• Lonpac Insurance

    Lonpac Insurance provides a number of policies to both, individuals and businesses. Under each category, you have a number of schemes/policies to choose from. All the plans are designed to protect you, your family, or your property in case any untoward incidents.

    Lonpac Fire Insurance

    Householder’s Insurance (on belongings)/Houseowner’s Insurance (on building): The policy covers the building and its contents against fire and other risks. It also provides you with legal liability if an accident involving your home causes damage to the public. It is available for residential houses, apartments, and condominiums.

    Home Secure Plus/Mortgage Home Secure Plus: Get a comprehensive coverage that includes all the risks associated with your property. The policy covers material damage to the physical building of your home.

    Lonpac Health Insurance

    MediSecure Centurial: This is a medical insurance policy for individuals that covers hospital and surgery expenses. In addition, you can get a coverage for an organ transplant, medical report fee, outpatient cancer treatment and more.

    MediSecure Plus 2015: Extend your medical coverage with this top-up insurance policy. It pays for the costs remaining after all other policies have paid. The coverage is subject to factors, such as per disability limit and deductible per disability.

    MediSecure Booster: The excess major insurance policy can be purchased if the existing policies do not cover the entire healthcare cost. The claims are paid for necessary charges only. There is no lifetime limit applicable.

    Lonpac Liability Insurance

    Golfer’s Insurance: The policy takes care of the legal liability in the case where a damage/bodily injury is caused accidentally to a third party when you are playing golf. The cover is available when you are playing golf in any of the recognised golf course.

    Lonpac Motor Insurance

    Private Car Secure Comprehensive: The policy covers the damage caused to your car due to accidental collision and collision that occurs due to mechanical breakdown. It also covers you for the injury/death caused to a third party.

    Motor-Private Car Secure Third Party Fire & Theft: You can get a coverage for the injury/death caused to a third party with the policy. It also pays a compensation when a damage is caused to the third party property.

    Motor-Private Car Third Party: The policy provides compensation for the property damage/bodily injury caused to a third party due to an accident involving your vehicle.

    Motor-Motorcycle: The policy is available for private-use motorcycles only. The policy does not cover any damage caused by war, nuclear fission/fusion, and drunk driving.

    Lonpac Personal Accident Insurance

    All Benefits Personal Accident (ABPA): This is a basic personal accident insurance policy that covers accidental death and permanent disability. You can get an extended coverage that includes the medical expenses related to the disability caused due to the accident.

    FlexiCare PA: Choose the plan you need from the available options. It provides death and permanent disability benefits in addition to compensating for the medical expenses.

    Privilege Car Protector Insurance (PCPI): The comprehensive car insurance policy covers you, your named driver, and the passengers in the case of a road accident.

    Re-Claim: This is a sports insurance policy that provides worldwide protection for sports enthusiasts. You can receive the right medical treatment in order to recover sooner.

    Easy Travel: The travel insurance policy covers the unfortunate events that may occur when you travel. It covers bodily injuries, unexpected illnesses, and delay/interruption while on a public transport.

    TravelNet: It is a comprehensive travel insurance plan that covers accidental death and disablement. Also, the policy covers emergency hotel accommodation expenses for a family member if you are hospitalised for more than 5 days.

    Lonpac Scheme

    Domestic Servants: The policy is designed for you if a domestic maid works for you. The policy covers the bodily injury or death of your maid.

    Features and Benefits

    Fire Insurance

    Householder’s (on contents)/Houseowner’s (on building):

    • The policy provides public legal liability benefit of up to RM50,000.
    • In the case of your death, the compensation will be provided within 3 calendar months.
    • You can get loss of rent benefit when your home is damaged and cannot be inhabited.

    Home Secure Plus/Mortgage Home Secure Plus:

    • The policy covers the loss/damage caused to your home due to the acts of sabotage and terrorism.
    • Get an optional loss of rent coverage by paying a top-up amount.
    • Accidental death and total permanent disability are covered.
    • Inconvenience allowance and cash advance features are available.

    Health Insurance

    MediSecure Centurial:

    • The room and board rates and the overall annual limit will be increased by 10% once every 3 years.
    • The policy is renewable and the fine print will remain the same as the original policy after renewal.
    • No lifetime limit is applicable for coverage.
    • The entry age for the policy is valid up to an age of 70 years.
    • No age limit for renewal.

    MediSecure Plus 2015:

    • The maximum entry age for the policy is set to be 70 years.
    • You can renew the policy until any age without restrictions.
    • Get post-hospitalisation cover, ambulance fee cover, outpatient treatment coverage for cancer and kidney dialysis, and organ transplant coverage.
    • You can be a Malaysian, permanent resident of Malaysia, or a foreigner to be eligible for the policy.

