To a maximum claim of 8,000 MYR |
| Luggage delay (maximum claims per family also apply) | To a maximum claim of 750 MYR | To a maximum claim of 900 MYR | To a maximum claim of 1,350 MYR |
| Loss of personal money | To a maximum claim of 1,000 MYR | To a maximum claim of 1,000 MYR | To a maximum claim of 3,000 MYR |
| Travel cancellation or curtailment | To a maximum claim of 7,000 MYR | To a maximum claim of 10,000 MYR | To a maximum claim of 15,000 MYR |
| Personal liability | 500,000 MYR | 1 million MYR | 1 million MYR |
| Travel - missed connections | Not covered | 400 MYR | 600 MYR |
The price you pay for travel insurance can vary a lot based on the package you prefer, your destination and who is being covered. The costs vary also according to the travel package you pick.
To give an idea, for the 3 key international packages we’ve looked at above, for an adult under the age of 60, you’d usually get quotes in this range, depending on the package and where you’re headed:
- Trip of 1 - 5 days: 39 MYR - 364 MYR
- Trip of 6 - 10 days: 52 MYR - 525 MYR
- Trip of 11 - 20 days: 83 MYR - 865 MYR
- Trip of 21 - 31 days: 151 MYR - 1,577 MYR
In addition to picking the plan level you’d prefer you can also add on riders at an extra premium covering golf and adventurous sports.
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You can submit an AIG travel insurance claim online to MYClaims@aig.com. You’ll first need to complete the claim form and also submit a set of supporting documents, as well as your bank details. The documents you need vary a lot according to the type of claim but could include a medical report and supporting invoices for a medical claim, or a police report if you have items stolen. Or, as another example, if you need to make an AIG travel insurance flight delay claim you’d need an official document from the airline as well as your tickets.
It’s a smart plan to contact AIG immediately if something happens on your trip which makes you think you’ll need to submit a claim later. That can help you get all the relevant documents ready while you’re still in your destination, so making a claim on your return is easier.
Once your claim has been assessed, if it is approved, AIG pay to your nominated bank account and notify you of the payment.
If you have an emergency you can get 24 hour help on the following number5:
+603 27725600
If your issue is not urgent, you can choose these options instead:
For general enquiries in Malaysia: 1800 88 8811
For general enquiries when abroad: +603 2118 0188
You can also send a fax on +603 2118 0288, or email on AIGMYCare@aig.com
Travel insurance is a smart thing to have when you’re away from home. So is Wise.
With Wise and the Wise card you can add money to your digital account in ringgit and spend around the world with the mid-market rate rate and enjoy low, transparent fees. Tap to pay with your card or a mobile wallet like Apple Pay, and use your card in ATMs to get cash when you need it, with up to two free overseas ATM withdrawals each month.
Wise accounts hold 40+ currencies and you can spend and make cash withdrawals with your card in 150+ countries, offering impressive coverage no matter where you’re heading.
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*Please see terms of use and product availability for your region or visit Wise fees and pricing for the most up to date pricing and fee information.
This publication is provided for general information purposes and does not constitute legal, tax or other professional advice from Wise Payments Limited or its subsidiaries and its affiliates, and it is not intended as a substitute for obtaining advice from a financial advisor or any other professional.
We make no representations, warranties or guarantees, whether expressed or implied, that the content in the publication is accurate, complete or up to date.
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