PRIHATIN Economic Stimulus Package: 3-Month Premium Deferment For Insurance And Takaful Plans
Jacie Tan
27th March 2020 - 1 min read
Insurance companies will be offering a premium deferment of three months for policyholders whose source of income is affected by the Covid-19 pandemic. Takaful certificate holders who have had their source of income affected will also be able to defer paying their contributions for three months.
The measure was announced by Prime Minister Tan Sri Muhyiddin Yassin as part of the Prihatin Economic Stimulus Package today. Unfortunately, no further details were given on the process of the premium deferment – we will update the article when we receive more information.
According to the Prime Minister, the insurance and takaful industry will also be contributing to the Ministry of Health’s efforts to carry out more widespread testing for the Covid-19 virus. A special fund amounting to RM8 million will be launched to subsidise the cost of Covid-19 testing at private hospitals or laboratories – for up to RM300 for each medical policy/certificate holder that has been directed to undergo testing by the Ministry of Health.
About THE AUTHOR
Jacie Tan
Top Insurance Articles
Top Insurance Articles
How To Claim Income Tax Reliefs For Your Insurance Premiums
There are quite a few types of tax reliefs that you can claim to reduce your chargeable income […]
Government and Private Hospitals in Malaysia: How Much Do They Really Cost?
We keep hearing that government hospitals are cheaper than the private ones, but what’s the price difference really like? Keep reading to find out!
Cancer Treatment In Malaysia: How Much Does It Cost?
Many know the devastating effects of cancer, but few talk about just how expensive cancer treatment costs can be.
The Ultimate Guide to Buying Your First Insurance Plan
Having problems buying your first insurance policy? We’ll set you straight on the know-hows of buying the most suitable insurance policy to suit your needs.
Comments (0)