WHEN it comes to insurance, people's priorities are usually to buy coverage to protect their possessions, like their house and car. Many also have life insurance to protect their loved ones and to provide income for their survivors should the unexpected happen. However, many people don't give much thought about buying insurance to protect one of the most important things in their lives - their regular income, or more specifically, against the possibility of loss of such income.
The potential impact of a disability, either temporary or permanent, on our income arising from an accident can be financially crippling. How well could you live if you weren't able to work and not get a monthly paycheck? Disability is an unpredictable event, and if you become disabled, or require an extended time to recover, your ability to make a living could be restricted.
Although you may have saved enough money to meet your short-term needs, what would happen if you were unable to work for months, or even years? The real value of personal accident insurance lies in its ability to protect you over the long term. Statistically, we have a greater chance of becoming disabled than dying prematurely. This is because medicine has found ways of treating many illnesses and injuries that previously would have been fatal. However, recovery from these illnesses can be prolonged which increases your need to protect your income against the financial impact of disability. Findings of a US study show the following:
* A 30-year-old man has a one in five chance of suffering a long-term disability before his planned retirement.
* A 30-year-old woman has a one in three chance of suffering a long-term disability before her planned retirement.
* Roughly 50 percent of people who suffer disabilities lasting longer than six months remain disabled after five years.
* Heart disease and back problems are the two most common causes of disability.
* More people lose their homes through disability than through fire or death.
* One in seven employees will be disabled for five years or more before retirement
If you're single, you may have no other means of support. If you're married, you may be able to rely on your spouse for income, but you probably also have many financial obligations, such as supporting your parents and paying your home loan. Could your spouse really support you and your family? In addition, remember that you don't have to be working in a hazardous occupation to need disability insurance; accidents happen not only on the job but also at home, and illness can strike anyone. For these reasons, everyone who works and earns a living should consider purchasing personal accident insurance.
But that doesn't mean stay-at-home moms shouldn't consider having similar coverage. Should something happen to the matriarch of the family, the entire household could be thrown into chaos. If she dies suddenly or becomes disabled and cannot work or take care of the family, her husband may have to cut back his hours to stay at home or hire someone to care for the children, which could make financial matters worse. Indeed, when it comes to personal accident and health coverage, women have unique needs.
One new insurance product that specifically addresess these needs is PesonaLady, a comprehensive plan from Maybank that provides personal accident, medical and health as well as crime protection coverage to give every woman essential financial relief and assistance. Some of the unique features of this plan include coverage for female cancers, ATM cash withdrawal losses as well as kidnap and abduction. On top of that, PesonaLady also rewards mothers with Family Prosperity Bonus for the delivery of twins or more. With this simple and easy plan, you will enjoy affordable premium rates that will ensure a fruitful life for you and your loved ones. All this for as low as RM25 a month. For more information, visit your nearest Maybank branch or call 1300 88 6688. You can also visit www.maybank2u.com online.
What will you enjoy with PesonaLady?
Features and benefits include:
* Personal Accident coverage and protection against female-related illnesses and crime-related accidents and losses
* Hassle-free participation
* Easy and reliable premium payment mode via auto debit
* Flexible payment options of monthly instalments or yearly premiums
Table of Benefits
The following is a summary of PesonaLady benefits:
- Personal Accident
- Accidental Death
- Benefit is paid if Bodily Injury results in Accidental Death.
SUM COVERED: RMRM100,000
- Permanent Disability
- Benefit is paid if Bodily Injury results in Permanent Disablement due to accident.
SUM COVERED: RMRM200,000
- Compassionate Cash
- A cash amount will be given to your family in the event of Accidental Death.
SUM COVERED: RM2,000
- Facial Reconstructive Surgery or Dental Treatment due to Accident Reimburse for the actual cost incurred, to undergo corrective surgery to the head, face and/or neck, or treatment of injury of or damage to teeth, up to an amount not exceeding RM10,000 per year.
SUM COVERED: RM10,000
- Compassionate Cash due to Infertility arising from Accident
- A cash amount is paid in the event of total and permanent inability to conceive or become pregnant resulting from accidental injury to the reproductive organs (ovaries and/or womb).
SUM COVERED: RM10,000
- Skin Grafting due to Accident and/or Burns
- Reimburse for the actual cost of undergoing skin transplant due to accident and/or burns up to an amount not exceeding RM5,000 per year.
SUM COVERED: RM5,000
- Hospital Confinement Allowance due to Accident
- An allowance is paid for Each Day of Hospital Confinement due to Accident up to a maximum of 100 days or RM10,000 per year.
SUM COVERED: RMRM 10,000 (100 per day)
- Female Illnesses
- Female Cancers
- A cash amount is paid if you are diagnosed to be suffering from any or combination of Cancers which are Breast, Cervical, Uterine, Ovarian, Fallopian Tubes, Vulva and Vagina Cancers.
SUM COVERED: RM20,000
- Death due to Maternity Complications
- A cash amount is paid in the event of your death within 30 days from pregnancy complications or miscarriage as a result of an Accident.
SUM COVERED: RM20,000
- Crime
- Kidnap and Abduction
- Reimburse for expenses incurred in the event of Kidnap and Abduction:
A. Inclusive of the hiring of a private investigator up to RM5,000 and/or
B. For information leading to your safe recovery up to RM25,000
SUM COVERED: RM30,000
- Snatch Theft
- Compensation is paid for your jewellery, money or personal effects carried or worn and necessary expenses incurred for the replacement of personal identification card, driving license, passport, credit cards and/or bank cards stolen or damaged by a snatch thief or wayside robbery up to an amount of RM1,000 per year.
SUM COVERED: RM1,000
- ATM Cash Withdrawal Protection
- Compensation is paid for your loss of actual cash as a result of unauthorized use of your bank card for withdrawal of cash by force or threat by any unknown person up to RM1,000 per year.
SUM COVERED: RM1,000
- Compassionate Cash for Domestic Violence
- A cash amount is paid per year in the event of domestic violence caused by your family or household member, resulting in your personal injuries, financial loss or damage to your property.
SUM COVERED: RM500
- Miscellaneous
- Family Prosperity Bonus for delivery of twins and more
- Benefit is paid per year in the event of the birth of twins or more, by natural birth or Caesarean Section.
SUM COVERED: RM1,000
Premium
Enjoy the freedom to pay PesonaLady's premium on a monthly or yearly basis.
Eligibility
To be eligible, you must be a Malaysian Citizen or Permanent Resident of Malaysia, aged between 18 and 60 years. Policy renewal is applicable up to maximum age of 70, subject to conditions.
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