Boost Introduces Boost Protect, Ventures Into Digital Insurance Services

boost mohd khairil
(Image: The Malaysian Reserve)

boost protect

E-wallet service provider Boost has introduced a range of micro-insurance and takaful products under its new feature, Boost Protect.

Underwritten by Great Eastern and powered by Aspirasi, the insurance products are exclusively available for Boost users. As many as seven types of coverage are currently available:

Micro-insurance/
Takaful products
Payment Coverage period Coverage provided
BillProtect RM30 6 months – Reimbursement for eligible utility bills of up to RM1,000 if hospitalised for more than 4 days due to an accident

– Payout of RM10,000 in the event of permanent disability or accidental death

CardProtect RM10 6 months – Credit card bills protection against unexpected events that cause disability or death

– Payout of RM5,000 in the event of permanent disability or death

– Payout of RM10,000 upon death due to an accident

HospiCash RM60 6 months – RM100 daily cash allowance during hospitalisation
Protect Super6 RM39 6 months – Payout of RM12,500 in the event of major head trauma or coma

– Payout of RM37,500 upon accidental death of various causes

– Bereavement benefit of RM5,000 in the event of an accidental death

ProtectActive RM6.25 1 month – Payout of RM5,000 upon critical illness or accidental permanent disability due to sports

– Payout of RM25,000 in the event of death due to specific sports

– Payout of RM500 for medical costs due to accident from specific sports

ScreenProtect RM100 1 year – Payout of up to RM750 for repair or replacement of screen due to accidental damage

– Payout of RM5,000 in the event of permanent disability or accidental accidental death

SME OwnerProtect RM45 1 year – Reimbursement for emergency expenses relief of up to RM1,000 if hospitalised for more than 4 days due to an accident

– Payout of RM10,000 in the event of permanent disability or accidental death

To sweeten the deal, Boost is also complementing all Boost Protect products with an additional Covid-19 Assist coverage. Under this extra protection, you will be entitled to RM200 daily hospitalisation cash per day, up to 60 days, if you are diagnosed with Covid-19. You will also get a death benefit of RM20,000 upon demise due to the coronavirus.

To view or purchase these products, simply tap on the “Insurance” tile in your Boost app and proceed from there. You may be prompted to answer some health-related questions for certain products, and will be required to fill in your personal/contact details to complete your purchases.

boost mohd khairil abdullah
(Image: The Star)

“Following the pandemic, Malaysians are placing high importance on protecting themselves for the future as awareness of health and overall wellbeing has been heightened. We endeavour to #KitaBoostKita by providing users protection and peace of mind while they continue to live life or do business amid the pandemic at a very low cost where users can now enjoy bit-sized protection for extra-large coverage that caters to their various needs,” said the chief executive officer of Boost, Mohd Khairil Abdullah.

Boost Protect had actually been soft launched earlier, piggybacking on Boost’s role as an e-wallet partner in the government’s RM50 ePENJANA credit initiative. The insurance products had been introduced through an RM5 cashback bonus, offered as one of Boost’s #KasiTambah extra perks for the ePENJANA initiative.

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