UNVEILING A NEW BANCASSURANCE 6-STAR PLAN BY NIAM
1. Whole Life Superior Protection Coverage
at a very affordable premium.
2. Extra protection coverage during productive
working years.
3. Guaranteed Triennial Cash payment for Life.
4. Guaranteed Maturity Benefits at age 88,
100% of
Sum Assured
is payable.
5. Guaranteed Limited Premium Payment Terms
up to age 55.
6. Pre-packaged/ Easy Enrolment/ Hassle Free
- only simple Health Declaration.
PROTECTION BENEFITS
Example: Abu Bakar, 20 years old saves RM500 monthly.
% of Sum Assured |
DEATH BENEFITS |
|
Natural Causes |
Accidental Causes |
|
During productive working years up to 55 years old |
RM170,500 X 200% = RM341,000 |
RM170,500 X 400% = RM682,000 |
From 55 years to 65 years old |
RM170,500 |
RM341,000 |
Thereafter up to 88 years old |
RM170,500 |
RM170,500 |
PAYMENTS AND RETURNS
Example: Abu Bakar, 20 years old saves RM500 monthly.
Total Premium Payment from age 20 to 55 (A) |
Guaranteed Cash Payment of 5% Sum Assured every 3 years (B) |
Maturity Benefit at age 88 (C) |
Total Payment Received
(B) + (C) |
36 years X RM500
|
5% X RM 170,500
= RM 8,525 23 Recurrences X = RM196,075 |
|
RM196,075
= RM366,575 |
 |
Mrs. Sarah Lim, 35, homemaker: “Being smart is not only about having good academic qualifications. I’m just a housewife but I definitely know the importance of having a comprehensive whole life policy for everyone in the family as it is a financial safety net for us during times of need.” |
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| Mr. Azrul Abdullah, 42, senior office manager: “Personally, being smart is ensuring my family and I are well taken care of when it comes to whole life protection needs. As I’m the sole breadwinner, my family depends on me entirely for financial support and there is no way I can compromise on their well being.” |
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Ms. Latha Raman, 22, fresh graduate: “I must thank my parents for their forward thinking – they signed up for a whole life plan under my name while I was still a toddler. Initially, I didn’t understand the importance of it but now that I’m about to enter the working world, it’s really good to know that I have a solid life policy coverage.” |
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LIFE PRECIOUS
What can be a better gift than living life to the fullest?
Are you prepared for the unexpected and unfortunate events in life?
What’s more rewarding and fulfilling than ensuring that the financial needs of your loved ones are taken
care of when you’re no longer around?
Let’s face the hard facts of life – you take each day as it comes and strive to give nothing but your best, all
the way through and at all times, too.
You take great pride in planning the major events in both your professional and personal life so that
everything goes on smoothly.
But what if the unexpected happens?
What if tragedy strikes…when you are least prepared to face it?
How will you or your family…cope in the face of adversity?
Have you ever thought about these?
GETTING PREPARED
By the time something unfortunate happens, it is usually a little too late to do much.
Often, when tragedy strikes, many if not most of us, are unable to turn back time or undo the damage.
The rest of us who are still leading a good life, however, can do something to ensure that we are better
prepared to face the eventualities.
In reality, critical illnesses and accidental deaths don’t just happen to a select group of people.
The truth may hurt but it can’t be denied that tragedy in any form can strike you, me or just about anyone at
anytime, anywhere, without warning.
What looks like a perfect life today may not remain that way forever, especially if you don’t plan your whole
life insurance needs well.
UNVEILING BIJAK MALAYSIA
It’s most certainly not just another whole life insurance plan.
Indeed, Bijak Malaysia is a bancassurance product engineered to meet your growing life protection needs,
whatever your age and station in life may be.
Choose to insure your life and that of your loved ones from as young as 30 days right up to the age of 53 for male or 50 for female, all
at the convenience of affordably priced premiums.
A non-participating whole life plan with limited premium payment (up until 55 years old, the typical
retirement age in Malaysia), it provides comprehensive coverage against death as well as Total and
Permanent Disability (TPD) due to natural and accidental causes.
UNIQUE FEATURES
While many whole life plans out there are each claiming to be superior than the other, Bijak Malaysia certainly
stands out from the rest.
