Critical Illness Cover - Explained

A serious illness, such as cancer or heart attack, affects one-in-four women and one-in-five men before retirement age. 

Critical illness insurance is designed to ease the financial pressures by paying a tax-free lump sum if you become seriously ill or totally disabled. You must normally survive at least one month after becoming critically ill, before the policy will pay out. 

What it covers
 
Originally known as 'dread disease cover', critical illness insurance pays benefits on the diagnosis of certain specified critical illnesses. The range of diseases covered has increased to  30, though contracts differ from one company to another. 

All policies should cover seven core conditions. These are cancer, coronary artery bypass, heart attack, kidney failure, major organ transplant, multiple sclerosis and stroke. They will also pay out if a policyholder becomes permanently disabled as a result of injury or illness. 

There are also more restrictive conditions for heart attacks. There has to be evidence of typical chest pain, or changes in the electrocardiogram (ECG), for example, if a claim is to be successful. Cardiac conditions, such as angina, will not be covered. 

For single people with no dependents, critical illness cover that pays off the mortgage is more important than having life cover, as it means you have fewer bills or a lump sum to play with if you are very unwell. 

But it can also be useful if you are part of a couple. It provides a welcome financial boost at a time of emotional stress and financial hardship.

 

 

The details
 
Most providers allow people to take out cover between the ages of 17 and 70. It can be for a specified number of years - as long as your mortgage, for example - or for life. Or you can just take out a policy and keep it going for as long as you choose. 

Getting covered
 
To take out critical illness cover you will need to complete a proposal form. You will be asked if members of your family have suffered major illnesses in the past. If they have, your policy may be rated, which means you will pay higher premiums or will not be covered for certain conditions. 

You may need a medical before being accepted for cover, but this does not necessarily mean you will have to pay higher premiums. You pay more if you are a smoker. 

Not all illnesses are covered. Some of the most common exclusions include HIV/Aids, drug misuse, self-inflicted injury and criminal acts. 

IMPORTANT: Be honest about your medical history
 
It is vitally important that you are honest and give the insurer the most complete information you can when applying for health related insurance. 

If you need to claim - i.e. the time you actually want the insurance to work - the insurer will trawl through your medical history for details that you neglected to tell them when you applied. If they find such information, they could refuse your claim.
It might make your insurance more expensive, but in the long run it could the difference between getting a pay out or nothing. 

Making your choice
 
Choosing the right plan can be tricky. There are more than 16 providers offering various versions of critical illness insurance. 

Policies vary widely in the illnesses they cover so don't simply opt for the cheapest plan because it will probably offer limited cover. On the other hand, don't go for the policy that covers everything from anthrax to yellow fever -it may not be the most appropriate. Policies that appear to cover every serious illness imaginable are sometimes merely an excuse for the insurer to charge higher premiums. 

Buying critical illness cover
 
The sale of critical illness cover often accompanies an important life event, such as buying a house or having children. 

When borrowers take out a mortgage, the lender may well try to sell critical illness cover, as well as life assurance or income protection, on top of the mortgage. 

It will rarely pay to accept the insurance they are offering. It is unlikely that the seller will be able to offer you the best of what is on offer from the insurance market, and there is no reason to assume it will be priced competitively. 

ING Insurance can provide a list of Critical Illness policies, you can contact me on +6 (012) 634 9414. 


Making a claim
 
Payment is generally made within 30 days of a serious illness being diagnosed though in the event of permanent disability it will take longer - usually six months to a year. 

Critical illness insurance is different to Income Protection (also known as permanent health insurance).

Using your payout
 
How you use the benefits is entirely up to you. They may be used to pay off a mortgage or clear outstanding debts. They can also help to pay for childcare or home help. 

Crucially, benefits from a critical illness policy give you time to come to terms with your condition and decide what changes you want or need to make to your life. 

If you change your mind
 
Most policies should have a 14-day cooling off period when you can change your mind. If you contact the insurer and cancel the policy in this time you should receive a full refund of your first premium.

Contact me to enquire about ING Premier Critical Illness at :

Anuradha .R

+6 (012) 634 9414

engineer2207@gmail.com

Can I Afford a House, Car, and Vacation?

Houses, cars, and vacations are three big-ticket items that almost all of us want at some point, but when can we afford them? To help you decide just how much you can afford, we spoke to seven experts about how to make these decisions, as well as the most common mistakes that land people in trouble. Here's your guide to deciding what you can afford—and what you can't:

Can I afford a house? 

Factors to consider: Whether you're ready to make a sizable downpayment (15 or 20 percent), how long you plan to stay, and if you can handle additional expenses such as maintenance costs—as well as swings in the real estate market—all play a role in whether it's a good time to buy.

