• Tokio Marine Life Insurance Malaysia Berhad(bhd)

    Tokio Marine offers 7 different life insurance plans that can cover all of your insurance needs. You can protect yourself and your families with these schemes. You can choose the tenure and coverage based on your preference and needs. Read on to learn more about each of these plans

    Tokio Marine Life Insurance Plans

    Plan Name Main Coverage Coverage Period Add-On Coverage
    Tokio Marine-Legacy Death, and Total and Permanent Disability - Yes
    Tokio Marine-LifeTreasure Death, and Total and Permanent Disability Up to 99 years of age (next birthday) No
    Tokio Marine-iLifeSecure Death, and Total and Permanent Disability Up to 99 years of age (next birthday) Yes
    Tokio Marine-iFlexSecure Death, and Total and Permanent Disability 30-year term: Up to 85 years of age (next birthday) 25-year term: Up to 90 years of age (next birthday) Yes
    Tokio Marine-iBig Death, and Total and Permanent Disability Up to 100 years of age (next birthday) Yes
    Convertible Term Assurance Death, and Total and Permanent Disability - No
    Tokio Marine-StarterPack Death, and Total and Permanent Disability Up to 60 years of age (next birthday) No

    Tokio Marine-Legacy

    This plan is a whole-life policy that covers in the event of death, and total and permanent disability. The premium is guaranteed and will remain the same throughout the tenure. This plan is suitable if you are looking for a protection scheme with maturity benefit.

    Tokio Marine-LifeTreasure

    This plan is a traditional whole-life policy that covers in the event of accidental and non-accidental death. The premium is guaranteed and fixed for the entire tenure. This plan is suitable if you are looking for a whole life insurance scheme.

    Tokio Marine-iLifeSecure

    This plan is a regular investment-linked policy that provides whole-life protection as well as returns on investments. You can take this policy even for an unborn child. This plan is suitable if you are looking for a regular protection scheme with potential investment returns.

    Tokio Marine-iFlexSecure

    This plan is a regular investment-linked policy that covers in the event of death, and total and permanent disability. You can customise this policy by choosing your preferred coverage term and payment period. This plan is suitable if you are looking for a regular protection scheme with investment returns and a shorter payment term.

    Tokio Marine-iBig

    This plan is a limited pay investment-linked policy that offers whole-life coverage up to age 100. You can enjoy an increase in the basic sum assured every 5 years subject to no claims. This plan is suitable if you are looking for a regular protection scheme with flexible payment term and investment returns.

    Convertible Term Assurance

    This plan is a traditional non-participating policy that provides cover in the event of death, and total and permanent disability. You can convert this policy into an endowment plan or whole-life plan without any need of medical evidence. This plan is suitable if you are looking for a convertible protection scheme at a low cost.

    Tokio Marine-StarterPack

    This plan is a life insurance policy that provides cover in the event of death, and total and permanent disability. The sum assured will be paid as one lump sum in the event of death. This plan is suitable if you are looking for an affordable life insurance policy with cover for death.

    Benefits of Tokio Marine Life Insurance

    • Get cover in the event of death, and total and permanent disability.
    • Add optional drivers to enhance the coverage and sum assured.
    • Choose an investment-linked plan to earn returns on your investments.
    • Enjoy flexible and short premium payment periods.
    • Buy a policy even for an unborn child.
    • Customise the policy with your preferred term and payment period.

    How to Claim

    • File a claim through the Tokio Marine website.
    • Login under “Life Insurance eServices”.
    • Click on e-Claims via the e-claims menu.
    • Select the type of claim (new claim, appeal, or query reply) you wish to submit.
    • Follow the mentioned steps to complete the submission.
    • You will receive a receipt acknowledgment through email, SMS, or screen message.
    • View the submitted claim details via “Submission Log”.

