How many unclaimed death benefits are estimated by LIAM and MTA?

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Unclaimed Death Benefits Estimated at 50,000 Policies

An estimated 50,000 insurance policies and takaful certificates involving death benefits remain unclaimed by beneficiaries. This figure was provided by the Malaysian Takaful Association (MTA) and the Life Insurance Association of Malaysia (LIAM).
"Semak Kasih" Portal Launched to Facilitate Claims

Bank Negara Malaysia (BNM) has introduced the "Semak Kasih" portal to assist beneficiaries in checking for unclaimed insurance policies or takaful certificates. The portal aims to enable individuals to verify their potential coverage and connect with the relevant insurance or takaful provider for further processing.
Importance of Insurance and Takaful Protection

Insurance and takaful protection are highlighted as crucial financial tools that can support family members during challenging periods, such as covering medical expenses, or losses from incidents like fires and accidents. These protections can be vital for the welfare of surviving family members, especially when they are unaware of existing coverage.
Efforts to Improve Claim Efficiency

Insurance and takaful companies have previously undertaken various initiatives, including sending letters and utilising agents, to reach out to beneficiaries. The "Semak Kasih" portal is intended to enhance the efficiency of the benefit claim payment process by simplifying the verification of coverage and contact with providers.

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How many unclaimed death benefits are estimated by LIAM and MTA?

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