The Life Insurance coverage Affiliation of Malaysia (LIAM) and its member corporations are extending extra aid measures for policyholders who’re impacted by the financial slowdown because of the COVID-19 pandemic within the nation.
Policyholders are suggested to examine with their respective
insurance coverage corporations for the extra advantages provided for the COVID-19
outbreak, says Ms Loh Guat Lan, president of LIAM.
A number of examples of aid measures taken by insurers are
listed under:
- MYR5,000 money aid for purchasers who’re recognized with COVID-19
- Money advantages/allowance for hospitalisation (e.g as much as MYR250 per day, as much as 30 days of hospitalisation)
- Particular lump-sum demise advantages (starting from MYR5,000-MYR20,000 upon demise of the insured)
- 4 insurance coverage corporations pledge MYR1 million every as a part of their help programme for purchasers affected by the coronavirus
That apart, to make sure policyholders proceed to obtain life
insurance coverage safety, life insurance coverage corporations have additionally launched varied flexibilities
in premium funds to help affected policyholders throughout this difficult
time. Policyholders are suggested to examine with their respective life insurance coverage
corporations for extra particulars.
The extra aid measures are well timed to help these
impacted by the disaster together with healthcare employees, sufferers, and
policyholders affected by momentary lack of revenue or jobs.
“We’re within the
individuals enterprise and we maintain our policyholders’ welfare. In view that
the COVID-19 is a really severe and imminent risk to public well being, we consider
that the rapid response by the business to supply extra protection will
go a good distance in assuaging the influence of the COVID-19 outbreak to the
shoppers,” mentioned Ms Loh.
The coronavirus
pandemic continues to pose a severe risk to public well being and the financial system as
the Authorities’s Motion Management Order is in impact to curb its unfold.
LIAM Member Firms (consult with web site www.liam.org.my)
- AIA Bhd.
- Allianz Life Insurance coverage Malaysia Berhad
- AmMetLife Insurance coverage Berhad
- AXA AFFIN Life Insurance coverage Berhad
- Etiqa Life Insurance coverage Berhad
- Gibraltar BSN Life Berhad
- Nice Jap Life Assurance (M) Berhad
- Hannover Rueck SE, Malaysian Department (reinsurer)
- Hong Leong Assurance Berhad
- Manulife Insurance coverage Berhad
- Malaysian Life Reinsurance Group Berhad(reinsurer)
- MCIS Insurance coverage Berhad
- Prudential Assurance Malaysia Berhad
- Solar Life Malaysia Assurance Berhad
- Tokio Marine Life Insurance coverage Malaysia Bhd.
- Zurich Life Insurance coverage Malaysia Berhad
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