    Eligibility Criteria

    Tokio Marine-LifeTreasure

    • Age: 45 years to 75 years (next birthday)

    Tokio Marine-iLifeSecure

    • Age: 30 days to 70 years (next birthday) (unborn child as early as 12 weeks of pregnancy)

    Tokio Marine-iFlexSecure

    • Age: 30 days to 65 years (next birthday)

    Tokio Marine-iBig

    • Age: 18 years to 70 years (next birthday)

    Tokio Marine-StarterPack

    • Age: 18 years to 55 years (next birthday)

    Required Documents for Claims

    Death Claims

    Mandatory Documents

    • Death Claim Form
    • Death Certificate
    • NRIC of the deceased
    • NRIC of the claimant
    • Claimant's proof of relationship with deceased (birth certificate /marriage certificate)

    Supporting Documents

    • Statement from doctor (if policy in-force for less than 5 continuous years)
    • Police Investigation Report (if death due to accident/ murder/suicide)
    • Toxicology Report (if death due to accident/ murder/suicide)
    • Post Mortem Report (if death due to accident/ murder/suicide)
    • Grant of Probate or Letter of Administration (if no one nominated on the policy)

    Death Occurred Overseas

    • Foreign Death Certificate or a letter certified by the Malaysian Embassy in overseas
    • Certified copy of letter of confirmation of death by JPN
    • Import or Export Permit Certificate
    • Permit for coffin or transportation of the remains of the deceased issued by the Jabatan Kesihatan Malaysia

    Total and Permanent Disability Claims

    Mandatory Documents

    • Claim Form completed by claimant
    • Confidential Medical Certificate on TPD (completed by attending physician)
    • NRIC of the Life Assured
    • NRIC of the claimant
    • Termination Letter

    Supporting Documents

    • SOCSO settlement letter
    • Jemaah doctor PERKESO medical report

    Accident Claims

    Mandatory Documents

    • Claim Form completed by claimant
    • Statement of the attending physician

    Supporting Documents

    • Any receipts and itemised bills for reimbursement
    • Medical leave certificate or the employer's confirmation letter on period of medical leave
    • Police Investigation Report
    • Photograph of any dismemberment
    • Claims settlement letter from SOCSO or PERKESO
    • Claims settlement letter from the employer or other insurance company

    The varied plans offered by Tokio Marine give you the freedom to choose a plan based on your needs. You can customise the plans to suit your budget. Compare quotes before purchasing any plan to know the approximate premium amount. Get your life and your family’s protected against any harm.

    FAQS

    Q. What is the premium that I need to pay if I purchase a policy?

    A. The premium will be calculated on multiple factors, such as your age, chosen plan, basic sum assured, and tenure. It would vary from case to case. You can take a quote before you purchase a policy.

    Q. Can I add optional drivers to these plans?

    A. Not all plans have an option of additional drivers. Some plans allow for it, and you can add them if your purchased plan allows that option.

    Q. What are the different available funds for investment linked policies?

    A. The available funds for investment-linked policies are:

    • Tokio Marine-Managed Fund
    • Tokio Marine-Enterprise Fund
    • Tokio Marine-Dana Ikhtiar
    • Tokio Marine-Luxury Fund
    • Tokio Marine-Bond Fund
    • Tokio Marine-Orient Fund

    Q. What are the fees and charges involved with the investment-linked policies?

    A. The fees and charges normally associated with investment-linked policies are as follows.

    • Policy Fee: RM6 (deducted each month from the fund value)
    • Fund Management Fee: 1% p.a. to 1.5% p.a. of your fund assets (based on your choice of funds)
    • Insurance Charges: Would vary based on age, gender, occupation, habits, and health condition
    • Fund Switching Fee: Not applicable

    Q. Am I eligible for tax relief for the premium paid on life insurance policies?

    A. Yes. You would be eligible for a tax relief on your paid premium every year. This is subject to the approval of the Inland Revenue Board in Malaysia.

    Q. How can I purchase a policy?

    A. You can purchase a policy in 3 different ways. They are:

    • Visit your nearest branch and purchase a policy.
    • Register your interest by submitting your contact details to Tokio Marine.
    • Call the Tokio Marine customer service line to purchase a policy.

    News About Tokio Marine Life Insurance Malaysia

    • Tokio Marine Life Insurance Malaysia Digitises its Products and Services

      Tokio Marine Life Insurance Malaysia gets an edge over its competitors by adopting digitalisation. The firm has decided to sell the insurance products via the new distribution channel so they can reach a whole new section of people.

      Toi See Jong, Chief Executive Officer, Tokio Marine said that they are working on offering new products as per their observation on the needs of the market. He also highlighted that the firm has good financial products and the products are vulnerable to be copied easily.

      Though digitalisation is a boon to consumers, the insurance providers have to compete by cost-cutting. Toi said that the digital services will be effective when they are safe and convenient. Even if the technology adaptation seems expensive now, Toi believes that the investment turns out to be cost-effective in the long run.

      BBazaar Malaysia

      04 September 2018

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