{"id":35981,"date":"2018-10-29T14:00:17","date_gmt":"2018-10-29T06:00:17","guid":{"rendered":"https:\/\/www.imoney.my\/articles\/?p=35981"},"modified":"2019-01-17T09:22:46","modified_gmt":"2019-01-17T01:22:46","slug":"get-insurance-before-35","status":"publish","type":"post","link":"https:\/\/www.imoney.my\/articles\/get-insurance-before-35","title":{"rendered":"5 Reasons Why It’s Best To Get Insurance Before You Turn 35"},"content":{"rendered":"

\"Prudential<\/a><\/p>\n

The sound of the word \u2018insurance\u2019 alone is enough to make most young people cringe. It sounds like a tedious process with a lot of paperwork<\/a><\/u> and money involved. Aside from that, young adults who have just graduated from college often have other things to worry about. They need to get a well-paying job, buy a car, buy a house, invest in the latest smartphone – and the list goes on.<\/p>\n

Young people are often in good shape and are less prone to sickness, which is why it\u2019s also easier for them to put the word \u2018health insurance\u2019 at the back of their mind. More often than not, they also have their parents supporting them and providing emergency funds, so it does not occur to them that they need to get a health insurance for themselves.<\/p>\n

Some might perceive insurance as an unnecessary expenditure that just takes money away from you. Others feel that they don\u2019t need insurance until a later stage in life. To top it all off, it\u2019s not compulsory for Malaysians to get health insurance. In the United States, for example, it is compulsory<\/a><\/u> for all citizens and legal residents to have at least a basic health insurance plan.<\/p>\n

One day, when you\u2019re being rushed to the hospital in an ambulance, the last thing you want to worry about is where and how to fork out hundreds of thousands in cold, hard, cash. \u00a0Accidents and tragedies can strike at any moment in life, especially when you least expect it, which is why it\u2019s important to get insured as early on as possible. Plus, research also shows that Malaysia is going through a double-digit healthcare inflation<\/a><\/u>, which means medical bills will cost you a bomb.<\/p>\n

Here are a few reasons why it\u2019s best to get medical insurance as early as possible, ideally before the age of 35:<\/p>\n

<\/span>1. It\u2019s way cheaper to start early<\/strong><\/span><\/h2>\n

Insurance plans and packages vary according to your age. Essentially, the younger you are, the better the deal you get, which means a better premium at a cheaper price.<\/p>\n

That means you will be saving a lot of money investing in an insurance plan at 24 as opposed to 34.<\/p>\n

Since getting insurance earlier also means it\u2019s cheaper, it\u2019s better financial planning on your end, and you\u2019re guaranteed to get value for your money.<\/p>\n

<\/span>2. Don\u2019t let the waiting period affect when you can claim<\/strong><\/span><\/h2>\n

This is another crucial reason why you should get your health or medical insurance as early as possible. No matter what, a waiting period applies to every entry age. A waiting period refers to the period of time stated in your policy which must pass before some or all of your health\/medical coverage can begin.\u00a0 Which is why the earlier you sign up, the better, because then you will have passed the waiting period and can qualify for immediate benefits in case of any emergencies.<\/p>\n

Some policies\u2019 waiting period is 90 days – which isn\u2019t so bad – others can go up to two years, and that\u2019s not something you want to put yourself through.<\/p>\n

Let\u2019s just say that you\u2019ve just been diagnosed with first stage cancer. You\u2019re still trying to reel in from the shock and trauma. The doctor is bombarding you with all kinds of information and treatment options. You realise that your treatment is going to be expensive. That\u2019s unfortunate enough, but much worse than that, you realise that you cannot claim your medical insurance to bear the hefty cost because you only recently signed up so you\u2019re still under the waiting period.<\/a><\/u><\/p>\n

<\/span>3. You qualify for a more comprehensive coverage<\/strong><\/span><\/h2>\n

When investing in insurance, we all want the best and cheapest plan for ourselves. You want to be insured and covered, and yet you don\u2019t want it to take a huge chunk of cash taken out of your paycheck. You also want a flexible plan that changes according to your needs and other circumstances in life. You have your own list of criteria that you want your medical insurance to match.<\/p>\n

