Manulife Insurance Bhd (Manulife Malaysia) has launched the latest addition to its health solutions called Manulife MediShield.
It is a life and medical insurance plan designed specifically for the Gen-Z population.
The MediShield provides accessible coverage to the mass market's young adults through a simple enrolment process and affordable premiums, ensuring financial security from an early stage of life, Manulife Malaysia said.
"The Gen-Z segment is the current generation embarking on their journey into the workforce. Protection for both financial and physical well-being is both essential and vital.
"Manulife MediShield is tailored to suit the needs of this segment, budget-friendly and benefits as a foundation that would help them build a better future," it added.
The key benefits of the plan include coverage against death, total and permanent disability and medical expenses coverage such as pre- and post-hospitalisation charges, intensive care services, surgical expenses and out-patient benefits for a coverage period of 30 years.
"One of the standout features of Manulife MediShield is its affordability and flexibility," said Ms Vibha Coburn, Chief Executive Officer of Manulife Malaysia.
The plan boasts no lifetime limit on medical coverage and an auto-increase of 10% annual limit each year, up to a maximum of 50%, regardless of claims history.
Additionally, customers can enjoy up to 40% no claim discount on insurance charges for medical benefits.
Ms Coburn said with Manulife MediShield, it aims to empower Gen-Z to take control of their financial future by providing them with affordable and comprehensive life and medical insurance coverage.
"The common reason of not having enough money or the impression that being single and non-dependent to anyone is something that is frequently heard by young adults.
"As life changes, Manulife MediShield can be an affordable approach to supporting your living expenses and loved ones financially," she added, reported New Straits Times.