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
Insurance is essential because it financially protects you or your loved ones against unexpected events such as hospitalization, critical illness, or even the unthinkable. When it comes to something so important, it’s advisable to avoid insurance mistakes for better financial planning and proper coverage. To avoid confusion, here’s a guide to avoid those mistakes. Source: Giphy Delaying getting insurance You may feel young, and that your insurance risk is very low. But so long as you are uninsured, uncertainty looms over your financial planning and financial worries can remain.
Insurance has become a necessity to shield us financially from unforeseen loss or damage. As this is a long-term investment for financial security, you will want to make sure you get the most out of your protection plan. But with so many types of policies in the market for different purposes, how do you ensure that you’re able to maximise the value you get out of your coverage? It is going to take a little time and research, but the following tips can help: Source: makeameme.org 1. Choose the right plan with the right coverage In general, a life insurance plan