E-wallet, Boost has collaborated with sister company, Aspirasi, a digital financing service provider, to launch. ‘Aspirasi Protect’, a 7-day insurance cover at only RM 1.50 and comes with Covid-19 Assist. The Covid-19 Assist is an additional financial assistance programme offered by Great Eastern Life Assurance (Malaysia) Berhad.
The micro-insurance plan aims to provide affordable and on-demand protection to give Malaysians a boost of confidence as the country eases restrictions.
The 7-day insurance coverage offers up to RM 37,500 for accidental death of various causes, RM 12,500 for critical illness protection for major head trauma or coma and RM 5,000 bereavement benefit upon accidental death.
The plan also comes with additional assistance in the form RM 200 daily hospitalization cash assistance upon diagnosis of Covid-19 up to a maximum of 60 days of hospitalisation and RM 20,000 financial assistance upon fatality due to the virus.
“It is the right window of opportunity to expand our offerings beyond just a payment option but also an e-wallet that offers affordable and accessible insurance coverage. This is aligned with our long-term goals towards achieving a complete financial services offering,” said chief executive officer of Boost, Mohd Khairil Abdullah.
Executive director of Aspirasi, Sheyantha Abeykoon said, “Our goal is to narrow the protection gap in the country and we aim to achieve this by offering affordable and customisable micro-insurance solutions.”
Boost will also be offering 100 percent cashback for users who enroll for the 7-day insurance plan from now until July 15. In order to be eligible for the package, users must be aged between 18 to 69 years next birthday and must be a Malaysian citizen or permanent resident int the country.