|
MAA
Takaful unveils all-cancer coverage
Source:
The Star, 29th July 2008
MAA Takaful Bhd, the latest entrant
into the takaful market, has launched what is believed to be the
industry’s first standalone comprehensive cancer plan that covers all
forms of cancer.
Called MAA Takaful CancerCare, the
scheme offers benefits at both early and advanced stages of cancer.
Chief executive officer Salim Majid
Zain said: “The plan is the first of its kind in the takaful industry.
Apart from that, it is unique in that it pays out the benefits at the
first stage of cancer for 10 gender-specific cancers to assist the
policyholder in seeking the necessary treatment. These gender-specific
cancers are common cancers.
“This day and age, no one can say for
sure that cancer can be avoided. But with medical advances, it is
possible to diagnose most forms of cancer early. That is why our focus
is to ensure the survival of our policyholders.”
The company expected the product to
rake in about RM10mil in contribution in the first year. In the first
week of its launch, MAA Takaful managed to secure 138 cases (policies).
The product was launched early this month.
According to Salim, treating cancer is
expensive and the number of people dying from cancer is on the rise.
Worldwide every year, cancer strikes 11
million people, both adults and children, and six million die from it
annually.
Salim said in Malaysia currently, about
45,000 people had been diagnosed with this deadly disease. Cancer is the
second leading cause of death after heart disease in the country, he
noted.
The plan provides a protection coverage
from RM25,000 to RM500,000 and the contribution starts from as low as
RM67 per year. CancerCare is available from birth up to age 65 and is
renewable up to age 75.
The plan pays 25% extra on the total
benefits should it be lung, prostate, colon, small intestine and
nasopharyngeal cancer for male policyholders; and cervical, uterine,
ovarian, breast and vagina cancer for female policyholders.
Moreover, an advance of 25% of the
benefits would be paid if the person covered is diagnosed with the above
even at the stage of Carcinoma in Situ (pre-cancer).
It provides a tax relief of up to
RM3,000 and funeral expenses of RM10,000 is payable should the person
covered dies prematurely.
CancerCare also offers 50% surplus
sharing (if any) to participants (policyholders) if no claims are made.
On new products, Salim
said: “We are developing capital-protected, endowment and medical plans.
An innovative and specialised personal accident scheme is also in our
list of products to be launched this year.”
Ke atas
|
