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You are here: Home > Family Takaful > IKHLAS   Payor Savings Takaful Rider

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 products, is uniquely designed to provide protection as well as to encourage savings/investment.

Maturity Benefit
Upon maturity of the certificate, participant will receive the accumulated amount in the Personal Risk Investment Account (PRIA).

Better Investment Return
The Takaful IKHLAS Model allows the Company to optimise investment returns to the participants (please contact us for further info).

Age and issue limits

Issue Ages : Payor: 18 years - 60 years old, age next birthday, male/female
Child: 30 days - 18 years old, age next birthday, subject to the child remaining in education on a full time basis
Expiry Age : Upon Child attaining the age of 18 (or maximum up to 23, subject to child remaining in education on a full time basis), or upon Payor attaining the age of 65, whichever is earlier
Terms : Minimum - 5 years
Maximum - 23 years
   
     

Takaful Solution Provider in Malaysia - auto insurance, auto takaful, car insurance, education plan, fire insurance, health insurance, home insurance, home takaful, hospitalization benefit, insurance, medical protection, motor, motor insurance, motor takaful, mrta, mrtt, personal accident, takaful, takaful provider, travel insurance, motor policy

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Takaful Solution Provider in Malaysia - auto insurance, auto takaful, car insurance, education plan, fire insurance, health insurance, home insurance, home takaful, hospitalization benefit, insurance, medical protection, motor, motor insurance, motor takaful, mrta, mrtt, personal accident, takaful, takaful provider, travel insurance, motor policy