Phnom Penh, 25 May 2021 – AIA (Cambodia) Life Insurance Plc (“AIA Cambodia”) is keeping to its customer-first promise by providing monetary support in the form of a two-month premium deferment to those financially affected by COVID-19.
The insurer’s offerings, under its AIA Covid Care program, are the latest in a series aimed at easing the financial burden of customers impacted by the coronavirus or ongoing preventive measures. Individuals diagnosed with COVID-19, those who have lost their livelihoods or have had their business affected and others facing similar financial hardship who have their renewal premium payments due from 24 May until 31 August 2021 will be allowed to defer them to the next two months.
This gesture of goodwill gives customers the opportunity to focus their resources on more urgent needs. As an added measure, AIA Cambodia has also relaxed their reinstatement requirements for lapsed policies to ensure customers continue enjoying protection and peace of mind.
The AIA Covid Care program was introduced to support customers impacted by Covid 19 via numerous channels, including free COVID-19 coverage until June 30, 2021. This gives them a hospitalization allowance of $500 if found positive and a death benefit of $5,000 on top of the existing coverage and benefits. It also provides income protection to those experiencing side effects from three government-approved vaccines (hepatitis B, seasonal influenza and COVID-19). These customers are automatically entitled to receive similar hospitalization allowances and death benefits until December 31, 2021.
Policyholders also have an option to review their premium amounts or change their payment mode to cope with any change of income they might face.
Mr. Andrew Loh, Chief Executive Officer of AIA Cambodia* said: “Our customers’ livelihoods and incomes may be affected by the pandemic. Postponing their premiums, with no hidden costs or strings attached, will hopefully allow them to take care of their loved ones, stay safe and healthy and sort out their monetary issues.
“All our COVID-19 measures prioritize customer wellbeing and financial health. Regardless of the situation, AIA Cambodia will continuously look to support and benefit them in line with our brand promise of helping everyone lead healthier, longer, better lives.”
To discover more about how AIA helps Cambodians lead healthier, better, longer lives whatever the situation, please contact an AIA Life Planner /Client Care at 086 999 242 or visit aia.com.kh.
*subject to regulatory approval
AIA Group Limited and its subsidiaries (collectively “AIA” or the “Group”) comprise the largest independent publicly listed pan-Asian life insurance group. It has a presence in 18 markets – wholly-owned branches and subsidiaries in Mainland China, Hong Kong SAR(1), Thailand, Singapore, Malaysia, Australia, Cambodia, Indonesia, Myanmar, the Philippines, South Korea, Sri Lanka, Taiwan (China), Vietnam, Brunei, Macau SAR(2) and New Zealand, and a 49 per cent joint venture in India.
The business that is now AIA was first established in Shanghai more than a century ago in 1919. It is a market leader in Asia (ex-Japan) based on life insurance premiums and holds leading positions across the majority of its markets. It had total assets of US$326 billion as of 31 December 2020.
AIA meets the long-term savings and protection needs of individuals by offering a range of products and services including life insurance, accident and health insurance and savings plans. The Group also provides employee benefits, credit life and pension services to corporate clients. Through an extensive network of agents, partners and employees across Asia, AIA serves the holders of more than 38 million individual policies and over 16 million participating members of group insurance schemes.
AIA Group Limited is listed on the Main Board of The Stock Exchange of Hong Kong Limited under the stock code “1299” with American Depositary Receipts (Level 1) traded on the over-the-counter market (ticker symbol: “AAGIY”).