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{{label}}Be prepared for any uncertainties or emergencies. Let us help you better understand the importance of medical insurance and takaful coverage.
About medical insurance or takaful
All you need to know
Getting a medical plan
What to look out for
The impact of rising inflation
How does this impact your medical coverage?
Sharing of risks
What is risk pooling?
Medical Plan: Rates/ Charges/ Tabarru' Revision
Tips to future-proof your medical coverage
AIA medical plans
End to end protection for you
How does inflation impact your medical coverage?
Advances in medical technology have undoubtedly improved early detection rates and produced new treatments and medicines to fight diseases and extend lives. This, however, has inevitably led to an increase in the cost of diagnosis and medical treatments. As observed in recent years, healthcare costs are on the rise globally and closer to home, Malaysia’s medical inflation has been growing at a double-digit pace.
What is causing medical costs to go up?
NCDs (e.g. cardiovascular issues, cancer, diabetes) continue to be the main cause of death in Malaysia, where they accounted for about 80%* of deaths recorded in our country.
* Malay Mail, 2022 "Non-communicable diseases main causes of deaths in Malaysia, says Sarawak deputy premier"
This is due to unhealthy lifestyles, stress and poor diet among other factors, causing more people to seek medical treatment, more frequently.
This increases the demand for long-term medical services and medication.
Better quality healthcare also leads to an increased need for qualified staff to operate and maintain the equipment, adding to the overall cost. Higher drug prices also mean rising healthcare costs.
What this means for:
Consumers
This could mean that consumers can expect to pay more for healthcare services. For those who have medical coverage, this also means that more will be taken out of the total amount that they can claim from their medical plans.
Insurance and takaful providers
At the same time, insurance and takaful providers will have to undertake regular reviews of their medical portfolios against rising healthcare costs, including adjustments to rates or insurance charges/Tabarru' if needed, to ensure that their medical portfolio remains healthy in the long run for the benefit of all their customers.