Since the beginning of the COVID-19 spike in Malaysia since the year 2020 and now as the number of positive cases of COVID-19 currently remains at a range of 5,000 cases daily with no decreasing sign, medical insurance has never been more of a necessity to aid the people during these trying times. Almost all insurance services have come up with complimentary packages and programs for their policyholders that cater to COVID-19 specifically.
Here we break down all the current active insurance policies that are providing coverage for COVID-19 patients.
With hospitals and quarantine centres currently running at their full capacities, AIA’s Free COVID-19 Diagnosis Cover comes at an appropriate time as more people are placed under home quarantine.
This special COVID-19 coverage provides a RM1,000 cash relief to support customers diagnosed with COVID-19 and cannot continue working due to quarantine requirements, including home quarantine.
Additionally, it also covers death due to COVID-19 – where a lump sum of RM5,000 (for new customer) / RM10,000 (for AIA’s existing customer) will be paid.
The cover is offered at no extra cost to AIA customers who have new life insurance/family takaful/Flex PA plans with AIA which takes effect between 1 June and 30 June 2021.
Eligible customers will get to enjoy this free cover until 30 September 2021, or when the total claims limit reaches RM1.5 million, whichever comes first.
For more information please visit: https://www.aia.com.my/en/about-aia/media-centre/press-releases/2021/AIA-Malaysia-offers-two-free-COVID-19-coverage-to-help-ease-Malaysians-concerns.html
Prudential has announced the renewal of the RM2,000,000 fund for the Special COVID-19 Coverage for Prudential Malaysia customers.
The coverage includes RM1,000 for hospitalisation at any of the Ministry of Health Malaysia (MOH) designated hospitals within the coverage period due to COVID-19 and a RM10,000 lump sum payment upon death due to COVID-19 within the coverage period.
The Special COVID-19 coverage is eligible for Prudential customers.
The coverage runs from 1 January 2021 to 31 December 2021 or until the total pay-out under this special coverage reaches its claims limit, whichever is earlier.
For more information please visit: https://www.prudential.com.my/en/our-company-newsroom/announcements/special-covid-19-coverage/
Great Eastern Life will provide reimbursement on goodwill basis for hospitalisation claims due to COVID-19 during the Coverage Period. The eligible life assured has received active treatment as a Category 3, 4 or 5 COVID-19 patient a Ministry of Health (MOH) designated private hospital in Malaysia.
The reimbursement is per individual basis and each eligible life assured is entitled to only one claim subject to the following limits:
- Up to RM5,000 for Category 3 COVID-19 patient, or
- Up to RM15,000 for Category 4 COVID-19 patient, or
- Up to RM25,000 for Category 5 COVID-19 patient.
The insurance claim is also subject to a total claims limit of RM1 million.
This programme is complimentary to all life assured of Great Eastern Life who is a registered e-Connect user and have any in-force primary medical plan(s) with exclusion on communicable disease requiring quarantine by law (except for compulsory Group Employee Benefits).
The hospital admission date applies from 27 March 2021 to 30 September 2021, both dates inclusive, or upon reaching the maximum claims limit of RM1 million, whichever is earlier.
For more information please visit: https://www.greateasternlife.com/my/en/personal-insurance/covid-19-assistance-programme.html
Hong Leong Assurance
Hong Leong Assurance & Hong Leong MSIG Takaful have jointly pledged RM1 million to this programme for life assured that falls under the categories below should they be infected with COVID-19. This benefit is given to their customers at no extra cost.
The programme offers RM200 per day, up to 30 days of hospitalisation upon confirmed COVID-19 diagnosis and placed under quarantine or admitted to any Ministry of Health’s (MOH) designated hospitals, quarantine centres and private hospitals provided the medical coverage carries an exclusion on communicable disease requiring quarantine by law.
If death occurs due to COVID-19 regardless if there are any hospital admission before death, an additional lump sum payment of RM10,000 will be paid to the life assured’s family.
Reimbursement of medical bills is also offered according to the COVID-19 treatment category for patients admitted to designated private hospitals in Malaysia upon being referred by MOH provided the medical coverage carries an exclusion on communicable disease requiring quarantine by law.
Hong Leong Assurance & Hong Leong MSIG Takaful life assured of individual policy with medical coverage and also life assured who have recently purchased a medical plan during the duration of the programme, not being subjected to the waiting period.
The programme is offered from 28 February 2020 until 30 September 2021 or upon exhaustion of the RM1 million fund, whichever is earlier.
For more information please visit: https://www.hla.com.my/CMS/Covid.aspx?Product=5393
Sun Life Malaysia
Under Sun Life Malaysia’s FMCO 3.0 Client Wellness Campaign, they will provide the following extra coverage on COVID-19 related infection for any new purchase of Insurance/Takaful Plan (Regular Premium/Contribution):
– RM5,000 death coverage due to COVID-19
– RM500 daily hospital income on post-COVID-19 vaccination complications
– Up to RM1,800 COVID-19 Care Fund (one-time disbursement)
All Sun Life Malaysia’s clients are eligible for the FMCO 3.0 Client Wellness Campaign.
The campaign will run from 21 June 2021 to 31 July 2021.
For more information please visit: https://www.sunlifemalaysia.com/campaigns/fmcoclientwellnesscampaign/
Allianz is offering a Complimentary Death Benefit upon the death of an eligible participant due to COVID-19 during the coverage validity period for their complimentary COVID-19 coverage:
Eligible non-Allianz customers will receive a lump sum of RM8,000 which may be claimed by the personal legal representative or any one of the immediate family members of the eligible participant.
Meanwhile, eligible Allianz customers will receive a lump sum of RM20,000 per family which may be claimed by the personal legal representative or any one of the immediate family members of the eligible participant.
The Complimentary Death Benefit is eligible for participants who have registered for the Allianz We Care Community on and before 30 June 2021 and also eligible for individual policyholders who had purchased any personal insurance products of the Allianz Life or Allianz General issued from 1 July 2021 until 31 August 2021 and have provided their NRIC number, valid mobile number and email contact details.
The coverage validity period for Allianz’s Complimentary Death Benefit will commence 14 days after the eligible participant’s campaign registration date onwards until 31 December 2021; or the date when the total claims payable under this Complimentary Death Benefit reaches RM1,000,000.00, whichever is earlier.
For more information please visit: https://www.allianz.com.my/we-care-complimentarydeathbenefit
Read more: Insurance and takaful industry call on policy holders to submit COVID-19 test claims by July 15
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