When we discuss something that is rarely heard of, we are often plagued with various myths. It is time for us as Malaysians to emphasize and discuss issues related to protection or in simple terms, “insurance”. Due to a lack of awareness of this issue, myths about insurance arise, such as “insurance wastes money”. So, is it true that insurance wastes money or is it just a myth that circulates in our community now? Therefore, Qoala wants to invite all readers to increase their reading and knowledge about Etiqa insurance by reading this article.
What Is Etiqa Insurance?
To love something, you need to know its origins and history. The history of Etiqa begins in Malaysia in 2005 when Maybank Ageas, formerly known as Mayban Ageas, together with Maybank’s insurance and takaful sector, which included Mayban General Assurance, Mayban Life Assurance, and Mayban Takaful, merged with Malaysia National Insurance Berhad and its subsidiary, Takaful National Sdn Bhd. Two years after the merger of all companies, at the end of 2007, a leading corporate insurance company in Malaysia was born, known as Etiqa. On 1 January 2018, Maybank Ageas Holdings Bhd announced that Etiqa had been restructured into four organizations: Etiqa General Insurance Berhad (EGIB), Etiqa Life Insurance Berhad (ELIB), Etiqa General Takaful Berhad (EGTB), and Etiqa Family Takaful Berhad (EFTB).
If you want to know, Maybank Ageas Holdings Berhad has several committed Board of Directors who ensure that their insurance business succeeds in providing the best value to shareholders who have invested in the company. They include Y.Bhg. Datuk R. Karunakan, who is a Independent Director or known as the Chairman of Maybank Ageas Holdings Berhad, and is assisted by the Deputy Chairman, Mr. Antonio Cano. There are also other members of the Board of Directors such as Gary Lee Christ, Y.Bhg. Dato’ Johan Ariffin, Y.Bhg. Dato’ Amirul Feisal Wan Zahir, Y.Bhg. Dato’ Majid Mohamad, and Y.Bhg. Datuk Mohd Najib Abdullah who are driving forces in Maybank Ageas Holdings Bhd. So, that’s a little bit of information about Etiqa Maybank insurance company that you should know.
Another reason why Malaysians choose Etiqa is because the company offers a wide range of insurance products and services that cater to different needs and budgets. Etiqa offers various types of insurance, including life insurance, health insurance, travel insurance, car insurance, and more. They also provide takaful products for those who prefer Shariah-compliant insurance.
In addition to their comprehensive product offerings, Etiqa is also known for their excellent customer service. They have a dedicated team of professionals who are always ready to assist customers and handle claims efficiently. This has earned them a strong reputation in the industry and among customers, making them a trusted choice for insurance and takaful in Malaysia.
Overall, Etiqa’s reputation for professionalism, reliability, and customer service, combined with their wide range of insurance and takaful offerings, make them a popular choice for Malaysians seeking protection and peace of mind.
Benefits of Having Etiqa Insurance
In these challenging times, it is advisable to practice the proverb “prepare an umbrella before it rains” by subscribing to insurance and takaful plans, because you never know when disaster may strike. Therefore, you can no longer consider insurance as a luxury, but a necessity in life so that it can help you when facing various disasters such as fire, accidents, or injuries. If you bear the cost of the damage yourself, you may potentially lose hundreds or even thousands of ringgit. We don’t want to regret later when we have to use our own savings to pay for the costs of accidents or fires, so get insurance immediately.
There are many advantages that you can gain by having Etiqa insurance, especially in the post-Covid-19 era. If you didn’t know, in 2020, Etiqa provided special benefits to its customers where Etiqa deferred premium payments for 3 months for those who had insurance plans with a period of more than 12 months. Moreover, if users subscribe to Etiqa Life Insurance Berhad or Etiqa Family Takaful Berhad and are confirmed to have contracted Covid-19, Etiqa will provide cash assistance of RM5000.
