Allianz Life Launches HealthCover Prime for Critical Illness Financial Protection

Allianz Life Insurance Malaysia Berhad has launched HealthCover Prime, a new financial protection plan designed to support Malaysians through critical illnesses. The product aims to address the long-term financial consequences that often follow medical treatment, such as income disruption and changes in living expenses.

Giulio Slavich, CEO of Allianz Life, emphasized that critical illnesses extend beyond health concerns, often leading to financial crises for families. "Critical illness is no longer just a health issue. For many families, it can turn into a financial crisis," he stated during the Allianz Life Media Forum themed 'Beyond Survival: The Journey from Setback to Comeback'.

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Critical illness is no longer just a health issue. For many families, it can turn into a financial crisis.

The company's claims data reveals a significant need for financial support. In 2025, Allianz Life paid out RM1.33 billion to Malaysian families. The data also indicates a rise in critical illness benefit payouts and claims involving younger Malaysians. Claims related to cancer increased by 29%, stroke by 95%, and heart disease by 22% since 2022, challenging the perception that critical illnesses primarily affect older individuals or the main breadwinners.

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Although medical treatment can save lives, loss of income, depletion of savings, and ongoing financial commitments can create long-term challenges throughout the recovery process.