KUCHING: The Life Insurance Association of Malaysia (LIAM) and its member companies launched the i-MULA 50 Starter Pack in Sarawak in conjunction with the Karnival Celik Kewangan (KCK) here.
During the launching, a special minimum allocation of RM500,000 was allocated exclusively for Sarawak residents as part of the RM5 million i-MULA 50 Starter Pack Fund, available until June 30, 2025.
LIAM Management Committee member Datuk Koh Yaw Hui expressed the industry’s appreciation to the Sarawak government and Bank Negara Malaysia for their support for the i-MULA 50 programme, which aims to provide first-time insurance buyers with access to life insurance protection at subsidised premiums.
“As we launch the i-MULA 50 Starter Pack here in Sarawak, we look forward to the positive impact this programme will bring to families and the communities.
“We are proud to support Sarawak’s journey towards building a more resilient, inclusive and sustainable society. Together, let us empower every Malaysian to achieve financial resilience and peace of mind,” he said.
He said this during the launching ceremony held at Vivacity Megamall here Saturday.
He explained that the launch of the i-MULA 50 Starter Pack Insurance Fund, emphasises LIAM’s commitment to addressing the needs of the community particularly the underserved segment.
“Since the launch of the RM5 Million i-MULA Starter Pack in August 2024, we have received very encouraging response from the public. To date, approximately 13,000 policies have been issued, valued at RM640,000, leaving around RM4.3 million available in the fund.
“We encourage all Sarawakians to take advantage of the RM500,000 fund allocated exclusively for Sarawak, as well as the remaining RM4.3 million in the overall fund,” he said.
Deputy Premier Datuk Amar Sim Kui Hian commended LIAM and its member companies for introducing the i-MULA 50 Starter Pack Insurance Fund, which marks an important step towards expanding access to affordable life insurance, especially for Sarawak’s underserved communities.
This, he added, reflects a strong commitment to supporting the financial resilience of all Malaysians, including the Sarawak community.
“Sarawak is on a transformative journey, working to build a state where economic progress aligns with social well-being.
“This RM500,000 contribution is a strategic initiative to promote financial inclusion, encourage our residents to consider affordable protection plans, and supports insurance education within our communities.
“Therefore, I encourage all Sarawakians to seize this opportunity to sign up for the i-MULA 50 protection plan to protect themselves and their loved ones against unforeseen circumstances,” he said.
This special allocation was presented to Dr Sim, while witnessed by BNM Financial Inclusion Department Director Nor Rafidz Nazri.
The i-MULA 50 is a RM5 million Starter Pack Insurance Fund established by LIAM and its member companies in conjunction with LIAM 50th Anniversary.
This fund aims to benefit 100,000 policyholders, providing RM50 subsidy on 33 affordable protection plans, targeting first time buyers, youth and young families.
Featuring affordable insurance options and customised products from the Perlindungan Tenang initiative, these products provide basic life insurance coverage at subsidised premiums.
The annual premiums range from RM75 to RM600, with policyholders contributing a minimum of RM25 in annual premium to receive a one-time subsidy.
