Sunday, March 6, 2016

AXA AFFIN Unveils 1st-in-the-Market Cancer Insurance To help Malaysians Stand Up to Cancer With Confidence

Cancer is ranked as the top critical illness claim in Malaysia and with 1 in 4 Malaysians at risk of developing cancer, the best strategy is to be prepared now. To empower Malaysians to be confident and stand up to cancer, AXA AFFIN Life Insurance Berhad has launched its first-in-the-market AXA Cancer Care. The all rounded cancer insurance protection plan goes beyond financial protection to include emotional and mental support at prevention, during treatment and recovery stages.

“Nobody wants cancer to happen. Nonetheless, cancer is an unexpected disease and it can hit anyone at any age. A major concern among cancer patients today is the cost of treatment and emotional experience during treatment. Cancer not only impacts our health but can instantly wipe-off accumulated years of savings if one is not well prepared. Besides the huge financial challenges that patients will face, there is also the emotional stress of coping with this disease,” said Mr. Loke Kah Meng, Chief Executive Officer of AXA AFFIN Life Insurance Berhad.

“Hence, beyond financial protection, we wanted to meet our customers’ needs and create a holistic protection plan that extends a helping hand to support them emotionally and mentally,” said Mr. Loke.

AXA Cancer Care offers financial support right from diagnosis to treatment and recovery stages. The benefits include a comprehensive financial support in the form of Therapy Care Benefit to pay for cancer care; Get Well Benefit with additional funds for recovery process; Living Income Benefit to pay for living expenses; Alternative Treatment Benefit for alternative treatment options and Second Medical Opinion, upon the diagnosed cancer condition.

Through the AXA Care Benefit, policyholders have access to 24 hours, 7 days a week concierge service arrangement, access to support and assistance ranging from psychological consultation, dietician, hair and wig care services, transport arrangement and more.

AXA Cancer Care features two exclusive cancer insurance protection plans with varied benefits and flexible options that prioritize customers’ needs. The AXA 200 Cancer Care is available for purchase online and AXA 360 Cancer Care is available through agency distribution.

 “At present, there is a low market penetration rate of critical illness or cancer insurance plan in Malaysia. With an estimation of only 24 per cent in the year 2015, this reflects a significant protection gap. Recent statistics have also revealed that close to 50 per cent of cancer patients will be financially broke a year after diagnosis. For cancer patients, suffering substantial financial loss can be catastrophic. Therefore, it is essential to have a solid cancer insurance plan that is able to provide sufficient security and protection,” said Mr. Loke.

“With skyrocketing medical inflation and the risk of catastrophic treatment expenditure, cancer patients will face huge financial challenges. Furthermore, if a cancer patient is the sole bread winner for the family, the household income will also be compromised,” added Mr. Loke.

“By introducing AXA Cancer Care, we hope to meet the all-rounded cancer care needs of Malaysians and encourage them to take steps to protect themselves now,” he added.

We are committed to build better understanding on the risks of cancer. And so, AXA Cancer Care goes beyond financial preparedness by providing regular insightful cancer awareness information, prevention tips and expert advices by medical specialists via the Learn My Protection online portal. Free Health Screening Vouchers are also available as AXA AFFIN is partnering with Beacon Hospital Malaysia as part of its preventive efforts.

Since 2013, AXA AFFIN has partnered with National Cancer Society of Malaysia (NCSM) to support cancer patients. AXA AFFIN will continue this partnership with NCSM to provide support and advice on cancer and coping with cancer to Malaysians. AXA AFFIN has pledged to donate RM1 to NCSM for every inspiring message shared by the public to empower Malaysians to stand up to cancer. The donation is to support the operations of NCSM’s Cancer Information System which allows Malaysians to access accurate, evidence-based information as well as to provide emotional support to people affected by cancer.

“With AXA Cancer Care, Malaysians can now have full confidence of immediate access to treatments without financial worries; comfort in knowing they will be well-taken care of in the process of recovery; as well as knowledge and access on cancer insights, health screening and prevention advice by medical experts. We hope that with AXA Cancer Care, Malaysians can stand up to cancer with confidence,” said Mr Loke.

AXA AFFIN Life Insurance Berhad is a joint-venture between AFFIN Holdings Berhad and AXA Group, a worldwide financial protection leader, which is headquartered in Paris.  AXA is the No.1 Global Insurance Brand for 7th consecutive year as ranked by Interbrand, placing it among the world’s Best Global Brands. For more information on the AXA Cancer Care, visit

AXA AFFIN Life Insurance Berhad
Incorporated in February 2006, AXA AFFIN Life Insurance Berhad (AXA AFFIN Life) is a joint venture company between AFFIN Holdings Berhad and AXA Group, a worldwide financial protection leader, which is headquartered in Paris. Leveraging on the AXA Group’s strength as a financial protection expert and AFFIN Holdings’ local knowledge and diversified network, AXA AFFIN Life is focused on helping individuals manage risk and achieve their financial goals. AXA AFFIN Life will strive to build close and lasting relationship with its customers, offering them care, support and advice with the highest standard of professional ethic.

About AXA Asia
AXA Asia is a market leading insurance player offering a differentiated composite proposition in Life and General Insurance with operational presence in Hong Kong, Singapore, Indonesia, China, India, Malaysia, the Philippines, and Thailand. AXA Asia is part of the AXA Group, headquartered in Paris and a worldwide leader in insurance and asset management with a presence in 59 countries. AXA Asia is committed to creating a sustainable, long-term business for our employees, customers and shareholders.

About AXA Group
The AXA Group is a worldwide leader in insurance and asset management, with 161,000 employees serving 103 million clients in 59 countries. In 2014, IFRS revenues amounted to Euro 92 billion and IFRS underlying earnings to Euro 5.1 billion. AXA had Euro 1,277 billion in assets under management as of December 31, 2014. The AXA ordinary share is listed on compartment A of Euronext Paris under the ticker symbol CS (ISN FR 0000120628 – Bloomberg: CS FP – Reuters: AXAF.PA). AXA’s American Depository Share is also quoted on the OTC QX platform under the ticker symbol AXAHY. The AXA Group is included in the main international SRI indexes, such as Dow Jones Sustainability Index (DJSI) and FTSE4GOOD. It is a founding member of the UN Environment Programme’s Finance Initiative (UNEP FI) Principles for Sustainable Insurance and a signatory of the UN Principles for Responsible Investment.

About National Cancer Society Malaysia
The National Cancer Society Malaysia (NCSM) is a registered, tax exempt charity body established in 1966. It is the first cancer NGO in the country and is the only NGO that provides medical care through its extensive range of cancer services and support to people affected by cancer.

Financed entirely by voluntary contributions from the public, NCSM supports patients and caregivers through their cancer journey via its four cancer centres - Resource & Wellness Centre, Cancer & Health Screening Clinic, Nuclear Medicine Centre and the Children’s Home of Hope.  NCSM also has a Quit Smoking Clinic.

Backed by its philosophy to “Educate, Care and Support”, NCSM aims to:
• Educate: To decrease the incidence of cancer in Malaysia by raising public awareness on    prevention, screening and early detection of cancer through education.
• Care: To raise accessibility of cancer services in Malaysia by providing advanced facilities in  screening and diagnosis of cancer.
• Support: To empower individuals and those affected with cancer to maintain the highest possible quality of life.

NCSM is managed by 42 staff and has 6 branches nationwide as well as an office in Melaka. It is also supported by volunteers.

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