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Malaysia Approves COVID-19 Vaccine Injury Fund!

Malaysia Approves COVID-19 Vaccine Injury Fund!

To allay anti-vaccination fears, Malaysia just approved a COVID-19 vaccine injury fund!

Find out how much Malaysia’s COVID-19 vaccine injury fund will pay for each case, and the claim process!

 

Malaysia Approves COVID-19 Vaccine Injury Fund!

Anti-vaccination proponents have been harping that COVID-19 vaccines are so dangerous their manufacturers insist on total legal immunity in case of any injury or death.

The truth is – it’s all about the money.

Pharmaceutical companies normally factor in the cost of potential litigation into every vaccine dose. Legal immunity would allow them to minimise the cost of their vaccines for the pandemic.

Despite the fact that closely-monitored trials involving hundreds of thousands of people have shown that these vaccines are safe, it remains a cause of concern for many people – what if I get injured or die from the vaccine?

Malaysia is eliminating that concern by approving a COVID-19 vaccine injury fund on 21 March 2021.

Officially called Bantuan Khas Kewangan Kesan Mudarat Vakin COVID-19 (Special Financial Assistance for COVID-19 Vaccine Adverse Effects), this COVID-19 vaccine injury fund will pay out :

  • RM 50,000 for serious side effects that requires extended hospitalisation
  • RM 500,000 for permanent disability or death from the COVID-19 vaccine

It will receive an initial funding of RM 10 million (US$2.5 million) under the National Disaster Relief Trust Fund.

 

Malaysia COVID-19 Vaccine Injury Fund Process

The Malaysia Ministry of Health established three committees to monitor and assess the reported adverse effects from the COVID-19 vaccines.

  1. Special Pharmacovigilance Committee for COVID-19 Vaccine Monitoring
    – to monitor and assess the AEFI (adverse effects following immunisation) and safety issues related to the COVID-19 vaccines
  2. Medical Technical Committee
    – to decide if the claim for special assistance has a causal relationship with the COVID-19 vaccines.
    – judgements will be made on a case-by-case basis, based on the evidence received and the report by the Special Pharmacovigilance Committee for COVID-19 Vaccine Monitoring.
  3. Main Committee for Special Financial Assistance for COVID-19 Vaccine Adverse Effects
    – to approve the special financial assistance based on the decisions of the two previous committees.

Once the claim for special financial assistance is approved, NADMA (National Disaster Management Agency) will issue the payment.

 

No More Excuse Not To Vaccinate! Sign Up Now!

Now that every person receiving the COVID-19 vaccine in Malaysia is insured by the COVID-19 vaccine injury fund, there is really no reason not to sign up for the FREE COVID-19 vaccine!

It doesn’t matter if you are a citizen or a foreign resident – the vaccine is FREE!

Just pick any of these FIVE (5) ways to register for your FREE COVID-19 vaccine.

  1. The MySejahtera app.
  2. The Vaksin COVID website.
  3. The telephone hotline : 1800-888-828
  4. Manually at health clinics, hospitals and private clinics
  5. House-to-house registration at targeted rural areas for senior citizens.

Recommended : How To Register For COVID-19 Vaccination On MySejahtera!

 

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Buy Tune Protect Travel, Get 1GB Flexiroam Data Roaming!

Tune Protect just announced that every purchase of their travel insurance will receive complimentary 1GB Flexiroam data roaming for their trip! Here are the full details!

 

Buy Tune Protect Travel, Get 1GB Flexiroam Data Roaming!

Starting from 6 May 2019 onwards, customers who purchase Tune Protect travel protection will receive a complimentary Flexiroam X Starter Pack for their trip.

You can either purchase your Tune Protect travel insurance with your AirAsia fare (excluding value pack and premium flex), or directly from the Tune Protect website, to be eligible for this promotion.

 

Flexiroam X Starter Pack

The Flexiroam X Starter Pack comes with the option of an eSim, a microchip, or a SIM card.

It will give you 1 GB of free data roaming in your destination country for 3 days, from the effective date of the travel protection policy.

If you purchase the Tune Protect annual plan, you can choose your activation date.

To redeem the Flexiroam X Starter Pack, just key in your Tune Protect policy number, email address and destination in the Flexiroam redemption website.

 

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The Machines Protection Plan Explained!

Machines Sdn Bhd (Machines) just launched a device protection plan for customers in Malaysia. Known as the Machines Protection Plan (MPP), this plan provides protection from accidental damage such as cracked screens and water damage for as low as 42 sen per day.

