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BNM to introduce affordable insurance scheme next month

KUALA LUMPUR: Bank Negara Malaysia governor Tan Sri Muhammad Ibrahim said the current insurance products are too complex and unaffordable to many Malaysians. "From the perspective of the population that remain underserved, the existing business models are essentially broken," he said.
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Liberalisation promotes competition which, in turn, benefits consumers

SINCE July 1, motor insurance tariffs have been liberalized. Will this benefit consumers? It depends. In a scenario after the liberalisation, the consumer continues with his old “package” because of convenience, and if prices go up, he may complain over the increase and get angry at the liberalisation regime, or on the other hand, if prices go down, the consumer feels elated that he has saved money because of the liberalisation; then the consumers have not benefited from the liberalisation regime.
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5 Tips of First Time Personal Accident Insurance Buyers

A Personal Accident (PA) insurance policy offers you protection against injuries, disability and death caused by accidents anywhere in the world. The policies should pay for surgery and hospitalisation expenses, funeral expenses and temporary or permanent disability. How much you get in monetary value often depends on the limits stated in your policy.
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Increasing Healthcare Expenditure in Year 2017

The demand for long-term care and non-communicable disease management will increase for the rapidly growing senior population. Concomitantly, infectious diseases, especially dengue, will continue to plague the public. Thirteen countries, including Indonesia, the Philippines, Singapore and Thailand, have licensed the dengue vaccine.
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Sharp Increase In Health Insurance Premium

As quoted by The Star, Kho Chui Ing, the deputy president of National Association of Malaysian Life Insurance Field Force and Advisers (Namlifa), said most companies had adjusted their charges and premiums for medical, health and investment-linked policies over the last few months to cope with medical inflation.
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3 crucial purchases cannot afford NOT to make

You can perhaps go without that expensive winter edition bag, or those high-end shoes, or the sleek smartphone. Nothing is really going to happen if you do not own them. But, there are some important purchases in life, which you shouldn’t go without. Without them, you could be heading down a visible path of a financial nightmare not only for you, but for your family too.
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Motor Insurance Policy

If you are buying a policy against loss/damage to your vehicle, you must ensure that your vehicle is adequately insured as it will affect the amount you can claim in the event of loss/damage. For a new vehicle, the insured value will be the purchase price while for other vehicles, the insured value is the market value of the vehicle at the point you apply for the insurance policy.
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Malaysia 2015 Crime and Safety Report

There has been a noticeable increase in crime in Kuala Lumpur in 2014, including several reported assaults and robberies, sometimes involving weapons. Petty theft, particularly purse snatching and pickpocketing, and residential burglaries are the most common crimes committed against foreigners. Other types of non-violent criminal activity include credit card fraud and automobile theft.
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Dengue Fever in Malaysia

The number of dengue fever cases reported in Malaysia continues to increase year after year since 2011 and in 2015, we see the highest number of cases and deaths as the southeast Asian country topped 120,000 cases. More than half the cases were reported from Selangor state alone (62,000+).
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