COMPENSATION BIG HELP FOR FAMILY
Insurance payout enables grieving siblings to continue studies, says mum
CHUAH BEE KIM KLUANG firstname.lastname@example.org
THE SSPN-i Plus scheme under the National Higher Education Fund Corporation (PTPTN) has, since its launch on June 8, 2015, recorded 60,655 accounts as of Jan 31.
The deposits in the same period totalled RM20.4 million, including insurance coverage, with total protection benefits of RM2.9 billion.
As of March 15, 91 claims had been made, amounting to a payout of RM866,060.
With as little as RM1 a day, one will receive compensation if tragedy strikes.
This was the case for 20-yearold Chai Bao Yi, who lost her father to nose cancer earlier this year.
Bao Yi’s father, Chai Kwan Boon, 46, a mechanic, had bought insurance coverage under the Zamrud package of the SSPN-i Plus.
Under the package, he paid RM200 monthly for accounts opened under the names of his three children — Bao Yi, Jing Min, 19, and Jun Chuen, 14.
Bao Yi, who holds a diploma in music, would like to pursue a degree in music.
She received compensation of RM127,680 from PTPTN deputy chief executive Mastura Mohd Khalid at the Kluang PTPTN branch office here yesterday.
“My father did not tell me about the coverage he bought for us,” said Bao Yi.
Of the RM200, RM180 went to savings, while RM20 was for insurance coverage.
Kwan Boon died on Jan 8. He was diagnosed with cancer only after buying the savings and insurance scheme.
Chai’s widow, Soo Boon Siew, 47, having seen the benefits of the scheme, has signed up as an online agent for SSPN-i Plus.
“My children can continue their studies with the amount we received,” Soo said.
Mastura said there were 4,000 online agents, including those working part-time.
Besides the Zamrud package, there are also the Intan, Delima, Topas, Nilam and Berlian packages, which were all launched in 2015.
The Intan package starts at RM30 per month, with RM20 going to savings and RM10 to insurance coverage.
The most expensive package is the Berlian package, which costs RM500 per month, where RM200 is allocated for savings and RM300 for insurance coverage.
Chai Bao Yi (third from right) with National Higher Education Fund Corporation (PTPTN) deputy chief executive Mastura Mohd Khalid during the handover of compensation at the Kluang PTPTN branch office yesterday.