6th April 2020 - 6 min read
When the first few Covid-19 cases cropped up in Malaysia, all insurance and takaful operators under the Life Insurance Association of Malaysia (LIAM) stated that they would indeed provide hospitalisation and treatment coverage for Covid-19. However, some insurance companies have gone one step further and are offering additional complimentary coverage specific to Covid-19 as well.
From lump-sum payouts upon diagnosis and daily hospitalisation allowances to death benefits, you can check what extra coverage your insurance provider is offering for cases of Covid-19 here.
|Prudential Malaysia||RM5,000 payout upon diagnosis||In-force individual policies/certificates||1 February – 30 April 2020|
|Boost x Prudential Malaysia||· RM5,000 payout upon diagnosis
· RM1,000 payout upon death
|Verified Boost Premium Wallet users who apply||Enrolment until 30 April 2020, limited to first 200,000 enrolments|
|Great Eastern Malaysia||· RM20,000 payout upon death
· Cash assistance of RM200 per day up to 60 days of hospitalisation
|Life assured policyholders and their immediate family members
|17 February – 31 December 2020, or until the exhaustion of the RM1 million financial assistance provided|
|AIA||· RM10,000 payout upon death
· Hospitalisation benefit of RM200 per day up to 30 days of hospitalisation
|Individual Life, Family Takaful, and Flex PA customers||Until 30 June 2020|
|Tokio Marine||RM5,000 payout upon death due to Covid-19||Life assured policyholders and immediate family members||Until 31 March 2020
|Manulife||· Hospitalisation income support of RM200 per day up to 30 days of hospitalisation
· RM10,000 payout upon death (RM15,000 for registered medical staff)
|· Hospitalisation income support applicable to the insured
· Compassionate benefit applicable to the insured and immediate family members
|26 February – 30 September 2020 (updated)|
|Hong Leong Assurance||· Hospitalisation benefit of RM200 per day up to 30 days of hospitalisation
· RM10,000 payout upon death due to Covid-19
|New and existing customers of individual policies with Hong Leong Assurance medical coverage||28 February – 30 June 2020|
|Etiqa||RM5,000 cash relief upon diagnosis||Etiqa Life Insurance and Etiqa Family Takaful customers||19 February – 30 June 2020|
|AXA Affin||· Hospitalisation waiver assistance (for all AXA Affin medical policyholders)
· Up to 14 days of hospitalisation income benefit
· Family assistance of RM3,000
|AXA Affin medical policyholders who purchase a Hospitalisation Income Benefit Rider (HIB) during the application period
|Application period: 1 February – 31 March 2020
Cover period: 1 February – 30 June 2020
|mySalam||Hospitalisation income replacement of RM50 per day for up to 14 days
|Registered B40 and M40 Malaysians||Ongoing|
|Government quarantine initiative||RM100 aid per day during the quarantine period||Individuals without fixed income or salary||Ongoing|
So, if you have a policy with one of the insurers above, check to see whether the additional Covid-19 coverage offered applies to you. After all, it’s always good to be aware of the benefits and coverage available to you under your insurance policy, whether it’s a global pandemic or not.
You can find out more about Covid-19 and your insurance policies in this article here. And if you’re on the lookout for a new life insurance policy or medical card, you can find all the information you need in one place at RinggitPlus! Need medical card urgently due to COVID-19? The three medical insurance offers COVID-19 coverage, with an easy and fast online application.
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