Public Sector / LPPSA



  • MRTT for Public Sector (LPPSA)

    What is this product about?

    This product provides coverage on Death or Total and Permanent Disability (TPD) to the Person Covered who has taken a mortgage issued by Lembaga Pinjaman Perumahan Sektor Awam (LPPSA).

    What are the covers/ benefits provided?

    • Death Benefit
      If the Person Covered dies while the Individual Takaful Certificate is inforce, the prevailing Sum Covered, payable from the Risk Fund, plus balance in Participant’s Individual Fund (PIF), if any, will be payable in one lump sum. The Sum Covered payable is the prevailing Sum Covered as at date of death.

    • Total and Permanent Disability (TPD) Benefit
      In the event of TPD to the Person Covered while the Individual Takaful Certificate is inforce, the prevailing Sum Covered, payable from the Risk Fund, plus balance in Participant’s Individual Fund (PIF), if any, will be payable in one lump sum. The Sum Covered payable is the prevailing Sum Covered as at the commencement date of TPD.

      Note: Please read the Individual Takaful Certificate for details of the Takaful Benefits.



    What is this product about?

    This product provides cover against losses and/or damages to your buildings due to fire, lightning and covered perils. The period of cover for this Takaful depends on the financing period as agreed between the Takaful Participant and the financier i.e. Lembaga Pembiayaan Perumahan Sektor Awam (LPPSA).

    This product is packaged together with IKHLAS Mortgage Reducing Term Takaful for LPPSA.

    What are the covers / benefits provided?

    This Takaful Certificate covers:

    Loss or damage of buildings due to the following causes (perils):

    (a) Fire, lightning, thunderbolt, subterranean fire

    (b) Explosion – domestic

  • What are the Shariah concepts applicable?

    Tabarru’shall mean donation for the purpose of solidarity and cooperation among the Takaful Participants and to be used to help Takaful Participants in times of misfortune. In the context of the Company, Tabarru’ will be allocated into the Risk Fund.

    Wakalahrefers to a contract where a party, as principal (muwakkil) authorizes another party as his agent (wakil) to perform a particular task on matters that may be delegated with or without imposition of a fee. In the context of the Company, we are appointed as an agent (wakil) to carry out the Takaful Business and a Wakalah a fee (Ujrah) to be paid to the Company.

    Note: “the Company” refers to Takaful IKHLAS.

  • FAQ

    Frequently Asked Questions

    • Who is Takaful IKHLAS?
      Takaful IKHLAS is a wholly-owned subsidiary company of MNRB Holdings Berhad, which is listed in the main board of Bursa Malaysia and a subsidiary of Perbadanan Nasional Berhad (PNB). It is licensed under the Islamic Financial Services Act 2013 and regulated by Bank Negara Malaysia.

    • Is Takaful IKHLAS similar to other Takaful providers?
      Yes, we are operating based on Shariah principles. What sets us apart is in terms of the model used by each Takaful operator, where we use the Wakalah Model.

    • What differentiates Takaful IKHLAS, a Takaful operator with"Conventional Insurance Company"?
      Conventional insurance is based on commercial factors and has Riba (usury), Gharar (uncertainty) and Maisir (gambling) elements.

      These elements are conflict with Shariah principles. Takaful operates according to the principles of raising funds ('pooling resources') on the basis of tabarru' to help those facing misfortune. It encourages an attitude of mutual helping and shared responsibilities among the participants. The contributions or donations received are subsequently invested and the net profit (if any) will be refunded if the participant has matured certificate, surrenders his certificate early or terminates it if no claim is made.


    • What is IKHLAS Mortgage Takaful?
      It provides the coverage for death and total permanent disability to all civil servants who obtained funding from the Lembaga Pembiayaan Perumahan Sektor Awam. When calamity strikes, IKHLAS Mortgage Takaful will pay off the outstanding balance (based on table of reducing sum covered) as well as to relieve the burden on the families left behind.

    • Do persons who wish to participate in IKHLAS Mortgage Reducing Term Takaful have to undergo medical examination?
      Acceptance is automatic without the need for a medical examination for financing not exceeding RM750, 000.00 (excluding takaful contribution) or any limits to be determined later.

    • When will the IKHLAS Mortgage Takaful certificate come into be force?
      IKHLAS Mortgage Takaful certificate will come into force from the loan approval date

    • How long does it take for IKHLAS Mortgage Takaful claims to be processed?
      Death benefit claims will be processed within twenty-four hours (24 hours) while the full claims will be processed within ten (14) working days upon receiving complete documents.


    • What is the difference between Houseowner Takaful with Fire Takaful?
      Houseowner Takaful is part of Fire Takaful but consists of a more comprehensive protection package with a cheaper contribution rate compared to taking fire certificate with similar protection.

    • What are the takaful covers that can be claimed by participants?
      The participants may be indemnified by making a claim if their property is destroyed or damaged due to the following reasons: Fire, struck by lightning and explosion of domestic gas cylinder. Additional perils such as falling aircraft, collision by outside vehicles, bursting or overflowing of water, burglary or intrusion, hurricanes, earthquakes or volcanic eruptions, flood, loss of rent or expenses during repair costs and civil liability of third parties.

    • Is the sum covered amount adequate to cover the participant’s property?
      Normally, the amount of coverage should be equivalent to the cost of rebuilding the damaged property minus the cost of the land. When the participants make renovations to their home, the renovation cost should be informed to LPPSA.

    • How do participants make claims?
      When a participant's property is destroyed or damaged by fire or other perils as stated in the takaful certificate, the participant must inform LPPSA immediately by filling in the relevant form.

    • How long is the claim process?
      Claims will be processed within fourteen (14) working days upon Takaful IKHLAS receiving completed claim documents.


    "Give adequate protection to your property financing
    - Act proactively in the face of unexpected things."

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