You’ve probably heard of life insurance, but have you ever heard of lifestyle Insurance? Well, our friends at Allianz Malaysia have a plan called the Allianz Lifestyle Protect which aims to protect Malaysians from the daily risks of life in the modern world, including online scams through a fake website or app, purse snatching, missing events or concerts, and more.
Allianz Lifestyle Protect is a bit like double masking – it’s more of a complementary to your existing policy from just 23 sen per day. So what does the price of two candies from a miscellaneous store get you? Well, here are the main ones:
1. Refund the cost of your ticket if you missed a concert or event
Sometimes malang tak berbau and you might find yourself missing a long-awaited concert, sporting event, or theme park visit. because you took a trip to the hospital instead. While Allianz Lifestyle Protect can’t get Justin Bieber to come to your hospital bed, they can help. cover the cost of your ticket.
Basically, if you purchased these tickets at least two weeks in advance but were somehow hospitalized, Allianz Malaysia will reimburse you up to RM500 of the cost. It depends on the type of plan you get – level 23 sen (85 RM/yr) maxes out at 300 RM while the one with the highest protection (245 RM/yr) maxes out at 500 RM.
But even if you don’t have an event to miss, you’d definitely want some of these other perks…
2. Give you money + pay your credit card if you kena malang
Especially if you’re in the freelance or gig economy, a hospital stay means a time when you’re not making money. With Allianz Lifestyle Protect, you can be compensated between RM100 and RM500 each day you were hospitalized of an accident.
Additionally, if your hospital stay exceeds 10 days due to an accident, Allianz Malaysia will reimburse up to RM5,000 to help you repay your credit card and/or bank loan.
But not just for you, it also helps your loved ones pay your funeral expenses (RM1,000 – RM5,000) if you don’t (knock on wood!) after an accident.
3. You are protected against snatching and online scams
We all know that purse robberies usually don’t end well for the victim, so Allianz Lifestyle Protect will reimburse you between RM300 and RM500 if there is a actual or attempted snatching. But if your smart device such as a phone or tablet has been stolen or damaged while robbed or snatched, you can also be compensated up to RM5,000. Just be sure to file a police report within 24 hours to claim these benefits.
Speaking of smartphones, if you’re into that online shopping life (who isn’t?), you can also hit that BUY button with extra peace of mind knowing you can get compensated up to at RM1,500 if you bought from a fake/scam platform, or if you don’t receive your items.
Even those of you with an active lifestyle are not left out. If your kena curi sports equipment, you can recoup part of the cost, up to RM2,500. Of course, you will also have to make a police report within 24 hours as well lah.
4. Students can get help paying their university fees
This is an optional add-on but, if you are an upper-level student (or a parent of a child), you may want to consider the study break package. Basicallyif the student ends up being hospitalized for 10 days or more due to an accident, they can receive up to RM50,000.
This does not only apply to the students, but also to their sponsor (i.e. the one who pays the bills). In the event of the accidental death of the sponsor, the student must also receive the assured amount to help tahan for one more semester until new plans are made. Not only that, there is also a transportation allowance for the student visit an immediate family member who has been hospitalized.
5. Get up to 4 times the payment if you are disabled due to a car accident
Depending on your plan type, you will be covered for up to RM50,000 if you are permanently disabled after a car accident; whether as a driver, passenger driver/passenger or pedestrian. However, Allianz Lifestyle Protect comes with two value-added features that can double or quadruple this amount.
The first is called a Renewal bonus, which increases your insured amount by 10% per year, up to a maximum of 100%, or essentially double, if you make no claims for permanent disability. You can view the definition and payments for permanent disability here.
The second is called a Double Indemnity, where you would get double the payout (including the renewal bonus) if you are totally paralyzed from the neck down or lose more than two limbs in a car accident.
But wait, there’s more!
Allianz Lifestyle Protect also covers other things you might need to live your best life, including:
- Permanent disability (RM10,000 – RM50,000)
- Nursing Allowance (RM500 – RM4,000)
- Post-accident rehabilitation allowance (RM1000 – RM5,000)
- Maid service allowance (RM300 – RM500)
If you think RM85 per year is a pretty good starting price, the good news is that there is Allianz Shield Plus policyholders will only have to pay RM 76/year, or 21 sen/day.
Check this link to see the full list of coverage you will get, and this link for all policy definitions if you rajin. Or you know, ask them to explain to you in get in touch with Allianz here.