Frequently Asked Questions (FAQ) e-term Takaful Cover PART A: GENERAL QUESTIONS ABOUT THE PLAN & HOW TO GET STARTED 1. What is e-term Takaful Cover? e-term Takaful Cover is a family takaful regular contribution plan that provides death coverage during the takaful term. 2. Who is this plan suitable for? This plan is suitable for people who are looking for a basic takaful protection at an affordable contribution. 3. How much cover do I need? The coverage that you need depends on your budget and financial needs. You can determine the amount of coverage you need to meet your family s financial needs if anything happens to you by using the Insurance Services Malaysia (ISM) Calculator. 4. What is the coverage term of this plan? The coverage term of this plan is up to age 65. 5. Who is eligible to enrol in this plan? This plan is offered to HSBC & HSBC Amanah customers of Malaysian Nationality aged 18 to 55 years old. 6. Can I apply for another person, i.e. spouse, children, etc? No, it is only applicable to yourself. 7. How do I apply for this plan? Walk-in: HSBC Amanah Takaful (Malaysia) Berhad Level 8, North Tower, No. 2, Leboh Ampang, 50100 Kuala Lumpur. Please bring your Malaysian identification card. Or Mail: Step 1: Visit www.takaful.hsbcamanah.com.my and click on e-term Takaful Cover banner; Step 2: Download the product illustration in your laptop or personal computer. Fill in the required information and click View Illustration to review the product details. Take note on your monthly contribution amount which is to be filled in your proposal form; Step 3: Print the product illustration and the proposal form; Step 4: Complete the proposal form accordingly; Step 4: Ensure all documents (product illustration, product disclosure sheet, proposal form and copy of your NRIC) are complete and mail to the address above.
8. Can I participate in more than one plan? Yes, you may participate in more than one plan. However, the total sum covered for all plans must not exceed RM500,000. 9. How will I know if my application is approved or rejected? Upon approval of your application, we will send you the Takaful Certificate and Takaful Schedule for your reference and safekeeping. If your application is unsuccessful, we will inform you in writing. 10. When will my coverage begin? Period of cover begins according to the date stated in your Takaful Schedule. 11. When will I receive my takaful certificate? If we agree to accept your application, we will issue the Takaful Certificate and Takaful Schedule within 7 working days from the date of the Takaful Operator s acceptance of the proposal, receipt of all relevant documentation and full contribution in respect of the proposal, whichever is later. 12. Do I need to undergo any medical check-up? No, you just need to answer 5 simple health questions in the proposal form. 13. What are the underwriting questions applicable? There are 5 underwriting questions applicable to this plan that you have to answer in the proposal form. The questions are as follows: 1. Have you ever been diagnosed with Cancer, Heart Disease, Stroke or HIV/AIDS? 2. Have you been diagnosed with or suffered from Diabetes or any medical condition affecting your lung, kidney, blood, brain, heart, liver, eye, ear or limbs for which you require continuous treatment or have consulted medical doctor with the last 5 years? 3. In the past 12 months, have you consulted or do you intend to consult a medical practitioner or specialist for investigations, medical referrals, surgical operation or treatment on any medical conditions*? *Except for these conditions: Common cold or flu, uncomplicated pregnancy and caesarean section, contraception, inoculation or injuries /fractures from which you have fully recovered. 4. In your job or leisure time do you take part in any dangerous activities as part of your occupation or leisure pursuits? 5. Have any of your life insurance / family takaful application been rejected by HSBC Amanah Takaful (Malaysia) Berhad or any other takaful operators /insurers? If you have answered YES to any questions above, the application will be rejected.
Explanatory Notes on Information : Cancer Stroke HIV/AIDS Diabetes Treatment Investigation Hereditary condition Dangerous activities Abnormal and uncontrolled cell growth in any part of the body that becomes malignant A cerebro-vascular accident (CVA) caused by a vascular event in the brain which results in any side effects or disorder If you have ever tested positive for HIV or AIDS. Usually defined as Diabetes Mellitus Type 1 or Type 2 which have resulted in raised blood sugar Undergoing surgical operation, physiotherapy, medical therapy or taking medicine Mammogram, X- Ray, MRI, CT Scan, Blood test. A disease or disorder that is inherited genetically, for e.g. Huntington's disease, Motor Neurone disease or Muscular Dystrophy Working at heights, working underground, using explosives, motor racing, flying other than as a fare paying passenger on a commercial airline, diving below 30m or mountain climbing (4,000m and above). PART B: QUESTIONS ABOUT BENEFITS UNDER THIS PLAN 1. What is payable under this plan? The sum covered will be payable in one lump sum upon death. 2. What is the coverage amount available for selection? Plan I II III IV V Sum Covered (RM) 100,000 200,000 300,000 400,000 500,000 3. Is there any cash value under this plan? No, there is no cash value under this plan. 4. Is there any maturity benefit under this plan? No, there is no maturity benefit under this plan. 5. Under what circumstances will my coverage be terminated? Your coverage shall be terminated: a) upon expiry date as stated in the takaful schedule; or b) upon payment of the Death Benefit; or c) upon the surrender or lapsation of the certificate; or d) when you reaches the age of 65 years old (based on age of last birthday on the certificate anniversary); or e) upon cancellation of certificate during cooling-off period; Whichever occurs first.
