KUALA LUMPUR (March 23): FWD Takaful Bhd has pledged RM1 million under its special fund to help customers and their immediate family members affected by Covid-19.

In a statement, the takaful provider said coverage under the fund starts from March 18, 2020, to June 30, 2020, or until the fund is exhausted, whichever occurs first.

“We’d like to reiterate that the health and well-being of our customers, employees, business partners and the wider community is of paramount importance to us. At FWD Takaful, we want to change the way people feel about Takaful and, therefore, we’re pledging a total of RM1 million under our special fund to fight against Covid-19,” said FWD Takaful chief executive officer Salim Majid Zain.

Certificate owners will be entitled to an additional death benefit of RM20,000 upon the covered person’s demise due to the virus.

The takaful provider added that it will also provide a hospitalisation benefit of RM200 a day for up to 60 days if a person is diagnosed with the virus and quarantined at any of the Ministry of Health’s (MoH) list of designated hospitals.

Additionally, FWD Takaful will also pay a special lump sum compassionate benefit of RM5,000 per person upon an immediate family member’s death or diagnosis.

The coverage extension will include implementing a waiver for communicable diseases requiring quarantine by law and reduced waiting periods for its existing medical plan.

“The benefits above will not be applicable if the person covered (including family members) has been diagnosed with Covid-19 and/or is being quarantined for the monitoring of Covid-19 at the request of a doctor and/or competent authorities before the commencement date or reinstatement of the certificate.

"FWD Takaful shall have the right to amend the terms and conditions of this special extension of coverage and benefits for Covid-19 from time to time without prior notice. In case of disputes, the company reserves the right of final decision,” it added.