What is this product about?
HLM Takaful i-Hospital Care is a standalone hospital income benefit Takaful product which pays a daily cash allowance upon hospitalisation. If the admission is due to Cancer, the daily cash allowance will be doubled. 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?
a) Hospital Cash Benefit (other than Cancer): If the Person Covered is hospitalised for reasons other than Cancer, a guaranteed daily cash allowance will be payable.
b) Hospital Cash Benefit due to Cancer: If the Person Covered is hospitalised due to Cancer, the guaranteed daily cash allowance will be doubled. Upon claim under this benefit, Hospital Cash Benefit (other than Cancer) will not be payable.
Note: The benefit payable shall be limited to 730 days for every confinement.
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 daily cash allowance is RM100 while the maximum daily cash allowance is RM500 (subject to the income requirement), in a multiple of RM50.
Can I change my coverage subsequent to the inception of the certificate?
No, increase/decrease of daily cash allowance 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 65 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. 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?
You shall within 30 days from the date of discharge of the hospitalisation for which the claim is being made, give written notice to us stating full particulars of the hospitalisation and provide the necessary documents as required by us. 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;
whichever occurs first.
What are the major exclusions under this certificate?
No Hospital Cash Benefit shall be paid if the hospitalisation results directly or indirectly from any one (1) of the following occurences:
a) Pre-Existing Illness;
b) Specified Illnesses within 120 days from the certificate commencement date or any reinstatement date of the certificate, whichever is later;
c) Any disability (except for injury due to accident) and its signs or symptoms that appear within 30 days from the certificate commencement date or any reinstatement date of the certificate, whichever is later;
d) in respect of any period of confinement to licensed hospital for an illness or injury occurring before payment of the first Tabarru’ amount for the certificate;
e) in respect of any period of confinement to licensed hospital for an illness or injury directly or indirectly caused or accelerated by:
i) strike, riot, civil commotion, war (whether declared or not);
ii) engaging in aviation (except as an ordinary fare-paying passenger on a regular public air service);
iii) being under the influence of intoxicating liquor or any narcotic or drug;
iv) suicide, attempted suicide, intentional self-injury, dueling or the hands of justice;
vi) venereal disease;
vii) childbirth, pregnancy, miscarriage and their sequelae; or
viii) existence of Human Immunodeficiency Virus (HIV) or AIDS Related Complex;
f) treatments, period of confinement or day of confinement that are not medically necessary;
g) treatment of the gums, teeth or direct supporting structure, except where necessitated by an injury;
h) cosmetic surgery of any kind except as a result of an injury;
i) treatment arising as a result of birth defects, hereditary, congenital anomalies or related conditions;
j) convalescent care, rest care, hospice care, rehabilitation or similar treatment;
k) Person Covered committing, attempting or provoking an assault or a felony or from any violation of law by Person Covered.
Note: This list is non-exhaustive. Please refer to the Takaful Certificate for the full list of exclusions under this certificate.