Professional Documents
Culture Documents
Name
XXX
Plan
Income Provider (20P30E)
Presented By
SYLVIANA UGAU (SUPER)
Date
05 Nov 2015
1.
Pursuant to Paragraph 5 Schedule 9 of the Financial Services Act 2013, if you are applying for this insurance wholly for purposes unrelated to your trade, business or
profession, you have a duty to take reasonable care not to make a misrepresentation in answering the questions required when applying to Allianz Life Insurance Malaysia
Berhad (ALIM) and in addition disclose any other matter that you know to be relevant to ALIMs decision in accepting the risks and determining the rates and terms to be
applied.
2.
Pursuant to Paragraph 4(1) Schedule 9 of the Financial Services Act 2013, if you are applying for this insurance for purposes related to your trade, business or profession, you
have a duty to disclose any matter that you know to be relevant to ALIMs decision in accepting the risks and determining the rates and terms to be applied and any matter a
reasonable person in the circumstances could be expected to know to be relevant.
3.
This duty of disclosure for Consumer and Non-Consumer Insurance Contract shall continue until the time the contract is entered into, varied or renewed.
4.
It is important to notify ALIM of any change in contact details, including the mailing address, mobile phone no., the nominee and/or trustee.
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Client Name
: XXX
Sex
: Male
: 27
Smoker
: Non-Smoker
Premium Mode
: Monthly
Occupation Class
: 2
: 31,000.00
: 460.35
AGENT PARTICULARS
Agent Name
PLAN DESCRIPTION
I.
Plan Name
Coverage Term
Sum Assured/Benefit
(RM)
BASIC
30
31,000.00
Premium
(RM)
460.35
RIDERS
TOTAL PREMIUM
TOTAL GST
TOTAL PREMIUM (INCLUSIVE OF GST)
460.35
0.00
460.35
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Premium Payable
First 20 Years
Above 21 Years
Annually
Half Yearly
Quarterly
Monthly
(RM)
(RM)
(RM)
(RM)
5,115.00
2,659.80
1,355.48
460.35
0.00
0.00
0.00
0.00
IMPORTANT:
This is a summary illustration of projected benefits. It is intended to show the movements of possible cash flows for the investment and the impact of fees and charges on
Account Value based on illustration shown.
The projected returns used below are for illustrative purposes and not meant to show possible returns of investment. They are neither guaranteed nor based on past
performance.
The actual return may be even below the projected returns.
The above sales illustration includes the amount for Goods and Services Tax (GST) for applicable taxable supply. We will charge the relevant GST amount at 6% or at the prevailing
rate on the applicable portion of your insurance premium/fee/charges for the applicable period of insurance coverage from the GST implementation date onwards.
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This is a Modified Anticipated Endowment Universal Life Plan that matures at the end of 30th policy year with 20 years premium payments term. The plan provides insurance
coverage upon death or Total and Permanent Disability of the Life Assured as well as Guaranteed Cash Payments from the end of 2nd policy year onwards.
a.
Death Benefit
Upon death of the Life Assured, the higher of the Prevailing Sum Assured or Account1 Value (as shown in illustration) shall be payable together with any remaining Account2
Value and accumulated Guaranteed Cash Payments deposited with the Company. The Prevailing Sum Assured payable shall be subject to the juvenile lien rule (as specified in the
table below). Thereafter, the policy shall terminate.
b.
Upon suffering Total and Permanent Disability, the higher of the Prevailing Sum Assured or Account1 Value (as shown in illustration) of up to a maximum of RM4 million (per Life
Assured) shall be payable together with any remaining Account2 Value and accumulated Guaranteed Cash Payments deposited with the Company provided:
i)
ii)
The Prevailing Sum Assured shall be subject to the juvenile lien rule (as specified in the table below). Thereafter, the policy shall terminate.
Juvenile Lien Rule Table:
Age of Life Assured at Death or TPD
15 days - 5 months
Return of Premium
6 months - 12 months
36.0%
53.5%
71.5%
89.5%
100.0%
13 months - 24 months
25 months - 36 months
37 months - 48 months
49 months and above
c.
Surrender Benefit
The Account1 Value less surrender charge plus any remaining Account2 Value and accumulated Guaranteed Cash Payments deposited with the Company shall be payable upon
surrender. The policy shall thereafter terminate upon payment of the surrender value.
d.
