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    Takaful Myclick Term PDS

    Uploaded by

    Lan Mazlan
    Takaful myClick Term is a regular contribution term takaful plan that provides a lump sum payment upon death or disability during the coverage term. It does not accumulate cash value. Optional critical illness coverage provides early payment for covered illnesses. Contributions are paid until age 80, and the amount varies by factors like age and health. Fees include a 45% Wakalah fee. Key conditions include a duty of disclosure, free-look period, grace period for contributions, and exclusions for suicide within 1 year and pre-existing disabilities. The customer service unit can provide more details.

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    © All Rights Reserved
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    Takaful Myclick Term PDS

    Uploaded by

    Lan Mazlan
    96 views3 pages
    Takaful myClick Term is a regular contribution term takaful plan that provides a lump sum payment upon death or disability during the coverage term. It does not accumulate cash value. Optional critical illness coverage provides early payment for covered illnesses. Contributions are paid until age 80, and the amount varies by factors like age and health. Fees include a 45% Wakalah fee. Key conditions include a duty of disclosure, free-look period, grace period for contributions, and exclusions for suicide within 1 year and pre-existing disabilities. The customer service unit can provide more details.

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    Takaful-myClick-Term-PDS

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    Takaful myClick Term is a regular contribution term takaful plan that provides a lump sum payment upon death or disability during the coverage term. It does not accumulate cash value. Optional critical illness coverage provides early payment for covered illnesses. Contributions are paid until age 80, and the amount varies by factors like age and health. Fees include a 45% Wakalah fee. Key conditions include a duty of disclosure, free-look period, grace period for contributions, and exclusions for suicide within 1 year and pre-existing disabilities. The customer service unit can provide more details.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    96 views3 pages

    Takaful Myclick Term PDS

    Uploaded by

    Lan Mazlan
    Takaful myClick Term is a regular contribution term takaful plan that provides a lump sum payment upon death or disability during the coverage term. It does not accumulate cash value. Optional critical illness coverage provides early payment for covered illnesses. Contributions are paid until age 80, and the amount varies by factors like age and health. Fees include a 45% Wakalah fee. Key conditions include a duty of disclosure, free-look period, grace period for contributions, and exclusions for suicide within 1 year and pre-existing disabilities. The customer service unit can provide more details.

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    © All Rights Reserved
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    You are on page 1of 3

    Product Disclosure Sheet

    Takaful myClick Term

    Read this Product Disclosure Sheet before you decide to participate in Takaful myClick Term.
    Please be sure to also read the general terms and conditions.

    1. What is this plan about?


    Takaful myClick Term is a regular contribution term takaful plan which pays a lump sum benefit upon death or
    upon the occurrence of Total and Permanent Disability (TPD) during the term of the coverage. This plan does
    not accumulate any cash value.
    In addition, you may opt to include critical illness cover that provides advance payout upon the diagnosis of one
    of the 39 covered critical illnesses, subject to the waiting period. Any critical illness payout will reduce your sum
    covered for death and TPD.

    2. What are the Shariah concepts applicable?


    This plan applies the following Shariah concepts:
    a. T
    abarru’ means donation for charitable purposes. Under this plan, the participant donates a portion of the
    contribution to the Group Family Takaful Account (GFTA) to help other participants.
    b. W
    akalah refers to a contract where a party, as principal authorizes another party as his agent to perform a
    particular task on matters that may be delegated, with or without the imposition of a fee. Under this plan,
    the participant authorizes the company to manage the GFTA and in return, the company will receive a
    Wakalah fee.
    c. Q
    ard refers to a contract of lending money by a lender to a borrower where the latter is bound to repay an
    equivalent replacement amount to the lender. Under this plan, the company will lend an amount of money
    to the GFTA without interest if the GFTA is in deficit.

    3. What are the covers / benefits provided?


    This plan covers:
    a. Death or TPD due to all causes
    b. Critical illness (only if this option is selected)
    Contribution term: Up to age 80 years old next birthday

    Notes:
    Please refer to the online quote for your chosen sum covered.

    4. How much contribution do I have to pay?


    The total contribution that you have to pay and the certificate terms may vary depending on the underwriting
    requirements.
    Contribution term: Up to age 80 years old next birthday

    Notes:
    a. The contribution rate varies by attained age and gender of the person covered and sum covered.
    Additional contribution loading may be imposed depending on the occupation and health conditions of
    the person covered.
    b. The contribution rates are not guaranteed and may vary in the future. We will notify you with prior notice
    before any revision of the contribution.
    c. Please refer to the online quote for the estimated monthly contribution that you have to pay.

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    PDS/Takaful myClick Term (ENG)/V5/10-2020
    Product Disclosure Sheet
    Takaful myClick Term

    5. What are the fees and charges that I have to pay?

    Type Amount
    45% of contribution
    Wakalah Fee / Administration Fee
    (includes marketing and administration expenses)

    Note:
    This product is developed for online distribution, and may involve marketing collaboration with our business
    partners / intermediaries.

