The Awareness Level on Financing Long Term Care Cost Among Rural-Urban and Marital Status in Malaysia

 
 
 
  • Abstract
  • Keywords
  • References
  • PDF
  • Abstract


    The increase in the number of older populations has raised concerns globally.  This demographic changes is due to the increase in life expectancy and declines in fertility as well as mortality rates.  Malaysia is also currently experiencing the demographic changes and these changes leads to concerns on the uncertaintiness of future family care and the need for long-term care services.  Therefore, this study investigates on the level of awareness on financing long term care cost between rural and urban residential area and marital status amomg respondents in Malaysia. 452 responds were analysed using multiple linear regiression model to identify the variables that influenced the level of acceptance and awareness towards long-term care cost.  Findings show that dependency towards retirement income is significant from urban-rural residents and among single respondents. Health status is also significant for both rural-urban and marital status. However, literacy towards the long term care cost is significant among respondents residing in urban areas only and also married couples. The findings are beneficial and relevant to demonstrate on the importance of financial planning to fund for future long-term care costs.

     


  • Keywords


    Ageing population awareness; Financing long-term care cost; Marital status; Urban and rural.

  • References


      [1] Department of Statistics Malaysia. (2018). Population Quick Info. http://pqi.stats.gov.my/searchBI.php.

      [2] EPF. (2008). Employees Provident Fund Annual Report. Malaysia: Employees Provident Fund.

      [3] Othman, H. (2012). Long Term Care: Managing Expected Cost on Society and Experience Worldwide. Actuarial Partners Report. http://www.actuarialpartners.com/wpcontent/uploads/2012/06/SSS_04_LTC-how-to-manage-its-expected-cost-on-society-experience-worldwide_Hamadah.pdf.

      [4] The Star. (2011). Newspaper report. http://biz.thestar.com.my/news/story.asp?file=/2011/7/23/business/9126218l.

      [5] 3age. (2015). Need for day care and homes for elderly. http://3age.com.my/2015/02/06/need-day-care-homes-elderly/.

      [6] Hamid, T. A., Masud, J., Ibrahim, R., Zakaria, N. S., Muhammad Arif, A. M., Seidelson, L. S., Tyng, C. Sen. (2017). Kajian Kemudahan dan Perkhidmatan bagi Menepati Keperluan Warga Emas Menjelang 2030. Report for Social Welfare Department of Malaysia.

      [7] Bond, J., Peace, S., Dittmann-Kohli, F., & Gerben J. Westerhof. (2007). Ageing in Society: European Perspectives on Gerontology. London: SAGE Publications.

      [8] Ong, F. S. (2002). “Ageing in Malaysia: A Review of National Policies and Programmes” (Chapter 4). In R. Phillips and C.M. Chan (2002), Ageing and Long Term Care: National Policies in the Asia-Pacific. Institute of Southeast Asian Studies.

      [9] Swiss Re. (2012). Health Protection Gap in the Asia-Pacific region will hit USD197 billion in 2020. Hong Kong. http://www.swissre.com/media/news_releases/nr_20121128_health_protection_gap_asia_pacific.html.

      [10] Omer Oguzturk. (2008). Differences in Quality of Life in Rural and Urban Populations. Clin Invest Med 31 (6): E346-E350.


 

View

Download

Article ID: 21359
 
DOI: 10.14419/ijet.v7i4.15.21359




Copyright © 2012-2015 Science Publishing Corporation Inc. All rights reserved.