KUALA LUMPUR- In recent weeks, the country has witnessed an unprecedented high number of Covid-19 infections, with record daily infections numbering in the hundreds. Amidst the dramatic spike, many Malaysians have been actively seeking a dedicated insurance plan to stay financially protected in the event of contracting the virus.
Answering the call, one enterprising organisation – AXXESS – is offering the AXXESS Covid-19 Protect insurance plan to all Malaysians between the ages of one month and 65 years. This insurance policy is underwritten by AIA General Berhad as of 15 October.
The plan, available for only a limited time, offers policyholders a payout of RM2,000 upon being diagnosed for Covid-19 in Malaysia and hospitalized in the country as a result. Best of all, the plan is valid for a period of three months for a one-time premium of only RM28.50 (inclusive of tax), making it truly affordable.
Not surprisingly, sales of this policy have surged in the past few weeks as Covid-19 cases rages on in Sabah and Kedah. Meanwhile, CMCO takes effect in Selangor, Kuala Lumpur and Putrajaya on 14 October, as these areas are now also classified as red zones.
In the event of the untimely death of the policyholder as a result of Covid-19 or an accident, the
policyholder’s nominee or family will receive an additional RM10,000 payout. As such, AXXESS Covid- 19 Protect offers a total payout of up to RM12,000.
The AXXESS Covid-19 Protect plan is available for purchase online and the process only takes a few minutes. Those who sign up will receive confirmation of their policy as quickly as four days.
“There are no conditions attached to the plan; meaning you don’t need to be an insurance policy holder, telco customer, e-Wallet subscriber or undergo health screening, etc. You only need to subscribe and be covered,” said Y.A.M. Tunku Naquiyuddin Tuanku Ja’afar, Executive Chairman of Shieldcard Holdings – parent company of AXXESS.
“It not only offers Malaysians a payout in the event of contracting Covid-19, but also in the unfortunate event of a death caused by Covid-19 or an accident. What we are offering is a truly unique product which offers great value, yet extremely affordable at only 31 sen per day,” said Richard Devaraj, CEO OF AXXESS.
“Even Malaysians who are currently signed up for an existing medical insurance plan or medical card
can stand to benefit, as the AXXESS Covid-19 Protect plan offers the payout in addition to any other
claims paid by other insurers, which usually only cover hospitalization costs.”
“This is especially beneficial to those who experience a loss of income due to hospitalization as a result of contracting Covid-19, or those who incur additional expenses as a result. Alternatively, they may choose to only receive the payout from the AXXESS plan, without making claims from any other insurance policy, which could affect their premiums,” he explained.
Read more: The Rise of On- Demand Insurance