Sun Life Malaysia Assurance Berhad and Sun Life Malaysia Takaful Berhad (collectively Sun Life Malaysia), a life insurance and Family Takaful provider, have further increased their commitment by establishing a RM1 million COVID-19 Relief Fund to support their Clients affected by the COVID-19 pandemic.
The RM1 million COVID-19 Relief Fund is the latest in a long line of other measures to help those diagnosed with COVID-19 and also their family members.
Sun Life Malaysia also wants to reach out 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.
Raymond Lew, CEO and President and Country Head of Sun Life Malaysia said that with the recent escalation of the COVID-19 situation, they want to address the immediate concerns facing Clients impacted by COVID-19 by alleviating their families’ financial stress.
“As a testament to our commitment to ease the financial burden of our Clients, we have put in place a robust claims process to ensure they are protected effectively and efficiently during this time of need,” he said.
“Furthermore, we also want to extend our heartfelt appreciation and support to Clients contributing on the front lines of the pandemic, who are putting the nation first before self and risking their lives to care, protect and provide essential services for all Malaysians,” he added.
In line with Bank Negara Malaysia’s recent announcement, Sun Life Malaysia will also be extending the grace period on all regular premium/contribution payment for affected Clients for up to 90 days.
Policyholders may apply for the payment deferment by 31 December 2020.
“We are committed to continuing our support in line with our business purpose of ensuring lifetime financial security for our Clients,” Lew said, adding that they will continue to evaluate and add to their measures accordingly as the situation progresses and ensure their Clients are supported and protected during these trying times.
In addition, Sun Life Malaysia will participate in an industry special relief fund for all insurance and takaful policyholders/participants.
This industry-wide relief fund seeks to encourage and lower the cost barrier for COVID-19 testing at private hospitals/medical facilities, by providing an RM300 benefit upon testing.
Applicable for both existing and new Clients, these benefits are available from 18 March 2020 until 30 June 2020 or until the Fund has been fully utilised, whichever is earlier.
To learn more about Sun Life Malaysia’s COVID-19 Relief Fund and other special measures, please visit https://www.sunlifemalaysia.com/customer-care/covid-19-updates/special-measures-for-covid19/ and also follow Sun Life Malaysia’s social media channels, Facebook at www.facebook.com/sunlifemalaysia and Instagram at www.instagram.com/sunlifemalaysia_my for the latest updates.