Q: What is Sponsored Insurance?
A: Sponsored Insurance is an insurance coverage fully sponsored by DearTime – Charity Fund specifically for B1 and B2 group of Malaysia citizens who earns monthly household income up to RM 3,400. It is an initiative by DearTime to increase the insurance penetration rate amongst Malaysians. Sponsored Insurance is the first of its kind and it is an initiative to spread love and care by giving back to the community.
Q: How does the Sponsored Insurance sponsorship works?
A: Our products have a Thanksgiving feature that allows the policy owner to donate up to 10% of their insurance premiums to the DearTime - Charity Fund. We will promptly effect the Sponsored Insurance for the eligible applicant on a first-come-first-serve basis once the Charity Fund is sufficient to sponsor for insurance.
Q: Who is eligible for Sponsored Insurance?
A: B1 and B2 group of Malaysian citizens with monthly household income up to RM3,400 can opt to register for Sponsored Insurance sponsorship.
Q: How can I register to be sponsored for Sponsored Insurance?
A: First, you need to download DearTime app and register as an account user. Once registered and if your household monthly income is <= RM3,400, then you can apply for Sponsored Insurance. You need to provide your number of household members, each member’s identity, occupation, and proof of income for eligibility verification process.
Upon successful application, you shall be sponsored on a first-come-first-serve basis. If your application is rejected, you can opt to purchase DearTime Insurance on your own.
Q: How to check my Sponsored Insurance application status?
A: You can check the status of your application in our app. When your application is accepted, we will register you on the Sponsored Insurance waiting list. Once your Sponsored Insurance takes effect, we will notify you by email with a copy of the policy contract. You can also find more detailed information from our app.
Q: What benefit is offered under Sponsored Insurance?
A: All 5 DearTime Insurance products are available for Sponsored Insurance. For Death, Disability, Critical Illness and Accident products, you can choose your coverage amount up to the maximum limit stated in the table below. Medical coverage is only applicable to Government Hospital.
Group | Death | Disability | Critical Illness | Accident |
Child (age <=15) | 15,000 | 10,000 | 10,000 | Up to selected Death coverage amount |
Student (age >=16) | 20,000 | 15,000 | 15,000 | |
Housewife/Househusband | 20,000 | 15,000 | 15,000 | |
Retiree, Pensioner | 20,000 | 15,000 | 15,000 | |
Working Group | 25,000 | 25,000 | 25,000 |
Q: How long does my Sponsored Insurance coverage last?
A: Your Sponsored Insurance coverage lasts for 1 year and renewal is subject to your eligibility and the availability of Charity Fund.
Q: Will my Sponsored Insurance be renewed automatically every year?
A: Renewal is not automatic. Every year, we need to verify your eligibility again. You will be prompted to re-update your number of household members, each member’s identity, occupation and proof of income 30 days before each renewal date.
Q: What will happen to my coverage if DearTime Charity Fund is insufficient?
A: Your Sponsored Insurance will be discontinued and you will be placed back on the Sponsored Insurance waiting list if DearTime Charity Fund is insufficient upon renewal. Your coverage will resume when sufficient fund is available, subject to terms and conditions.
Q: Can I edit my coverage?
A: Yes, you can. However, you can only edit your coverage during renewals subject to the maximum limit.
Q: Can I cancel my coverage after successful sponsorship of Sponsored Insurance?
A: Yes, you can cancel your coverage within 15 days from your coverage start date and the premium paid will be refunded to DearTime - Charity Fund.