Can Budget 2021 Boost Life Insurance?

What does the life insurance sector want in Budget 2021? We speak to LIAM CEO, Mark O'Dell, to find out.

Earlier this year, the Life Insurance Association of Malaysia (LIAM) and the Malaysian Takaful Association (MTA) announced the option to defer the payment of life insurance premiums/takaful contributions from April 1st to Dec 31st. With that, it was reported in early September that more than a million people affected by the pandemic opted to defer their life insurance premium payments for three months, with LIAM estimating that the total amount of premium payments deferred was more than RM1 billion.

We ask Mark about the current situation, pressing concerns, and LIAM's Budget 2021 wishlist.

Brought to you by Mah Sing.