The life insurance provider offers a set of life protection products depending on your needs. You can choose from 7 different types of life protection insurance packages that come with varied coverage and tenures. Let’s have a look at the types of life insurance packages offered by Tokio Marine Life Insurance Malaysia Berhad.
Types of Tokio Marine Life Insurance Plans
TokioMarine-Legacy: The plan offers financial security to your loved ones after you. While giving flexibility of enhancing the protection, you get guaranteed and unchanged premiums throughout your policy tenure.
TokioMarine-LifeTreasure: It is a whole life non-participating life insurance plan that offers financial security to your family members after your unfortunate death. It also offers a flexible coverage up to 4 different unit levels.
TokioMarine-iLifeSecure: The life insurance plan comes with death and total and permanent disability cover (TPD) benefits. It also offers investment benefits.
TokioMarine-iFlexSecure: This is a regular premium investment-linked life insurance plan that offers protection with a short-term commitment. The plan gives cover for death and total and permanent disability to an insurer.
TokioMarine-iBig: The insurance plan provides high protection along with investment possibilities. The policy offers cover for death and total and permanent disability. The plan comes with shorter and flexible premium payment terms.
Convertible Term Assurance: This non-participating insurance plan offers protection at a lower cost. It covers death and TPD benefits. The plan can be converted into a whole life or an endowment plan without having to provide any medical evidence.
TokioMarine-StarterPack: The plan provides cover on death where the sum assured will be paid in a lump sum. You can get the death coverage of 100% sum assured. It is a plan that can be purchased by anyone who is aged between 18 and 55 years.
Features and benefits of Tokio Marine Life Insurance
- The insurance gives you full life cover and protection on death as well as total or permanent disability (TPD).
- The insurance provides up to 100% of maturity benefits until you attain the age of 99 as of next birthday.
- Accidental as well as non-accidental death is also covered under the insurance.
- You can obtain accidental death or TPD benefits of up to 200%.
- The insurance also offers the plans that provide maturity benefits.
- Through the Tokio Marine Life Insurance, you can get cover for even before the birth and up to 99 years of age.
- You can select the insurance plans as per your financial status.
- The insurance offers plans like TokioMarine-Legacy where your cash value keeps appreciating all through the tenure.
- TokioMarine-iLifeSecure plan also offers fixed allowances to cover the funeral expenditure.
- You can customise the TokioMarine-iLifeSecure plan as per your lifestyle and gain optional benefits for critical illness, hospitalisation, etc. depending upon your requirements.
- Through TokioMarine-iFlexSecure plan, you can gain access of an iSavings Rider that gives you guaranteed annual cash payments.
- Under Convertible Term Assurance, any 5-year term policy can be renewed without providing medical proof.
Tokio Marine Life Insurance Eligibility Criteria
- Minimum age criteria to get coverage: Depending on the plan, you can get an insurance cover even before birth.
- Maximum age criteria to get coverage: Up to 99 years as of next birthday, based on the scheme you have opted for.
Documents Required for Tokio Marine Life Insurance
- A copy of your MyKad or NRIC or identity card (as requested)
- Bank statements for 3 to 6 months (as requested)
- Salary slips for 3 months (for salaried applicants)
- Any other documents as requested by the insurance provider
Tokio Marine Life Insurance Claims
To claim the life insurance policy, firstly, you need to repost the claim to an agent or customer service personal by writing a mail or calling them. The representative will then provide you with a claim form that you need to fill in and submit with all necessary documents attached to it. TMLM will then evaluate your claim by verifying the relevant documents. When all the forms are completed, TMLM will proceed with further claim assessment.
Tokio Marine Life Insurance Malaysia Berhad Contact Info
For any query regarding the insurance policy or plan, you can contact the Tokio Marine Life Insurance Malaysia Berhad officials on a hotline: 1800-88 0812, during the official working hours. You can also write an email to the representatives on [email protected] or [email protected] and request for any further assistance. You can also contact the officials by walking-in to the Customer Service Centre located in Kuala Lumpur.
How to Cancel Tokio Marine Life Insurance Policy?
If you are looking for cancellation of the Tokio Marine Life Insurance Policy, you should get in touch with the official representatives who will guide you through the process. You can contact the representatives on 1800-88 0812 or write to them at [email protected].
Tokio Marine Life Insurance FAQs
Q. How can I utilise the insurance money apart from protection?
A. If you have taken up a participating plan policy, you can make good savings by using it for your children’s education, planning your future, and also as a retirement solution. Overall, an insurance policy can also serve as a financial supporter during unfortunate events.
Q. Which are the plans under Tokio Marine Life Insurance that can also offer me investments benefits?
A. For investment purpose, you can choose the TokioMarine-iBig or TokioMarine-iFlexSecure plan.
Q. How does a shorter term policy like TokioMarine-iFlexSecure work?
A. TokioMarine-iFlexSecure offers shorter premium payment terms through which you can obtain higher discounts. You get to choose the insurance term as per your convenience and financial requirements in a limited payment term policy like iFlexSecure.
Q. What does it mean by an investment-linked policy?
A. An investment-linked policy means a life insurance policy that offers both protection and investment benefits. An investment-linked policy comes with two types: Regular Premium ILP and Single Premium ILP.
Q. What actions can be taken against me if I fail to make my insurance premium payment?
A. If you have not taken a direct debit facility from your bank account, the bank/insurance provider will send you the notice about your due payment. If the payment is not made within next 15 days, you will get a reminder notice. if the payment hasn’t been made after the reminder notice within 30 days of grace period, you will get a lapse notice or a Non-forfeiture Loan notice.
Q. What I need to do if I want to change my nominee?
A. You need to send a notification form to the insurance provider which needs to be duly signed by you. A witness may or may not be required for this procedure.
Q. Does TokioMarine-iBig plan provide hospitalisation cover?
A. The TokioMarine-iBig plan does not come with a hospitalisation cover. However, it offers death and total and permanent disability benefits to the claimant.
Q. What is the minimum amount of premium I need to pay for the TokioMarine-iLifeSecure insurance policy?
A. You can obtain a premium from as low as RM100 per month if you have taken up the TokioMarine-iLifeSecure insurance plan.