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HLM Takaful i-Heritage Protector

Build A Legacy that Lives On

 

Imagine owning a takaful plan that provides an affluent legacy for your family as well as have an option to cover your mortgage financing.

HLM Takaful i-Heritage Protector is a unique wealth protection plan that gives you the flexibility in doing both!

You also have the options in choosing your:

  1. Coverage term;
  2. Coverage type;
  3. Payment term;
  4. Basic sum covered; and
  5. Optional riders

Participate in HLM Takaful i-Heritage Protector plan today and see your basic sum covered increase automatically during the coverage term.

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Increasing Death Benefit

The coverage increases by 10% every 10 years, subject to a maximum of 50% of the Basic Sum Covered.

 

Certificate Year Current Basic Sum Covered (CBSC)
1 to 10 100% of Basic Sum Covered (BSC)
11 to 20 110% of Basic Sum Covered (BSC)
21 to 30 120% of Basic Sum Covered (BSC)
31 to 40 130% of Basic Sum Covered (BSC)
41 to 50 140% of Basic Sum Covered (BSC)
51 & onwards 150% of Basic Sum Covered (BSC)

 

You may also choose the type of coverage depending on your financial needs:
Face Plus: CBSC and balance in the Participant’s Account (if any); OR
Level Face: CBSC or balance in the Participant’s Account (if any), whichever is higher

 

Accidental Death Benefit

Additional 100% of CBSC will be payable if death occurs due to an accidental cause. This coverage is up to 70 years old.

 

Hajj & Umrah Benefit1

Additional 200% of CBSC will be payable if death happens whilst performing Hajj and Umrah. This coverage is up to 70 years old and only applicable for Muslims.

 

Ihsan Allowance

While waiting for the Death Benefit to be payable, RM2,000 monthly allowance will be payable for 5 months to family members. The first payment will be payable after we have received the burial or death certificate.

 

Maturity Benefit

If no death claim is made prior to the maturity of the certificate, the balance in the Participant’s Account (if any) will be payable.

 

Alternative Protection on Your Mortgage Financing

HLM Takaful i-Heritage Protector can be another option for your mortgage protection. Instead of paying your current mortgage protection in a lump sum payment, we provide you the solution to spread your single contribution into a regular contribution payment term.

 

Value-Added Services

You may choose the services below where the amount will be deducted from the payable Death Benefit under your certificate and paid to the service provider appointed by us.

 

Service Amount2 (RM) Description
Hajj by Proxy
(for Muslims)
3,500 Performing an obligatory Hajj (Pilgrimage to Mecca) on behalf of those who are unable to perform Hajj by themselves due to sickness, old age or death.
Waqf 500 A voluntary, permanent, irrevocable dedication of a portion of one’s wealth for religious or charitable purposes.
Qurban
(for Muslims)
750 Carrying out “Ibadah Qurban” inclusive of purchasing and slaughtering livestock such as goat, sheep, cattle or camel, on your behalf.

 

1 If accidental death happens while performing Hajj & Umrah, only the Hajj & Umrah Benefit will be payable. Accidental Death Benefit will not be payable.

2 Subject to prevailing market price in the year service is carried out.

 
What is HLM Takaful i-Heritage Protector?

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.

 
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.

(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).

 
What is the minimum and maximum entry age for this product?

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

 
What is the expiry age of this product?

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

 
What are the minimum and maximum coverage?

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

 
What will be payable in the event of death due to non-accidental causes?

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

 

Certificate Year Current Basic Sum Covered (CBSC)
1st - 10th 100% BSC
11th to 20th 110% BSC
21st to 30th 120% BSC
31st to 40th 130% BSC
41st to 50th 140% BSC
51st & onwards 150% BSC

 

In the event of death of the Person Covered prior to maturity and while the certificate is still in force, the Death Benefit payable is subject to the chosen type of coverage:
Face Plus: Total of Current Basic Sum Covered AND Participant’s Account value (if any)
Level Face: Higher of Current Basic Sum Covered OR Participant’s Account value (if any)

 

 
What happens if death occurs due to accidental causes?

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.

 
What happens if death occurs while performing Hajj or Umrah?

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.

 
What happens if death occurs due to accidental causes while performing Hajj or Umrah?

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.

 
How does the Ihsan Allowance work?

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.

 
What will I get upon maturity of the certificate?

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

 
Can I change my coverage subsequent to the inception of the certificate?

Yes, change in coverage is allowed subject to the rules and procedures at the time of application.

 
What are the riders available to enhance my protection?

You may choose to attach any of the following riders to HLM Takaful i-Heritage Protector:

 

Rider Brief Description
Disability Lump Sum Rider In the event the person covered is diagnosed to have suffered from Total and Permanent Disability (TPD) prior to attaining age 66 or Old Age Disablement (OAD) thereafter, Rider Sum Covered will be payable.
Waiver of Contribution Rider In the event the person covered is diagnosed with Total and Permanent Disability (TPD), Old Age Disablement (OAD) or any of the 36 Critical Illnesses (CI), the future contributions will be waived.

 

Note:The rider details above are non-exhaustive. Please refer to the Product Disclosure Sheet or Takaful certificate for more details.
 
What are the contribution payment options and method of payment?

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).

 
What is the contribution payment term for HLM Takaful i-Heritage Protector?

You may choose to pay the contribution for 5, 10, 15 or 20 years.

 
What happens if I stop paying contribution?

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.

 
Are the contributions paid for HLM Takaful i-Heritage Protector eligible for income tax relief?

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.

 
What happens if I terminate my certificate early?

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.

 
What are the exclusions for HLM Takaful i-Heritage Protector?

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).

 

Appendix I – List of 36 Critical Illnesses under Waiver of Contribution Rider

For more information :
Please contact (603) 7650 1800 or
Email us at ReachUs@takaful.hongleong.com.my

For claims enquiry :
Email us at Claims@takaful.hongleong.com.my

Level 5, Tower B, PJ City Development,
No.15A, Jalan 219, Seksyen 51A,
46100 Petaling Jaya, Selangor
Tel: (603) 7650 1800
Fax: (603) 7620 6730