1 Jul - 3 min read
Around the world, Malaysia included, cancer has remained as one of the leading causes of death. Last year, the Health Ministry reported that there was an 11.3% increase in cancer cases from the years 2007 – 2011 to 2012 – 2016. In another report in 2020, there were a total of 29, 530 cancer deaths in Malaysia, with breast, lung, and colon cancer topping the list of highest detected cancers.
Moreover, there was also a 14% increase in medical inflation in 2020, due to several factors such as the ageing population, a utilisation surge for healthcare services, and Malaysians opting for specialists instead of general practitioners.
In the long run, individuals and families who are unfortunately diagnosed with cancer may suffer from harsh financial impacts; spending 30% of their household income on cancer treatments following a cancer diagnosis. For example, cancer surgery can range from RM10,000 (breast cancer) to RM50,000 (stomach cancer).
With this in mind, Takaful IKHLAS now introduces an essential Cancer Rider to their basic life protection plan, IKHLAS Bersama. It is the first Cancer Rider to offer treatment allowance and hospice care in Malaysia that provides comprehensive cancer coverage from early to advanced cancer stages.
On top of the Accelerated Death Expense of up to RM20,000 with IKHLAS Bersama, the Cancer Rider provides a wide range of coverage from a selection of riders for those aged between 30 days old and 60 years old with up to RM1.5 million for 5 – 85 years cancer coverage.
Cancer treatment costs can be expensive as it depends on a few variables such as cancer type, cancer stage, age, etc. There is no standard definitive treatment for cancer as it involves a combination of treatments. Under the cancer rider, Treatment Allowance of RM100 a day will be provided when the person covered goes through chemotherapy, radiotherapy, immunotherapy or surgery related to cancer. The maximum Treatment Allowance payable is RM10,000 for the certificate term.
After cancer treatment, the road to recovery does not end there. For some, continuing treatment at home would be necessary, and taking care of a cancer-stricken loved one can have its own challenges. Therefore, a total of RM10,000 for Hospice Care Benefit will be provided in two instalments.
By providing this Cancer Rider, Takaful IKHLAS aims to provide comprehensive financial solutions to cancer patients and their families, especially families with a sole breadwinner. From household expenses to continuing to send their children to school, families can rest assured that these expenses can be covered without risking financial instability.
If the person covered is unfortunately diagnosed with Carcinoma-in-situ, Early Prostate Cancer, Early Thyroid Cancer, Early Urinary Bladder or Early Chronic Lymphocytic Leukemia in the early stages, 30% of the rider sum covered will be payable.
If the person coverage is diagnosed with advanced-stage cancer, then 100% of the rider sum covered will be payable or the balance of 70% of the rider sum covered will be payable, if there was a claim made within 5 years from the onset of early-stage diagnosis.
With both the risk of cancer and healthcare costs on the rise, Takaful IKHLAS’ Cancer Rider is an affordable and comprehensive cancer coverage plan for you and your loved ones. Apart from focusing on cancer recovery, making sure that your family is well-protected in case of the unexpected is one of the top priorities of any breadwinner in the family.
For more information, head to Takaful IKHLAS’ website and get covered for cancer today!
Subscribe to our exclusive weekly newsletter and we’ll bring you the week’s highlights of financial news, expert tips, guides, and the latest credit card and e-wallet deals.
Stay tuned for what’s to come next in the personal finance world