• Syarikat Takaful Travel Insurance

    With Syarikat Takaful Malaysia, you can get a protection cover for personal accident, vehicle, mortgage and medical expenses. Syarikat Takaful also provides travel insurance to keep your trip covered in case of any unexpected events. Check out this guide to know what events the policy covers, and how you can travel without worries.

    List of Takaful Travel Insurance Coverage Plans

    • Takaful myTravel Partner: myTravel plan is an annual cover that provides you with an unlimited number of trips throughout the validity of the plan. Both business and leisure travel are covered by the plan. This plan offers services such as an emergency interpreter, flight information, global weather and foreign exchange information. The cover for accident is up to RM300,000.
    • Takaful myUmrah: This plan covers accidental death and disability during your Umrah trip. Unlike other plans, myUmrah covers the treatment expenses for pre-existing medical condition treatment for any illness/injury arising during the travel. You can get trip curtailment and compassionate allowance with this plan.

    Benefits of Takaful Travel Insurance in Malaysia:

    • This policy covers accidental death and disability.
    • Get medical and hospitalisation expenses coverage.
    • This policy provides 24-hour emergency assistance.
    • Get emergency evacuation and repatriation facilities.
    • Get additional cover for any travel inconveniences.
    • This policy is an annual plan, and covers unlimited trips.

    Eligibility

    • Nationality Criterion:
      • Malaysian citizens
      • Permanent residents of Malaysia
      • Individuals with valid work permit or employment pass
    • Age Criterion:
      • Minimum age is 18 years
      • Maximum age is 79 years

    Takaful Travel Insurance for Foreigners

    Takaful Travel Insurance offers this insurance policy to foreigners.

    Takaful Travel Insurance Exclusions

    The major exclusions from the policy are:

    • Pre-existing medical ailments (for myTravel Partner)
    • Traveling against the doctor’s advice
    • Playing risky or professional sports
    • Loss or damages caused by alcohol or drug Intoxication
    • Diseases caused by exposure to radioactive or nuclear radiations
    • Wars and riots
    • Suicide and self-inflicted injuries

    How Do You Buy Takaful Travel Insurance

    Visit the nearest Syarikat Takaful branch office to express your interest in purchasing the travel insurance policy.

    Documents Required

    You may have to submit the following documents to submit a claim:

    • Duly-filled claims form
    • Copy of police complaint
    • Death certificate, in case of death
    • Medical certificate from an established doctor, in case of permanent disability or illness
    • Copy of purchase receipt of the item(s), in case of theft
    • Photographs of the damage caused, in case of any accident
    • If you have lost money, provide proof to show the amount you have lost using bank statements and purchase receipts

    How to Claim Takaful Travel Insurance

    • Notify the insurer on the details of the event by either sending an email or making a phone call.
    • Take help of police to handle the event and prevent further damage.
    • Get the claims form from the insurer’s website.
    • Fill the claims form, and attach all supporting documents with it.
    • Submit the form and documentation to Syarikat Takaful branch as soon as you return to Malaysia.

    Contact Number

    • Hotline Number: +603 – 7628 3905
    • General:1-300 88 252 385

    FAQs

    Q. How can I cancel my policy?

    A. You can provide a written notice of cancellation of the policy at any time.

    Q. Upon cancellation, how much money will be refunded?

    A. You will not receive any refund upon cancelling your policy.

    Q. In the event of a claim, by when should I submit all necessary documents?

    A. You must submit all the necessary documents within 30 days from the date of your return to Malaysia.

    Q. What percentage of the premium is considered for Wakalah fees?

    A. Takaful Malaysia considers 60% of the paid premium for Wakalah fees. In detail, 25% of the premium is the commission and the remaining 35% of the premium is debited for other expenses.

    Q. What are the available premium payment modes?

    A. You can pay the premium using any of the following methods:

    • Auto-debit your premium from your savings or current account
    • Internet banking
    • Set a standing instruction on your credit card
    • Manually debit your premium amount from savings or current account
    • JomPAY via Internet banking or Mobile banking
    • Pay at the counter by cash, cheque or credit/debit card

    Travel insurance is quite helpful especially when you are travelling abroad with your family. It will be hugely beneficial during any emergency or critical circumstances. Compare quotes before you purchase a policy.

    Latest News About Insurance

    • Takaful Malaysia targets double-digit growth by 2018

      Syarikat Takaful Malaysia Bhd is aiming for a double-digit growth of 15% by the end of this year. The group has seen an increase in revenue with their takaful businesses.

      The gross earned contributions was RM1.73 billion in the financial year 2016, which increased by 5% to RM1.82 billion in the financial year 2017. In the first quarter of 2018, there was again an unprecedented growth of 8%, totalling up to RM506.28 million.

      According to Datuk Seri Mohd Hassan Kamil, the CEO of Takaful Malaysia, takaful still has a low penetration rate in the country due to many factors including growing medical expenses and disruption of financial technology. However, he is confident about the group’s growth in the long run.

      Currently, the general takaful contributes 35% to the group's revenue, out of which 47% of the contributions are from their motor takaful business. Family takaful generates 65% of the total revenue. Some of the growth in the first quarter of 2018 was from the motor takaful contributions from their 'Click for Cover' sales portal.

      Takaful Malaysia is also aiming to boost their market share from 23% to 30% by 2020 in the domestic takaful market. The group's online sales has generated RM40 million so far. They're targeting an increase in online sales from 20% to 25% by the end of the financial year.

      BBazaar Malaysia

      11 June 2018

    • Takaful Malaysia Gets Single Licenses in Line With IFSA13

      In accordance with the legislative requirement of the Islamic Financial Services Act 2013 (IFSA), Syarikat Takaful Malaysia Bhd, popularly known as Takaful Malaysia, has converted its composite license to single licenses.

      With Bank Negara Malaysia and the Ministry of Finance (MoF) having approved this move, Takaful Malaysia becomes the first Islamic insurance company to undergo such a conversion. The conversion was approved on 1 June 2018.

      Consequently, Takaful Malaysia is now divided into two separate entities – Syarikat Takaful Malaysia Keluarga Bhd (STMKB) and Syarikat Takaful Malaysia Am Berhad (STMAB). Datuk Seri Mohamed Hassan Kamil, Takaful Malaysia’s CEO, said that STMKB is the official name for the company’s Family Takaful division while STMAB is the official name for the company’s General Takaful division.

      He also stressed that there will be no change in the way each division operates and that existing takaful certificates will continue to have the same terms and conditions.

      BBazaar Malaysia

      04 June 2018

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