You Don’t Have To Be Old To Get A Critical Illness Claim, Allianz Life’s Numbers Prove It

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Allianz Life Insurance Malaysia Berhad (Allianz Life) is calling on Malaysians to plan for critical illness as a financial risk, making its case at the “Beyond Survival: The Journey from Setback to Comeback” Media Forum in Kuala Lumpur on 26 August.

Allianz Life Chief Executive Officer Giulio Slavich said medical advances have improved survival rates, but many Malaysians remain unprepared for what comes after a diagnosis.

“Critical illness is no longer solely a health issue. For many families, it becomes a financial crisis. Medical treatment may save a life, but the loss of income, depletion of savings and ongoing financial commitments can create lasting challenges throughout the recovery journey,” he said.

Lifetime cancer treatment in Malaysia can cost between RM800,000 and RM1.2 million, according to Allianz Life. Medical inflation has run at 15% for two straight years.

Allianz Life paid RM1.33 billion in claims to Malaysian families in 2025.

Since 2022, stroke-related payouts have climbed 95%, cancer payouts 29%, and heart disease payouts 22%.

Claims Span A Wide Age Range

The claims data pushes back against the idea that critical illness mainly hits older people or sole breadwinners.

Allianz Life recorded claims from an 18-year-old university student diagnosed with blood cancer, a 30-year-old graphic designer with kidney disease, and a managing director diagnosed with colon cancer.

Overall, 43% of critical illness claimants were women, and 31% were below the age of 40.

“These statistics remind us that critical illness is not limited to any one group. It affects students, young professionals, entrepreneurs and parents alike. Anyone with a financial life to protect should consider how they would cope if their income were interrupted for months or even years,” Slavich added.

Dr Murallitharan Munisamy, Managing Director of the National Cancer Society Malaysia, spoke at the forum on the changing face of cancer in the country and the growing need for early prevention and awareness.

Coverage Beyond Treatment

Allianz Life recently launched HealthCover Prime, a critical illness plan built to support policyholders beyond the treatment phase itself.

The plan offers payouts of up to 635% of the insured amount, with coverage ranging from RM20,000 to RM650,000.

HealthCover Prime is open to policyholders from pre-birth to age 70, with coverage running up to age 100 across 162 conditions in 77 categories, according Allianz Life.

Developed in response to evolving claims trends, the insurer said the plan is meant to help policyholders manage income disruption and lifestyle adjustments that often follow a critical illness diagnosis, on top of the immediate medical bills.

The medicine is getting better. The financial planning, Allianz Life says, needs to catch up.

READ MORE: BNM’s MediAsas Aimed At Uninsured Malaysians Lists 35 Exclusions, Including Pre-Existing Conditions

READ MORE: Malaysians Can’t Keep Up With Their Medical Insurance Price Hike

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You Don’t Have To Be Old To Get A Critical Illness Claim, Allianz Life’s Numbers Prove It
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