Why You Need A Takaful Plan Now More Than Ever

Sun Life Malaysia

If you are dependent on your employer’s health insurance or Takaful, it might be time to check it out.

What if you lose your job, suffer from a serious illness that forces you to stop working, or if a member of your family needs long-term care?

If you are in urgent need of medical treatment in a private hospital, can you pay the bills out of pocket? If the answer is no, it’s time to take a closer look at your health needs and those of your immediate family.

The cost of medical care in Malaysia increased at an alarming rate of over 100% from 1997 to 2016 and in fact it now ranks second in Asia. With COVID-19 upon us, there may be unforeseen risks that we need to consider.

Rise in Covid-19 cases brings health and financial risks

A survey by Malaysia’s Ministry of Health (MOH) found that over 80% of Malaysians had to use their own income for health services, while 35.8% of them used their savings.

What if you lose your job because of the pandemic and with it your health coverage? Malaysia’s unemployment rate in August this year was the highest in 20 years. Due to the pandemic, the number of unemployed Malays was over 740,000 in early August according to the Statistics Department.

If you’ve been dependent on your job’s health coverage all this time, it’s time to figure out how to handle medical bills if you lose your job, can’t work due to illness, or retire. Either way, you’ll need a backup plan.

Medical coverage provides peace of mind

You might think you can still cover the cost of going to the doctor or even the cost of a blood test or x-ray, which will cost you several hundred ringgit. But what if you are hospitalized, need surgery, or repeat hospital visits for serious illness?

A survey by the Debt Management and Counseling Agency (AKPK) found that less than six in ten people can pay RM 2,500 in medical bills. All it takes is an unforeseen medical emergency that could wreak havoc on your finances.

In these uncertain times, it’s especially important to make sure your financial and medical bases are well covered, the two being closely linked.

Maximize your investment and health protection with Sun Life Malaysia

As a provider of family life and takaful insurance, Sun Life Malaysia has advocated the need to plan early for health and financial protection, and more during this difficult time, to protect yourself and your loved ones. .

An insurance / Takaful plan with medical benefits is useful here, as it acts as a safety net while also providing a financial buffer in the event of a medical emergency. You’ll also have peace of mind knowing that your family is being taken care of should the worst happen.

Sun LIfe Prime Medi Care Plus-i Pilot

You can also consider adding a medical jumper. Medical endorsements add additional benefits on top of your existing Takaful plan, such as hospital room and meal coverage, surgery and operating room costs, medical consultations, and more. So, in addition to making sure your finances are well managed, you now have a back-up plan in the event of health or medical issues.

To protect your loved ones and simultaneously invest for the future, Sun Prime Link-i is an innovative Takaful investment related plan that ticks all the boxes. The plan also includes a new affordable medical rider, Prime Medi Care Plus-i, which gives you financial security and healthcare protection all in one go.

Prime Medi Care Plus-i Pilot *

As the first product linked to a 100% allocation Takaful investment in Malaysia, Sun Prime Link-i * offers full Takaful coverage:

  • Customizable coverage, contribution amount and type of protection for you or your family
  • Protection up to 99 years
  • Death benefit and total and permanent disability insurance (TPD)
  • Selection of various funds linked to Sharia-compliant investments depending on your level of risk
  • Choose from a variety of endorsements to meet your medical, critical illness, accident and disability coverage needs. This includes the new Prime Medi Care Plus-i pilot, an affordable way to financially protect your family against sudden medical bills due to the costs of hospitalization, surgery and outpatient treatment.

Pilot benefits include:

  • Refund of unused hospital room and meals (R&B)
  • 25% increase in R&B benefit every 3 years provided no complaints are made and the hospital’s maximum R&B benefit is 200% of the initial benefit
  • High coverage limit up to an annual limit of RM 3 million with no lifetime limit
  • Genomic testing for cancer patients up to RM20,000 per life for a special test that can provide information on appropriate treatments for certain types of cancer

Sign up today for the Sun Prime Link-i package with Prime Medi Care Plus-i Rider to benefit from a discount of up to RM 500 * by clicking on here!

* Baths and conditions of application.

Riders are an affordable way to include extra benefits in your Takaful plan to make sure all of your needs are met. Given the lingering uncertainties, Sun Prime Link-i and the new medical pilot will make sure you help your loved ones maintain their standard of living and be financially protected in the event of a medical emergency. Speak to a Sun Life Malaysia advisor here to learn more about this and other suitable plans for their dynamic portfolio.

Designate your beneficiary

This year has created uncertainties and unexpected challenges, leaving many of us hoping that we can be better prepared. She also undoubtedly highlighted the need for you to designate your beneficiaries so that your family does not find itself in a precarious financial situation.

CEO and Chairman of Sun Life Malaysia

“In this climate, it is important that you name your beneficiaries to ensure that your assets and your money are distributed as you wish. These issues should not be delayed to ensure that their future welfare is taken into account in the worst case scenario. ”
– Raymond Lew, CEO and President / Country Director of Sun Life Malaysia

With the new e-hibah appointment function, available with all Takaful plans, you can ensure a peaceful transition of your wealth and even the payment of the Takaful plan to the chosen beneficiaries upon their death. All of this at your convenience using the SunAccess Customer Portal anytime, anywhere.

Take into account the valuable lessons of this pandemic and protect yourself from today’s unforeseen events. With the aim of helping Malaysians achieve lifelong financial security and healthier lives, Sun Life Malaysia can help you minimize the impact of any unfortunate situation and ensure that you enjoy protected and brighter days. to come up.

Looking for financial security and lifelong protection for your family? Take the first step with Sun Life Malaysia today.

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Jothi Venkat

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