KWSP officially launches i-Lindung scheme to buy insurance using EPF deposits.
Employees Provident Fund Board (KWSP) has officially launched the i-Lindung scheme. Through this scheme, members can use their savings in their EPF second accounts to purchase insurance.
The government launched i-Lindung with the aim of giving insurance coverage to the people, many of whom are currently uninsured.
The insurance and Islamic insurance companies participating in the scheme are FWD TAKAFUL, Prudential Assurance, Prudential BSN Takaful Bhd, Etiqa Life Insurance (Prudential Assurance), Prudential BSN Takaful Bhd, Etiqa Life Insurance and Etiqa Family Takaful Bhd.
The CPF Board expects 300,000 people to join the i-Lindung scheme in the first year, and members can get RM10,000 coverage for a minimum of RM30 per year from now on, with premiums deducted from their EPF second accounts.