The hidden costs: "The purchase price of a home is only a wee part of the real cost of buying a home," says Carmen Wong Ulrich, author of The Real Cost of Living. Aside from closing costs, insurance, and fees, buyers also take on the risk of the housing market. If the value of your home goes down, the value of your assets falls. That's why Ulrich says you should also consider the stability of your job, the neighborhood, schools, and the overall state of the housing market in the area before taking the plunge.

Elisabeth Leamy, Good Morning America's consumer correspondent and author of Save Big: Cut Your Top 5 Costs and Save Thousands, recommends that renters only buy a house if the mortgage payment will be similar to their rent payment. That way, she says, "If you can afford your rent payments, you will be able to afford your house payments. It's that simple." (She created a calculator that crunches the numbers for you.)

For some people, though, even that amount can be too high, says Psych Yourself Rich author Farnoosh Torabi. "You need to remember that owning a home involves some extra expenses, namely taxes, common charges, and upkeep. If a pipe breaks loose, there's no super or landlord to cover the cost. It's all coming out of your pocket."

Common mistakes: 

1. Moving within a few years. Buying a house generates a lot of transaction costs; financial expert Manisha Thakor estimates that they can add up to around 10 percent of the total purchase price. That means you want to live in the house long enough for price appreciation to offset those costs, she says. One rule of thumb is to plan on settling in for at least five years.

2. Borrowing the maximum amount allowed by the bank. It's tempting to take banks up on their pre-approval offers, but the problem is that they don't always factor in your future income changes. If you start a family and one spouse stays home, for example, your household income could easily be cut in half. "You want to factor that in before you buy," says Thakor.

3. Forgetting to look beyond the numbers. "You might be able to financially afford to buy a home, but is it worth it to you? If you enjoy a transient lifestyle, then it might not be," says Torabi.

Laura Vanderkam, author of 168 Hours: You Have More Time Than You Think, adds that the less you spend on your house, the more you'll have for other enjoyable activities, such as trips, dinners out, and entertainment. "Those things might actually make you happier than a more expensive house," she says.

Can I afford a car?

Factors to consider: Your lifestyle, maintenance costs, and personal preferences all play a role in deciding whether it makes sense to buy a car.

The hidden costs: Depreciation means that the moment you drive your new purchase off the lot, its value plummets. That's why Ulrich asks why anyone would bother purchasing a new car. "Imagine what else you could do with those thousands of dollars," she says. Instead, she recommends buying certified pre-owned vehicles.

Anyone taking out a car loan needs to consider the interest payments and the length of the term, says John Sternal, vice president of LeaseTrader.com. Before deciding whether to lease a car or buy one, he recommends asking yourself how long you want to drive the car, and how often, since people who prefer to drive new cars for relatively short periods of time often save by leasing instead of buying.

Common mistakes: 

1. Failing to maintain it properly. Maintenance isn't free, but it's worth it, says Ulrich, because it helps cars retain their value. "Make the kids clean up after themselves, get it detailed every season, and stay on top of maintenance schedules," she says. That way, you'll get more money when and if you trade it in, and you'll save on repair costs down the road.

2. Losing at the dealership. After your initial meeting with the salesperson, walk away to give yourself time to think, says Sternal. Car salespeople are notorious for using various methods to get people to commit to purchasing. Patient buyers are more likely to come out ahead. By leaving the showroom, you'll be able to think without any pressure and you might even get a call with a better deal. Also, he recommends researching your financing options ahead of time so you don't have to accept the terms offered by the dealership. Cleaning up your credit report in advance—by getting rid of errors that are dragging down your score—can also help you score a better interest rate.

3. Ignoring gas and maintenance. These costs depend on the type of car as well as your lifestyle; choosing a fuel-efficient vehicle with a reputation for quality can help minimize them. Car insurance is another big factor; consider shopping around to get the best deal.

Can I afford a vacation?

Factors to consider: "Travel is a wonderful way to boost happiness. We savor the anticipation, and then we savor the memories afterwards," says Vanderkam. To avoid also savoring credit card bills, she recommends saving up before the trip to make sure it fits into your overall financial picture. "You don't want those memories spoiled by debt," she says. You might also be able to find other creative ways to cut costs, such as asking for relatives' frequent flier miles as a gift, or staying with friends in foreign cities.

Torabi suggests putting aside 2 to 3 percent of your take-home pay for an annual vacation, because even though it's discretionary, it can be money well-spent.

The hidden costs: In addition to basic costs such as airfare and hotel accommodations, Ulrich recommends factoring in an additional 25 or 50 percent of your overall budget for food, drink, and local transportation. She recommends doing as much advance research as possible to make sure you're getting the best deal and aren't surprised by unexpected expenses. Entrepreneurs face the added cost of losing out on income while they are away.

Common mistakes: 

1. Charging it. Thakor says that if you can't afford to pay for your vacation in cash, don't take it. "A vacation is a luxury," which means it doesn't belong on your credit card, she says.

