Takaful Ikhlas Targets 6 Million Clients

After spending at least 1/2 hour scratching my head, I think I finally figured out what the above eye-catching news heading really mean.

My first interpretation on the heading was Takaful Ikhlas would get 6 mil clients within 12 months for its Medic Assist Takaful, which is a typical H&S scheme. The 6 mil figure would have put Takaful Ikhlas the largest insurer/takaful operator in Malaysia in terms of policy owners, overtaking the big giants including Great Eastern, AIA, ING and Prudential!

Also given the cheapest contribution for Medic Assist Takaful is RM257, 6 mil customers would bring in at least RM1.5 bil contributions, this is much higher than the 2009 target set by Takaful Ikhlas for the whole company, i.e. RM520 mil.

6 mil clients also means about 1 in 4 Malaysians would sign up for the scheme!

My conclusion is the news heading is misleading, "targets" does not necessarily mean "100% success rate". The 6 mil could be the number of unit trust investors in Malaysia (does anyone know how many unit trust investors are there in Malaysia?).

[Latest News] It is confirmed that the 6 mil clients is a mistake! An advertorial published in Business Times on 22 April confirmed that it should be RM6 mil contributions instead. This works out to be 6,000 clients per year!!!

Source: Bernama & Takaful Ikhlas