Healthcare insurance premium may rise

From 2010 to 2014, premium rate increased by an average of 12% per year, driven by high inflation in healthcare costs. This was revealed in a joint statement by three insurance associations

PETALING JAYA: Malaysian healthcare insurers expect premium rates to increase from 12% to 15% per year due to increasing demand for services from the affluent and higher incidences of chronic and lifestyle diseases, such as diabetes and obesity.

From 2010 to 2014, premium rate increased by an average of 12% per year, driven by high inflation in healthcare costs. This was revealed in a joint statement by three insurance associations – Life Insurance Association of Malaysia, Persatuan Insurance Am Malaysia and Malaysian Takaful Association.