Insurance and takaful industry launch voucher program to extend social protection to low-income groups

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KUALA LUMPUR (December 31): The government, in collaboration with the insurance and takaful industry, will offer next year to all eligible beneficiaries of Bantuan Keluarga Malaysia (BKM) in the categories of households, singles and individuals aged a RM75 Perlindungan Tenang (PTV) voucher from January 1, 2022.

The RM75 PTV is a national government initiative to extend social protection to the low-income group, as announced in Budget 2022.

The voucher will allow them to renew their existing Perlindungan Tenang policy / certificate for another year or purchase a new Perlindungan Tenang protection plan from licensed insurers and takaful operators nationwide.

Eligible BKM recipients will also be able to redeem the RM75 voucher to purchase a full motorcycle insurance policy (150cc and under) or a takaful certificate.

Malaysian Takaful Association (MTA) President Elmie Aman Najas said extending the PTV program to its second year aims to increase social protection for low-income segments of Malaysian society.

“Since the launch of the PTV program from September 30 to December 31, 2021, 1,109,800 PTV vouchers with a net used amount of over RM 55 million have been redeemed,” he said in a statement on Friday December 31. .

Persatuan Insurans Am Malaysia (PIAM) President Antony Lee said increasing social protection and insurance penetration rates are essential for a country as it helps reduce people’s exposure to risks and to protect themselves and their loved ones from unforeseeable dangers and interruption or loss of income.

Lee said recent flooding has highlighted the lack of protection and the need to adequately protect one’s property against natural disasters, and such coverage is available as part of Perlindungan Tenang’s general insurance products.

The President of the Life Insurance Association of Malaysia (LIAM), Loh Guat Lan, meanwhile said, through the RM75 PTV program, that the low-income group will get a voucher of a higher value that will allow them to have more options from a range of affordable protection plans. that meet their needs.

“We would like to advise all eligible BKM beneficiaries to take this opportunity to enroll in the Perlindungan Tenang Protection Plan as a safety net for their families and relatives,” she said.

As part of the Perlindungan Tenang program, 16 participating insurance companies and takaful operators offer a range of 22 protection plans that provide coverage against major risks to life, such as death, accidents, fire, property damage and other unfortunate events.

The premium for some of these protection plans starts from RM2.03 per month.

All BKM recipients are advised to verify their eligibility for the RM75 voucher through the PTV portal at www.myptv.my or to contact the PTV program call center on 03-7723 9333.


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