Merchantrade Partners MCIS Life to Launch Micro Insurance With Celcom
KUALA LUMPUR: Merchantrade Asia Sdn Bhd (Merchantrade) and MCIS Insurance Bhd (MCIS Life) have teamed up to offer Merchantrade Insure Life, a life insurance policy that qualifies for the RM50 Perlindungan Tenang Voucher (PTV) initiative.
The cooperation aims to reach out to the underserved group, with Celcom Axiata Bhd (Celcom) as one of the telecommunications partners.
The Merchantrade Insure Life plan can be redeemed using the RM50 PTV introduced in Budget 2021 thanks to this agreement.
“This redemption allows Malaysians aged 18 to 60 who are currently receiving Bantuan Prihatin Rakyat (BPR) to take advantage of Merchantrade’s Insure Life policy.”
According to reports, the PTV programme will benefit around 8.4 million BPR recipients.
The PTV is crucial because it allows Malaysians, particularly those without life insurance, to take steps to financially protect their families.
The reimbursement amount is quadrupled to RM40,000 in the event of specific illnesses such as dengue fever, chikungunya fever, malaria, Japanese Encephalitis, Avian influenza, or the Zika virus.
T Kugan, Celcom’s chief emerging business officer, said the company is committed to offering all Malaysians with inexpensive insurance coverages such as life, personal injury, and snatch theft.
“Through our Celcom Life App, we are able to reach out to the underserved section across Malaysia, thanks to Celcom’s largest 4G LTE network coverage.”
“We also hope to continue our cooperation with Merchantrade Insure and provide our consumers with more easy, direct, reasonable, and accessible alternatives,” Kugan said.
Merchantrade’s Insure Life, underwritten by MCIS Life, has a straightforward sign-up process, no waiting time, no medical exam required, and 24-hour worldwide protection, assuring an extremely inexpensive insurance plan with low obstacles to entry for the underprivileged community.