1Malaysia Micro Protection Plan Developed For Malaysians
KUALA LUMPUR, April 18 (Bernama) -- The 1Malaysia Micro Protection Plan (1MMPP) has been developed to enhance accessibility and affordability of insurance and takaful protection for Malaysians.
The General Insurance Association of Malaysia said the plan, developed by the insurance and takaful industry together with the support of Bank Negara, was open to small businesses.
It is also open to micro enterprises and individuals seeking accessible and affordable financial protection in managing unexpected events such as death, illnesses, accidents, fires and loss of property, it said in a statement.
The plan will provide 4 options -- life insurance, family takaful, general insurance and general takaful -- with the conventional and takaful product sharing common features, coverage, terms and conditions and premium/contribution.
With a starting monthly payment at less than RM20, Malaysians can avail themselves to insurance or takaful protection encompassing coverage for both life, family, general insurance and takaful.
The plan will be made available through selected banks and financial institutions which are currently collaborating with participating insurers and takaful operators to distribute the product.-- BERNAMA
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