Skip to main content
  • EN
  • BM
  • Search
  • AIA Malaysia
  • Our Products
    • Life Protection
    • Medical Protection
    • Critical Illness Protection
    • Savings & Investment
    • Accident Protection
    • Property Solutions
    • Motor Insurance
    • Online Products
    • AIA Vitality
    • Employee Benefits
    • Commercial Insurance
  • AIA Vitality
    • How It Works
    • REWARDS & BENEFITS
    • Member’s Testimonial
    • Join AIA Vitality
  • What Matters
    • Health & Wellness
    • Finance & Insurance
    • Video Gallery
    • Mental Wellbeing
    • Health Statistics
  • About AIA
    • About AIA Bhd.
    • About AIA Public Takaful Bhd
    • About AIA General Berhad
    • About AIA Pension & Asset Management
    • Career Opportunities
    • Community & Partnerships
    • Media Centre
    • Events & Promotions
    • Customer Charter
  • Help & Support
    • Contact Us
    • Locate Us
    • Claims Process And Guides
    • Premium Payment
    • FAQ
    • Important Announcements
    • Form Library
    • How to Guides
  • My AIA
    • CUSTOMER LOGIN
    • CUSTOMER REGISTRATION
    • CORPORATE LOGIN
  • Investment-Linked Funds
AIA
  • Our Products

    Our Products

    Select from one of the categories on the right or click here for a recommendation based on your needs.

    Let us help you
    Investment-Linked Funds

    Get the latest updates on our funds and their performance.

    Click here to view AIA Investment Linked Funds Performance Report 2021

    For Individuals

    For Business

    • Life Protection

      Protect yourself and your loved ones from life's uncertainties with AIA's life insurance and takaful plans.

    • Medical Protection

      Avoid unforeseen medical expenses with AIA's medical insurance and takaful plans.

    • Critical Illness Protection

      Focus on your recovery and not your financial commitments when you have AIA's critical illness insurance or takaful plans.

    • Savings & Investment

      Stay protected while you secure your future with AIA's savings and investment plans.

    • Accident Protection

      Safeguard yourself from accidents with AIA's personal accident insurance plans.

    • Property Solutions

      Finance your dream property and ensure your household contents are well-protected.

    • Motor Insurance

      Get comprehensive protection for your motor vehicles.

    • Online Products

      Sign-up for our insurance and takaful plans online for immediate protection.

    • AIA Vitality

      AIA Vitality is the science-backed wellness programme that works with you and rewards you for the healthy choices you make. Find out more

    • Employee Benefits

      Secure your company's most important asset through our market-leading solutions.

    • Commercial Insurance

      Secure your business against mishaps and damages.

  • AIA Vitality

    AIA Vitality

    We support you in taking charge of your health.

    FIND OUT MORE
    • How It Works

      Discover how AIA Vitality motivates you to make healthy choices sustainably.

    • REWARDS & BENEFITS

      Find out what are the rewards and benefits that you can enjoy as an AIA Vitality member.

    • Member’s Testimonial

      Be inspired by the stories of our members 's journey with AIA Vitality

    • Join AIA Vitality

      Kickstart your journey towards better health today!

  • What Matters

    What Matters

    Guides and tips on the latest Health & Finance topics.

    VIEW ALL IN WHAT MATTERS
    • Health & Wellness

      Wholesome & healthy living starts today.

    • Finance & Insurance

      Discover our wide range of insurance and finance topics

    • Video Gallery

      Short videos on the latest Health & Finance topics.

    • Mental Wellbeing

      Start taking care of your mental health today.

    • Health Statistics

      Learn more about the current health statistic.

  • About AIA

    About AIA

    For almost a century, AIA has served the ever-changing needs of millions of people all across the Asia-Pacific region.

    Read More
    • About AIA Bhd.

      Who we are, what we do, our vision and awards.

    • About AIA Public Takaful Bhd

      Who we are, what we do, our vision and awards.

    • About AIA General Berhad

      Who we are, what we do, our vision and awards.

    • About AIA Pension & Asset Management

      Who we are, what we do, our vision and awards.

    • Career Opportunities

      Interested to join our AIA family? Look for a role that suits you.

    • Community & Partnerships

      Giving back to the community is important to us.

    • Media Centre

      Financials, press releases and other info about AIA.

