Smart Educate Saver
As parents, many of us wonder what our little one is going to grow up to be. A doctor? A lawyer, perhaps? In any career, a good education goes a long way towards helping your child enjoy a smoother, more successful journey through life. With the rising cost of education, it’s never too soon to prepare for the day you send your little one to college.
Smart Educate Saver opens the door for your child to enjoy better education opportunities. An investment linked insurance plan, it grows your child’s education fund with additional investment allocations – while also providing protection against the unexpected. You can start with as little as RM100 a month, making it an affordable education plan to secure your child’s future.
Grow your child’s education fund with additional allocation to unit funds
See your child’s education fund grow with an extra investment allocation. An Additional Units Allocation of 2% will be added to your premium allocation rate for payment of premium for every 3rd policy year to boost the investment value of your policy. For investment purposes, your premium is segregated into Insurance Premium and Balancer.
The Balancer portion is allocated to unit funds at the following rates:
Policy Year Premium Allocation Rate (%)
1st and 2rd 95%
3rd 95% plus 2% Additional Units Allocation
4th and 5th 95%
6th 95% plus 2% Additional Units Allocation
Thereafter 95% plus 2% Additional Units Allocation every subsequent
3rd Policy Year until the end of Policy Term
Boost your policy’s investment value any time you wish
To better prepare against the rising cost of education, you can also opt to boost the investment value of your policy via single premium top-ups. With a minimum of RM1,000 per single premium top-up, we will direct 95% of it to unit funds to enhance your potential returns.
Plan ahead with flexible coverage terms
Depending on your child’s age, you can choose the appropriate policy term from 8 to 24 years, so that the education fund matures when it’s time for your child to go to college. At the end of your policy term, you will receive the Total Investment Value (TIV) of the plan to fund your child’s education.
Be protected against life’s uncertainties
Should death or Total and Permanent Disability (TPD) occur, the plan provides financial support with the payment of the Basic Sum Assured, along with the Total Investment Value (TIV) in accordance with the provisions of the policy.
Choose your own investment funds
Smart Educate Saver allows you to choose from a wide range of professionally managed investment funds to suit your risk appetite and investment style, as well as the flexibility to switch funds.
Lion Asia Pac Fund
Seeks to provide long-term capital appreciation through investment in the equities markets of the Asia Pacific region (except Japan)
Lion Enhanced Equity Fund
Invests primarily in equities in Malaysia, which may be volatile in the short term. It may also partially invest in Singapore and Hong Kong if and when necessary, to enhance the fund’s returns
Lion Strategic Fund
Invests in a mixture of equities, fixed income securities and money market instruments, with a moderate level of volatility
Lion Balanced Fund
Invests in a mixture of equities and fixed income securities, with a moderate level of volatility
Lion Fixed Income Fund
Invests in fixed income securities like government and corporate bonds with the balance in cash and cash equivalents, with low levels of volatility
Lion Progressive Fund
Invests in a mixture of equities and fixed income securities, with a moderate to high level of volatility
Dana Sejati / Dana Gemilang
Invest in Shariah-approved securities
Lion UK-i Fund / Lion US-i Fund / Lion AU-i Fund
Seeks to provide medium to long-term capital appreciation through investment in the equity indices of the UK, US and Australia stock markets respectively
Tax Benefit
Benefits received from Smart Educate Saver are generally non-taxable and premiums paid may qualify for tax relief. However, tax benefits are subject to the Malaysian Income Tax Act, 1967, and final decision of the Inland Revenue Board.
Frequently Asked Questions
Q : How do I start?
A : You can start investing in Smart Educate Saver with as little as RM1,200 a year or RM100 a month.
Q : Who can apply?
A : Any parent / legal guardian of a child between 30 days attained age and 17 years next birthday can apply for Smart Educate Saver.
Q : What are the minimum and maximum policy terms under this policy?
A : The minimum policy term allowable is 8 years and the maximum policy term is 24 years.
Q : What are some of the exclusions under this policy?
A : No benefit is payable under the following circumstances:
- Pre-existing condition
- Death during the first policy year as a result of suicide, while sane or insane
- Total and Permanent Disability (TPD) resulting from self-inflicted injuries, while sane or insane
Q : How do I make my payment?
A : You can pay by credit card, banker’s order, GIRO, cheque or cash. You have the flexibility to pay your premium annually, half-yearly, quarterly or even monthly (by credit card, banker’s order or GIRO).
