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Description of Plan
This
is a Group Takaful Plan that is designed to minimize
risk selection and provide a common base of takaful
for the covered group of participants.
Scope of Coverage:
(i) Employer or an Organisation
is the Master Contract Holder
(ii) Level Sum Cover:
A one year term coverage for a group of participants
with different types of plan designs. Typical plan
designs may include the following:
(a) Flat Sum Cover
(SC) plans, such as RM1,000 for all participants
(b)
Sum Cover based on employement category, such as:
- Senior Manager RM2,500
- Manager RM2,000
- Executive RM1,000
(c) Sum Cover based on membership
category, such as:
- Principal Member RM2,500
- Spouse Member RM2,000
- Child Member RM1,000
(iii) Death due to accidental
or natural causes
In the event of death of the participant within the
term of the policy, the Sum Cover (SC) plus the balance
in the participant's Personal Risk Investment Account
(PRIA) will be payable, in one (1) lump sum, to the
Master Policyholder or the participant's beneficiary
or next of kin.
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