As healthcare costs soar, adequate medical insurance has become a necessity for everyone.
THE cost of living is steadily rising, making it harder to manage healthcare expenses.
Chronic diseases such as diabetes, hypertension, high cholesterol and obesity continue to pose significant health threats, with cancer also being a critical concern.
Combined with increasing medical expenses, these realities highlight the pressing need for robust medical coverage to protect oneself and loved ones from financial hardship.
As healthcare costs soar, having adequate medical insurance is no longer just an option but a necessity.
Without proper coverage, one serious health crisis could deplete your savings, leaving you and your family vulnerable.
Generali Life Insurance Malaysia Berhad addresses this issue head-on with the introduction of its newly launched medical plan — GenMedic.
Comprehensive medical coverage
The Malaysian healthcare landscape presents a stark picture of the challenges citizens face. Findings from the National Health and Morbidity Survey (NHMS) 2023 revealed that over half a million, or 2.5%, of adults in Malaysia are currently living with four major non-communicable diseases (NCDs): diabetes, hypertension, high cholesterol and obesity. For instance, diabetes has become one of the top causes of death, affecting 15.6% of Malaysian adults, or 1 in 6.
This worrying trend isn't limited to diabetes. According to the Malaysia National Cancer Registry Report (2017-2021), the lifetime risk of cancer for Malaysians is alarming. It is reported that the lifetime risk of developing cancer for both males and females has increased to 1 in 8. The report highlights that the four most common cancers in Malaysia are breast cancer (17.6%), colorectal cancer (14.1%), lung, trachea and bronchus cancer (10.1%) and lymphoma (5.2%).
With 1 in 2 adults in Malaysia spending over two hours a day sitting, the lack of physical activity poses a significant health risk.
Adding to the issue is the increasing number of people leading sedentary lifestyles. The NHMS 2023 stated that 1 in 2 adults in Malaysia spend more than two hours a day sitting, lying down, or reclining while awake.This lack of physical activity only heightens the risks associated with NCDs.
In light of these realities, the importance of having a well-rounded medical plan like GenMedic cannot be overstated. GenMedic ensures individuals and families are prepared for unforeseen health issues, especially with Malaysia’s ever-growing health challenges.
Insufficient medical coverage
Despite these glaring health risks, a significant portion of the population in Malaysia remains uninsured.
According to global data and business intelligence platform Statista, a survey on financial literacy conducted in Malaysia as of October 2023 revealed that only 33% of respondents had personal medical insurance. Shockingly, 44% admitted they did not have either personal or company-issued medical insurance.
This statistic highlights the vulnerability of many Malaysians, who may be unprepared for the high costs associated with medical treatment. Medical emergencies without insurance can quickly deplete personal savings, leaving individuals in difficult financial situations.
That’s where GenMedic comes in to bridge the gap, offering Malaysians a safety net that can help them navigate these turbulent health challenges without the fear of financial depletion.
A lifelong solution for health protection
GenMedic is more than just another insurance plan; it’s designed to provide comprehensive coverage that adapts to your health needs throughout life. One of its standout features is the lifelong high annual limit of up to RM8mil, making it one of the most robust medical protection plans available in Malaysia.
Moreover, GenMedic offers enhanced cancer coverage, which includes not only in-patient but also outpatient treatment. This means that individuals diagnosed with cancer will have access to the best available treatments without worrying about cost constraints. As cancer continues to be one of the leading health challenges in Malaysia, having this enhanced coverage ensures that policyholders are better equipped to battle the disease.
GenMedic includes a co-insurance feature, where the customer is responsible for only 5% of eligible expenses each policy year, while Generali Life Insurance covers 95% of those costs.
For accident or emergency treatment, admission to government facilities and specific outpatient treatments covered under this medical plan, Generali Life Insurance will pay 100% of the eligible expenses.
Besides this, there are various plans available, some of which include a co-insurance feature that allows customers to benefit from lower premiums — saving up to 25%. This flexibility allows policyholders to select plans that align with their budget while maintaining sustainable, long-term medical protection.
In addition, GenMedic provides coverage up to age 80 and guaranteed renewable up to age 100, allowing for continuous health protection throughout one’s life. With this comprehensive coverage, individuals can feel confident knowing that they have a reliable and extensive plan to support them, even in their later years.
The GenMedic Cashback campaign offers a perfect opportunity for those looking to secure medical insurance or upgrade their existing coverage.
Cashback campaign
To celebrate the launch of GenMedic, Generali Life Insurance is offering a GenMedic Cashback campaign from Sept 1 to Dec 31, 2024. During this campaign, new policyholders can enjoy up to two months’ premium cashback, adding even more value to their plan.
This campaign is the perfect opportunity for individuals who have yet to secure medical insurance or those looking to upgrade their existing coverage to explore GenMedic.
With a combination of high annual limits, enhanced cancer coverage, and flexible premium plans, this plan provides the essential medical protection that Malaysians need.
Health protection for all
With GenMedic, the insurer has developed a medical protection plan that addresses the real healthcare concerns facing Malaysians today.
As medical costs continue to rise and the prevalence of chronic diseases and cancer remains high, it is vital to secure sufficient coverage to safeguard yourself and your family.
Sign up for GenMedic now and enjoy up to two months’ premium cashback.
To learn more, visit GenMedic.
