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LIFE FRAMEWORK

LIFE INSURANCE & FAMILY TAKAFUL FRAMEWORK

 

WHAT IS LIFE INSURANCE & FAMILY TAKAFUL FRAMEWORK?

Life Insurance & Family Takaful Framework outlines the initiatives that will take place in the next few years in the Malaysian Insurance & Takaful landscape. Because of its long name, people simply refer to it as the “LIFE Framework”

The LIFE Framework aims to:

  • Promote innovation and a more competitive market
  • Promote higher levels of professionalism
  • Increase transparency in takaful products and services

AS A CONSUMER, WHAT DOES IT MEAN TO YOU?

At the heart of the LIFE Framework, is you, the consumer. With these initiatives, you can say goodbye to days of confusing and fine print jargons, have greater and wider access to takaful products and advice and look forward to creative products that meet your unique needs!

HOW DOES IT WORK?

The framework is made up of 3 main pillars:

  • Pillar 1: Removal of limits on operating cost
  • Pillar 2: Diversification of distribution channels
  • Pillar 3: Strengthen market practices

Initiatives are then implemented in a phased approach so that the transition to a better future is structured and smooth.

Click below to know more about the specific initiatives in support of the LIFE Framework:

2015       Financial Advisers in Malaysia
      Service Guide
2016  
      Online Account Facilities
      Direct Channel
2017    
      Enhanced Marketing Illustration

More initiatives coming your way

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