Malaysian life insurance companies implement relief measures to assist flood victims
Under the Insurans Hayat Cares, LIAM member companies are in unison to alleviate the hardship caused by the worst ever flood catastrophe
Kuala Lumpur, 6 January 2015 – LIAM through its Insurans Hayat Cares platform, today announced flood relief measures which will be undertaken by life insurance companies in Malaysia to alleviate the hardship caused by the worst ever flood catastrophe in Malaysia in more than a decade, involving over 200,000 victims.
LIAM President, Mr Vincent Kwo, said as a responsible corporate citizen, LIAM is 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:
a. Restructuring of premium paying modes, from annual to monthly basis;
b. Extending the grace period for payment of premiums;
c. Reducing or waiving the interest charges for policy loan and Automatic Premium Loan;
d. Duplicating of lost policy documents without any cost;
e. Waiving of fee for medical card replacement;
“Our member companies are committed in expediting the claims payments related to this catastrophe. We would like to advise policyholders and their family members to contact their respective insurance companies for further assistance.
In this time of need, it is only right that the life insurance industry extend its warmth and care for them. We believe that these measures will help to ease their burden and help them get back on their feet again,” he added.
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 (formerly known as AmLife Insurance Berhad)
4. AXA AFFIN Life Insurance Berhad
5. Etiqa Insurance Berhad
6. Gibraltar BSN Life Berhad (formerly known as Uni.Asia Life Assurance 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 (formerly known as MCIS Zurich 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