    6. What are some of the key terms and conditions that I should be aware of?
    Some of the key terms and conditions that you should be aware of are:
    a. Duty of Disclosure – Pursuant to Paragraph 5 of Schedule 9 of the Islamic Financial Services Act 2013,
    you have a duty to take reasonable care not to provide false or inaccurate information when you apply
    for this plan. Failure to do so may result in voidance of your contract of Takaful, refusal or reduction
    of your claim(s), change of the terms or termination of your contract of Takaful. The above duty of
    disclosure shall continue until the time your contract of Takaful is entered into, varied or renewed with
    us. You also have a duty to tell us immediately if at any time after your contract of Takaful has been
    entered into, varied or renewed with us any of the information provided is inaccurate or has changed.
    b. Free-Look Period – There is a free-look period of fifteen (15) calendar days from the date of delivery
    of the e-certificate for you to review and decide whether you want to continue with the plan. If you wish
    to discontinue, you may cancel the certificate and get a full refund of your contributions paid.
    c. In order to ensure continuous protection under the plan, your contribution will be automatically
    deducted from your chosen debit / credit card on a monthly basis.
    d. Grace Period – You will have thirty (30) days from the contribution due date (inclusive) to pay each
    contribution due. If the contribution is not paid at the end of the grace period, your certificate will lapse.
    e. Reinstatement – If your certificate has lapsed due to non-payment of contribution, you may reinstate
    it at any time within one (1) year from the lapse date, subject to underwriting. Terms and conditions
    apply.
    f. Waiting period – The eligibility for critical illness benefit will only start thirty (30) days from its effective
    date of the cover for all critical illnesses other than cancer. For cancer, a 60-day waiting period shall
    apply.
    g. You must nominate a nominee and ensure that your nominee is aware of your participation in this plan.
    h. You can only be covered in one Takaful myClick Term plan.

    Note:
    The above list is non-exhaustive. Please refer to the Certificate Wording for the full list of terms and conditions
    under this plan.

    7. What are the major exclusions under this plan?


    This plan does not cover:
    a. Death due to suicide, while sane or insane, within the first (1) year from the effective date or
    any reinstatement date, whichever is the later;
    b. TPD which has existed on the effective date or any reinstatement date, whichever is the later; or
    c. TPD due to attempted suicide or self-inflicted injuries, while sane or insane.

    Note:
    This above list is non-exhaustive. Please refer to the Certificate Wording for the full list of exclusions under this
    plan.

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    PDS/Takaful myClick Term (ENG)/V5/10-2020
    Product Disclosure Sheet
    Takaful myClick Term

    8. Can I cancel my certificate?


    You may cancel your certificate at any time after the fifteen (15) calendar days’ free-look period. There will be
    no refund of contributions in the event of cancellation after the free-look period. Your coverage will cease on
    the next contribution due date where you do not require to make further contributions.

    9. What do I need to do if there are changes to my contact / personal details?


    It is important that you update in the myTakaful Customer portal or inform us of any changes in your contact
    details to ensure that all correspondences reach you in a timely manner.

    10. Where can I get further information?


    Should you require additional information about family takaful, please refer to the insuranceinfo booklet on
    ‘Family Takaful’ available at all our branches or visit www.insuranceinfo.com.my/.
    If you would like to know more about this plan, please contact us at:

    Customer Service Unit (CSU)
    Syarikat Takaful Malaysia Keluarga Berhad [198401019089 (131646-K)]
    14th Floor, Annexe Block,
    Menara Takaful Malaysia,
    No. 4, Jalan Sultan Sulaiman,
    50000 Kuala Lumpur
    P.O. Box 11483, 50746 Kuala Lumpur.
    Tel: 1-300 88 252 385
    E-mail: csu@takaful-malaysia.com.my

    11. Other types of similar cover available:


    Please refer to our website at https://online.takaful-malaysia.com.my/.

    IMPORTANT NOTE:
    PARTICIPATING IN A FAMILY TAKAFUL PLAN IS A LONG-TERM FINANCIAL COMMITMENT. YOU
    SHOULD SATISFY YOURSELF THAT THIS PLAN WILL BEST SERVE YOUR NEEDS. YOU SHOULD READ
    AND UNDERSTAND THIS PLAN AND CONTACT US DIRECTLY FOR MORE INFORMATION.

    Syarikat Takaful Malaysia Keluarga Berhad is licensed under the Islamic Financial Services Act 2013 and regulated
    by Bank Negara Malaysia.
    The information provided in this disclosure sheet is valid as at October 2020.

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    PDS/Takaful myClick Term (ENG)/V5/10-2020

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