Q : What are the current fees and charges?
A : – Insurance charges: Applicable to the sum assured, and vary according to age, sex, smoking habits, occupation and health condition.
- Monthly Policy Fee: RM6.
- Fund Management Charge: 0.50% – 1.50% per annum depending on your choice of fund.
Important Notices
Smart Educate Saver is a regular premium investment linked insurance policy. This plan is an insurance product that is tied to the performance of the underlying assets, and is not a pure investment product such as unit trusts. Premiums are payable for the whole term of the policy, or until death or Total and Permanent Disability (TPD), whichever comes first. You should satisfy yourself that this plan will best serve your needs and that the premiums payable under the policy is an amount you can afford.
A free-look period of 15 days is given for you to review the suitability of the plan. If the policy is returned to the Company during this period, the Company shall refund an amount equal to the sum of:
a) total investment values of the policy based on the Net Asset Value at the next valuation date; and
b) the investment values of the units which have been cancelled to pay for insurance charges and policy fee; and
c) the amount of premiums that have not been allocated; minus the expenses incurred for medical examination, if any.
Net Asset Value is the single price at which the policy owner buys the units in a unit fund and sells the units back to the unit fund. The minimum basic premium allowable for the policy is RM1,200 a year. The premium paid is segregated into Insurance Premium and Balancer (regular premium in excess of the Insurance Premium).
In cases where the purchase involves a premium of a sizeable amount i.e. RM5,000 and more, the prospect should consider purchasing a single premium investment linked insurance policy as single premium plans offer better allocation rates for investment. However, please take note that single premium plans may not offer as much insurance protection as regular premium plans and may have less riders/supplementary benefits available.
You may stop paying the premiums and still enjoy protection as long as there is a sufficient total investment value to pay for the insurance charges, policy fee and supplementary benefit premiums, where applicable. However, there is a possibility of the policy lapsing when the required charges, including rider charges, exceed the value of the fund units available. Purchasing too many unit-deduction riders may deplete the fund units.
Buying an investment-linked insurance policy is a long term commitment. An early termination of the policy involves high costs and the withdrawal value is dependent on prevailing market value of the underlying assets of the unit fund. Therefore, the withdrawal value may be less than the total premiums paid. The policy value may rise or fall, based on the underlying performance of the funds. The performance of the funds is not guaranteed. The investment risk under the policy will be borne solely by the policy owner. Past actual performance is not a guide to future performance, which may be different.
Any amount of the premium that has not been allocated to purchase units is used to meet the payment of commissions to intermediaries and general expenses of the Company. The Company reserves the right, in circumstances it considers exceptional, to suspend issuance or redemption of units
Saturday, April 23, 2011
Smart Protect Essential Insurance 2
Smart Protect Essential Insurance 2
Smart Protect Essential Insurance 2 is an affordable plan that allows you to work towards your goals and live the life you want while providing you with a personal safety net. With Smart Protect Essential Insurance 2, you will enjoy comprehensive coverage against unexpected events and you can further enhance your protection with additional hospitalization and medical benefits.
It makes your money work for you
Smart Protect Essential Insurance 2 is an investment-linked insurance plan that adapts to your lifestyle. It’s easy to get into – starting with just RM100 per month, you’ll receive life coverage and an investment allocation that increases over time – bringing your goals closer to reality with every passing day. The due insurance premiums paid are allocated to the unit funds at the following rates:
Policy Year 1 – 2 3 – 4 5 – 6 7 & above
Premium Allocation Rate 43% 76% 85% 100%
1% more on your sum assured every year throughout your coverage years
Smart Protect Essential Insurance 2 ensures your loved ones will not be financially burdened should the unexpected occur. With a sum assured that grows 1% every year throughout your coverage years, they can go on living with added peace of mind.
An example of how this works
Josh Lim is a 25-year-old male who buys Smart Protect Essential Insurance 2. Let’s assume he is insured for RM100,000. If he lives till age of 75, he will accumulate 1% more per year on his sum assured for 50 years.
1% x RM100,000 x 50 years = RM50,000 more.
That means his loved ones will receive a total of RM150,000.
It provides financial protection against the unexpected
Smart Protect Essential Insurance 2 is built on a foundation of protection, to ensure you and your loved ones come first if the worst should happen. In the case of death, or should you be afflicted with Total and Permanent Disability (TPD), the basic sum assured and your total investment value will be paid out in full, or in accordance to the TPD provisions of the policy, ensuring your loved ones receive the financial resources they’ll need to carry on.
