|
Takaful MyGenius
An Individual Family Takaful plan with defined monthly contributions for specific terms that offers maturity benefit at the end of the Takaful period as well as survival benefit to assist parents to plan for their children's future education. It also acts as a regular saving vehicle at an affordable contribution amount. The education fund will be payable on a staggered basis of 20%, 30% and 50% of the Sum Covered starting two (2) years prior to the maturity. These payments can be scheduled to coincide when the child starts to enter their higher educational institution.
This is an adult plan (no coverage provided to the child). The parents will be the Participants to this plan and they will nominate the children who will be the beneficiaries.
Why Takaful MyGenius?
Affordable Contribution
You can now create as Education Fund for your children starting from only RM50, RM75 or RM100 per month! Choose the plan that suits you and make your contribution on monthly, quarterly, half-yearly or yearly basis.
Sum Covered for Contributions of RM50 per month only
Term of Period (Years) |
Age |
20 |
25 |
30 |
35 |
40 |
45 |
50 |
10 |
4,500 |
4,500 |
4,500 |
4,500 |
4,500 |
4,500 |
4,500 |
11 |
5,000 |
5,000 |
5,000 |
5,000 |
5,000 |
5,000 |
5,000 |
12 |
5,000 |
5,000 |
5,000 |
5,000 |
5,000 |
5,000 |
4,500 |
13 |
5,500 |
5,500 |
5,500 |
5,500 |
5,500 |
5,500 |
5,000 |
14 |
6,500 |
6,500 |
6,500 |
6,500 |
6,000 |
6,000 |
6,000 |
15 |
7,000 |
7,000 |
7,000 |
7,000 |
7,000 |
6,500 |
6,500 |
16 |
7,500 |
7,500 |
7,500 |
7,500 |
7,500 |
7,500 |
7,000 |
17 |
8,500 |
8,500 |
8,500 |
8,500 |
8,000 |
8,000 |
7,500 |
18 |
9,000 |
9,500 |
9,000 |
9,000 |
9,000 |
8,500 |
8,000 |
19 |
10,000 |
10,000 |
10,000 |
10,000 |
9,500 |
9,500 |
8,500 |
20 |
11,000 |
11,000 |
11,000 |
10,500 |
10,500 |
10,000 |
9,000 |
21 |
12,000 |
12,000 |
12,000 |
11,500 |
11,500 |
10,500 |
- |
22 |
13,000 |
13,000 |
12,500 |
12,500 |
12,000 |
11,500 |
- |
23 |
14,000 |
14,000 |
13,500 |
13,500 |
13,000 |
12,000 |
- |
Please refer to Sales Illustration for further details.
Sum Covered for Contributions of RM75 per month only
Term of Period (Years) |
Age |
20 |
25 |
30 |
35 |
40 |
45 |
50 |
10 |
8,000 |
8,000 |
8,000 |
8,000 |
8,000 |
8,000 |
7,500 |
11 |
9,000 |
9,000 |
9,000 |
9,000 |
9,000 |
9,000 |
8,500 |
12 |
10,500 |
10,500 |
10,500 |
10,500 |
10,000 |
10,000 |
9,500 |
13 |
11,500 |
11,500 |
11,500 |
11,500 |
11,500 |
11,000 |
10,500 |
14 |
12,500 |
12,500 |
12,500 |
12,500 |
12,500 |
12,000 |
11,500 |
15 |
14,000 |
14,000 |
14,000 |
14,000 |
13,500 |
13,500 |
12,500 |
16 |
15,000 |
15,000 |
15,000 |
15,000 |
15,000 |
14,500 |
12,500 |
17 |
16,500 |
16,500 |
16,500 |
16,500 |
16,000 |
15,500 |
13,500 |
18 |
18,000 |
18,000 |
18,000 |
18,000 |
17,500 |
17,000 |
14,500 |
19 |
19,500 |
19,500 |
19,500 |
19,000 |
18,500 |
17,000 |
15,500 |
20 |
21,000 |
21,000 |
21,000 |
20,500 |
19,000 |
18,000 |
16,500 |
21 |
21,000 |
21,000 |
21,000 |
21,000 |
20,500 |
19,500 |
- |
22 |
23,000 |
23,000 |
22,500 |
22,500 |
21,500 |
20,500 |
- |
23 |
24,500 |
24,500 |
24,500 |
24,000 |
23,500 |
22,000 |
- |
Please refer to Sales Illustration for further details.
Sum Covered for Contributions of RM100 per month only
Term of Period (Years) |
Age |
20 |
25 |
30 |
35 |
40 |
45 |
50 |
10 |
11,500 |
11,500 |
11,500 |
11,500 |
11,500 |
11,500 |
11,000 |
11 |
13,000 |
13,000 |
13,000 |
13,000 |
13,000 |
13,000 |
12,500 |
12 |
14,500 |
14,500 |
14,500 |
14,500 |
14,500 |
14,500 |
14,000 |
13 |
16,500 |
16,500 |
16,500 |
16,500 |
16,000 |
16,000 |
15,500 |
14 |
18,000 |
18,000 |
18,000 |
18,000 |
18,000 |
17,500 |
17,000 |
15 |
20,000 |
20,000 |
20,000 |
20,000 |
19,500 |
19,000 |
18,500 |
16 |
21,500 |
22,000 |
21,500 |
21,500 |
21,500 |
20,500 |
20,000 |
17 |
23,500 |
23,500 |
23,500 |
23,500 |
23,000 |
22,500 |
21,500 |
18 |
25,500 |
25,500 |
25,500 |
25,500 |
25,000 |
24,000 |
22,500 |
19 |
27,500 |
27,500 |
27,500 |
27,500 |
27,000 |
26,000 |
24,000 |
20 |
29,500 |
30,000 |
29,500 |
29,500 |
28,500 |
27,500 |
24,500 |
21 |
32,000 |
32,000 |
32,000 |
31,500 |
31,000 |
29,500 |
- |
22 |
34,500 |
34,500 |
34,500 |
34,000 |
33,000 |
29,500 |
- |
23 |
37,000 |
37,000 |
37,000 |
36,500 |
33,500 |
31,500 |
- |
Please refer to Sales Illustration for further details.
