Insurance, Takaful Industry Commits To Timely Claims, Supports MHIT Plan

KUALA LUMPUR, Jan 29 (Bernama) — The Malaysian insurance and takaful industry is committed to ensuring timely claims payouts, clear communication with hospitals, and efficient claims processing, enabling Malaysians to access care without delay.

In a joint statement today, the Life Insurance Association of Malaysia (LIAM), Malaysian Takaful Association (MTA), and the General Insurance Association of Malaysia (PIAM) said the industry welcomes and supports fully the introduction of the low-premium basic Medical and Health Insurance and Takaful (MHIT) plan under the RESET Strategy.

“MHIT is an important initiative that would expand financial protection for essential healthcare needs and channel private spending more efficiently,” they said in the statement.

Industry players added that the move will also strengthen conditions for broader health system reforms, align with value-based care that improves health outcomes while ensuring disciplined cost management.

“The insurance and takaful industry stands ready to play its part in delivering the base MHIT plan to Malaysians across the country,” the statement added.

The industry will work closely with Bank Negara Malaysia to finalise implementation details and operations, with the launch scheduled for early 2027.

The base MHIT plan is designed to complement existing medical plans, which will continue to be available.

The statement also said that the industry supports offering the base MHIT plan at scale, as standardisation provides a strong foundation for broader participation, consistent understanding of coverage, and greater public confidence.

-- BERNAMA