EPF members can sign up for the protection plans instantly by completing a few simple health-related questions and making premium contribution payments directly from their online KWSP account.
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Prudential Malaysia has been appointed by the Employees Provident Fund (KWSP or EPF) as one of the insurance and takaful operators to provide affordable and simple to understand protection plans to all EPF members under the i-Lindung initiative.
The initiative, launched by Finance Minister Datuk Seri Tengku Zafrul Abdul Aziz, is intended to provide affordable and accessible protection coverage to Malaysians.
According to Bank Negara Malaysia statistics, only 41% of Malaysians currently have at least one individual or group life insurance policy or family takaful certificate.
In addition, the Life Insurance Association of Malaysia (LIAM) further revealed that of those protected, over 90% do not have sufficient coverage to protect themselves and their families. Furthermore, only four per cent of households from the B40 income group had any form of life insurance or takaful coverage.
Prudential Assurance Malaysia Berhad CEO Lim Eng Seong said that the company is highly supportive of the EPF i-Lindung program.
We share a common purpose of helping Malaysians to achieve a better financial future. With the presence of protection plans, EPF members can safeguard their savings and retirement funds should the unfortunate happens.Prudential Assurance Malaysia Berhad CEO Lim Eng Seong
Prudential BSN Takaful Berhad CEO Wan Saifulrizal Wan Ismail explained that as an organisation that promotes ‘Takaful For All, For Life’ the company has made it its mission to help Malaysian families secure their futures through innovative solutions built on Islamic values.
By introducing these inclusive and budget-friendly plans under i-Lindung, we want to encourage more Malaysians to be financially protected, to ensure that they and their families live with peace of mind.Prudential BSN Takaful Berhad CEO Wan Saifulrizal Wan Ismail
The four plans introduced by Prudential Malaysia;
- PruBSN Lindung (Term Protection).
- PRUCare Life.
- PruBSN Cegah (Critical Illness Protection).
EPF members can sign up for the protection plans instantly by completing a few simple health-related questions and making premium contribution payments directly from their EPF online portal (i-Akaun) with just a one-time payment for an entire year of coverage up to RM100,000.
PRUGuard Life and PruBSN Lindung, on the other hand, are term insurance/takaful plans that offer lump-sum death and total and permanent disability benefits to ensure families are taken care of in the event of loss of life or loss of income caused by disability. Customers can choose a coverage amount that best suits their needs and budgets, from as low as RM10.40 for one year of coverage.
Upon signing up for their plan of choice, customers can easily view their certificate in just a few clicks via the PRUServices feature on the Pulse by Prudential app, which is available to all Prudential Malaysia customers.
Powered by AI technology, the app provides a wide variety of health and wealth management features and is available for free download on the App Store and Google Play Store. In addition, Prudential Malaysia customers can also submit their claims via PRUServices and keep track of up-to-date claim status.
In conjunction with the launch of i-Lindung, Prudential Malaysia has launched the MyRezeki campaign, whereby EPF members who have purchased or subscribed to Prudential Malaysia’s insurance or takaful plans by 30 September 2022 will stand a chance to win prizes worth over RM100,000.