AmMetLife ProtectSecure Style+ is an insurance policy linked to investments. It is designed to meet your commitments and needs at different stages of life. This insurance plan lets you get life protection and maximise your savings at the same time. It is a bancassurance product.
Benefits of AmMetLife ProtectSecure Style+ Plan:
- Your coverage under this plan would include death, and total and permanent disability (TPD).
- You will be covered for a number of critical illnesses.
- You get to choose from a variety of investment-linked funds as per your preference.
- You can grow your savings by increasing premium on this insurance plan.
- You can enhance your insurance coverage by adding multiple riders to this policy.
- You can make partial withdrawals on your investment-linked funds.
- You can switch between your investment-linked funds.
This insurance plan is available only at participating branches in Klang Valley.
Insurance claims for AmMetLife ProtectSecure Style+ Plan
AmMetLife has formed an easy and convenient claims processing service. You can make a claim by calling or faxing AmMetLife. You can send in a written notice to make a claim. You can visit AmMetLife Head Office or any participating branch to make a claim.
The claims department will provide all the necessary form required to make a claim. You can find a list of mandatory documents on AmMetLife website. Complete the claim form and submit it along with required documents.
You need to fill all claim forms except in case of death where a claimant can fill the claim form. You need to claim within 90 days from the date of loss.
- Telephone: 1300-88-8800.
- Fax: +603 2171 3000.
- Email: [email protected].
- SMS: Type AML Message and send to 33911.
How to cancel AmMetLife ProtectSecure Style+ Plan?
You can cancel your insurance policy by submitting a written notice of cancellation to AmMetLife. Your cancellation request will be processed within 10 working days from receiving complete documents.
Q. Can I take up this insurance policy from any branch in Klang Valley?
A. No. You can take up this insurance policy only from participating branches in Klang Valley. You can find a list of participating branches on company website.
Q. What are the different investment-linked funds available on this insurance plan?
A. You can choose from 11 different funds. All these funds are not Shariah-compliant products, but the investments of these funds are in Shariah-approved securities. The funds are mentioned below.
- AmMetLife Equity Fund
- AmMetLife Bond Fund
- AmMetLife Balanced Fund
- AmMetLife Dana Teguh
- AmMetLife Dividend Fund
- AmMetLife Tactical Bond Fund
- AmMetLife Asia Pacific REITS Funds
- AmMetLife Oasis Islamic Fund
- AmMetLife Global Emerging Market Fund
- AmMetLife Global Agribusiness Fund
- AmMetLife Precious Metal Funds
Q. What are the fees and charges for this insurance policy?
A. The main fees and charges for this insurance policy are explained below:
- Insurance Charges: There is a monthly charge calculated on the basic sum insured and your eligibility.
- Switching Fee: You are allowed 2 free switches every policy year. Any further switches would incur a fee of RM50 + RM3 (GST) per switch for the same policy year.
- Fund Management Fee: This fee would be a maximum of 1.5% p.a. of NAV (Net Asset Value).
- Policy Fee: This fee would be RM5 + RM0.30 (GST) every month.
- Surrender Charge: This charge would be either RM100 + RM6 (GST) or 10% of unit value + 6% (GST) on charged fees, whichever is lower.
- Partial Withdrawal Fee: This fee is RM50 + RM3 (GST) for every withdrawal.
Q. What are the terms of coverage on death and TPD?
A. In event of death or TPD, basic sum assured would be paid along with the account value. The account value means the total value of uncancelled units allocated to your policy. The maximum sum payable for TPD is RM4,000,000. This would a combined limit for all the insurance policies you have with AmMetLife for TPD.
Q. What does the coverage for critical illness include?
A. Coverage for critical illness includes all of the 36 critical illnesses. In such cases, the basic sum assured would be paid to you. The maximum coverage amount for critical illness is a combined limit of RM2,000,000. This would include all policies under your name covering critical illness from the same provider.
Q. Are there any terms for partial withdrawal?
A. Yes. You can withdraw a minimum of RM1,000. You need to maintain a minimum of RM2,000 as remaining account value after withdrawal. There’s a partial withdrawal charge of RM50 + RM3 Goods and Services Tax (GST).
Q. Can I cancel my insurance policy at any time?
A. Yes. You can surrender your insurance policy at any time. You would have to pay RM100 + RM6 GST surrender charge for cancellation.