LIFE INSURANCE
Life Insurance
Life insurance in Malaysia is regulated by Bank Negara Malaysia by law. The laws are The Financial Services Act 2013 (FSA) and the Islamic Financial Services Act 2013 (IFSA). The Civil Law Act 1956 includes provisions for the payment of life insurance proceeds.
We provides conventional and Islamic life insurance products and policies in Malaysia as governed by these regulations and laws.
Our Life Planners are licensed and qualified individuals. Every Life Planners has a unique code that represents the Company. We are part of Life Insurance Association of Malaysia (LIAM).
Term Life Insurance
What is Term Life Insurance?
Term life insurance is paid on death of the insured person. It is the cheapest and most basic form of life protection insurance. Only the listed beneficiary gets the proceeds of this policy. There is no savings component, no money back component. Only a lump sum payment death benefit. Maximum age coverage is 80 years old, subject to plan selected.
Our Term life insurance policy does cover total and permanent disability with an add on disability rider. In the event the insured is disabled permanently, there is a payout.
What is Investment Linked Life Insurance?
Investment-linked life insurance is paid on death, permanent disability or maturity of the policy. It even has a surrender value, where you get back a portion of your savings if you intend to terminate the insurance policy.
This investment linked life insurance policy plan is linked to investment funds run by professional fund managers to deliver higher returns.
The investment-linked life insurance plan starts with a higher baseline coverage amount of RM500,000 and subject to a maximum of RM4 million without a medical checkup required.
Families or businesses seeking to protect their financial strength and financial legacies often choose this option.
Retirement Needs
When do you need to plan for Retirement?
Retirement is when everything changes. Once you’re retired, you typically don’t need disability or life insurance to replace your wages. You’ll be living off other sources of income – your savings or any pensions. In the midst of all these exciting changes, don’t overlook at your insurance coverage. With a new season of life at hand, old policies may no longer meet your needs.
The pool of funds is invested on the employee’s behalf, and the earnings on the investments generate income to the worker upon retirement.
Pension Plan
A pension plan for your retirement needs may have you make a monthly payment of a set percentage, but the largest portion of the payment will come from your employer.
The pension plan guarantees you a certain amount of money each month once you reach retirement age.
The pension plan has both positive and negative aspects.
When you are working for the government, you may not have much choice in the type of retirement needs plan you are offered. It is very important to understand each of the specific details related to your pension plan.
Most employers out there may offer an annual seminar or workshop on the plan or go over the specific details of the plan during orientation. If you are unsure of the type of pension plan that you are getting, and whether or not the plan is funded which means money being set aside to pay you benefits later or unfunded, talk to a human resource spokesperson.
Once you understand all the aspects of the plan, then you will be able to make retirement planning decisions for you to retire comfortably.