It lets you choose your own protection and investment level
You may start with just a little, but as your financial options grow wider, you can vary the protection and investment levels according to your later needs and goals. Available to you is an option to boost the investment value of your policy via single premium top-ups. A minimum amount of RM1,000 for a single premium top-up will effectively provide a fresh injection of 95% of the paid premium to unit funds, bolstering your investment value and potential returns.
It lets you pick your own funds
Whatever best suits you at any time are yours to pick and invest in. Our range of professionally managed funds will cater to your risk appetite and investment style. If you ever change your mind, simply make a new selection.
It offers extra protection
You can enjoy additional peace of mind by attaching comprehensive riders to your Smart Protect Essential Insurance 2:
- Smart Medic
Provides medical protection against unexpected emergencies
- Critical Illness Benefit
Secures your finances should a critical illness occur
- IL Comprehensive Accident Benefits Xtra Rider
Covers against death and injuries due to accidents
- IL Hospitalization Benefits Rider
Provides daily cash income should you be hospitalized
- IL Waiver of Premium Plus Rider
Waives premiums should disability or critical illness occur to the life assured
- IL LadyCare / IL LadyCare Advantage
Provides protection against female-linked illnesses and coverage for maternity-related issues
It gives you tax relief
Benefits received from Smart Protect Essential Insurance 2 are generally non-taxable and premiums paid may qualify for tax relief.
Frequently Asked Questions
Q : Who can apply?
A : Anyone between 30 days attained age and 70 years next birthday can apply for Smart Protect Essential Insurance 2.
Q : What are some of the exclusions under this policy?
A : No benefit is payable under the following circumstances:
- Pre-existing condition
- Death during the first policy year as a result of suicide, while sane or insane
- Total and Permanent Disability (TPD) resulting from self-inflicted injuries, while sane or insane
Q : How do I make my payment?
A : You can pay by credit card, banker’s order, GIRO, cheque or cash. You have the flexibility to pay your premium annually, half-yearly, quarterly or even monthly (by credit card, banker’s order or GIRO).
Q : What are the current fees and charges?
A : – Insurance charges: Applicable to the sum assured, vary according to age, sex, smoking habits, occupation and health condition.
- Monthly Policy Fee: RM6.
- Fund Management Charge: 0.5% – 1.50% per annum depending on your choice of fund.
Important Notices
Smart Protect Essential Insurance 2 is a regular premium investment-linked insurance policy. This plan is an insurance product that is tied to the performance of the underlying assets, and is not a pure investment product such as unit trusts. Premiums are payable for the whole term of the policy, or until death or Total and Permanent Disability (TPD), whichever comes first. You should satisfy yourself that this plan will best serve your needs and that the premiums payable under the policy is an amount you can afford.
A free-look period of 15 days is given for you to review the suitability of the plan. If the policy is returned to the Company during this period, the Company shall refund an amount equal to the sum of
- Total investment values of the policy based on the Net Asset Value at the next valuation date; and
- The investment values of the units which have been cancelled to pay for insurance charges and policy fee; and
- The amount of premiums that have not been allocated; minus the expenses incurred for medical examination, if any.
Net Asset Value is the single price at which the policy owner buys the units in a unit fund and sells the units back to the unit fund. The minimum basic premium allowable for the policy is RM1,200 a year. The premium may be segregated into Insurance Premium and Balancer (regular premium in excess of the Insurance Premium) if any, based on the premium invested for the policy. In cases where the purchase involves a premium of a sizeable amount i.e. RM5,000 and more, the prospect should consider purchasing a single premium investment-linked insurance policy as single premium plans offer better allocation rates for investment. However, please take note that single premium plans may not offer as much insurance protection as regular premium plans and may have less riders/supplementary benefits available.
You may stop paying the premiums and still enjoy protection as long as there is a sufficient total investment value to pay for the insurance charges, policy fee and supplementary benefit premiums, where applicable. However, there is a possibility of the policy lapsing when the required charges, including rider charges, exceed the value of the fund units available. Purchasing too many unit-deduction riders may deplete the fund units.