    • Events & Promotions

      Events & Promotions

    • Customer Charter

      Our Commitment to our Customers

  • Help & Support

    Help & Support

    We strive to assist you with any inquiries you might have with a high touch customer service experience.

    Contact AIA
    • Contact Us

      Cannot find the answer in our FAQ section? Contact us now.

    • Locate Us

      Find us and our panel healthcare partners on Google Map

    • Claims Process And Guides

      Find Claims related information and guides here.

    • Premium Payment

      Find information and guides on how to pay premiums here.

    • FAQ

      Have a question? You may find the answer here.

    • Important Announcements

      Useful information for our customers

    • Form Library

      Need a form? Check our form library.

    • How to Guides

      Learn how to perform self serve transaction online at My AIA Portal.

  • My AIA

    My AIA

    Manage your AIA plans, employee benefits, stay healthy with AIA Vitality, and access healthcare services.

    Download My AIA
    Download My AIA
    Download My AIA
    Download My AIA
    • individual
      CUSTOMER PORTAL

      Manage your AIA plans, employee benefits, stay healthy with AIA Vitality, and access healthcare services.

      Register Login

    • corporate
      CORPORATE PORTAL

      For HR personnel and Intermediaries to manage the company's employee benefits portfolio effectively.

      Login

  • Language Select
    • EN
    • BM
  • Search
  • Contact Us
    • Contact Us

      Operating hours:
      Monday - Thursday: 8.30am - 5.30pm,
      Friday: 8.30am - 4.30pm

    • AIA BHD.

    • AIA PUBLIC TAKAFUL BHD.

    • AIA General Berhad

    • AIA Roadside Assist

Finance & Insurance
Prev | Next
Back to Top
  • {{title}}

    {{label}}
  • Common Insurance Misconceptions When in Your 40’s

    Happy family

    Your fourth decade comes with pretty significant milestones. You’ve worked hard in your career and it’s finally paying off, leading to a senior position at work and a steady climb up the corporate ladder. Your kids would be working their way into high school and toward their own future goals. You would also have paid off a number of loans and perhaps you’re finally at a place where you can afford the type of lifestyle you’ve always wanted – with your dream home, travel, leisure, and financial freedom.

    While everything may be going great at the moment, it’s vital that you have the proper insurance policies in place to ensure that you lead a stress-free life for the rest of your days.

    When you were in your twenties or thirties, you would have already navigated your way to an ideal insurance solution. However, many people in their forties fail to take into account the changing circumstances in their lives. Many of you have a higher net worth, a bigger portfolio of assets, perhaps a more affluent lifestyle and older children with different needs. The insurance policy you purchased in your twenties or thirties may no longer be sufficient or suitable when you’re in your forties and gearing up towards retirement.

    According to Life Insurance Association of Malaysia (LIAM), only half of Malaysians are insured.

    Additionally, only half of Malaysians are insured according to a recent statement by the Life Insurance Association of Malaysia (LIAM). This may be due to certain misconceptions surrounding insurance.  Let’s take a look at the most common misconceptions you encounter from people in their forties.

    Misconception #1: “I’m a senior executive and have comprehensive employer coverage, so I don’t need my own policy.”

    Business men talking

    Truth: Depending on your company’s policy, you may only be covered while you’re on the job. You will want to ensure that you’re adequately covered for retrenchment and (unless you are an employee of the government, which provides a pension) for retirement too, as some insurance policies may only provide cover for loss of income due to disability. Now that you’re in your forties, and having greater disposable income, you’re in prime position to ensure an independent future, regardless of your job. 

    On another front, a research study conducted by EPF states that life expectancy in Malaysia has increased which is good news. The key is now to consider that you are well-protected on a personal level, so that you and your family, or dependents, will have peace of mind for the long term.

    Of course, this does not mean that your insurance policies have to overlap. Check to see what your coverage entails under your employer’s policy, and protect yourself further where necessary.

    Misconception #2: “I’ve got mortgage insurance and critical illness cover in place already.”

    Silhouette of a patient in a hospital

    Truth: Other than hospital bills and your mortgage payments, costs such as rehabilitation in the event of disability, medical equipment and healthcare at home, loss of income, and lifestyle adjustments are only covered on a limited basis.

    Certain critical illness policies also expire after a payout, depending on the options you’ve selected.  What you want to ensure is that you will be well-protected till end-of-life and have sufficient funds to support yourself and your family’s expenses in future. 

