KUALA LUMPUR: Prudential Assurance Malaysia Berhad (PAMB) is helping underserved communities build financial resilience through PRUKasih Aman, a new protection plan developed under its flagship PRUKasih corporate social responsibility (CSR) programme.
The PRUKasih programme was initiated in 2011 to provide temporary financial relief for low-income families facing unexpected loss of income due to illness, accident or death.
Approximately 34,000 individuals have benefited from this programme with a payout of RM18.5 million to date.
Under the new PRUKasih Aman protection plan, low-income families will receive better total coverage of up to RM18,000 that includes daily hospitalisation allowance, funeral expenses and death benefits.
In the event of death due to an accident, there will be an additional payout to beneficiaries.
The one-year premium for this protection plan is RM75.
Chief marketing and partnerships distribution officer of PAMB, Eric Wong, said: "We highly support the government's efforts to expand insurance protection for the B40 population.
"Our vision for PRUKasih Aman is to provide a safety net to the underserved communities who are financially vulnerable to income disruptions so that they can continue providing for their families in difficult times," he said.
Beneficiaries will be pleased to know that family members under PRUKasih Aman will also receive coverage, unlike the previous programme that only covered the family breadwinner.
Prudential will offer a RM50 premium discount voucher to existing PRUKasih members who move to the new protection plan.
Users can access the PRUKasih Aman plan by downloading Prudential's mobile app Pulse, which allows them to make payments, submit claims and more.
The PRUKasih CSR programme has also provided financial education and entrepreneurship training to the underserved community, which addressed short- and long-term financial challenges to improve financial literacy.
Wong said: "Prudential remains committed to bringing programmes that will help the community be more financially independent to improve their socioeconomic status.
"As the saying goes, 'If you teach a man to fish, you feed him for a lifetime', and that is what our CSR initiative is about — giving them an opportunity for a financially stable future so that they can get more out of life," he added.
In recognition of its visionary community programme, Prudential was given the 'Company of The Year (Insurance & Investments)' award and 'Long-Standing Excellence Award' at the Sustainability and CSR Malaysia Awards 2022; and 'Most Socially Responsible Life Insurance Company' award at the International Finance Award 2022.
Learn more about the PRUKasih Aman protection plan here.