Maturity Benefit
The policy will mature at the end of 30th policy year. Provided all premiums due and interest charged on late premium payment are paid, the higher of the Prevailing Sum
Assured or Account1 Value shall be payable together with any remaining Account2 Value and accumulated Guaranteed Cash Payments deposited with the Company upon policy
maturity. If any premium due and interest charged on late premium payment are not paid before the policy matures, only Account1 Value together with any remaining Account2
Value and accumulated Guaranteed Cash Payment deposited with the Company shall be payable. Thereafter, the policy shall terminate.
e.
The Policy Owner may select one (1) of the following options by giving a written notice to the Company:
i) to deposit the Guaranteed Cash Payments with the Company to accumulate with interest at a rate to be determined by the Company which may vary from year to year; or
ii) To deposit the Guaranteed Cash Payment with the Company to be reinvested in the Policy Account2
In the event no option is elected, option (i) shall automatically apply.
Any remaining Account2 Value and accumulated Guaranteed Cash Payment deposited with the Company will be paid upon surrender, maturity, lapsation, Total and Permanent
Disability or death of the Life Assured, whichever is earlier.
f.
Investment Strategy
Surplus Participation
This plan does not participate in the divisible surplus of the Company's life insurance business.
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: XXX
BASIC PLAN ILLUSTRATION
To deposit the Guaranteed Cash Payment with the Company to accumulate with interest
End of
Policy
Year
GUARANTEED
Premium Paid at
Beginning of Year
Guaranteed Cash
Payment
Death Benefit
(a)
(b)
(c)
SCENARIO A
SCENARIO B
SCENARIO A
SCENARIO B
SCENARIO A
(d)
(e)
(f)
(g)
(h)
Age at
End of
Year
SCENARIO B
(i)
5,524.20
31,000
840
826
31,000
31,000
28
5,524.20
1,240
31,000
1,240
1,240
3,831
3,739
32,240
32,240
29
5,524.20
1,240
31,000
2,536
2,511
7,579
7,321
33,536
33,511
30
5,524.20
1,240
31,000
3,890
3,814
11,844
11,304
34,890
34,814
31
5,524.20
1,240
31,000
5,305
5,149
17,544
16,538
36,305
36,149
32
5,524.20
1,240
31,000
6,784
6,518
23,073
21,465
37,784
37,518
33
5,524.20
1,550
31,000
8,639
8,231
29,476
27,080
39,639
39,231
34
5,524.20
1,550
31,000
10,578
9,987
36,244
32,854
41,578
40,987
35
5,524.20
1,550
31,000
12,604
11,786
43,398
38,791
45,122
42,786
36
10
5,524.20
1,550
31,000
14,721
13,631
50,959
44,898
52,987
46,648
37
11
5,524.20
1,860
31,000
17,243
15,832
58,961
51,191
61,296
53,170
38
12
5,524.20
1,860
31,000
19,879
18,087
67,409
57,657
70,069
59,871
39
13
5,524.20
1,860
31,000
22,634
20,400
76,328
64,299
79,334
66,756
40
14
5,524.20
1,860
31,000
25,512
22,770
85,745
71,122
89,116
73,829
41
15
5,524.20
1,860
31,000
28,520
25,199
99,447
81,095
99,447
81,095
42
16
5,524.20
1,860
32,550
31,664
27,689
110,358
88,560
110,358
88,560
43
17
5,524.20
1,860
34,100
34,949
30,241
121,880
96,230
121,881
96,230
44
18
5,524.20
1,860
35,650
38,381
32,857
134,050
104,110
134,050
104,110
45
19
5,524.20
1,860
37,200
41,969
35,539
146,904
112,206
146,905
112,206
46
20
5,524.20
1,860
38,750
45,717
38,287
160,481
120,523
160,481
120,523
47
25
0.00
1,860
46,500
67,147
53,095
194,016
137,444
194,016
137,444
52
30
0.00
1,860
54,250
93,853
69,849
235,210
156,631
235,209
156,631
57
54,250
93,853
69,849
235,209
156,631
Maturity Benefit:
Guaranteed Cash Payment left with the Company are illustrated to be accumulated at 4.50% (Scenario A)/ 2.50% (Scenario B) net of tax, per annum.
