KUALA LUMPUR: Merchantrade Asia Sdn Bhd (Merchantrade) has partnered with MCIS Insurance Bhd (MCIS Life) to promote Merchantrade Insure Life, a life insurance policy that is eligible for the RM50 Perlindungan Tenang Voucher (PTV) scheme.
The partnership, along with Celcom Axiata Bhd (Celcom) as one of the telecommunications partners, is aimed to reach out to the underserved segment.
Through this partnership, the Merchantrade Insure Life plan can be redeemed using the RM50 PTV as announced in Budget 2021.
“This redemption enables eligible Malaysians aged between 18 and 60 years old who are currently recipients of Bantuan Prihatin Rakyat (BPR), to enjoy Merchantrade’s Insure Life policy coverage with a sum insured of RM20,000 for one year,” it said.
It was reported that about 8.4 million eligible BPR recipients will benefit from the PTV programme.
The PTV is significant as it empowers Malaysians especially those who still do not have life insurance coverage to take measures to financially protect their family members.
This policy covers death from any cause, including Covid-19, and the payout amount is doubled to RM40,000 in the event of particular illnesses such as dengue fever, chikungunya fever, malaria, Japanese Encephalitis, Avian influenza, or the Zika virus.
Celcom chief emerging business officer T Kugan said the company continues to strive in providing various affordable insurance coverages such as life, personal accident and snatch theft to all Malaysians.
“With Celcom’s widest 4G LTE network coverage, we are also able to reach out to the underserved segment across Malaysia through our Celcom Life App.
“We also look forward to continuing our partnership with Merchantrade Insure and offer more simple, direct, affordable and accessible solutions to our customers,” Kugan said.
Merchantrade’s Insure Life, underwritten by MCIS Life, offers a simple sign-up process, no waiting period, no medical check-up required and comes with 24-hours worldwide protection, ensuring a highly affordable insurance plan with low barriers to entry that allows the underserved community better and equitable access to life insurance protection.
Source: New Straits Times
