Insurance policyholders in Malaysia must now deal with significant premium hikes, forcing many to cancel their policies. The controversy surrounding the price hikes has been brought to light by various Facebook users, with some arguing that increased shareholder dividends are a contributing factor.
Insurance policyholders in Malaysia are facing a tough choice: either accept a significant increase in monthly premiums or surrender their policies. This situation has been highlighted by Facebook user Julian Chong, whose wife had to cancel her policy due to a premium increase from RM300 to RM700.
The insurer cited rising patient claims and hospital bills as reasons for the hike, but critics, including Bayan Baru MP Sim Tze Tzin, argue that increased bonuses and dividends to shareholders are also a factor. For many, like executive Nurul Basha, not having insurance is unaffordable, especially for families. April Wong, an assistant marketing manager, believes that if the price hike applies only to new policies, current policyholders may not be as affected. However, the suddenness and magnitude of the increase have left many feeling cheated and financially strained
Insurance Premium Hike Malaysia Facebook Controversy Policyholders
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