COVID-19 Relief Programs

COVID-19
Relief Programmes

COVID-19 Test Fund (CTF)

The insurance and takaful industry has pledged RM8 million to establish a special COVID-19 Test Fund (CTF) to support the Ministry of Health (MoH) efforts to conduct more COVID-19 tests for Malaysians. More information on eligibility and Frequently Asked Questions is available.

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Deferment of premium payment

Frequently asked questions
We provide premium payment deferment for our customers during this time. Read on to find out how to apply and if you are eligible.

Questions

Answers

1. What is deferment of premium/contribution payment under this Relief Program?

 

 

This Relief Program is to give the eligible policy/certificate holders a deferment period of 3 months to pay the premium/contribution for their insurance policy/takaful certificate. During this deferment period, we will continue to provide insurance/takaful protection. This is NOT an automatic premium/contribution deferment program. Therefore, policy/certificate holders must approach the insurer/takaful operator to apply for this Relief.

2. Who is entitled to this Relief Program?

This Relief Program is open to all in-force Prudential policy/certificate holders who are financially affected by COVID-19 or the Movement Control Order (MCO). This includes policy/certificate holders who are quarantined at home or suffering from loss of income from work or business due to MCO and slowing down of economy during the pandemic.

For new applications in 2021, the policy/certificate MUST have been incepted BEFORE 1 January 2021.

3. Can I re-apply for this Relief Program if I have applied before?

Policy/certificate holders who applied for the Relief Program and obtained/received approval by Prudential in 2020 may re-apply in 2021 if their financial position continues to be impacted by the pandemic as stated under Q&A number 2 above.

4. How many times can I apply for this Relief Program?

Policy/certificate holders of Prudential are eligible to apply once in 2020, and once more in 2021, subject to meeting the criteria as stated under Q&A number 2 above.

5. When is the effective date for this Relief Program?

This Relief Program initially took effect from 1 April 2020 until 31 December 2020 (both dates inclusive) as an industry-wide initiative. Prudential subsequently extended it to 31 December 2021 (inclusive). The deferment of premium/contribution, if approved by Prudential, will be up to a maximum of 3 months from the date of approval. 

For example: 
Payment Deferment Application submitted in May 2020 
Payment Deferment Application approved and commences on 1st June 2020 
Deferment period ends on 31st August 2020

In 2021, policy/certificate holders who are still facing financial difficulty may apply for this program again, subject to the terms and conditions of this Relief Program. 
• 2nd Payment Deferment Application submitted in Jan 2021 
• Payment Deferment Application approved and commences on 1st Feb 2021 
• Deferment period ends on 30th April 2021

 6. How do I apply?

 

Prudential policy/certificate holders may submit their application by sending the following documents to customer.mys@prudential.com.my (for Prudential Assurance Malaysia policyholders) or penangguhan.sumbangan@prubsn.com.my (for Prudential BSN Takaful certificate holders), with the email subject title:

PAYMENT DEFERMENT APPLICATION: POLICY/CERTIFICATE NUMBER XXXXXXXX
1. Doctor’s Letter confirming COVID-19 infection (if policy/certificate holder is infected),
2. Employer’s Letter of Salary Reduction/Termination Letter, or
3. Letter of Closure of non-essential businesses by Business Owners, or
4. Other relevant proof or documents, if any (example: hawker center closure notice)

NOTE: To be eligible for this Relief Program, the policy/certificate MUST be incepted BEFORE 1 January 2021.

IMPORTANT: To safeguard our customers' interests and ensure authenticity of the requests, Prudential will only accept applications received from the email address that you have registered with us. Please update your contact details via PRUAccess Plus or PruBSN Touch

7. Things to know about the deferment of premium/contribution payment.

 

This is NOT a waiver of premium/contribution.

There is no late payment interest for insurance policy or administrative charges imposed for takaful certificate throughout the deferment period.

For investment-linked certificate, monthly Tabarru` deductions will continue to be deducted.

If your application is approved, your policy/certificate coverage will remain in force during the deferment period.

Once the deferment period ends, your contractual provisions regarding premium/contribution payment continue as usual.

8. If I encounter a problem in updating my email address via PRUAccess Plus or PRUBSN Touch, how can I update my email address?

You may contact our Call Centre, Monday to Friday for assistance:
Prudential Assurance Malaysia - 03 – 2771 2428
Prudential BSN Takaful - 03 – 2775 7188

9. How long does it take to process the application?

 

It takes 7 working days to process the application from the date of receiving the application and relevant proofs or documents.

10. Can I apply for the Relief Program if I have outstanding premiums/contributions before the commencement of the deferment period?

Eligible policy/certificate holders with in-force policy/certificate that remains in-force at the time of assessment may apply for this Relief Program.

