HLM Takaful i-Care Hasanah Privilege

This investment-linked takaful certificate offers combination of takaful protection and investment. It provides coverage for death and Total and Permanent Disability (TPD) during the term of the certificate. The Account Value will be payable at the end of the coverage term if no death/TPD claim has been made. The Account Value (value of the units in Participant's Investment Account) shall depends on the price of underlying units, which in turn depends on the performance of your chosen fund.

(a) Tabarru’ means donation from the portion of the contribution that will be allocated to the Participants' Risk Fund (PRF), which will be used for mutual aid and assistance among the fellow participants.

(b) Iltizam Bi Al-Tabarru’ means the commitment to make Tabarru'.

(c) Wakalah means essentially an agent-principal relationship, where the Takaful Operator act as an agent on behalf of the participants to manage the PRF and Participant’s Investment Account (PIA)” and the Takaful Operator earns Wakalah Fee for services rendered.

(d) Wakalah Bi Al-Istithmar means agency contract for investment whereby the Takaful Operator acts as an agent (wakil) to the participants to invest their contribution accordingly. The Takaful Operator will not be entitled to any profit or bear any loss. However, the Takaful Operator are entitled to be remunerated based on the fixed percentages of Account Value, as per the rates set out as Fund Management Charge(s) shown in the Schedule, for managing the fund(s).

(e) Ju’alah means an agreement in which the participant agrees to reward the Takaful Operator for its achievement or good performance in managing the PRF that leads to Surplus of the fund.

The minimum entry age is 30 days old while the maximum entry age is 65 years old, age next birthday (ANB).

The coverage term for this product is 20 years.

The minimum Basic Sum Covered for this plan depends on your age while the maximum Basic Sum Covered is subject to underwriting requirement.

In the event of death of the Person Covered prior to maturity and while the certificate is still in force, the death benefit payable is subject to the chosen type of coverage:

(a) Face Plus – Total of Basic Sum Covered AND Account value

(b) Level Face – Higher of Basic Sum Covered OR Account value

In the event of TPD of the Person Covered prior to maturity and while the certificate is still in force (TPD coverage until age 65 next birthday), the TPD benefit payable is subject to the chosen type of coverage:

(a) Face Plus – Total of Basic Sum Covered AND Account value

(b) Level Face – Higher of Basic Sum Covered OR Account value

If you choose to attach Living Assistance Care 2 Rider to your basic plan, the outstanding yearly savings will also be payable.

The current maximum TPD limit per life is RM 8 million, for all TPD benefits payable under all certificates (including riders) already issued or to be issued, including this certificate in respect of the same Person Covered.

If no death/TPD claim has been made prior to the maturity of the certificate, the Account Value (if any) will be payable.

In the event of death, an amount will be deducted from the Takaful benefit payable under your certificate and paid to the service provider appointed by us. The details of services that you may choose are listed below:

Note: The amount shown above (except for Waqf) is subject to the prevailing market price in the year the service is carried out.

Yes, change in coverage is allowed subject to the rules and procedures at the time of application.

You may choose to attach any of the following riders to HLM Takaful i-Care Hasanah Privilege:

Note: The rider details above are non-exhaustive. Please refer to the Product Disclosure Sheet or Takaful certificate for more details.

You can pay your contributions on an annual, semi-annual, quarterly or monthly basis via cash, credit/debit card, auto debit, direct debit, standing instruction or Biro Perkhidmatan Angkasa (BPA).

You may choose to pay the contribution for 3, 8 or 10 years.

In the event of non-payment of contribution, your certificate will remain in force as long as your Account Value is sufficient to cover the Tabarru’ and other relevant charges. If your Account Value becomes insufficient for any further deduction, thirty (30) days of grace period from the subsequent contribution due date are allowed for payment of a subsequent contribution. If any subsequent contribution remains unpaid at the end of the grace period, your certificate shall lapse and the coverage will cease.

Yes. You may qualify for a personal tax relief for the contributions paid under “Life Insurance/Takaful” up to RM3,000, subject to the final decision of the Inland Revenue Board of Malaysia.

You may surrender your certificate by returning the certificate to us with a written notice signed by you. The Account Value (if any), any unallocated contributions, Tabarru’ and monthly service fee that have been deducted will be payable to you, less any medical fee incurred. You will lose the benefits under your certificate and the amount payable to you may be less than the total contributions that you have paid.

(a) No Takaful benefit except the Account Value (if any) shall be payable if death results directly or indirectly from suicide within twelve (12) months from the commencement date or date of reinstatement of the certificate, whichever is later.

(b) The TPD Benefit is not payable if the TPD results directly or indirectly by self-inflicted injury while sane or insane or any condition or disability that existed prior to or at the commencement date or reinstatement date of the certificate, whichever is later.

Note: This list is non-exhaustive. Please refer to the Takaful Certificate and/or Supplementary Takaful Certificate for the full list of exclusions of the basic plan and selected Rider(s).