Introduction
This is a group Takaful plan and
is designed to provide coverage to pay off outstanding
loan amount owing to any institution in the event
of the participant’s death (who is the borrower)
or if the participant becomes totally and permanently
disabled.
What does IKHLAS Group Credit Term Takaful cover?
There are four types of coverage under this plan (for
example, depending on the method used to calculate the
outstanding Sum Cover) :
| i) |
Level Cover |
| ii) |
Flat Rate Reducing Cover |
| iii) |
Compounded Rate Reducing Cover |
| iv) |
Rules 78 or Sum Digits |
Maturity Benefit
Upon maturity of the certificate, participant will receive the accumulated amount in the Personal Risk Investment Account (PRIA)
Age and issue limits
| Issue Ages |
: |
18 – 70 years old, age next birthday, male/female |
| Issue Limits |
: |
Minimum: RM1, 000
Maximum: subject to underwriting approval
|
| Expiry Age |
: |
Upon attaining age 80 years old, age next birthday |
| Coverage Term |
: |
Minimum: 1 year
Maximum: 15 years
|
|
