EMPLOYEE BENEFITS INSURANCE

In the highly competitive market to obtain the best staff, many companies are purchasing benefits to attract and retain staff. Normally a company would start with the Group Personal Accident policy as the most basic form of employee benefits, and moving towards Group Hospitalisation & Surgical Insurance Schemes. Some companies may even include a form of Dental Cover as well as "mobile" covers that staff can continue on their own when they leave employment with the Insured's companies.




TYPES OF POLICIES


GROUP MEDICAL INSURANCE

This is a plan that provides healthcare cover to a group of people; a common example is company-wide insurance for employees. The benefits are usually standardized across all benefactors, and such plans are usually cheaper than individual plans because the risk to the issuer is spread out through an entire group.

Many of our clients who request this are from the Oil and Gas industry.

GROUP PERSONAL ACCIDENT INSURANCE

Group Personal Accident Insurance plan provides companies with comprehensive personal accident insurance coverage and liability insurance protection against accidental death or injury. Benefits of this policy include:

  • Accidental Death
  • Permanent Disablement
  • Accident Medical Expenses
  • Weekly Indemnity
  • Emergency Medical Evacuation & Repatriation Expenses

GROUP TERM LIFE (GTL)

The GTL insurance coverage is provided to a group of people, most often employees of the same company. These policies carry a lower cost than the policies offered to individuals. All staff who commence work or upon confirmation is covered by the policy, but when they leave the coverage automatically lapses for the workers who leave.
The coverage would include all cause of death or permanent disablement including suicide except suicide during the first year of policy.

FOREIGN WORKERS' HOSPITALISATION AND SURGICAL SCHEME (FWHS) OR SKHPPA

To reduce financial burden of the Employers of foreign workers in the event of hospital admission of their foreign workers due to accident or illness, this Foreign Workers' Hospitalisation and Surgical Scheme (FWHS) or better known as SKHPPA is specially designed

However, coverage is only in respect of expense incurred in government hospitals.

Coverage would include

  • Daily Hospital Room & Board (Maximum up to 30 days)
  • Intensive Care Unit (ICU) (Maximum up to 15 days)
  • Surgical Fees (Exclude Organ Transplant)
  • Hospital Supplies and Services
  • Anesthetist Fees
  • Operating Theatre
  • In-Hospital Specialist Consultation (Maximum up to 30 days)
  • In-Hospital Pysician Visits (Maximum up to 30 days)
  • Ambulance Fees/Medical Report Fees

FOREIGN WORKER COMPENSATION SCHEME

Section 26 of the Workmen's Compensation (Amendment) Act 1996 require all employers to insure all foreign workers under the Foreign Worker Compensation Scheme.

Our partners are panel members appointed by labour department to cover all foreign workers as provided under the Act.

Under the Workmen's Compensation (amendment) Act 1996 the benefits covered are as follows:

SCALE OF BENEFITS


Benefits Working Hours Off Working Hours
Death RM 25,000.00 RM 23,000.00
Permanent Disablement As per Workmen Compensation Act (Max. RM 23,000.00) RM 23,000.00
Temporary Loss of Income Due to Temporary Disablement As per Workmen Compensation Act 1952 As per Workmen Compensation Act 1952
Hospitalization & Medical Expenses As per Workmen Compensation Act 1952 (Max. RM750.00) As per Workmen Compensation Act 1952 (Max. RM750.00)
Repatriation Due to Death and Permanent Disablement RM 4,800.00 RM 4,800.00