Allianz Domestic Workers Insurance Scheme

Allianz Domestic Workers Insurance Scheme provides the Employer with financial compensation for accidental bodily injury or death to the servant. In addition, it also pays for repatriation expenses, hospitalization and surgical expense and also weekly benefit.

 Benefits:

1. Personal Accident Insurance  

•  Accidental Death & Permanent Disablement - RM 25,000
•  Medical Expenses (Excess RM 50) - RM 1,000

2. Repatriation Expenses - up to RM 5,000
3. Hospitalization & Surgical - up to RM 5,000
4. Weekly Benefits (max 15 weeks) - RM 105

Premium:

The total premium that you pay varies depending on the no of the years (1 years or two years)

• 1 years - RM 63
• 2 years - RM 126 

Subject to minimum premium of RM 25 per policy issued.
In addition to the premium you have to pay RM 10 of Stamp Duty

Foreign Worker Hospitalization and Surgical Insurance Scheme (SKHPPA)

This Foreign Workers Hospitalization and Surgical Insurance Scheme (FWHS) or better known as SKHPPA is specially designed in view of increasing Hospital and Surgical charges and to reduce financial burden of the Employers of foreign workers in the event of hospital admission of their foreign workers due to accident or illness. Coverage is required before work permit is issued by Immigration Department for both new and renewal applications.

 Schedule of Benefits:

FAQ:
Q1 What does the SKHPPA cover?
A It covers hospitalization & surgical charges incurred by the foreign worker in the event of hospital admission to a Non-Corporatised Malaysian Government Hospital due to an Accident or Illness

Q2 Is the SKHPPA a compulsory scheme?
A Yes

Q3 My foreign workers are insured under the FOREIGN WORKERS COMPENSATION SCHEME (FWCS), do they need to be insured under SKHPPA?
A Yes. The SKHPPA and the FWCS are two different schemes and both are compulsory.

Q4 Can the premium deducted from the foreign workers salary?
A Yes, the employer can advance the payment for the required premium and then subsequently deduct the same from the foreign worker's salary.

Q5 How much is the premium and when will cocverage take effect?
A The annual premium is RM 120.00 per worker per annum and coverage will take effect upon registration with premium duly paid.

Q6 Is medical check-up required?
A Not necessary as long as the foreign workers are legally working in  Malaysia and have passed the medical examination administrated by Fomema Sdn. Bhd. (FOMEMA)

Q7 Any restriction to hospital admission?
A Yes, admission to Non-Corporatised Malaysian Government Hospital only.

Foreign Workers - Plus

The Foreign Workers Plus is specially designed to give an additional cover on top of the Compulsory Foreign Workers Compensation Scheme (FWCS). 

Eligibility
Employers who are employing foreigners who are:
1. Having a valid work permit
2. Age between 18 to 50 years
3. Free from physical deformity

Highlights of the cover
1. 24 hours worldwide coverage
2. Valid claims will be paid to employer
3. High Medical and Surgical benefits
4. Extended to cover:

• Strike, Riot and Civil Commotion
• Hijacking
• Food and Gas Poisoning
• Drowning
• Unprovoked Murder and Assault
• Insects, Snakes and Animal Bites
• Disappearance
• Natural Disaster
• Exposure to Natural Elements
• Motorcycling

Table of Benefits
Death / Permanent Disablement (Accidental) - RM 10,000
Medical and Surgical Expenses (Accidental) - RM 2,000

Premium:
RM 50 per worker. Subject to 5% service tax & RM 10 stamp duty per policy
Use of woodworking machinery: 25% loading

Exclusions:
This policy does not cover:

1. Death or Disablement or any loss casued directly or indirectly
• War, invasion, act of foreign enemy, hostilities (whether war be declared or not), civil war, rebellion, revolution, insurrection, mutiny or usurped power, military or popular uprisings
• Insanity, suicide (whether sane or insane) or any attempt threat, intentional self-inflicted injuries
• Any form of disease, infection, parasites
• Intoxication by alcohol or drugs (other than those prescribed by a qualified medical practitioner)
• Childbirth, miscarriage, pregnancy or any complications thereof
• Acquired Immune Deficiency Syndrome (AIDS) or AIDS Related Complex (ARC), howsoever this syndrome has been acquired or may be named
• Provoked murder or assault
2. Death or Disablement or any other loss sustained by Life insured
• While traveling in an aircraft as a member of the crew except only as fare-paying passenger in an aircraft licensed for passenger service. For the purpose of this exclusion, the Life Insured would not be covered if he/she is involved in any technical operation or navigation whilst in the aircraft
• While committing or attempting to commit any unlawful act
3. Death or Disablement or any other loss consequent upon the Life insured engaging in hunting, mountaineering, ice-hockey, polo-playing, steeple chasing, winter sports, rugby, parachuting, racing of any kind other than on foot, yatching, water-ski jumping, underwater activities involving the use of breathing apparatus, professional sports, logging activities and using woodwork machinery driven by mechanical power.
4. Death or Disablement directly caused by or contributed or arising from:
•  Ionization, radiation or contamination by combustion of nuclear waste from the combustion of nuclear fuel. For the purpose if this exception, combustion shall include any self-sustaining process of nuclear fusion
• Nuclear weapons material

Foreign Workers Compensation Scheme (FWCS)

Employers who are employing foreign workers must comply with the statutory requirement Under Section 26(2) of the Amended Workmen’s Compensation Act 1952 to purchase this insurance to protect their foreign workers.

Benefits:
This policy indemnifies you under the Act in respect of compensation for employment injury as well as non-employment injury sustained by your foreign workers.
Duration of cover is for one year. You need to renew your insurance policy annually.

Foreign Workers Insurance Guarantee (FWIG)

Foreign Workers Insurance Guarantee (FWIG) is a guarantee required by the Immigration Department from Employers as a security deposit for the employment of foreign workers (excluding Domestic Maid) under Regulation 21 of the Immigration Regulations.

Benefits:

FWIG will serve as a guarantee to the Immigration Department to cover repatriation expenses in the event your worker is required by the authorities to be sent back to their country of origin during their stay in Malaysia.

Duration of cover is set by Immigration Department depending on the work permit, either 13 months, 18 months or 26 months. You need to purchase a new guarantee upon renewing your worker's permit.

Premium:
The total premium that you have to pay varies depending on Allianz's underwriting requirements and nationality of your worker also subject to minimum premium of RM 50 per insurance guarantee issued.

Fees & Charges:
In addition to the premium, you have to pay RM 10 for Stamp Duty

Important of Fire Insurance

 

 

Fire accidents are so anticipated but excessively destructive. Hence, it is essential to get insured against such damages. Insurance policy provides coverage to your house’s structure, or fittings and fixing, against damages and provides you with the financial assistance so that you may get back what you have lost. If the greatest damage happens and your house may get burned down, during such a hard time, what would you do? So this is why you require a fire insurance policy.

Insurance against fire damages offers the protection for house, stock, stuff, furniture etc; whatever gets damaged because of the fire accidents, insurance provides the replacement cost of assets and properties. For example, if your house is demolished or damaged heavily by fire, a policy of fire insurance will pay for your livelihood expenses, like added cost of stay in hotel, meals, etc.

It is really bad when your home burns down because of some inescapable accident, but if there is not any insurance cover to facilitate you to move ahead to your normal living, it’s even worse. So it is really great to get cover under such insurance, especially when you are not in a position to get back on a normal track on your own financial condition in case of damages.

Hiring Financial Consultant in Allianz Malaysia Berhad