18th February 2022 - 3 min read
AIA Malaysia has joined hands with optical retailer Focus Point to introduce the Focus Point Optical Protection Plan (OPP), the first of its kind within the country. It offers coverage of up to RM20,000 for new glasses that you purchase from Focus Point for one year, with the option to get an extended warranty for a second year.
According to the FAQ, the Focus Point OPP will cover the cost of repair or replacement in the event of accidental or mechanical damage to the frame and/or lenses of your glasses – depending on which year of coverage you’re in. Specifically:
|Benefits||Details||Coverage year||Number of claims allowed|
|Accidental damage to frames or lenses||Repair due to accidental damage of insured glasses, or replace if beyond economical repair||First year only||One-time claim only|
|Mechanical defects to frames and lenses||Repair due to mechanical, electrical, or electronic breakdown of insured glasses, or replace if beyond economical repair||Second year only (under extended warranty)||One-time claim only|
Note that this policy is only applicable to newly purchased pairs of glasses (not for replacement glasses), and each purchase must meet a minimum requirement of RM500 to qualify for it. This purchase price will then serve as the coverage limit allowed to you (after any discount or promotion). So if you were to buy a pair of glasses that costs RM700, then your coverage limit will also be set at RM700. Meanwhile, the maximum sum insured is capped at RM20,000, even if you were to purchase a pair of eyewear that costs beyond RM20,000.
Do also be aware that if you take up the extended warranty for a two-year protection, the coverage limit is not refreshed annually; the extended warranty cover for the second year will run on the remaining limit that you still have after the first year of coverage. To illustrate, if you have a coverage limit of RM700, and you’ve made an accidental damage claim of RM300 in the first year, then your extended warranty cover will only have another RM400 to work with.
Aside from that, AIA also clarified that the Focus Point OPP only applies to prescription glasses, and excludes the purchase of sunglasses, contact lenses, as well as safety and swimming goggles. Some key exclusions in the policy that you should take note of as well include damage incurred as a result of sports activities, and loss or damage resulting from fire or flood (with the exception of accidental damage).
As for the plan’s premium, it will be calculated based on 3.71% of the actual purchase price of your eyewear (inclusive of the sales and service tax).
If you’d like to find out more about the Focus Point OPP, you can visit any of the 30 participating Focus Point outlets that are currently offering the plan as part of the pilot launch. The remaining Focus Point outlets will also begin to offer the plan in April 2022.
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