The projected Total Surrender Value illustrated above has been subject to the Surrender Charge. (f)=(p)+(r) after surrender charge, (g)=(q)+(s) after surrender charge.
The projected Total Death Benefit illustrated above for (h) = Higher of {(c) or (r)} + (d), (i) = Higher of {(c) or (s)} + (e).
The projected Maturity Benefit illustrated above for (h) = Higher of {(c) or (r)} + (d), (i) = Higher of {(c) or (s)} + (e).
Note:
1
The Guaranteed Cash Payment will be deposited with the Company to accumulate with interest at a rate to be determined by the Company which may vary from year to year. The actual interest rate may be higher or lower depending on the Company's investment earnings and operational
results. The accumulation rate assumed here ARE NOT the upper or lower limit of what you might get as the value of your policy depends on a number of factors including future investment performance.
2
Guaranteed Cash Payment due will only be payable if all premiums due and any interests charged on late premium payment are paid at the end of each policy year.
3
If any premiums due and interests charged on late premium payment are not paid before policy maturity date, only Account1 Value plus any remaining Account2 Value and accumulated Guaranteed Cash Payment deposited with the Company shall be payable.
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Client Name
End of
Policy
Year
Premium Paid at
Beginning of Year
Guaranteed Cash
Payment
(j)=(a)
(k)=(b)
SCENARIO B
(l)
(m)
Policy Fee*
Premium Charge
(n)
(o)
Account1 Value
SCENARIO A
SCENARIO B
SCENARIO A
(p)=(d)
(q)=(e)
(r)
Age at
End of
Year
SCENARIO B
(s)
5,524.20
38
38
89
4,364
1,066
1,049
28
5,524.20
1,240
37
37
89
2,486
1,240
1,240
2,898
2,795
29
5,524.20
1,240
35
35
89
1,713
2,536
2,511
5,641
5,380
30
5,524.20
1,240
31
32
89
1,381
3,890
3,814
8,897
8,378
31
5,524.20
1,240
27
28
89
829
5,305
5,149
12,924
12,026
32
5,524.20
1,240
22
24
89
829
6,784
6,518
17,201
15,783
33
5,524.20
1,550
17
19
89
276
8,639
8,231
22,003
19,904
34
5,524.20
1,550
11
14
89
276
10,578
9,987
27,103
24,147
35
5,524.20
1,550
89
276
12,604
11,786
32,518
28,517
36
10
5,524.20
1,550
89
276
14,721
13,631
38,266
33,017
37
11
5,524.20
1,860
89
276
17,243
15,832
44,053
37,338
38
12
5,524.20
1,860
89
276
19,879
18,087
50,190
41,784
39
13
5,524.20
1,860
89
276
22,634
20,400
56,700
46,356
40
14
5,524.20
1,860
89
276
25,512
22,770
63,604
51,059
41
15
5,524.20
1,860
89
276
28,520
25,199
70,927
55,896
42
16
5,524.20
1,860
89
276
31,664
27,689
78,694
60,871
43
17
5,524.20
1,860
89
276
34,949
30,241
86,932
65,989
44
18
5,524.20
1,860
89
276
38,381
32,857
95,669
71,253
45
19
5,524.20
1,860
89
276
41,969
35,539
104,936
76,667
46
20
5,524.20
1,860
89
276
45,717
38,287
114,764
82,236
47
25
0.00
1,860
89
67,147
53,095
126,869
84,349
52
30
0.00
1,860
89
93,853
69,849
141,356
86,782
57
141,356
86,782
Maturity Benefit:
Guaranteed Cash Payment left with the Company are illustrated to be accumulated at 4.50% (Scenario A)/ 2.50% (Scenario B) net of tax, per annum.
The projected Maturity Benefit illustrated above for (h) = Higher of {(c) or (r)} + (d), (i) = Higher of {(c) or (s)} + (e).
Note:
The Guaranteed Cash Payment will be deposited with the Company to accumulate with interest at a rate to be determined by the Company which may vary from year to year. The actual interest rate may be higher or lower depending on the Company's investment earnings and operational
1
results. The accumulation rate assumed here ARE NOT the upper or lower limit of what you might get as the value of your policy depends on a number of factors including future investment performance.
2
Guaranteed Cash Payment due will only be payable if all premiums due and any interests charged on late premium payment are paid at the end of each policy year.
