As the economy grows increasingly challenging, many Malaysians are being forced to reassess every ringgit they spend, ensuring that every expense is both necessary and worthwhile.
Insurance ownership has become one of the “casualties” of the rising cost of living following the increase in premium rates beginning this year, with media reports quoting insurance and takaful agents who said many of their clients have cancelled their policies to ease financial burdens.
According to them, clients have revealed that they can no longer afford to pay the monthly premiums and view insurance protection as less essential compared to other basic needs.
