What is i-DoubleSecure by Etiqa Takaful?
For protection that counts, i-DoubleSecure is a shariah compliant, term life takaful policy that provides lump sum payments for your family if anything were to happen you as a result of death or total and permanent disability.
No matter who you are in your family you play an important role, like pieces in a jigsaw puzzle. So don't take life for granted! Plan ahead so the puzzle doesn't have to fall apart. Entrust your loved ones to Etiqa for just RM300 a year or if you'd prefer to pay installments, for as low RM25 monthly.
Am I covered in the case of Death or Permanent Disability?
This term life policy is tailored especially for situations that compromise the financial security of your family. In the event of your Death, your family will receive 100% of the sum assured in addition to any surplus from the 'Participants Risk Fund'. However, this is subject to your death occurring after the first year of your policy and before your 69th birthday. On that note, if your demise is caused by an accident, your loved ones will receive an additional 100% over the full sum assured.
The same coverage applies for total and permanent disability. You'll receive 100% of your sum assured and any accumulated surplus from the 'Participants Risk Fund'. Additionally you'll also receive an additional 100% of the sum assured if your disability was caused by an accident. This is subject to your permanent disability occurring before you've turn 64.
How much coverage do I get with this takaful life policy?
That is entirely up to you! The i-Double Secure offers 3 types of Sum Covered to choose from - you can go for a coverage of RM50,000 or RM100,000 or RM200,000. You can choose to pay your premiums in either monthly installments or annually.
Is this a Shariah-compliant term life policy?
Take note that this policy applies the concept of Tabarru', which means that the participant agrees to contribute a portion from their monthly or yearly contribution into the Participants Risk Fund (PRF). The amount of which you wish to allocate for this sum is entirely up to you and you'll get returns based on the performance of the fund.
i-Double Secure also applies the concept of Wakalah where a fee is paid to Etiqa Takaful Berhad to manage your contributions on your behalf. The Wakalah fee is a fixed deduction of RM60 per annum per certificate. This will be in addition to 25% of the total contribution for the first year and 6% of the total contribution each year after that.
How do I qualify for the i-Double Secure?
That is a question with an easy answer. You are eligible for this term-life insurance product if you are at least 17 years of age and can still apply for it as long as you are under 55 years of age. The approval of your application will be based on your fulfillment of Etiqa's health requirements.
What if I'm late on payments?
Not to worry, you have a 31 day grace period from the due date of your contribution to make your payments. However, please be advised that if your payments are not made, your plan may be terminated prematurely. So pick a plan that works for you to avoid any issues in the future.