2. Not planning ahead. This advice is aimed especially at self-employed people who don't automatically earn vacation days. "The trick is to plan it as soon as humanly possible, even a year or more ahead of time, so you can save for it and also make sure your projects and clients are prepared," says Michelle Goodman, author of The Anti 9-to-5 Guide.

3. Forgetting to give yourself a time cushion. Goodman recommends leaving a day after you return home to catch up on e-mail, errands, and other administrative details that get ignored when you're away. Some people even tell clients they're returning a day later than they actually are, to give themselves this buffer.

Bottom line: Big purchases carry hidden costs—but also big rewards. Knowing what you're getting into before parting with your cash can help you avoid costly mistakes.

Source: http://money.usnews.com

5 Myths About Generation Debt

The term “generation debt” tends to get thrown around a lot when it comes to describing today’s young professionals. Media pundits—especially older ones who have long paid off their own student loans—like to point out that we carry a lot of debt and spend more than our paychecks. But is that really true?

we don’t deserve that label anymore. Here are five myths—and truths—about our generation and money.

5. Myth: We’re clueless about finances.

Truth: It turns out we know a lot—in some cases, more than our parents’ generation. A survey by the online brokerage firm Scottrade found that the recession actually inspired 20-somethings to educate themselves about how the economy works as well as to learn more about their own personal financial situations.

In addition, a higher percentage of respondents said they’re doing more research before investing relative to older groups. Scottrade reports that part of the reason we’re excelling at managing our money is because we see it as fun, instead of a tedious obligation.

4. Myth: We’re depressed about our financial future. 

Truth: It’s true, we’ve had it rough: We’ve experienced two recessions before we’ve even hit our career strides (first from the dot-com bust, then from the real estate implosion) and unemployment is highest among young adults—an astounding 37 percent of people between the ages of 18 to 29 are unemployed or out of the workforce.

But we still manage to stay upbeat about our futures, an essential skill if we’re going to ride out these challenges. According to the Pew Research Center, only three in ten young people say they earn enough money to lead “the kind of life they want,” while nine in ten say they believe they will be able to do so in the future. Only 76 percent of Gen Xers and 46 percent of Baby Boomers say the same thing.

3. Myth: We waste our money on frivolous purchases. 

Truth: We care less, not more, about brand names and keeping up with the latest fashion compared to older generations. Surveys taken since the recession show that 20-somethings report caring less about following the latest trends and styles, preferring a newer, frugal mindset. A survey by TNS Retail Forward found that shoppers in their 20s and 30s were most likely to buy the least expensive versions of products. Part of that comes from the fact that we’re savvy consumers—we grew up knowing how to use the Internet to find the best deal, and we don’t hesitate to use it.

2. Myth: We earn less than our parents did at our age.

Truth: In many ways, we’re the richest generation to have existed. Yes, we face a relatively high unemployment rate, but the jobs we do have come with record benefits—largely health insurance-related. Studies by the Federal Reserve Bank of Minneapolis show that after you adjust for inflation and benefits, median compensation rates have increased 28 percent since 1975.

That helps explain why a Pew survey—taken after the recession—found that 60 percent of respondents under the age of 40 say their standard of living is better than that of their parents at the same age. Just 15 percent said it was worse.

1. Myth: We deserve the name “generation debt” because we have so much of it. 

Truth: Yes, many of us carry student loan debt. And some of us carry monster credit card debt. But we’re not defined by it, because there’s so much more on our minds. We want to own nice homes, feel financially successful, support our families, one day send our kids to college, and change the world at the same time. Although we may now have some money to invest, our goals involve far more than just becoming rich.

The financial crisis of 2008 dovetailed with a growing interest in sustainability, simplicity, and even frugality. Instead of living exclusively for our own pleasures, we have embraced a new level of social consciousness. We care about the environment, our cities, and social justice.

The bottom line? We don’t need to resign ourselves to lives defined by debt. We can earn more, save more, and live more richly—largely because we’ve redefined what “rich” means.

Source: http://money.usnews.com/

Celebrities With the Biggest Money Problems

When it comes to money, celebrities are just like the rest of us—they spend too much, save too little, and make plenty of poor money choices. In fact, their unpredictable incomes and expensive lifestyles can put them at even greater risk than the average person for financial downfall. These eight celebrities are among the most monetarily-challenged.

Toni Braxton

Toni Braxton filed for bankruptcy last year for the second time, and she owes as much as $50 million to companies including AT&T, Tiffany, and the Four Seasons. The famous singer has also faced liens from the IRS for unpaid taxes. Her financial troubles are now back in the spotlight as she stars on her family’s new reality TV show on WE TV.