The younger and healthier you are, the higher the number of options you have, and you get to be as picky as you want about your medical plans. The older you get, you become more susceptible to illnesses – so the fewer your options and you have to eventually settle for a plan that the insurance company can offer you. Insurance rates get higher as you get older and develop health conditions<\/a><\/u> – so don\u2019t wait!<\/p>\n

<\/span>4. Get early protection from lifestyle-related illnesses<\/strong><\/span><\/h2>\n

Our lifestyles are constantly changing – it\u2019s not the same as it was about 20 to 30 years ago. Most working professionals today resort to a more sedentary lifestyle, which has increased the likelihood of people suffering from hypertension, obesity, and more. The younger generation also lead lifestyles today where they consume plenty of junk food and fast food, as well as increased exposure to pollution. These can all lead to lung cancer, clogged arteries, heart attacks, and etc.<\/p>\n

On the surface, it doesn\u2019t seem like a big deal. Everyone eats junk food right? Everyone is exposed to carbon monoxide every now and then, right? True, but everyone\u2019s bodies are built differently with different strengths to fight illnesses. When you\u2019re young, you feel invincible and can quickly recover when you fall ill. As you get older, your body doesn\u2019t have the same recovering speed. You never know when your immune system will crumble, so it\u2019s best to get insured as early as you can.<\/p>\n

<\/span>5. Get rewarded via no claim bonus <\/strong><\/span><\/h2>\n

Most insurances – including car insurance, if you noticed – offer no claims bonus<\/a><\/u> for their customers. Basically, no claims bonus is a reward offered to you by the insurance company for not making any claim during a given period of time.<\/p>\n

So if you\u2019ve been paying XX amount of money and haven\u2019t made any claims in say, five years, you will be entitled for no-claim cash rebate. Some companies also offer special rewards and benefits if you make no claims for a certain amount of time – so that\u2019s why the earlier you start, the better!<\/p>\n

Assuming you\u2019re already convinced that getting health or medical insurance before you hit 35 is a wise choice to make, what\u2019s the next step? Where do you go from here?<\/p>\n

\"Choose<\/a><\/p>\n

<\/span>Choose the right insurance provider<\/strong><\/span><\/h2>\n

Choosing the right insurance provider is vital. You want an insurance provider that listens and understands your needs.<\/p>\n

Furthermore, you need to ensure that the plan gives you value for money, provides a comprehensive coverage, but at the same time is flexible and tailored according to your needs. You don\u2019t just want a template plan that everyone else has.<\/p>\n

Picking the right insurance provider can also save you a tonne of unnecessary stress and frustration when you\u2019re in dire need of cash to foot medical bills. You want to process to be hassle-free and as seamless as possible.<\/p>\n

<\/span>Get a flexible, tailored plan for your individual needs<\/strong><\/span><\/h2>\n

Prudential\u2019s PRUmy medical plus can cater to all that and more. It is designed to give you long-term coverage while meeting all your protection needs. The best thing about PRUmy medical plus is that you have the flexibility to choose a medical plan that best suits you.<\/p>\n

Whether you want a basic plan that rewards you for staying healthy, or you want a high medical coverage that protects you from the rising medical costs or any unexpected turn of events; PRUmy medical plus can provide you with the solution that you need.<\/p>\n

In addition to basic coverage on death and disability on your plan, you also have the option to add critical illness and accidental coverage with PRUmy medical plus.<\/p>\n

Do you want to live worry-free and protect yourself from surprise doctors\u2019 visits and hefty medical bills from an early age? Do you prefer an insurance plan that is tailor-made for you?<\/p>\n

If your answer is yes, then check out\u00a0PRUmy medical plus<\/a> at Prudential and get your own customised medical plan today!<\/p>\n","protected":false},"excerpt":{"rendered":"

Here\u2019s why you should get yourself covered before you even need it<\/p>\n","protected":false},"author":37,"featured_media":35983,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[133,1,255,236],"tags":[208],"class_list":["post-35981","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-insurance","category-investment","category-medical-insurance","category-sponsored","tag-featured"],"acf":[],"yoast_head":"\nWhy It's Best To Get Insurance Before You Turn 35<\/title>\n<meta name=\"description\" content=\"If you are a young adult and just starting out, you may not think much about health insurance. 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