Buying an investment-linked insurance policy is a long-term commitment. An early termination of the policy involves high costs and the withdrawal value is dependent on prevailing market value of the underlying assets of the unit fund. Therefore, the withdrawal value may be less than the total premiums paid. The policy value may rise or fall, based on the underlying performance of the funds. The performance of the funds is not guaranteed. The investment risk under the policy will be borne solely by the policy owner. Past actual performance is not a guide to future performance, which may be different. Any amount of the premium that has not been allocated to purchase is used to meet the payment of commissions to intermediaries and general expenses of the Company. The Company reserves the right, in circumstances it considers exceptional, to suspend issuance or redemption of units.
Smart Protect Essential Insurance 2 is an affordable plan that allows you to work towards your goals and live the life you want while providing you with a personal safety net. With Smart Protect Essential Insurance 2, you will enjoy comprehensive coverage against unexpected events and you can further enhance your protection with additional hospitalization and medical benefits.
It makes your money work for you
Smart Protect Essential Insurance 2 is an investment-linked insurance plan that adapts to your lifestyle. It’s easy to get into – starting with just RM100 per month, you’ll receive life coverage and an investment allocation that increases over time – bringing your goals closer to reality with every passing day. The due insurance premiums paid are allocated to the unit funds at the following rates:
Policy Year 1 – 2 3 – 4 5 – 6 7 & above
Premium Allocation Rate 43% 76% 85% 100%
1% more on your sum assured every year throughout your coverage years
Smart Protect Essential Insurance 2 ensures your loved ones will not be financially burdened should the unexpected occur. With a sum assured that grows 1% every year throughout your coverage years, they can go on living with added peace of mind.
An example of how this works
Josh Lim is a 25-year-old male who buys Smart Protect Essential Insurance 2. Let’s assume he is insured for RM100,000. If he lives till age of 75, he will accumulate 1% more per year on his sum assured for 50 years.
1% x RM100,000 x 50 years = RM50,000 more.
That means his loved ones will receive a total of RM150,000.
It provides financial protection against the unexpected
Smart Protect Essential Insurance 2 is built on a foundation of protection, to ensure you and your loved ones come first if the worst should happen. In the case of death, or should you be afflicted with Total and Permanent Disability (TPD), the basic sum assured and your total investment value will be paid out in full, or in accordance to the TPD provisions of the policy, ensuring your loved ones receive the financial resources they’ll need to carry on.
It lets you choose your own protection and investment level
You may start with just a little, but as your financial options grow wider, you can vary the protection and investment levels according to your later needs and goals. Available to you is an option to boost the investment value of your policy via single premium top-ups. A minimum amount of RM1,000 for a single premium top-up will effectively provide a fresh injection of 95% of the paid premium to unit funds, bolstering your investment value and potential returns.
It lets you pick your own funds
Whatever best suits you at any time are yours to pick and invest in. Our range of professionally managed funds will cater to your risk appetite and investment style. If you ever change your mind, simply make a new selection.
It offers extra protection
You can enjoy additional peace of mind by attaching comprehensive riders to your Smart Protect Essential Insurance 2:
- Smart Medic
Provides medical protection against unexpected emergencies
- Critical Illness Benefit
Secures your finances should a critical illness occur
- IL Comprehensive Accident Benefits Xtra Rider
Covers against death and injuries due to accidents
- IL Hospitalization Benefits Rider
Provides daily cash income should you be hospitalized
- IL Waiver of Premium Plus Rider
Waives premiums should disability or critical illness occur to the life assured
- IL LadyCare / IL LadyCare Advantage
Provides protection against female-linked illnesses and coverage for maternity-related issues
It gives you tax relief
Benefits received from Smart Protect Essential Insurance 2 are generally non-taxable and premiums paid may qualify for tax relief.
Frequently Asked Questions
Q : Who can apply?
A : Anyone between 30 days attained age and 70 years next birthday can apply for Smart Protect Essential Insurance 2.
Q : What are some of the exclusions under this policy?
A : No benefit is payable under the following circumstances:
- Pre-existing condition
- Death during the first policy year as a result of suicide, while sane or insane
- Total and Permanent Disability (TPD) resulting from self-inflicted injuries, while sane or insane
Q : How do I make my payment?
A : You can pay by credit card, banker’s order, GIRO, cheque or cash. You have the flexibility to pay your premium annually, half-yearly, quarterly or even monthly (by credit card, banker’s order or GIRO).
Q : What are the current fees and charges?
A : – Insurance charges: Applicable to the sum assured, vary according to age, sex, smoking habits, occupation and health condition.
- Monthly Policy Fee: RM6.
