A survey conducted by Manulife revealed that 70% of Malaysians believe their current employee benefits, particularly in health and retirement, are insufficient to meet future financial and medical needs. This reflects growing concerns over the ability to cover rising healthcare costs and achieve adequate retirement savings.
The Manulife Asia Care Survey 2024, which surveyed 1,038 local consumers, highlighted that a significant portion of Malaysians feels financially unprepared for the future, with 66% of respondents indicating plans to delay retirement due to ongoing financial responsibilities. Additionally, 40% of respondents said they do not expect their children to support them financially in old age, while 49% of Malaysian couples surveyed do not plan to have children.
In response to these concerns, Manulife Malaysia introduced the Manulife Future Shield, a comprehensive health protection plan aimed at Malaysians aged 45 to 55 years old. This plan provides whole life coverage for death, total and permanent disability, accidental death, and old age disability. It also includes a withdrawal benefit to assist with unexpected healthcare costs, such as hospitalisation, surgical expenses, critical illness treatments, and more.
This initiative is part of Manulife’s broader effort to provide better financial and health security for Malaysia’s ageing population, helping policyholders manage complex healthcare needs as they age.
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