If any premiums due and interests charged on late premium payment are not paid before policy maturity date, only Account1 Value plus any remaining Account2 Value and accumulated Guaranteed Cash Payment deposited with the Company shall be payable.
*The above sales illustration includes the amount for Goods and Services Tax ("GST") for applicable taxable supply. We will charge the relevant GST amount at 6% or at the prevailing rate on the applicable portion of your insurance premium/fee/charges for the applicable period of insurance
coverage from the GST implementation date onwards.
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: XXX
Sex
: Male
: 27
Smoker
: Non-Smoker
ACCOUNT VALUE
Account1 Value refers to the value in your Policy Account1. Account2 Value refers to the value in your Policy Account2.
The basic premiums you (policy owner) elect to pay under the basic policy (excludes extra premiums paid due to medical and/or occupational loading and premiums paid for
riders) less Premium Charge are allocated to the Policy Account1. The Company may invest the assets of the Policy Account in any manner it chooses. Income generated from
the assets investment of all Policy Account after deducting the investment tax and Crediting Spread (see below - under Charges) will be credited to the respective Policy
Account in the form Crediting Rate. The Crediting Rate is not guaranteed and is dependent on the investment return. A positive Crediting Rate can result in an appreciation of
the Account Value, while a negative Crediting Rate can result in a reduction of the Account Value. The Crediting Rate will be credited to the Policy Account once every month
and is subject to the Company sole and absolute discretion. Crediting Rate may be determined more frequently than once a month. The Policy Fee and Cost of Insurance are
deducted from the Account1 Value every month, while Guaranteed Cash Payments are deducted from the Account1 Value when they are paid to the policy owner as the
option elected by the policy owner or the defaulted option. This illustration shows the Account Value as of the end of each illustrated policy year.
The Guaranteed Cash Payment deposited in Policy Account2 can be withdrawn at anytime.
PREMIUM PAID
This is the amount that you (policy owner) pay annually for this policy. This amount is based on standard life and may vary depending on the underwriting requirement.
BASIC SUM ASSURED
This is the amount that will be used to compute the Prevailing Sum Assured and Guaranteed Cash Payments.
CHARGES
Cost of Insurance rates are deducted monthly from the Policy Account1. The Cost of Insurance rates vary by the attained age, and gender of the Life Assured.
Other Charges
a.
Policy Fee^
b.
Current Amount
Maximum Amount
Premium Charge
The Premium Charge shall be deducted from the premiums payable under the basic policy.
Policy Year
79.00%
45.00%
31.00%
25.00%
15.00%
5.00%
2
3
4
5 to 6
7 and above
Premium Charge is used to pay commission to the intermediaries and expenses incurred by the Company.
c.
Surrender Charge^
A Surrender Charge will be imposed on the Account1 Value upon surrender of basic policy.
d.
1
2 to 4
5 to 14
15 and above
21.20
10.60
5.30
Nil
Crediting Spread
A Crediting Spread will be deducted from the investment income of assets in respect of Policy Account to pay for the investment expenses and the charge of risk
exposure arising from this plan. The Crediting Spread deducted is depending on the investment return which is shown as below.
Gross Investment Return per month before tax
0.0333%
0.333% to 0.415%
0.0667%
0.416% to 0.499%
0.0833%
0.500% to 0.582%
0.0833%
0.583% to 0.665%
0.0833%
0.0958%
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Scenario B
5.90%
3.60%
2.82%
10
11
12
Crediting Rate
2.00%
1.00%
-3.00%
-1.00%
2.00%
2.00%
1.00%
1.00%
-2.00%
-1.00%
1.00%
1.00%
Another example, the annual Crediting Rate can be -3.00%, while the monthly Crediting Rate can be
Month
10
11
12
Crediting Rate
-1.00%
-1.00%
1.00%
1.00%
2.00%
1.00%
-2.00%
-3.00%
-2.00%
-1.00%
1.00%
1.00%
Crediting Rate is credited every month and is determined based on that particular month of investment return after deducting investment tax and Crediting Spread. The
Company may determine the Crediting Rate more frequently than once a month.
The Account Value may fall below the amount of the premiums paid and depends on the credited Crediting Rate.
The projected benefits shown are for ILLUSTRATION ONLY AND AS A GUIDANCE to policy owner on the movement of possible cash flows.
Notes:
1.
