KUALA LUMPUR: The Employees Provident Fund (EPF) has launched i-Lindung platform under the members protection plan to facilitate the purchase of insurance and takaful products from Account 2.
EPF chairman Tan Sri Ahmad Badri Mohd Zahir said with a premium as low as RM30 per annum, the total coverage offered for i-Lindung was RM10,000.
EPF is also targeting 300,000 members over one year to subscribe to the protection plan which can be made through the i-Lindung platform in the EPF's i-Akaun (Members) portal.
"The i-Lindung facility is especially beneficial for EPF members where the EPF has worked together with the insurance companies and takaful operators to offer the most affordable rate to our members," he told reporters at the launch here today.
Finance Minister Tengku Datuk Seri Zafrul Abdul Aziz said the registration of new EPF members had increased 57 per cent to 146,000 members in the first quarter of 2022.
Tengku Zafrul said this was in line with EPF's efforts to embark on a long-term strategy to expand the social protection coverage of Malaysians in an effort to strengthen the government-linked companies (GLC) support ecosystem.
On the i-Lindung platform, Tengku Zafrul said this could help EPF members get protection in the face of unforeseen and beyond control situations that could happen to anyone at any time.
"This is an important starting point to protect Malaysians and their families from the risk of death, total disability and chronic diseases," he said.
The i-Lindung self-service platform, which can be accessed at any time of the day, allows members to obtain information on the available products and prices, and get a quick quotation before purchasing the preferred product anytime, anywhere.
A single view of the policy/certificate purchased will also be provided, allowing members to refer to it instantly and securely.
For added value, the insurance companies and takaful operators in the i-Lindung platform are able to provide additional coverage and customise the price of their products according to members' affordability. No medical check-up is required.
The participating insurance companies and takaful operators are FWD Takaful Bhd, Prudential Assurance Malaysia Bhd, Prudential BSN Takaful Bhd, Etiqa Life Insurance Bhd, and Etiqa Family Takaful Bhd.
Members below age 55 with sufficient balance in Account 2, Malaysian and are registered i-Akaun users, are eligible to buy the products under i-Lindung.
Those above age 55 can also buy products under i-Lindung provided they are within the eligible entry age of the related products and maintain a minimum RM100 in their Akaun 55 or Akaun Emas.