Perks And Mastercard Bring Relief To Malaysians With Innovative Vehicle Insurance Plan

A new collaboration between PERKS by AXXESS and Mastercard is poised to extend the protection of Malaysian motorists and their families during this economically difficult Covid-19 period. As part of a Memorandum of Understanding (MoU) signed between both parties, motorists will receive added insurance coverage in the form of complimentary Personal Accident insurance worth up to RM500,000, valid for between one to 12-months when they renew their insurance with PERKS and pay using a debit or credit Mastercard card.

According to PERKS Chairman, YAM Tunku Naquiyuddin ibni Almarhum Tuanku Ja’afar, “We have been mindful of the difficulties faced by Malaysians during this present pandemic, and it was important for us to be able to ease their worries with the right collaboration.”

“Covid-19 has changed how Malaysians live and work, which in turn has resulted in people reassessing their priorities. Across the world, Mastercard is working with different partners, including fintech providers, to keep up with constantly changing times and also provide consumers with what they need now the most. The association with PERKS is an example of Mastercard’s commitment to deliver innovative initiatives to Malaysians that not only provide seamless and secure payments experiences, but also help them better navigate through challenging times,” said Mr. Devesh Kuwadekar, Vice President of Market Development, Mastercard.

In addition, anyone renewing their motor insurance with PERKS, will also be entitled to complimentary Covid-19 insurance, which offers up to RM1,000 cash in the event of hospitalisation or quarantine at MOH approved quarantine centres, subsequent to a Covid-19 infection. A further RM5,000 will be disbursed in the unfortunate event of a death due to Covid-19 or an accident.

In consideration of the financial difficulties faced by many Malaysians due to the Covid-19 lockdowns, PERKS is also offering the option for vehicle owners to pay for their road tax and motor insurance in 3 equal interest-free instalments. “We hope the flexible payment option will play a part in alleviating their financial burden,” added YAM Tunku Naquiyuddin.

In a further effort to help customers reduce their immediate cash outlay, PERKS will within the next few weeks, offer customers the option of consolidating loyalty and reward points from all participating partners, to pay in full or partially, their road tax and motor insurance premiums. This includes AXXESS points issued by PERKS’ sister company, Shieldcard Holdings Sdn. Bhd.

Customers may choose from a list of participating insurers at the PERKS online road tax and motor insurance renewal portal, The simple online process requires a registration and a quote request from their preferred insurer, after which customers can decide if they wish to pay in full or by instalments before paying online. Customers will receive their insurance cover-note by email, and their road tax disc will be delivered to their home.

5 October 2021

Author: Terry KS

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