Malaysians grossly underinsured

Prepare for rainy days: Tan suggests potential life policy holders to insure as much as 10 times of their annual income.

Prudential Assurance Malaysia Bhd hopes its PRUlink million policy will help increase the penetration rate of life insurance in Malaysia.

“Currently, the combined life insurance penetration rate for Malaysia is 54% including conventional and takaful, which means only half of the population have some form of life insurance. Malaysians are grossly underinsured,” said Prudential chief marketing officer Tan Kay How.