 

The Machines Protection Plan

The Machines Protection Plan (MPP) allows customers to enjoy one (1) screen replacement or one (1) full device replacement during the two (2) year coverage period. The MPP price ranges from RM 299 – RM 899 (~US$ 73-219), depending on the model of the protected device, and can be obtained at local Machines stores upon purchase of a new device.

The Machines Protection Plan (MPP) provides coverage for parts and labour cost. For a full device replacement claim, a service fee will be charged on top of the price for the MPP. For example, for an iPhone SE full device replacement, customers will need to pay a service fee of RM299 on top of the iPhone SE MPP cost of RM299.

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A survey by Otterbox Inc. in 2015 stated that 29% of Malaysians accidentally damage their smartphones within the first three months of purchase. The same study also revealed that 75% of Malaysian smartphone users have damaged their devices almost 3 times in the past 5 years.

Machines has selected Aon Insurance Brokers (Malaysia) Sdn Bhd (Aon Malaysia) as its insurance broker to offer this device protection plan, underwritten by AIG Malaysia Insurance Berhad.

Machines is also working to extend the Machines Protection Plan to include new devices purchased from third parties, including telcos.

 

The Machines Protection Plan Price List

Device MPP Price (inc. of GST)
Apple Watch RM 299 / ~US$ 73
iPhone SE / 6 RM 299 / ~US$ 73
iPhone 6s / 6s Plus RM 599 / ~US$ 146
iPhone 7 / 7 Plus RM 599 / ~US$ 146
iPhone 8 / 8 Plus RM 599 / ~US$ 146
iPhone X RM 899 / ~US$ 219

 

Service Fee Table For Full Device Replacement

This “service fee” is an additional fee that must be paid for a full device replacement, as opposed to a repair or part replacement.

Device Full Device Replacement Service Fee
(inc. GST)
Apple Watch RM 249 / ~US$ 61
iPhone SE / 6 RM 299 / ~US$ 73
iPhone 6s / 6s Plus RM 299 / ~US$ 73
iPhone 7 / 7 Plus RM 299 / ~US$ 73
iPhone 8 / 8 Plus RM 299 / ~US$ 73
iPhone X RM 499 / ~US$ 122
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How Much Will You Save?

If you have butter fingers and keep dropping your expensive iPhone, you will stand to save a lot of money.

Device Regular Price for Screen Replacement
(inc. of GST)
Price for Screen Replacement under MPP
(inc. of GST)
iPhone SE / 6 RM 699 / ~US$ 170 No Charge
iPhone 6s / 7 / 8 RM 799 / ~US$ 195 No Charge
iPhone 6s Plus / 7 Plus / 8 Plus RM 899 / ~US$ 219 No Charge
iPhone X RM 1799 / ~US$ 439 No Charge

If you plan to hang onto your iPhone for many, many years, you will also save on the battery replacement cost.

Device Regular Price for Battery Replacement
(inc. of GST)
Price for Battery Replacement under MPP
(inc. of GST)
iPhone SE RM 399 / ~US$ 97 RM 49 / ~US$ 12
iPhone 6 RM 499 / ~US$ 122 RM 49 / ~US$ 12
iPhone 6s / 6s Plus RM 399 / ~US$ 97 RM 49 / ~US$ 12
iPhone 7 / 7 Plus RM 399 / ~US$ 97 RM 49 / ~US$ 12
iPhone 8 / 8 Plus RM 399 / ~US$ 97 RM 49 / ~US$ 12
iPhone X TBC RM 49 / ~US$ 12

Please note that they will only replace your battery when it cannot be charged beyond 50% of its original capacity. In addition, you’re only allowed one battery repair or replacement, and that’s subject to the service fee above.

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You Can Now Buy AIG Insurance Coverage On Lazada!

KUALA LUMPUR, August 22 2017 Lazada Malaysia today announced their partnership with AIG Malaysia, a subsidiary of American International Group, Inc (NYSE:AIG), to provide a more convenient and seamless purchase of AIG insurance on their online shopping platform.

 

Buy AIG Insurance Coverage On Lazada

Customers who shop on Lazada Malaysia can now purchase Travel, Snatch Theft and Personal Accident (Active Lifestyle Care) coverage via the ‘freestanding’ AIG shop-front. The premiums on these AIG insurance coverages will be priced between RM 8 to RM 115.

