MSIG Insurance Launches Groundbreaking Assisted Living Cover
MSIG Insurance (Malaysia) has introduced MSIG PA Add-On: Assisted Living, a pioneering option for its personal accident (PA) insurance policies. This innovative coverage marks the first time a general insurer in Malaysia has offered assisted living expenses under a PA insurance product, a benefit previously exclusive to life insurance.
The add-on provides financial support of up to RM5,000 per month for a maximum of 12 months per injury, covering nursing care expenses at registered nursing homes, care centers, or at-home care by licensed nurses. To qualify for a claim, a registered medical practitioner must certify that the policyholder is unable to perform at least three Activities of Daily Living (ADLs), including dressing, washing, toileting, mobility, transfer, and feeding. A follow-up assessment after six months is required to confirm continued eligibility.
Annual premiums for the add-on start at RM37. The coverage is available to Malaysians, permanent residents, work permit holders, and their dependents aged 16 to 59, with renewability up to 80 years old, subject to the type of PA policy held.
This new offering represents a significant development in Malaysia’s insurance landscape, expanding the scope of personal accident insurance to include critical assisted living expenses. By providing this additional coverage, MSIG Insurance is addressing a growing need for comprehensive protection in the Malaysian market.
