KUALA LUMPUR – The insurance and takaful industry has rolled out Phase Two of the Perlindungan Tenang Voucher (PTV) programme for the bottom 40% of the household income group (B40), starting November 15, according to three associations.
Under the second phase, the social protection is offered to about 4.8 million eligible recipients of the 2021 Bantuan Prihatin Rakyat (BPR) from the single and senior citizen categories via a RM50 voucher subsidy to purchase a Perlindungan Tenang protection plan from participating licensed insurers and takaful operators in the country.
“The single and senior citizen recipients can check their eligibility for the RM50 PTV voucher at www.myptv.my,” the Life Insurance Association of Malaysia (LIAM), Malaysian Takaful Association (MTA) and Persatuan Insurans Am Malaysia (PIAM) said in a joint statement on November 16.
The first phase of the PTV Programme, which was rolled out on September 30, saw about 93,000 vouchers worth over RM 4.6 million were redeemed by the 3.6 million eligible BPR recipients under the household category.
The government would extend the PTV Programme for another year in 2022 with an increase in the voucher to RM75.
PIAM chairman Antony Lee believes the government has further enhanced the people’s financial resilience by increasing the subsidy under the PTV programme to ensure that more BPR recipients were able to avail themselves of essential insurance protection amidst these financially challenging times.
Meanwhile, MTA chairman Elmie Aman Najas said Perlindungan Tenang products provide basic protection plans against key risks in life such as death, accidents, fire, or other unfortunate events.
“Through the PTV Programme, eligible BPR recipients can now protect themselves and families against key risks in life with premiums and contribution from only a few ringgit per month.
“BPR recipients, who are eligible, are strongly encouraged to make redemption to enhance their social safety net,” he said in a statement.
LIAM president Loh Guat Lan hopes the eligible recipients would redeem their 2021 vouchers, which is available until December 31, 2021.