With the current rising COVID-19 cases recorded in Malaysia, FWD Takaful Berhad is announcing a complimentary special extension of coverage and benefits for COVID-19 to all products, new and in-force. FWD Takaful pledged a total of RM1 million under its special fund to help customers and their immediate family members who’ve been affected by COVID-19. However, FWD Takaful mentioned that the coverage period starts from 18 March 2020 to 30 June 2020 or until the fund is exhausted, whichever occurs first.
For Malaysian, a better insurance coverage and benefits
FWD Takaful stated that certificate owners will be entitled to an additional death benefit of RM20,000 upon person covered’s death due to COVID-19. The insurance company also providing a hospitalisation benefit of RM200 per day for up to 60 days provided the customer covered is diagnosed with COVID-19 and quarantined at any Ministry of Health Malaysia designated hospitals. Additionally, FWD Takaful will pay another special lump sum compassionate benefit of RM5,000 per person upon immediate family member’s death or diagnosis with COVID-19. The coverage extension will include implementing a waiver for communicable diseases requiring quarantine by law and reduced waiting periods for our existing medical plan.
Terms and condition you should know
However, for those being diagnosed and/or is being quarantined for monitoring of COVID-19 at the request of a doctor and/or competent authorities before the commencement date or reinstatement of certificate will not be eligible for the benefits above.
FWD Takaful specifically stated that they have the right to amend the terms and conditions of this special extension of coverage and benefits for COVID-19 from time to time without prior notice. In case of disputes, the company reserves the right of final decision.