FWD Insurance Berhad, together with Bank Simpanan Nasional (BSN), has introduced Qaseh Setia, a microinsurance plan designed to provide affordable financial protection, particularly for the B40 income group.

Since its launch in April 2025, the plan has already reached more than 20,000 Malaysians, reflecting both demand and growing trust in this new form of protection.

Making Insurance Accessible

Qaseh Setia [PDF] is open to Malaysians aged 18 to 55. To keep the plan inclusive, no medical check-up is required at enrolment. Customers can sign up online through FWD’s website or visit any BSN branch, and each person may hold up to two certificates in their lifetime.

Coverage and Premiums

Annual premiums start from RM70, keeping the plan affordable for lower-income households. Depending on the chosen plan, benefits include up to RM90,000 for accidental death, RM15,000 for non-accidental death, RM15,000 for total and permanent disability, and RM3,000 for funeral expenses.

A 30-day waiting period applies for non-accidental claims, including non-accidental death, disability, and funeral benefits.

Renewal, Claims, and Exclusions

Premiums for Qaseh Setia are paid once a year, either at BSN branches, through online banking, or with debit and credit cards. Customers who choose auto-debit will have their premiums renewed automatically each year. A 31-day grace period is provided if payment is late. The plan is renewable annually, although renewals are subject to FWD Insurance’s approval.

When it comes to making a claim, customers can reach FWD by phone, email, or through the website. Claims for death benefits are usually settled within five working days, while disability claims may take up to seven working days once the required documents are received. To make the process easier for loved ones, policyholders are encouraged to nominate a beneficiary so payouts can be made directly.

There are some exclusions to note. For example, claims will not be paid for suicide within the first year, unlawful acts, war-related incidents, or if a disability arises from a pre-existing illness. Full details are available in the Qaseh Setia Product Disclosure Sheet [PDF].

Closing the Protection Gap

FWD Insurance’s chief executive officer, Mak See Sen, said that Qaseh Setia reflects the company’s commitment to making insurance accessible and meaningful for all Malaysians. 

By offering simple enrolment, affordable premiums, and essential coverage, Mak said the plan aims to strengthen financial inclusion and provide peace of mind for underserved communities.

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• TAGS:
• Affordable
• FWD Insurance
• Insurance
• Microinsurance
• Qaseh Setia