KUALA LUMPUR (Sept 3): The National Higher Education Fund Corporation (PTPTN) today has launched a new look of Skim Simpanan Pendidikan Nasional (SSPN) I-Plus product dubbed "Simpan SSPN Plus" where education savings are combined with the benefits of takaful protection.

According to the organisation, it is a very competitive and unique product that will offer attractive privileges and various benefits to depositors, which is indeed the best among other education savings plans on the market.

Following this, PTPTN established strategic cooperation with three takaful operator companies, namely Hong Leong MSIG Takaful Bhd, Great Eastern Takaful Bhd and Takaful Ikhlas Family Bhd.

“Of course various privileges and attractive benefits will be enjoyed by depositors including protection takaful benefits up to RM1.2 million and protection for depositors until they are aged 69 years,” said PTPTN’s chief executive officer Ahmad Dasuki Abdul Majid at a virtual launch of the product today.

Other benefits included terminal illness up to RM200,000, funeral arrangements up to RM10,000, treatment for outpatients due to accidents of up to RM3,000.

“This ‘Simpan SSPN Plus’ product also offers a range of existing benefits to depositors such as competitive dividends, tax assessment relief, shariah-compliant savings, guaranteed by the government. It is also very easy to join, only through online without requiring a medical examination,” he said.

He said this is the best platform for the community to continue to save for higher education purposes, adding that the launch of the product is timely and in line with PTPTN's Strategic Plan to manage funds effectively based on excellent governance, integrity and strategy.

Just two months ago, PTPTN launched its Strategic Plan that outlined its planning and direction in five years, starting 2021 to 2025.

These include making SSPN a major product of education savings in Malaysia, empowering education loans as superior education loans, improving loan repayment collection, implementing strategies for funding and investment with optimal returns and empowering more dynamic and excellent organisation.