Gibraltar BSN Life Berhad is an insurance service provider offering life protection, health protection, savings & investments and investment-linked funds. The insurance provider has 13 different life protection policies catering to various needs of individuals. The various types of life insurance offered by Gibraltar BSN Life Insurance are given below:
Types of Gibraltar Life Insurance Policies
- Guaranteed 3D Plan: Get level-premium, where the premium you have to pay remains the same throughout the coverage tenure. This facility is provided until you reach 88 years of age or until the policy termination on successful claim. The plan also provides a critical illness cover.
- Gibraltar BSN Guaranteed Refund @ 85: This plan assures an accidental death or accidental total and permanent disability (TPD) benefit of double the basic sum assured, if the event occurs before you reach the age of 65 years. Upon death, the policy provides an additional 10% of the sum assured capped at RM10,000.
- Gibraltar BSN Guaranteed Cash Plus: This endowment plan keeps you protected and offers guaranteed cashback (5% of the sum assured) at the end of the second policy year. In the event of death or TPD, 100% of the sum assured will be paid out.
- Gibraltar BSN Keyman: You can provide protection for the lives of key personnel of your business. In case of their death or TPD, the policy provides funds to carry on with your business without interruption.
- Gibraltar BSN Asset Protector: This policy not only protects you, it protects your assets as well. The policy provides a protection of RM100,000 or more.
- Smart Link: This investment-linked policy provides you basic protection and returns on investment. You can also adjust your premiums, investments, and coverage levels with this policy. You can optionally pick critical illness, personal accident and medical expenses cover. The sum assured by the policy starts at RM1,200 and the protection lasts until you reach an age of 100 years.
- Gibraltar BSN PA: This rider can be added to your existing policy and provides personal accidental cover for death or injuries caused by accidents. You can pay a fixed premium for this rider throughout the coverage term. In case of any temporary disability caused by an accident, you can receive a weekly indemnity. Based on the age at which you come across the accident, you can receive 2x or 5x the basic sum assured.
- Gibraltar BSN Payor Enhanced: If you attach Payor Enhanced rider to your insurance policy, the rider pays the premiums for you when you are diagnosed with a covered critical illness or a TPD.
- Don’t Worry Protection Plans: The policy lets you pay a fixed premium for 10 or 15 years. You can choose between additional cover for cancer, heart attack and stroke or get added savings.
- Gibraltar Credit Life Products: Credit Life Products has 9 different plans that serves different needs of individuals such as for people paying home loans, for credit cardholders, for people paying personal loans, etc.
- Gibraltar Pos Bestari: The policy provides a guaranteed cash payment and protection until 88 years. No medical check-up is required for enrolment. The policy provides 4 plans with different premium rates and maturity benefits.
- Gibraltar Pos Hayat: The policy provides Dengue and Zika virus infection protection in addition to death and TPD benefits. The policy also offers hospitalisation cash benefit in case you are detected with Dengue fever or Zika virus infection. There are 6 plans available under the policy.
- Gibraltar i-CARE: You will get protection of up to RM500,000 against death and TPD. And, the policy provides 3 plans with varying benefits for events such as death, TPD, and accidental death.
Gibraltar Life Insurance Features and Benefits
The features and benefits offered by Gibraltar BSN Life Berhad are:
- You can receive 100% of the basic sum assured as maturity benefit or death benefit.
- The minimum sum assured by the policies vary from RM10,000 to RM50,000.
- Some term policies provide you freedom to convert them into non-term policies. The conversion does not require underwriting.
Gibraltar Life Insurance Eligibility Criteria
The minimum entry age for some of the policies mentioned above is 2 weeks and the maximum entry age is 70 years. Other policies, such as Gibraltar Keyman policy, require you to be at least 16 years old and not more than 60 years old to qualify for the policy.
Gibraltar BSN Life Insurance for Foreigners
Gibraltar insurance policies are available to foreign applicants who wish to acquire life protection.
Gibraltar BSN Life Insurance Calculator
You can get an estimate on the life cover that suits your needs by filling up the required fields on the Life Plan Calculator page on the official website of Gibraltar BSN Life Berhad. You only have to enter the fields that ask for your age, your annual income, the expected rise in your annual income and your outstanding loan amount, if applicable. When you click on ‘Calculate Your Cover’ button, you will get the total cover you are eligible for and an estimate of your salary for the next 10 years.
Gibraltar BSN Life Insurance Claims
There are three easy steps for you to follow in order to make a claim:
- Step 1: Check your policy agreement if the claim you are willing to make is covered.
- Step 2: Check on when the last payment was made to make sure that the policy is still active.
- Step 3: Contact the nearest Gibraltar BSN branch for assistance. The branch representatives will verify the policy agreement to know if the claim you are making is valid. If the claim is valid, they will provide you the necessary claim forms and details on supporting documents.
Optionally, you can follow the below mentioned pointers if you wish to add some speed to the claim processing:
- Download the Notice of Claim form from the official website of Gibraltar BSN Life Berhad and return it within the specified time.
- On the official website, you can select the type of claim you are making to download the claims form, print it and complete it.
- Prepare the supporting documents listed in the website and submit the copies to the insurance company.
Gibraltar BSN Life Insurance Contact
You can contact the Gibraltar BSN Life Insurance company via the customer service email id, [email protected], as provided on the official website of the insurance company. You can also choose to dial the customer service helpline number, +603 2687 2020, for any further information.
Alternately, you can fill in the details such as your name, contact number, email id and a preferred contact time, if any, on the website to get a call back from the customer service representative. You can then have a quick chat on your requirements to figure out the ideal policy for you.
How to Cancel Gibraltar BSN Life Insurance
If you wish to cancel the insurance policy at any point of time, even after your Certificate of Insurance is issued, you go ahead with your decision of cancellation. Some plans include a free-look period of 15 days. If you request for cancellation within this span of 15 days from the date of issue of the certificate, you will receive the amount you have already paid as premium. However, no interest for that premium will be refunded. If you decide to cancel the policy after 15 days from the date of issue of the certificate, then the policy will be cancelled only on the next certificate anniversary. But you may not receive any refund of the premium you have paid.
A certain policy may not be valid for you after a point of time. The ideal solution in this situation would be to switch the plan instead of cancelling the insurance plan.
Gibraltar BSN Life Insurance FAQs
Q. Mention the coverage term for i-Care plan?
A. For death benefits, the coverage can go up to 80 years of age, whereas for total and permanent disability benefits, one can have the coverage up to 69 years of age.
Q. Are there any cases where the payment of benefits are not applicable?
A. You have to go through the terms and conditions specified in the policy agreement to know about the exclusions. However, self-inflicted injury is one such case where the policy benefits are not payable.
Q. Are there any fees and charges to be paid while purchasing Pos Hayat policy?
A. Since Pos Hayat is distributed by Pos Malaysia Berhad, you will be paying a part of your premiums as commission to Pos Malaysia Berhad. 10% of your annual policy premium will be the commission paid.
Q. What does non-participating policy mean?
A. A non-participating policy does not share the profits of life insurance company with the policyholder. While a participating policy shares the profits in the form of dividends and bonuses. These profits are not assured and varies based on investment returns of policy funds.
Q. How are risks calculated by an insurance company?
A. An insurance company decides on the risks associated with providing a policy to you by assessing your gender, age, habits, medical history, occupation and other factors. They also consider the information you provide in the application form. Therefore, you must be honest while providing the details.