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Insurance

Many Malaysians are worried about how high inflation might affect their lives and wellbeing. Little do they know another form of inflation has been affecting their financial lives behind the scenes for years on end. In general, medical inflation has stayed at 4-5x above the average inflation in Malaysia. Malaysia’s medical inflation was projected at 12% in 2022.  Even as our savings earn interest and our wages grow over time, high medical inflation may leave us unequipped to deal with medical bills. Having medical insurance can help cover your medical bills, but could be inadequate
We take steps to live a healthy lifestyle and minimise our risk of serious illnesses, but none of us can completely prevent them. According to the Department of Statistics Malaysia, terminal and critical illnesses exceed 40% of all deaths in Malaysia in 2020, highlighting their ever-present threat across the country. In insurance, the terms critical illness and terminal illness are often used. But what are they, and why are they so important to be aware of not only when it comes to our health and wellbeing, but also in terms of insurance? We will also explore why it’s important to get insured
Almost all of us have taken on debt. Taking debt can help build wealth or increase income over time. Examples of good debt include mortgages, student loans, and small business loans. But debt that becomes challenging to pay off poses a long-term challenge to your finances. According to economists, as of the first half of 2021, Malaysia’s household debts are still at a worrying trend. Here are ways to pay off debt fast without forfeiting your other important financial benchmarks such as a healthy emergency fund or retirement savings.  ​ Source: Tenor Pay off the smallest debts first
Spending is not only a necessity to survive. It can be gratifying to spend on our wants like the latest gadget, nice furniture, or even the car we’ve been eyeing for months. But this gratification can easily turn into unnecessary spending if we are not careful, or even snowball into an empty wallet. Here are 5 practical tips to curb unnecessary spending. ​ Source: Giphy Understanding your triggers A spending trigger is something that tempts you to spend money. For example, a situation, emotion, place, or person. It can come in many forms and be obvious or subtle. If you don’t know you
According to a 2021 report, Malaysia leads Southeast Asia with the highest percentage of digital consumers with 88% of the country’s population of 15 year olds and above being digital consumers. Nevertheless, online insurance is a relatively new concept to Malaysians. It involves dealing directly with the insurance provider to buy an insurance plan without an intermediary. Since insurance is an important part of financial protection, here are some reasons why you should get online insurance and how it may benefit you. ​ Convenient Online insurance is quick and hassle-free. As the insurance