L.A.T. Holdings Signs Agreement With Takaful IKHLAS Bereavement Programme
Bernama, 6 Sep 2012
KUALA LUMPUR, Sept 6 (Bernama) -- L.A.T Holdings Bhd today signed a collaboration agreement with Takaful Ikhlas to underwrite a bereavement programme for average income earners aimed at easing their financial burden during times of grief, says L.A.T. chief executive officer Lim Kim Leong.
Known as "Cycle of Love", the nationwide programme costs RM96 annually for non-Muslims, which would take care of their funeral expenses, including the cost of the casket, hearse, prayers and other paraphernalia.
Lim explained that the programme did not include the cost of burial plots or placement of ashes in columbariums.
"We estimate that about 23,000 people in Malaysia have no bereavement funds or savings and they are likely to be saddled with expenses of RM230 million collectively or RM10,000 per person for this purpose.
"When death falls upon a family that is ill-prepared for expenses and procedures for a funeral, many issues may occur, like having to borrow from friends, or ending up paying a lot of unnecessary expenses," he said.
When asked why he had started the programme, Lim said he had seen many people getting into financial difficulties after footing funeral expenses because people usually did not discuss or plan ahead for death arrangements as it was usually considered a taboo subject.
As such, he said L.A.T. wanted to help reduce their financial burden and should a person registered with the programme passed away, all a family member has to do is to call the company as it had worked out arrangements with almost all funeral parlours in the country.
L.A.T. also signed collaboration agreements with Yayasan Bakti Khidmat Masyarakat Malaysia (YBKMM), KL-SEL Welfare Society For Handicap Citizens and Persatuan Dewi Kuan Yin for the programme, which would be officially launched at a charity dinner at the Kuala Lumpur and Selangor Chinese Assembly Hall here on Sept 24.
Lim said L.A.T (www.latbhd.com) was also working on another programme under Khairat Kematian for Muslims to be launched next year.