our Network Partner in Malaysia

Great Eastern Life Assurance (Malaysia)Berhad

Great Eastern Life established in 1908, is one of the oldest and largest life insurance companies in Malaysia. In 1999 Great Eastern Life celebrated its 90th year of incorporation. For 90 years, we have been in the business of providing financial security and peace of mind.

Currently, we provide financial security for over 1.8 million people in the region. Our policy holders have chosen Great Eastern Life because we offer quality financial plans and services for financial protection, savings and investments.

Our corporate vision is to be the choice life insurer in ASEAN and beyond, committed to providing financial security for our customers, recognised for excellence in service and respected for our integrity, initiative and involvement in the way we pursue our business.

Great Eastern Lifes main distribution channel is through its 20,000 b agency force. They are GE Lifes key partners in delivering best service to policyholders. Alternative distribution channels are direct marketing, brokers and bancassurance. Great Eastern Life offers a full range of life insurance products as individual policies or group policies. Our product provides savings, protection in the area of death and disability as well as medical and health.

typical benefit plan

MALAYSIA – TYPICAL EMPLOYEE BENEFIT PLAN 2006

Benefits provided are:

TYPE	DESCRIPTION	TYPICAL COST *
Term Life	Covers death and Total & Permanent Disablement Amount insured :36 months’ salary	1.5 – 2.50 per 1,000 sum insured
Accident	Covers death and permanent disablement Amount insured :36 months’ salary	0.60 per 1,000 sum insured
Outpatient medical	Covers treatment for GP visits and specialist consultations. Most employers will impose an annual cost limit, separately for GPs and specialists. Typical benefit limit MYR 500 pa for GP visits; MYR 1,000 for specialist consultation. Some MNCs include dependants.	Per person cost is around MYR 300 – 500 per year. Cost varies according to location as well as benefit level and population profile.
Hospitalisation & Surgical	Covers treatment in private hospital. Typically three levels of benefit based on private room; semi-private room; and four-bedded ward. Manufacturing operations may limit production operators to government hospitals Many MNCs also cover dependants	Actual cost depends on group size; population profile; benefits scope; location; cost-containment measures.

* This premium cost is for groups of about 50 employees.

Foreign workers’ cover

Foreign production workers are required by the Immigration Department to be insured under a Foreign Workers’ Insurance Policy. This policy covers only accident risks, and is only available from non-life insurers.

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