- Fund Management Charge: 0.5% – 1.50% per annum depending on your choice of fund.
Important Notices
Smart Protect Essential Insurance 2 is a regular premium investment-linked insurance policy. This plan is an insurance product that is tied to the performance of the underlying assets, and is not a pure investment product such as unit trusts. Premiums are payable for the whole term of the policy, or until death or Total and Permanent Disability (TPD), whichever comes first. You should satisfy yourself that this plan will best serve your needs and that the premiums payable under the policy is an amount you can afford.
A free-look period of 15 days is given for you to review the suitability of the plan. If the policy is returned to the Company during this period, the Company shall refund an amount equal to the sum of
- Total investment values of the policy based on the Net Asset Value at the next valuation date; and
- The investment values of the units which have been cancelled to pay for insurance charges and policy fee; and
- The amount of premiums that have not been allocated; minus the expenses incurred for medical examination, if any.
Net Asset Value is the single price at which the policy owner buys the units in a unit fund and sells the units back to the unit fund. The minimum basic premium allowable for the policy is RM1,200 a year. The premium may be segregated into Insurance Premium and Balancer (regular premium in excess of the Insurance Premium) if any, based on the premium invested for the policy. In cases where the purchase involves a premium of a sizeable amount i.e. RM5,000 and more, the prospect should consider purchasing a single premium investment-linked insurance policy as single premium plans offer better allocation rates for investment. However, please take note that single premium plans may not offer as much insurance protection as regular premium plans and may have less riders/supplementary benefits available.
You may stop paying the premiums and still enjoy protection as long as there is a sufficient total investment value to pay for the insurance charges, policy fee and supplementary benefit premiums, where applicable. However, there is a possibility of the policy lapsing when the required charges, including rider charges, exceed the value of the fund units available. Purchasing too many unit-deduction riders may deplete the fund units.
Buying an investment-linked insurance policy is a long-term commitment. An early termination of the policy involves high costs and the withdrawal value is dependent on prevailing market value of the underlying assets of the unit fund. Therefore, the withdrawal value may be less than the total premiums paid. The policy value may rise or fall, based on the underlying performance of the funds. The performance of the funds is not guaranteed. The investment risk under the policy will be borne solely by the policy owner. Past actual performance is not a guide to future performance, which may be different. Any amount of the premium that has not been allocated to purchase is used to meet the payment of commissions to intermediaries and general expenses of the Company. The Company reserves the right, in circumstances it considers exceptional, to suspend issuance or redemption of units.
Great Income Enhancer
Great Income Enhancer
Enjoy the advantages of Great Income Enhancer, a plan that helps you grow your savings and meet your financial commitments in life. This plan not only gives you life protection, it also comes with cash payments which you will receive until policy maturity.
Great Income Enhancer is a regular premium limited pay endowment plan that provides protection against Death and Total and Permanent Disability (TPD).
Limited Payment, Extended Protection
With Great Income Enhancer, you only need to commit 15 or 20 years of premium payment, while enjoying life protection until age 70 next birthday.
Extra Income Every Year
Great Income Enhancer ensures that you enjoy a continuous flow of supplementary income. You will receive a yearly guaranteed survival benefit payment from the end of the 10th year onwards with a 15-year premium payment plan or from the end of the 15th year onwards with a 20-year premium payment plan. Here’s an illustration of how your guaranteed survival benefit is paid over time:
Premium Payment Term
Policy Year 15 Years 20 Years
% of Basic Sum Assured
1 – 9 - -
10 – 14 16.5% -
15 – 19 7.0% 14.0%
20 – 24 4.0% 7.0%
25 – maturity 4.0% 4.0%
Example:
Mr. Eddy, aged 28 next birthday, purchasing Great Income Enhancer, with 15 years of premium payment, will receive a guaranteed survival benefit of up to 209.5% of basic sum assured by the end of maturity.
Cash bonus
On top of the guaranteed survival benefit, Great Income Enhancer also provides a yearly non-guaranteed cash bonus which starts from the end of the first policy year. This gives you additional financial resources that will come in handy at a time when you might welcome the extra income.
Up to 50% Additional Sum Assured
In the event of unexpected Death or TPD (before age 65 years next birthday), an additional sum assured will be paid out according to the table below, ensuring your loved ones will be able to carry on with added peace of mind:
Policy Year Additional Sum Assured
(% of Basic Sum Assured)
1 – 2 -
3 – 4 10%
5 – 6 20%
7 – 8 30%
9 – 10 40%
11 - maturity 50%
This means, after the 10th Policy Year, the death benefit is 150% of the original Basic Sum Assured.
