Rahmah Insurance & Rahmah Takaful

Government newly-announced RAHMAH Insurance and RAHMAH Takaful packages can be considered as a form of ‘free’ national insurance provided by the Unity Government with its collaboration with the private sector.

Rahmah Insurance / Takaful initiative (government in collaboration with the private sector allows Malaysians, especially the B40 group, to subscribe to insurance coverage or personal accident takaful coverage for as low as RM5 a month or RM36 yearly, is indeed a financial and socio-economic benefit to the rakyat.

The B40 and lower M40 as well as the self-employed and independent contractors such as the gig delivery riders will benefit from this initiative as many wouldn’t be able to enjoy health insurance coverage due to lack of financial resources or aren’t covered by their employer.

Country’s current insurance and takaful penetration rate of 56.1 per cent compared to 100 per cent in developed countries was a worryingly unsatisfactory rate.

Both insurance scheme are provided by Allianz General Insurance Bhd, Etiqa General Insurance Bhd, and Etiqa General Takaful Bhd.