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Malaysia Health Insurance and H1N1

Posted in Health & Medical, Malaysia Personal Finance, Malaysia Risk Management & Insurance |

Here’s the latest press release from Great Eastern:

PRESS RELEASE
For immediate release

Kuala Lumpur, 19 August 2009 ??Great Eastern Life Assurance (Malaysia) Berhad?? Director and Chief Executive Officer Mr Koh Yaw Hui informed that as a good corporate citizen with a hundred and one years??presence in Malaysia, Great Eastern will cover hospitalization claims made by its policyholders, who have been hospitalized due to influenza A (H1N1).

??his pandemic disease is distressing for our community. We would like to dispel all uncertainties on hospitalization claims by affirming that Great Eastern will compensate our policyholders who have been hospitalized for treatment of influenza A (H1N1),??assured Mr Koh.

Similarly, Mr. Koh in his capacity as a Director of Overseas Assurance Corporation (Malaysia) Berhad (??ACM??, would also like to take the opportunity to assure the policyholders of OACM who have been hospitalized due to influenza A (H1N1), that they will be accorded similar treatment.

Mr Koh urged the public to adhere to the authorities??request to take precautionary measures to prevent further spread of this disease by practising isolation should one feel ill or show symptoms of influenza A (H1N1), to curb further spread of this deadly disease.

Mr. Koh added, ??reat Eastern and OACM have constantly briefed our employees on influenza A (H1N1) in relation to insurance claims. We have also taken the initiative to communicate regularly with our employees and our agency force on this pandemic so that we are able to serve our policyholders on a timely basis.??/blockquote>

Here’s another announcement by Etiqa:

(The Edge, 21st August) KUALA LUMPUR: Etiqa will pay the claims made by its medical and health plans??policyholders should they be hospitalised for treatment for H1N1 influenza, with immediate effect.

Etiqa said on Aug 21 the H1N1 influenza can affect everyone physically and also financially, in terms of the medication and treatment.

Its CEO and director Datuk Aminuddin Md Desa said in this difficult time, it decided to extend the cover of H1N1 influenza to its medical and health plans and ensure that claims are paid to policyholders hospitalized and treated for the H1N1 influenza.

Etiqa is extending the cover for H1N1 influenza treatment and hospitalisation to its group and individual medical and health plans. This H1N1 coverage benefit is extended to all current policyholders of Etiqa?? medical and health plans and any new policyholders who will be joining the plan from now on.

Here’s another press release from Life Insurance Association of Malaysia (LIAM), the Insurance Industry’s self-regulatory body:

Life Insurance Coverage for Influenza A(H1N1) – Press Release

Kuala Lumpur, 21 August 2009: The Life Insurance Association of Malaysia (LIAM) has confirmed that death due to the Influenza A(H1N1) will be payable. In addition, all the 16 life insurance companies under LIAM will also be paying claims arising from hospitalization due to Influenza A(H1N1). Even though a majority of the medical policies carry exclusion on communicable diseases requiring quarantine by law, life insurers are responding to an immediate need of the nation in light of the increasing number of people who have been infected.

Life insurance companies will nonetheless continue to monitor the Influenza A(H1N1) situation. In the event of any review of this decision on life insurance coverage, the policyholders will be duly informed.

I should think that all insurers that provide Hospitalisation benefits should be made mandatory by Bank Negara to extend their coverage to include H1N1.

I have not read about PIAM’s take on H1N1 claims, but some of the travel insurance packages offered by General Insurers are already providing limited benefits to H1N1-related compensations and expenses.





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  • http://www.reanaclaire.blogspot.com/ claire

    Hi there.. greetings from IPOH, came here via Eugene's introduction about u.. ok, i go straight to the point..just wanna hear yr opinion…
    I tot of buying some insurance for my sons and lately AM assurance is offering this flexi plan..whereby.. 1st year 5,000, followed by 2K minimum for 9 years.. so after the 10th year, i can stop and start receiving dividen for 8-10% of capital invested for the next 35 years…(if i m not mistaken)… in between, if i want to stop, it can be done too after the first few years.. OK, this is option 1

    2nd option is… pay 5K first year and subquently 2K yearly for the next 21 years and for every 3rd year, they will give me back 2,500 as dividen… till (i-dont-know-when) i didnt ask yet…

    so between these 2 options, which is better? oh, do i need to pay any consultation fees to u? :) besides this, do u know of any better plans?

    sorry to impose..

  • http://www.meshio.com yowchuan

    Claire, just dropped you an email!

  • http://www.pawiblog.com sapawi

    Hi. I'm from Kuala Lumpur. It seems that this H1N1 is getting worse in our country Malaysia.

    The recent announcements by the life insurance companies shows that they are really responsible and care about their policyholders.

    Personally, I think this news also will attract more and more new people who want to be covered under that insurance policy especially those who never have been under any insurance policy before.

    So this I think the win-win situation for Malaysian people and the insurance companies.

    However, money is not everything but it reduces a bit the burden of our family members if we die because of this flu (hope not).

    Lastly I hope Malaysia will be free from this flu soon. Let's pray and put the effort on it.

  • Mohdazahari

    OVERVIEW OF PRU FLEXI MED
    1. What is PRUflexi med? (updated 20/02/2012)
    PRUflexi med is a comprehensive medical plan that allows customers to customize the benefits to their individual needs and budget. It is a regular premium investment-linked medical rider that reimburses medical expenses incurred in the event of hospitalization that comes with the following features:
    • 112 combinations to choose from – PRUflexi med gives you the flexibility to choose your preferred level of coverage. Pick from 7 Hospital Daily Room & Board Allowance and 16 Annual Limits options, then create a plan to suit your needs and budget!
    • Hospital Daily Room & Board Allowance – If you are staying in a room & board that is lower than your chosen Hospital Daily Room & Board Allowance, we will pay you the difference in cash as an allowance. What’s more, this benefit will not reduce your Annual Limit!
    • No more BILL SHOCK! – You can choose the ZERO deductible option and need not share out on eligible cost when you are hospitalized! You can also opt for a PRUflexi med plan with a minimal fixed deductible of RM300 for lower premium.
    • High Lifetime Limit at 20 x Annual Limit – PRUflexi med lets you claim up to 20 times your Annual Limit per lifetime.
    2. What are the basic plans that can attach PRUflexi med? (updated 20/02/2012)
    PRUflexi med is attachable as a new medical plan or second medical plan on PRUlink one and
    PRUlife ready.
    Attachment to previous versions of investment link plans (4PAA, 5PAP, 6PAP, 7PAP) will be available at a later date, which is to be advised. The rider is currently not available in juvenile plans, traditional policies, ULP and bancassurance policies until further notice.
    3. How do we select PRUflexi med benefits? (updated 20/02/2012)
    Customizing PRUflexi med to your customer’s need is as easy as 1, 2, 3 & 4!
    Step 1: Decide on your Hospital Daily Room & Board Allowance amount.
    Choose the amount of Hospital Daily Room & Board Allowance to cover for your accommodation in a hospital.
    Step 2: Decide on your Annual Limit amount.
    Set the amount of Annual Limit which you will be covered for every year. This is the maximum amount of total costs of eligible benefits (excluding the cost of daily room &
    board) that will be paid by Prudential every year for your hospitalisation and surgery bills.
    Step 3: Decide on your Deductible amount.
    Choose the amount of deductible that suits your preference – zero or RM300 deductible.
    Step 4: Decide on your benefit term.
    Choose the age to which you would like to be covered until from a choice of 70, 80, 90 or 100 years old.

    Interested? Kindly email me at mohdazahari@prupartner.com.my