HLM Takaful i-EduSave Genius

HLM Takaful i-EduSave Genius is an ordinary family takaful plan that combines both protection and savings elements. This plan provides protection against Death and Total and Permanent Disability (TPD) and comes with a Milestone Payout that will be payable upon the Person Covered reaching certain ages in life. For pre-birth certificate, this plan provides Infant Shield Benefit that protects both the pregnant mother and child during the prenatal and infancy period. A guaranteed maturity benefit from the PRF together with the PA Value (if any) will also be payable at maturity.

(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 Account (PA) and the Takaful Operator earns Wakalah Fee for services rendered.

(d) 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.

(e) Qard means an interest-free loan provided by the takaful operator in the event of a deficit in the PRF.

(f) Mudarabah means a contract between Participant and Takaful Operator whereby Participant provides the contribution to be managed by Takaful Operator for investment purpose. Any investment profit from the PA investment is to be shared between Participant and Takaful Operator in the ratio of 90:10. In the event of investment loss, the loss will be borne by the Participant provided that such losses are not due to the Takaful Operator’s misconduct (ta`addi), negligence (taqsir) or breach of specified terms (mukhalafah al-shurut).

The minimum and maximum entry age for Person Covered and Participant are shown in the table below:

There are four options of expiry age which are 18, 19, 20 or 21 years old, age next birthday.

In the event of death/TPD of the Person Covered prior to maturity and while the certificate is still in force, the following will be payable:

The Milestone Payout will be credited into the Participant’s Account at the end of the certificate year once the Person Covered has reached certain ages as shown in the table below:

Note: The benefit will be payable provided that the certificate has been in force continuously for at least one (1) year from the certificate commencement date or reinstatement date, whichever is later, Contributions are paid up to date and there is no payment due to Us.

You may choose the percentage of Maturity Benefit from 100%, 110%, 120%, 130%, 140% or 150% of the Basic Sum Covered. If there is no death or TPD claim made during the coverage period, the guaranteed maturity benefit will be payable together with the Account Value.

This benefit provides coverage for both the child and mother as the Person Covered during the prenatal and infancy period. There are 2 plans available for selection which are Infant Shield Basic and Infant Shield Premium. You may refer to Schedule of Benefits for more details (Appendix I).

Note: This benefit is applicable for pre-birth certificate only.

Yes. In the event that the Certificate is issued on the coverage of an unborn child, you are required to provide us a copy of the Birth Certificate within one hundred and twenty (120) days from the Expected Delivery Date (EDD).

If the Birth Certificate is not received within the stipulated period, the Certificate shall be automatically surrendered and the surrender value will be payable to the Participant. In this case, the surrender charge is not applicable.

There is only one rider attachable to HLM Takaful i-EduSave Genius:

The minimum Basic Sum Covered for this plan is RM10,000 while the maximum Basic Sum Covered is subject to underwriting requirement.

The Participant may only reduce the Basic Sum Covered. The guaranteed maturity benefit will also be reduced accordingly. Increase in the Basic Sum Covered is not allowed.

In the event of non-payment of contribution, your Takaful certificate will remain in force as long as the balance in your PA is sufficient to cover the Tabarru’ and other relevant charges. If your PA becomes insufficient to cover all charges and no payment is made by you after a grace period of 30 days, your Takaful certificate shall lapse.

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

You may qualify for a personal tax relief when you participate in this plan together with the contribution waiver rider, up to RM3,000, subject to terms and conditions of the Inland Revenue Board of Malaysia.

You may surrender your certificate by giving a written notice to us. The balance in your PA (if any) less any surrender charge will be payable to you and the Takaful Certificate will then terminate. However, it is not advisable to hold this certificate for a short period of time in view of the high initial costs. 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.

• No Death Benefit except the Account Value shall be payable if death results directly or indirectly from suicide within twelve (12) months from the commencement date or any reinstatement date of the certificate, whichever is later.
• 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 any reinstatement date of the certificate, whichever is later.
• The Infant Shield Benefit is not payable if the covered event(s) results directly or indirectly by Pre-Existing Condition of the Covered Mother or elective termination of pregnancy other than for medical reasons.

Note: This list is non-exhaustive. Please refer to the Takaful Certificate for the full list of exclusions.