Check out the unique features of Bijak Malaysia for yourself:
• Whole life superior protection coverage
• Affordable premiums ranging from RM1,200 to RM6,000 annually
• Extra protection coverage during productive/working years
• Guaranteed Triennial Cash Payment for life @ 5% of Sum Assured until age 88
• Guaranteed Maturity Benefit (Full Sum Assured is payable)
• Pre-packaged, easy enrollment & hassle free
(only requires a simple health declaration to get started)
• Strongly backed by the industry as it is initiated by the National Insurance Association of Malaysia (NIAM)
• A bancassurance product with extensive distribution network, for your added convenience
BIJAK MALAYSIA BENEFITS AT A GLANCE:
PROTECTION BENEFITS |
||||
% of Sum Assured |
Death Benefits |
Total & Permanent Disability (TPD) Benefits* (up to age 65) |
||
Natural Causes |
Accidental Causes |
Natural Causes |
Accidental Causes |
|
First 2 policy years |
25%** |
400% |
25%** |
200% |
Policy year 3 up to age 55 years |
200% |
400% |
200% |
200% |
From age 55 years to 65 years |
100% |
200% |
100% |
100% |
Thereafter up to age 88 years |
100% |
100% |
nil |
nil |
SURVIVAL BENEFITS |
||||
Triennial Cash Payment |
5% of Sum Assured paid out every three years up to policy maturity |
|||
Maturity Benefit |
100% of Sum Assured benefit payout at age 88 |
|||
* Coverage for TPD ceases at age 65
** Lien is applicable only for deaths and TPD due to natural causes during the initial two (2) years of the policy
inception,
due to underwriting constraints.
Bijak Malaysia is designed to be as simple as possible to enroll in, as there are no stringent medical
underwriting requirements – a simple health declaration form is all that is needed to get started.
Consequently, note that as illustrated above, there is an initial lien imposed in the first two years of policy
inception on death & TPD due to natural causes – in these cases, only 25% of the Sum Assured is payable. Full
benefits are payable in cases of accidental causes.
From the third policy year right up to age 55, a higher Sum Assured is payable for death & TPD, as this is our
proactive initiative towards serving you better during the most productive years of one’s lifetime.
In addition, this plan provides a guaranteed cash payment amounting to 5% of the Sum Assured which
becomes payable every three (3) years from the date of policy inception. Upon attaining age 88, you will
receive a maturity benefit amounting to 100% of the Sum Assured.
COMMISIONS
As Bijak Malaysia leverages on being a bancassurance product, the premiums and commissions payable is
amongst the lowest in the industry. The table below illustrates the commissions borne by customers, which
are paid from their annualised premiums:
Policy Year |
Proportion of premium deduction for commission |
Actual amount (RM) |
1 |
25% |
300 |
2 |
15% |
180 |
3 |
15% |
180 |
4 |
5% |
60 |
5 |
5% |
60 |
6 |
5% |
60 |
7 |
5% |
60 |
8 |
5% |
60 |
9 |
5% |
60 |
10 |
5% |
60 |
The above illustration assumes a Bijak Malaysia Plan with a 64-year term (life assured age 25) and annual premium RM1,200.
* Inclusive of Production Bonus & Persstency Bonus Maximum Production Bonus for 1st year is 5%. Maximum Persistency Bonus for 2nd & 3rd year is 10%
The following links offer a sample list of the sum assured and corresponding triennial cash payments:
* Sum Assured
* Triennial Cash Payment (5% off Basic Sum Assured)
Tax Relief:
This policy may qualify you for personal tax relief subject to the final decision of the Inland Revenue Board Malaysia.
Notes:
1. Bijak Malaysia is a non-participating Whole Life policy protecting the insured right up to age 88, featuring a limited premium payment term up
to age 55 and offers cash payments amounting to 5% of the basic sum assured which becomes payable every three (3) years from policy
inception date.
2. The policy shall not have a guaranteed minimum cash value on termination until after you have paid premiums for three (3) full years.
3. All premiums are fully payable up till the expiry of the policy’s premium payment period or prior to death of the Assured (whichever earlier).
Premiums can be paid on a monthly basis and the amount ranges between RM100, RM200, RM300 and RM500, depending on the chosen
protection plan. Quarterly, semi-annually and annual premium payment method are also available.
4. If payment of premiums cease before the stipulated period, it may lead to early termination of coverage to the Life Assured.
5. Premature termination of this policy may result in the policyholder receiving cash which is of lesser value than the total amount paid in
premiums.
6. For all claims, the assured is required to submit a written notice to the company within 30 days of the event (e.g. accidents, hospitalisation, etc.)
7. Before signing up for the policy, ensure this plan best serves your needs and that the premiums payable are well within your affordability.
8. You are given a "Free-Look Period" of fifteen (15) days to review the suitability of your newly purchased insurance plan after delivery of the policy contract. If you return the policy contract to the Insurer during this period, all premiums paid (less any medical examination fees) will be refunded to you and this policy contract shall be cancelled.
IMPORTANT:
This brichure merely provides brief information in relation to Bijak Malaysia. It is never intended to be a basis of an insurance policy or contract of insurance. Ask for a copy of our policy, to view detailed terms, conditions and exclusions of coverage. The information contained in this brochure may be changed without prior notice. In the event of disputes or ambiguity arising from the Bahasa Malaysia translation of this brochure, the English version shall prevail.
In the event of any discrepancy between the English, Bahasa Malaysia, and Chinese versions, the English shall prevail.
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