INSURANCE AND TAKAFUL INDUSTRY ANNOUNCES THE LAUNCH OF PERLINDUNGAN TENANG VOUCHER 3.0 PROGRAMME FOR STR RECIPIENTS
- PTV 3.0 will be available for redemption by two million eligible STR recipients starting 1 September 2025.
Kuala Lumpur, Tuesday, 2 September 2025 – The Perlindungan Tenang Voucher (PTV) Programme, a public-private initiative by the Government of Malaysia in collaboration with the insurance and takaful industry, enters its third phase with the launch of Perlindungan Tenang Voucher 3.0 Programme (PTV3.0 Programme). Under Budget 2025, Sumbangan Tunai Rahmah (STR) recipients can avail themselves to financial assistance of RM30 to partially cover the cost of purchasing Perlindungan Tenang insurance/takaful products which offer protection against key risks in life such as death, accidents and other unfortunate events. This initiative is part of the Government’s strategy to strengthen social protection by inculcating more proactive risk management behaviour among the lower-income households and promote financial inclusion.
From 1 September 2025, STR recipients are advised to check on their eligibility for the RM30 voucher via the PTV portal at www.myptv.my. Eligible STR recipients, may then:
i. Visit www.mycoverage.my to find out about the features and benefits of the Perlindungan Tenang 3.0 insurance/takaful products (PTV 3.0 products) offered by participating insurers and takaful operators
ii. Walk into any branch of participating insurance companies, takaful operators or authorised Perlindungan Tenang agents / distributors to check on their eligibility and redeem the voucher for PTV 3.0 products.
Features of PTV 3.0 Products
Under the PTV 3.0 Programme, eligible STR recipients will be able to purchase Perlindungan Tenang products from participating insurers and takaful operators by utilising the RM30 financial assistance from the Government, with the remaining premium or contribution amount of at least RM20 to be borne by STR recipients.
The design of the PTV 3.0 Programme takes into consideration the experience from the first two phases of the PTV programme launched previously and is intended to encourage STR recipients to take a more active decision in purchasing protection products that meet their needs. It is envisioned that through this initiative, STR recipients will better equip themselves with the necessary knowledge of the product features and benefits as well as the purchase and claims processes, through the minimal amount that the STR recipients have to pay while continuing to be supported by financial assistance from the Government. Over the longer term, it is hoped that the knowledge and familiarity with purchasing protection products by the STR recipients will help strengthen household resilience against unanticipated financial shocks.
Malaysian Takaful Association CEO, Encik Mohd Radzuan Mohamed, said, “The PTV3.0 Programme not only promotes financial inclusion but also provides an important opportunity for STR recipients to take their first steps towards financial planning and protection for their families.” “This significant collaboration between the Government and the takaful and insurance industry through the PTV3.0 Programme reflects our commitment to expanding social protection and supporting the nation’s inclusive development agenda.” he added.
Meanwhile, LIAM CEO, Mark O’Dell said, “Through the PTV 3.0 Programme, more families now have the opportunity to access affordable protection and strengthen their financial security. This programme also helps raise awareness of the value of insurance as a long-term safety net, protecting families from life’s unforeseen challenges. Our industry is proud to stand alongside the Government in ensuring those from the lower-income groups, can have the protection they deserve.”
In addition, the CEO of Persatuan Insurans Am Malaysia, Mr. Chua Kim Soon, said “Through the PTV 3.0 Programme, general insurance providers are proud to play our role in extending affordable protection through personal accident products to underserved communities. This is especially crucial for individuals such as e-hailing and p-hailing riders, gig workers, micro - and small-sized food and beverage (F&B) traders, farmers, and caregivers who require financial protection to safeguard their livelihoods. By extending coverage to especially these groups, the programme not only helps STR recipients protect against everyday risks but also strengthens financial resilience at the household level.”
Ultimately, the PTV3.0 Programme is expected to further achieve Malaysia’s aspiration of higher insurance and takaful penetration and strengthening household resilience nationwide.
The PTV 3.0 Programme is supported by the Malaysian Reinsurance Berhad, Insurance Services Malaysia Berhad (ISM), Life Insurance Association of Malaysia (LIAM), the Malaysian Takaful Association (MTA) and Persatuan Insurans Am Malaysia (PIAM).
About Perlindungan Tenang
The Perlindungan Tenang initiative, introduced by Bank Negara Malaysia in 2017, brings together the insurance and takaful industry to develop insurance and takaful products that meet the needs of underserved segments, particularly the lower-income population. These products provide basic protection against key risks such as death, accidents or other unfortunate events. To qualify under the initiative, Perlindungan Tenang products must meet the criteria - affordable, easily accessible, provide good value protection, easy to understand and simple to purchase and easy claim process.
All Perlindungan Tenang products are clearly identified with the Perlindungan Tenang logo for customers to differentiate them from the other insurance or takaful products.
