WHEN IT MATTERS MOST

The Star

5 days ago

FOR Asha and her husband, retirement was supposed to be their golden chapter – slow mornings, long holidays, time with the grandchildren and gardening together.
But when her husband was diagnosed with dementia just months after turning 61, everything changed. The plans they'd held so dearly now felt like a distant memory.
Their savings – once earmarked for adventures and new memories – were quickly rerouted to round-the-clock care. What they hadn't counted on was how fast the costs would climb.
While his medical insurance helps with some of the medical bills, it doesn't cover the full financial strain of ongoing care. Asha and her husband have life insurance – but traditional policies only pay out after death.
In their moment of crisis, what they really needed was help while they were still living – support for a caregiver, physiotherapy sessions and the growing list of everyday expenses that come with a long-term condition.
This is a reality for many Malaysian families. Hong Leong Assurance (HLA) – the largest local life insurance provider – is stepping up with one of the first supplementary plans in the market that focuses on living benefits – the HLA Future Secured Rider.
This supplementary plan doesn't replace any existing coverage, but enhances it, giving seniors like Asha what most life insurance policies don't: immediate access to funds when life throws you a curveball, ensuring you can continue to live with dignity and joy, despite the challenges.
Solution for the future
HLA has designed this plan for those nearing their golden years – a time when employment-related benefits usually cease and health becomes a growing priority.
As a homegrown insurer with more than 50 years of experience navigating the financial realities of everyday Malaysians, HLA developed the HLA Future Secured as a timely response to some of Malaysia's biggest national concerns.
According to the Khazanah Research Institute, over 90% of Employees Provident Fund members under the age of 30 lack the basic savings needed for a comfortable retirement.
In addition to that, the Department of Statistics Malaysia (DOSM) estimates that by 2040, nearly 6.4 million or 17.3% of Malaysians will be aged 60 and above.
With Malaysia's population ageing rapidly, healthcare costs for critical illnesses on the rise, and retirement savings falling dangerously short, many future seniors may struggle to afford even basic medical care.
HLA Future Secured Rider is a forward-looking plan that offers early, flexible payouts and continuous living benefits, redefining traditional life insurance by providing support when it's needed most.
This plan aims to bridge that gap by allowing policyholders to access their benefits upon diagnosis of selected medical conditions or hospitalisation, starting from age 60.
In the event of a diagnosis such as Parkinson's, dementia, or a stroke – or if hospitalisation costs exceed RM70,000 – it allows policy holders a drawdown of up to 70% of the sum assured to help ease financial pressure and support recovery, allowing you to continue living with dignity in the face of life's battles.
The benefit also activates when admission to the Intensive Care Unit (ICU) extends to 10 days or more, providing timely financial relief when it matters most.
Sometimes, life also throws us into situations we never imagined – an illness or disablement that suddenly makes even the simplest daily tasks feel out of reach. With this plan, there's up to RM4mil in coverage to help shoulder some of that weight.
If you're no longer able to manage at least three Activities of Daily Living (ADLs) – like bathing, dressing, eating, moving around, or managing continence – the payout kicks in right from Day 1 of the policy.
Ongoing care
The Continuous Support Benefit, created to ease the burden for those facing serious health challenges such as stroke, dementia, or Parkinson's disease, is especially significant to HLA, given the steep costs tied to long-term care for these conditions.
The lifetime cost for an ischemic stroke – the most common type in Malaysia — is estimated at RM36,400 per patient.
Meanwhile, the Alzheimer's Disease Foundation Malaysia (ADFM), revealed that dementia cases are projected to spike by 312% by 2050.
The ADFM also estimates that the total cost, factoring in social support and unpaid family care, averages around RM3,095 per person.
To help ease these financial strains, the Continuous Support Benefit provides a monthly payout of 1% from the sum assured if policyholders are diagnosed with any of these debilitating conditions – offering a steady stream of financial relief.
Vital lifeline
As Malaysia's population ages and healthcare costs continue to climb, stories like Asha's serve as a stark reminder of the urgent need to plan ahead.
While not every crisis can be foreseen, financial preparedness can mean the difference between stability and sacrifice.
HLA Future Secured offers a crucial safety net, easing the financial burden on families and caregivers during life's most challenging moments, empowering Malaysians to secure a confident, joyful and dignified journey into their golden years.
Live out your golden years on your own terms and own the freedom of having choices and support when you need it.
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