    MediSecure Booster:

    • The policy is renewable up to 100 years of age.
    • The maximum entry age applicable is 70 years.
    • Get a coverage of RM1,000 per day for room and board expenses.
    • It includes a per disability limit of RM1 million.
    • You need to know that the premium will be revised once every 5 years to be on par with the raising expenses.

    Liability Insurance

    Golfer’s Insurance:

    • Death and disablement cover is applicable when injury/death occurs as a direct result of the golf game.
    • Get coverage for the litigation costs when you cause an accidental damage/injury.
    • The policy covers the damage caused to the golf club when you are playing/practising golf.
    • Get RM1,000 when you achieve a “Hole-In-One”.

    Motor Insurance

    Private Car Secure Comprehensive:

    • Get No Claim Discount when you don’t make any claims throughout the year.
    • The insurance remains valid when you drive your car in Malaysia, Singapore, and Brunei.

    Motor-Private Car Secure Third Party Fire & Theft:

    • The policy covers the damage caused to your vehicle due to fire, explosion, and lightning.
    • It covers the theft of your car.

    Motor-Private Car Third Party:

    • Get the legal costs covered to a maximum extent.
    • Enjoy the rights of recovery with the policy.

    Motor-Motorcycle:

    • Add-on coverage is available for the damage caused by flood, storm, riot, and civil commotion.
    • The coverage of the policy is available only when you drive in Malaysia, Singapore, and Brunei.

    Personal Accident Insurance

    All Benefits Personal Accident (ABPA):

    • You must be a resident of Malaysia or Singapore to get the benefits of the policy.

    FlexiCare PA:

    • Enjoy 24-hour protection with the policy.
    • The coverage can be extended to your children at no additional cost, provided that you and your spouse are insured by the policy.

    Privilege Car Protector Insurance (PCPI):

    • Enjoy extended coverage for the unfortunate events that may occur when you are travelling in the insured car in Malaysia, Singapore, and Brunei.

    Re-Claim:

    • Enjoy sport-specific rehabilitation and physiotherapy in the case of injury.
    • The policy covers medical expenses up to RM750,000.
    • Get coverage for stem cell therapy at the Kuala Lumpur Sports Medicine Centre (KLSMC).

    Easy Travel:

    • The policy adheres to the requirements of Malaysia Association of Tour and Travel Agents (MATTA).
    • The coverage will be automatically extended for up to 30 days if it is necessary while you complete your trip.
    • Covers non-refundable travel deposit/fare when you cancel a trip due to one of the listed reasons.

    TravelNet:

    • Repatriation expenses are covered by the policy.
    • In the case of a hijack, the policy pays a sum of RM200 per 24 hours.
    • Get paid for travel inconveniences, such as baggage delay, trip cancellation, and flight delay.

    Scheme

    Domestic Servants:

    • Get coverage for repatriation, hospitalisation, and surgical expenses covered.
    • You can also receive a weekly benefit of RM105 per week in the case of hospitalisation. The maximum period for the benefit is one week.

    Contact Information

    Customer Service Contact Number 03-2262 8666
    Customer Service Fax Number 03-2715 1332
    General Line Numbers 03-2262 8688 and 03-2723 7888 Monday to Thursday—8:45 a.m. to 5:45 p.m. Friday—8:45 a.m. to 4:45 p.m.
    Lonpac Home-Assist 1-300-88-1138 and 03-2053 5748
    Lonpac E-Assist 1-300-88-1138
    Travel Assist (603) 7628 3835

    Conclusion

    Choose the right insurance product that fits all your requirements. You can also use the calculator provided on the firm’s website to know about the premium you have to pay in order to get a certain coverage. Buying a policy is made easy with the online platform where you can log into your account and then buy the plan of your choice.

    FAQ

    Q. What should I do if I need immediate road assistance due to an accident?

    A. In the case of an accident, you have to immediately get in touch with the nationwide insurance road accident helpline number 1300-22-1188. Next, you have to inform the insurance company about the event, so it would be easier to make a claim later. Also, you have to report the incident to the police as soon as possible. If there are any legal procedures carried out by third parties against you, you must inform Lonpac Insurance about it too.

    Get your car repaired at one of the PIAM-approved workshops. You can then fill up the claims application form, attach all the necessary documents, and submit it at the nearest branch office of Lonpac Insurance.

