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Liberty Insurance has launched Liberty Tenang insurance plan in support of the government’s Perlindungan Tenang (PT) initiative and to maximise coverage for the population.
With the annual premium amounting to RM75 or more depending on the amount of coverage, the insurance firm said in a statement that Liberty Tenang is the best insurance plan in the market.
“This insurance plan comes with a maximum coverage of RM60,000 for accidental death, permanent disability or double indemnity due to public conveyance accident. This plan also covers medical expenses due to accidents, dental or corrective surgery, prostheses, wheelchair benefit, ambulance fee, funeral expenses and bereavement allowance,” the statement said.
At present, more than half of Malaysians are uninsured which has prompted the government to assist in making insurance coverage more affordable, especially for those in the lower-income bracket. In Budget 2022, the government announced that those in the B40 group are eligible for a RM75 voucher, redeemable for the purchase of a PT plan.
Liberty said the initiative is to ensure that more people will get insured, especially the road users. According to Police Traffic Investigation and Enforcement Department’s Chief Assistant Director, Bakri Zainal Abidin, one person dies from a road accident every 84 minutes. Such occurrences often leave victims in a lurch, especially financially, with no means of paying high medical bills or even funeral expenses.
It added that one of the most common reasons why so many are uninsured is because insurance is too costly. Therefore, Liberty Tenang is designed with an affordable price with different plans tailored to suit each individual’s need. Additionally, the Perlindungan Tenang initiative also calls for the Sales and Service Tax (SST) waiver and Stamp Duty exemption, applicable for all applicants. For the B40 segment, this will be on top of the RM75 voucher.
According to Liberty, there are no lengthy application forms to be filled for PT. Instead, with just a few clicks, a client can get insurance protection immediately. Similarly, claims processes are hassle-free and efficient with the options of making claims right from the phone, through a dedicated hotline.
“There is no one right insurance package for everyone as all needs are different. Most insurance plans are flexible as insurance companies understand the different expectations and financial burdens that each individual has,” it said, adding that the PT can be tailored to suit an individual’s needs.
There is a 15-day Free-look Period, where the policyholder can cancel the policy. The policyholder will receive a full refund of the premium paid, as long as no claim has been made within this period.
