The newly launched Allianz Cancer Protect plan offers Malaysians flexibility in managing cancer diagnosis.
According to the Ministry of Health, in Malaysia, at least 60 percent of cancer cases are detected at Stage Three and Stage Four. Furthermore, the Global Cancer Observatory 2018 report revealed there were 43,837 new cancer cases in Malaysia last year, thus improving cancer mortality hinges on awareness, early diagnosis and access to treatment.
Allianz Malaysia Berhad’s Chief Executive Officer Zakri Khir said, “When it comes to cancer, one of the biggest challenges is still affordability of treatment. And that’s true anywhere in the world. The economic burden brought on by the disease can be grave. And with escalating medical costs, those diagnosed with cancer are often resigned to making difficult decisions to give themselves a fighting chance to battle the disease.”
“With Allianz Cancer Protect, it is all about affording the policyholder with viable options for treatment. Having options when seeking medical treatment is like a lifeline. And when you are staring down cancer, it can be a game-changer. Allianz Cancer Protect gives policyholders the option to choose the type of plan and coverage, ultimately giving them the power to choose what suits them the best,” added Zakri.
Allianz Cancer Protect offers four plans – Plan 125 (for an Insured Amount of (RM125,000); Plan 250 (RM250,000); Plan 375 (RM375,000); and Plan 500 (RM500,000) – and a choice of Lump Sum Insured Amount (Coverage A and Coverage B) or Overseas Medical Treatment Benefit (with Coverage B only).
Coverage A and Coverage B offers the following:
Lump Sum Insured Amount (Coverage A)
- If diagnosed with cancer, the Insured will receive 200 percent of the Insured Amount upon approval of the claim
Overseas Medical Treatment Benefit (Coverage B)
- If diagnosed with cancer, the Insured will receive 100 percent of the Insured Amount upon approval of the claim
- Upon approval of the claim and payout of the first 100 percent of Insured Amount, an Indemnification Period of 36 months shall start where the Insured Person can choose to either:
- Receive an additional 100 percent of Insured Amount (after which the Policy shall be subsequently terminated); or
- Activate the Overseas Medical Treatment Benefit
For Coverage B, the 36-month Indemnification Period allows patients to seek a second opinion.
Besides that, Coverage B also provided policyholders an Overseas Medical Treatment Benefit Annual Limit of up to USD2 million and an Overseas Medical Treatment Benefit Overall Limit of USD4 million.