Malaysia’s general insurance penetration level, measured in terms of premiums as a share of GDP, stands at less than 2% as compared to 3-4% in more developed markets. Recognising that the population remains largely uninsured, the partnership seeks to continue expanding the reach and penetration of insurance in the country, further generating more awareness among consumers.

“Enabling opportunities in the digital and direct channels for the purchase of insurance will be able to improve transparency and enable easier product comparisons, further ensuring that our customers are well-informed about the right products that suit their needs. We continuously invest to provide services that create a more engaging customer experience, and ultimately, better serve the needs of Malaysians. This collaboration is timely and helps prepare Malaysians to take a better charge of their future,” said Hans-Peter Ressel, Chief Executive Officer of Lazada Malaysia.

According to Antony Lee, AIG Malaysia’s Chief Executive Officer, the partnership is another milestone for AIG Malaysia to reach out to a very underinsured segment of the market that favours the convenience of purchasing on digital platforms. These AIG insurance products are specifically tailored for this market at competitive premium prices.

Lazada not only presents a compelling retail presence, but also offers a strong online platform that enables AIG Malaysia to offer the relevant products to the right customers at the right time, and for the right reasons. With some 50 per cent of Lazada’s customers aged between 26 and 35 years – well within AIG’s target customer segments – the partnership will provide us with the opportunity to better understand our customers’ needs and to continuously match them with the right insurance solutions.”

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U Mobile Set To Offer Sun Life Micro Insurance

KUALA LUMPUR, 18th MAY 2017 – U Mobile and Sun Life Malaysia today announced their partnership to provide telco-assurance to U Mobile’s base of over five million customers.

 

U Mobile Set To Offer Sun Life Micro Insurance

The collaboration is significant for two reasons. Firstly, it will be the first time that life insurance is offered to mobile customers in Malaysia via a telco service provider. Secondly, it is also the first time Malaysians will be able to apply, subscribe and manage their life insurance coverage entirely via their mobile phone, if they are a U Mobile customer.

During the Memorandum of Understanding (MoU) signing ceremony, U Mobile’s Chief Executive Officer, Wong Heang Tuck, shared that the telco is very driven by its customers’ passion and has an unlimited list of ideas on how to benefit customers.

He pointed out that insurance coverage is just one of the many services the telco will be launching this year. “We believe that all our customers would want to have unlimited peace of mind during their time of need. As a start, we will be partnering with Sun Life Malaysia to offer life microinsurance which provides necessary and adequate protection at low monthly premiums.”

Heang Tuck added that Sun Life Malaysia is the ideal life insurance partner, “Sun Life Malaysia not only shares our challenger mindset, but also has extensive expertise in insurance product innovation which we can tap into. Together, we will be able to offer products that are suitable yet financially accessible.”

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Also present at the signing ceremony was Raymond Lew, Chief Executive Officer and President / Country Head of Sun Life Malaysia. He echoed Heang Tuck’s enthusiasm about the partnership, and stated that five out of every 10 Malaysians do not have life insurance coverage.

The collaboration with U Mobile not only increases the awareness of the importance of life insurance among Malaysians, but also increases the accessibility for customers to purchase insurance products.

U Mobile will be making Sun Life Malaysia microinsurance products available to its customers from October 2017.

 

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Takaful & Allianz Malaysia Receive Top Motor Insurance Awards

iBanding Services recently awarded Syarikat Takaful Malaysia and Allianz Malaysia for the Best Motor Takaful Company and Best Motor Insurance Company in 2016 respectively. The awards were based on the results of a study conducted by iBanding, which ranked insurance companies in Malaysia on actual feedback from Malaysian motor vehicle drivers.

The study revealed that Syarikat Takaful Malaysia customers are the most satisfied with their insurance services and recommend the motor insurance company to their family and friends more often than other companies. Takaful insurance holders quoted price, quality of service and policy benefits as the top three reasons why an insurance company is preferred.

 

The iBanding Motor Insurance Awards

iBanding’s recognition of Syarikat Takaful Malaysia and Allianz Malaysia as the best motor insurance providers in 2016 is not like any other award within the industry. Besides providing valuable insights from its annual study, iBanding’s yearly ranking of motor insurance companies for both Conventional and Takaful motor insurance provides consumers with the knowledge and confidence to choose the best insurance company that is right for them.

