Over RM2.2 Mln In Subsidies Still Available Under i-MULA 50 Insurance Initiative, Says LIAM
KUALA LUMPUR, July 7 (Bernama) -- More than RM2.2 million in subsidies remain available under the i-MULA 50 Starter Pack programme for first-time insurance buyers, according to the Life Insurance Association of Malaysia (LIAM).
In a statement today, LIAM urged young Malaysians and first-time insurance buyers to act quickly to take advantage of the i-MULA 50 Starter Pack.
It said applications for the subsidy are open until Dec 31, 2025, or until the fund is fully utilised.
“To date, over 56,000 Malaysians have successfully secured insurance coverage through the programme, tapping into RM2.8 million of the RM5 million fund set aside to promote financial inclusion and risk protection for underserved segments, especially the youth,” it said.
The insurance association added that the i-MULA 50 Starter Pack, launched in August last year in conjunction with its 50th anniversary, offers a RM50 subsidy for first-time buyers to purchase basic life insurance policies.
“The programme covers 33 affordable insurance protection plans, offering essential benefits such as death, total and permanent disability (TPD), critical illness, medical expenses, and hospital income,” it said.
LIAM said that annual premiums for these plans range between RM75 and RM600, with buyers required to pay a minimum of RM25 to qualify for the subsidy.
Its chief executive officer, Mark O’Dell, said the initiative is a good starting point for young Malaysians to begin protecting their future.
“With RM2.2 million in subsidies still available, we strongly encourage eligible individuals to take advantage of this initiative before the Dec 31 deadline,” he said, adding that the programme is aimed at helping Malaysians understand the importance of insurance in providing financial security.
More information on the i-MULA 50 Starter Pack and the list of participating insurance plans is available at www.liam.org.my.
-- BERNAMA