The Life Insurance coverage Affiliation of Malaysia (LIAM) and its member firms are taking proactive steps in offering further reduction measures for policyholders who’re impacted by the financial slowdown as a consequence of Covid-19. Life insurance coverage – Malaysia.
The affiliation stated the extra reduction measures embody RM5,000 money reduction for purchasers who’re recognized with Covid-19, money advantages/allowance for hospitalisation and particular lump-sum dying advantages from RM5,000-20,000 upon dying of the insured.
“Policyholders are suggested to examine with their respective insurance coverage firms for the extra advantages supplied by their insurance coverage firm for Covid-19 and the phrases and situations of their medical insurance coverage,” LIAM president Loh Guat Lan stated in a press release right now.
To make sure that policyholders proceed to obtain life insurance coverage safety, life insurance coverage firms have additionally launched numerous flexibilities in premium funds to help affected policyholders throughout this making an attempt time.
Because the flexibilities offered for range from firm to firm, affected policyholders are suggested to examine with their respective life insurance coverage firms for extra particulars.
Loh stated the extra reduction measures are well timed to assist these instantly impacted by the disaster, together with healthcare employees, sufferers and policyholders by a brief lack of revenue or jobs.
“The unprecedented state of affairs calls for that we proceed to reply thoughtfully and decisively because the trade is anxious over this outbreak and want to do extra for the rakyat,” she added. Life insurance coverage – Malaysia.