When you were in your twenties and had just secured your first job, you would have been introduced to the concept of insurance. Your employer would have informed you that you were covered for accidents and mishaps while on the job, and perhaps you were given a medical card to receive free (claimable) medical treatment.
However, if you’re looking at your 20s in the rearview mirror, you’re probably heading toward some happy life changes. You are likely making strides in your career, have a higher disposable income, and may have purchased your first home. You may also have gotten married or are planning to, or are building a new family.
Yet, even in your 30’s there may still be some misconceptions surrounding insurance.
LIAM: Most Malaysians are not covered or not adequately covered
In February 2018, the Life Insurance Association of Malaysia (LIAM) revealed in a statement that most Malaysians are not covered or not adequately covered and this may be due to the misconceptions we have about insurance.