KUALA LUMPUR (Sept 4): Hong Leong Assurance Bhd (HLA) is offering complimentary retrenchment benefits to its policyholders, specifically those whose livelihoods have been adversely affected by business closures and retrenchment due to the current economic downturn arising from the Covid-19 pandemic.

In a statement today, HLA said that unexpected retrenchment and loss of income can result in difficulties in paying insurance payments, which is why it is offering the complimentary retrenchment benefit at no extra cost to customers.

HLA said under the benefit, customers between 18 and 60 years old — who had been actively working and suddenly faced unexpected retrenchment — will receive six months of premium relief of up to RM3,000 (terms and conditions apply).

“This is our way of enabling them to keep their insurance protection active for as long as six months and providing them peace of mind until they are able to find and adjust to a new job,” said HLA.

The firm said the benefit is given to all customers purchasing HLA CompleteCover, HLA Asset Secure or HLA Asset Protector Matrix coverage for July 1, 2020 to June 30, 2021, provided that their policy is active and in force for at least 12 months, and that they had been in employment continuously for a year.

“This is our way of walking the extra mile to provide monetary support to our esteemed customers to ease their financial commitments after retrenchment,” said HLA.