Life, takaful to cover Coronavirus

All life insurance and takaful operators will provide hospitalisation coverage and treatment for the novel coronavirus to their policyholders and certificate holders.

The undertaking was announced in a joint statement recently by the Life Insurance Association of Malaysia (LIAM) and Malaysian Takaful Association.

The statement said that even though a majority of the medical policies/certificates carry an exclusion on communicable diseases requiring quarantine by law, players are responding to an immediate need of the nation by waiving the exclusion on quarantine by law in light of the increasing number of people who have been affected.

“Policyholders and certificate holders are advised to check with their respective insurance companies and takaful operators for the benefits and terms and conditions of their health insurance policy and takaful certificate,” LIAM chief executive officer Mark O’Dell has said.

The policyholders are also advised to contact the respective life insurance companies and takaful operators directly to find out more about their insurance and takaful coverage.