Stephen Baldwin

In 2009, the youngest Baldwin brother filed for bankruptcy, which revealed he had more than $2 million in debt. Although he’s starred in various reality television shows and serves as a frequent spokesperson in the media, his spending seems to consistently outpace his earnings.

Britney Spears

Spears’s 2008 divorce filings showed that the pop star saved none of her $737,000 monthly income. Instead, she spent it on her homes, restaurants, and entertainment. After her more recent career comeback and her father’s guardianship over her, she appears to be getting her finances under better control.

Nicolas Cage

The actor has owned multiple homes (as many as 15 at once), almost two dozen cars (including nine Rolls Royces), and pricey art and jewelry, according to the celebrity website TMZ.com. Indeed, his lifestyle costs an estimated $30 million a year to maintain, according to his former manager. He’s also clashed with that manager in court over mismanagement accusations, but the lawsuits have now been settled.

Annie Leibovitz

The famous photographer ran into trouble after her partner, Susan Sontag, died, and Leibovitz was unable to inherit her estate without paying huge estate taxes. But Leibovitz’s financial troubles, which culminated in $24 million in debt, also came from unpaid taxes, outstanding rental equipment fees, an uncompleted book deal, and renovation payments.

Sarah Ferguson

After divorcing Prince Andrew, the Duchess of York was given an allowance, estimated to be worth around $24,000 a year. She also wrote books and rang up endorsement deals, but she was unable to afford her lifestyle and ran into such financial trouble that she was caught appearing to sell access to her famous family last year. She is now rebuilding her life, as her Oprah Winfrey Network show Finding Sarah documents.

Donald Trump

The real estate tycoon is known for exaggerating his net worth, which is estimated at around $1 billion. (Trump himself has said it is closer to $3.5 billion.) He has filed for corporate bankruptcy four times, most recently in 2009, which he has described as a valid business strategy.

Lindsay Lohan

In addition to her jail time and drug charges, Lohan is known for her big-spending ways. She’s purchased $30,000 Rolex watches and a $100,000-plus Maserati. She’s also struggled to match her earlier earnings since her personal troubles have prevented her from scoring as many starring roles.

Source: http://money.usnews.com

Rich People Stressed About Retirement Too

Their concerns might be laughed (or booed) out of an Occupy encampment, but affluent Americans are also feeling the pinch of hard times, especially when it comes to retirement. A new survey by Wells Fargo found that even wealthy Americans are increasingly worried that they won’t be able to comfortably retire.

It might be hard to sympathize with people who own $100,000 or more in investable assets (Wells Fargo’s definition of affluence), but the survey results suggest deep-seated anxiety, even among the rich. Consider these findings:

• More than one-third of the affluent respondents said they needed to “significantly” scale back spending to save for retirement.
• Four in 10 respondents said they worry that even if they “do all the right things,” they still won’t have enough saved for retirement—a fear likely fueled by the dismal stock market returns of the last decade.
• One in four said they are not sure they will be able to save enough for retirement. Those without written retirement plans were especially likely to worry about that. About 54 percent of the affluent respondents said they had detailed written retirement plans, compared with 30 percent of middle-class respondents.
• One in five respondents between ages 60 and 75 were not sure when they would be able to retire, with 12 percent saying they will need to work until age 80 or older. (By comparison, about 25 percent of middle-class Americans say they will work until age 80 or older.)

• Almost one-third of respondents named healthcare bills as a top financial concern, followed by monthly bills.
• Women are less confident about affording retirement than men; one in three female respondents said they aren’t confident they will have enough saved to retire, compared with 18 percent of male respondents.
• The affluent men surveyed had saved a median of $400,000 for retirement, compared with the $250,000 saved by affluent women. Men are also more likely to receive a pension, with 57 percent anticipating one compared to 47 percent of women. (Older respondents, age 60 and up, were also far more likely to have pensions than younger respondents.)

The bottom line: Americans across all income levels are stressed about retirement at a time of weak stock market returns, rising healthcare costs, and a stagnant job market.

Source: http://money.usnews.com

6 Best Money Tips for Young People

When you start earning a steady income for the first time, it's easy to spend too much on luxuries or to take on debt. But it's also the best time to set yourself on the path toward wealth.

Save one-third of your income. Putting $1 out of every $3 you earn into the bank might sound like a lot, and it is. At some times in your life, such as shortly after graduation or upon the birth of a child, when your budget is strained to capacity, it's impossible. But at some point, it will become not only possible but essential to creating stability in your financial life. That's because significant savings are the only way to weather the inevitable tough periods, such as layoffs, as well as move toward longer-term dreams, such as starting our own business. Yes, saving such a big chunk of money each month means sacrificing some comforts and indulgences in the short term, but it's the only way to get closer to that ultimate goal of financial security.