    A general guide in the case of life insurance is to ensure you are insured up to 10 to 15 times your annual income, in order to cover your family’s lifestyle in the way they’re accustomed to, for the next 10-15 years. Of course, how much coverage you need will vary according to the number of dependents you have, what their needs are, such as educational costs or special health needs.

    Another factor affecting your calculations would be the amount of debt commitments you hold, and to ensure your family will be able to seamlessly maintain any commitments without interruptions.

    SEE ALSO: INSURANCE 101: A QUICK GUIDE TO TERM LIFE AND WHOLE LIFE POLICY

    Guy in wheelchair looking back

    Misconception #3: “I don’t need insurance because I’m not the breadwinner. My spouse already has comprehensive insurance, so I can get away with minimal coverage.”

    Truth: Each individual deserves to be well-protected. Even if you don’t have an income to protect, you will want to ensure that your loved ones will have the support they need in the event of your absence. For example, there may be added childcare costs, and joint or personal debts to consider.

    You will want to be in control of any unexpected medical costs that are not budgeted for in cases of debilitation, especially if it requires time for you to get back on your feet.

    Human relationships are also often unpredictable. However, it’s good practice, even in good times, to just empower yourself with financial independence and the ability to leave a legacy for your children. There are solutions which you can consider as an individual to give you the upper hand financially, and this will benefit you, your spouse and your family members in the long run.   

    Recommended Product

    +

    DETAILED TERMS AND CONDITIONS

    DETAILED TERMS AND CONDITIONS
    - COLLAPSE + EXPAND

    Misconception #4: “I have updated my insurance policies in my thirties. Since there aren’t any major life changes - I don’t need to review my policies.”

    Girl sitting on a cliff happy

    Truth: As time passes and your family grows, there may be different needs and lifestyle changes, debts or milestone plans that you have to cover. Perhaps you have college-going children and you need to ensure that their education is not disrupted, or you may have plans to make milestone purchases such as a second (or third) home, or a yacht!  Apart from maintaining control of your family’s lifestyle for the next 10-15 years, you will want to look at protecting your new assets and milestone plans.

    In your forties, as your net worth increases, so does your insurance needs. You may be covered for the basics in insurance (health, car, home) as you may have acquired those policies in your twenties or thirties. However your new assets may require further protection. Beyond your largest investments, such as homes, cars, or boats, you may wish to look into a high-net worth insurance policy which will provide customised protection to recover or replace items such as paintings, jewellery, and sculptures. Beyond that, insurance can also help you protect maintenance expenses such as the cost of your household staff, drivers, landscape artist and other contractors.

    If you’re a business owner, you may also wish to look into excess liability insurance to protect you from major claims and lawsuits, which, in turn, helps protect your personal assets and your future.

    Finally, you may have acquired a number of insurance policies over the years (some through your credit card perhaps) which may be overlapping, meaning you may be paying too much in insurance premiums. It would be advisable to review all your policies, to see where you can optimise your coverage, yet be sure that you are well-protected. If you have ageing assets which you plan to keep, have them revalued and insure them accordingly. Insurance products have also evolved and your financial or insurance advisor should be able to highlight the policies which aren’t serving you and guide you to new plans which may allow you to consolidate your insurance needs.

    Misconception #5: “It's too late for me to get insurance now that I’m in my forties.”

    A man looking worried

    Truth: This may be the largest misconception you hear from those in their forties. While it is true that insurance premiums are higher than they would be if you were in your twenties or thirties, premiums are not astronomical simply because you have hit the big four-O. In fact, it’s never too late to get insured. There are a great number of flexible options for policyholders in their forties, especially if you are in good health, which can ensure that you are protected in terms of healthcare, and even financially in the future. More importantly, it can also extend to protection for your assets, your life partner and family members.

    There’s a risk of developing health issues when you are older, therefore, you’re in a far better position to get insurance cover in your forties, as compared to your fifties or sixties. Receiving support from an insurance policy in your later years can make a big difference.

    Being in your forties can be an empowering and fulfilling time. While you’re making great strides in the art of living well, get peace of mind with insurance solutions that serve to benefit your future, as well as the future of your loved ones. 

