Anwar urges Bank Negara to help insurance policyholders
CORONAVIRUS | PKR president Anwar Ibrahim has urged Bank Negara to step in and help insurance policyholders who may have trouble continuing to pay insurance premiums due to the Covid-19 outbreak.
He said some policyholders may fail to pay through no fault of their own, but because they have suddenly lost their jobs or face other financial problems amid the pandemic...
CORONAVIRUS | PKR president Anwar Ibrahim has urged Bank Negara to step in and help insurance policyholders who may have trouble continuing to pay insurance premiums due to the Covid-19 outbreak.
He said some policyholders may fail to pay through no fault of their own, but because they have suddenly lost their jobs or face other financial problems amid the pandemic.
“Bank Negara should review this and find ways to reduce the burden on contributors, and not only allow insurance companies to profit,” Anwar (photo) said during a broadcast via Facebook Live today.
Earlier, the National Association of Malaysian Life Insurance and Family Takaful Advisors (Namlifa) had urged the government to help protect insurance policyholders and agents.
It said it had made 12 recommendations to Bank Negara based on a survey it had conducted.
Among others, the association recommended a no-lapse guarantee for investment-linked policies for six months as long as premiums are paid, and to reduce management and policy fees.
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