Kuala Lampur, Jan. 31 -- JANUARY 31 - Bank Negara Malaysia's (BNM) proposed Base Medical and Health Insurance/Takaful (MHIT) Plan has been compared by certain quarters with existing medical insurance products in the market, through neat tables listing premiums, deductibles, and annual coverage limits.

At first glance, these point-in-time comparisons appear straightforward and compelling.

Some market plans seem cheaper, others offer much higher annual limits, and many appear to provide "better value" than the government-designed Base MHIT.

But these snapshot comparisons miss a crucial point: health insurance value cannot be properly assessed at a single moment in time.

Health insurance is not a one-off purchase. It is a long-term contr...