Employees' Provident Fund (EPF) contributors can now use funds from Account 2 to buy insurance for themselves and immediate family members.
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NewsTranscript
00:00 Employees' Provident Fund on Monday announced that its contributors can now use funds from
00:08 their Account 2 to buy insurance for themselves and immediate family members.
00:13 EPF said the insurance packages include life insurance, critical illness insurance and
00:18 Takaful products under the Eilindung Phase 2 scheme.
00:22 EPF said the members can buy insurance from companies approved by EPF and Takaful operators
00:27 via the platform within the EPF iAccount app.
00:31 EPF said from July 2022 to December 2023, more than 102,301 members had bought a total of 118,166
00:42 policies and Takaful products through the Eilindung platform.
00:46 EPF said in view of the encouraging response, it had introduced upgrades focusing on policy
00:51 and certificate management geared towards extended coverage exceeding one year.
00:56 Thank you.
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