When necessity becomes luxury: Many torn over keeping insurance

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When necessity becomes luxury: Many torn over keeping insurance
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The pair last collaborated on the 2004 action drama 'Angels Of Mission'.

They are now forced to choose between two equally bitter pills: gritting their teeth and continuing with their coverage, or giving up their policies altogether.

“If the hike is not too much, we will still continue to pay or ask the agent for less coverage,” she added. “Individuals might manage but it’s too much for family breadwinners, especially those with multiple policies.” It was reported that medical insurance premiums are expected to rise by between 40% and 70% next year, following notices sent by insurance providers to policyholders citing the rising cost of medical care in private hospitals as the primary reason.

Bank Negara said in a statement on Nov 28 that it requires insurers and takaful operators to review their current repricing strategies to provide a more reasonable adjustment.

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