Latest news with #LIAM
Barnama
3 days ago
- Business
- Barnama
i-MULA 50 Starter Pack: RM2.2 Million In Subsidies Still Available For First-time Insurance Buyers - Apply By 31 December 2025
KUALA LUMPUR, July 7 (Bernama) -- The Life Insurance Association of Malaysia (LIAM) is calling on young Malaysians and first-time insurance buyers to act fast and benefit from the i-MULA 50 Starter Pack, as RM2.2 million in funding remains available under the nationwide subsidy programme. Applications are open until 31 December 2025, or earlier, if 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.
New Straits Times
3 days ago
- Business
- New Straits Times
LIAM urges youth to seize RM2.2mil in subsidised insurance starter packs
KUALA LUMPUR: Young Malaysians and first-time insurance buyers are urged to take advantage of the i-MULA 50 Starter Pack, with RM2.2 million in subsidies still available through the nationwide programme. The i-MULA 50 initiative is part of the Life Insurance Association of Malaysia's (LIAM) continued efforts to enhance access to financial protection and raise public awareness about the importance of having insurance coverage. "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," LIAM said. The association said applications will remain open until Dec 31, 2025, or until the allocated funds are fully exhausted, whichever comes first. LIAM chief executive officer Mark O'Dell urged eligible individuals to seize the opportunity and apply for the initiative while RM2.2 million in subsidies are still available, ahead of the deadline. "This is an excellent opportunity for young Malaysians to take their first step towards protecting their future. It is not about buying insurance – it is about starting a lifelong journey toward financial security and peace of mind," he added. Launched on Aug 28, 2024, the i-MULA 50 Starter Pack offers a RM50 subsidy to first-time insurance buyers to help them purchase basic life insurance policies. Supported by contributions from LIAM's member companies, the programme is designed to improve the accessibility, affordability, and relevance of insurance, particularly for younger Malaysians and low-income groups. The initiative features 33 affordable insurance protection plans that provide key benefits such as coverage for death, total and permanent disability (TPD), critical illness, medical costs, and hospital income. Annual premiums for these plans range from RM75 to RM600, with policyholders required to pay at least RM25 to receive the RM50 subsidy. The programme also aims to build awareness and appreciation of the importance of insurance coverage.
Barnama
15-05-2025
- Business
- Barnama
i – MULA 50 Starter Pack: Liam Urges Young Malaysians To Act Fast - RM2.4 Million In Funds Still Available
KUALA LUMPUR, May 15 (Bernama) -- The Life Insurance Association of Malaysia (LIAM) is urging young Malaysians and first-time insurance buyers to seize the opportunity to benefit from the i-MULA 50 Starter Pack while funds are still available. With over 53,000 policies already issued under the RM5 million fund, amounting to RM2.6 million in subsidies, only RM2.4 million remains for eligible applicants nationwide. Aimed at promoting financial inclusion and risk protection among youth, the i-MULA 50 Starter Pack offers a subsidy of RM50 for the purchase of a basic life insurance coverage to youth and young families particularly those purchasing insurance for the first time. Launched on 28 August 2024 in conjunction with LIAM's 50th Anniversary, the initiative was designed to make life insurance more accessible and affordable for 100,000 eligible Malaysians. This RM5 million fund, established by LIAM member companies, supports first-time buyers in purchasing life insurance protection through 33 affordable protection plans, covering benefits such as death, total and permanent disability (TPD), critical illness, medical expenses, and hospital income.
