Premium Revised to RM1.10 / Month / RM1000 Sum Assured
(Effective August 2024)
FINANCIAL PROTECTION FOR RM55 MONTHLY PREMIUM
|
Benefit
|
Sum Assured (RM) @ RM55 Monthly
|
|
Death/TPD Benefit due to accident
up to 65 age next birthday |
100,000.00 + AF
|
|
Death Benefit due to sickness or old age
up to age 70 |
50,000.00 + AF
|
|
TPD due to sickness or old age
up to 65 age next birthday |
50,000.00 + AF
|
|
Living Assurance Benefit
up to 65 age next birthday |
50,000.00 + AF
|
|
Accidental Total Permanent Partial Disability
up to 65 age next birthday |
Up to RM50,000.00
|
|
Funeral Expenses
|
RM5,000.00
|
- AF = Accumulated Fund, which is the current Net Asset Value of the accumulated Units to the participant s credit.
!!! ADVANTAGES OF THIS SCHEME !!!
- Level premium for all ages and easy payment through your agency account deduction
- Members can continue to participate up to age 70
- Affordable premium with comprehensive protection
- Partial withdrawal of funds is allowed
- A source of retirement benefit
- Entitled for income tax relief
- No disruption of participation even after leaving GE as agent
ELIGIBILITY AND PARTICIPATION
- Member and spouse who are 65 age next birthday and below can apply to participate.
- Member must participate before his/her spouse is eligible to participate.
- Children are also allowed to participate subject to the terms and conditions of children participation.
CONDITIONS FOR CHILD PARTICIPATION
- Member and his/her spouse must participate first
- The child can only participate if the eligible legal spouse of the assured member is participating.
- A dependant s sum assured cannot exceed sum assured of member s spouse
- Failure to follow the above conditions will result in no benefits being payable on any claims for the assured child and cover will cease immediately with all received premiums (if any) refunded.
- Any child between the age of 15 days and 19 years, or up to 23 years if he is a full time student in institution of higher learning, is eligible to participate.
- Reduced Children s Benefit Amount (Lien) – Natural Causes Only
Age
Next Birthday |
1 |
2 |
3 |
4 |
5 |
Percentage
Of The Sum
Assured |
20% |
40% |
60% |
80% |
100% |
FURTHER DETAILS OF THE BENEFITS
Death (Age 70 ) – Natural Causes
Total Permanent Disability (65 age next birthday) – Natural Causes
Death And Total Permanent Disability – Accidental Causes
- Death / TPD benefit is double the amount of Death/TPD due to natural causes and covered up to 65 age next birthday
- Other Permanent Partial Disability Benefits up to 65 age next birthday will be payable according to the Schedule of Compensation in the Master Policy.
Critical Illness (Living Assurance Benefit)
- This benefit will be payable once the doctor has confirmed that the member has contracted one of the 45 Critical Illnesses
- This benefit is not payable for any critical illness which has existed before the effective date or which is first diagnosed in the first 60 days from the date of Letter of Acceptance or date of first premium payment whichever is later
- Participation of member who has claimed this benefit will be automatically terminated.
Accumulated Fund Benefit
- The Accumulated Fund basing on member s total contribution under this scheme will become payable on reaching age 70 or surrender whichever is earlier.
- Participation ceases on attaining age 70.
- No Surrender Value will become payable for less than 12 monthly premiums made
Funeral Expenses – RM5,000.00 is payable for Death Claim
For injuries not listed above, compensation between 1% and 50% will be paid according to the loss sustained as stipulated in the Master Policy.
Important Note:
The information in this site is for illustration purposes only. The actual terms and conditions are contained in the Master Policy.
You are strongly advised to read and understand the benefits and exclusions under the master policy held by the Association before signing this proposal form
For more information please do not hesitate to contact us at:
Tel: 03-9200 6300 | WhatsApp: 03-9200 6400
Email Address: gelfaam@gelfaam.com