What is Gibraltar BSN i-Care?
i-Care is a non-participating yearly renewable term plan that provides coverage against Death, Total Permanent Disability ( TPD) and Accidental Death Benefit. There are 3 plans to choose from, and the sum assured for each plan is illustrated in the table below.
|Plans||Plan A||Plan B||Plan C|
|Death Benefit||RM100,000 ||RM300,000||RM500,000|
|Total and Permanent Disability Benefit||RM100,000 ||RM300,000||RM500,000 |
Source: Gibraltar BSN
How long am I covered?
You may purchase this plan between the age of 18 and 60 years old. This plan is an automatic yearly renewable term coverage up to the age of 80 for the Life Assured based on the payment of the appropriate premium. The Death Benefit covers the Life Assured up to the age of 81 while the coverage for both Total Permanent Disability and Additional Accidental Death ceases upon the Life Assured attaining the age of 70.
Your premiums are calculated based on your age and the plan you select. The insured can be continue their coverage as long as the premium is paid, so continue to pay your premiums till the age of 80 if you want to be covered.
What are the major exclusions?
Like most insurance policies, there are instances where your coverage will not work. In the case of Giraltar BSN's i-Care plan, here is a short summary of the major exclusions.
- Death Benefit is not payable if the Life Assured dies through duelling, at the hands of justice, committing or attempting to commit negligence, negligent or unlawful acts under the prevalent law in force or any act contrary to public policy.
- Total and Permanent Disability ( TPD) Benefit is not payable if caused by attempted suicide, self-inflicted injury, being under the influence of drugs or liquor, engaging in hazardous activity, engaging in submarine or outer space voyage, performing duties in military, pre-existing illness or accident, dangerous pursuits and dangerous occupation.
- Additional Accidental Death Benefit is not payable if death is caused by: assault or murder, riot, suicide, being under the influence of alcohol, drug abuse, pregnancy, pre-existing disabilities, dangerous pursuits and occupations inclusive but not limited to boxing, diving and acrobatics.
Of course, this list is non-exhaustive. Remember to check your policy contract for a comprehensive list of exclusions and terms and conditions.