KUALA LUMPUR: The Employees Provident Fund (EPF) does not receive any commission from insurance companies that offer i-Lindung packages, says the Deputy Finance Minister Lim Hui Ying.
She was responding to Datuk Mas Ermieyati Samsudin (PN-Masjid Tanah) who asked if EPF receives commission from insurance companies when insurance packages are bought.
Meanwhile, Lim also said that the government will consider improved medical insurance plans through EPF.
"The government is always concerned about current issues faced by the M40 group, including the increasing cost of medical insurance with age.
"We welcome the proposal and are committed to reviewing it in depth," she said in response to a supplementary question from Chiew Choon Man (PH-Miri) who proposed a medical insurance scheme by EPF that is affordable for the M40 group, regardless of age.
She said that a comparative study on this matter can be carried out with other countries that have implemented such a programme, if there are any.
Responding to Chiew's original question, Lim said that 144,589 members have withdrawn from Akaun Sejahtera (formerly Account 2) to purchase life insurance and critical illness insurance under the i-Lindung.
"The total withdrawal involved is as much as RM44.2mil since it was introduced in July 2022 until September 2024," she said.
She also mentioned that i-Lindung is a self-service platform on i-Akaun (Member) which aims to facilitate the purchase of insurance and takaful products under the EPF Members Protection Plan.
Through the plan, members can purchase insurance and takaful products from insurance companies and Takaful Operators (SIT) approved by EPF, she said.
She mentioned that there are five insurance companies offering the member protection plan currently.
"The government welcomes the Honorable Member's proposal for the i-Lindung programme to be improved through subsidies and negotiations with insurance companies so that medical protection can be offered up to the age of 99.
"The government is always committed to continuously improving the i-Lindung program together with insurance companies and takaful operators to be able to offer better medical protection plans to EPF members at reasonable premium rates in the future," she said, in response to Chiew.
