More than RM2.2 million in subsidies are still available under the i-MULA 50 Starter Pack, a programme introduced to support first-time life insurance buyers in Malaysia. This initiative was launched in August 2023 by the Life Insurance Association of Malaysia (LIAM) in conjunction with its 50th anniversary. 

If you’ve never bought life insurance before, then this is good news for you. This is a simple way to get started, and it comes with free money – RM50 to be exact. Applications are open until December 31, 2025, or until the allocated fund is fully used.

LIAM Urges Young Malaysians to Apply Soon

In a recent statement, LIAM encouraged eligible Malaysians to act quickly to secure the subsidy. The association highlighted that over 56,000 people have already benefited from the programme, using RM2.8 million out of the total RM5 million fund.

LIAM emphasised that the remaining RM2.2 million offers an important opportunity for those who have not yet purchased insurance to get started on their financial protection journey.

About the i-MULA 50 Starter Pack

The i-MULA 50 Starter Pack provides a RM50 subsidy to first-time buyers of basic life insurance policies. This initiative aims to promote financial inclusion and help underserved communities, especially young people, access essential insurance coverage.

Coverage and Benefits

Under the i-MULA 50 Starter Pack, participants can choose from 33 affordable insurance protection plans. These plans offer important benefits, including coverage for death, total and permanent disability, critical illnesses, medical expenses, and hospital income.

Annual premiums for these plans range from RM75 to RM600. To qualify for the RM50 subsidy, buyers need to contribute at least RM25 of their own funds towards the insurance premium.

Building Financial Security for Young Malaysians

LIAM’s Chief Executive Officer, Mark O’Dell, described the i-MULA 50 Starter Pack as an excellent way for young Malaysians to begin safeguarding their future. He stressed that insurance plays a key role in providing financial security during unexpected events.

“With RM2.2 million in subsidies still available, we strongly encourage eligible individuals to take advantage of this initiative before the December 31 deadline,” he said.

For more information, visit the official LIAM website or contact any participating insurer.

• TAGS:
• i-MULA 50 Starter Pack
• Insurance
• LIAM
• Life Insurance Association of Malaysia
• Mark O'Dell