MyANGKASA Plus Protection Scheme To Benefit Over 7.2 Million Members

KUALA LUMPUR, Jan 8 (Bernama) -- Angkatan Koperasi Kebangsaan Malaysia Berhad (ANGKASA), through its subsidiary MyANGKASA Holdings Sdn Bhd (MHSB) has introduced the MyANGKASA Plus Protection Scheme, which is expected to benefit over 7.2 million members.

Its president Datuk Seri Dr Abdul Fattah Abdullah who is also MHSB chairman, said the newly launched value-added scheme, which provides comprehensive protection at affordable rates, aims to assist cooperatives and financial sector companies in managing financing risks effectively.

“The scheme’s primary objective is to offer financial protection to cooperatives, companies, and members who obtain financing through cooperatives or companies via ANGKASA’s Salary Deduction System (SPGA), particularly in the event of unforeseen circumstances affecting borrowers.

“It also provides financial aid to borrowers impacted by disasters while ensuring lenders are protected against repayment risks and arrears,” he said in a statement today.

Abdul Fattah assured that ANGKASA would manage the scheme with strong governance to ensure benefits are delivered directly to beneficiaries without any complications. Additional protections, including hibah (gifts), wills, and estate management, are also part of the scheme.

“This initiative is unique and distinguishes itself from existing products in the market,” he added.

The project is supported by MyANGKASA Amanah Berhad (MAAB), ANGKASA’s trust management subsidiary, acting as the trustee and manager of the trust deed signed by customers.

The initiative is a collaboration between MHSB, MAAB, Zurich Takaful Malaysia Berhad and Zurich General Takaful Malaysia Berhad.

Zurich Takaful Malaysia Berhad chief executive officer (CEO) Nur Fatihah Mustafa, said the company is committed to offering high-quality services through this scheme, which provides a comprehensive protection plan for cooperative members. The scheme ensures 24/7 global coverage against unforeseen circumstances.

“This initiative aligns with our brand campaign, ‘Protect What Matters Most,’ underscoring our dedication to safeguarding Malaysians so they can live with confidence and secure a brighter future,” she said.

Meanwhile, Zurich General Takaful Malaysia Berhad CEO Shamsul Azman Alias highlighted that the scheme includes not only death and permanent disability benefits but also takaful coverage for involuntary job loss due to accidents.

-- BERNAMA