Tell me about Fi Life Term Insurance?
Fi Life Term Insurance is underwritten by Tokio Marine Life Insurance Malaysia Bhd.
It provides a non-complicated pure protection policy for those seeking life coverage with high sum assured and affordable premiums.
What are the covers provided?
Like any other term life insurance policies, you will receive protection from unforeseen (1) natural death events. With coverage as high as 100% of sum assured in the case of your death, and even double of the sum assured on (2) accidental death, you can rest assured that your family and loved ones will stay afloat and be protected from any financial burden that may happen.
With Fi Life Term Insurance, you will also get 100% coverage in the case of (3) total and permanent disability (TPD) that prevents you from working or if it affects your ability to perform any activities on a daily basis.
For further information, you can click on the product disclosure sheet for Accidental Death below:
Fi Life Term Insurance Accidental Death Coverage
Can I add-on any coverage?
Yes you can. Fi Life Term Insurance offers additional coverage against critical illness with extra premium.
If you have been diagnosed with any of the following critical illnesses: cancer, stroke, heart attack or coronary artery bypass surgery and decided to purchase this add-on coverage, Fi Life Term Insurance will pay you 25% of the sum assured in advance.
For example, your total sum assured is RM1 Million. When you’ve been diagnosed with heart attack for example, the policy will pay 25% of the sum assured which costs RM250,000 to you. With this, your sum assured will be reduced to RM750,000 but it will still be in force and the remaining are payable upon your death or TPD.
Check out these product disclosure sheets for different types of premiums with Critical Illness coverage:
Fi Life Term Insurance Yearly Renewable Term with Critical Illness Coverage
Fi Life Term Insurance Level Term with Critical Illness Coverage
I want to know more about the premiums
Fi Life Term Insurance comes with fixed or variable premiums and whichever premium that you choose, it will all depend on your own preference.
A Yearly Renewable Term (YRT) policy is where the premium will slightly increase every year as you age. If you wish to pay less in the beginning and pay slightly higher as you earn better income, then the Yearly Renewable Term policy is definitely for you.
With YRT policy, if you have not missed any payments and your policy is still in force, rest assured that you will be covered against death until 80 years of age, or against TPD until you are 70 years of age.
Another premium type is the Level Term policy in which the premiums are fixed and you are covered against death or TPD for 10, 15, 20, 25 or 30 years at your choosing, depending on your circumstances.
If you wish to find out more about the Yearly Renewable Term policy and Level Term policy, you can check out the product disclosure sheets below:
Fi Life Term Insurance Yearly Renewable Term
Fi Life Term Insurance Level Term
Who can apply for Fi Life Term Insurance?
Fi Life Term Insurance is open for all Malaysians that are between 18 years old to 64 years old (of your last birthday) to apply.
If you are a Malaysian that currently resides either in Brunei, Singapore, USA, Canada, UK, Ireland, Australia, New Zealand, Hong Kong, Japan or Taiwan, you are still eligible to apply for this term life insurance but you need to have a Malaysian residential address in order to proceed.
Other eligibility criteria would be:
- Possess a local debit / credit card; and
- Able to send over a copy of your NRIC / MyKad via Fi Life website or email