Allianz Life Insurance Malaysia Berhad believes it is important that you fully appreciate all the benefits in your policy, and that you also understand how the cost of the
insurance protection, distribution, administration, investment and other costs affect these benefits.
2.
You should satisfy yourself that this plan serves your needs and that you can afford to pay the premium. If you need clarification, please contact us or your agent.
3.
This is not a contract of insurance, the full terms and conditions of this plan are set out in the policy contract.
4.
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(Read this Product Disclosure Sheet before You decide to take up Income Provider (20P30E). Be sure to also read the general terms and conditions.)
Financial Service Provider:
Product Name:
1.
This is an endowment plan that matures at the end of thirty (30) policy year with a twenty (20) years premium payment term.
This plan provides:
(a)
Insurance coverage upon death or Total and Permanent Disability (TPD)* of a Life Assured
(b)
Guaranteed Cash Payment (GCP) from the end of second (2nd) Policy year onwards
(c)
Maturity Benefit
Death or TPD*: Higher of the Prevailing Insured Amount or Account1 Value (as shown in illustration) together with any remaining Account2 Value and
accumulated Guaranteed Cash Payment deposited with Us shall be payable. You may refer to the Guaranteed Death Benefit column in the sales illustration for
the Prevailing Insured Amount schedule.
* Prior to Life Assured attaining age sixty-five (65) years old (nearest birthday) on the Policy Anniversary and subject to a maximum Insured Amount of RM4 million per life.
Lien Rule:
Where the age of the Life Assured is less than forty-nine (49) months at the time of death or TPD, the amount payable under this plan shall be as follows:
Age of Life Assured at the time of Death or TPD
15 days - 5 months
Return of Premium
6 months - 12 months
36.00%
53.50%
71.50%
89.50%
100.00%
13 months - 24 months
25 months - 36 months
37 months - 48 months
49 months and above
RM 31,000.00
Maturity Benefit:
The higher of the Prevailing Insured Amount or Account1 Value. Any remaining Account2 Value and accumulated
Guaranteed Cash Payment deposited with Us shall be payable. You may refer to the Maturity Benefit** column in the
sales illustration for the Prevailing Insured Amount at maturity.
** Please refer to the terms and conditions of the Maturity Benefit in Point 5 (ix) below.
(ii)
3.
4.00%
5.00%
6.00%
During the premium payment term, the basic Policy for this plan will not lapse in the event the Account1 Value is
insufficient to deduct the cost of insurance and Policy fee when they are due provided that all premiums due are paid
no later than thirty one (31) days from the premium due date. The Conditional No Lapse Guarantee feature will be
forfeited if any premium due remains unpaid after the expiry of thirty one (31) days from the premium due date.
The premium that You have to pay and the Policy terms may vary depending on Our underwriting requirements.
(i)
The premium that You have to pay based on standard risk are as follows:
(ii)
Policy Year
Annually
Half Yearly
Quarterly
Monthly
RM5,115.00
RM2,659.80
RM1,355.48
RM460.35
RM0.00
RM0.00
RM0.00
RM0.00
The premium payment term for this plan is twenty (20) years.
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The insurance coverage charges are deducted monthly from the Account1 Value. The insurance charges will increase as You grow older. Other charges for this plan are
as follows. You may refer to the sales illustration for the details of insurance charges.
Premium Charge
Policy Year
79.00
45.00
31.00
25.00
15.00
5.00
1
2
3
4
5 to 6
7 and above
Policy Fee^
Surrender Charge^
Current Amount
Maximum Amount
Surrender Charge
(as (%) of Account1 Value)
21.20
10.60
5.30
5.30
Nil
2 to 4
5 to 9
10 to 14
15 and above
Market Value Adjustment (MVA) may be applied to the surrender value during adverse
investment markets.
Crediting Spread
0.0333%
0.333% to 0.415%
0.0667%
0.416% to 0.499%
0.0833%
0.500% to 0.582%
0.0833%
0.583% to 0.665%
0.0833%
0.0958%
The maximum Crediting Spread is 0.1250% per month. We reserve the right to revise the
cost of insurance rates, surrender charge, the maximum Policy fee and crediting spread by
giving You at least three (3) months prior written notice and any changes to the cost of
insurance rates, surrender charge and the maximum Policy fee will take effect on the next
Policy Anniversary.
