Prudential Malaysia Makes Insurance and Takaful Coverage More Accessible and Inclusive by Broadening the Definition of Family

Kuala Lumpur, 18 July 2022 – As society evolves, so has the modern family structure, with close relationships and care-giving extending beyond the nuclear family. While the concept of extended family in Asian culture is not new with multi-generation family members often living in the same household, financial dependents vary from family to family.

Understanding this, Prudential Malaysia^[1] has introduced its latest brand campaign, “Made For Every Family”, that signifies its commitment to progress and protecting families of every shape and size across Malaysia.

Recognising the diversity of families, Prudential Malaysia is expanding the definition of financial dependants for its insurance policies and takaful certificates beyond spouse, children and legal guardian relationships. Customers may now nominate their grandparents, uncles/aunties, siblings, cousins, nieces/nephews and grandchildren as financial dependants.

Mr. Eric Wong, Chief Marketing and Partnerships Distribution Officer of Prudential Assurance Malaysia Berhad said, “We are committed to provide relevant solutions to meet our customers’ health and wealth needs. By embracing a more progressive and inclusive definition of family, we are able to provide access to financial protection to more people.”

Today, more than half of the Malaysian population does not own a life insurance policy or family takaful certificate^[2]. In addition, the Life Insurance Association of Malaysia (LIAM) further revealed that of those protected, over 90 per cent do not have sufficient coverage to protect themselves and their families.

Closing this protection gap requires equalising access to insurance and takaful coverage. By making its solutions more inclusive, Prudential Malaysia hopes to close the protection gap and to serve more people and more families.

Datin Sri Azlin Arshad, Chief Marketing Officer of Prudential BSN Takaful Berhad said, “For many Malaysians, family isn't just made up of immediate family members. Grandparents, aunts or uncles are often caretakers, financial providers and role models in our lives too. Insurance and takaful coverage is a gift of love and Prudential Malaysia is making a difference by protecting diverse family units who provide for one another”.

In conjunction with the “Made for Every Family” brand campaign, a platform that allows people to express and share what makes their family special has also been launched by Prudential Assurance Malaysia Berhad. Prudential’s Famvatar is a digital experience that lets Malaysians create a group avatar starring their family which they can then use as fun-filled chat stickers and stand a chance to win up to RM40,000* worth of prizes.

For more information of “Made For Every Family”, please visit www.prudential.com.my and www.prubsn.com.my.

“Made For Every Family” launch video

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^[1] Prudential Assurance Malaysia Berhad (PAMB) and Prudential BSN Takaful Berhad (PruBSN), collectively referred to as Prudential Malaysia.

^[2] https://www.thestar.com.my/business/business-news/2022/04/18/insurance-sector-on-growth-trend

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