Introduction
This scheme is designed exclusively for employees within the banking and financial sector. Coverage may also be extended to their spouses and children.
Benifits Offered
Financial Protection
Death
- In the event of Death of the Participant, the Death takaful benefit and any accumulated balance in the Participant’s Account (PA) shall be payable to the beneficiary.
Total Permanent Disability (TPD)
- In the event of TPD of the Participant, the TPD takaful benefit and any accumulated balance in the PA shall be payable to the Participant.
Double Indemnity Accidental Death (DI)
In the event of Accidental Death of the Participant, the DI takaful benefit will be payable in one lump sum to the beneficiary.
Partial Permanent Disability (PPD)
The PPD takaful benefit is based on a scaled percentage as illustrated in the Master Certificate which will be payable in one lump sum to the Participant.
Hospital Income Benefit (HIB)
In the event of hospitalization in any hospital due to illness or accident, HIB takaful benefit is paid up to ninety (90) days max.
Funeral Expense (FE)
The FE takaful benefit is payable in the event of death from any cause.
Accumulated Savings
Accumulated Cash from Participant’s Account (PA) is available upon maturity or termination of the Certificate. PA is also payable upon Death or TPD.
Contribution
Contribution is as low as RM20/RM30/RM40/RM60/RM80/RM100 monthly through salary deduction.
24 hours, worldwide coverage
Tax exemption
Get tax exemption on gross contribution paid up to a maximum of RM 6,000 subject to Inland Revenue Board of Malaysia’s (LHDN) declaration.
All successful applicants will receive a certificate on his/her coverage.
Tabarru’ Rates
The Tabarru’ rates for this scheme are not fixed. The Takaful operator may vary the rates by giving at least thirty (30) days written notice to the Master Certificate Holder (Koperasi Pekerja Pekerja Bank Malaysia Berhad) before the revision of rates.
(A)
| Monthly Contribution & Takaful Benefit |
| No of units |
Monthly Premium |
Death |
Total Permanent Disability (TPD) |
Partial Permanent Disability (PPD) |
Hospital Income Benefit (HIB) |
Funeral Expenses (FE) |
| Natural |
Accident |
Natural |
Accident |
| 1 |
20 |
30,000 |
60,000 |
30,000 |
60,000 |
30,000 |
30 |
3,000 |
| 2 |
30 |
45,000 |
90,000 |
45,000 |
90,000 |
45,000 |
45 |
3,000 |
| 3 |
40 |
60,000 |
120,000 |
60,000 |
120,000 |
60,000 |
60 |
3,000 |
| 4 |
60 |
90,000 |
180,000 |
90,000 |
180,000 |
90,000 |
90 |
3,000 |
| 5 |
80 |
120,000 |
240,000 |
120,000 |
240,000 |
120,000 |
120 |
3,000 |
| 6 |
100 |
150,000 |
300,000 |
150,000 |
300,000 |
150,000 |
150 |
3,000 |
( B )
| Accumulated Participant Special Account - Monthly Contribution Rm20 |
| Duration |
Annual Contribution |
Accumulated Contribution |
Accumulated PA |
Saving % |
| 1 |
240 |
240 |
127.54 |
53% |
| 5 |
240 |
1,200 |
690.79 |
58% |
| 10 |
240 |
2,400 |
1,531.73 |
64% |
| 15 |
240 |
3,600 |
2,556.35 |
71% |
| 20 |
240 |
4,800 |
3,805.64 |
79% |
| 25 |
240 |
6,000 |
5,329.86 |
89% |
| 30 |
240 |
7,200 |
7,190.50 |
100% |
| 35 |
240 |
8,400 |
9,240.00 |
110% |
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