Today, there are many insurance companies that provide Employee Benefits Insurance packages, but the main challenge for employers is finding a plan that provides value for money, especially when it comes to customising the sum assured according to their business needs and budget.

Moreover, employers have to consider a plan that is hassle-free, especially when it comes to the enrolment process, because employees are usually required to fill up various questionnaires and go for health check-ups that can be arduous and time-consuming.

Taking the difficulties faced by Malaysian employers into consideration, Allianz Life Insurance Malaysia Bhd (Allianz Life) has rolled out various comprehensive Employee Benefits Insurance plans, which help employers to provide the protection and perks that their employees deserve. At the same time, Allianz Life aims to provide a hassle-free experience for employers by coming up with plans that eliminate the need for health check-ups and questionnaires — as long as certain requirements are met.

Allianz Employee Benefits Insurance plans offer an array of coverage to ease the financial burden of family members should any unforeseen traumatic event happen to the employee. For example, Group Term Life Insurance provides payments upon death, accident and illness, while Group Medical Insurance coverage takes care of the major medical costs upon hospitalisation, including COVID-19 admissions, outpatient cancer treatments, kidney dialysis treatments, outpatient clinical care, maternity care and specialist consultation fees, which can be extended to the dependents of the employees.

Allianz Employee Benefits Insurance plans also offer enhanced services with value-added benefits, such as hospital admission privileges, tele-consultation for outpatient treatment, delivery of medication and home care services where patients can receive medical-assisted attention in the comfort of their home. In addition to that, the Allianz We Care Community programme provides a wide variety of healthcare and lifestyle benefits to help build a healthy and resilient community.

The enrolment process for Allianz Employee Benefits Insurance plans is hassle-free as there is no need for employees to undergo health check-ups or to fill out questionnaires, as long as the requirements are met. To qualify for this, an employer would need to enrol for the plan for at least 12 months with an Allianz Life authorised agent.

Allianz Employee Benefits Insurance plans cater for corporations of all sizes. Small and medium enterprises (SMEs) can take up the Allianz SME Choice Plus with pre-packaged plans. Allianz SME Choice Plus offers SMEs the flexibility to choose between Group Term Life and Group Hospitalisation and Surgical or get both plans under one coverage. It also comes with a wide range of plan selections and optional riders for SMEs to boost their coverage according to their needs.

For large corporations, they can opt for customisable Employee Benefits Insurance, which provides employers the flexibility to mix and match the benefits according to their needs and budget. Furthermore, if their budget allows, the coverage can be extended to the dependents of their employees.

In today’s fluid environment, where COVID-19 still poses a threat to workplaces and affects the way businesses are conducted, it is important for employers to find out whether their coverage includes COVID-19 admissions. They should also enquire about the claims process, as ideally, it should provide an end-to-end seamless experience, from hospital admission or clinic visit to the patient’s recovery, which Allianz Life readily provides for.

It is important to consider the services and support provided by an insurer. For example, Allianz Life provides services for outpatient clinical tele-consultation, delivery of medication and home care medical support, as well as organises talks for its corporate clients to help keep employees engaged. Health experts are invited to give talks on trending topics such as COVID-19, mental wellness and healthy diets, among others.

On the part of employees, Allianz Employee Benefits Insurance plans help alleviate the cost pressure of high medical bills. While the first layer of health insurance is usually taken care of by employers, employees have the option of enhancing or topping up their health insurance coverage all the way until their retirement.

At an affordable premium, employees can increase the limit of their health insurance up to RM1.5 million by taking up Allianz FlexMed Care. This product complements the Employee Benefits Insurance by offering various deductible levels, ranging from RM15,000 to RM100,000. With deductibles, the first layer of a medical claim is always made payable from the Employee Benefits Insurance policy. Any medical claims in excess of the policy shall then be payable from the employee’s own Allianz FlexMed Care policy.

Moreover, when employees retire and are no longer covered by the Employee Benefits Insurance, there are options to convert the plan to zero deductible at retirement with a guaranteed renewable insurance coverage up to 90 years old so that employees can enjoy a worry-free retirement.

In view of rising medical costs, employees must understand that having an enhanced plan is important to ensure they stay protected with continuous health insurance throughout their life.

Employers’ responsibility to their employees goes beyond the salary and remuneration package. Thus, having a competitive edge can serve as a way for employers to attract and retain talents in an increasingly demanding workforce.

With Allianz Employee Benefits Insurance plans, the intrinsic benefits for employers are aplenty, as employees look for companies that offer meaningful benefits that take care of them and their family. This provides employees with a sense of security — something much sought after, especially in these times.