Monday 07/07/2025

^{LIAM CEO, Mr Mark O'Dell}


Over 56,000 Malaysians have received coverage through the i-MULA 50 initiative as of 1 July 2025

KUALA LUMPUR, July 7 (Bernama) -- The Life Insurance Association of Malaysia (LIAM) is calling on young Malaysians and first-time insurance buyers to act fast and benefit from the i-MULA 50 Starter Pack, as RM2.2 million in funding remains available under the nationwide subsidy programme. Applications are open until 31 December 2025, or earlier, if the fund is fully utilised.

To date, over 56,000 Malaysians have successfully secured insurance coverage through the programme, tapping into RM2.8 million of the RM5 million fund set aside to promote financial inclusion and risk protection for underserved segments, especially the youth.

Launched on 28 August 2024 in celebration of LIAM’s 50th Anniversary, the i-MULA 50 Starter Pack provides a RM50 subsidy for first time insurance buyers to purchase basic life insurance policies. Backed by contributions from LIAM’s member companies, the initiative aims to make insurance more accessible, affordable, and relevant to everyday Malaysians – especially the younger generation and low-income households. The programme covers 33 affordable insurance protection plans, offering essential benefits such as death, total and permanent disability (TPD), critical illness, medical expenses, and hospital income.

Annual premiums for these plans range between RM75 and RM600, with policyholders required to contribute a minimum of RM25 to qualify for the RM50 subsidy. This initiative aimed to foster appreciation and understanding of the value of insurance coverage.

“This is an excellent opportunity for young Malaysians to take their first step toward protecting their future,” said Mark O’Dell, Chief Executive Officer of LIAM.

“With RM2.2 million in subsidies still available, we strongly encourage eligible individuals to take advantage of this initiative before the 31 December deadline. It’s not about buying insurance – it is about starting a lifelong journey toward financial security and peace of mind,” he added.

The i-MULA 50 initiative is part of LIAM’s ongoing commitment to empower Malaysians with greater access to financial protection and to foster greater public awareness of the importance of insurance coverage.

For more information on the i-MULA 50 Starter Pack, and the list of participating plans, please visit www.liam.org.my or click here or check out this video.

About LIAM

Formed in 1974, the Life Insurance Association of Malaysia (LIAM) is a trade association registered under the Societies Act 1966. LIAM has a total of 16 members, of which 14 are life insurance companies and 2 life reinsurance companies. LIAM’s objectives are to promote a progressive life insurance industry; to enhance public understanding and appreciation for life insurance; to upgrade the image and professionalism of the life insurance industry and to support the regulatory authorities in developing a strong industry.

SOURCE: Life Insurance Association of Malaysia (LIAM)

FOR MORE INFORMATION, PLEASE CONTACT:
Name: Puan Norizan Hassan
Tel: 603-2691 6168 / 6628 / 8068
Email: liaminfo@liam.org.my 
Website: www.liam.org.my
Facebook: LIAM – Life Insurance Association of Malaysia
Instagram: @liamalaysia  

--BERNAMA