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Berjaya Sompo Offers Coverage for Surgical Implants of Pacemakers and Defibrillators

luke — Tue, 13 Feb 2018 01:08:11 +0000

Berjaya Sompo Insurance Berhad (Berjaya Sompo) has launched its latest product, Sompo Health Hospitalisation & Surgical Insurance, to help Malaysians of all ages and from all walks of life obtain adequate medical coverage.

To ensure that it meets the different needs of a diverse population, the plan is competitively priced from RM362 per annum and offers an overall annual limit ranging from RM50,000 to M500,000. Providing coverage for 30-day-olds right up to 100-year-olds, it features no lifetime limit and guaranteed renewal up to 100 years old, as well as a deductible option with premium discount, among others.

“Many typical plans in the market impose a lifetime limit, which means that individuals who make claims may not be able to renew their policies, have to pay a higher premium or be restricted in coverage. As our population ages, it makes sense to offer a plan that is able to help ease the financial burdens of families, especially as they grow older. The guaranteed longer coverage and no lifetime limit offered by this plan will give them better peace of mind,” declared Berjaya Sompo’s Chief Distribution Officer, Stuart Chua.

First of its kind to offer coverage for surgical implants of pacemakers and defibrillators

What’s more, Sompo Health Hospitalisation & Surgical Insurance is the first of its kind to offer coverage for surgical implants of pacemakers and defibrillators, with reimbursements ranging from RM10,000 to RM50,000.

“Pacemakers have become a common treatment for people who suffer from heart diseases. We want to help make it easier for heart disease patients to receive the treatment they need to achieve better quality of life,” added Stuart.

Additionally, with this plan, individuals who already have existing coverage from their employers can opt to top up their existing policy while enjoying attractive discounts.

Other benefits include full reimbursement for outpatient cancer and kidney dialysis treatments (up to annual limit), intensive care unit, operating theater and hospital services and supplies as well as various professional fees and services, such as pre-hospital diagnostic tests and specialist consultation, surgeon and anaesthetist fees and post-hospitalisation treatment.

Policy owners will also be eligible for outpatient/ extended benefits that include full reimbursement for emergency accidental outpatient and dental treatments as well as organ transplants and outpatient physiotherapy/chiropractic treatment, up to RM6,000 for home nursing care (up to 180 days) and up to RM5,000 bereavement allowance.

For more information, go to www.berjayasompo.com.

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50,000 Malaysian employees to be laid off this year

luke — Fri, 05 Jan 2018 01:59:22 +0000

The new year has just begun and we are already given the unpleasant news about the looming retrenchment in the Malaysian job market this year.

The Sun Daily reported earlier this week that 50,000 Malaysian employees are expected to be laid off in 2018, with the main sector to be affected will be manufacturing, according to Datuk Shamsudin Baradan, executive director of the Malaysian Employers Federation (MEF).

Other sectors that will also feel the pinch are the insurance, banking and retail industries as well construction.

Several factors that are affecting the job market this year as reported by the the English daily are:

the levy imposed on employers for hiring foreign workers
the newly implemented Employee Insurance Scheme (EIS)
the increase in the number of days for maternity leave from 60 days to 90 days
the increase dependency on automation as well as information technology
the increase in wage cost that is resulting in multinational corporations involved in labour-intensive industries moving out

Furthermore, a review of the minimum wage scheduled in July will also have an impact on employers hiring workers, according to Datuk Shamsudin.

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Get motor insurance quotation the easy way – PIAM Motor Product Selector

luke — Thu, 24 Aug 2017 10:36:00 +0000

Perstuan Insurans Am Malaysia (PIAM) has recently introduces an online platform to the public to ease their shopping for motor insurance.

Since the launch of the second phase of motor detariffication in Malaysia on July 1, 2017, insurance companies and Takaful operators have started to introduce new and innovative insurance products to attract customers and expand market shares.

The second phase of motor liberalisation, also commonly known as detariffication, allows general insurance and Takaful companies to set their own methods in calculating premium hence determining prices on their own for their motor insurance products. This is a big change to the 30-year-old practice where were dictated by a tariff structure by Bank Negara Malaysia.

Renew your Car Insurance with iBanding

Due to the varied rules in premium calculation, motor insurance price is expected to differ among insurance companies. Consumers should allow themselves some time to shop around for the right product with the right price before the expiration of the existing policy.

PIAM is making this effort easier with the introduction of their motor insurance selector. Consumers can request for comprehensive, third party and third party fire and theft quotation from any of the 22 insurance and Takaful companies listed.

Quotation for additional coverage that comes with comprehensive policy can also be requested such as loss of use, limited special perils, keys replacement and personal accidents.

To start shopping for motor insurance prices on PIAM’s Motor Product Selector, click here.

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Lower road tax charges for prudent drivers? Government to study soon

luke — Thu, 20 Jul 2017 00:51:33 +0000

The Malaysian Transport Ministry is studying the possibility of implementing a flexible road tax payment system that will be calculated based on vehicle conditions, mileage and drivers’ traffic offences, according to a report by The Malay Mail.

“This flexible road tax payment system is an incentive from the government to prudent drivers to reduce their road tax rates. With the advancement of technology, we can now know their mileage, so the lower the mileage the lower the road tax rates,” said Transport Minister, Datuk Seri Liow Tiong Lai.

This effort is in line with the recently implemented phased liberalisation of motor insurance, also known as detariffication that aims to, among others, promote fair premium rates based on the risk profile of policyholders.

However, Datuk Seri Liow did not offer any more detail on the system or when Malaysians can expect it to be implemented.

To know more about second phased of motor detariffication that was launched on July 1st, go here.

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