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Introduction
This insurance is specially designed to cover Public Mutual unit holders who maintain a minimum investment of RM5, 000 Net Asset Value (NAV) and above in Public Ittikal Sequel Fund (PITSEQ), subject to a maximum amount of RM100, 000 per unit holder.
The amount of Takaful coverage is equal to the NAV of units held in the ratio of RM1 Takaful coverage for every RM1 NAV of units held. As the NAV fluctuates, the coverage will also fluctuate accordingly.
Unit holders who qualify will be given group term life and group personal accident coverage.
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Eligibility
Unit holders aged between18-59 are eligible for this free insurance coverage. The coverage will cease once the insured reaches age 60. For joint accounts, only the principal (first-named in the account) unit holder is eligible.
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Effective Date Of Coverage
The coverage will take effect according to the bank-in date of the initial or additional investment and subject to subsequent approval by the Insurance Company.
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Coverage/Benefits
Life Insurance Benefit
Death due to illness or accidental causes. The benefit payable is as follows:-
a. Accidental causes : 2 x Death Benefit, up to RM200,000.
b. Natural causes :1 x Death Benefit, up to RM100,000
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Termination Of Coverage
Coverage will terminate when: -
a. Insured ceased to be an investor of PITSEQ
b. Investment in PITSEQ falls below RM5,000 NAV
c. A claim on Total Permanent Disablement has been made
d. Insured attains age of 60 years old
e. Unit holder enters full-time military, naval, airforce service of any country
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Nomination
The insured shall designate a nominee by filling up a Wasi form to whom the benefits under this insurance shall be payable. The insured is allowed to change the nominee by submitting a fresh Wasi form to Public Mutual Berhad. Such change shall take effect on receipt of such notice by Public Mutual.
Conditions to be Nominee:
a. Age above 18
b. Sound mind
c. Family member of insured
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Group Term Life (with Total & Permanent Disability) - GTL Coverage
1. This is a term life insurance that covers death & total permanent disablement due to natural and accidental causes 24 hours a day worldwide.
2. Total Permanent Disability (TPD) shall mean the complete inability of an insured to engage in any gainful occupation or employment for compensation, profit or gain for the remainder of his lifetime as a result of accident injury, sickness or disease.
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The following events are excluded under death benefit:
- Suicide or attempted suicide
- Pre-existing conditions will not be covered during the initial 12 months. Claims occurring after 12 months will be covered.
- For subsequent increases, the above condition 2 applies based on the respective effective date.
- Hepatitis B, AIDS, AIDS related complex or any other AIDS related condition.
- Any breach of the Civil or Shariah Law by the Covered Member
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Risk Excluded For TPD (GTL)
The insurance shall not cover any loss or disability caused directly or indirectly, wholly or partly, by:-
a. Self destruction or any attempt thereat while sane or insane;
b. War, declare or undeclared, civil war, revolution, any warlike operations, or state of emergency;
c. Military or naval service in time of declared or undeclared war or while under orders for warlike operations, or restoration of public order;
d. Committing a felony;
e. Pregnancy or childbirth or pre-existing physical, mental defect or infirmity;
f. Entering, operating or servicing, ascending or descending from or with any aerial service or conveyance except as a fare paying passenger of a commercial aircraft;
g. AIDS,AIDS related complex or any other AIDS related conditions;
h. Any pre existing disease or disability;
Other benefits shall cease upon payment on this TPD benefit.
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Coverage For Group Personal Accident Permanent Disability (GPAPD)
The company will pay the covered member the sum or sums of money specified in the Table of Benefits in the event that any of the persons covered shall sustain bodily injury caused by violent accidental, external and visible means which injury shall solely and independently of any other caused result in:
a. Death- Occurring within twelve(12) calendar months of bodily injury as foresaid
b. Total and Partial Permanent Disablement- as per the Table of Benefits occurring within twelve
(12) calendar months of bodily injury as foresaid.
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Risk Excluded For GPAPD
The insurance does not cover death, loss or disablement directly or indirectly caused by:-
a. Any pre-existing physical defect or infirmity, fits of any kind, disease or sickness of any kind;
b. Pregnancy or childbirth;
c. Self-inflicted injury, suicide or any attempt thereat;
d. War, invasion, act of foreign enemy, hostilities (whether war be declared or not), rebellion, military or usurped power, provoked assault, deliberate exposure to exceptional danger (except in an attempt to save human life), criminal act, drugs, or insanity;
e. The unitholder taking part in horse riding, hang gliding, sky diving, parachuting, winter sport, water skiing, underwater activities involving breathing apparatus, racing of any kind (other than foot racing),mountaineering, polo, steeple chasing, boxing, wrestling or the performing of martial art;
f. Nuclear weapons material, ionizing radiation or contaminated by radio-activity;
g. The unitholder flying or traveling in an aircraft other than as a fare-paying passenger with a licensed carrier on scheduled route or on duly licensed charter service.
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Table Of Contents
Accidental Death & Permanent Disablement
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Event
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Compensation
(Percentage of Capital Sum Insured)
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Accidental Death
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100%
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Loss of two limbs
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100%
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Loss of both hands, or of all fingers and both thumbs
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100%
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Total paralysis
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100%
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Total insanity
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100%
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Injuries resulting in being permanently bedridden
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100%
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Any other injury causing permanent total disablement
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100%
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Loss of arm at shoulder
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100%
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Loss of arm between shoulder and elbow
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100%
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Loss of arm at elbow
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100%
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Loss of arm between elbow and wrist
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100%
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Loss of hand at wrist
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100%
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Loss of leg at hip
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100%
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Loss of leg between knee and hip
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100%
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Loss of leg below knee
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100%
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Eye - loss of whole eye
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100%
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Eye - loss of sight of
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100%
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Eye - sight of except perception of light
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50%
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Eye - lens of
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50%
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Loss of four fingers and thumb of one hand
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50%
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Loss of four fingers
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40%
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Loss of thumb-both phalanges
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25%
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Loss of thumb-one phalanx
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10%
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Loss of index finger-three phalanges
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10%
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Loss of index finger-two phalanges
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8%
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Loss of index finger-one phalanx
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4%
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Loss of middle finger-three phalanges
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6%
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Loss of middle finger-two phalanges
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4%
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Loss of middle finger-one phalanx
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2%
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Loss of ring finger-three phalanges
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5%
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Loss of ring finger-two phalanges
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4%
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Loss of ring finger-one phalanx
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2%
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Loss of little finger-three phalanges
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4%
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Loss of little finger-two phalanges
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3%
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Loss of little finger -one phalanx
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2%
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Loss of metacarpals-first or second(additional)
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3%
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Loss of metacarpals -third, fourth, fifth (additional)
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2%
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Loss of toes-all
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15%
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Loss of toes-great, both phalanges
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5%
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Loss of toes-great, one phalanx
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2%
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Loss of toes-other than great, each toe
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1%
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Loss of hearing-both ears
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75%
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Loss of hearing-one ear
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15%
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Loss of speech
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50%
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Permanent total loss of use of member shall be treated as loss of member. Loss of speech shall mean total permanent inability to communicate clearly.
The aggregate of all percentages payable in respect of any one accident shall not exceed 100%. In the event of a total of 100% having been paid, all insurance hereunder shall immediately ceased to be in force. All other losses smaller than 100%, if having been paid shall reduce the coverage by that amount from the date of accident until the expiration of the policy.
Details in this web page are for information purposes only. The benefits and exclusions described herein are subject to all the terms and conditions of the master policy. The copy can be viewed at any of Public Mutual Branches.
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