Zurich Takaful Malaysia Berhad (ZTMB) has recently introduced its latest family takaful plan, Executive20, which offers customers guaranteed protection as well as annual cash payment benefits for a coverage term of 20 years or 30 years.
Executive20 provides guaranteed takaful coverage to its participants up to age 90 years. Anyone between the ages of 30 days old to 65 years old is eligible to participate, on the condition that the applicant is at least 16 years of age.
“It is evident that Malaysians are finding it hard to save in today’s challenging economic environment based on the fact that 50% of urban households in Malaysia do not have any form of financial savings. Hence, we developed Executive20 as an ideal plan to help those looking to grow their savings whilst securing adequate protection against unfortunate events.”
“With the annual cash payout benefit, customers can decide to use it for what truly matters to them, be it family holidays, celebrating special occasions or saving it for other immediate needs,” explained Salim Majid Zain, Chief Executive Officer of ZTMB on the rationale behind the introduction of its latest family takaful plan.
Key benefits and features of Executive20 include:
Guaranteed Takaful Coverage – Guaranteed death benefit up to age 90 and guaranteed total permanent disability (TPD) benefit up to age 75.
Annual Cash Payment of up to 6% of Basic Sum Covered – Earn annual cash payouts from the Participant Risk Investment Account (PRIA) from the end of second certificate year and annually thereafter until certificate maturity with the options to choose from 2%, 4% or 6% of the basic sum covered.
Maturity Benefit – Upon certificate maturity, participants will receive maturity benefit equal to the Participant Investment Account (PIA) value.
Enhanced Coverage with Supplementary Benefits – Participants have the option to optimise their protection against unexpected events such as critical illnesses (CI), death or TPD by attaching additional riders which includes payor benefit, level term and waiver of contribution for CI.
Conversion to other Family Takaful plans – Participants are able to extend and convert their protection to other selected Zurich Takaful plans upon certificate maturity without having to present any medical evidence.
Additionally, Executive20 provides a value-added option for participants wishing to fulfil their religious aspirations (Badal Hajj, Qurban, Waqaf and Amal) under the Amanah Trust Programme which is managed by Amanah Raya Berhad.
For more information on Executive20 or ZTMB’s diverse range of family takaful solutions, please contact Zurich Takaful Customer Care line at 03- 6287 6666 or visit www.zurich.com.my.
Source: State of Households II report by Khazanah Research Institute