Insurance cover that’s fit for the pandemic

A FAMILY friend who is a financial controller with a regional manufacturing plant head-quartered in Malaysia had the presence of mind to provide Covid-19 life insurance cover for his employees.

The company ensured that all the employees were fully vaccinated and operated at 60% capacity as per the government’s requirements.

With the surge in Covid-19 cases and deaths, his decision proved to be timely and decisive. Last month, two of his colleagues were infected and one them, a 53-year-old male employee, succumbed to the virus.

His family members received a RM100,000 death benefit payout from the policy, and it was a blessing in disguise for them in more ways than one.

Incidentally, the life cover for Covid-19 and other critical illness just costs around RM100 per employee for a year, depending on the type of coverage.

Perhaps it should be mandatory for employers to offer life coverage against Covid-19 for all staff. If budgets don’t permit this, at least give the staff the option to pay for it themselves.

At the very least, government frontliners should be given the same level of protection or their next of kin be accorded a pension irrespective of years of service.

Another option is for organisations such as Socso to develop a national plan that anyone can subscribe to with premiums paid via monthly salary deductions.

The impact and relief that such a payout brings to a bereaved family need to be seen to be believed. It is time employers stepped up to the mantle.


Shah Alam

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letters , Insurance , Covid-19


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