LIAM president Loh Guat Lan said “the Covid-19 pandemic has increased in the awareness among Malaysians on the importance of life insurance protection. The role of life insurance has become even more important as an essential financial tool to reduce uncertainties in life.”
PETALING JAYA: The life insurance industry recorded a 12.6% decline in total premiums to RM5.24bil from January to June compared with RM5.99bil a year ago due to a fall in investment-linked products as the movement control order (MCO) prevented face-to-face interaction by agents with potential clients.
The Life Insurance Association of Malaysia (LIAM) said in a statement yesterday that the decline was mainly due to the drop in investment-linked policies which contracted by 24.5% in terms of total premiums to RM1.72bil.
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