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RM16.8 million in insurance claims paid out to MH370 families – Bernama

RM16.8 million in insurance claims paid out to MH370 families – Bernama

Payments totalling RM16.8 million in life insurance claims were settled to the next-of-kin of passengers and crew members of the Malaysia Airlines flight MH370.

In a statement today, Life Insurance Association of Malaysia (LIAM) said 185 policies were issued by 14 life insurance companies in Malaysia which were settled from March 2014 to date.

"Life insurers have treated the accident as an extraordinary event and have waived all proof of death as early as March 2014 to process the claim payment.

"For life policies, the amount payable is based on the sum insured," it said, expressing its deepest sympathies to the family members and next-of-kin of those on board MH370.

"We also praise the government for their continuous efforts and commitment with their foreign counterparts namely China, Australia and others in the search, rescue and investigation of MH370 to bring closure to this unfortunate tragedy," it added.

Life insurers involved were AIA Bhd, Allianz Life Insurance Malaysia Bhd, AmLife Insurance Bhd, AXA AFFIN Life Insurance Bhd, Etiqa Insurance Bhd, Gibraltar BSN Life Bhd, Great Eastern Life Assurance (M) Bhd, Hong Leong Assurance Bhd, Manulife Insurance Bhd, MCIS Insurance Bhd, Prudential Assurance Malaysia Bhd, Sun Life Malaysia Assurance Bhd, Tokio Marine Life Insurance Malaysia Bhd and Zurich Insurance Malaysia Bhd. – Bernama, January 30, 2015.