Don't scrimp on career-related investments. There's one area where it's okay to be a spendaholic, and that's when it comes to investing in your future earning power. The category includes not only education expenses, but also voice lessons for an aspiring podcaster, how-to books for those with potentially lucrative hobbies, and a new wardrobe for office workers who need to impress the higher-ups. Even hiring a maid service is an investment in your future if you use the extra time it creates to work on your writing or website.

Cultivate your most ambitious dreams. The primary reason many people don't reach their long-term financial goals is that they fail to ever articulate—even to themselves—what those goals are. Do you want to quit your day job and knit full-time? Or open the next big cupcake shop? Or star on your own reality television show? If you're having trouble putting your finger on it, ask the people who know you best. Brainstorming with your significant other, family members, and friends can help shake loose your own thoughts.

Pay off all but your cheapest student loans early. Student loans that carry a 5 or 6 percent interest rate (or higher) are costing you much more than your savings can earn in this current low-interest rate environment. That means paying off a chunk of your student loans will immediately start saving you more money than you could if you continue to make those slow and steady monthly payments. Of course, not everyone has the cash to pay off a large portion of their loans, and it will probably take five-plus years after graduation to get to the point when you can even consider it. But once you have a healthy bank account, don't wait too long to start paying off big chunks of those more expensive student loans.

Don't wait to invest until you have "extra money." Waiting to start a retirement account until you feel like you can afford it might mean that you can never retire. Don't wait to open up a 401(k) account if your employer offers it, even if you start by contributing just 2 percent of your salary. Soon, you can raise that percentage to 4 percent, and eventually to 10 percent or higher. For extra motivation, plug your numbers into a retirement calculator on bankrate.com, and see how much you need to fund your golden years—it's probably much more than $1 million.

Give back—on your own terms. Companies know that we want to make a difference in the world, and they want to profit off of that desire. That's why so many of them are cashing in on the $600 billion plus "green" industry by claiming to be environmentally friendly when they're not. It's so common that it has a name: "greenwashing." Don't be fooled by all-natural labeling; investigate why the company is claiming to be good for the earth before spending your money. A similar lesson applies to giving to charitable donations: Use Charity Navigator to check the background of your chosen organization before donating any money to make sure it's going to use the money the way you want it to.

8 things your hospital won't tell you

A hospital is supposed to make you better, but you may not feel too well after reading this. Some words of advice: Be your own health care advocate.

1. "Oops, wrong kidney."

In recent years, errors in treatment have become a serious problem for hospitals, ranging from operations on wrong body parts to medication mix-ups.

Though the system is improving, it still has a long way to go. Patients should always have a friend, relative or patient advocate from the hospital staff at their side to take notes and make sure the right medications are being dispensed.


2. "Getting out of the hospital doesn't mean you're out of the woods."

A study released recently by Resources for the Future, a nonprofit group that conducts independent research on public health issues, says infections of sepsis and pneumonia acquired in the hospital may kill 48,000 people each year. What's more, the study shows, these infections cost $8.1 billion to treat and lead to 2.3 million total days of hospitalization.

 For all of modern medicine's advances, the best way to minimize infection risk is low-tech: Make sure anyone who touches you washes his or her hands. Tubes and catheters are also a source of bugs, and patients should ask daily if they are necessary.

3. "Good luck finding the person in charge."

In a sea of blue scrubs, getting the attention of the right person can be difficult. Who's in charge? Nurses don't report to doctors but rather to a nurse supervisor. And your personal doctor has little say over radiology or the labs running your tests, which are managed by the hospital. Some facilities employ "hospitalists" -- doctors who act as a point person to conduct the flow of information. Most hospitals now have rapid-response teams -- specialized personnel who can rush to the bedside to assess a declining patient. Haskell urges patients to know the hospital hierarchy, read name tags, get the attending physician's phone number and know how to reach the rapid-response team. If all else fails, demand a nurse supervisor -- likely the highest-ranking person who is accessible quickly.


4. "Everything is negotiable, even your hospital bill."

When it comes to getting paid, hospitals have their work cut out for them. Medical bills are a major cause of bankruptcy in the U.S., and when collectors are put on the case, they take up to 25% of what is reclaimed, according to Dr. Mark Friedman, the founder of billing consultant Premium HealthCare Services. That leaves room for some bargaining.

5. "Yes, we take your insurance, but we're not sure about the anesthesiologist."

The last thing on your mind before surgery is making sure every doctor involved is in your network. But because the answer is often no for anesthesiologists, pathologists and radiologists, what's a patient to do?

 If you're alert enough, ask for someone in your network. If you're seeing a physician or going to any medical facility, call your insurance company for a current list of network physicians, hospitals and labs. Also, if the referral appointment is being made by your primary-care physician, request the scheduling staff to find specialists, hospitals and labs in your network.

6. "Sometimes we bill you twice."

