MSIG Malaysia

When it comes to the personal health and well-being of you and your family members, there is no room for compromise. Unexpected illnesses and accidents can happen to anyone at any time. And when they do, you need to know that you will have immediate access to the best medical attention. MSIG’s Healthcare International Insurance can help put your mind at rest. Helping you deal effectively with all serious health problems, from the need for prompt diagnosis to prearranged care at an approved panel hospital of your choice. In the event of serious medical emergencies, you can be covered for immediate admission to the nearest approved panel hospital and if necessary, air evacuation with full medical crew. Furthermore, the annual premiums you pay will qualify for the RM3,000 medical tax relief subject to the final approval by the Inland Revenue Board.

Just landed a new job and got married, Steve was advised by his parents to consider buying a medical insurance plan for his wife who is a part time nursery teacher. Steve asked around and decided from his best friend’s advice on MSIG’s Healthcare International Insurance plan for his wife (since she is not covered under his employee benefits).
 
“I am the type of person who wants freedom of choice, and MSIG’s Healthcare International Insurance plan gives me the option to choose my preferred choice of hospital(s) from their wide list of panel hospitals. Secondly, we like to travel and see the world, so I was attracted by the fact that it had worldwide coverage, increased limits and a medical evacuation emergency assistance.”

I showed my wife the plan and she immediately spotted another benefit – maternity benefit which is an optional cover. As we are planning for a family, it made sense. It covers up to RM3,000 for normal delivery which is automatically increased to RM5,000 should any complications develop.*

Steve

Peace of mind is attainable with the help of MSIG’s Healthcare International Insurance Plan.

*Terms and conditions apply

MSIG ASSIST* - 24-Hour Worldwide Emergency Medical Assistance And Evacuation Services

  • Emergency Medical Evacuation
  • Emergency Medical Advice and Assistance
  • International Travel Assistance
  • Payment Guarantee to in-hospital treatment at our panel hospitals (call in advance with all relevant information). In addition, you will be given an MSIG Assist Card which contains your policy information for easy admission to any of our panel hospitals in Malaysia.

The number to call: +603 - 7628 3980 (24-hour outline)

*Terms and conditions apply.

1. Do I have to pay GST on my Medical policy?

GST on Medical premium will be charged at 6% from 1 April 2015.

2. Period of Insurance for my Medical Policy is from 1 March 2015 to 29 Feb 2016. Will MSIG charge me GST for the period from 1 April 2015 to 29 Feb 2016? Especially since MSIG has included a notice on GST on my policy.

Yes. GST will be charged from 1 April 2015 to policy expiry date.

3. Do I pay GST if I purchase my Medical Policy from a non-GST registered agent?

GST is chargeable irrespective of the GST status of the Agent.

GST is charged on the Medical Policy and collected by the Insurance Company on behalf of Customs.

4. Life insurance is exempted from GST. Do I pay GST if I purchase my Medical Policy from MSIG?

Medical Insurance is a general insurance product. Hence you will need to pay GST on your Medical premium regardless which insurance company you buy from.

5. What does MSIG do with the GST I’ve paid?

MSIG collects GST on behalf of Customs Department & pays to Customs on monthly basis.

6. What about Stamp Duty?

MSIG collects Stamp Duty on behalf of Inland Revenue Department & pays to Inland Revenue.

7. Is there any GST on the Stamp Duty?

No. Stamp Duty is a government tax and is not subject to GST.

8. I am a Singaporean. Do I have to pay GST on my Medical Policy?

Yes. GST on Medical premium will be charged at 6% from 1 April 2015.

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General Notes:

GST is law and therefore forms part of the terms & conditions of the policy.  Failure to pay GST means MSIG reserves the right to cancel or void the policy

Disclaimer:

The FAQs provided herein is for general information only and not intended to constitute advice on specific matter relating to GST.  Please consult your tax agent on the application of GST to your particular circumstances.

1. If medical expenses incurred inclusive of GST charged, can I claim the GST incurred?

If your medical policy extended to cover GST, then we shall reimburse as per Schedule of Benefits. If your medical policy does not have such extension, then the GST incurred is not coverable under the policy.

2. Is GST amount payable part of the overall annual limit / inner limit?

Any GST amount payable is part of the Overall Annual Limit / inner limit.

3. Is food and bed subject to GST?

Food and bed incurred by patient are Exempt supplies. However, if such expenses are incurred by the family member, then such expenses will be subject to GST.

4. Traditional and complementary medicine services such as acupuncture is a form of healthcare service. It is treated as an exempt supply?

  • No. Traditional and complementary medicines (TCM) are subject to GST at standard rate.
  • Please note that normal medical insurance exclude alternative/traditional treatment.

5. Is medical report subject to GST?

Medical report provided by the healthcare professionals under the employment of the registered or licensed private healthcare is not subject to GST as it is an Exempt supply.

General Notes:

GST is law and therefore forms part of the terms & conditions of the policy.  Failure to pay GST means MSIG reserves the right to cancel or void the policy.

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Disclaimer:

The FAQs provided herein is for general information only and not intended to constitute advice on specific matter relating to GST.  Please consult your tax agent on the application of GST to your particular circumstances.”

MSIG assist

Our dedicated Customer Service Officers and staff will be happy to assist with your queries.