Etiqa Insurance Malaysia offers a variety of term life insurance plans to its customers. The plans offer financial security to the beneficiaries in case of death or total and permanent disability (TPD) of the life insured. Let’s look into the term life insurance plans as offered by Etiqa.
Types of Etiqa Term Life Insurance Plans
- Offers a lump sum amount to the nominee of the insured in the event of death during the cover period.
- Gets you covered from the age of 21 years until you are 80 years old.
- Offers death and TPD benefits of up to RM500,000.
- Premium remains unchanged throughout the tenure.
- Flexible tenures.
- Obtain this term protection plan with a premium as low as RM50 per month.
- Get a minimum cover of RM10,000 through this plan.
- Choose from an array of riders to enhance your plan.
- Get an an extensive cover period of up to 75 years of age.
- Get death or TPD benefits of up to RM500,000.
- Choose any amount of sum covered from 3 options: RM50,000, RM100,000, and RM200,000.
- Get unchanged premium instalments throughout its tenure. Choose from monthly and yearly options.
Benefits of Etiqa Term Life Insurance Policy
- Get death and TPD benefits of up to RM500,000 based on your plan. However, the Ezy-Life Secure plan offers a minimum benefit amount of RM500,000.
- Based on your plan, obtain various riders with your scheme to enhance it. Choose from options like, Critical Illness Rider, Accidental Death and Disbursement Benefit Rider, Ultra Medic Rider, Hospital Cash Benefit Rider, etc.
- With plans like Ezy-Secure and i-Secure, you do not require any medical check-ups.
- You can apply for any plan of your choice directly from the official website of Etiqa.
- The schemes that offer takaful term cover (i-Secure and i-DoubleSecure) operate on Islamic banking concepts of Tabarru’ and Wakalah.
- The term life insurance/takaful plans come with flexible tenures.
Etiqa Term Life Insurance Covers
|Plan Name||Protection Level||Cover Period||Primary Coverage|
|Ezy-Secure||From RM100,000 to RM500,000||From the age of 21 years to 80 years||Death and TPD|
|Ezy-Life Secure||Minimum sum covered: RM500,000||Minimum of 5 years up to the policy anniversary prior to 80th birthday||Death and TPD|
|Prisma||Minimum sum covered: RM10,000||Death cover till 88 years of age and TPD cover till 65 years of age (Maturity age: 88 years)||Death and TPD|
|i-Secure||From RM100,000 to RM500,000||From 21 years of age till 75 years of age||Death and TPD|
|i-DoubleSecure||Sum covered as per your choice between RM50,000, RM100,000, and RM200,000||Death benefits until before 69th birthday and TPD benefits before 64th birthday||Death and TPD|
You need to follow certain eligibility criteria to get any plan under Etiqa Term Life Insurance policy. Read further to find out:
|Plan Name||Eligibility Criteria to Participate|
|For Ezy-Secure Plan||Minimum age: 21 years Maximum age: 45 years|
|Ezy-Life Secure||Minimum age: 17 years Maximum age: 60 years (till next birthday)|
|Prisma||Minimum age: 19 years Maximum age: 60 years|
|i-Secure||Minimum age: 21 years Maximum age: 45 years|
|i-DoubleSecure||Minimum age: 17 years Maximum age: 55 years|
- A copy of MyKad (both sides)
- Latest salary slips for 3 to 6 months
- Latest bank statements for 3 to 6 months
- Any other document as requested
Etiqa Term Life Insurance Policy for Foreigners (Expats)
The plans under Etiqa Term Life Insurance are currently available only for the Malaysian citizens.
Etiqa Term Life Insurance Policy Calculator
You can use the online calculator available on the official website of Etiqa to get an estimate about the amount of cover you need and the applicable premium amount payable for it. In this online tool, you need to provide your monthly income and expenses, your saving plans, and details about your existing insurance/takaful plan.
Based on your monthly financial budget, you will get an estimate on the amount of insurance cover that you may require.
Etiqa Term Life Insurance Policy Claims
In the case of death or TPD, you can file a claim for your cover by sending an email to firstname.lastname@example.org or to email@example.com. You can also contact the Etiqa Oneline representatives by calling on 1300 13 8888. Moreover, get in touch with the General Claim Assist representatives on 1300 88 1007.
For any queries or complaints related to the insurance plans, you can contact the customer support department on 1300 13 8888. For overseas calls, you can dial +603 2780 4500.
How to Cancel Etiqa Term Life Insurance Policy
You can cancel your Etiqa Term Life Insurance policy by giving a written notice to Etiqa within 15 days of policy delivery. On doing so, the insurance provider will refund the premium that you have already paid. However, if you cancel the policy after 15 days and within 2 years, you will not be entitled for any refund.
If you are looking to buy a term life insurance by Etiqa, you can consider any suitable insurance cover scheme from the ones mentioned above. You get to choose any scheme operating on Islamic or conventional banking method, as per your preference.
Q. Can I obtain more than one insurance plan?
A. Yes, you can get more than one insurance policy. However, the amount of total sum insured for all your policies combined, should not be more than the permitted limit by Etiqa Malaysia.
Q. How should I pay my insurance policy premium?
A. You can pay your premiums using a credit card.
Q. Is there any grace period available to pay my premium?
A. You will get a grace period of 31 days from the date assigned to you.
Q. Can I get a refund if I surrender my policy after 2 years?
A. You are eligible to receive a surrender value if you submit your insurance policy after 2 years from its commencement date.
Q. Can I sign up for an insurance plan through an agent?
A. All plans under Etiqa Term Life Insurance are available exclusively online through the official website of Etiqa Malaysia. The plans are not sold by any agents by charging a commission.