Crack the code of medical bills, and you may find a few surprises: charges for services you never received or for routine items, such as gowns and gloves, that shouldn't be billed separately. Clerical errors are often the reason for mistakes. One transposed number in a billing code can result in a charge for placing a catheter in an artery versus a vein -- which can come to a difference of thousands of dollars.

7. "All hospitals are not created equal."

How do you tell a good hospital from a bad one? For one thing, nurses. When it comes to their own families, medical workers favor institutions that attract nurses. But they're harder to find as the country's nursing shortage intensifies; by 2020, there will be a deficit of about 1 million nurses. Low nurse staffing directly affected patient outcomes resulting in more problems, such as urinary-tract infections, shock and gastrointestinal bleeding.

Another thing to consider: Your local hospital may have been great for welcoming your child into the world, but that doesn't mean it's the best place to undergo open-heart surgery. Find the facility with the longest track record, best survival rate and highest volume in the procedure; you don't want to be the team's third hip replacement.

Source: http://money.msn.com/

Allianz Motor Insurance

At Allianz General Insurance Company (Malaysia) Berhad "AGIC", obtaining a motor insurance cover is so easy and hassle free because our extensive network (36 branches and more than 6,000 agents) are well equipped to serve you as an individual and also as a corporate client. Also, with our selected panel of authorized workshops providing quality and prompt repairs, you can rest assured that your prize possession is in good hand.

Types of Vehicle Policy

• Private Cars
• Motor Cycle

Commercial Vehicles	Motor Trade (Road Risks)
	Goods Carrying Vehicles
	Public Taxis
	Hire Cars
	Buses
	Special Types (Construction or Forestry vehicles)

Types of Cover

Comprehensive Features

• Loss or damage to the insured vehicle and its accessories and spare parts
• Liability for damage to others vehicle and property caused by insured vehicle
• Legal Liability for death or bodily injury to any third party person

Under comprehensive cover the following benefits are available for an additional premium:

• Windscreen
• Strike, Riot & Civil Commotion (SRCC)
• Flood, typhoon or other convulsion of nature
• Legal Liability of Passengers (LLP)
• Legal Liability to non-fare paying passengers (LLNP)
• Additional Driver

Third Party, Fire & Theft Features

• Legal Liability for death or bodily injury to any third party
• Legal liability to third party property loss or damage
• Loss or damage to the insured vehicle as a result of fire and theft

Third Party Liability Only Features

• Legal liability to third party property loss or damage
• Legal liability for death or bodily injury to any third party person

Allianz Travel Care

There are so many preparations when planning a holiday abroad, but many of us miss an essential part of the planning – travel insurance.

Many travellers assume that they will be covered by their standard medical plan when traveling. The truth is, while traditional plans may offer adequate domestic coverage, they may not be designed for international travel.
 
Allianz Travel Care  is your perfect travel mate that provides you and your family coverage internationally; 24 hours a day, 7 days a week, 52 weeks a year! 
 
So the next time you plan a holiday, you worry about your preparations, while Allianz General Insurance Malaysia Berhad takes care of your travel insurance needs!
 
