The unexpected circumstances in life, many a time effect our well-being. Realizing this fact, Takaful Ikhlas has created a plan that helps to mitigate those painful and unpleasant experiences.
IKHLAS LIFESTYLE TAKAFUL is an individual level of indemnity and an investment type plan that participates in profit which will be distributed back to participants. This plan product provides protection against death and total disability of the participant prior to the certificate’s maturity. The certificate duration ranges from 4 to 42 years and contributions are payable until maturity of the certificate. Customized to provide you with a secure ground, the plan will also protect you and your loves ones, against the unpredictable capricious expectations. The maturity benefit is the accumulated contribution (net of any charges) in the Personal Investment Account (PIA).
WHY DOES IKHLAS LIFESTYLE COVER?
Death & Total Permanent Disability (TPD) Benefit – In the event of death or TPD of the participant within the term of the certificate, the Sum Covered (SC) plus the accumulated amount in the PIA are payable to the participant’s nominees or next of kin. An additional Funeral Expense benefit of 10% of SC, subject to a maximum of RM10,000 is payable to the next kin in the event of participant’s death.
Note: In the event of TPD, the benefits are payable to the participant.
WHY IKHLAS LIFESTYLE?
For favourable result(s) from every medical check-up, the Participant will be granted an additional free SC of RM1000 for each every initial RM10,000 SC. However, should the result(s) be unfavorable, no additional cover shall be granted.
The participant shall be entitle for a free medical check-up at the end of every five (5) certificate years, subject to a maximum of three (3) check-ups throughout the certificate term. Takaful Ikhlas will determine the type of checkup that participants are entitled, as it deemed fit and suitable.
Partial cash withdrawals from the PIA are allowed after the certificate has been in force for a minimum number of five (5) years. Only three (3) withdrawals are allowed during the lifetime of the certificate. Subsequent withdrawals must satisfy a minimum gap period of two (2) years between withdrawals. A transaction fee of RM15.00 is chargeable from the PIA for each transaction.
Top-Up Contribution Option
Top-up contributions are allowed from the commencement of the certificate. The amount of top-up is shall be subject to a minimum of RM50.00 per top-up. This top-up amount shall which will be solely allocated to the PIA.
In reference to the total permanent disablement of the participant, the benefit is payable is subject to an elimination period of six (6) months, provided that:
- The total and permanent disability claim is confirmed
- The total and permanent disablement is based on ‘any occupation’ definition
- The contributions are not overdue
Term and age limit
Issue Ages: 18 – 55 years old (age of next birthday, male / female)
Issue Limits: Minimum – RM50,000 Sum Covered
Maximum – Subject to underwriting decision
(in multiples of RM10,000)
Expiry Age: Upon attaining 60 years old
Protect your future while enjoying better returns
Our IKHLAS Model allows a bigger portion of your account to be utilized for investment purposes, which gives you a more optimized rate of return. It also provides for more frequent allocation of investment income and surplus to the participant’s investment account. Immediate reinvestment of these investment income and surplus will in turn provide a better total return.
WHY TAKAFUL IKHLAS?
Takaful Ikhlas Sdn. Bhd. (Takaful IKHLAS) is a subsidiary of MNRB Holdings Berhad. Our business operations and management are in accordance with the Shariah principles. We stress on ensuring equity and fairness in all our dealings. We believe in providing “ease of doing business” to our most important partner – our Customers.
Under the concept of “Tabarru”, the participant donates a pre-determined percentage of contribution to the risk fund to provide assistance to fellow participants. Our “Wakalah” model ensures that participants also benefit from profits investment and surplus in the risk fund.
Our IKHLAS Model allows bigger portion of the participant’s account to be utilized for investment purposes which gives more optimized rate of return. It also provides for more frequent allocation of investment income and surplus to the participant’s investment account. Immediate reinvestment of these investment income and surplus will in turn provide a better total return to the participants.
“Maintaining your lifestyle and independence with our IKHLAS Lifestyle Takaful Plan