Malaysian ministry announces cheap Rahmah insurance from Allianz and Etiqa

Covers personal accidents up to RM50,000

Malaysian ministry announces cheap Rahmah insurance from Allianz and Etiqa

Insurance News

By Kenneth Araullo

Malaysian Domestic Trade and Cost of Living (KPDN) minister Datuk Seri Salahuddin Ayub has announced affordable insurance and takaful packages under the Putrajaya Rahmah initiative, with the packages coming from Allianz Genera, Etiqa General, and Etiqa General Takaful.

The packages were once hinted at by Ayub a few months prior as part of the Rahmah scheme, the government program designed to help out B40 groups in the country. The package provides coverage of personal accidents up to RM50,000 and benefits including reimbursement of medical expenses at government hospitals. Emergency relief payments of up to RM750 are also available in the event of a flood evacuation, depending on the plan of choice.

“The new benefit is added at no additional cost with an annual premium at the rate of RM53.50 and RM79.50, including sales tax,” Ayub said in a report from Malay Mail.

Allianz is also offering a MotorcyclePlus coverage of RM10,000 for both rider and passenger as well as hospital allowance through a policy based on the registered motorcycle engine capacity. Those who purchase the insurer’s comprehensive policy can also enjoy all benefits of the MotorcyclePlus package, including other benefits such as special perils coverage, roadside assistance, and flood relief benefits.

“I think those in the gig economy, such as FoodPanda and Grab, should come forward to get this protection since many of them use motorcycles,” Ayub said.

Etiqa, is also offering a takaful package which provides compensation for disability or death due to accidents or illnesses, with coverage of up to RM80,000. It costs RM5 monthly, or RM36 annually, sales tax included. Ayub said that these packages are available to Malaysians aged between 16 and 65 years, renewable until the policyholder is 70 years old.

“KPDN hopes that all plans offered through these two initiatives will help support more Malaysians, especially those in the B40, to own insurance or takaful coverage, next to applying the importance of owning insurance or takaful for the protection of one’s self and property,” he said.

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