Correct me if I'm wrong. But I feel like a lot of Malaysians only start thinking about insurance/takaful after someone close to them gets sick. Is it because it's expensive? Too confusing? Or do we just think it'll never happen to us? When I was in Singapore, I felt like almost everyone was protected. At least that's what I noticed la.
Posted by kkwwkkmmkkxx
2 Comments
I wouldn’t say most Malaysians, but many people do delay getting coverage. Cost, other financial commitments and not fully understanding the plans are probably the biggest reasons.
Singapore and Malaysia are a bit different. Singapore has compulsory schemes like MediShield Life, so almost everyone has some level of health coverage. Malaysia relies more on public healthcare plus personal insurance or takaful like Great Eastern Takaful if people choose to buy it.