Perlindungan Tenang Voucher Programme (PTV) Initiative

The PTV Programme is a national initiative by the Government of Malaysia in collaboration with the insurance and takaful industry to provide basic protection to approximately 8.4 million eligible Bantuan Prihatin Rakyat (BPR) recipients. It officially began on 30 September 2021 as part of efforts to enhance financial inclusion and resilience among low-income households.

With a total fund of RM100 million allocated in the form of a RM50 voucher each to subsidise the purchase of Perlindungan Tenang products which were introduced by Bank Negara Malaysia in 2017. These products provide affordable, accessible, good protection value, and easy-to-understand, purchase and to claim againsts key risks such as deaths, accidents, fire, or other unfortunate events.

The COVID-19 pandemic highlighted gaps in Malaysia’s social protection system, making the PTV Programme a timely initiative to extend social protection to BPR recipients, supporting the national financial inclusion agenda. Initially, 3.6 million BPR households were allocated vouchers to purchase products from licensed insurers and takaful operators, with subsequent expansion to single and senior citizen categories.

The Government further increased the subsidy from RM50 to RM75 starting 1 January 2022 and expanded coverage to include comprehensive motorcycle policies from 1 July 2022. As of 31 December 2021, about 1.7 million vouchers worth RM85 million had been redeemed, demonstrating the programme’s success in enhancing insurance penetration among the underserved B40 segment.