Flexibility for added protection
To further enhance your protection, you can choose to attach the following riders to your Great Income Enhancer:
- Waiver of Premium on DD Rider 2
Waives premium in the event of Dread Disease of the Life Assured
- Payer Benefit Rider Plus 2
Waives premium in the event of Death, TPD or Dread Disease of the Payer
Maturity benefit
Upon maturity of Great Income Enhancer at age 70 years next birthday, you will receive a lump sum payment that comprises 150% of the original basic sum assured, accumulated survival benefit (if any), accumulated cash bonus (if any), final year survival benefit, and terminal bonus on maturity (if any).
Death and TPD Benefits
Upon Death or TPD (before age 65 years next birthday), the sum assured, accumulated survival benefit (if any), accumulated cash bonus (if any) and terminal bonus (if any) will be paid out in one lump sum, or according to the TPD provisions of the policy.
Frequently Asked Questions
Q : Who can apply for Great Income Enhancer?
A : Anyone between 30 days attained age and 45 years next birthday can apply for Great Income Enhancer.
Q : What are the minimum and maximum sums assured?
A : The minimum sum assured is RM25,000 and the maximum sum assured is subject to underwriting
limitations at the time of purchase.
Q : What are the premium payment term options available for Great Income Enhancer?
A : You have the flexibility to choose from 2 premium payment term options – 15 years or 20 years.
Q : What are some of the exclusions for this plan?
A : No benefit is payable under the following circumstances:
- Death during the first policy year as a result of suicide, while sane or insane.
- TPD resulting from self-inflicted injuries, while sane or insane.
Q : How do I pay my premiums?
A : You can pay by credit card, banker’s order, GIRO, cheque or cash. You have the flexibility to pay your premium annually, half-yearly, quarterly or even monthly (by credit card, banker’s order or GIRO).
Q : Will I be entitled to tax benefits?
A : Benefits received from Great Income Enhancer are generally non-taxable and premiums paid may qualify for tax relief.
Important Notices
Great Income Enhancer is a limited pay participating endowment plan with guaranteed survival benefit and non-guaranteed cash bonuses. Premiums are payable until the end of the premium payment term, or until Death or TPD, whichever occurs first. The premium rates for this plan are guaranteed. The plan will mature at age 70 years next birthday. You should satisfy yourself that this plan will best serve your needs and that the premium payable under the policy is an amount you can afford.
A “free-look period” of 15 days is given for you to review the suitability of the plan. If the policy is returned to the Company during this period, the full premium would be refunded to the policy owner minus the expenses incurred for medical examination, if any. If you switch-over your policy from one company to another or if you exchange your current policy with another policy within the same company, you may be required to submit an application where the acceptance of your proposal will be subjected to the terms and conditions to be imposed at the time of policy switching or replacement.
The cash bonus and terminal bonus are not guaranteed. The actual bonuses that would be declared may be more or less, depending on the operating and investment results experienced by the Company.
The policy may not have a guaranteed minimum cash value on termination until after you have paid premiums for three years. If you surrender your policy early you may get back less than the amount you have paid. If you stop paying premiums before the end of the premium payment term, an automatic premium loan will be effected under your policy to pay future premium so long as the cash value is more than the total indebtedness. Cessation of premium payment before the end of the premium payment term may lead to early termination of coverage.
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Enjoy the advantages of Great Income Enhancer, a plan that helps you grow your savings and meet your financial commitments in life. This plan not only gives you life protection, it also comes with cash payments which you will receive until policy maturity.
Great Income Enhancer is a regular premium limited pay endowment plan that provides protection against Death and Total and Permanent Disability (TPD).
Limited Payment, Extended Protection
With Great Income Enhancer, you only need to commit 15 or 20 years of premium payment, while enjoying life protection until age 70 next birthday.
Extra Income Every Year
Great Income Enhancer ensures that you enjoy a continuous flow of supplementary income. You will receive a yearly guaranteed survival benefit payment from the end of the 10th year onwards with a 15-year premium payment plan or from the end of the 15th year onwards with a 20-year premium payment plan. Here’s an illustration of how your guaranteed survival benefit is paid over time:
Premium Payment Term
Policy Year 15 Years 20 Years
% of Basic Sum Assured
1 – 9 - -
10 – 14 16.5% -
15 – 19 7.0% 14.0%
20 – 24 4.0% 7.0%
25 – maturity 4.0% 4.0%
Example:
Mr. Eddy, aged 28 next birthday, purchasing Great Income Enhancer, with 15 years of premium payment, will receive a guaranteed survival benefit of up to 209.5% of basic sum assured by the end of maturity.
