SUN Life Malaysia has established a RM1 mil Covid-19 Relief Fund to provide direct support to its clients during this unprecedented pandemic.
Its chief executive officer and country head/president Raymond Lew said the relief fund offers extra benefits to help those diagnosed with Covid-19 and also their family members.
“We also want to support those on the front line keeping Malaysians safe and healthy through a special double death benefit for clients who contributed in the essential service industries during the movement control order,” he said in a statement today.
The relief fund benefit includes a RM5,000 special cash benefit payment to life assured / person covered upon diagnosis of Covid-19, RM7,500 special compassionate benefit payment upon death of immediate family members due to Covid-19, RM7,500 special death benefit payment upon death of life assured / person covered due to Covid-19; or RM15,000 special death benefit payment upon death due to Covid-19 of life assured / person covered who contributed in the selected essential service industries during the movement control order.
“This is applicable for both existing and new clients, and available from March18 until June 30, 2020 or until the fund has been fully utilised, whichever is earlier,” he said.
Lew added that with the recent escalation of the Covid-19 situation, the insurance provider aims to address the immediate concerns faced by affected clients and alleviate their families’ financial stress.
“As a testament to our commitment to easing the financial burden of our policyholders, we have put in place a robust claims process to ensure they are protected effectively and efficiently during this time of need,” he said.
Additionally, Sun Life Malaysia is also participating in an industry special relief fund for all insurance and takaful policyholders/participants.
The industry-wide relief fund seeks to encourage and lower the cost barrier for Covid-19 testing at private hospitals and medical facilities, by providing an RM300 benefit upon testing.
“Following Bank Negara Malaysia’s recent announcement, Sun Life Malaysia will also be extending the grace period on all regular premium/contributions for affected clients for up to 90 days. Policyholders may apply for the payment deferment by Dec 31, 2020,” he said. — March 30, 2020, Bernama