^The Fees and Charges shown are inclusive of GST. We will charge the relevant GST amount at 6% or at the prevailing rate on your Fees and Charges for the applicable
period of insurance coverage from the GST implementation date onwards.
5.
What are some of the key terms and conditions that I should be aware of?
(i)
Importance of disclosure- You must disclose all material facts such as medical condition and state Your age correctly. You should also provide sufficient and
accurate information to enable Us to advise You on the suitability of the plan taking into consideration the appropriateness of the plan to Your needs and
circumstances.
(ii)
Free-look period - You may cancel Your Policy by giving Us a written request and by returning this Policy to Us within fifteen (15) days or such longer period as
may be specified by Bank Negara Malaysia, from the date of receipt of the Policy by You. We will refund to You the Account Value, premium charge, cost of
insurance, Policy fee, extra premium and rider premium (if any) less any medical fee incurred.
(iii)
Account Value - The Account Value of this plan depends on the credited Crediting Rate. Future Crediting Rates are not guaranteed and vary according to investment
results experienced by Us. The Crediting Rate will be credited to the Policy Account once every month and We may determine the Crediting Rate more frequently
than once a month. A higher Crediting Rate may be credited if the investments have performed well and conversely, a lower or negative Crediting Rate may be
credited if the investments have performed poorly. A negative Crediting Rate will result in a reduction in Your Account Value. The Crediting Rate over a medium to
longer term is likely to be positive. However, it is possible to have a negative Crediting Rate over a longer term or in any particular month.
When the Account1 Value of Your Policy Account1 is insufficient to pay for the insurance and other charges for the Policy when due, You will be given a grace
period of thirty one (31) days from the premium due date to pay Your premium, during which period Your Policy shall remain in force. If any premium remains
unpaid at the end of the grace period, Your Policy shall lapse at the end of the grace period. Any rider(s) attached to the Policy shall then be terminated.
(iv)
(v)
Policy Lapse - Your Policy will lapse when the Account1 Value in Your Policy Account1 is insufficient to pay for the insurance and other charges.
(vi)
Reinstatement - If Your Policy has lapsed due to non-payment of premium, You may, upon obtaining Our written consent, reinstate it any time within five (5)
years from the due date of the premium in default. You may refer to the Policy Contract for the terms and conditions of reinstatement.
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(ix)
Premium interest - Interest will be imposed on any outstanding premium, including when Premium Holiday is effected, paid later than thirty one (31) days from
the premium due date. Any unpaid interest on premiums will be compounded at each premium due date at a rate to be determined by Us.
Guaranteed Cash Payment - Provided that all premiums due and any interest charged on late premium payment are paid at the end of each policy year, before the
Guaranteed Cash Payment is paid out, Guaranteed Cash Payment as a percentage of the Basic Insured Amount will be payable starting from the end of the second
(2nd) policy year onwards and every end of a Policy year thereafter until policy matures or terminates, whichever is earlier.
Maturity Benefit - Provided that all premiums due and any interest charged on late premium payment are paid before the Policy maturity date, the Maturity
Benefit shall be the higher of the Prevailing Insured Amount or Account1 Value and paid together with any remaining Account2 Value and accumulated
Guaranteed Cash Payment deposited with Us. However, if any premium due and any interest charged on late premium payment are not paid before Policy
maturity, only Account1 Value together with any remaining Account2 Value and accumulated Guaranteed Cash Payment deposited with Us shall be payable at
Policy maturity.
Note: This list is non-exhaustive. Please refer to the Policy Contract for the complete terms and conditions under this Plan.
6.
What are the major exclusions and limitations under this Plan?
(i)
This plan shall not cover suicide, while sane or insane within twelve (12) months from the Issue Date or any Reinstatement Date whichever is later.
