Public Sector / LPPSA



  • MRTT for Public Sector (LPPSA)

    What is this product about?

    IKHLAS Mortgage Reducing Term Takaful

    This product is designed to provide coverage to indemnify the Prevailing Sum Covered to the Takaful Participant in the event of Death or Total and Permanent Disability (TPD) or diagnosed with Critical Disease that lead to medically boarded out of the Person Covered.

    Immediate Death Expense will be paid on top of the Death Sum Covered while Medical Expenses for TPD will be payable on top of the TPD Sum Covered.

    What are the covers/ benefits provided?

    • Death Benefit
      In the event of death of the Person Covered, the Prevailing Sum Covered will be payable to the Master Takaful Participant in one lump sum.

    • Total Permanent Disability (TPD) Benefit
      In the event of TPD to the Person Covered, the Prevailing Sum Covered will be payable to the Master Takaful Participant in one lump sum.

    • Critical Disease that lead to Medically Boarded Out (CD) Benefit
      In the event the Person Covered is diagnosed with Critical Illness that lead to him/her medically boarded out, the Prevailing Sum Covered will be payable to the Master Takaful Participant in one lump sum.

    • Immediate Death Expense (IDE) Benefit
      In the event of the Person Covered’s death, Immediate Death Expense will be payable to the proper claimant of the Person Covered.

        1. RM1,000 for coverage below RM56,000.

        2. RM2,000 for coverage of RM56,000 and above.

    • Medical Expenses for TPD (ME) Benefit
      In the event of TPD of the Person Covered, Medical Expenses will be payable to the Person Covered.

        1. TPD Benefit is covered up to age 70 years old.
        2. CD Benefit is covered up to age 60 years old.

    • Early Surrender Benefit
      Upon surrender of the Individual Takaful Certificate, a proportion of the your Takaful Contribution will be payable.

      If the Takaful Certificate is surrendered within one year from the Commencement Date due to technical reasons, full Takaful Contribution amount will be refunded. Otherwise, surrender value and unearned Wakalah after deduction of surrender fee of RM100 will be payable.

    • Maturity Benefit
      Upon the maturity of the Individual Takaful Certificate, no value will be payable.

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

  • LTHO for Public Sector (LPPSA)

    What is this product about?

    IKHLAS Long Term HouseOwner Takaful

    This product provides cover against losses and/or damages to your building 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 (borrower) 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 building due to the following causes (perils):

    (a) Fire, lightning, thunderbolt, subterranean fire

    (b) Explosion – domestic

    (c) Aircraft and other aerial devices or articles dropped therefrom

    (d) Impact damage by any road vehicle or animals

    (e) Bursting and overflowing of water tanks apparatus or water pipes

    (f) Theft – but only if accompanied by actual forcible and violent breaking into or out of a building or any attempt thereat.

    (g) Hurricane, cyclone, typhoon, windstorm

    (h) Earthquake and volcanic eruption

    (i) Flood

    (j) Robbery and hold up

    (k) Riot, strike and malicious damage

    (l) Subsidence and landslip


    Applicable Excess:

    • For (e), the Company will not be liable for the first RM50

    • For (g), (h) and (i), an Excess is applicable for the first 1% of the Sum Covered or RM200, whichever is lower.

    • For (l), the benefit is subject to an Excess of 5% of the total Sum Covered or RM25,000 whichever is lower


    Additional Benefits:

    Loss of rent not exceeding ten percent (10%) of the total Sum Covered on buildings; Liability to the public up to RM50,000.

    Note: The above list is non-exhaustive. Please refer to the Takaful Certificate for further details on the terms and conditions of the above perils.

  • 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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