Malaysia Launches Portal to Help Heirs Claim Unclaimed Insurance and Takaful Benefits

Bank Negara Malaysia (BNM) has introduced the "Semak Kasih" portal, a new initiative designed to simplify the process for heirs to check if deceased family members had any unclaimed insurance policies or takaful certificates. This launch comes in response to an estimated 50,000 death benefit policies that are believed to be eligible for claims but have yet to be collected.

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Many families are still unaware that their loved ones have left behind takaful or insurance coverage for their welfare.

Adnan Zaylani Mohamad Zahid, Deputy Governor of BNM, explained that the portal aims to assist heirs in verifying the existence of insurance or takaful coverage and guide them on contacting the relevant providers for further action. He emphasized the importance of insurance and takaful, noting their role in supporting families during difficult times, including medical expenses, fires, and accidents. "Many families are still unaware that their loved ones have left behind takaful or insurance coverage for their welfare," he stated, citing the estimate from the Malaysian Takaful Association (MTA) and the Life Insurance Association of Malaysia (LIAM).

BNM and the insurance industry have undertaken various efforts to reach eligible beneficiaries, including sending letters and utilizing agents. However, the "Semak Kasih" portal is intended to enhance the efficiency of benefit claims processing. "Therefore, to improve the efficiency of the benefit claims process, the Semak Kasih portal is introduced to facilitate heirs in checking and obtaining further information from the relevant providers," Adnan Zaylani said. "This step is important to ensure these benefits reach the families who are truly entitled to them."

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Therefore, to improve the efficiency of the benefit claims process, the Semak Kasih portal is introduced to facilitate heirs in checking and obtaining further information from the relevant providers.

During the event, Adnan Zaylani also touched upon financial crime, reporting that Terengganu recorded nearly RM18 million in losses due to scams in the first six months of the previous year. He highlighted that victims come from diverse backgrounds and fall prey to increasingly sophisticated scam tactics. He stressed that financial literacy is no longer just supplementary knowledge but a crucial life skill for navigating current challenges, urging citizens to strengthen their financial resilience by building a solid financial foundation.

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This step is important to ensure these benefits reach the families who are truly entitled to them.