What is i-Protect by Gibraltar BSN?
The i-Protect by Gibraltar BSN is a pure protection plan against three of the most common critical illnesses suchlike Stroke, Heart Attack and Cancer. It is also a non-participating plan that is automatically renewed every year.
How does this critical illness plan work?
Just to put things into perspective here—the three critical illnesses mentioned above are so common in Malaysia that almost anyone close to us suffers from them. We saw how detrimental these illnesses are and how expensive the treatments could be, be they short-term or long-term.
Regardless of the awareness, none of us can exactly predict what the near future has for us. However, we can certainly try our best to take better care of ourselves and one way to do it is by getting as much protection as we could.
Here’s where i-Protect shines! In the event that you have been diagnosed with any of the three critical illnesses: Stroke, Heart Attack or Cancer; 100% of the Basic Sum Assured (from your choice of plan and coverage amount) will be paid to you in a lump sum. Thereafter, your Policy will be automatically terminated and no longer work.
Though we understand that you might already have some savings stashed away somewhere to use during emergencies like the diagnosis or getting treatments, for instance, you don’t have to worry about using them at all. Let i-Protect cover you instead!
How much is the coverage amount?
The coverage amount that you could get with i-Protect is depending on the type of plan you choose. Plan A offers a Basic Sum Assured of RM100,000 while you get RM300,000 as the Basic Sum Assured with Plan B. Plan C, on the other hand, offers a much higher coverage amount which is RM500,000.
Plan A: RM100,000
Plan B: RM300,000
Plan C: RM500,000
It is always advisable to get as much coverage amount as you possibly can. However, your current lifestyle, needs and budget plays a big role. We say this because you will be responsible for the monthly or annual premium payments. You wouldn’t want to waste money unnecessarily, so choose a plan that fits your needs.
How long do I need to pay for my premium?
This will depend on your age at the time of purchase or renewal, and the type of plan you choose. You can find the illustration of the amount of annual premium you may need to pay in the Product Disclosure Sheet (PDS).
Are there any fees or charges to purchase i-Protect?
No, there are not. You don’t need to pay any fees or charges upon signing up for Gibraltar BSN i-Protect.
Tell me about the exclusions of Gibraltar BSN i-Protect.
Before you sign-up for i-Protect, the following are some of the exclusions that you should take note of. You can find the full list of exclusions by referring to the Policy Wording.
1. Pre-existing illness; or
2. A Waiting Period of sixty (60) days shall apply to:
- Cancer - of Specified Severity and does not cover Very Early Cancers;
- Heart Attack - of Specified Severity.
3. A Waiting Period of thirty (30) days shall apply to Stroke; or
- The second diagnosis of the same Critical Illness; or
- A subsequent claim arose from the Critical Illness.
Am I eligible to apply?
Any individuals aged between 18 years old to 60 years old are eligible to apply for the i-Protect critical illness insurance plan, provided you don’t have any pre-existing illnesses as well.
How do I make a claim?
There are two ways you can make a claim with Gibraltar BSN. First, you can give them a call at 1-300-22-6262. Or, you can also follow these simple steps below to make a claim.
Step 1: Check your policy
- Find out if you are covered for the event you are intending to make a claim for
Step 2: Check your payment records
- Make sure that your policy is still active
Step 3: Check-in with Gibraltar BSN
- Notify them immediately either via call or visit the nearest branch to you
Can I cancel my policy?
Yes, you can. Upon getting your Policy Contract, you may request to cancel it within a free-look period of 15 days from the delivery date. And if Gibraltar BSN receives your policy within the said period, you are entitled to a refund of the premium paid, without interest.
However, if you cancel your Policy Contract after the given period of 15 days from the delivery date, your policy will be terminated on the next premium due date without any refund of the premium paid.
And because this is a pure protection plan and not a savings plan, there will be no cash value upon surrender or termination of the Policy Contract.