Bank Negara launches ‘Semak Kasih’ portal to help Malaysians check unclaimed insurance, takaful benefits

KUALA TERENGGANU, June 26 — Bank Negara Malaysia (BNM) today launched the “Semak Kasih” portal to make it easier for beneficiaries to check unclaimed insurance policies or takaful certificates of their family members. 

BNM Deputy Governor Adnan Zaylani Mohamad Zahid said the portal was developed to help beneficiaries verify whether they have insurance or takaful coverage and contact the relevant provider for further action. 

“Insurance and takaful protection issues should not be taken lightly as they can assist family members during difficult times, such as to cover medical treatment costs, fire incidents and accidents.

“In fact, there are still families who do not realise that their loved ones have left takaful or insurance protection for their welfare,” he said when speaking at the launch of the Terengganu Financial Literacy Carnival here today.

Also present were the Life Insurance Association of Malaysia (LIAM) chief executive officer Mark O’Dell and the Malaysian Takaful Association (MTA) chief executive officer Mohd Radzuan Mohamed.

He said Malaysians should strengthen financial protection through insurance or takaful, as well as increase their financial literacy to face economic challenges and the rising cost of living.

Adnan Zaylani said insurance or takaful protection can help individuals and families when facing disasters such as illness, accidents, or fires, and help ensure the welfare of surviving family members.

He said that based on MTA and LIAM’s estimates, approximately 50,000 insurance policies and takaful certificates involving death benefits have yet to be claimed by beneficiaries.

“Several efforts have been undertaken by insurance and takaful companies, including sending letters and using agents to contact beneficiaries.

“To improve the efficiency of the benefit claim payment process, this newly launched portal makes it easier for beneficiaries to check the existence of coverage and contact the relevant provider for further action to ensure that benefits reach the qualified family members,” he said.

Meanwhile, Adnan Zaylani said micro, small, and medium enterprises (MSMEs) continue to be supported through various financing schemes, including microfinancing of up to RM100,000 requiring no guarantor or collateral.

He said the central bank has also allocated RM5 billion under the SME Stabilisation Relief Facility to assist companies affected by the West Asia conflict, with working capital financing of up to RM750,000. 

Besides, he said the iTekad initiative has benefited more than 14,000 participants nationwide, including about 600 in Terengganu, by raising their incomes and standard of living.

“The Financial Education Forum (FEN) initiative is also committed to ensuring that financial benefits are accessible to all levels of society, including the persons with disabilities (OKU) community, via the development of a website as a one-stop financial education centre that is more inclusive and user-friendly,” he said. 

Meanwhile, Adnan Zaylani urged the public to use digital financial facilities prudently, as although digitalisation opens up more economic opportunities, it also increases the risk of fraud and overspending. 

He said research showed that about 37 per cent of Malaysians make impulsive online purchases, while 26 per cent admitted to having a debt burden that was too high.

In this regard, he stressed the importance of financial education from a young age to help future generations make smarter financial decisions. 

He said that among the efforts implemented were the MyDuitStory competition and the launch of the FEN Proaktif 2.0 Programme, in collaboration with Universiti Malaysia Terengganu, to prepare students to enter the world of work with a strong foundation in financial management. 

Adnan Zaylani said that consistently saving from a young age can yield significant long-term returns and help build a more secure financial future.

“We may not be able to control the global economic situation or technological changes, but we can control the financial decisions we make every day.

“Save and spend wisely, protect yourself and continue to increase your knowledge,” he added. — Bernama