Govt, insurance and takaful associations to launch PTV programme on Sept 30

Govt, insurance and takaful associations to launch PTV programme on Sept 30

KUALA LUMPUR, Sept 29 – Malaysian Takaful Association (MTA), together with Life Insurance Association of Malaysia (LIAM) and General Insurance Association of Malaysia (PIAM), will officially launch the Perlindungan Tenang Voucher (PTV) Programme, a national initiative in collaboration with the government on Sept 30, 2021.

A joint statement today by the three associations said the PTV Programme offers social protection to about 8.4 million eligible Bantuan Prihatin Rakyat (BPR) recipients.

Under the first phase of the PTV Programme rollout, a RM50 voucher will be allocated to 3.6 million BPR recipients under the household category to purchase a Perlindungan Tenang protection plan from participating licensed insurers and takaful operators in the country, it said.

"Starting from Sept 30 onwards, BPR recipients under the household category will be able to confirm their eligibility for the RM50 voucher via the PTV portal at www.myptv.my.

"Upon confirmation of their eligibility, they are advised to visit www.mycoverage.my to check the features and benefits of the respective Perlindungan Tenang products which are linked to the individual participating insurers or takaful operators’ website to complete their purchase of the product that suits their needs," it added.

Alternatively, BPR recipients can walk into any branch of participating insurance companies/takaful operators or authorised Perlindungan Tenang agents/distributors to check on their eligibility and purchase the insurance/takaful product of their choice.

The statement said the RM50 voucher will enable recipients to choose a range of protection plans covering death, accidents, and damage to properties.

"For example, a 35-year-old recipient will be entitled to death benefits of up to RM20,000 for life insurance while for personal accidents, the recipient will be entitled accidental death benefits of up to RM48,000," it said.

Meanwhile, Finance Minister Tengku Datuk Seri Zafrul Abdul Aziz said COVID-19 has further highlighted the importance of social security for the lower income group in society.

"Given the low take-up of insurance among the B40 group, and in the spirit of #KeluargaMalaysia, the government’s subsidy for insurance/takaful coverage is part of efforts to enhance the social safety net for the B40. This is but a small step towards social security reform, which the government is earnestly looking at through Budget 2022, and as a component of its PERKUKUH Pelaburan Rakyat programme," he said in the same statement.