HLM Takaful i-Heritage Protector is an ordinary family takaful plan which provides increasing coverage for death, additional coverage for accidental death, additional coverage for death during Hajj & Umrah as well as Ihsan Allowance. The Account Value (value of the Participant’s Account (PA)) will be payable at the end of the coverage term if no death claim has been made.

(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 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) Qardh means an interest-free loan provided by the Takaful Operator in the event of a deficit in the PRF.

(f) Mudharabah 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 entry age is 30 days old while the maximum entry age is 70 years old, age next birthday (ANB).

There are four choices of expiry age which are 60, 70, 80 or 90 years old, age next birthday.

The minimum Basic Sum Covered for this product is RM500,000 while the maximum Basic Sum Covered is subject to underwriting.

The Basic Sum Covered (BSC) is increasing by 10% every 10 years, subject to maximum of 50% as shown in the table below:

In the event of accidental death (coverage until age 70) of the Person Covered while the certificate is still in force, 100% of Current Basic Sum Covered will be payable in addition to Death Benefit.

In the event of death of the Person Covered when performing Hajj or Umrah (coverage until age 70) while the certificate is still in force, 200% of Current Basic Sum Covered will be payable in addition to Death Benefit.

If accidental death of the Person Covered happens while performing Hajj or Umrah, only Hajj and Umrah Benefit will be payable. Accidental Death Benefit will not be payable.

The Ihsan Allowance will be payable on a monthly basis for five (5) months. The first RM2,000 will be payable upon receiving the burial/death certificate of the Person Covered. The next RM2,000 will be payable until we receive the complete claims documentation. The remaining Ihsan Allowance will be payable in one lump sum once the death claim has been approved. This benefit is aimed to reduce the financial burden for performing funeral services as it often takes time to receive a full claim payment.

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

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-Heritage Protector:

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 5 years, 10 years, 15 years, 20 years or until the end of coverage term.

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 the PA becomes insufficient to cover all charges and no payment is made by you after a grace period of 30 days, your certificate shall lapse. Please refer to the Takaful certificate for more details.

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) less surrender charge will be payable. 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) and Ihsan Allowance 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 Accidental Death Benefit is not payable for accidental death caused directly or indirectly by self-inflicted injury while sane or insane, declared or undeclared war, revolution, any warlike operations, riot and civil commotion, strikes or terrorist activities.

c) Hajj & Umrah benefit will not be paid if death results while person covered performs ziarah or travel outside of Saudi Arabia during Hajj or Umrah or not within the coverage period of forty-five (45) days for Hajj and fifteen (15) days for Umrah, or the actual travel duration, whichever is shorter.

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).