Page 28 - LIAM Annual Report 2020

ANNUAL REPORT 2020
26
26 ANNUAL REPORT 2020

ADDITIONAL RELIEF MEASURES BY INDIVIDUAL LIFE INSURERS
In addition to industry-wide efforts, individual life insurers have also rolled out various options for
financial support to aid policyholders during the year under review.
These include:

i. RM5,000 Cash Relief for customers who are diagnosed with COVID-19;
ii. Cash benefits/allowance for hospitalization (for example, up to RM250 per day and up to 30
days of hospitalization);
iii. Special lump-sum death benefits (ranging from RM5,000-20,000 upon death of the insured);

iv. Four insurance companies pledged RM1 million each as part of their financial assistance/
support programme for customers affected by COVID-19.
With these relief measures, policyholders affected by COVID-19 were able to continue with their
livelihoods during these trying times and were given much-needed assistance to cope with the
immediate health effects of the virus and its economic consequences.

Life Insurance Association of Malaysia