• Etiqa Life Insurance

    Etiqa is among the leading insurance providers in Malaysia offering personal as well as corporate insurance policies. The range of insurance policies provided by the company include health insurance, vehicle insurance, education insurance, home insurance, personal accident insurance, and life insurance policies.

    Types of Etiqa Life Insurance Policies

    Etiqa offers only one type of life insurance cover which is the Ezy-Life Secure policy.

    Ezy-Life Secure: It is an affordable term life insurance plan which can be flexible according to your requirements. Once you opt for the insurance plan, you get the freedom of choosing the tenure of benefits, the amount of benefit paid on disability of death, as well as the flow and frequency of the payments every year.

    Etiqa Life Insurance Features and Benefits

    • You will get the benefit amount when there is a death or total and permanent disability caused by accident and sickness.
    • You can receive a minimum benefit amount of RM50,000.
    • Throughout the tenure of the insurance, the premiums that you pay regularly will remain constant and will not change with time or due to any other causes.
    • As per your requirements and availability, you can choose the insurance tenure plan of minimum 5 years to the policy anniversary prior to your 80th birthday.
    • You can select the payment frequency on monthly or yearly basis as per your convenience.
    • It is a basic and simple protection plan for adults with cash payout and maturity benefits.
    • You do not have to go through a medical examination to get the insurance policy.
    • A grace period of 31 days is provided to pay the premium of the policy until when you will be covered under the policy.
    • You may use the life insurance premium paid for a tax exemption facility.

    Etiqa Life Insurance Eligibility Criteria

    • Nationality criterion: Malaysian citizen
    • Age criteria:
      • Minimum age: 17 years
      • Maximum age: 60 years (before the 60th birthday)

    Documents Required for Etiqa Life Insurance

    • A copy of valid identity proof (NRIC or MyKad) (both sides)
    • Proof of income related documents
    • Any other documents if requested by the insurer

    Etiqa Life Insurance Calculator

    An insurance calculator is given on the official website of Etiqa Life Insurance through which you can calculate the policy amount you will receive after making a claim.

    Etiqa Life Insurance Claims

    The term policy won’t provide any returns on its maturity but the policy will provide a cash money when the death or total permanent disability (TPD) occur.

    Following documents are required to make a claim for the Etiqa Life Insurance policy:

    • NRIC or any other valid identity proof
    • A police report draft
    • Claim form completed by the policyholder and the attending doctor
    • Original medical bills and receipts
    • Documents of other medical expenses
    • Any other documents as specified by the insurer

    You can file a claim if any of the covered events takes place via email [email protected] or you can call the customer care service at 1 300 13 8888.

    Etiqa Life Insurance Contact info

    If you are having any doubts regarding the term policy and its implementation, you can contact the customer care department on 1 300 13 8888. You can also write them an email on [email protected] for any further assistance. A 24-hour live chat service is also available on the website.

    How to Cancel Etiqa Life Insurance Policy

    In case, you want to cancel or surrender the insurance policy, you need to give a written instruction to the department within 15 days of receiving the policy. The firm will then refund the received premium to you. However, if you choose to surrender or cancel the policy after 15 days of commencement and within 2 years, you will not get any refund. Also, if you surrender the policy 2 years after the commencement date, you will be granted a surrender value.

    Etiqa Life Insurance FAQs

    Q. How can I pay for my Etiqa Life Insurance policy?

    A. You can pay the premium through your credit card.

    Q. How to apply for the Etiqa Life Insurance service?

    A. You can easily access the product online. To apply for the life insurance policy, you can go on the official website of the Etiqa Life Insurance and sign up for the plan.

    Q. How would I be notified about the status of my application?

    A. After you make the successful application through the website, and make the payment for the policy, you will receive the acknowledgement and policy documents via email. On receiving this confirmation, your insurance policy commences with immediate effect.

    Q. Can I nominate more than one person to claim the policy and get benefitted?

    A. Yes, you can nominate more than one person to receive the benefits on your death. However, in the case of total permanent disability, you will receive all the benefits within the covered period.

    Q. Can a foreigner apply for this insurance policy?

    A. No, the Etiqa Life Insurance policy is only available for Malaysian citizens.

    Q. Can an applicant have more than one Ezy-Life Secure insurance policies?

    A. Yes, you can apply for more than one policy. However, you have to make sure that the total amount that is insured of all the policies for this particular product should not be more than the limit granted by the firm.

    Latest News About Etiqa Life Insurance

    • Etiqa: Interest Rate Hike Favourable For Company’s Growth

      Malayan Banking Berhad announces that it is expecting more investors for its insurance and takaful wing, Etiqa Group Insurance & Takaful as a result of the rise in the interest rates. Etiqa has been operational in Malaysia, Singapore, Philippines and Indonesia.

      Datuk Abdul Farid Alias, CEO and Group President, Maybank said that insurance and takaful are usually long-term investments which get more profitable with the increase in the interest rate. Abdul Farid added that they have no plans about making Etiqa a public-listed company.

      Etiqa takes a major role in Maybank2020’s objective and hence, Etiqa has its focus on its overall growth with new products and widening the availability of these products across ASEAN. Etiqa is working on the launch of investment-linked products that benefit the equity market and, in turn, strengthens the Malaysian ringgit.

      Abdul Farid appreciated the growth of Etiqa saying that the company recorded a top-line of RM6.19 billion and profit before tax of RM1.01 billion in 2017. Also, bancassurance products grew over 23.8% year-on-year. Etiqa also established as a premier online insurer by acquiring 70% of market share.

      Bank Negara Malaysia has set the targets for life insurance and takaful products that they have to reach 75% and 25% of the Malaysian population respectively by 2020.

      BBazaar Malaysia

      17 April 2018

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