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You need a critical illness plan because of the high prevalence of critical illnesses in Malaysia and the high costs associated with it. The prevalence is shown in the statistics. According to the Department of Statistics Malaysia in 2019, the leading cause of death in Malaysia was ishaemic heart disease, a critical illness making up 15.6% of deaths in Malaysia. There was also an 11% increase in new cancer cases and nearly 30% more deaths from cancer reported from 2012-2016 compared to 2007-2011 in Malaysia. Cancer incidence in Malaysia is expected to double by 2040. It can happen to anyone,
According to Life Insurance Association of Malaysia (LIAM), over half of Malaysians are still without life insurance coverage. Some of the most common perceptions stopping Malaysians from getting insured are that the insurance process is very tedious and difficult to understand. In other words, many of the reasons are down to convenience. Although that may be true in certain instances, it really depends on the insurance provider. For example, Gibraltar BSN’s highly trained agents, intelligent chatbot GINA, and Whatsapp e-Policy delivery system make the process of getting insured convenient.
There are pros and cons when it comes to both indoor and outdoor exercises. With pandemic concerns generally having subsided, it’s a good time to go out and exercise outdoors. Malaysian weather is generally suitable for outdoor exercise with only hot temperatures at certain hours and rain to contend with. Studies have shown outdoor exercises show greater improvement in mental wellbeing compared to indoor exercises. The sunshine also helps where not only does it have a positive effect on mood, but you can also get the benefits of vitamin D! Looking for outdoor exercises that focus on burning
Insurance is not just for the young. Although with fewer dependents and less financial commitments, the risk of health complications increases as we enter our golden years. Premiums are higher than if getting insured when young, but it could pay itself in the long-run. Here’s what to look for in medical insurance for senior citizens (aged 55 years and above).
Higher sum assured
Medical costs for the treatment of seniors are higher due to the complexities. There has also been consistently high medical inflation in Malaysia. In general, medical inflation has stayed at 4-5x
Critical illness cover is becoming increasingly important as high medical inflation has persisted consistently for many years in Malaysia. Critical illnesses are serious illnesses such as cancer, stroke or heart disease. The high treatment cost for critical illnesses and its negative effect on ability to work makes it important for Malaysians to consider critical illness cover.
For example, the average cost for a single continuous hospital stay for cancer across public and private hospitals in Malaysia was RM7,087 in 2017. There was an 11% increase in new cancer cases and nearly 30% more