Zurich Malaysia announced two new medical riders catering to different customer needs to provide greater access to medical plans for peace of mind. The riders, MediAfya and Zurich Infinite Care, are takaful and conventional riders respectively.
Their introduction is timely as only 22% of Malaysia’s population are covered by personal health insurance according to the 2019 National Healthy and Morbidity Survey (NHMS). Meanwhile, the Aon 2022 Global Medical Trends Rates report found that in Malaysia, 43.3% who have no personal health coverage stated they cannot afford it.
As such, the riders are designed to address this gap and encourage Malaysians to opt in for medical coverage.
MediAfya was developed with customer demand for medical coverage at an affordable contribution in mind. It provides basic medical coverage with a minimal 10% co-takaful capped at RM1,000 per year to improve affordability. This gives greater accessibility for the masses to obtain the necessary medical protection. The plan also allows the convenience of cashless admission to further help customers at their time of need.
Meanwhile, Zurich Infinite Care is a customisable solution comprising three plans with multiple Deductible options to suit the needs of all segments. This rider encourages healthy lifestyles by rewarding customers with up to 30% savings in cost of insurance if no claims are made. In addition, it has a built-in ‘Inflation Shield’ to address medical inflation concerns by automatically increasing Annual Limit by 20% every five years.
Customers can even reduce the Deductible amount without underwriting upon retirement for greater peace of mind. The rider also provides longer post-hospitalisation care of up to 210 days and medical device coverage which is typically not included in medical plans.
Infinite Care customers may further enhance their protection with Total Critical Care option. This covers selected Critical Conditions and surgery. These include Genomic Cancer Test, alternative treatment and medical screening of up to five years, offering completeness in medical coverage from diagnosis to recovery.
Malaysians are advised to speak to their agents to get further information and add on these important riders according to their needs.
