Kuala Lumpur, 23 March 2020 – In view of the latest development of the Novel Coronavirus (COVID-19) outbreak, FWD Takaful Berhad (“FWD Takaful”) is responding to the immediate needs of customers by announcing a complimentary special extension of coverage and benefits for COVID-19 to all products, new and in-force. FWD Takaful has also 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. The coverage period starts from 18 March 2020 to 30 June 2020 or until the fund is exhausted, whichever occurs first.
Salim Majid Zain, FWD Takaful’s Chief Executive Officer said, “We’d like to reiterate that the health and wellbeing of our customers, employees, business partners and the wider community is of paramount importance to us. At FWD Takaful, we want to change the way people feel about Takaful and therefore, we’re pledging a total of RM1 million under our special fund to fight against COVID-19.”
Certificate owners will be entitled to an additional death benefit of RM20,000 upon person covered’s death due to COVID-19. We’ll also provide a hospitalisation benefit of RM200 per day for up to 60 days if the person covered is diagnosed with COVID-19 and quarantined at any Ministry of Health Malaysia designated hospitals. FWD Takaful will also pay a 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.
The benefits above will not be applicable if the person covered (including the family members) has been diagnosed with COVID-19 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.
FWD Takaful shall 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.