SECOND OF A THREE-PART SERIESWHILE Malaysians are becoming more aware of the need to have medical insurance/takaful, they also have to contend with increasing premiums/ contributions. This second article of a three-part series on medical insurance/ takaful in Malaysia examines the drivers behind this current scenario. For this reason, a growing number of consumers are purchasing medical insurance/ takaful to cover the costs when the need arises. These premiums/contributions are drawn up based on a variety of assumptions including the probability of a yearly medical inflation. Medical inflation is often higher than other goods and services due to improvements in technology and treatments, new drugs, people living longer and requiring more medical care, etc.

Source: New Strait Times October 22, 2019 05:37 UTC