    References
    www.policygenius.com
    www.malaysia-health-insurance.com
    https://ringgitplus.com/en/blog/Insurance/How-to-Get-Truly-Comprehensive-Insurance.html
    https://www.imoney.my/articles/are-you-over-insured
    https://www.thestar.com.my/business/business-news/2017/10/25/most-malaysians-cannot-afford-to-retire/
    https://www.thestar.com.my/business/business-news/2017/02/25/look-beyond-epf-dividends-when-preparing-for-retirement/

    The above articles are intended for informational purposes only. AIA accepts no responsibility for loss which may arise from reliance on information contained in the articles.

    WHICH OF THE FOLLOWING MISCONCEPTIONS DO YOU HAVE ABOUT INSURANCE?

    • Yes (55%)
    • No (45%)

    Related Articles

    4 Important Questions In Retirement Planning


    How much do you need to retire comfortably? How can you achieve a comfortable retirement? Here are 4 questions to help you discover your retirement fund needs.

    Do I Need My Own Medical Insurance? | AIA Malaysia


    Find out what a medical insurance plan is all about and the types of medical protection available in the market.

    What’s The Recommended Insurance Plan for Different Life Stages? | AIA Malaysia


    As a person grows in age, so do their responsibilities and commitments.
    One Second Survey
    One Second Survey
    ×
    One Second Survey

    What do you think of this article?

    Our Products
    Life Protection
    Medical Protection
    Critical Illness Protection
    Savings & Investment
    Accident Protection
    Property Solution
    Motor Insurance
    Online Products
    Our Products
    Life Protection
    Medical Protection
    Critical Illness Protection
    Savings & Investment
    Accident Protection
    Property Solution
    Motor Insurance
    Online Products

    This website uses cookies for the purpose of enhancing your user experience. You can find more information on the types of cookies we collect, what we use these for, and how to manage your cookie settings in our Cookies Policy and Privacy Statement.

    What matters
    Health & Wellness
    Finance & Insurance
    Video Gallery
    Mental Wellbeing
    Health Statistics
    About Us
    About AIA Bhd.
    About AIA PUBLIC Takaful Bhd.
    About AIA General Berhad
    About AIA Pension and Asset Management Sdn. Bhd. 
    Careers
    Community & Partnership
    Events & Promotions
    Sitemap
    Help & Support
    Contact Us
    FAQ
    Important Announcement
    Form Library
    AIA Malaysia
    Menara AIA, 99, Jalan Ampang,
    50450 Kuala Lumpur
    AIA Bhd.
    1300-88-1899
    For Overseas Customers
    603 2056 1111
    AIA PUBLIC Takaful Bhd.
    1300-88-8922
    AIA General Berhad
    1300-88-1899
    AIA Pension and Asset Management Sdn. Bhd.
    1300-22-7771
    AIA Auto Assist / Roadside Assist
    1-800-88-8733
    What matters
    Health & Wellness
    Finance & Insurance
    Video Gallery
    Mental Wellbeing
    Health Statistics
    ABOUT US
    About AIA Bhd.
    About AIA PUBLIC Takaful Bhd.
    About AIA General Berhad
    About AIA Pension and Asset Management Sdn. Bhd. 
    Careers
    Community & Partnership
    Events & Promotions
    Sitemap

    This website uses cookies for the purpose of enhancing your user experience. You can find more information on the types of cookies we collect, what we use these for, and how to manage your cookie settings in our Cookies Policy and Privacy Statement.

    Help & Support
    Contact Us
    FAQ
    Important Announcement
    Form Library
    AIA Malaysia
    Menara AIA, 99, Jalan Ampang,
    50450 Kuala Lumpur
    AIA Bhd.
    1300-88-1899
    For Overseas Customers
    603 2056 1111
    AIA PUBLIC Takaful Bhd.
    1300-88-8922
    AIA General Berhad
    1300-88-1899
    AIA Pension and Asset Management Sdn. Bhd.
    1300-22-7771
    AIA Roadside Assist
    1-800-88-8733
    www.aia.com.my/roadsideAssist

    Copyright © 2023 AIA Group Limited and its subsidiaries. AIA Bhd. 200701032867 (790895-D) AIA PUBLIC Takaful Bhd. 201101007816 (935955-M) AIA General Berhad 201001040438 (924363-W) AIA Pension and Asset Management Sdn. Bhd. 201201027147 (1011637-P) AIA Health Services Sdn. Bhd. 199601016211 (388561-T). All rights reserved.
    Terms of Use | Privacy Statement | Code of Conduct | Sitemap