Zurich Takaful Malaysia Berhad (ZTMB) introduced its latest family takaful plan known as ‘Executive20’, that offer customers guaranteed protection and annual cash payment benefits for a coverage term of 20 or 30 years.
The plan provides guaranteed takaful coverage to its participants up to age 90 years, and anyone between the ages 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 since 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,” explained Salim Majid Zain, CEO of ZTMB.
Some of the key benefits and features of Executive20 include:
Guaranteed Takaful Coverage – Guaranteed death benefit up to age 90 and guaranteed total payment 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 the second certificate year and annually thereafter. This is until it reaches certificate maturity with the options to choose from 2%, 4% or 6% of the basic sum covered.
Maturity Benefit – Participants will receive maturity benefit equal to the Participant Investment Account (PIA) value.
Enhanced Coverage with Supplementary Benefits – Participants may optimise their protection against unexpected events such as critical illnesses, death or TPD by attaching additional riders. This includes payor benefit, level term and waiver of contribution of critical illnesses.
Conversation to Other Family Takaful Plans – Participants can extend and convert their protection to other selected Zurich Takaful plans upon certificate maturity without having to present any medical evidence.
Additionally, Executive20 also provides a value-added option for participants wishing to fulfil their religious aspirations (e.g. Badal Hajj, Qurban, Waqaf and Amal) under the Amanah Trust Programme, managed by Amanah Raya Berhad.