Under the Member Protection Plan, the Employees Provident Fund (EPF) has made it possible for contributors to buy insurance and takaful goods utilizing Account 2.
The platform established by the EPF, according to Finance Minister Tengku Datuk Seri Zafrul Tengku Abdul Aziz, may assist members in seeking protection from unforeseen and uncontrollable circumstances.
He claims that the government is committed to boosting social security in order to give Malaysian families access to at least a minimal degree of safety net and social security.
“This is a crucial first step in safeguarding Malaysians and their families from the possibility of passing away, being totally disabled, and developing chronic illnesses.
“Most crucially, this protection can be secured with a premium contribution of only a few ringgit a month, through insurance firms and takaful operators given on the EPF platform,” he said. “These plans can replace additional income or savings in the event of an accident.
At a ceremony in the capital on Tuesday, he said this to announce the launch of i-Lindung.
Tengku Zafrul continued by expressing his optimism that organizations like the EPF might maintain their success in offering social safety to the populace. He claimed that even general public knowledge of long-term financing needs to be improved.
Nearly half of Malaysians, according to a National Health and Morbidity Survey (NHMS) survey, do not have supplementary reserves to cover medical costs. As a result of our progress toward becoming an older nation as early as 2030, he said, Malaysians will have to deal with this dilemma.
He continued by saying that the government and taxpayers will eventually have to shoulder a financial burden if the elderly are unable to meet their fundamental demands, particularly when it comes to paying for medical expenses.
Source: https://www.edisi9.com.my/2022/07/pencarum-kwsp-boleh-guna-akaun-2-untuk-beli-insurans-takaful/
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