Just say the word ‘insurance’ and it’s enough to make most young people feel irritated. It is considered a tedious process that involves a lot of paperwork and money. In addition, young people, especially recent graduates, are more focused on other things such as getting the latest smartphones, buying a car, investing in a home, and getting a job with a good salary in order to be able to pay for all of that. buy insurance plan for critical illness Malaysia .
Young people usually have good health and do not often get sick. This causes them to give less priority to insurance coverage such as life and health insurance. Most of the time, they also have parents who always help them in addition to providing money during emergencies, so they don’t think they need to get health insurance for themselves.
Some of them may consider insurance as an unnecessary expense that will consume some of their savings. Others may think they do not need insurance until later in their lives. Furthermore, it is not mandatory for Malaysians to obtain health insurance compared to other countries such as the United States where all citizens and legal residents are required to have at least one basic health insurance plan.
However, incidents where you are rushed to the hospital in an ambulance can happen, and in this situation, the last thing you want to worry about is how you can afford to pay hospital bills that reach several hundred thousand. Accidents and tragedies can happen at any time, especially when you least expect it, which is why it’s important to get insurance as early as possible. Research also shows that Malaysia is experiencing double -digit rising inflation in healthcare. This means medical bills may be more expensive than what you can afford.
Before a disaster strikes, here are some reasons why it is important to get medical insurance as early as possible, preferably before the age of 35:
1. It’s cheaper to start early
Insurance plans and packages vary according to your age. Basically, if you’re younger, you’ll get a better deal, i.e. better coverage at a cheaper price. What is meant by this? You pay a lower price for an insurance plan when you are 24 years old than when you are 34 years old.
2. Don’t let the waiting period for insurance affect when you can make a bill claim
Just like all insurance, a waiting period is provided for all insurance policies, regardless of age. This waiting period refers to the period of time that must elapse as stated in your policy before some or all of your health/ medical coverage can begin.
Therefore, it will benefit you if you register early to get insurance because in the event of any emergency, you have gone through the waiting period and are eligible for immediate benefits.
Some policies have a waiting period of 90 days while others may be up to two years. This is not ideal especially if you are diagnosed with an illness that will involve expensive treatment during the waiting period.