EPF Launches i-Lindung, An Insurance Protection Plan Under Account 2

The Employees Provident Fund has launched the i-Lindung platform under the Members Protection Plan that will allow members to purchase insurance and takaful products at an affordable premium from their Account 2.

Members who are keen to purchase insurance and participate in takaful products offered by the pension agency’s approved insurance companies and takaful operators can do so via the i-Lindung platform within the EPF i-Akaun portal. Currently the participating parties are FWD Takaful Berhad, Prudential Assurance Malaysia Berhad, Prudential BSN Takaful Berhad, Etiqa Life Insurance Berhad, and Etiqa Family Takaful Berhad.

The i-Lindung self-service platform offers information on the available products and prices, and members can also get a quick quotation before purchasing the preferred product. A single view of the policy/certificate purchased will also be provided, allowing members to refer to it instantly and securely.

For added value, the insurance companies and takaful operators in the i-Lindung platform are able to provide additional coverage and customise the price of their products according to members’ affordability. No medical check-up is required.

Minister of Finance Tengku Datuk Seri Utama Zafrul Tengku Abdul Aziz in launching the EPF i-Lindung today said, “Through the GLC Transformation Programme implemented by the Government to drive the recovery and rebuilding of the post-pandemic economy through the ecosystem of Government Linked Companies (GLCs) and Government Linked Investment Companies (GLICs), one of the most important aspects is strengthening social protection, and this responsibility has been given to the EPF.

“So far, this strategy has materialised, with new member registrations increased 57% to 146,000 members in the first quarter of 2022, while voluntary contributors accumulated under the i-Saraan programme jumped 77% to 599,000 people.”

EPF Chairman Tan Sri Ahmad Badri Mohd Zahir, in his opening address, said the Members Protection Plan is another milestone for the EPF as it provides an avenue of social protection and financial security to its members should anything unfortunate happen.

“Protection through insurance and takaful is one of the key components of financial wellbeing which we highly encourage our members to obtain in order to be protected against financial uncertainties. The i-Lindung facility is especially beneficial for EPF members where the EPF has worked together with the insurance companies and takaful operators to offer the most affordable rate to our members,” Tan Sri Ahmad Badri added.

Members below age 55 with sufficient balance in Account 2, Malaysian and are registered i-Akaun users, are eligible to purchase the products under i-Lindung. Those above age 55 can also purchase products under i-Lindung provided they are within the eligible entry age of the related products and maintain a minimum RM100 in their Akaun 55 or Akaun Emas.

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