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Public awareness on takaful, insurance coverage in Malaysia still low, says deputy finance minister – eNews Malaysia

PONTIAN, Nov 4 — Public awareness of the significance of getting takaful and insurance safety is still low, as 60 per cent of the nation’s inhabitants doesn’t have enough takaful or insurance coverage for emergencies.

Deputy Finance Minister I Datuk Seri Ahmad Maslan mentioned efforts to extend awareness of the significance of takaful safety should proceed in faculties, establishments of upper studying, Technical and Vocational Education and Training (TVET) establishments, in addition to rural and concrete areas.

“As such, the Takaful Masuk Kampung programme will proceed to be held to spice up monetary literacy and supply publicity and rationalization on takaful to make sure that we and our households are protected,” he mentioned at a press convention after officiating the programme right here at this time.

Also current had been Malaysian Takaful Association (MTA) chief govt officer Mohd Radzuan Mohamed and Pulai Sebatang State Assemblyman Hasrunizah Hassan.

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Malaysian Takaful Association (MTA) chief govt officer Mohd Radzuan Mohamed delivers a speech in the course of the launch of the ‘Takaful Masuk Kampung’ programme in Pontian November 4, 2023. — eNM pic

Mohd Radzuan mentioned nearly all of those that would not have takaful and insurance coverage had been rural residents.

“Take the flood catastrophe in 2021 for instance, solely 5 per cent of the automobiles affected have flood safety. Of the RM6.1 billion complete losses recorded, solely RM2 billion had been lined, placing strain on the federal government to cowl the stability.

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“If the overall losses had been absolutely lined by takaful, it could have lowered the quantity of losses as a result of the idea of takaful is to assist one another and now we have a big community to assist folks,” he mentioned.

Meanwhile, Hasrunizah mentioned via the workplace of the Pulai Sebatang State Legislative Assembly, greater than 100 folks comprising hardcore poor residents and village heads got takaful safety final 12 months.

“Previously, we supplied takaful safety to 947 election workers and at this time, one other 277 are given takaful safety,” she mentioned, including that Ahmad, who can be the Pontian Member of Parliament, additionally contributed to offering takaful safety for tahfiz college students in the world.

Held in Pontian, the Takaful Masuk Kampung programme organised by the MTA attracted about 2,000 guests, that includes exhibitions in addition to gross sales cubicles. — eNM

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