brochure - Takaful IKHLAS

IKHLASlink SECURE TAKAFUL
A total protection plan customised
to suit your needs
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A total protection plan customised to suit your needs
This should be on your checklist: a protection plan that can be customised to suit
your lifestyle as well as your wallet. It could be the solution you are looking for;
an affordable plan that covers all of your life and health protection needs that is
flexible enough to change with your needs. It is the solution that works with you,
for you; an intelligent plan that would also help you to potentially maximise the
returns on your hard-earned money.
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IKHLASlink Secure Takaful
is the answer you are looking for
IKHLASlink Secure Takaful is a comprehensive regular Takaful
Contribution Investment-Linked Takaful plan that combines the best
of both the protection and investment worlds. This plan offers a
holistic package of optional riders covering major health areas such
as critical illnesses, personal accidents, hospitalisation and surgical
benefit, just to name a few. In addition, you only need to participate
in one Takaful Contribution amount to enjoy the entire package1.
One Takaful Contribution to cover all benefits
With just one level Takaful Contribution amount, you can
choose to cover all or only selected optional riders, making
it convenient and hassle-free in budgeting your overall
monthly Takaful Contributions2.
Comprehensive protection plan for unforeseen events
IKHLASlink Secure Takaful comes with Death and Total and Permanent Disability3 (TPD) cover to ensure that
you are always protected, wherever and whenever. In these unfortunate events, the Basic Sum Covered plus
the Net Asset Value (NAV) of the Units in all funds are payable. On the other hand, if you opt to surrender or
hold on to maturity of the Takaful Certificate, the NAV of the Units in all funds is payable.
IKHLASlink Secure Takaful also provides you with a comprehensive range of optional benefits, such as critical
illnesses, accidents, hospital and surgical bills as well as waiver of Takaful Contributions to ensure continuity
of your protection coverage. It is entirely your choice which one you choose to add on to your plan. For
example, you may select only the rider medical card or combine it with coverage for Critical Illnesses for a
wider protection.
Your choice of Investment-Linked funds
You have the freedom to build a healthy investment portfolio for potentially
higher returns4 over the middle to long term investment horizon by choosing
to invest in any of the Investment-Linked funds, depending on your
personal risk tolerance and financial goals. Your investments are managed
by our professional fund managers allowing you to tap into their resources,
investment expertise and experience for your assurance and peace of mind.
You need to be aware that low risk is associated with low potential returns,
whereas high risk is associated with high potential returns. For details of
these funds, please refer to the individual Fund Fact Sheets.
Example, with a monthly Takaful Contribution of RM300, you can choose to mix and match coverage for the basic plan and riders.
Subject to having sufficient unit balance in the investment account to participate in the optional riders.
3
Before age 65 and subject to a maximum of RM1,500,000 (adult) or RM500,000 (child, 16 years and below) per Person Covered. Standard exclusions
apply for TPD as listed in the Takaful Certificate.
4
Past performance is not a guarantee of future performance. Returns are largely dependent on the market performance. Therefore the value of the
investment/Takaful Certificate benefits may increase or decline based on market conditions. As a result, the balance may rise above or fall below the total
Takaful Contribution made.
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Other benefits
Investment-Linked funds
•
Affordable monthly Takaful Contribution
from as low as RM80 a month.
• Flexibility to change the amount of protection
and investment amounts to match your
current lifestyle.
•Top-up feature to maximise your investment
potential. 94.75% of the top-up amount will
be invested into the Investment-Linked funds
of your choice.
•Partial cash withdrawals whenever you need
some urgent cash. The chances of lapse will
increase if partial withdrawal is exercised.
•Switch between investment funds based on
your changing risk appetite.
Growth Fund
The objective of this fund is primarily to invest in Shariahcompliant listed equities to provide capital growth over the
medium to long term through a diversified, but growthoriented portfolio. This fund can attract the investor who
is mainly interested in growth and willing to accept higher
risk in investment return. Realised gains will be automatically
reinvested to provide capital growth and will be reflected in
increase in the NAV and thus unit prices.
Balanced Fund
The objective of this fund is to attain medium to long-term
capital growth via investments into Shariah-compliant listed
equities, debt securities and other Shariah-compliant assets.
This fund is to provide a balanced mix of income and equities.
Fixed Income Fund
DON’T F
ORGET
The portfolio seeks to provide capital preservation over the
short to medium term period by investing primarily in the
Malaysian Shariah-compliant fixed income securities and
money market instruments.
!
