Y.B Hannah Yeoh, Deputy Minister of Women, Family and Community Development officiated the launch of Etiqa’s first-in-Malaysia critical illness rider with mental illness coverage, IL CI Plus (Investment-Linked Critical Illness Plus rider) today. The rider can be added on to the basic SecureLink Investment-Linked insurance plan, and covers 68 critical illnesses, which includes a newly added one for mental illness.
Moderated by actress and TV host, Daphne Iking, a mini forum was held at the event, entitled, “Breaking the Silence on Mental Illness” which featured Datin Diana Danielle, media celebrity, Dr. Norhayati Nordin, Director of Bahagia Hospital, and Shahrul Azuan Mohamed, Chief Agency Officer of Maybank Ageas Holdings Berhad on the panel.
The National Health and Morbidity Survey 2017, conducted by the Ministry of Health, indicated that 27% of the population were suffering from mental illness. Mental illness has many repercussions as it is a disability which is an important risk factor for other diseases, as well as unintentional and intentional injury, according to the World Health Organization (WHO).
Y.B. Hannah Yeoh, Deputy Minister of Women, Family and Community Development, said, “I would like to commend Etiqa for being the leading Malaysian insurer to have gone above and beyond the industry trend to recognize mental illness as an illness that can be covered by insurance. Mental illness can be costly to treat, as it not an illness that can be cured overnight. With insurance coverage, that burden can be lessened. The Ministry hopes that with Etiqa taking this step towards providing coverage for mental illness, more insurers in this country will follow suit.”
Acknowledging the growing concern of mental illness in Malaysia, Etiqa has carefully put together a critical illness rider that covers four types of mental illnesses;
- Bipolar Affective Disorder;
- Major Depressive Disorder;
- Schizophrenia; or
- Schizoaffective Disorder
Eligibility for coverage is straight-forward and easy. As long as the customer is accepted by Etiqa, he or she will be eligible for cover, subject to the normal underwriting process. The range of coverage is between RM1,500, and up to a maximum of RM30,000 depending on the rider sum insured selected. Most beneficial to the policy holder is that Etiqa does not define how this amount is to be used, thus the policy holder may use it for consultation fees, medication, or hospitalization, as they see fit.
“Mental illness is a subject that is difficult to ignore, given the rising statistics in the number of men and women in the country who are afflicted with some form of mental disorder. We are proud to be the first insurer in the country to launch an insurance rider of this nature. IL CI Plus is unique in the market, as not only can the sum insured be high, but the policy holder can determine for themselves how they wish to use the payout, and tailor it to their medical needs,” said Shahrul Azuan, Chief Agency Officer of Maybank Ageas Holdings Berhad.
“At Etiqa, we believe in the philosophy of humanizing insurance and takaful. We are about helping people, and delivering upon promises made, and what better way to prove this than by creating insurance products that cover a person’s overall wellbeing holistically?” he said.
SecureLink Investment-Linked Insurance is a flexible plan with comprehensive coverage, offering key benefits, such as comprehensive add-ons, continuous cover, loyalty bonus, and death & disability benefits. For more information, visit www.etiqa.com.my or call Etiqa Oneline at 1300-13-8888.