Features of Benefits

• Accidental Death & Permanent Disablement
Allianz Travel Care insurance includes benefits for Accidental Death and Permanent Disablement occurring during the Period of Coverage.
• Medical Expenses & Other Expenses
We will reimburse the actual necessary and reasonable medical, surgical or hospital charges and emergency dental treatment charges incurred as a result of bodily injuries, illness or death during the journey including repatriation costs, outside your home country for Overseas/Annual Cover. Domestic cover shall be limited to reasonable medical, surgical or hospital and emergency dental treatment incurred as a result of accidental bodily injuries within Malaysia.
• Emergency Medical Evacuation & Repatriation
Allianz Travel Care insurance includes coverage for Emergency Medical Evacuation to the nearest qualified medical facility, expenses for reasonable travel and accommodation resulting from the evacuation and the cost of returning to either the home country or the country where the evacuation occurred up to the Policy Limit.
• Follow up Treatment
• Hospital Income
Payable if you are admitted to a registered hospital abroad due to accidental bodily injury or illness sustained during the journey for Overseas/Annual Cover. Domestic cover will pay you if you are admitted to a registered hospital in Malaysia due to accidental bodily injury sustained during the journey.
• Funeral Expenses
• Compassionate Care
• Child Care Benefit
• Despatch of Medicine
Despatch of the necessary medication not available locally in case of emergency and when local laws, rules and regulations allows such despatch.
• Deposit or Trip Cancellation
We will reimburse for loss of irrecoverable expenses paid in your home country if your planned trip is cancelled due to hospitalisation for serious illness or bodily injury, death or other fortuitous caused beyond your control to you and/ or your immediate family.
• Curtailment
If you need to curtail the trip due to hospitalisation for bodily injury or illness or death of your immediate family member or traveling companion, you will be compensated for any irrecoverable prepaid charges.
• Personal Luggage or Personal Effects
We cover the cost of repair to your damaged luggage and/or personal effects or loss thereof during the journey.
• Loss Of Travel Documents
In the event of theft or accidental destruction of your passport and/ or travel documents, we will reimburse necessary replacement costs, additional accommodation and traveling expenses incurred during your journey.
• Notebook Computer
• Luggage Delay
If your luggage is delayed for at least 6 hours from the time of arrival at scheduled destination outside your home country during the journey, we will reimburse you for purchase of essential items such as toiletries and clothing.
• Travel Delay
In the event the scheduled sea- going vessel, aircraft or train in which you are booked to travel is delayed for at least 6 hours, we will compensate whichever is stated in the Schedule of Benefits.
• Misses Departure
If as a result of failure of public transport services to get you to the departure port, airport or train station (as stated your ticket), we will reimburse the necessary and reasonable accommodation and travel costs incurred in reaching your original destination or returning home.
• Missed Travel Connection
Compensation if your confirmed onward connecting scheduled aircraft, train or sea vessel is missed at any single transfer point due to the late arrival of the incoming scheduled aircraft, train or sea vessel and no alternative onward transportation is made available to you for at least 8 hours from the actual arrival time.
• Travel Overbooked
Compensation if your confirmed onward connecting scheduled aircraft, train or sea vessel is overbooked by the scheduled carrier company as a result a delay in departure of the onward scheduled aircraft, train or sea vessel and no alternative onward transportation is made available to you for at least 8 hours from the actual departure time.
• Additional Costs of Rental Car Return
For the additional costs of car rental for which you are liable under the car rental agreement if you are unable to return a hire car or campervan from a licensed rental agency to the nearest hire depot due to your injury or serious illness which requires hospitalisation.
• Personal Liability
We will pay for your legal liability to third parties for injury and/ or loss of or damage to property.
• Hijacking
Compensation for delay or interruption to the journey in excess of 12 hours resulting in your being prevented from reaching the scheduled destination, of any public conveyance on which you are a passenger as a result of an act of hijack.
• Personal Money
We will pay for you accidental loss of cash and travelers’ cheques during the journey.
• Home Care Benefit
In respect of damages to your home contents as a result of fire when your house is left vacant while you are traveling.
• Terrorism
Allianz Travel Care insurance provides coverage for bodily injury, death and permanent disablement incurred as a result of an act of Terrorism and the insured person has no direct or indirect participation in the act. However, claims incurred as a result of nuclear, chemical or biological weapons or events are not covered. Terrorism is defined as the systematic or planned use of violence, fear or threat of violence in order to intimidate a population or government, especially as a means of coercion or to obtain a granting of any demand.

24 Hours Worldwide Travel Emergency Assistance Helpline
Schedule of Benefits

Benefits			Overseas (Outbound)		Domestic (Inbound)
			Individual	Family   RM	Individual   RM	Family   RM
			Insured Person and Spouse
			Individual Annual RM
Section 1	1	Accidental Death (Principal Sum)** Per Adult Per Child	200,000 Not covered	200,000 25,000	150,000 Not covered	150,000 15,000
	2	Permanent Disablement** Per Adult Per Child	200,000 Not covered	200,000 200,000	150,000 Not covered	150,000 150,000
Section 2	1	Medical Expenses (including dental repair due to accident) (up to)	300,000	900,000	15,000***	45,000***
	2	Other Medical Expenses (including Emergency Medical Evacuation & Repatriation) (up to)	1,000,000	1,000,000	1,000,000***	1,000,000***
	3	Follow up Treatment (up to)	30,000	100,000	5,000***	15,000***
	4	Hospital Income (up to)	300 per day up to 9,000	900 per day up to 20,000	80 per day up to 2,400***	240 per day up to 7,000***
	5	Funeral Expenses (up to)	8,000	16,000	4,000	8,000
	6	Compassionate Care (up to)*	5,000	15,000	1,000***	3,000***
	7	Child Care Benefit (up to)*	5,000	15,000	Not Covered	Not Covered
	8	Despatch of Medication (up to)	3,000	3,000	1,000	1,000
Section 3	1	Deposit or Trip Cancellation (up to)*	20,000	50,000	Not covered
Section 4	1	Curtailment (up to)*	20,000	50,000
Section 5	1	Luggage or Personal Effect (up to)	5,000	15,000
	2	Notebook Computer (up to)	1,000	1,000
Section 6	1	Travel Documents (up to)*	5,000	15,000
Section 7	1	Luggage Delay (up to)	800 (Min 6 hours)	2,000 (Min 6 hours)
Section 8	1	Travel Delay	300 per 6 hours up to 2,000	300 per 6 hours up to 6,000	100 per 6 hours up to 1,000	200 per 6 hours up to 2,000
Section 9	1	Missed Departure (up to)*	1,000	3,000	Not covered
Section 10	1	Missed Travel Connection	250 (Min 8 hours)	1,000 (Min 8 hours)
Section 11	1	Travel Overbooked	250 (Min 8 hours)	1,000 (Min 8 hours)
Section 12	1	Additional Costs of Rental Car Return (up to)	1,000	1,000
Section 13	1	Personal Liability (up to)	1,000,000	1,000,000
Section 14	1	Hijacking	300 per day up to 20 days (Min 12 hours)	600 per day up to 20 days (Min 12 hours)
Section 15	1	Personal Money (up to)	800	2,000
Section 16	1	Home Care Benefit	1,000	1,000
Terrorism			Covered

