AMERICAN International Assurance Co Ltd (AIA Malaysia) is confident of posting RM30mil in new premiums by the end of this year from its latest AIA Lifestyle 5 insurance protection plan.
AIA Malaysia senior vice president and general manager Mark O'Dell said the new scheme was the first of its kind in Malaysia which offered policyholders with coverage for second medical opinion with the renowned US-based medical group WorldCare.
We are expecting good response as more than 10,000 policyholders had taken the scheme and brought in new premiums of RM3mil since the soft launch in April, he said.
O' Dell said this at the official launch of AIA Lifestyle 5 in Kuala Lumpur by Energy, Communication and Multimedia Minister Datuk Amar Leo Moggie yesterday.
He said that upon the diagnosis of a critical illness, the AIA Lifestyle 5 policyholder might seek a second opinion on his medical condition from a list of experts and specialists from WorldCare through the use of telemedicine.
These experts will advise the insured on a treatment plan and follow-up care in collaboration with the local attending doctor, O'Dell said.
He added that the second opinion benefit would provide the policyholders the reassurance that all medical treatment options had been studied and considered by the best doctors in the world.
The medical institutions under the WorldCare consortium are the Cleveland Clinic Foundation, Duke University Health System, Johns Hopkins Medicine, Massachusetts General Hospital, and Brigham and Women's Hospital.
The AIA Lifestyle 5 offers a comprehensive protection plan for those aged one month up to 55 years with five benefits in one plan. The scheme is a 20-year term-life plan and renewable up to the age of 70.
Besides the second opinion coverage, AIA Lifestyle 5 also provides coverage for 36 critical illnesses for which the company would pay a lump sum of RM100,000 upon the insured being diagnosed, and 171 major and minor surgical procedures and extra cash for recovery if the insured undergoes surgery.
AIA Lifestyle 5 also pays up to RM100,000 cash direct to the insured's family in the event of the insured's death, O'Dell said, adding that the company would make a cash payout of two times the assured amount in the event of death in an accident.
AIA is also holding the AIA Best Slogan Wins Contest in conjunction with the launch of the Lifestyle 5 plan.