{"id":56202,"date":"2023-08-08T12:11:29","date_gmt":"2023-08-08T04:11:29","guid":{"rendered":"https:\/\/www.imoney.my\/articles\/?p=56202"},"modified":"2024-01-30T16:27:06","modified_gmt":"2024-01-30T08:27:06","slug":"personal-financing-for-medical-bills","status":"publish","type":"post","link":"https:\/\/www.imoney.my\/articles\/personal-financing-for-medical-bills","title":{"rendered":"Should You Consider Personal Financing For Medical Bills?"},"content":{"rendered":"

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Malaysia has officially gained the status of an \u201cageing population<\/a>\u201d as the population of those aged 65 years and above increased to 7.3% in 2022<\/a>.<\/p>\n

With an older population and the rising cost of healthcare due to medical inflation<\/a>, facing an unexpected medical crisis could cause you to suffer financially. Insurance can help but it might not be enough to cover all of the costs<\/a> or provide you the funds fast enough.<\/p>\n

And if you don\u2019t have insurance or enough cash, you\u2019ll sometimes be forced to borrow money from family, friends, and relatives in order to pay for treatments.<\/p>\n

Because of that, a lot of Malaysians end up paying out-of-pocket as much as RM24.6 billion for medical services<\/a>, putting them under further financial strain.<\/p>\n

What if there is another way to help you cope with large medical expenses?<\/p>\n

<\/span>Using personal financing to pay for medical treatment<\/span><\/h2>\n

Paying for medical expenses by using up all your cash flow will only put more strain on your finances.<\/p>\n

Instead, you can use personal financing to finance large medical bills and spread out the repayments\/payments over a longer period.<\/p>\n

And when it comes to personal financing for medical purposes, through the RHB Personal Financing\/-i you can get immediate financial relief to pay for your medical expense with unique benefits such as same-day approval<\/strong> and special rates as low as 7.19% fixed rate equivalent.<\/strong><\/p>\n

<\/span>How can Personal Financing provide temporary financial relief?<\/span><\/h2>\n

Using personal financing for medical expenses enables you to fund a wider range of treatments and elective surgeries that your insurance policy may not necessarily cover.<\/p>\n

Moreover, you can receive the funds in a timely manner and not have to wait for your insurance provider to process and approve the claims to release the payment which can involve a lengthy waiting period.<\/p>\n

Under RHB Personal Financing\/-i (Medical), it can be used to cover a wide range of medical-related expenses like:<\/p>\n