Zurich Insurance Malaysia Bhd has introduced
Zurich MegaMed, a new rider available with its investment-linked products.
MegaMed is available as an add-on to several of Zurich Malaysia’s investment-linked products, namely FlexiLife, FlexiLife Plus, and TrueLady. It will be available in four levels, with the most basic having an annual limit of MYR350,000 (US$78,200) and the highest with a MYR2.25 million (US$503,000) annual limit.
“We are going to see medical costs increasing rapidly in line with natural medical inflation and the current weaknesses of the ringgit,” said Philip Smith, CEO of Zurich Malaysia
As medical inflation in the country is expected to go up by 10% to 15% each year, MegaMed will offer a bonus feature of no lifetime limit up to age 100 and cashless transactions at local hospitals.
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