25 Jun - 2 min read
Boost has launched three new value-for-money micro-insurance and takaful plans under Boost Protect: MozzieProtect, FamilyProtect, and Critical Illness Care. This brings the total number of plans offered on the Boost app to 13 altogether.
MozzieProtect is a dedicated protection plan against dengue and zika, offering a special hospital cash allowance of RM500 and a lump sum payout of RM20,000 in the event of death caused by either disease. The plan costs RM60 for a one-year coverage and is underwritten by Great Eastern Life Assurance (Malaysia) Berhad.
FamilyProtect is a takaful protection plan for families with children, where the person covered can claim up to RM250 in medical expenses due to accidents, hand foot and mouth disease, or food poisoning for their child without any medical underwriting. There is also a payout benefit of RM15,000 in the event of death or permanent disability of the person covered. This plan is underwritten by Great Eastern Takaful Berhad and costs RM95 for one year’s coverage.
Critical Illness Care is for young adults aged between 18-30 years old, covering 45 advanced critical illnesses. The person overed can get up to RM100,000 in lump sum coverage upon diagnosis as well as a death benefit for selected critical illnesses. The plan also comes with a Reboot Function where the sum covered resets to 100% after 12 months from the first diagnosis. Critical Illness Care costs RM500 for one year’s coverage and is underwritten by Great Eastern Takaful Berhad.
As a value-added benefit, the three new plans come with Covid-19 Vaccine Fund Assistance. The fund offers RM200 daily hospital cash allowance for up to 7 days for hospitalisation due to adverse events following immunisation within 14 days after receiving a Covid-19 vaccine, with a lump-sum death-related benefit too.
Besides that, Boost has introduced a new recurring payment feature for several of its microinsurance offerings, allowing users to automatically pay for their coverage plans each month. It helps break down the total coverage plan amount into monthly payments, making it even more affordable for users. This feature is available for BillProtect, CardProtect, HospiCash, Protect Super6, ProtectActive, and SME OwnerProtect. Boost is currently running a campaign involving any of these six micro-insurance/takaful plans, where users will receive 100% cashback for their first month’s premium payment and receive RM4 Lazada cashback. The campaign will run from now until 31 August 2021.
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