KUALA LUMPUR, Dec 18 (Bernama) — As part of Great Eastern Takaful Berhad’s (GETB) commitment in the Race for Cover Towards Takaful 2020 (RfCTT 2020) by the Malaysian Takaful Association (MTA), the company is proudly presenting the i-Great Evo; an evolutionary protection plan for one’s evolving needs.
Take up rate for takaful plans among married individuals stand at 71% while for singles, it is significantly lower at 25%, our data reveals. The data also shows that the median marriage age is 26-28 years old, which testifies that most people prefer to wait until they are a little long in the tooth to participate in a Takaful -plan. Subscribing to a takaful plan at a later stage in life will result in higher contribution due to higher risks factors brought on by medical conditions, In this scenario, a takaful participant will opt for lower coverage due to affordability issues, and this will translate into having lower protection.