Comparison Between Insurance and Takaful Products
Etiqa offers various insurance and takaful products for you to choose from, depending on what suits your future needs best. Insurance is a concept where customers protect themselves, their families, and their assets from any unwanted accidents or incidents. This works by paying a monthly amount or premium to Etiqa, and if you experience any loss or damage, Etiqa will compensate you based on the risks that you have taken. Examples of Etiqa’s insurance products that you can subscribe to in the context of life and family are Protect 88 Insurance, Ezy-Life Secure Insurance, Ezy-Secure Insurance, Etiqa Life Secure Insurance, and Enrich Life Plan Insurance.
On the other hand, Takaful is a form of protection based on Sharia or the principle of Ta’awun, which means mutual assistance. In other words, takaful provides joint protection for assets and property in the event of a member being affected by a disaster. Examples of Etiqa’s takaful products in life and family insurance plans that you can consider are Mawaddah II Takaful, I-Secure Takaful, I-Double Secure Takaful, Aafiah Care Takaful, and Prisma Takaful.
Types of Etiqa Insurance Products
As a leading insurance company in Malaysia, it is inevitable that Etiqa has released numerous personal insurance products such as car, motorcycle, travel, home, savings, life and family, personal accident, investment, education, and health insurance.
1. Car Insurance
So if you want to renew your car insurance offered by Etiqa, you can register online to get a 10% discount and not only that, you will also get 300km of free car towing services. For your information, the value needed for you to insure your car is based on the current market value of the car you own. So it is very important for you to know the current value of your car.
2. Motorcycle Insurance
Motorcycle insurance is also one of the products offered by Etiqa, and if you renew your motorcycle license online, you will enjoy a 10% discount. The coverage you will receive when purchasing motorcycle insurance is that Etiqa will provide protection against any accidents, fires, or thefts, and not only that, you will receive personal accident coverage of RM6 per month, which is worth it, isn’t it? So, if you own a motorcycle and want to take out insurance, the insurance value will follow the current market value or the current cost of your motorcycle.
3. Travel Insurance
If you enjoy traveling alone or with your family, you can get a travel insurance plan with Etiqa. By registering online, you can enjoy a discount of 25%. If you didn’t know, the premium payment for travel insurance varies depending on the destination, planning, and duration of your trip.
4. Home Insurance
If you have a lot of money, the first thing that comes to your mind must be buying a house. Therefore, if you already own a house, you should get home insurance first. Basically, there are three protection options that you or your family members can choose before purchasing insurance. You can choose either option 1 (building protection) of RM60,000, option 2 (content protection) of RM16,000, or option 3 (building and content protection) of RM76,000. So, you can choose based on your ability and financial position at the time.
5. Savings Insurance
In addition, for those who want to maximize annual returns when adding value to their savings, you can take the Triple Growth insurance plan. This plan allows you to receive guaranteed interim cash payments of up to 126% of the initial amount that you have insured.
6. Life Insurance
Protecting our family is one of the most important things in our lives. To ensure the protection of our loved ones, you can take out life and family insurance and choose plans that are affordable for you. For example, you can consider the Ezy-Life Secure Insurance plan, which is flexible according to your family’s needs, and you can pay as little as RM0.40 per day. For Etiqa Life Secure Insurance, you can choose the plan’s duration based on your needs and capabilities. Another option is the Enrich Life plan, which also offers great flexibility for you to choose the best insurance coverage for your needs.
7. Personal Accident Insurance
Accidents can happen anytime and anywhere, and according to the Traffic Investigation and Enforcement Department (JSPT) of Bukit Aman, a total of 10,382 accidents occurred within the first 32 days of the implementation of the Movement Control Order. With this in mind, you are at high risk of getting into an accident every time you drive or ride a vehicle. As a precautionary measure, you can choose the best plans under personal accident insurance, such as RiderCare PA Insurance, which provides coverage up to RM5000 and only requires payment as low as 6 sen per day.
