The Employees Provident Fund (EPF) announced today that it allows members to use funds in their Account 2 to purchase life and critical illness insurance products, as well as takaful for their immediate family members.
Under the i-Lindung Phase 2 initiative, members interested in buying insurance and participating in takaful products offered by EPF-approved insurance and takaful companies for themselves or their immediate family members can do so through the i-Lindung platform within the EPF i-Account mobile application.
Since its launch in July 2022 until December 2023, more than 102,301 members have purchased a total of 118,166 policies and takaful products through the i-Lindung platform. This includes affordable life and critical illness insurance coverage.
Capitalising on this positive response, EPF introduced a significant enhancement, focusing on policy and certificate management, geared towards extended protection beyond one year, as reported by the New Straits Times. The upgraded platform offers features such as streamlined policy management and easy recurring payments for long-term protection.
