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LIAM urges more operator participation to help B40
Last update: 27/06/2018

KUALA LUMPUR, June 27 (Bernama) -- The Life Insurance Association of Malaysia (LIAM) has urged more insurers and takaful operators to participate in the 'Perlindungan Tenang - Mampu & Mudah', a national initiative specially targeted at the bottom 40 per cent of households (B40).

The plan would†allow Malaysians to†protect themselves and their families against life's key risks with premiums from as little as†a few ringgit per month.

"We hope in the next few months, more companies will come on board to participate in the initiative which is aimed at reducing the protection gaps in the country," said LIAM in a statement, issued in conjunction with its†inaugural Raya Open House here, yesterday.

In line with an aspiration to insure 75 per cent of the population by 2020, LIAM, Persatuan Insurans Am Malaysia and Malaysian Takaful Association, together with Bank Negara Malaysia, had launched 10 affordable protection plans under Perlindungan Tenang in November last year.

"As we embark on our continued evolution towards reaching out to our Malaysian consumers, and with the strong support from all our stakeholders, we at LIAM together with other industry players will continue to pursue our aspiration in creating awareness and educating consumers on the importance of life protection and financial education," added LIAM.

Formed in 1974 as†trade association registered under the Societies Act 1966,†LIAM has 14 life insurance companies and two†life reinsurance companies as members.





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Source: Bank Negara Malaysia

Starting April the banks have imposed a 50 sen processing fee on top of the 15 sen stamp duty on each cheque. The fee also applies to those applying for a Bankerís Cheque, Bank Draft and Cashierís Order. Do you think this additional charge is justified?

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