Takaful Contribution allocation
The Takaful Contributions paid are based on the following rates per the illustration below (based on annual Takaful Contribution
of RM1,000). The allocated Takaful Contributions will be used to subscribe for units in your selected funds.
Takaful Certificate Year
1
2
3
4
5-6
7-9
10 & Above
Takaful Contribution amount (RM)
1,000
1,000
1,000
1,000
1,000
1,000
1,000
Takaful Contribution Allocation
40%
40%
60%
60%
80%
90%
100%
Allocated Takaful Contribution (RM)
400
400
600
600
800
900
1,000
Charges
Some of the units in the investment accounts will be deducted to pay for the fees and charges under the Takaful Certificate.
These include charges for the Basic Sum Covered and the other optional benefits.
1
2
3
4
5-6
7-9
10 & Above
Wakalah fee*
Takaful Certificate Year
60%
60%
40%
40%
20%
10%
0%
Comissions
40%
40%
25%
25%
15%
0%
0%
* The Wakalah fee is inclusive of commission.
If the term is less than 20 years, Takaful IKHLAS will reduce the charges accordingly.
IKHLASlink Secure Takaful is based on the Wakalah Model where the company charges a Wakalah Fee as a percentage of the
Takaful Contributions for administration of the business.
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Other Charges
Exclusions
Charges
Description
Tabarru’ Charge
Units will be deducted at the
beginning of each month.
Additional charge may be made
on sub-standard cases subject to
underwriting
Fund Management Fee
1.00% - 1.50% per annum
Switching Fee
First five switches free per Takaful
Certificate year; subsequent
switching at 1% of amount
switched subject to a maximum of
RM50 per switch
Takaful Certificate
Administration Fee
RM72 per annum and RM25
charged upon every top-up
Partial Withdrawal Fee
1st year – 3%
2nd year – 2%
3rd year – 1%
Thereafter – 0%, up to a maximum
of RM50 per withdrawal
Surrender Fee
RM50 maximum
Stamp duty
RM10 one-off each Takaful
Certificate
1. Should the Person Covered, whether sane or insane,
commit suicide within one (1) year from the effective
date or die as a result of Acquired Immune Deficiency
Syndrome (AIDS) or other sexually transmitted diseases,
no benefit shall be payable under this Takaful Certificate.
The Company shall refund the balance from the unit
funds and net distributable surplus from the Risk Fund,
if any, to the Person Covered’s next of kin.
2. Benefit shall not be payable for TPD occurred directly or
indirectly from any of the following causes:
Takaful Ikhlas Berhad (Takaful IKHLAS) is a wholly-owned
subsidiary of MNRB Holdings Berhad and is registered
under the Islamic Financial Services Act 2013 and regulated
by Bank Negara Malaysia. Our business operations and
management are in accordance with Shariah principles. We
stress on ensuring equity and fairness in all our dealings
as we believe in providing “ease of doing business”
to our most important partner – our Customers. In line
with international and local developments in the practice
of Islamic financial protection services, Takaful IKHLAS has
adopted the Wakalah contract as our system and have
modelled our operations accordingly. Wakalah is a form of
representative relationship between Takaful IKHLAS and a
Person Covered.
a. War, invasion, act of foreign enemy, hostilities or
war-like operations (whether war be declared or
not) or civil war;
b. Mutiny, riot, military or popular rising, insurrection,
rebellion, revolution, martial law or state of siege,
any of the events or causes which determine the
proclamation or maintenance of martial law or state
of siege;
c. Any act of terrorism. For this purpose, an act of
terrorism means an act, including but not limited to
the use of force or violence and/or threat, of any
person or group(s) of persons, whether acting alone
or on behalf in connection with any organization(s)
or government(s), committed for political, religious,
ideological or similar purposes including the intention
to influence any government or organization and/or
to put the public or any section of public in fear;
d. Cause by or consequent upon suicide or attempted
suicide or willful self-injury or indulgence in alcohol
or narcotics or drugs or insanity or arising from
venereal disease;
e. Disability sustained by the Person Covered whilst
entering, operating or servicing, ascending or
descending from or any other activities relating
to and including sky diving, parachuting, bungee
jumping, hang-gliding or ballooning or any other
aerial device, contraption, conveyance except while
the Person Covered is in an aircraft operated by a
commercial passenger airline on a regular scheduled
passenger trip over its established passenger route;
f. Disability arising prior to inception of coverage;
g. Any breach of the law by the Person Covered or any
assault provoked by him;
h. Person Covered being under the influence of alcohol
or drugs other than in accordance with the direction
of a registered medical practitioner;
i. Involvement in any underwater activity necessitating
the use of artificial breathing apparatus;
j. Injury caused by nuclear fission, nuclear fusion,
nuclear
weapon
materials
or
radioactive
contamination;
k. Acquired Immune Deficiency Syndrome (AIDS) and
any AIDS related conditions.
