Insurance Companies And Special Covid-19 Coverage: What They’re Offering

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.

Provider Benefits Eligibility Period
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 June 2020
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

Prudential Malaysia

prudential coronavirus special coverage

Special Covid-19 Coverage

  • Special benefits: RM5,000 payout upon diagnosis of Covid-19
  • Eligibility: All in-force individual policies/certificates (including group policies, but excluding group employer-employee policies)
  • Period: 1 February – 30 April 2020

Boost x Prudential Malaysia

Prudential Boost Covid 19

Free Life Insurance With Special Covid-19 Coverage

  • Special benefits:
    • RM5,000 payout upon diagnosis of Covid-19
    • RM1,000 payout upon death due to Covid-19
  • Eligibility: Verified Boost Premium Wallet users who apply for this free coverage, limited to the first 200,000 enrolments, not applicable to existing Prudential customers
  • Period: Enrolment until 30 April 2020

Great Eastern Malaysia

Great Eastern Logo

Financial Assistance Programme For Covid-19

  • Special benefits:
    • RM20,000 payout upon death due to Covid-19
    • Cash assistance of RM200 per day up to 60 days of hospitalisation upon diagnosis of Covid-19 and quarantine in a designated hospital
  • Eligibility: All life assured policyholders (except for compulsory group employee benefits) and their immediate family members including spouse and children aged 18 and below
  • Period: 17 February – 31 December 2020, or until the exhaustion of the RM1 million financial assistance provided

AIA

AIA coronavirus

Extra Coverage For Covid-19

  • Special benefits:
    • RM10,000 payout upon death due to Covid-19
    • Hospitalisation benefit of RM200 per day up to 30 days of hospitalisation upon diagnosis of Covid-19 and quarantine in a designated hospital
  • Eligibility: All AIA Individual Life, Family Takaful, and Flex PA customers
  • Period: Until 30 June 2020

Tokio Marine

Tokio Marine Coronavirus Covid

Covid-19 Extended Medical Coverage

  • Special benefits: RM5,000 payout upon death due to Covid-19
  • Eligibility: All life assured with in-force Tokio Marine policies (except group credit-related policies) and their immediate family members including parents, spouse, and children up to age 25
  • Period: Until 31 March 2020

Manulife

manulife logo

RM1 Million Special Financial Assistance

  • Special benefits:
    • Hospitalisation income support of RM200 per day up to 30 days of hospitalisation upon diagnosis of Covid-19 and quarantine in a designated hospital
    • RM10,000 payout upon death due to Covid-19, with additional RM5,000 if the individual is a medical staff who works in a registered hospital in Malaysia
  • Eligibility: Hospitalisation income support is applicable to the insured; compassionate benefit is offered to insured and immediate family members including parents, spouse, and children up to age 18
  • Period: 26 February – 30 June 2020

Hong Leong Assurance

Complimentary Dual Special Benefit Programme For Covid-19

  • Special benefits:
    • Hospitalisation benefit of RM200 per day up to 30 days of hospitalisation upon diagnosis of Covid-19
    • RM10,000 payout upon death due to Covid-19
  • Eligibility: New and existing customers of individual policies with Hong Leong Assurance medical coverage
  • Period: 28 February – 30 June 2020; benefit to be given out on a first-come, first-served basis out of the RM1 million pledged by Hong Leong Assurance and Hong Leong MSIG Takaful

Etiqa

etiqa logo

Special Novel Coronavirus (Covid-19 Cash Relief)

  • Special benefits: RM5,000 cash relief upon diagnosis of Covid-19
  • Eligibility: Customers insured by Etiqa Life Insurance or Etiqa Family Takaful (excluding group policies)
  • Period: 19 February – 30 June

AXA Affin

Covid-19 Hospital Assistance Programme

  • Special benefits:
    • Hospitalisation waiver assistance (for all AXA Affin medical policyholders)
    • Urgent self-assistance payment of up to 14 days of hospitalisation income benefit (see eligibility below)
    • Family assistance of RM3,000 one-time payment (see eligibility below)
  • Eligibility: 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

National Health Protection Scheme

  • Benefit: Hospitalisation income replacement of RM50 per day for up to 14 days (existing mySalam benefit that covers Covid-19 as well)
  • Eligibility: Registered B40 and M40 Malaysians
  • Period: Ongoing

Government Quarantine Initiative

Muhyiddin

Daily RM100 Aid For Quarantine Period

  • Special Benefit: RM100 aid per day during the quarantine period
  • Eligibility: Individuals without fixed income or salary
  • Period: 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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