22nd October 2021 - 3 min read
Touch ‘n Go (TNG) eWallet has introduced WalletSafe, an insurance plan that offers a six-month coverage of up to RM25,000 for any loss of credits stored within the e-wallet. On top of that, you will also benefit from a 10x coverage of your eWallet balance in the unfortunate event of death caused by accidental means and Covid-19.
Specifically, the WalletSafe insurance plan – which is underwritten by AIA General Berhad – offers the following benefits:
|Compensation for any unauthorised transactions in your TNG eWallet or GO+ account* (wholly or partially lost) |
*WalletSafe only covers unauthorised transactions made from the GO+ account, not the capital investment in GO+
|Compensation of 10x your TNG eWallet account balance (eWallet and GO+) in the event of accidental death (within 365 days from the accident)||RM25,000|
|Compensation of 10x your TNG eWallet account balance (eWallet and GO+) in the event of death caused by Covid-19 (within 365 days from diagnosis)||RM25,000|
The FAQ for WalletSafe also clarified that the plan is open only to verified TNG eWallet users, provided they are Malaysians or passport holders who are legally residing in Malaysia, and are aged between 18 to 70 years old. Do note as well that the plan is only applicable within the country, and does not provide worldwide coverage.
If you are eligible and would like to give it a try, the plan is currently priced at a premium of RM1 (inclusive of fees/charges and tax) via a limited-time-only promo. Outside of this promo, WalletSafe can be subscribed for RM6.
The plan will kick into effect as soon as you have completed the payment via your TNG eWallet and AIA receives your application. A confirmation email and WhatsApp message will then be sent to you, containing your certificate number, effective date, and the expiry date of the certificate. You will also receive the e-certificate through the confirmation email. Meanwhile, those who are not eligible for the plan will receive an application rejection email, and the premium paid will be refunded to them.
TNG eWallet further clarified that each TNG eWallet account is only allowed to purchase one WalletSafe plan; you will not be able to purchase the plan for another person. WalletSafe is also not renewable, although you can repurchase it after the end of the coverage.
Finally, TNG eWallet emphasised that the claim process can be done online seamlessly, and that submissions will not require any physical documents.
(Sources: TNG eWallet [1, 2], AIA General Bhd)
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