Insurance and takaful industry announces details on COVID-19 test fund

KUALA LUMPUR, April 1 -- The Life Insurance Association of Malaysia (LIAM), Persatuan Insurans Am Malaysia (PIAM) and Malaysian Takaful Association (MTA) have finalised the details of the COVID-19 Test Fund (CTF) for the benefit of medical insurance policyholders and takaful certificate holders.

In a joint statement today, LIAM, PIAM and MTA said the RM8 million CTF has been pledged by the insurance and takaful industry in support of the Ministry of Health’s (MoH) efforts to conduct more COVID-19 tests for Malaysians.

LIAM is leading the initiative with a RM5 million contribution, while PIAM and MTA have pledged RM2 million and RM1 million respectively, it said.

Insurance policyholders and takaful participants with group/individual medical and health insurance policies and takaful certificates who have been referred by registered doctors to undergo COVID-19 tests at recognised private labs listed on the MoH’s COVID-19 website are eligible to claim from the CTF.

They said the funding is available for tests done from March 27, 2020 onwards. The insurance policy or takaful certificate must be in force as of March 27, 2020 and at the time the test is conducted.

The payout for reimbursement is up to a maximum of RM300 per test (one reimbursement per individual) to maximise the number of tests that can be supported by the CTF. Those entitled to be referred/tested are deemed as persons under investigation (PUI) as defined by the MoH or contacts of a positive case, they said. 

Case definition of persons under investigation (PUI) issued by MoH updated on March 25, 2020.

The insurance and takaful industry is finalising a dedicated portal for the COVID-19 Test Fund for the public to have access and submit their claims online.

The COVID-19 Test Fund portal will have details on the application process and procedures for reimbursements and is expected to go live within the next few days, the statement said.

-- BERNAMA