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Protection: The Gift That Endures

Liberty Insurance redefines Christmas gift-giving by promoting
the gift of insurance

The gift-giving tradition is synonymous to Christmas. It holds great significance for both the giver and recipient. It is said there is as much joy in giving as it in receiving – particularly in times of need such as these.  

This year is a chance for us to relook at gift-giving and see how we can make it more meaningful for our loved ones and those who are most in need. A priceless gift that endures – like the gift of financial and health protection, insurance is the perfect silent wish on your loved one’s wish-list that didn’t quite make it to Santa list. Yet perhaps it is the most important one on the list. Why?

Well, the National Health and Morbidity Survey (NHMS) 2019 reported that only 22% of the country’s population is insured with personal health insurance (PHI), and a staggering 43% of them unable to afford PHI.  Almost half of the country’s population does not have any means of supplementary financial coverage for medical treatment, other than existing tax-funded healthcare coverage provided by the government.

“Additionally, to date, as many as 737,500 of the country’s 16 million strong workforce is unemployed due to the global pandemic and economic crisis. Each one of us knows at least one loved one, neighbour, ex-colleague or friend who may have been counted among those who have been unemployed or facing income losses and may be among the uninsured and underinsured,” said Liberty Insurance Malaysia Berhad’s Chief Executive Officer, Mr Puneet Pasricha.

“In the face of job and income losses this year, Malaysians are waking up to the reality that insurance is indispensable: it is no longer just a good-to-have. Setback further by sickness – not limited to the pandemic, and the challenges of climate-related tragedies from floods to landslides, many are realising they cannot afford to get protection for themselves and their families,” he said, adding that more than medical health coverage, all facets of life needs adequate protection.

“It’s becomes even more crucial that insurance be made financially-accessible to all especially in challenging times and to encourage long term commitment,” he said.

Liberty Insurance Malaysia’s protection plans with affordable premiums make for noteworthy Christmas gifts:

  1. Liberty EzyPA:

Liberty EzyPA is a personal accident plan. Freak accidents are not “freak” as one would assume – they can be quite common. That’s why Liberty Insurance launched its Liberty EzyPA in November 2020. It ensures the insured enjoys 24-hour comprehensive coverage worldwide, at premium rates of as low as 8 sen per day, aside from 25% rebates and flexible coverage options. It covers medical expenses, ambulance fee, permanent disability, accidental death and funeral expenses (as a result of accidental death). 

  • Motor-related plans

Thankfully in Malaysia, motor insurance is mandatory. A motor insurance is as essential for the ownership of a brand new as it is for used car owners. While many would opt for the bare minimum, the cost of a life and limb in an accident is unimaginable. Three of Liberty Insurance’s comprehensive plans made available include:

  • Private car EZY Plus Comprehensive policy protects against bodily injury, permanent disability or death, while also covers medical expenses. The plan also provides for those venturing into become e-hailing drivers.
  • Motorcycle Comprehensive plan ensures protection against liabilities to other parties, as well vehicle damages caused fires and theft.
  • Motorist’s Companion Extra ensures motorists in need of additional coverage not available in conventional plans, including 24-hour towing service, minor roadside repairs, cosmetic surgery, international assistance in Singapore and Thailand, as well medical and funeral expenses.

The annual monsoon season in Malaysia, which brings with its torrential storms has made just about every home vulnerable to damage – be it due to flooding, windstorms, landslides or lightning. Also increased job losses and poverty rates have also resulted in more home break-ins and thefts. The plan is designed to ensure every home is covered against a myriad of perils from natural disasters, sudden impacts, accidents that may cause loss or damage to the house structure. Natural disaster includes fire, lightning, windstorm, earthquake and floods, while sudden impact includes damages caused aircrafts, road vehicles, animals and domestic gas explosions. The plan also covers damages incurred from bursting or overflowing water tanks and thefts or rental loss. Additionally, the insured can look forward to additional protection against subsidence, landslip, riot, strike, malicious, damage, and liabilities to third parties for accidents in the house.

So, before you make a beeline to the malls or get on to online shopping platforms to do your 11th-hour Christmas gift shopping, check out this new 2020 Christmas “enduring gift” option for your loved ones here – https://www.libertyinsurance.com.my/.

It is after all the new normal – try something new!