8. Investment Insurance
For those of you who enjoy investing and desire maximum returns, it is highly recommended to take the Securelink Insurance plan as it promises loyalty bonuses every 3 years that will be credited to your account to maximize the value of your investment. Under the MaxiPro Insurance plan, there are 6 plan options for users with a minimum payment period of 8 years.
9. Education Insurance
If you are a parent and have children, it is important to plan ahead for their education expenses. If you already have a plan to buy an education insurance, you can consider purchasing the Aspire Insurance plan. The insured value is flexible according to your financial position as a parent, where the minimum amount insured is RM12,500 and the maximum amount is RM400,000.
10. Health Insurance
Health is something that is very important in our lives, especially in this post-Covid-19 era. Therefore, it is highly recommended for you to have a health insurance plan because in this era, health insurance is a necessity in life. Examples of plans you can take are e-Medical pass insurance starting from RM 1.74 per day. There are also other plans such as e-CancerCare insurance that provide protection for as low as 21 cent per day.
The Things Protected By Every Product Released By Etiqa Company
1. Comprehensive Car Insurance
If you choose Etiqa’s comprehensive car insurance, you will receive a 10% discount, but you need to renew the insurance online. In addition, if you choose this insurance, Etiqa will provide protection for all drivers without any additional premiums, and most importantly, they will provide 24-hour emergency assistance on the road. You just need to call the Claims Careline and everything will be handled by the insurance company. Furthermore, if you are 21 years old or above, there will be no excess imposed on you if you want to make any claims.
2. Comprehensive Motorcycle Insurance
Good news for motorcycle riders, Etiqa offers comprehensive motorcycle insurance to provide protection in case of loss or damage to the motorcycle. So if you are a motorcycle user, it is recommended to take this comprehensive insurance because it provides protection if you are involved in a personal accident. Not only that, Etiqa will also provide protection for third parties in the event of injury, death, and damage to third-party property.
3. Travel Insurance
For those who frequently travel alone or with family within or outside the country, it is highly recommended to purchase the Tripcare 360 travel insurance plan from Etiqa to obtain extra protection, especially if you experience luggage loss, flight delay, or any difficulties during your travel. You will benefit greatly from taking the Tripcare 360 Insurance plan, such as cashless medical treatment where Etiqa will provide a guarantee letter (entry into the hospital without cash) for travel outside the country. In addition, if you lose valuable items during your travels, you can make a claim of up to RM5000 just through the WhatsApp application. Easy!
4. Home Insurance
For those who already own a house, it is recommended to take out a homeowner’s insurance policy to help alleviate the burden of paying for replacement and repairs. Other benefits that you can receive include Etiqa reimbursing the cost of damages to your home caused by natural disasters, especially during floods, and receiving protection from Etiqa if your home is damaged due to animals or vehicles. It’s not a bad idea to be prepared from the start because there are many possibilities that can happen.
5. Savings Insurance
Next, if you are someone who loves to save money, a savings insurance plan is the best for you. The insurance plan you can choose is the Triple Growth Insurance where it provides protection and guarantees where the basic insurance amount, bonuses, accumulated cash payments, and any arrears that you have will be paid in full by Etiqa if the policy holder passes away or suffers from Total and Permanent Disability.
6. Life Insurance
Etiqa also offers Life and Family Insurance that is affordable for everyone. Plans under Life and Family Insurance include Protect 88 Insurance that protects you from a young age to old age, you can also take the Ezy-life Secure Insurance plan and benefit if you become permanently disabled due to an accident. There is also the Ezy-Secure Insurance plan that provides protection for you from age 21 to 80, and finally the Enrich Life Plan Insurance that provides insurance protection, medical coverage, women’s disease protection and critical illness protection.
7. Personal Accident Insurance
If you are involved in an accident, Etiqa offers the best financial protection when you purchase PA insurance. Among the plans offered are Buddy PA Insurance, which provides accident protection, especially for sports enthusiasts, crime victims, women, and families. Additionally, there is RiderCare PA Insurance, which helps alleviate your financial burden, Khas Perlindungan Kemalangan Kereta (CAPS) Insurance, which protects you as a driver or passenger, and Flexi PA Insurance, which helps protect your financial burden. Furthermore, there is also Mega PA Insurance, which protects adults, children, or families if they become victims of crime.
