Introduction

IKHLAS PAYOR SAVINGS TAKAFUL RIDER is a Takaful Rider Plan, which can only be attached to a Basic Plan. This plan will waive all future non-outstanding contributions due under the certificate (including attaching riders) in the event of the payor’s death, total and permanent disability (TPD) and/or being diagnosed as suffering from any critical illnesses (as specified in the contract) prior to the certificate’s maturity.

What does IKHLAS Payor Savings Takaful Rider Cover ?

DEATH BENEFIT
In the event of death of the Payor, arising from all causes, all future non-outstanding contributions due under the certificate (including attaching riders, where applicable) are waived.

TOTAL AND PERMANENT DISABILITY (TPD)
In the event of a total and permanent disablement of the Payor, arising from all causes subject to the terms and conditions of the Rider, all future non-outstanding contributions due under the certificate (including attaching riders, where applicable) are waived.

CRITICAL ILLNESS BENEFIT
In the event of the Payor is diagnosed of suffering from any one of the critical illnesses) as specified in the contract), all future non-outstanding contributions due under the certificate (including attaching riders, where applicable) are waived.

CONDITIONS
Upon TPD or diagnosis of critical illness of the Payor, the Payor Benefits Sum Covered (PBSC) is payable subject to the following conditions:
• The total and permanent disablement is based on “any occupation” definition,
• The disability benefit is payable after satisfying a qualifying period (waiting period) that such disability must last for a continuous period of not less that six (6) months in duration.
• The Company reserves the right to charge extra contributions in the event of unsatisfactory medical examination’s findings in respect of the payor’s health.
• Pre-existing conditions are excluded from this benefit.

Why IKHLAS Payor Savings Takaful Rider?

SAVINGS/INVESTMENT
This plan, unlike conventional product, is uniquely designed to provide protection as well as to encourage savings/investment.

MATURITY BENEFIT
Upon maturity, the balance in the participant’s PRIA plus profit and surplus are payable to the participant.

BETTER INVESTMENT RETURN
The Takaful IKHLAS Model allows the Company to optimise investment returns to the participants (please contact us for further info).