KUALA LUMPUR, 5 May 2020 – Tune Protect Malaysia (“Tune Protect”) is proud to announce the Tune Protect Cares - COVID-19 Aid (COVID-19 Aid) – a RM1 million pledge in the form of a compassionate pay-out that will be made available for their individual policyholders, employees, registered agents and their immediate family members.
The COVID-19 pandemic is undeniably impacting millions of lives and the economy the world over. Myriads of uncertainties have unfolded as it continues to affect the livelihood of Malaysians. As more and more companies are stepping up to support their stakeholders by offering relief measures, Tune Protect joins the rally in helping the nation as part of their corporate social responsibility.
The COVID-19 Aid is a compassionate pay-out of RM5,000 that is made available for individual policyholders of Tune Protect’s personal line protection plans, employees, registered agents as well as their immediate family members in the event of their untimely demise due to COVID-19. This compassionate pay-out takes immediate effect up to 31st December 2020, or until the pledged amount is fully exhausted, whichever comes first. For Tune Protect policyholders, all other existing coverages under their respective protection plan remain unchanged.
“Today, our thoughts and prayers are with the individuals, communities and businesses affected by this pandemic. Let us move forward with hope and courage and lean back on our time-tested values and strategies in making the right decisions to cope during this critical period. With this new COVID-19 Aid, we hope it will help in providing financial relief to our stakeholders in this fight against COVID-19,” said William Foo (William), Chief Executive Officer of Tune Protect Malaysia.
In March 2020, Tune Protect rolled out several relief measures under the ‘Tune Protect Cares - COVID-19 Support & Relief Measures’. It includes a sum of RM250 subsidy to cover the cost of the COVID-19 tests, without any additional premium, as well as coverage of treatment and hospital expenses incurred due to a COVID-19 infection within Malaysia for our individual medical plan policyholders. Tune Protect has also automatically extended the coverage for several of their personal insurance products that expire within the Movement Control Oder (MCO) period, so that customers are financially protected from any incidents during this period.
At an industry level, Tune Protect is also participating in the special COVID-19 Test Fund (CTF) of RM8 million which is jointly funded by the insurance and takaful companies through their respective industry associations. In support of the Ministry of Health’s efforts to conduct more COVID-19 tests, this special fund will cover the costs incurred for screening of up to RM 300 per person for medical plans policyholders and takaful certificate holders to undergo tests at private hospitals or laboratories.
“We need to take extra precautions and care for our well-being as we continue to remain resolute in carrying out our responsibilities for the safety of our people in Malaysia,” concludes William.
For more information, please visit www.tuneprotect.com/covid-19.
