5.9 million BR1M recipients to come under government insurance scheme

On November 23, 2013, in In The News

The Government will introduce an insurance policy to cover more than 5.9 million Bantuan Rakyat 1Malaysia (BR1M) recipients nationwide from January next year.

Deputy Finance Minister Datuk Ahmad Maslan said the BR1M insurance policy would follow the Islamic scheme insurance and would be the biggest such policy taken up in the world.

“This insurance will be provided to the group regardless of race or religion,” he said, adding that the Government is currently in talks with a consortium of insurance companies.

He said there were more than 7.9 million Malaysians who received the financial aid from the Government.

He said the recipients would not have to pay for the insurance as the RM50 from the BR1M aid would cover the payment.

“The recipients will still get the full amount from the Government and the policy covers those earning less than RM4,000 per month or the breadwinners in a family.

“Bachelors who received the BR1M aid will not be covered by this policy,” he said when met after launching the Universiti Teknologi Malaysia entrepreneurship carnival at Dataran Datuk Jalok in Benut here yesterday.

Ahmad said if a BR1M recipient dies or was involved in an incident causing the person to be unable to work, then their families will receive not more than RM30,000.

- The Star -

 

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