, Malaysia

Malaysia passes bill for insurance cover for housewives

Three million housewives would benefit from the cover.

A bill that will offer voluntary insurance protection for housewives was recently passed in Malaysia.

Called the Housewives' Social Security Bill, the bill will cover housewives from any illnesses or incidents whilst performing their duties in the household. Depending on the severity of the injuries, the insurance may compensate for as much as $67.28 (RM300) to $11.2k (RM50k).

Husbands will have to pay $26.91 (RM120) to the Social Security Organisation (Perkeso) in advance to provide protection for their wives for a period of 12 months. However, if the husband voluntarily registered for the scheme but failed to make contributions, they would be fined not more than $2.24k (RM10k) or be imprisoned for not more than two years or both.

READ MORE: Malaysian digital insurer VSure.life expands footprint in the UK

Housewives may also choose to contribute to their own insurance protection if their husbands do not sign up for the scheme.

"If a husband cannot continue making contributions, he must inform Perkeso within 60 days before the expiry of the current contribution," said Deputy Human Resources Minister Datuk Awang Hashim

The scheme would be eligible to about three million housewives aged below 55.
 

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