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Sunday, 26 September 2010

ETP - Life Insurance

The Economic Transformation Programme (ETP) proposes to increase life insurance penetration (as % GDP) from the current 3% to 4% in 2020 and the ratio of number of life policies over population from the current 47% to 75%. This is to be achieved by separating the current combined tax relief for EPF and insurance to RM6,000 each. An Employee Insurance Scheme with auto term coverage will be created, CI and HB covers optional.

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