What is this product about?
HLM Takaful i-Critical Care is a standalone critical illness (CI) Takaful product which covers 5 critical illnesses namely heart attack, stroke, cancer, kidney failure and coronary artery bypass surgery. This plan is guaranteed renewable for a term of 10 years.
What are the Shariah concepts applicable?
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.
What are the covers/benefits provided?
Upon diagnosis of any one of the covered diseases listed below and provided that the Person Covered survives for at least 30 days after the date of diagnosis, a guaranteed 100% of the basic sum covered will be payable in one lump sum and the certificate shall terminate:
1) Heart Attack – of specified severity.
2) Stroke – resulting in permanent neurological deficit with persisting clinical symptoms
3) Cancer – of specified severity and does not cover very early cancer
4) Kidney Failure – requiring dialysis or kidney transplant
5) Coronary Artery By-Pass Surgery
Note: Please refer to the Takaful certificate for the definition of the above covered diseases.
Will I receive a maturity benefit at the end of the coverage period?
No, this product does not provide any form of benefit at the end of the coverage period.
What are the minimum and maximum coverage?
The minimum coverage is RM50,000 while the maximum coverage is RM500,000, in a multiple of RM10,000.
Can I change my coverage subsequent to the inception of the certificate?
No, change in coverage is not allowed.
How long is the coverage of this product?
The coverage period of this product is 10 years.
Can I renew my certificate at the end of the coverage period?
Yes. This product offers an option to renew your certificate for another period of 10 years without underwriting upon expiry, subject to the maximum entry age at renewal and a higher contribution may be imposed due to increase in age.
How many times can I renew my certificate?
You may renew your certificate up to 2 times, subject to the maximum entry age at renewal.
Will my contribution remain the same upon renewal?
No, the contribution will vary based on your age at renewal.
Is there any optional rider attachable to this plan?
No. There is no rider attachable to this plan.
What is the minimum and maximum entry age for this product?
The minimum entry age is 18 years old and the maximum entry age is 60 years old, age next birthday.
Do I need to go for medical check-up?
No medical check-up is required for this product.
How much contribution do I have to pay?
The contribution that you have to pay depends on your entry age and gender. The contribution is level throughout the coverage term. Please refer to the Product Disclosure Sheet for the amount of contribution that you have to pay.
Is the contribution guaranteed during the coverage period?
The contribution is not guaranteed. We reserve the right to vary the contribution rates by giving the Participant 90 days written notice prior to the next certificate anniversary. Claim experience is one of the possible reasons for contribution adjustment. Please note that past trends of increase in the contribution rates do not necessarily reflect the future trend.
What is the contribution payment mode?
You can pay the contribution on an annual, semi-annual, quarter or monthly basis.
How can I pay the contribution?
You can pay your contribution by Credit card or Debit card via Standing Instruction (SI).
What happens if I fail to pay the contribution on time?
A grace period of 30 days from each contribution due date is allowed for the contribution payment. If contribution remains unpaid at the end of this grace period, the certificate will lapse.
Are the contributions paid eligible for income tax relief?
Yes. You may qualify for a personal tax relief for the contributions paid under “Medical and Education Insurance”, subject to the final decision of the Inland Revenue Board of Malaysia.
What are the fees and charges that I have to pay?
a) Wakalah Fees is an administration fee that is deducted from the contributions to pay for the management expenses including marketing costs.
b) Tabarru' will be deducted from the contributions and allocated into the PRF. The Tabarru' rates are non-level and are not guaranteed. We reserve the right to vary the tabarru' rates by giving the Participant 90 days written notice prior to the next certificate anniversary.
What happens if I find this product not meeting my needs after reviewing the certificate?
You may cancel your certificate by returning the certificate within a free-look period of 15 days after it has been delivered to you. We will refund the full contribution that you have paid.
What is the claim procedure?
Upon receipt of notice of diagnosis or surgery of the critical illness in writing and addressed to our head office, we will furnish to you or your representative appropriate forms for filing proof of critical illness. All claims must be submitted to us within 90 days from the date of the said diagnosis or surgery. Please refer to the Takaful certificate for more details.
Can I cancel my certificate?
Yes. You may cancel your certificate by giving a written notice to us. Please note that upon cancellation, no surrender value will be payable and you will lose the benefits under the certificate.
When will the certificate be terminated?
The certificate shall terminate immediately:-
a) upon the certificate expiry;
b) upon death of the Person Covered;
c) if the certificate lapses for a continuous period of more than one (1) year, is surrendered or is otherwise terminated in accordance
with the provisions contained in the certificate;
d) upon full payment of a valid claim.
whichever occurs first.
What are the major exclusions under this certificate?
No Critical Illness Benefit shall be paid if the covered disease results directly or indirectly from any one (1) of the following occurrences:
a) Pre-Existing Illness;
b) The signs or symptoms of the covered diseases are manifested prior to or:
i) within 60 days from the commencement date or any reinstatement date of the certificate, whichever is the latest in respect of:
• Cancer – of specified severity and does not cover very early cancer
• Coronary Artery By-Pass Surgery
• Heart Attack – of specified severity
ii) within 30 days from the commencement date or any reinstatement date of the certificate, whichever is the latest for all other covered diseases not set out in item (i) above.
c) Other than the first incidence of the covered diseases;
d) Any injury or illness caused directly or indirectly, wholly or partly, by self-inflicted injury while sane or insane, willful misuse of alcohol and/or the taking of drugs other than under the direction of a registered medical practitioner; or
e) Death of the Person Covered within thirty (30) days following the date of diagnosis of any of the covered diseases.
Note: This list is non-exhaustive. Please refer to the Takaful Certificate for the full list of exclusions under this certificate.