Flexible Tenure
You can choose a minimum of (10) years or up to 23 years, subject to a maximum age of 70 years old on next birthday.
Hassle-Free Auto Debit of Monthly Contributions
Your monthly contributions are automatically debited from your Credit Card (Visa/MasterCard).
3 Key Benefits of Takaful MyGenius
• |
Survival & Maturity Benefit |
| |
Upon surviving to a certain certificate year, a staggered survival benefit in the form of "hibah" or gift, will be payable to the Participant as follow: |
| |
|
|
Certificate Year |
n-2 |
n-1 |
n |
% of Sum Covered |
20 |
30 |
50 |
|
| |
Note: n is the Takaful period |
| |
|
• |
Death or Total Permanent Disability Benefit |
| |
If Death* or Total Permanent Disability occurs, a total Sum Covered plus Participant Accumulated Surplus, if any, will be payable to a Trustee appointed by Etiqa Takaful Berhad. The Trustee will manage this benefit until the fund can be used for the child's tertiary education. |
| |
|
| |
*If the Participant, while sane, commits suicide, Etiqa Takaful Berhad's liability shall be limited to the refund of the Contribution made if suicide is committed within one (1) year from the Issue Date or any Reinstatement Date of the Certificate; or payment of sixty percent (60%) of the Sum Covered if suicide is committed after one (1) year from the Issue Date or any Reinstatement Date of the Certificate. |
|
| |
|
• |
Funeral Expenses Benefit |
| |
An additional of RM1,000 on top of the Sum Covered is payable upon death for funeral expenses upon satisfactory proof of death. |
| |
|
| |
Example:
Mr. Ahmad, 35 years old, takes up Takaful MyGenius with RM100 monthly contribution for 19 years with his son, age one (1) year old as the nominee. |
At the end of the Takaful Period, Mr. Ahmad will receive the following:
Certificate Year |
Takaful Benefits |
Workings |
17 |
RM5,500 |
20% of RM27,500 |
18 |
RM8,250 |
30% of RM27,500 |
19 |
RM13,750 (plus PAS, if any) |
50% of RM27,500 |
PAS: Participant Accumulated Surplus
Wakalah Fee amount to be deducted from the contributions are as follow:
Certificate Year |
Wakalah Fee |
Percentage of Contribution |
Annual Fee Per Certificate |
1 |
37% |
RM240 |
2 - 3 |
18% |
RM60 |
4 - 10 |
8% |
RM60 |
11 onwards |
3% |
RM60 |
The above Wakalah Fee rate is only applicable for Takaful period of twenty (20) years and above. The Wakalah Fee rate will vary by the Certificate term. Wakalah Fee is used to pay for the agent's commission and management expenses.
Frequently Asked Questions (FAQs)
Why should I Participate in Takaful MyGenius? |
This plan offers you and your nominated child a Takaful coverage plus funeral expenses for your family's peace of mind. |
|
| |
Who is eligible to participate? |
Individual between the ages of 18 to 50 years, who are currently residing in Malaysia, regardless of race and religion are eligible to apply. |
| |
| When does my Takaful coverage begin? |
| The Takaful coverage begins upon approval of your proposal and receipt of initial contribution payment by Etiqa Takaful Berhad. |
| |
| Will my contributions increase as I get older? OR Will my contribution increases as I get older? |
| No. As long as your certificate remains in force, there will be no increase in your contributions. |
| |
| Will I get anything upon maturity of the Takaful Plan? |
| Yes. Upon maturity of the Takaful Plan, you will receive a fixed percentage of the Sum Covered, depending on the Takaful period in a form of "hibah" of gift plus Participant Accumulated Surplus, if any. |
| |
| What will happen if I fail to pay my monthly contributions? |
| You are given a grace period of thirty one (31) days from the contribution due date and if the contribution remains unpaid at the end of the grace period, the certificate shall lapse. |
| |
| What is the distribution of surplus percentage? |
| The entitlement and distribution of surplus between Etiqa Takaful Berhad and Participant is 50% and 50% respectively. The surplus is accumulated and will be payable on Death, Total Permanent Disablement, or at Maturity, whichever occurs first. |
| |
| How do I participate? |
| Please visit our nearest Bank Muamalat Branches. |
| |
| How do I make a claim? |
| You can visit our nearest Bank Muamalat Branches for claims assistance. |
This certificate may qualify you for personal tax relief subject to the final decision of the Inland Revenue Board Malaysia.
|
