Tunai Ehsan



What is Tunai Ehsan?

Tunai Ehsan is a shariah-compliant yearly renewable Group Term Family Takaful (GTFT Tunai Ehsan) plan subscribed by Bank Islam Malaysia Berhad (Bank Islam). Tunai Ehsan is offered to trust account holders (the contributor which means parents/legal guardian) for takaful coverage in the event of death or Total and Permanent Disability (TPD) due to natural or accidental causes. This product is owned by Syarikat Takaful Malaysia Keluarga Berhad (STMKB).



Who is eligible to apply?

Trust account holders of Bank Islam aged between 20 years to 50 years (next birthday) can apply for this plan. Trust account holders refer to primary contributor which in this case is the parent or legal guardian of the child.



What are the coverage benefits for Tunai Ehsan?

The entitlement of the coverage benefits is based on the attained age next birthday (ANB) of the trust account holder:

Benefit Details / Plan

Plan 1

Plan 2

 
Death / TPD (Natural)

50,000

20,000
 

Death / TPD (Accidental)

100,000

40,000

The entitlement of coverage benefits/plan is based on attained age next birthday:

  • Plan 1 : Attained Age 20 – 40 Next Birthday
  • Plan 2 : Attained Age 41 – 50 Next Birthday

The plan is only covering one parent/legal guardian (Person Covered), per child per account.

Note: Upon death/TPD of the Person Covered, subject to the provisions and conditions of the GTFT certificate, the sum covered will be payable in one lump sum.

This plan is renewed automatically on a monthly basis as long as the contribution is successfully deducted from the designated account. No coverage will be provided when the account holder attains the age of 51 years ANB.



What are the exclusions under this plan?

This plan does not cover:

a. Death (Natural Causes)

  • Death arising from pre-existing condition

b. Death (Accidental Causes) / TPD (Accidental Causes)

  • Suicide, attempted suicide or self-inflicted injuries, while sane or insane; or
  • Aviation, gliding or any other form of aerial flight other than as a pilot, cabin crew of fare paying passenger of a recognized airline or charter service; or
  • Resulted from the person covered committing, attempting or provoking an assault or a felony or from any violation of the law by the person covered

c. TPD (Natural Causes)

  • TPD that existed prior to or on the effective date of coverage; or
  • TPD arising from pre-existing condition
  • Attempted suicide or self-inflicted injuries, while sane or insane; or
  • Aviation, gliding or any other form of aerial flight other than as a pilot, cabin crew of fare paying passenger of a recognized airline or charter service; or
  • Resulted from the person covered committing, attempting or provoking an assault or a felony or from any violation of the law by the person covered.

Note: The above list is non-exhaustive. Please refer to the takaful master certificate for the full list of exclusions under this plan.


Servicing Guidelines

Free-Look Period
15 days from the notification date from STMKB via email on the subscription of Tunai Ehsan.

Lapse Rules and Approach
Lapse rules: Should Bank Islam fail to deduct monthly contribution on every 27th, 28th or 29th of the month from designated deposit/investment account, no coverage will be provided for that particular month.

Participant will receive a notification from STMKB via email on the failure of the deduction and as a reminder to ensure sufficient funds in the said deposit/investment account.

Claim process
Participant will need to inform Bank Islam and provide the following mandatory documents:

List of Compulsory Claims Documents

Death Claim/Funeral Expenses

TPD Claim

 
Claim Form (Duly completed)
 
Copy of MyKad / Birth Certificate
 

Death Certificate

x
 
Account Opening Form

Copy of Police Report (For accident ONLY)
 
Copy of Report for the Medical Board / SOCSO Report
x
 

Medical Report

x
 

Letter of Termination by the Employer (For gainfully-employed person)

x
Account Statement or any other documents agreed by both parties STMKB & BANK ISLAM
 
Proof of Relationship (Beneficiary)
x
 

Beneficiary Copy of MyKad/MyKid/Birth Certificate/Passport

x
 
Beneficiary Bank Account Details

Surrender Charges
Not Applicable.

Stamp Duty
Borne by STMKB

Service Tax
Not Applicable