The Ultimate Guide to Better Health & Wealth (Millennial Edition) - Chapter 7

Millennials, Here’s How To Keep Your Parents Safe And Sound

According to the United Nations (UN), population ageing is ‘the process by which older individuals become a proportionally larger share of the total population’. Malaysia is steadfastly moving in this direction and is expected to reach the status as an ageing nation by 2030. A nation becomes an ageing nation when 15% of its population is above 60 years old.

According to Universiti Malaya’s Social Wellbeing Research Centre, Malaysia is projected to reach 3.5 million of its citizens being aged 60 and above in 2020. The number is predicted to steadily increase to 6.3 million in 2040 (this accounts for 20% of the population).

Based on the above projections, the timespan for Malaysia’s transition into an ageing nation is too short compared to other developed nations. For instance, it took France 115 years, Sweden 85 years, Australia 73 years and the US 69 years for the proportion of their respective population aged 60 and above to increase from seven to 14 per cent.

In comparison...
Malaysia will be making the jump in a mere 28 years. As a consequence, the aged population will be highly vulnerable to health as well as financial capacity issues.

Hence, adequate measures need to be taken to ensure the aged live a healthy and financially comfortable life.

Healthcare cost for the elderly

Taking into account Malaysia’s ageing population, the Health Ministry increased healthcare spending from a mere 4.4% of the country’s Gross Domestic Product (GDP) in 2017 to a whopping 6-7% of GDP in 2019.

Lauded by the World Health Organisation (WHO), the move aimed to cater to the healthcare needs of Malaysians who are headed towards longer life expectancies. The government hoped to better equip the medical facilities to tackle non-communicable diseases such as diabetes, heart diseases, high blood pressure and high cholesterol to enable aged Malaysians to live longer, free of diseases and disabilities.

While the government’s increased healthcare spending might provide some relief for Malaysians, on the other hand, caregiving costs at private facilities come with a big price tag.

For those who suffer age-related conditions such as dementia, Alzheimer’s disease and other conditions such as stroke, professional care is required around the clock.

Nursing home with stay-in services cost as high as RM4,000 per month in the Klang Valley and is sure to make a dent in anyone’s retirement fund or their family’s monthly budget.

It would be wiser to use preventive measures to keep your elderly parents healthy before things get worse.

How can you better manage the care of your elderly parents?

Apart from healthcare and financial issues, the elderly often face other issues such as depression, senility, isolation, and non-productivity.

With their children away from home to pursue their career and passion, aged parents often experience the empty nest problem. They are often left alone to face their health issues and are reluctant to inform their children.

Many abandon their well-being altogether leading to more critical health issues in the long run.

Dear millennials, here’s how you can ease your worries

Technology to the rescue

Millennials are no strangers to smartphones, social media platforms and apps. However, their aged parents may not be. This shouldn’t stop us from introducing them to apps and social media platforms that will help you and them monitor their health and lifestyle. These types of apps and platforms can help them keep their health in check, get in touch with their long-lost friends and interact with their grandkids wherever they are.

Some of the apps that may be useful for your parents are:

Apps related toBenefits
Scheduling medicationsThese apps remind users to take their medications on time. Some even remind them when it is time to refill their supply.

For those who are required to take a handful of medications and supplements, these apps will make their day stress-free!
Dealing with poor eyesightFor those with deteriorating eyesight, there are apps that provides relief and gives easy access to information by zooming in and out on small print on restaurant menus, prescription bottles and books.
Tracking of vitalsYour parents can keep track of their blood pressure and weight using apps. These apps also often help to correlate blood pressure with the medications taken, body position and meal type, making it easy for users to keep track of their health daily.
Measuring physical and mental conditionSome apps can tell if the user is stressed. By just placing a finger over the camera for two minutes, the user will get a measurement of their physical and mental health on a scale of one to 100.
Games to keep the mind sharpTo keep the mind sharp, there are many apps that come with science-based brain training games.

Users will be able to maintain their cognitive health through these games.
Health and wellnessAmong the holistic health and wellness apps is Pulse by Prudential. As a holistic AI-powered app that covers health assessment, symptom checker, online consultation, fitness and even finding nearby hospitals and clinic, it can be the tech companion for your parents.

Pulse by Prudential

Pulse is an AI-powered interactive app that is highly suited for the elderly. With an easy-to-navigate interface, Pulse will enable your parents to be independent when it comes to taking care of their health, especially if they are living alone most of the time.

All you need to do is download the app for them, create an account and get them going.

Some of the features of the app that will greatly benefit the elderly are:

An overview of their current health condition
The Health Assessment feature will give an insight into how things are when it comes to your parent’s health. By just answering a series of simple and direct questions about their lifestyle, mental health and body, they will get a Digital Twin that highlights the problems they may be facing.
Take action immediately if something seems off with their body
Should there be any worrying concerns about their health, a sudden pain, or discomfort, your parents can check what could probably be wrong using the Symptom Checker feature. They will just need to key in their symptoms and answer several questions. The AI-powered chatbot will analyse their condition and tell them what’s wrong.
Seek professional help within a few minutes
The Online Consultation feature will enable your parents to connect with a doctor through a video or phone call. Without leaving the comfort of their home, your parents will be able to convey their worries and get advice straight from the doctor. This service is free for Prudential customers and costs just RM10 for non-Prudential customers.
It’s never too late to kick start an active lifestyle
After consultation with the doctor, your parents can incorporate physical exercise into their daily life with the Fitness Tracker feature. Short walks and simple exercises that the doctor has instructed them to will be much easier when there is an extra push from the feature.
Fast, easy and convenient access to clinics and hospitals
The Find a Nearby Clinic or Hospital feature will help your parents to find the nearest clinic and hospital wherever they are, in the event of an emergency. They don’t have to wait for you to be home, anymore.

Pulse will allow the elderly to practise a healthy lifestyle and be alert at all times when it comes to their health and wellness.

By introducing Pulse to your elderly parents, you will be reassured of their wellbeing and health even if you can’t be there for them in person.

Download Pulse for your parents now.


‹ Previous Next: Office Workers, Avoid These Health Risks

Get even more financial clarity with an iMoney account for FREE

We’ve tailored insightful tidbits just for you.

Continue with email

By signing up, I agree to iMoney’s
Terms & Conditions and Privacy Policy

Get free weekly money tips!

*Free of charge. Unsubscribe anytime.
newsletter image