When our client, let’s call her Sarah, was diagnosed with lung cancer, her world turned upside down. As someone without a medical insurance plan, Sarah relied on Malaysia’s government hospital for her treatment. She underwent surgery successfully, but her journey was far from over. Her doctor recommended a targeted therapy drug called Tagrisso, which she needed to take for three years to improve her chances of recovery.
There was just one problem: Tagrisso was not available in the government hospital, and the cost was staggering—approximately RM7,000 per month. For Sarah, this was an overwhelming financial burden. Fortunately, she discovered an Assisted Patient Program through Alpro Pharmacy, which offered the medication at a reduced rate. Still, the expense was significant, and Sarah worried about how she would manage.
Initially, Sarah was hesitant to file a claim under her critical illness insurance plan. She was unsure if her claim would be approved and didn’t want to navigate the process. However, after we explained the straightforward steps and reassured her, she decided to proceed. To her relief, AIA quickly reviewed her case and approved her claim, paying out RM200,000 as a lump sum.
The payout was a game-changer for Sarah. It allowed her to afford the life-saving medication without financial stress and provided additional support for her day-to-day expenses during her recovery. She was overjoyed and deeply grateful for the financial security her critical illness plan provided.
This experience highlights the vital difference between critical illness insurance and medical insurance. Critical illness insurance offers a lump sum payout upon diagnosis of a covered condition, giving clients the flexibility to use the funds as needed—whether for medication, alternative treatments, or daily living expenses. A good rule of thumb is to have coverage equivalent to five times your annual salary. On the other hand, medical insurance reimburses hospitalization costs but does not cover long-term medications or provide any lump sum payout.
While Sarah was fortunate to receive surgery at a government hospital, her story also underscores the importance of having both critical illness and medical insurance. With a medical plan, she could have accessed private healthcare options, avoiding potential waiting lists and expanding her treatment choices.
Sarah’s journey is a powerful reminder of how critical illness insurance can provide financial relief and peace of mind during life’s most challenging moments. It’s not just about covering medical bills—it’s about ensuring that clients can focus on recovery without the added stress of financial strain. Both critical illness and medical insurance play crucial roles in safeguarding your health and financial well-being, and having both is the best way to prepare for the unexpected.
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