image source: https://www.bernama.com/en/general/news.php?id=2200481

The Ministry of Domestic Trade and Cost of Living (KPDN), Datuk Seri Salahuddin Bin Ayub, has announced the Rahmah initiative, offering affordable insurance and takaful packages in collaboration with Allianz General Insurance Bhd, Etiqa General Insurance Bhd, and Etiqa General Takaful Bhd. These packages aim to provide accessible coverage and financial protection to a wide range of Malaysians.

Under the Rahmah Insurance Package, individuals will receive personal accident coverage up to RM50,000, along with benefits such as reimbursement of medical expenses at government hospitals and emergency relief payments during flood evacuations, with amounts depending on the chosen plan. The annual premium rates for the insurance package are RM53.50 and RM79.50, including sales tax, and the additional benefits are provided at no extra cost.

Allianz is also offering a MotorcyclePlus additional coverage, which includes benefits of up to RM10,000 for both the rider and passenger, as well as a hospital allowance based on the registered motorcycle engine capacity. Customers who opt for the MotorcyclePlus Comprehensive Policy will enjoy additional benefits such as special perils coverage, roadside assistance up to 50km, and flood relief benefits up to RM1,000.

Etiqa, on the other hand, provides its own Rahmah Insurance Package and Rahmah Takaful Package. The packages offer compensation for disability or death due to accidents or illnesses, with coverage of up to RM80,000. The monthly payment for the packages is RM5, or RM36 annually, inclusive of sales tax. These packages are available to Malaysians aged between 16 and 65 years and can be renewed until the policyholder reaches 70 years of age.

The KPDN hopes the Rahmah initiative will encourage more Malaysians, especially those in the B40 group, to obtain essential insurance or takaful coverage. By providing affordable options and emphasizing the importance of financial protection, the government aims to support the well-being and security of individuals and their properties.

Since its introduction in January, the Payung Rahmah initiative has gained significant attention and expanded to include various sectors, such as fast food brands, eyewear, automotive services, and hypermarket discounts. This demonstrates the growing interest and positive impact of the initiative in alleviating financial burdens for low-income earners.

Read further here: https://www.malaymail.com/news/malaysia/2023/06/22/ministry-announces-rahmah-insurance-takaful-packages-from-allianz-and-etiqa/75730