National protection scheme to begin soon

The Perlindungan Tenang Voucher (PTV) Programme, a national initiative by the Malaysian government in collaboration with insurance and takaful providers will be officially launched, offering social protection to about 8.4 million eligible Bantuan Prihatin Rakyat (BPR) recipients.

Under the first phase of the PTV Programme rollout, a MYR50 voucher will firstly 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. Subsequently, this initiative will be made available to other categories of BPR recipients at a later date.

Perlindungan Tenang is an existing initiative introduced by Bank Negara Malaysia in 2017. This initiative brings together the insurance and takaful industry to develop insurance and takaful products that meet the needs of underserved segments, particularly lower-income population. It provides basic protection plans against key risks in life such as death, accidents, fire or other unfortunate events and must meet the criteria of affordable, easily accessible to the target audience, provide good protection value, easy to understand as well as easy to purchase and to make claims.