The Insurance Commission has approved two insurance products for risks related to the novel coronavirus disease (COVID-19) offered by Malayan Insurance Co., Inc.
The COVID-focused insurance products are Travel Master and a standalone annual personal accident package.
“Notwithstanding anything stated to the contrary and subject to the limit specified in the Policy Schedule, the Emergency Medical Treatment Section of the travel policy is hereby extended to include Coronavirus Disease which was medically diagnosed by the public health authority or relevant government authorities of the city/country which the insured is visiting during the period of travel,” the IC endorsement read.
Filipinos traveling abroad must have travel and health insurance coverage and proof of their round- trip tickets. They are also required to submit a negative swab test result for COVID-19 before being allowed to travel.
With the COVID-19 risk protection, Travel Master provides medical expense coverage and hospital cash benefit of up to 14 days of confinement.
The PA policy covers accidental and COVID-19 related death, as well as a hospital cash allowance per day due to the disease for up to 14 days.
Travel Master with COVID-19 cover comes with Asian and worldwide travel plans, while customers can choose from five plans, which differ in period of coverage, for the standalone PA insurance product.
The government has already allowed non-essential travel on Oct. 21 after the Inter-Agency Task Force for the Management of Emerging Infectious Diseases lifted its ban.
For more information regarding the insurance products with COVID-19 coverage, interested customers may email csc@malayan.com or malayan@malayan.com, or call (632) 8628-8628.
Malayan Insurance is the leading non-life insurer in the Philippines and a member of the Yuchengco Group of Companies (YGC).