Etiqa Takaful pleased with new product’s performance
MALAYAN Banking Bhd’s (Maybank) takaful arm, Etiqa Takaful Bhd, is targeting to sell 20,000 policies of
its latest offering, the Etiqa Takaful Medic-Save Rider, next year.
The product, an add-on medical coverage to four of Etiqa’s mother takaful plans, had its soft launch in
February and is now attached to more than 5,000 policies.
“We had a target of 2,000 and this latest figure show we have surpassed it by some 60 per cent,” Etiqa agency
head Ab Latiff Abu Bakar told reporters after the official launch in Kuala Lumpur recently.
The product is an option for customers when they purchase any of four Etiqa policies – Takaful Mesra,
Takaful Prime, Takaful Warisan and Ehsan Takaful – for an average premium of between RM30 and RM40 a
It covers 90 per cent of medical and hospitalisation bills and comes with a medical card for hassle-free
admission to more than 190 panel hospitals.
Ab Latiff attributed the product’s overwhelming response to features such as its outpatient physiotherapy
treatment, surgical opinion and guaranteed renewal of up to 75 years of age.
He said it was also the first of its kind, traditional family takaful-based medical plan, meaning that customers
will get additional coverage for funeral expenses that are not offered under the general takaful schemes.
Contributions can be made either monthly, quarterly or yearly.
Etiqa, which has an asset size of RM3.8 billion, has 12,000 agents. The number is said to be growing by 3,000
to 4,000 a year.
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