The Employees Provident Fund (EPF) recently expanded the list of critical illness members can withdraw for from 39 to 55. This is great as some folks are either uninsurable or have not taken the time to get proper insurance coverage. Withdrawals can be made from whatever amount is in Account 2.
The withdrawal is not only for the EPF member but also extends to these few categories:
- Spouse
- Children/Step-children/Adopted children
- Parents/Parents-in-law/Step-parents/Foster parents
- Siblings
Allowed medical expenses:
- All charges by the medical centre related to the treatment received by the patient, inclusive of the cost of buying the medical aid equipment allowed in the treatment for the approved illness.
Medical aid equipment:
- Medical aid equipment refers to the medical support equipment used for the purpose of treatment for the approved critical illness.
Email me at totalcoveragesolutions@gmail.com to request for the full list of critical illness and withdrawal procedure.
This might interest you: Put Your EPF Money To Better Use
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