00:00Prudential Malaysia has told its policyholders that it must raise medical health premiums
00:07starting next month as the average number of claims has risen by 19.6% compared to last
00:14year. The company said the increasing costs may warrant an annual review of medical plans
00:20and insurance charges to ensure policyholders are well protected. Prudential CEO Lim Eng
00:28Seong said 74 out of 1,000 policyholders made claims under the PruHealth plan compared with 62
00:35a year ago. He said each claim had seen an average increase of 3.9% all from RM14,113 to RM14,664.
00:49He said average medical inflation for PruHealth has continued to increase at a rate of 5.1%
00:55annually over the past three years, resulting in an actual cost increase of 23.6% for the medical
01:03plan. Many policyholders have seen an average increase of 4% with others having their premiums
01:10increased by as high as 30%. According to an insurance manager, the increase is tied to the
01:17policyholder's claims record with those with no claims apparently facing the lowest increase at 4%.
01:25you
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