(ii)
This plan shall not cover any Total and Permanent Disability caused directly or indirectly, wholly or partly, by any one of the following occurrences or
circumstances:
(a)
(b)
war, invasion, act of foreign enemy, hostilities or warlike operations (whether declared or undeclared), strike, riot and/or civil commotion, mutiny, civil war
assuming the proportions of or amounting to a popular uprising, rebellion, revolution, insurrection, military uprising, military or usurped power, martial law,
state of siege, terrorist activity or any of the events or causes which determine the proclamation or maintenance of martial law or state of siege;
(c)
accidental events that are directly or indirectly related to the use of atomic, biological or chemical weapons as well as radioactive, biological or chemical
warfare agents or substances;
(d)
service in the armed forces in time of declared or undeclared war while under orders for warlike operations or restoration of public order;
(e)
entering, exiting, operating, servicing, or being transported by any aerial device or conveyance except when the Life Assured is a passenger on a commercial
passenger airline on a regular passenger trip over its established passenger route or when the Life Assured is a licensed pilot carrying out his/her duty
according to his/her employment with that particular commercial airline;
any congenital defect which has manifested or was diagnosed before the Life Assured attains seventeen (17) years of age and of which We were not aware
at the Issue Date; or
(f)
(g)
an opportunistic infection or a malignant neoplasm if at the time of disability, there is present in the Life Assured Acquired Immunodeficiency Syndrome. An
opportunistic infection includes but is not limited to Pneumocystis carini pneumonia, organism of chronic enteritis, virus and/or disseminated fungi
infection. A malignant neoplasm includes but is not limited to Kaposis sarcoma, central nervous system lymphoma, hairy-cell leukemia and/or other
malignancies now known or which become known as immediate cause of disability or death in the presence of Acquired Immunodeficiency Syndrome.
Note: This list is non-exhaustive. Please refer to the Policy Contract for the complete terms and conditions under this Plan.
7.
You may cancel Your Policy by giving a written notice to Us. Buying a life Policy is a long-term financial commitment. It is not advisable to hold this Policy for a short
period of time in view of the high initial costs. The cash amount that We will pay You when You cancel the Policy before the maturity period will be much less than the
total amount of premium that You have paid.
8.
It is important that You inform Us of any change in Your contact details including Your address or the address of Your nominee and/or trustee, if any, to ensure that all
correspondences reach You or Your nominee and/or trustee in a timely manner.
9.
You may visit www.allianz.com.my for the claims guide. You are advised to submit Your claim (if any) to Us as soon as possible.
10.
Should You require additional information about life insurance, please refer to the insurance info booklet on "Life Insurance", available at all Our branches or You can
obtain a copy from the insurance agent or visit www.insuranceinfo.com.my.
If You have any enquiries, please contact Us at:
Allianz Life Insurance Malaysia Berhad (104248-X)
(licensed under the Financial Services Act 2013 and regulated by Bank Negara Malaysia)
Customer Service
Allianz Arena
Ground Floor, Block 2A
Plaza Sentral, Jalan Stesen Sentral 5
Kuala Lumpur Sentral
50470 Kuala Lumpur
Fax. : 603-2264 8499
Allianz Contact Center : 1-300-88-1028
Email : customer.service@allianz.com.my
11.
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You should satisfy Yourself that this plan would best serve Your needs and that the premium payable under this Policy is affordable.
2.
It is advisable for You to nominate a nominee for Your Policy and ensure the nominee is aware of the Policy that You have purchased. Failure to make a nomination shall
cause the delay in paying the Policy moneys to Your beneficiary.
3.
You may change the ownership of the Policy by an assignment by giving Us a written notice. The change of ownership of the Policy shall be effective only after We
receive the written notice.
4.
Insurance protection shall only be provided effective from the date of issue of the policy.
5.
6.
The standard time frame required for Us to issue a Policy will be six (6) working days from the submission date of the Application Form for Life Assurance subject to full
documentation received with payment and We are satisfied that no further investigation is necessary.
7.
It may not be advantageous to replace an existing life insurance Policy with a new one. If You intended to do so, We recommend that You consult Your present insurer
before making a final decision.
8.
Surrender value of the Policy is the Account1 Value less surrender charge plus Account2 Value and any accumulated Guaranteed Cash Payments deposited with Us. If
You surrender Your Policy in early years, You may receive an amount which is much less than the premiums paid.
9.
If premium remains unpaid on the premium due date, the Policy shall be kept in force by effecting a premium holiday. However, there would be a possibility of Policy
lapsing if the required charges such as insurance charge and Policy fee exceed the Account1 Value.
10.
Following the implementation of Goods and Services Tax (GST) on 1st April 2015, we will charge you the GST at 6% or at the prevailing rate on the applicable portion of
your insurance premium/fee/charges for the applicable period of insurance coverage from the GST implementation date in accordance to the statutory requirement of
GST.
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