Although we want and wish only the best for us and our family members, bad times and bad things would definitely come by us at any point in our life and during the uncertain time being protected is crucial. Investing in an insurance plan is a great way in safeguarding you and your loved ones in overcoming tough times. Insurance plan is essentially the financial security schemes that you are able to purchase via insurance companies or its representatives. Oftentimes, parents that fall under the young adult category purchase and subscribe insurance plans for them and their children. The persuasion process in which to buy medical insurance plan for young adult malaysia is fundamentally the job of an insurance agent.
Insurance and Its Connection Towards Global Recession
Everyone is aware by now that the current economic status has gone really bad in recent times. Things got even worse after the nation declared a pandemic. The hope to strive and improve the economic status have gone bad as the crisis has revealed its consequences. People started losing their jobs and more companies started to shut off either temporarily or permanently. This has created a sort of deep fear within people on what they are actually going to do during emergency situations. The pandemic has severely attacked peoples health whereby there are over 4000000 confirmed cases and over 36 thousand death cases in the span of 3 years. Due to this situation people started to take effort in taking care of their health. With the rising cost of medical expenses, investing in health insurance is one of the great ways in looking after your health as it acts like a shield in covering your medical expenses when you need it the most.
Health insurance helps you to cover your bills if you happen to suffer from any illness or disease. Besides, it would also help you cover if you suffer from any type of injury or disability. Of course nobody plans or intends to to get sick but they do require medical care’s help during those times and when it happens they find it hard to cover the total expenses as it can get real pricey. You are also gain many incentives like free screenings, checkups, preventing cares and vaccines (subjected to the insurance company and it’s policy)
Introduction to Health Screening
There are generally 3 types of health insurance here in Malaysia which is the hospitalisation and surgical insurance, long-term care insurance and dread disease or critical illness insurance. When it comes to buying medical insurance most people in Malaysia make the mistake of buying the insurance policy based on its premium. I do agree that giving importance to the premium is important however it is not everything. It is important that you choose the policy that is able to give coverage to your needs and most importantly the ones that you could actually afford. It is also extremely important to take note of what the health insurance covers and what it does not cover. In Malaysia, most of the medical insurance covers outpatient necessities, physiotherapy treatment, dental treatment, optical treatment, alternatives therapies like chiropractic and acupuncture and also the areas of mental health needs. Do bear in mind that there are subcategories under health that the health insurance does not cover like treatments and surgeries involving fertility matter, certain rare chronic illness that has no cure or require treatment for a longer period of time, cosmetic surgery & plastic surgery as well as child birth.
Another aspect to look after when discussing the needs and wants of medical insurance is definitely the reimbursements and involved panel hospitals. This is one of the most important factors to look after when choosing your insurer. Even if you have a high claimable limit, things would not work if the hospital or medical center is not under the network of the insurer. Let’s say if you have an insurer that has a direct tie-up with a specific hospital then you may opt for the cashless treatment facility (subject differs according to the policy). This would ease your whole process of paying and documenting files for insurance uses. It can also be said that you don’t actually have to fork out money and the claim will be settled directly by the company. This will save you time and energy from externally applying for a reimbursement. If you have a preferred hospital or a family doctor do check with them and see if they work in your desired network of insurance agents.
The bottom line of this writeup is to remind and give a little exposure to all of you on how important it is to invest in health insurance. It would come real handy to you during uncertain times like inflation and economic crisis.
