Merchantrade, MCIS Life team up for life insurance plan

by MUHAMAD AMIR AIMAN / pic credit:

MERCHANTRADE Asia Sdn Bhd has entered into a partnership with MCIS Insurance Bhd (MCIS Life) to market its life insurance plan that participates in RM50 Perlindungan Tenang Voucher (PTV) programme.

The firms are also working with Celcom Axiata Bhd as one of its telecommunication partners to reach out to the underserved segment.

Merchantrade Insure Life plan can be redeemed using the RM50 PTV which enables eligible Malaysians aged 18 to 60 years old who are currently recipients of Bantuan Prihatin Rakyat (BPR) to benefit from the policy coverage with a sum insured of RM20,000 for a year.

Merchantrade Asia said the PTV is crucial as it empowers Malaysians that do not possess life insurance coverage to protect their family financially.

“8.4 million eligible BPR recipients will benefit from the PTV programme as the unique policy covers death due to any causes including Covid-19.

“The payout sum doubles to RM40,000 for specific illnesses such as dengue fever, Chikungunya fever, Malaria, Japanese Encephalitis, Avian influenza or the Zika virus,” it said.

Merchantrade Asia founder and MD Ramasamy K Veeran, along with MCIS Life CEO and MD Prasheem Seebran supported the government’s initiatives in improving the social safety net of those in the bottom 40% and lower-income community.

Celcom Axiata Bhd chief emerging business officer T Kugan said, the pandemic did not only affect the health but also the livelihoods of all Malaysians owing to the fact Celcom continues its pursuit in providing various affordable insurance coverage namely life, personal accident and snatch theft.

“It is crucial that everyone has the opportunity to be financially protected, providing them with peace of mind knowing that their family members are always safeguarded.

“We look forward to continuing our partnership with Merchantrade Insure and offer more simple, direct, affordable and accessible solutions to our customers as we are able to reach out to the underserved segment across Malaysia through our Celcom Life App,” he said in the same statement.

Merchantrade’s Insure Life, underwritten by MCIS Life, offers a simple sign-up process, no waiting period, no medical check-up required and comes with 24-hours worldwide protection, ensuring a highly affordable insurance plan with low barriers to entry that allows the underserved community better and equitable access to life insurance protection.