ANNOUNCEMENT

COVID-19 Financial Assistance For Policy Holders

General FAQs

1.  Does RHB Insurance medical & travel insurance plan cover for COVID-19 related expenses?
All RHB Insurance medical insurance products do not provide coverage for COVID-19 under the General Exclusions of Communicable diseases required quarantine by law (a.k.a pandemic). However, our Annual Travel Protector and Travel Protector Plus Insurance do not exclude contagious disease including epidemic or pandemic with the condition that you seek and abide by the advice of the relevant authorities regarding the health and safety travel advisory prior to your travelling.

1

Cov-Aid Premium Instalment Scheme offered by RHB during COVID-19

1. The scheme is by application, and approval will be evaluated on a case-by-case basis, based on the merits of each application.


2. The aim of this assistance is to preserve protection coverage for policyholders, individuals and SMEs, who face temporary financial constraints arising from the COVID-19 pandemic.

Eligibility

Individuals who are infected, subject to mandatory home quarantine or suffered a loss of income*; and

SMEs** which have suffered a loss of income as a result of the economic impact of the COVID-19 situation.

Premium due date from 1 January 2022 to 31 December 2022 (both dates inclusive).

Premium amount RM1,500 and above.

Existing and new policyholders can apply for this scheme.

All classes with insurance cover of more than 6 months, excluding motor.

*Examples of events that lead to loss of income: retrenchment, salary and commission cuts for individuals; and loss of business income for self-employed and SMEs.

**Kindly refer to Appendix 1.

FAQs

Eligible Classes
Personal Accident, Medical, Bond/Trade credit, Fire, Miscellaneous, Engineering, Liability, Marine cargo, Marine Hull, Package
Non Eligible Classes
Motor
1.  What documents are required for the application?

Application Form for Premium Instalment Scheme to be submitted via email or hardcopy with a brief description of how you have been affected by the COVID-19 pandemic including any loss of income; and


Documentary evidence of loss of income:

  • Individuals : Past 3 months’ salary slip, letter of retrenchment or termination.
  • SMEs : Any supporting documents.


You may submit through our agent, branches or our Customer Relationship Centre at:

RHB Insurance Berhad
Level 12B, West Wing, The Icon
No 1, Jalan 1/68F, Jalan Tun Razak,
55000 Kuala Lumpur
Tel: 1300 220 007
Email : rhbi.general@rhbgroup.com

2.  When do I know the outcome of the application?

If approved:

  • You will be notified via email on the Letter of Offer together with an Appendix on the terms and conditions of acceptance.
  • You will need to sign and return to us the duly signed Letter of Offer and Appendix, reaching us within the number of days as stipulated in the Letter of Offer.


If rejected:

  • You will be notified by email.
  • The outstanding premium becomes due immediately or as per the premium warranty period.


Processing of application will take up to 10 working days.
3.  How does the Instalment Scheme work?
Premium Due No. of Instalments
  • RM1,500 – RM 5,000
up to 3 months instalments
  • >RM 5,000
up to 6 months instalments

The first instalment will be payable within the month of the return of the duly signed Letter of Offer and Appendix.

4.  When do I start to pay the instalment premium?

If approved, the first instalment will be payable within the month of the return of the duly signed Letter of Offer and Appendix.


Subsequent instalments shall be made on or before the due dates, failing which, the balance of the premium will become payable in full.

5.  What would happen to my insurance coverage if I failed to pay the instalment?
The policy will be cancelled in accordance with the policy terms and conditions. However, your obligation to pay the premium for the time on risk remains.

Apply for RHB Cov-Aid Premium Instalment Scheme

Apply Now

2

Cov-Aid Premium Relief Scheme offered by RHB during COVID-19

Partial temporary relief in the payment of insurance premium by SMEs who are severely
impacted by the COVID-19 pandemic and the MCO.

1. The scheme is by application, and approval will be evaluated on a case-by-case basis, based on the merits of each application subject to a total fund of RM5 million in the scheme.


2. The aim of this scheme is to preserve protection coverage for our policyholders who face temporary financial constraints arising from the COVID-19 pandemic.

Eligibility

SMEs* which have suffered a loss of income as a result of the economic impact of the COVID-19 situation.

SMEs with policies inception date between 1 January 2022 to 31 December 2022 (both dates inclusive), subject to the availability of funds under the scheme.

New and existing policyholders can apply for this scheme.

*BNM definition of SME has been simplified under 2 categories:

1. Manufacturing: Sales Turnover not exceeding RM50 million OR full-time employees not exceeding 200 workers ; and

2. Services and Other Sectors: Sales Turnover not exceeding RM 20 million OR full-time employees not exceeding 75 workers.

FAQs

1.  What classes of insurance are applicable?
All classes of insurance are generally applicable, however, the Company reserves the right to exclude any particular class or classes of insurance.
2.  How does the COV-AID Premium Relief Scheme work?

  • The percentage of premium relief will be in a range of 10% to 50%, depending on the degree to which the customers are affected by the COVID-19.
  • Maximum relief per customer is RM5,000. There is no limit to the number of policies that may qualify by the SME.
  • Applicable for policy premium amount of more than RM1,000.
  • The premium relief is on gross premium before service tax and stamp duty.

3.  How to apply for the COV-AID Premium Relief Scheme?

  • Application Form for Premium Relief Scheme to be submitted via email or hardcopy with a brief description of how you have been affected by the COVID-19 pandemic including any loss of income; and
  • Supporting documents for evidence of loss of income.
  • Only premium on policies due for renewal within 3 months of the application date will be considered for relief. A separate application must be made for premium relief for these policies when they become renewable within 3 months.

You may submit the application through our agent, branches or our Customer Relationship Centre at:


RHB Insurance Berhad
Level 12B, West Wing, The Icon
No 1, Jalan 1/68F, Jalan Tun Razak,
55000 Kuala Lumpur
Tel: 1300 220 007
Email : rhbi.general@rhbgroup.com

4.  When do I know the outcome of the application?

If approved:

  • You will be notified via email on the Letter of Offer together with an Appendix on the terms and conditions of acceptance.
  • You will need to sign and return to us the duly signed Letter of Offer and Appendix, reaching us within the number of days as stipulated in the Letter of Offer.

The approval for relief is one-off and for each premium payable, and is not a percentage discount/relief on the policy. Therefore, subsequent endorsements will not be automatically entitled to the same discount/relief. Relief for each subsequent endorsement which carries an additional premium is subject to approval by the Company.


If rejected:

  • You will be notified by email.
  • The outstanding premium becomes due immediately or as per the premium warranty period.


Processing of application will take up to 10 working days.

5.  What would happen to my insurance coverage if I fail to pay my portion of the premium?
You are still responsible to pay the total premium less any premium relief in accordance with the terms and conditions of the policy, failing which the Company reserves the right to cancel the policy in accordance with the terms and conditions of the policy. Just to make it doubly clear, any premium relief granted shall not be deemed as premium paid for the policy.
6.  What happens if I decide to cancel or reduce the sum insured or coverage of the policy subsequently? Am I entitled to any premium refund?
In the event of premium refund arising from endorsement or cancellation, the refund amount shall be computed on the portion of premium paid or payable by the Insured, without regard to the amount of premium relief granted.

Apply for RHB Cov-Aid Premium Relief Scheme

Apply Now

3

Closure of claims for COVID-19 Test Fund

We wish to inform that the COVID-19 Test Fund reimbursement of RM10 million has been fully utilized and is officially closed now. For more information, you may visit www.myctf.my or call MyCTF Hotline number at 15500 / 1-300-22-11-88.