Medical Plan Revision
Additional Measure To Assist Our Customers
Thank you for choosing Prudential as your preferred insurer. At Prudential, we are committed to providing you with financial freedom and peace of mind, especially during this Covid-19 pandemic period. In line with our commitment to help our customers get the most out of life, we are pleased to announce that we are offering Temporary Switch that you can consider to better suit your protection and financial needs.
Change to a lower plan and subsequently switch back to original plan without underwriting assessment.
If you have changed your medical plan to a lower plan (“medical plan endorsement”) for a more affordable premium within 1 January 2021 to 30 June 2022, we will accept your application to switch back to the original medical plan in the same policy within 12 months period from the medical plan endorsement, without underwriting assessment.
Please note that any existing exclusions and/or loadings will continue to apply. You may refer to the FAQs for more details on this Temporary Switch option.
Other Available Options
You may also consider other options such as:
Perform policy review which include altering your premiums and coverages to better suit your needs;
Change your premium payment frequency to reduce lump sum financial commitment (if applicable). The premium amount may be adjusted based on premium rate that applies for the revised payment frequency; or
Apply for our Covid-19 Relief Programme which is available until 31 December 2021. For more details on the Covid-19 Relief Programme, please visit Deferment of Premium Payment | Prudential Malaysia.
We encourage you to contact your Prudential Wealth Planners or Bank Representative should you wish to consider any of these options that may better suit your protection and financial needs.
You may also contact us at 03-2771 2450 (Monday-Friday, 8.30am - 5.15pm, excluding Public Holidays) or email us at email@example.com.
We hope this additional measure will provide you with peace of mind in these challenging times.
Thank you for your support and trust in Prudential.
Frequently asked questions
What is Temporary Switch?
Temporary Switch is a one-off offering by Prudential Assurance Malaysia Berhad to assist customers during this pandemic period. Customers who change their medical plan to a lower or more affordable plan (based on existing options available for the this change of medical plan) (“medical plan endorsement”) between 1 January 2021 and 30 June 2022, are allowed to switch back to the original medical plan in the same policy without underwriting assessment within 12 months from the medical plan endorsement.
Once the switch back endorsement is completed, the original medical plan and its applicable premium/charges will start to take effect immediately.
Existing options available for medical plan endorsement are downgrading plan size, room and board; reducing the annual limit/Med Value Point; or increasing the deductible/Med Saver within the same medical plan (where applicable).
Please note that any existing exclusions and/or loadings will continue to apply.
Who are eligible for this Temporary Switch?
Customers who own policies that meet the criteria below are eligible:
Attached with medical plan that is affected by 2020/2021 medical plans’ insurance charges and premiums revision
Endorsed to change to a lower/more affordable medical plan as described in Question 1 between 1 January 2021 and 30 June 2022. We will use endorsement submission date to determine fulfilment of this eligibility criteria
Submit request to switch back to the original medical plan* within 12 months from the medical plan endorsement
*Refers to the medical plan type, which the policy is attached to right before the medical plan endorsement.
Please note that customers who do not fulfil any of the criteria above will be subject to normal underwriting, terms and conditions of the policy, and availability of the medical plans, for any applications submitted to change the medical plan.
How to apply for this Temporary Switch?
When you switch back to your original medical plan through the existing endorsement application process, please ensure that there is an indication that the request is for Temporary Switch in the amendment form or at the top of the Supplementary Proposal Form (e.g. instruction field). Please note that the endorsement will subject to normal underwriting if there was no such indication.
Existing premium quotation process and Policy Alteration Sustainability Statement (PASS) will still be required as per current practice.
How will this impact my coverage or claims?
Your medical coverage will be based on the medical plan that is attached to your policy at the point of claim event.
Is there any waiting period imposed after I switch back to my original medical plan?
The waiting period will be waived upon switching back to the original medical plan for this Temporary Switch. For any other variation to the medical plan, the normal waiting period will apply.
Am I still eligible for this Temporary Switching, if subsequent to the medical plan endorsement, I change to a medical plan that is not the original medical plan?
No, you will not be eligible for this Temporary Switching. Your application to change to a medical plan that is not the original medical plan, will be subject to normal underwriting, terms and conditions of your policy, and availability of the medical plans.