8. Investment Insurance
In addition, for those who enjoy investing, there are also many plans that you can take under investment insurance. For example, Securelink Insurance which provides continuous protection even if you have lost total permanent disability, MaxiPro Insurance and Megalink Insurance that provide protection up to RM 2 million and an additional 200% of the amount you insure where the company will provide it to your beneficiaries if you are no longer around.
9. Education Insurance
For parents who are planning to add to their children’s education fund, they can take the Insurance Aspire plan. With the Insurans Aspire plan, Etiqa can help meet the educational needs of children and provide cash rewards to encourage them to study harder to achieve excellent grades. Parents who pay for insurance under the Insurans Aspire plan will be paid 50% of the insured amount.
10. Health Insurance
In modern times, health has become a priority for every citizen, so Etiqa offers the best and affordable health insurance plans. Among the plans available are e-Medical Pass Insurance which provides hospitalization and surgical benefits, e-Cancer Care Insurance which provides protection for early-stage cancer patients, Medical Plus Insurance which provides life coverage without limit to users, and IL Medical Plus Insurance. In addition, there is the IL CI Plus Insurance plan that protects users from 68 types of illnesses, IL Cancer Shield Insurance, and IL Female Essential Insurance which specifically provides protection for women with critical illnesses.
How to Make an Insurance Claim?
Don’t worry if you don’t know how to make an insurance claim, it may seem like a lot of steps but the process is actually quite simple. You can read the steps to make a claim below but make sure to also read the policy issued by Etiqa so that you can easily make the claim later.
In general, if you want to make an insurance claim, you must:
- Notify Etiqa insurance company as soon as possible, within 24 hours, but not later than 30 days after the damage or loss occurred.
- Alternatively, you can submit your claim online at www.etiqa.com.my or through the email provided on Etiqa’s website.
- The easiest way to make a claim is through Etiqa’s WhatsApp platform, and most importantly, for any issues that arise, you should refer back to the insurance policy contract provided. Below, we have included examples of insurance claims that you can refer to.
1. Motorcycle Insurance
For those of you who take Etiqa insurance and takaful, there are several guidelines to facilitate the claims process. For making claims for motor vehicle accidents, you must first contact Etiqa insurance company or call the Accident Assist Call Center. Next, you can take pictures and collect all evidence from the accident area to be submitted to the insurance company, such as damage to the car, and finally you must make a police report so that your claim is not rejected.
2. Travel Insurance
For travel insurance claims in case of flight delays, you must provide written confirmation of the duration of the delay from the airline or agent. You should also provide the original flight schedule and the updated schedule provided by the airline. Don’t forget to submit a copy of your passport stamp for entry to the airport to facilitate your insurance claim.
3. Home Insurance
In addition, to make a home insurance claim in the event of a fire or burglary, you must prepare several documents before making a claim with Etiqa. Firstly, you need to make a police report as this is mandatory evidence to show the occurrence of damage to property or home. Next, you need to take pictures showing that the property inside your house has been damaged, and not only that, all copies of original invoices, bills, and estimates of the price of household items must be submitted to the insurance company.
Now that you have a deep understanding about Etiqa insurance, you’ll be more careful in making choices and, most importantly, you won’t easily believe myths about insurance. Insurance doesn’t waste your money because when you think about it, insurance payments are lower compared to the costs you have to pay when “misfortune” strikes. If you understand and have knowledge about insurance, even a little bit, spread it to others so they know the importance of insurance in today’s life.
Also, if you are looking for the best car insurance, motorcycle insurance, home insurance, personal accident insurance in Malaysia, visit the Qoala website for more info. Compare prices and benefits from some of the best and most popular insurance companies in Malaysia with a simple, fast and safe process.