KUALA LUMPUR: Life Insurance coverage Affiliation of Malaysia (LIAM) has assured all policyholders that the nationwide state of emergency enforced till Aug 1 is not going to affect life insurance coverage insurance policies’ contractual obligations.
Claims can be paid in keeping with the phrases and situations as acknowledged of their insurance policies, mentioned president Loh Guat Lan.
“Policyholders and their members of the family can contact respective life insurance coverage corporations immediately for help as aid measures might differ from one insurer to a different,” she mentioned in an announcement yesterday.
In the meantime, Loh mentioned the affiliation, along with its 16 member corporations, had undertaken a number of aid measures for flood victims to alleviate the hardship brought on by the current flood disaster in a number of states which embody Pahang, Terengganu, Kelantan, Perak and Johor.
Among the many measures are restructuring of premium paying modes from annual to month-to-month foundation, extending the grace interval for fee of premiums, decreasing or waiving the curiosity prices for coverage mortgage and computerized premium mortgage, and waiver of printing price for coverage or medical card alternative.
“As a accountable company citizen, LIAM could be very involved and we perceive the struggling and loss that the flood victims are experiencing. We consider that these measures will assist to ease their burden and assist them get again on their toes once more,” she mentioned.
Policyholders and their members of the family are suggested to contact the respective insurance coverage corporations for additional help. — Bernama