PART C : CONTRIBUTION PAYMENT 1. How much contribution do I need to pay? The contribution amount depends on your age, gender, smoking habits and sum covered. You must ensure that the contribution payable for this plan is within your budget. The product illustration is available in our website www.takaful.hsbcamanah.com.my for you to calculate the contribution based on your selected plan. 2. What is the contribution payment term? The contribution payment term for this plan is until age 65. 3. What are the payment methods allowable for this plan? The contribution payment methods are either through credit card or HSBC Banking Account only. 4. Can I change my payment mode? No, all contributions must be paid in monthly mode only. 5. Will there be any increase in contribution during the coverage term? The contributions will increase according to the attained age on the certificate anniversary. 6. How do I pay my contribution? The contribution will be charged on monthly basis until the end of the takaful term or termination of the certificate whichever earlier. 7. Is Goods and Services Tax (GST) applicable for this plan? No, the GST is not applicable for this plan. 8. Is the contribution paid eligible for tax relief? Contribution paid under this plan will be eligible for tax relief up to RM6,000 for Life Insurance/Family Takaful. (Please check with your tax adviser on your eligibility and note that this is subject to the final decision by the Inland Revenue Board) 9. What is the implication if you do not pay/unsuccessful debiting of your monthly contribution? The Takaful Certificate will lapse if we do not receive your contribution within 60 days from the contribution due date. PART D : CLAIM PROCEDURES AND EXCLUSIONS 1. How do I make a claim? When a participant deceases, the claimant/beneficiary is required to provide the below documents in order for Claims to proceed. Documentations Required: Mandatory: a) Certified true copy of Death Certificate b) Completed Claim Form Part 1 c) Completed Claim Form Part 2 (APS) d) 3 copies of Consent Form
e) General Practitioner details f) Certified true copy of NRIC g) Certified true copy of claimant bank passbook/statement h) Medical Report from doctor Supporting: a) Post Mortem report (for accidental death) b) Police Report (for accidental death) c) Medical Questionnaires d) Employer Questionnaires e) Claimant Questionnaires These forms can be downloaded from our website; www.takaful.hsbcamanah.com.my Submit to; HSBC Amanah Takaful (Malaysia) Berhad Level 8, North Tower, No. 2 Leboh Ampang, 50100 Kuala Lumpur. 2. What is the benefit exclusion applicable for this plan? No benefit will be payable if you commit suicide (whether while sane or insane) within One (1) year from the Issue Date of the Certificate or Reinstatement Date. 3. What is the waiting period under this plan? There is no waiting period for this plan. 4. Am I covered outside Malaysia? Yes, the coverage offered under this plan is applicable worldwide. 5. To whom will the benefit be payable? We will pay the benefit to your nominee(s) in the event of your death. 6. How long will it take for a claim to be processed? Normally, it takes up to 14 working days from the date when the complete/full documents are received. 7. How do I check my claims status? The claimant may contact our Customer Service at 1-800-88-9659. Our office hour is from 8.30 am 5.30 pm on Monday to Friday. 8. How do I get my claims payout? The claims payout will be made payable to the claimant s bank account upon approval of the claim. PART E : CERTIFICATE SERVICING 1. Can I change my sum covered after my certificate is issued? No, change of sum covered is not allowed after the certificate is issued.
2. Can I change my credit card details? Yes, you may update your credit card details in writing to us or submit the Change Request Form which can be downloaded from our website. 3. Can I change my address or personal detail? Yes, you can inform us regarding the change of your email or postal address by writing to us or submit the Change Request Form which can be downloaded from our website. 4. Will I get a refund if I cancel my certificate? If you cancel within the 15 days free-look period from the delivery of your Certificate, the total contribution that you have paid will be refunded. However, if you cancel after the 15 days free-look period, you will not be entitled to any refund of contribution or cash value. Your coverage will cease on the next contribution due date where you do not require to make further contributions. 5. Can I reinstate my lapsed certificate? Yes, the reinstatement is allowed within 6 months from the lapse date. You need to write or call us to request for the reinstatement. We will send a Personal Health Declaration (Reinstatement) form and you need to pay all outstanding contributions. However, the acceptance of your reinstatement request is subject to the health underwriting at the time of your request. 6. How do I make a nomination for this plan? You are advised to complete the nomination details in the application form. Alternatively, you can complete the nomination form from our webpage, submit to us via mail or walk in to our office and submit your form. PART F : OTHER INFORMATIONS 1. What are the documents I will receive after participating in e-term Takaful Cover? You will receive by ordinary mail to your address provided in the proposal form a Takaful pack which consists of: a) Cover Letter; b) Takaful Schedule; c) Takaful Certificate - that provides the terms and conditions of the contract for the Takaful coverage; d) copy of your completed Proposal Form; e) copy of the Product Illustration; f) copy of Product Disclosure Sheet; and g) copy of Privacy Notice The Takaful Certificate will be issued within 7 working days from the date of the Takaful Operator s acceptance of the proposal, receipt of all the relevant documentation and full contribution in respect of the proposal, whichever is later. Note: Period of coverage begins according to the date stated in your Takaful Schedule.
2. What are the statements & reports Takaful Operator will send to you? a) Certificate Contribution Statements b) Surplus Distributable Notification Letter c) Certificate Annual Statements/ Tax invoice The Annual Statement shall be distributed after the end of each financial year. 3. Where can I get further information? Should you require additional information about Family Takaful plans, please refer to the insurance info booklet on Family Takaful, available at all HSBC Bank Malaysia Berhad ("HSBC") or HSBC Amanah Malaysia Berhad ("HSBC Amanah") branches or visit www.insuranceinfo.com.my or www.islamicfinanceinfo.com.my If you have any enquiries, please contact Takaful Operator at: HSBC Amanah Takaful (Malaysia) Berhad (Company No. 731530-M) 8th Floor, North Tower, No. 2, Leboh Ampang, 50100 Kuala Lumpur. Call Centre at 1-800-88-9659 Fax No.: 03-2031 0833 Click www.takaful.hsbcamanah.com.my