Affordable Family Takaful plan provides lower-income community access to protection

KUALA LUMPUR, Oct 6 (Bernama) -- FWD Takaful Berhad (“FWD Takaful”) recently launched FWD Kasih, an online micro-Takaful plan dedicated to support Malaysia’s lower-income group, with a monthly contribution from as low as RM2.03¹ a month for women and RM2.54² for men.

Salim Majid Zain, FWD Takaful’s Chief Executive Officer said, “FWD Kasih aims to empower the lower-income communities by making Takaful accessible, affordable and convenient. We’re happy to be able to play our part in the community and help protect these families while lessening their financial burden due to unforeseen events. With FWD Kasih, we continue to bring our vision to life by changing the way people feel about Takaful.”

FWD Kasih provides cover from the age of 19 until 54 years old for those with a monthly household income of up to RM5,000 per month, paying the full sum covered upon death due to natural causes and Total and Permanent Disability (TPD), and 200% of the sum covered on death due to accidental causes.

Wan Ahmad Najib Wan Ahmad Lotfi, FWD Takaful’s Chief Strategy & Digital Distribution Officer, added, “More often than not, lower-income families struggle to provide for the household when the main breadwinner can no longer support them due to death or disability. Financial inclusivity is important to us, and at FWD Takaful we strongly believe that income should not be a barrier to protection. We’re committed towards providing access of takaful coverage to the most vulnerable group of people in our community, hence we created FWD Kasih so they can receive valuable benefits at an affordable price”.

FWD Kasih offers four (4) plan options to choose from with a sum covered of RM10,000, RM20,000, RM30,000 or RM40,000. All eligible Malaysians can sign up for FWD Kasih directly online at fwd.com.my/direct/kasih.

FWD Takaful collaborated with the Research and Innovative Management Centre of Universiti Utara Malaysia last year, to fund RM250,000 for industrial research to examine a suitable Takaful plan and distribution channel for the B40 community. FWD Kasih was developed based on B40 respondents’ preference and understanding of takaful specific needs from different demographic backgrounds and product structuring.

For more information on FWD Takaful, visit fwd.com.my. Alternatively, call 1300 13 7988 or email contact.my@fwd.com.

About FWD Takaful Berhad

FWD Takaful Berhad (FWD Takaful) is a Takaful provider in Malaysia that offers family Takaful services. FWD Takaful is licensed under the Islamic Financial Services Act 2013 and is regulated by Bank Negara Malaysia.

It is a Takaful business unit of FWD Group (FWD) – the insurance business of investment group, Pacific Century Group – which spans Hong Kong & Macau, Thailand, Indonesia, the Philippines, Singapore, Vietnam, Japan and Malaysia; offering life and medical insurance, general insurance, family Takaful and employee benefits across a number of its markets.

Since 2013, FWD has focused on creating fresh customer experiences, with easy-to-understand products, supported by digital technology. Through this customer-led approach, FWD will achieve its vision to become a leading pan-Asian insurer that changes the way people feel about insurance.

For more information, please visit fwd.com.my.

¹ Based on assumptions of Female, age next birthday 19 and RM10,000 sum covered
² Based on assumptions of Male, age next birthday 19 and RM10,000 sum covered

SOURCE: FWD Takaful Berhad

FOR MORE INFORMATION, PLEASE CONTACT:
Name: Arnee Ismail
Brand, PR & Communications, Marketing
Tel: (60) 3 2771 7776 / (60) 19 663 3390
Email: arnee.ismail@fwd.com

Name: Aslinda Aminuddin
PR & Communications, Marketing
Tel: (60) 3 2771 7784 / (60) 12 294 5805
Email: aslinda.aminuddin@fwd.com

--BERNAMA