Always allocate 10% of your salary to insurance/saving/investments. get a basic plan with life/Critical illness/medical card. is doable with rm 300++
*PS, I am insurance agent. But i am not licensed for takaful.

This post has been edited by JK-Rai: Oct 3 2018, 11:21 AM

Conventional insurance assigns a fund manager to invest in shares and bond.
In short, this is considered gambling(al-maisir) and profit on interest(riba) which is illegal in shariah law.

Also, they can use this money to be invested in all kind of company including Genting/Heineken and so on. From here I think you what it means.

While Takaful, make sure of the fund in a way that it is shariah compliant and they profit by using the concept of pooling and profit sharing.

In a sense where person A put in 10k into the pool and person B also put in 10k. If person B needs 12k there are allowed to take 2k from person A temporary. So it is syariah compliant because person A is helping person B.

All in all, this is all overly simplistic. Please find a takaful agent for more details.
Also from what I know takaful insurance a slightly more expensive depending on what you get.