PACIFIC Insurance Bhd, a member of the PacificMas group, has launched two new insurance products Medi-Help 38 and Master Protector.
Its chief executive officer Ng Hon Soon said that Medi-Help 38 offered insurance protection against 38 critical illnesses, while Master Protector provided cover against personal accident.
Medi-Help 38 has come at a time of increasing public concern over rising medical and health care costs, he said in a statement.
Medi-Help 38 is among the first few critical illness insurance policies which can be bought as a stand-alone policy.
Very often, critical illness insurance is sold as a rider to a basic life insurance policy and that can be costly, Ng said.
Medi-Help 38 does not require medical examination but needs a declaration of health condition and excludes pre-existing illnesses in line with industry practice.
It is a yearly renewable policy and charges premium according to a person's current age band, thus younger people pay less premium relative to a policy which levies premium on a level-premium basis, Ng said.
On Master Protector, the new personal accident policy, he said that it offered a renewal bonus of 10% per year up to 50% of the original capital sum.
Master Protector offers several plans, which include additional covers such as medical expenses, repatriation expenses, cosmetic surgery and personal liability up to RM100,000.
There is also an option to include a weekly hospitalisation benefit.
Both these new insurance policies come in easy-to-understand language so that policyholders will have a better idea of the nature and the extent of the insurance cover they have bought.
Pacific Insurance is a leading medical insurance underwriter and has 14 branch offices nationwide. Bernama