Great Eastern has launched a Financial Assistance Programme for Covid-19, extended to all life assured policyholders and their immediate family members. Eligible recipients of this programme are entitled to a hospitalisation cash assistance upon diagnosis of Covid-19 and a RM20,000 death benefit for death due to Covid-19.
Interestingly, the programme covers not only those who are the life assured of a Great Eastern policy, but also their spouse and children aged 18 years and below. For example, if you have a Great Eastern life insurance policy in your name, but it’s your spouse who contracts Covid-19, he or she will be entitled to the benefits under the Financial Assistance Programme for Covid-19.
The hospitalisation cash assistance amounts to RM200 per day up to 60 days of hospitalisation, provided upon diagnosis of Covid-19 and quarantine at any one of the Ministry of Health’s designated hospitals. Should death due to the Covid-19 disease occur, a lump sum of RM20,000 per life will be provided under this programme.
The Financial Assistance Programme will run from 17 February to 31 December 2020 or until the exhaustion of the RM1 million fund allocated for it – whichever is earlier. The additional benefits under the programme are payable on top of the benefits of existing Great Eastern policies such as hospital and daily cash allowance benefits.
Great Eastern is the latest in a string of insurers to offer complimentary additional coverage for the Covid-19 virus. Prudential is offering a lump-sum payout of RM5,000 to all its policyholders who are diagnosed with Covid-19, AIA is extending a hospitalisation benefit and RM10,000 death benefit to all its life and personal accident insurance customers, and AXA Affin has also devised a special hospital assistance for its medical insurance policyholders.
To read the terms and conditions of the Financial Assistance Programme for Covid-19 in more detail, please refer to the Great Eastern website.