Kuala lumpur: Generali Insurance Malaysia Bhd (Generali Malaysia), in collaboration with Amanah Raya Bhd, has introduced Gen Sinar, a new personal accident insurance plan aimed at providing financial protection to underserved families. The plan is designed to ensure the continuity of children's education in cases of accidental death or permanent disability of the family's breadwinner.
According to BERNAMA News Agency, Generali Malaysia emphasized that Gen Sinar was developed after gaining insights from underserved communities, who prioritize their children's educational success and future. Despite the immediate need to meet daily essentials, these communities express concerns about long-term security and the impact of unforeseen events on their livelihoods.
Fabrice Benard, the chief executive officer of Generali Malaysia, highlighted that Gen Sinar transcends a typical insurance plan, positioning itself as a social protection initiative driven by purpose and operating on a non-profit model. The initiative aligns with Generali's global movement, 'The Human Safety Net,' focusing on empowering vulnerable communities by providing accessible protection to ensure that children can continue their education under challenging circumstances.
Generali Malaysia detailed that Gen Sinar offers financial support with an initial payment of RM91.28 for the first year and RM59.40 for subsequent years, inclusive of stamp duty and an eight per cent service tax. The plan provides a lump sum payment of RM20,000 in the event of accidental death or permanent disability of the breadwinner, along with a monthly education allowance of RM250 per child until the age of 18, totaling up to RM100,000.
The insurance plan also includes a complimentary telemedicine consultation benefit, enabling families to access healthcare professionals via phone or video calls, providing up to two sessions per year valued at RM60 each. This benefit aims to support both physical and mental well-being for underserved families.
Amanah Raya administers all education benefits as the trustee, reflecting the close partnership with Generali, built on a shared vision for community support. Jack Yap Ngee Heong, Amanah Raya's acting group managing director and group chief business and operating officer, expressed that the collaboration emphasizes a commitment to providing financial protection and educational support to underserved families. Amanah Raya, as Malaysia's only public trustee, underscores its broader responsibility to positively impact the communities it serves through initiatives like Gen Sinar.