PETALING JAYA: The Financial Planning Association of Malaysia (FPAM) sees the move by insurers and takaful operators (ITO) to cap yearly premium adjus...
Many households are worried about the rising costs of private medical treatment and the escalating healthcare insurance premiums, Picture for illustration purposes only. – Bernama filepicThe Financial Planning Association of Malaysia sees the move by insurers and takaful operators to cap yearly premium adjustments at 10% for at least 80% of policyholders as a positive step.
“Ensuring uninterrupted protection is critical for financial stability and peace of mind,“ he said in a statement. “Many families are worried about the rising costs, which outstrip their ability to pay for necessary insurance coverage. This disparity underscores the importance of systemic reforms to balance affordability with adequate protection,” said Tan.
Think tank Datametrics Research and Information Sdn Bhd managing director Pankaj Kumar welcomed the measures introduced by the central bank to address escalating cost of medical insurance. In addition, Dr Kuljit said APHM is in discussions with key stakeholders to ensure both the short-term and long-term solutions are sustainable and in the best interest of all.
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