KUALA LUMPUR, 12 May 2020 – AIA Malaysia has announced three (3) special insurance and takaful offers which are aimed to help cushion the ill effects of COVID-19 whilst ensuring Malaysians continue to be adequately protected during this challenging time.
Premium/Contribution waiver for first three (3) months
In a move never seen before in the industry, AIA has set out to waive premiums/contributions for the first three (3) months for customers who purchase A-Life ProtectTerm or participate in A-Life Kasih Famili – two of its affordable, basic life insurance and Family Takaful plans – in the month of May.
This means customers would still be able to enjoy the benefits and coverage under these plans throughout the period that the premiums/contributions are waived.
On top of that, they will also receive free additional hospitalisation and death coverage for COVID-19 as well as complimentary medical advice on COVID-19 until 30 September and 30 June respectively.
The offer is open to new customers who sign-up for any of these plans between 6 May and 31 May 2020 or until the first 50,000 policies/certificates (combined) are taken up. Terms and conditions apply.
50% additional death coverage for COVID-19 for free
AIA is the first insurance and takaful provider in the industry to offer an additional 50% death coverage due to COVID-19 at no cost to its customers.
This means, if an insured/person covered passes away due to COVID-19, an additional 50% of the basic amount covered will be paid to his/her beneficiary, up to a maximum of RM100,000 or RM250,000 per life depending on the plan.
The additional death cover, which is provided until 31 December 2020, is offered to all new customers who sign-up for AIA’s selected conventional life insurance, takaful and bancassurance plans between 6 May and 31 May 2020.
This includes the newly launched A-Enrich Wealth insurance savings plan that not only provides a 20-year coverage with only 10 years of premium payments, but also rewards customers for practising good financial habits.
Free additional COVID-19 coverage period extended
AIA has earlier in February announced that it would provide additional insurance and takaful coverage for COVID-19 to its customers at no cost.
The additional coverage comes with a hospitalisation benefit of RM200 per day up to 30 days of hospitalisation if the insured/person covered is diagnosed with COVID-19 and kept in quarantine at any of Ministry of Health Malaysia’s designated hospitals. And if the individual passes away due to COVID-19, an additional lump sum of RM10,000 will be paid to his/her beneficiary.
This free additional coverage which is originally to be available until 30 June 2020 has now been extended to 30 September 2020, in view of the ongoing pandemic.
For full details on these special offers, please visit their website.
Read more: 8 Lifehacks to Change Your WFH Experience