Takaful IKHLAS employs the following contract to govern
our business:
Note: This list is non-exhaustive. Please refer to the Takaful
Certificate for the full list of exclusions.
Why Takaful IKHLAS?
a. Tabarru’ shall mean donation for the purpose of solidarity
and cooperation among the Takaful Participants and
to be used to help the Takaful Participant in times of
misfortune. In the context of Takaful IKHLAS, Tabarru’
will be allocated into the Risk Fund.
b. Wakalah shall mean agency. In this context, it refers
to a contract between the Company and the Takaful
Participant where the Takaful Participant authorises the
Company to manage the fund on his/her behalf, which
allows the Company to charge a Wakalah fee.
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Important Notes
a. The brochure is for general information only. It is not a
contract of Takaful. The conditions disclosed are neither
comprehensive nor exhaustive. You need to refer to the
Product Disclosure Sheet (PDS) and the Benefit Illustration
for further details, both of which can be obtained from
your servicing Takaful agent. You should also consider the
fees and charges involved.
e. In the event of lapse, reinstatement allowed is subject to
Takaful IKHLAS terms and conditions.
b. Takaful IKHLAS reserves the right to revise the rates, fees
and charges, benefits, terms and conditions. The Takaful
Participant will be informed in writing of the revision.
g. If your participation involves a Takaful Contribution of
sizable amount of RM5,000 and above, you should consider
participating in a single Takaful Contribution InvestmentLinked plan rather than a regular Takaful Contribution plan
as it offers better allocation rates for investments.
c. You should satisfy yourself that this plan will serve your
needs and that Takaful Contribution payable under the
plan is an amount you can afford. Participating in an
Investment-Linked plan is a long-term commitment and it
is not advisable to hold the Takaful Certificate for a short
period in view of the high initial cost. You may choose
to cancel your Takaful Certificate by returning the Takaful
Certificate to Takaful IKHLAS within fifteen (15) days after
you have received the Takaful Certificate. Takaful IKHLAS
shall cancel it immediately upon receipt and the refund
amounts shall follow the terms and conditions of the
Takaful Certificate.
d. If at the expiration of the Period of Grace and the payment
of any Takaful Contribution is in default, then the Company
reserves the right to advance an “equivalent amount from
the respective account” to pay for the Tabarru’ and the
Takaful Certificate shall be continued “in force under PIA”
until the amount in the unit funds is less than the Takaful
Contribution needed to pay for the Tabarru’. During this
period the Takaful Certificate shall remain in force and if
any Takaful Contribution remains unpaid after the unit
funds amount become insufficient to be advanced any
further, the Takaful Certificate shall lapse and have no
further value.
f. The Company will charge a Surplus Administration Charge
(SAC) of 50% of the gross distributable surplus declared
at the end of each Financial Year. The net distributable
surplus (after deducting SAC) from the Risk Fund will be
allocated in full (100%) to the Takaful Participant.
h. Total amount to be exempted for income tax relief for
Takaful and EPF contribution is limited to RM6,000.
However, this is still subject to approval from the Inland
Revenue Board of Malaysia.
i. Our charges exclude tax that would be imposed in the
future (including Goods and Services Tax (GST)). Upon
implementation of the GST, we will be entitled to recover
from you any GST that we are required by law to collect.
j. For more information, you may refer to the insuranceinfo
booklet on ‘Investment-Linked Takaful’, available at all our
branches or you can obtain a copy from the Takaful Agent
or visit www.insuranceinfo.com.my
This is a Takaful product that is tied to the performance of the underlying assets, and is not a pure
investment product such as ‘unit trusts’.
For more information, please contact us at:
TAKAFUL IKHLAS BERHAD (593075 U)
(A wholly-owned subsidary of MNRB Holdings Berhad)
CRM Department, IKHLAS Point
Tower 11A, Avenue 5, Bangsar South
No. 8 Jalan Kerinchi, 59200 Kuala Lumpur
Tel: 03-27239999 Fax:03-27239998
Website: www.takaful-ikhlas.com.my
E-mail: [email protected]
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