Luke Roho, Co-Founder of iBanding elaborates, “For the past 30 years, Malaysians do not feel that it was necessary to shop around to compare different motor insurance policies. This was because motor insurance prices have been regulated by a tariff structure, which is set by Bank Negara Malaysia. This will change with the introduction of Motor Detariffication in July this year. With the implementation of Motor Detariffication, motor insurance prices are no longer regulated.

This means that insurance companies will be able to set their own prices and offer a variety of differently priced services to consumers. However, lower price does not mean that the service offered is better. Our motor insurance ranking and insurance award will help consumers decide what company is best for them based on price and service quality. Ideally, consumers want to buy insurance with the best service and lowest price.

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Roho added that consumers will have to be ready for the changes that follow Motor Detariffication, “After detariffication is implemented, consumers may find buying motor insurance to be a bit more complicated. This is because insurance companies or agents will now ask a lot more questions. This additional information will help insurance companies decide if you are a safe driver or a risky driver, which will ultimately affect the price of the insurance plan.

If the insurance company decides that you’re more of a risky driver than a safe one, the price of your insurance will be higher. This means that two individuals purchasing the same car model may have to pay different insurance prices based on various considerations like occupation and traffic violations. With so many options to consider, it can be overwhelming especially for first time buyers. iBanding helps consumers select the right company through its annual Motor Insurance Award.”

 

 

How The Survey Was Conducted

The Study is based on the Net Promoter Score (NPS) methodology, which closely examines customer satisfaction. iBanding’s Study also uses statistical methods and fraud detection parameters to ensure unbiased results.

From 4,000 unsolicited responses received nationwide in 2016, 2,600 responses were accepted, with Syarikat Takaful Malaysia scoring the highest for Islamic Insurance or more often called Takaful, and Allianz Malaysia for Conventional Insurance.

 

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GoBear For The Bear Essentials On Insurance & Credit Cards

Bear Essentials On GoBear

On May 5, 2016, GoBear launched their website to help Malaysians tackle the confusing morass of insurance and credit card offerings in Malaysia. The GoBear website aims to summarise the confusing features and limitations of all those offerings to give you nothing but the “bear essentials”. This will allow you to easily compare their features and limitations, so you can make the best financial decisions for your family.

In this video, GoBear CEO Andre Hesselink explains the motivation behind GoBear and how they avoid being biased in their recommendations.

 Then it’s time for GoBear to break out of its prison!

 Now, Iskandar Ezzahuddin, GoBear Country Director (Malaysia), explains how the GoBear website works its magic.

Their aim is, ultimately, to clarify the confusing insurance and credit card market for the consumer. Their partners, on the other hand, benefit by receiving customers that are already aware about what they are buying. [adrotate banner=”5″]

 

GoBear Press Release

MALAYSIA (6 MAY 2016) – Have you ever been in a situation where you are completely lost and have to bear the hassle of comparing various travel insurance policies and credit cards? Starting today, break free from the hair pulling confusion of trying to select the best financial products to suit your needs. GoBear, the easy-to-navigate site provides unbiased side-by-side comparison between different financial products for users.

GoBear believes in being an internet company that specialises as an information platform and not as a seller or representative of products. This allows unbiased search results that are fair, simple, and complete to match the needs and preference of any individual or family. Consider it the go-to place when you need only the bare necessities to help you pick the perfect financial product. GoBear currently lists over 1,000 financial products on its website and will be adding more in the months to come.

“GoBear originated from the idea that people today want easy access to service information, and that customers should be able to compare various financial products easily before making a decision. This is where GoBear steps in, to provide a new experience that makes searching for financial products quickly, easily and transparently,” said Iskandar Ezzahuddin, Country Director Malaysia, GoBear.

He continued, “Today’s insurance buyers are mobile-first, multi-screen and social media savvy. To reach them, insurance companies will need to employ an increasing emphasis on simplicity in search.”

GoBear recorded a 50 percent month on month growth in usage with over 1.2 million users since it first established itself in Singapore and Thailand.

On the expansion to Malaysia, Andre Hesselink, Chief Executive Officer of GoBear explained, “GoBear is a global brand in the making and we are very focused on being local to serve customers in each of our key markets in the best way. Together with a team of Malaysian specialists, we continue to enhance the seamless user experience, with search, filter and insurance quotes.”

GoBear Malaysia currently features travel insurance and credits cards. The site will be expanding into the car insurance and personal loan category in the third quarter of this year.

With GoBear, all the crucial information you need is as ‘bear’ as it comes.

 

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