Malaysian life insurance companies implement relief measures to assist flood victims
LIAM member companies are in unison to alleviate the hardship caused by the recent flood catastrophe in Kedah and Penang.
Kuala Lumpur, 13 November 2017 – LIAM today announced flood relief measures which will be undertaken by life insurance companies in Malaysia to alleviate the hardship caused by the recent flood catastrophe in Kedah and Penang.
LIAM President, Mr Toi See Jong, said that all life insurance companies are very concerned and we understand the suffering and loss that the flood victims are experiencing.
Among the relief measures that the respective companies are implementing to further ease the burden of the flood victims include:
- Restructuring of premium paying modes, from annual to monthly basis;
- Extending the grace period for payment of premiums;
- Reducing or waiving the interest charges for policy loan and APL.
- Waiver of printing cost for policy/medical card replacement among others
- Some member companies of LIAM are also making efforts to give financial contribution and benefits-in-kind.
LIAM would like to extend our sympathies to the flood victims. Our hearts and prayers go out to everyone affected by the floods and we pray for their safety wherever they are.
Policyholders and their family members can contact the respective life insurance companies directly or the Life Insurance Association of Malaysia should they need further assistance.
Life Insurance Association of Malaysia
Telephone: 03-26916628/03-26916168
Fax : 03-26917978 Email : liaminfo@liam.org.my
LIAM Member of Companies (refer to website www.liam.org.my)
1. AIA Bhd.
2. Allianz Life Insurance Malaysia Berhad
3. AmMetLife Insurance Berhad
4. AXA AFFIN Life Insurance Berhad
5. Etiqa Insurance Berhad
6. Gibraltar BSN Life Berhad
7. Great Eastern Life Assurance (M) Berhad
8. Hannover Rueck SE, Malaysian Branch (reinsurer)
9. Hong Leong Assurance Berhad
10. Manulife Insurance Berhad
11. Malaysian Life Reinsurance Group Berhad (reinsurer)
12. MCIS Insurance Berhad
13. Prudential Assurance Malaysia Berhad
14. Sun Life Malaysia Assurance Berhad
15. Tokio Marine Life Insurance Malaysia Bhd.
16. Zurich Insurance Malaysia Berhad