Cash bonus
On top of the guaranteed survival benefit, Great Income Enhancer also provides a yearly non-guaranteed cash bonus which starts from the end of the first policy year. This gives you additional financial resources that will come in handy at a time when you might welcome the extra income.
Up to 50% Additional Sum Assured
In the event of unexpected Death or TPD (before age 65 years next birthday), an additional sum assured will be paid out according to the table below, ensuring your loved ones will be able to carry on with added peace of mind:
Policy Year Additional Sum Assured
(% of Basic Sum Assured)
1 – 2 -
3 – 4 10%
5 – 6 20%
7 – 8 30%
9 – 10 40%
11 - maturity 50%
This means, after the 10th Policy Year, the death benefit is 150% of the original Basic Sum Assured.
Flexibility for added protection
To further enhance your protection, you can choose to attach the following riders to your Great Income Enhancer:
- Waiver of Premium on DD Rider 2
Waives premium in the event of Dread Disease of the Life Assured
- Payer Benefit Rider Plus 2
Waives premium in the event of Death, TPD or Dread Disease of the Payer
Maturity benefit
Upon maturity of Great Income Enhancer at age 70 years next birthday, you will receive a lump sum payment that comprises 150% of the original basic sum assured, accumulated survival benefit (if any), accumulated cash bonus (if any), final year survival benefit, and terminal bonus on maturity (if any).
Death and TPD Benefits
Upon Death or TPD (before age 65 years next birthday), the sum assured, accumulated survival benefit (if any), accumulated cash bonus (if any) and terminal bonus (if any) will be paid out in one lump sum, or according to the TPD provisions of the policy.
Frequently Asked Questions
Q : Who can apply for Great Income Enhancer?
A : Anyone between 30 days attained age and 45 years next birthday can apply for Great Income Enhancer.
Q : What are the minimum and maximum sums assured?
A : The minimum sum assured is RM25,000 and the maximum sum assured is subject to underwriting
limitations at the time of purchase.
Q : What are the premium payment term options available for Great Income Enhancer?
A : You have the flexibility to choose from 2 premium payment term options – 15 years or 20 years.
Q : What are some of the exclusions for this plan?
A : No benefit is payable under the following circumstances:
- Death during the first policy year as a result of suicide, while sane or insane.
- TPD resulting from self-inflicted injuries, while sane or insane.
Q : How do I pay my premiums?
A : You can pay by credit card, banker’s order, GIRO, cheque or cash. You have the flexibility to pay your premium annually, half-yearly, quarterly or even monthly (by credit card, banker’s order or GIRO).
Q : Will I be entitled to tax benefits?
A : Benefits received from Great Income Enhancer are generally non-taxable and premiums paid may qualify for tax relief.
Important Notices
Great Income Enhancer is a limited pay participating endowment plan with guaranteed survival benefit and non-guaranteed cash bonuses. Premiums are payable until the end of the premium payment term, or until Death or TPD, whichever occurs first. The premium rates for this plan are guaranteed. The plan will mature at age 70 years next birthday. You should satisfy yourself that this plan will best serve your needs and that the premium payable under the policy is an amount you can afford.
A “free-look period” of 15 days is given for you to review the suitability of the plan. If the policy is returned to the Company during this period, the full premium would be refunded to the policy owner minus the expenses incurred for medical examination, if any. If you switch-over your policy from one company to another or if you exchange your current policy with another policy within the same company, you may be required to submit an application where the acceptance of your proposal will be subjected to the terms and conditions to be imposed at the time of policy switching or replacement.
The cash bonus and terminal bonus are not guaranteed. The actual bonuses that would be declared may be more or less, depending on the operating and investment results experienced by the Company.
The policy may not have a guaranteed minimum cash value on termination until after you have paid premiums for three years. If you surrender your policy early you may get back less than the amount you have paid. If you stop paying premiums before the end of the premium payment term, an automatic premium loan will be effected under your policy to pay future premium so long as the cash value is more than the total indebtedness. Cessation of premium payment before the end of the premium payment term may lead to early termination of coverage.
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