*    Excess RM50 per person for Individual Plan/Insured Person and Spouse Plan/Individual Annual Plan 
*    Excess RM100 per family for Family Plan
**   Same pay out to 1 legal spouse for Family Plan
*** Accident Only

Premium Rates

Overseas (Outbound)	Individual RM	Insured Person and Spouse RM	Family RM
ASIA
1 – 5 days	30	55	70
6 – 10 days	45	85	110
11 – 15 days	65	125	160
16 – 22 days	80	155	230
23 – 31 days	120	235	300
Each additional week or part	20	40	50
Annual	300	Not available
WORLDWIDE
1 – 5 days	40	75	100
6 – 10 days	60	115	145
11 – 15 days	90	180	225
16 – 22 days	115	225	290
23 – 31 days	170	335	420
Each additional week or part	35	55	80
Annual	320	Not available

DOMESTIC (INBOUND)	Individual	Family
1 – 5 days	15	35
6 – 10 days	25	55
11 – 15 days	35	85
16 – 22 days	45	115
23 – 31 days	65	155
Each additional week or part	10	25

Please add RM10.00 for stamp duty.


Geographical Areas

Asia is defined as Singapore, Thailand, Indonesia, Philippines, Brunei, Taiwan, Korea, China including Hong Kong and Macau, Laos, Vietnam, Myanmar, Cambodia, India, Sri Lanka, Bangladesh, Nepal, Australia, New Zealand and Japan.

Worldwide includes United States of America and Canada.

Domestic is defined as Malaysia.

General Notes

1. The proposer aged from 18 years to 70 years.  The proposer’s legal spouse*, unless legally separated from the proposer, who is not more than 70 years of age. The proposer’s unmarried children who are between 30 days to 21 years and who are primarily dependent upon the proposer for support and maintenance. The family plan shall include the proposer and the legal spouse and all the accompanying children.
2. Flight Delay cover shall not be granted if you travel in a chartered flight.
3. Each trip must begin and end in Malaysia except One Way Cover.

* If more than one spouse, only one will be covered.
 
General Exclusions Applicable For All Sections

• Delay, confiscation, detention, requisition, damage, destruction or any prohibitive regulations by Customs or other government Officials or Authorities of any country
• Hazardous Adventure
• HIV (Human Immunodeficiency Virus) and/or any HIV-related illness including AIDS (Acquired Immune Deficiency Syndrome) however caused and/or any mutant derivations, variations or treatment thereof however caused
• Ionising radiation or contamination by radioactivity from any nuclear waste from combustion of nuclear fuel.
• Pre-existing medical conditions
• Pregnancy, childbirth, abortion or miscarriage
• Riot or civil commotion, lockout or threat of such event
• The radioactive toxic explosive or other hazardous properties of any explosive nuclear assembly or nuclear component thereof
• War, invasion, act of foreign enemy, hostilities (whether war be declared or not), civil war, rebellion, revolution, insurrection or military or usurped power, martial law or state of siege or any of the events or causes  which determine the proclamation or maintenance of martial law or state of siege

Excluded Occupations

1. Flight crew (except as a passenger)

Extension Of Period Of Insurance
 
The Period of Insurance will be automatically extended without any additional premium for the additional days that are reasonably necessary for up to:
(a) 14 days if any vehicle, sea going vessel or aircraft in which the Insured Person is traveling as a ticket holding passenger is delayed;
(b) 30 days if the intended return journey is prevented due to bodily injury or illness to the Insured Person arising from a cause covered under this Policy.

Cash Before Cover
(a) It is a fundamental and absolute special condition of the contract of insurance that the premium due must be paid and received by the Company before cover commences. If this condition is not complied with, then the insurance is automatically null and void.
(b) The authorised agent shall remit the premium within seven (7) working days upon receipt of such premium from Insured Person. The Company reserves the right to refuse any coverage and/or reject Insured Person’s and /or Family Member’s claim resulting from non-payment of premium to the Company.