Tune Protect Malaysia Introduces Its First Critical Illness Offeringby Fintech News Malaysia August 24, 2022 0 comments
Tune Protect Malaysia, the general insurance arm of Tune Protect Group, has launched its first Critical Illness Insurance offering Critical Safe+.
Critical Safe+ is an online health insurance which covers advanced stages of critical illnesses with affordable cost, flexible options and wide range of benefits to create awareness and appeal to the younger generation.
The new offering provides customers with the option to stack and customise their health coverage based on their lifestyle needs and budget.
Tune Protect said that it has a 3:3:3 commitment where customers can buy in 3 minutes, receive a response in 3 hours, and get their claims paid in 3 working days.
In conjunction with the launch of Critical Safe+, the company will pay an additional 1% of the sum insured if customers do not receive their claims in 3 working days from the approval date.
According to the National Health and Morbidity Survey 2019, data showed that only 22% of the population are insured with personal health insurance (PHI), with 36% of the uninsured population claiming that PHI is not necessary and a staggering 43% of them unable to afford PHI.
Jubin Mehta, Chief Executive Officer of Tune Protect Malaysia said,
“The current Malaysian economic climate is causing financial burnout on the working population. The increasing cost of living and escalating medical cost are not mirrored in the standard of living, where individuals are prone to health issues and illnesses.
The rising costs of healthcare facilities and result-oriented working lifestyles implies negligence on health. With Critical Safe+, customers can customise their insurance plan based on their budget and obtain the necessary financial protection against these critical illnesses. Leveraging on digital, we hope to expedite customers insurance journey and appeal to the millennials and zillennials.”