Prime Minister Tun Dr Mahathir Mohamad today launched the mySalam B40 National Protection Scheme that will provide takaful protection for the bottom 40% household income group (B40) who received the People’s Living Aid (BSHR).
The scheme is aimed at helping the B40s to deal with financial difficulties arising from admission to government hospitals or when struck with one of the 36 critical illnesses.
Dr Mahathir, when launching the scheme at the Finance Ministry here, said mySalam would benefit 3.69 Malaysians between the age of 18 and 55.
He said as a responsible government, Pakatan Harapan (PH) felt the hardship suffered by the people who lost their income due to illnesses or accidents.
“For the B40 group, especially those who are self-employed or paid daily, the takaful claim from the mySalam scheme will provide them with temporary relief to help them meet their daily needs and expenses while undergoing treatment for their illnesses,” he added.
Dr Mahathir said mySalam scheme was introduced with a startup contribution of RM2 billion from Great Eastern insurance and takaful companies.
He said the scheme was also aimed at raising awareness and understanding among the B40s on insurance coverage and takaful.
“The mySalam scheme introduced by the government is a move that is significant towards formulating a financial development policy that is more inclusive in Malaysia,” he added.
He said although the financial burden inherited was huge and heavy, it would not hamper the government from introducing people-friendly programmes, such as the mySalam scheme.
The government, he said, would ensure the programmes reach the target group and those in need would receive the benefits.
“We will do our utmost to generate funds to ease the people’s burden and to achieve the goal, we also take innovative and alternative measures. These efforts have produced results in helping the people,” he added.
Dr Mahathir hoped that other private insurance companies could work together to get more Malaysians to have insurance and takaful policies.
“I believe this scheme will attract and increase contributions to the Great Eastern Fund and by all insurers and takaful operators in Malaysia,” he added.
The prime minister also said he was happy with the strong cooperation between the Finance Ministry and the Health Ministry in realising the government’s aspiration to have a comprehensive social health network to improve the health and well-being of Malaysians.