COVID-19 Insurance Coverage in Malaysia 2020

Various policy waivers, hospitalisation benefits and option for premium deferment when diagnosed with COVID-19 virus

COVID-19 Medical Insurance Coverage and Additional Benefits

COVID-19 is a newly discovered virus that causes respiratory illness. This virus spreads primarily through contact with an infected person when they cough or sneeze.

If you have been in contact with a person who has tested positive for the virus, directly or indirectly, make sure you follow these preventive measures:

  • Practice self-quarantine,
  • Wash your hands regularly for 20 seconds with soap and water or use a hand-sanitizer, and 
  • Make sure you cover your mouth and nose to prevent potential spread of the virus to others.

A person infected with coronavirus will exhibit symptoms such as cough, fever, tiredness and difficulty breathing. 

If you experience any of these symptoms, bring yourself to the hospital for screening and proper treatment.

Please find the list of hospitals that are approved for screening and admission of COVID-19 cases here.

Do medical insurances provide COVID-19 coverage?

Yes, most medical insurance provide coverage for COVID-19. Under these medical insurance, you may receive COVID-19 coverage upon diagnosis, such as cash relief, hospital income benefit and various policy waivers (e.g. no waiting period, no co-payment, exclusion quarantine by law).

However, you will need to check the terms & benefits for each medical insurance plan as they differ across different insurers and products (E.g. ManuEz-Med waives the 30 day waiting period for COVID-19 cases, but this is not waived for other insurers).

That’s not all, for a medical card rider that is attached to a life insurance policy, the insured person’s loved ones will receive extra benefits upon the insured person's demise due to COVID-19 virus.

You are advised to get in touch with your respective insurance/Takaful providers for their additional benefits packages and flexibilities in the premium payments.

I’m receiving treatment for COVID-19, what happens if I cannot pay my premiums?

Besides receiving additional financial relief, you will also be given an option to defer on your life insurance/family Takaful premium payment for 90 days without affecting the policy coverage.

This is an option to the policyholders who are directly affected by COVID-19. You may apply for the deferment of premium payment from 1 April to 31 December 2020.

What can I expect from this deferment on the insurance premium payment?

  1. You must contact your respective insurers for further details on eligibility, and terms and conditions
  2. The grace period applies to policies with premiums due from 18 March to 31 December 2020
  3. The deferment is for 90 days (or 3 months) from the last premium due date
  4. Policies with outstanding premium amounts or has lapsed are not eligible for the deferment
  5. A 90-day no-lapse guarantee will be granted to investment-linked policies with insufficient cash value