KUALA LUMPUR (Sept 3): Digital finance platform ShopeePay has partnered with Allianz General Insurance Co (M) Bhd to make essential coverage more accessible and affordable for underserved communities through the roll-out of two new personal accident insurance plans.

The two insurance plans are priced at annual premiums of RM50 and RM75, eligible to all Malaysian citizens aged 18 to 59, they said in a joint statement.

These insurance plans, available on both ShopeePay and Shopee apps, are included in the Perlindungan Tenang Voucher 3.0 (PTV) programme launched by the government on Monday.  

Through PTV, recipients of the government cash aid programme Sumbangan Tunai Rahmah are eligible for a RM30 subsidy, which can be claimed using the ShopeePay or Shopee app.

This means that insurance customers are able to access comprehensive protection as low as RM24 and RM51, including sales and service tax (SST), depending on the chosen plan, the statement read.

The sum insured for the insurance benefits varies according to the chosen plan.

Benefits include coverage for death or permanent disability of RM30,000 or RM50,000, hospital income of RM50 or RM100 per day for up to 30 days per year, and medical expenses up to RM500 or RM750. 

Hospital and medical coverage applies only to government hospitals. The plans also provide emergency relief in the event of flood evacuation, valued at RM500 or RM750.

"Through this initiative, we are proud to support Bank Negara Malaysia’s Perlindungan Tenang programme, which promotes financial inclusion by making essential protection more accessible to underserved communities," they said.

"This effort is also in line with ShopeePay’s ‘Simple Finance for All’ mission, which focuses on breaking down barriers so that everyone can access financial products with ease," the statement added.