From 15 July 2022, eligible BKM recipients can redeem their RM75 Perlindungan Tenang Voucher with initial minimum payment of RM5 and enjoy the benefits of financial protection against key risks in life 

KUALA LUMPUR, July 15 (Bernama) -- Starting 15 July 2022, eligible BKM recipients can redeem their RM75 Perlindungan Tenang voucher (PTV) for only RM5 while the balance of RM70 will be borne by the Government to enable recipients to enjoy the benefits of insurance/takaful coverage that provides financial protection in the event of death, fire or other unfortunate events. The RM5 contribution is part of the recipient’s insurance premium or takaful contribution for the Perlindungan Tenang Protection Plan. 

The RM5 contribution for the redemption of the RM75 PTV is a new requirement to further enhance BKM recipients’ understanding of the Perlindungan Tenang protection plan and to ensure that BKM recipients are fully aware of the insurance/takaful plan that they are purchasing or participating in. 

The industry would like to advise all BKM recipients to ensure that they are aware of their eligibility by checking on the MyPTV portal at www.myptv.my . They are also advised to understand the details in the protection product that they intend to purchase/participate in and to provide their explicit consent for the purchase of the product using the voucher. They also need to ensure that the RM5 contribution does not come from any third party/agent/intermediary so that as a policyholder or takaful participant, one needs to be fully aware of the coverage and the benefits of the Perlindungan Tenang protection plan. By understanding the protection plan that they buy or participate in, a BKM recipient can protect himself/herself from being misled or given incorrect information on their Perlindungan Tenang policy/certificate. 

The minimum payment of RM5 can be made in cash or online to the insurer or takaful operator of Perlindungan Tenang product that a BKM recipient intends to purchase or participate in (online or over the counter). BKM recipients are advised to keep the official receipt of the RM5 payment for their records. 

Since the introduction of the PTV in September 2021, this initiative has benefited 1,705,687 people in 2021 and up to end June 2022, a total of 2,881,444 vouchers have been redeemed which contribute towards improving the penetration of insurance coverage among the lower income group.

Following feedback from the public, the industry would like to reiterate its commitment to ensure that insurance/takaful products sold are made with consumers being given due information about the product and individual consent is obtained.

For more information on the RM5 new requirement for PTV redemption, please refer to FAQ. BKM recipients are also advised to contact their insurance company/takaful operator or visit MyCoverage website at www.mycoverage.my for more information on PT products. To check on PTV eligibility, kindly visit www.myptv.my.

Alternatively, they may e-mail their enquiry to LIAM contact at ptv@liam.org.my , MTA at enquiries@malaysiantakaful.com.my or PIAM at corpcomms@piam.org.my . PTV Voucher Programme Call Center can be reached at 03 7723 9333 from 8.00 am to 6.00 pm, Monday to Friday. 

ABOUT LIFE INSURANCE ASSOCIATION OF MALAYSIA (LIAM)
Formed in 1974, the Life Insurance Association of Malaysia (LIAM) is a trade association registered under the Societies Act 1966. LIAM has a total of 16 members, of which 14 are life insurance companies and 2 life reinsurance companies. LIAM’s objectives are to promote a progressive life insurance industry; to enhance public understanding and appreciation for life insurance; to upgrade the image and professionalism of the life insurance industry and to support the regulatory authorities in developing a strong industry. More information on LIAM can be obtained from its website: www.liam.org.my 

ABOUT MALAYSIAN TAKAFUL ASSOCIATION (MTA)
Malaysian Takaful Association (MTA) was established on November 2002 under the Societies Act 1966. It is a trade association representing all 18 licensed Takaful and Retakaful operators in the country. The objectives and the powers of MTA are to promote the interests of its members and to inculcate the implementation of self-regulation within the Takaful industry. More information on MTA can be obtained from its website: www.malaysiantakaful.com.my

ABOUT PERSATUAN INSURANS AM MALAYSIA (PIAM) 
PIAM is the national trade association of all licensed direct and reinsurance companies for general insurance in Malaysia. Currently, PIAM has 25 member companies. More information on PIAM can be obtained from its website: www.piam.org.my  

Issued by: LIAM, MTA and PIAM 

Source: Malaysian Takaful Association (MTA)

FOR MORE INFORMATION, PLEASE CONTACT: 
LIAM
Name: Puan Norizan Hassan
Head of Corporate Communications
Tel:  03-26919168, 03- 26916628, 03-26918068
Email: liaminfo@liam.org.my

MTA
Name: Puan Siti Nor Kamariah Ishak
Head, Corporate Communications
Tel: 03-2031 8160
Fax: +603-2031 8170 
Email: mtasecretariat@malaysiantakaful.com.my

PIAM
Corporate Communications
Tel: +603-2274 7399 extn 34
Fax: +603-2274 5910
Email: corpcomms@piam.org.my

--BERNAMA