The Life Insurance Association of Malaysia (LIAM) and its member companies are taking proactive steps in providing additional relief measures for policyholders affected by the economic slowdown due to the Covid-19 pandemic.
The following additional benefits are a few examples of relief measures taken by insurers:
i. RM5,000 Cash Relief for customers who are diagnosed with Covid-19
ii. Cash benefits/allowance for hospitalisation (for example up to RM250 per day up to 30 days of hospitalisation)
iii. Special lump-sum death benefits (ranging from RM5,000-RM20,000 upon death of the insured)
iv. Four insurance companies pledge RM1 million each as part of their financial assistance/support programme for customers affected by Covid-19
Policyholders are advised to check with their respective insurance companies for the additional benefits offered by their insurance company for the Covid-19 outbreak and the terms and conditions of their health insurance policy,” said LIAM.
Life insurers have also introduced various flexibility in premium payments. The flexibility provided vary from company to company, affected policyholders are advised to check with their respective life insurance companies for more details.
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