    Q. How can I buy Re-Claim insurance policy?

    A. The Re-Claim insurance policy is available for purchase on the BestSportsDoctor website. You can buy the policy online, call the number 1300 889 899, or fill an online form with your contact details to get a call from the staff.

    Q. How much compensation can I expect for the reconstruction of my damaged property?

    A. A home insurance policy will provide a basic sum assured that is required to reconstruct the same quality of the home. It is not determined with respect to the market value of the property.

    Q. What happens if I cancel my policy? How is the annual premium refund calculated?

    A. The refund percentage may vary with different policies. If we consider the case of ABPA policy, Lonpac Insurance has a pre-defined set of refund percentage listed based on the date of cancellation of the policy:

    Cancellation within the Period Refund Provided (%)
    15 days 90
    1 month 80
    2 months 70
    3 months 60
    4 months 50
    5 months 40
    6 months 30
    7 months 25
    8 months 20
    9 months 15
    10 months 10
    11 months 5
    Beyond 11 months No Refund

     

    Q. What are the exceptions applicable to hospitalisation and surgical coverage under the Domestic Servants policy?

    A. Some of the exclusions applicable to hospitalisation and surgical coverage under Domestic Servants policy are:

    • Any expenses occurring within the first 30 days from the date of policy commencement.
    • Treatments for pre-existing medical conditions.
    • Any cosmetic/beauty treatment.
    • Medical expenses covered by schemes, such as the State Social Insurance Scheme.
    • Pregnancy, childbirth, and abortion.
    • Dental and non-surgical eye treatments.

    Latest News About Lonpac Insurance

    • LPI Plans to Achieve Bigger Market Share with a Reduced Profit Margin

      As a result of high competition in the general insurance industry of Malaysia, LPI Capital Berhad has witnessed a sharp fall in the net profit by 3.4% amounting to RM65.74 million. The earnings per share have come down to 16.5 sen as compared to 17.09 sen in 2QFY17. LPI has declared a dividend of 26 sen per share that will be paid on 1 August 2018.

      The decrease in net profit is seen in the second financial quarter (2QFY18) that ended on 30 June 2018 as compared to the net profit of RM68.06 million during the second quarter of 2017 (2QFY17). Also, the net profit for the first half of 2018 is reported to be RM138.24 million, which is lower as compared to RM138.63 million in the previous year.

      LPI says that a stiff competition is expected to continue due to market liberalisation in the general insurance industry. It also states that the players are taking advantage of the liberalisation in order to build their market share. LPI is working towards establishing a bigger market share by hanging on to a lower profit margin.

      BBazaar Malaysia

      10 July 2018

    • Q2 Profit of LPI Capital Dips by 3.4% to RM65.74 million

      Net profit of LPI Capital Bhd for the second quarter of 2018 has decreased by 3.4%. The profit was RM65.74 million for the Q2 that ended on 30 June 2018. For the same quarter in 2017, the recorded profit for the company was RM68.06 million. In a filing released to Bursa Malaysia, the general insurance provider has stated that lower contribution from the investment holding segment has caused this dip for the company. Moreover, LPI Capital’s fully-owned subsidiary Lonpac Insurance Bhd has also noted a drop of 1.1% in its lower gross premium income. It has decreased to 303.8 million from the previous 307.2 million.

      The company has also stated further that the new competitive environment is the reason for the compression in the profit margin, and the group has worked to recompense this lower margin with a bigger share in the market.

      The founder and group chairman of LPI Capital also asserted that the group will carry on to implement its prudent business plans to fortify its place in the market.

      BBazaar Malaysia

      10 July 2018

    • LPI Capital Records An Upraise On The Profits End

      LPI Capital Berhad witnessed an increase of 2.7% in the net profit of the company for the first quarter of 2018 as compared to the previous year, reports suggest. The net profit earned in the first quarter amounts to RM72.5 million as compared to the profit of RM70.6 million at the same time last year.

      On similar lines, Lonpac Insurance Berhad, an insurance firm owned by LPI, has also seen 20.8% increase i.e., RM216.4 million in the first quarter as compared to RM179.1 million in the same quarter last year. The insurance provider expects that the profit will be carried forward to the other 3 quarters as well.

      Lonpac’s operations have brought in a boost in the per share cost of LPI Capital from 21.82 sen in 1Q18 to 21.25 sen in 1Q17. The credit for the increase in net profits goes to the net earned premium says the company.

      In contrast, the investments segment of the company has gone through a dip in the profit before tax due to high management fees in the first quarter. The profit before tax is RM14.3 million in 2018 whereas in 2017 in RM14.7 million.

      BBazaar Malaysia

      19 April 2018

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