Tune Protect Malaysia the Malaysian General Insurance subsidiary of Tune Protect Group Berhad has launched its first Critical Illness Insurance called Critical Safe+, an online Health insurance which covers Advanced Stages of Critical Illnesses with affordable cost, flexible options and wide range of benefits to create awareness and appeal to the Millennials and Zillennials.
It is designed to help customers cope financially upon diagnosis of critical illnesses while they focus on recovery with peace of mind.
Critical Safe+ reaffirms the Company’s strong customer-focused approach by providing the option to customers to stack and customise their Health coverage based on their lifestyle needs and budget, in line with the Group’s aspiration of being the lifestyle insurer that everyone loves.
Tune Protect has a 3:3:3 commitment where customers can buy in 3 minutes, receive a response in 3 hours, and get their claims paid in 3 working days. In conjunction with the launch of Critical Safe+, the Company is committing to paying an additional 1% of the sum insured if customers do not receive their claims in 3 working days from the approval date.
The end-to-end fully digital customer journey further reiterates the lifestyle insurer aspiration as the Group intends to target the digitally savvy Millennials and Zillennials.
According to the National Health and Morbidity Survey 2019, data showed that only 22% of the population are insured with personal health insurance (PHI), with 36% of the uninsured population claiming that PHI is not necessary and a staggering 43% of them unable to afford PHI.
Chief Executive Officer of Tune Protect Malaysia Jubin Mehta echoed the sentiment, saying: “The current Malaysian economic climate is causing financial burnout on the working population. The increasing cost of living and escalating medical cost are not mirrored in the standard of living, where individuals are prone to health issues and illnesses.
“The rising costs of healthcare facilities and result-oriented working lifestyles implies negligence on health. With Critical Safe+, customers can customise their insurance plan based on their budget and obtain the necessary financial protection against these critical illnesses. Leveraging on digital, we hope to expedite customers insurance journey and appeal to the Millennials and Zillennials.”
Critical Safe+
Critical Safe+ comes in three different options, which are; Top 2, Top 5, and all 39 critical illnesses with sum insured from as low as RM30,000 up to RM200,000.
Customers can choose any of these three options based on their coverage needs and budget. All three options cover Advanced Stages of critical illnesses with a 100% pay-out upon diagnosis. For customers who wish to enhance their protection, they can opt for the Top 5 or all 39 critical illnesses options which give them the flexibility to add on Early Stage Cover and Diabetic Care Disease with additional premiums to their main plans.
Early Stage Cover pays out 50% of the sum insured upon diagnosis, whilst Diabetic Care Disease consists of an additional sum insured of up to RM50,000.
“The provision of options allows the flexibility for our customers to decide the extent of coverage, sum insured, and optional add-ons. This flexibility reverberates the notion that Customer Knows Best and they are free to decide on the plans that are optimal for them, which may not necessarily be as expansive or as costly,” Jubin added.
The Top 2 option insures customers against Heart Attack and Cancer; Top 5 for Heart Attack, Cancer, Stroke, Serious Coronary Artery Disease, and Kidney Failure; and all 39 critical illnesses option covers a more comprehensive list of critical illnesses.
Critical Safe+ is made available online through Tune Protect’s website and mobile app, and all purchases online will be eligible for a 15% discount. The claiming procedure is also fast and easy as customers can claim through the same online channels, making the journey hassle-free and convenient. In addition to that, customers can also opt for a monthly premium payment to ease their financial commitment.
