Life Assurance (Malaysia) Bhd will pay a total of RM2 million to 14 next-of-kin of those on board the missing Malaysia Airlines flight MH370, said director and chief executive officer, Datuk Koh Yaw Hui.
He said the company will set aside procedures and proceed with the claims payment.
"We understand their situation and will just make the payments," he told the media on the sidelines of the official opening of the All-New Great Eastern Life Centre For Excellence in Kuala Lumpur today.
Koh said the process of making the payments will take just a day.
He added that all the clients insured with Great Eastern Life Assurance were Malaysians.
MAS flight MH370 was on its way from Kuala Lumpur to Beijing on March 8 when it went missing 40 minutes into the journey.
There were 239 passengers and crew on board, and among them 153 Chinese nationals, 50 Malaysians and seven Indonesians. – Bernama, April 15, 2014.