Boost launches seven-day insurance cover ‘Aspirasi Protect’
KUALA LUMPUR: As Malaysians begin to enjoy more liberties such as being allowed to travel interstate, get a haircut and commence outdoor activities amid the Recovery Movement Control Order (RMCO) in effect, homegrown e-wallet Boost collaborates with its sister company Aspirasi to launch ‘Aspirasi Protect’, a seven-day insurance cover at only RM1.50 and comes with Covid-19 Assist.
The micro-insurance plan by Aspirasi, a digital financing service provider, provides affordable, accessible and on demand protection to give Malaysians a secure boost of confidence as the country eases restrictions.
The micro-insurance solution by Aspirasi builds on the ‘Protect’ pillar of the existing #BoostGotYou campaign launched during the Movement Control Order (MCO), which focused on catering to the daily necessities of businesses and households amid the outbreak.
With just RM1.50, the ‘ Aspirasi Protect’ seven-day insurance coverage offers up to RM37,500 for accidental death of various causes, RM12,500 for critical illness protection for major head trauma or coma, and RM5,000 bereavement benefit upon accidental death.
Keeping in mind that Covid19 would most likely remain a threat for a long period of time, the plan comes with additional financial assistance in the form of RM200 daily hospitalisation cash assistance upon diagnosis of Covid19 up to a maximum of 60 days of hospitalisation and RM20,000 financial assistance upon fatality due to the virus.
Covid-19 Assist is an additional financial assistance programme offered by Great Eastern Life Assurance (Malaysia) Berhad.
Boost chief executive officer Mohd Khairil Abdullah said that the Covid-19 pandemic has given all a wake-up call when it comes to safeguarding health as all are now feeling the ripple effects.
“Boost understands that our health is our wealth. As the economy begins to reopen, it is the right window of opportunity to expand our offerings beyond just a payment option but also an ewallet that offers affordable and accessible insurance coverage.
“This is aligned with our longterm goals towards achieving a complete financial services offering. With that, we do hope Malaysians can be assured and have peace of mind that they are protected and covered when going about their daily lives in this ‘ new norm’,” he said. Echoing Khairil’s sentiments, Aspirasi executive director Sheyantha Abeykoon said that at Aspirasi, their goal is to narrow the protection gap in the country and they aim to achieve this by offering affordable and customisable microinsurance solutions.
“As we navigate our way along with our customers during this unprecedented situation that is continuously evolving, we have been focused on innovating and developing new solutions to ensure that all Malaysians have simplified access to the right protection based on their needs,” he said.
As a way to encourage users to obtain insurance coverage and protection, Boost will be offering 100 per cent cashback for users who enrol for the seven-day insurance plan from now until July 15.
Users can sign up in-app under the ‘Boost Protects’ tile by clicking to enrol via the ‘ Aspirasi Protect’ micro-site. From there, enter personal details and make a payment with Boost to get covered for a week. To be eligible for ‘Aspirasi Protect’, users must be aged between 18 and 69 years next birthday and must be a Malaysian citizen or permanent resident in the country.
The insurance coverage is underwritten by Great Eastern Life Assurance (Malaysia) Berhad. There are terms and conditions.