11. Can I apply for multiple policies/certificates in one email for payment deferment?

You may list all the policy/certificate numbers in one email when applying for the payment deferment to customer.mys@prudential.com.my (for Prudential Assurance Malaysia policyholders) or penangguhan.sumbangan@prubsn.com.my (for Prudential BSN Takaful Malaysia certificate holders), with the email subject title:

PAYMENT DEFERMENT APPLICATION: POLICY/CERTIFICATE NUMBER XXXXXXXX

We would urge you to carefully consider the application for the payment deferment as:
• Payment deferment is NOT a waiver of premium/contribution.
• Once the deferment period ends, policy/certificate contractual provisions regarding premium/contribution payment will resume as usual. All outstanding premium/contribution must be met. Please refer to the policy contract/takaful certificate to understand what happens when there is non-payment of premium/contribution.

12. What is the minimum income level to be eligible for this Relief Program?

There is no minimum income level imposed, as long as you fulfil the eligible criteria for this Relief Program.

13. Do I need to pay back the premium/contribution after the deferment period ends?

You need to pay back the deferred premium/contribution once the deferment period ends to avoid lapsation of your policy/certificate. Please note that if your policy/certificate account value is low or zero, there is a possibility that your policy/certificate may lapse immediately after the deferment period ends. To ensure your policy/certificate remains inforce, please remit the outstanding premium/contribution before the deferment period ends.

14. If I have paid advanced premium/contribution, will I still be eligible for this Relief Program?

As your premium/contribution is not due yet, we advise you to submit your application one month before your next premium/contribution due date.

15. How will I know my application for payment deferment has been successful?

You will receive an SMS/email notification from Prudential confirming whether the application has been approved or declined.

16. Can I get help from my servicing agent to apply on my behalf for this Relief Program?

Submission by rightful policy/certificate holder is required, via email address registered with Prudential. For submission via servicing agent, we would require a written consent together with the necessary evidence in supporting the deferment application.

17. Will my policy/certificate lapse during the deferment period?

The policy/certificate shall remain in-force during the payment/contribution deferment period if the application is approved.

18. Will the term of my policy/certificate be extended from this deferment measure?

The term of the policy/certificate shall remain unchanged.

19. If my policy premium/certificate contribution deduction is via credit/debit card, bank autodebit, or standing instruction, what should I do when my application has been approved?

Upon approval of the Relief Program:
a. Prudential will stop the premium/contribution deduction via credit/debit card and autodebit until end of the deferment period.
b. For policy/certificate under bank standing instruction, you would need to notify your bank to stop the payment.

20. Once the deferment period ends, what should I do to continue with the credit/debit card, autodebit and standing instruction?

a. For policies/certificates registered under credit/debit card deduction or autodebit, once the deferment period ends, the deduction through credit card/debit card or autodebit resumes with one instalment premium/contribution payment at a time. If you wish to pay any outstanding amount to update your premium, you may do so via PRUAccess Plus/PruBSN Touch or through Prudential/PruBSN Corporate portal.

b. For bank standing instruction, you are required to notify your respective bank to resume the payment.

21. Do I have other options besides this Relief Program?

 

You may consider other options like reducing the sum assured/sum covered, supplementary (rider) benefits or cancellation of some benefits from your policy/certificate to reduce the premium/contribution amount. Please consult your Prudential servicing agent/bank representative for advice.

22. If I have already claimed for the Special COVID-19 Benefit offered by Prudential, am I still eligible to apply for this Relief Program?

Yes, you are still eligible for this Relief Program if you fulfill the criteria i.e. all in-force Prudential policy/certificate holders who are financially affected by the COVID-19 or the Movement Control Order (MCO).

23. If my policy/certificate lapses after the deferment period ends, can the policy/certificate be revived?

 

You can apply for revival of your policy/certificate by submitting the revival application form as per existing process and requirement.  

Alternatively, you may contact your Prudential servicing agent/bank representative for assistance.

24. During the payment deferment period, if there is a need for claim submission, would Prudential cover regardless whether the repayment is made?

Claim submission by policy/certificate holders shall be considered subject to the usual fulfilment of claim requirements and assessment. The claim payable will be deducted by the total outstanding premium/contribution including the amount due within the deferment period (plus any other deductible based on the terms of the policies/certificates).

25. What happens if the policy/certificate holder passes away within the 3 months deferment period?

In the event of death occuring within the deferment period, the claim payable will be deducted by the total outstanding premium/contribution including the amount due within the deferment period (plus any other deductible based on the terms of the policies/certificates).

For further enquiries, you may contact our Call Center.

Monday to Friday:
Prudential Assurance Malaysia 03 – 2771 2428
Prudential BSN Takaful 03 – 2775 7188