Zurich Launch Innovative Medical Rider

Zurich Insurance Malaysia Bhd aims to boost its investment-linked products with the introduction of a new rider insurance, Zurich MegaMed. 

Its chief executive officer, Philip Smith, said the Zurich MegaMed rider would suit its investment-linked products and provide more choices in tailoring their healthcare and life protection needs. 

The new plan is available to consumers from 30 days to 69 years old and can be added on selected Zurich Insurance Malaysia’s investment-linked plans -- Zurich FlexiLife, Zurich FlexiLife Plus and Zurich TrueLady. 

“We are going to see medical costs increasing rapidly in line with natural medical inflation and the current weaknesses of the ringgit,” he told reporters after the launch of Zurich MegaMed in Kuala Lumpur on Tuesday.

Also present were Zurich Insurance Malaysia general manager of life insurance, Mukesh Dhawan, and president of Malaysian Wellness Society, Datuk Dr Rajbans Singh. 

With the medical inflation in Malaysia expected to increase by between 10% and 15% annually, the Zurich MegaMed offers a bonus feature of no lifetime limit up to age 100 and cashless convenience at local hospitals. 

The Zurich MegaMed rider is available in four different plans starting with plan one that offers an annual limit of RM350,000 to a very comprehensive plan four with the highest annual limit of up to RM2.25mil.