KUALA LUMPUR: Takaful lkhlas Bhd (Takaful IKHLAS), a wholly-owned subsidiary company of MNRB Holdings Bhd (MNRB) in collaboration with Agrobank have introduced Agro Mabrur-i as a product under Tenang Protection
Scheme launched by Bank Negara Malaysia (BNM) on Nov 24 in conjunction with the Financial Carnival in Kuching, Sarawak.
In a statement fromTakaful Ikhlas, the selection of Agro Mabrur-i as a product under the Tenang Protection Scheme by BNM is based on its product criteria namely affordable and easy to understand.
In addition, Agro Mabrur-i also provides protection card and clam payment within 24 hours for immediate death expenses.
Agro Mabrur-i is afamily takaful product underwritten by Takaful khlas and is offered to all Agrobank customers and the general public.
The affordable product offers benefits up to RM13.000 for death and total permanent disability due to natural cause and benefits up to RM26.000 for death and total permanent disability due to accident with an annual contribution as low as RM75 or equivalent to RM0.21 daily.
As for group contribution for societies and companies, the plan offered is as low as RM40 a year with a coverage value of RM5.000 and a minimum participation of 20 people.
"As one of the takaful operators in Malaysia, Takaful lkhlas welcomes the effort made by BNM to raise the awareness towards the importance of takaful protection to these groups," said Takaful lkhlas president and chief executive officer Datuk Abdul Latiff Abu Bakar in the statement.
Headded that with theavailability of Tenang Protection package that facilitates such as Agro Mabrur-I product in the market, it will provide alternatives to the the low and middle income groups including small companies to obtain takaful protection.
"In addition, the network of Agrobank branches nationwide including in the rural areas is the best channel to market the product to its target group," said Abdul Latiff who also attended the launch ceremony of Tenang Protection Scheme here (Kuching) recently.
Also speaking was Agrobank acting president and chief executive officer Masaat Awadz who supported the statement by Abdul Latiff.
"Agrobank feels honored when Agro Mabrur-i is elected to be the Tenang Protection product by BNM due to its really affordable price, which is as low as RM75 a year - which is suitable for the low income group.
"The product is chosen by Bank Negara Malaysia based on its three main criteria: affordable, easy to understand and provides convenient claim process," said Masaat.
She further said Agrobank and Takaful lkhlas are proudly supporting the initiative made by BNM inproducing affordable and efficient takaful product in helping the people of Malaysia.
"This is in line with Agrobank mission in empowering the underserved people in the rural areas," she further said.
Among the advantages of Agro Mabrur-iare: Attractive and affordable annual takaful contribution based on plans; The protection covers for death/ total permanent disability due to natural cause and accident; The protection amount is based on the chosen plan; Badal Haji benefit is RM3.500; Waqaf benefit is RM500; Immediate death expenses benefit is RM1.000; For non-Muslim customers, the Badal Haji and Waqaf benefits will be paid as an addition to immediate death expenses benefit; Immediate death expenses will be paid within 24 hours(working day) upon receiving the completed claim form.
Meanwhile, the introduction of Agro Mabrur-i as the Tenang Protection Scheme is a continuation of the collaboration as the Preferred Takaful Partner between Takaful lkhlas and Agrobank which officially started in Dec 2016.
Prior to that, Takaful lkhlas and Agrobank had launched Agro Nurani Product, which is a Takaful plan specifically designed for people with disabilities in Jan 2017.
Interested customers may contact Agrobank customer service line at 1300 88 2476,or visit the nearest Agrobank branch or Agrobank website at www.agrobank.com. my.