MSIG Malaysia has introduced the country’s first personal accident (PA) add-on designed to provide critical financial protection for individuals who lose their independence due to accidents or unforeseen events.
The MSIG PA Add-On: Assisted Living is a groundbreaking addition to the company’s personal accident insurance portfolio. This new coverage provides essential financial support for nursing care expenses, a type of coverage that has traditionally only been available through life insurance policies.
Exclusively available to holders of MSIG’s Prime PA, Individual PA, and Senior Citizen PA policies, the add-on offers up to RM5,000 ($1,142) per month for a maximum of 12 months per injury. It covers essential nursing care at registered nursing homes, care centres, or in-home care by licensed nurses.
To qualify for claims, policyholders must be certified by a registered medical practitioner as being unable to perform at least three Activities of Daily Living (ADLs). These include dressing, washing, toileting, mobility, transfer, and feeding. A follow-up assessment after six months will be required to confirm continued eligibility for claims.
This new add-on is designed to ease the financial burden of assisted living care for individuals and their families. It ensures access to vital nursing support in times of need, whether for self-care or for elderly or disabled family members.
The add-on is available with affordable annual premiums starting from RM37, making it accessible to a wide range of policyholders. Eligible individuals include Malaysians, permanent residents, work permit holders, and their dependents, with the age range for entry set between 16 and 59 years old, and renewability extending up to 80 years of age, depending on the policy type.
MSIG Malaysia CEO Chua Seck Guan stated that MSIG is the first general insurer in Malaysia to offer assisted living coverage within a PA policy. “We recognize the impact of sudden disabilities due to accidents on individuals and families,” he said. “This add-on reflects our commitment to providing policyholders with the care and financial support they need during difficult times.”
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