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Takaful ProInvest

Building Valuable Assets

Takaful ProInvest - Investment Linked Family Takaful

Takaful ProInvest – an Investment-linked Family Takaful plan is designed to optimize your investment returns, as well as overcome life’s financial uncertainties. Whether you want to build your wealth or improve your health, things fall into place with proper planning. Takaful ProInvest from Zurich Malaysia aims to safeguard your financial future as well as protect your health.

Your investments will work harder under our Shariah-approved investment funds, which are managed professionally with the aim of delivering attractive returns in local and foreign funds. Additionally, it also offers flexible comprehensive protection plans, so you can fulfill your life goals or build a secured future for you family.

Takaful ProInvest Product Features and Benefits

Takaful ProInvest is a solution to life's unpredictability and helps you and your family have a secure financial future.

This Takaful certificate includes:

  • Diverse Fund Selection: You can invest in Shariah-approved local and foreign funds as per your needs and risk tolerance. You will also be provided with thorough professional assistance.
  • Disability Coverage: Get Total and Permanent Disability coverage and additional Golden Age Disability Support to enjoy a comfortable retirement devoid of financial worries.
  • Family Care Privilege: If you succumb to a life-threating situation, this family takaful will provide protection for up to 4 of your legal spouses and/or children with the coverage amount of up to 25% Basic Sum Covered.
  • High Protection and Accident Indemnity Benefits: It also offers financial protection for your family in the event of any unfortunate circumstances that you might face while you are traveling abroad.

High Protection with up to 300% of Basic Sum Covered (BSC)1*
Some things are beyond our control, but with Takaful ProInvest, rest assured that your family will be protected financially in the event of unfortunate circumstances:
100% of BSC + Participant Investment Account (PIA) value will be payable Death
200% of BSC + Participant Investment Account (PIA) value will be payable Balik Kampung Accidental Death2
300% of BSC + Participant Investment Account (PIA) value will be payable
 Overseas Accidental Death3

Note:
1 Only the highest death benefit is payable.
2 In the event of death of the Person Covered within 365 days from the date of accident occurring during Malaysia’s National Public Holiday and at any of the Toll Expressway in Operation. The coverage of this benefit is up to age 75.
3 In the event of death of the Person Covered within 365 days from the date of accident while travelling overseas for not more than 90 consecutive days per trip. The coverage of this benefit is up to age 75.

Disability Coverage Up to Maturity of Certificate*
Takaful ProInvest provides Total and Permanent Disability (TPD) support up to age 75 and Golden Age Disability (GAD) will provides you an additional disability coverage up to age 100. In the event of TPD or GAD and if such disability persists for at least 6 months, 100% of BSC and PIA value will be payable.

*The accidental death and TPD benefit are subject to a maximum limit of RM10,000,000 per life whereas GAD benefit is subject to a maximum limit of RM2,000,000 per life.

Family Care Privilege
Takaful ProInvest provides protection for up to 4 of your legal spouses and/or children with the coverage amount of up to 25% of BSC without medical underwriting, subject to a maximum of RM300,000 per life.

Flexibility to Suit Your Needs
You have the choice of your preferred coverage term ranging from 20 or 30 years, or up to age 70, 80, or 100. Furthermore, your coverage term will be auto-extended up to age 100 without medical underwriting. You may be required to make an additional contribution for the extension.

Enhance Your Coverage
You can give your family that comfort by enhancing your coverage with any of the following optional riders.
Optional Rider Description
Family Benefit When the unexpected happens, RM2,000 will be compensated for each family member who passes away (comprising 1 legal spouse and up to 4 children)
Payor Benefit All future contributions will be waived in the event that the Participant passes away, suffers Total and Permanent Disability (TPD) or is diagnosed with any of the selected Critical Illnesses.
Payor Benefit on Regular Saver Contribution All future T-Saver contributions will be waived in the event that the Participant passes away, suffers TPD or is diagnosed with any of the selected Critical Illnesses.
Waiver of Contribution on Critical Illness All future contributions will be waived in the event that the Person Covered is diagnosed with any one of the selected Critical Illnesses.
Waiver of Regular Saver Contribution on Critical Illness All future T-Saver contributions will be waived in the event that the Person Covered is diagnosed with any one of the selected Critical Illnesses.

For full details of the optional riders, please refer to the Product Disclosure Sheet and Takaful Certificate.

Note: 
1. All benefits are subject to terms and conditions. 
2. All benefits payable shall be deducted, less any amount due to us (if any). 

Protection that Goes Beyond
Takaful ProInvest offers Accident Indemnity (AI) Benefits for coverage up to the age of 75 as listed below:
Item Benefit Description
(i)              Accidental Death and Dismemberment Indemnity 
  • Enhances your protection from accidents resulting in passing or loss of bodily functions.
  • Covers up to RM100,000 per life. 
(ii) Weekly Indemnity
  • Payout in the event that you are unable to work due to accident resulting in temporary total or partial disability.
  • Pay up to RM1,000 for a maximum of 8 weeks per accident and only claimable up to 2 times per certificate year.
  • Temporary total disability: 1% of AI Benefit
  • Partial disability: 0.5% of AI Benefit
(iii) Permanent Disability Indemnity 
  • Payout in the event that you are unable to work due to permanent, total and continuous disability within 90 days from the date of accident. 
  • A payable sum of 10% of AI Benefit on a yearly basis for a maximum of 10 years.
(iv) Accidental Medical Reimbursement
  • You will be reimbursed for medical and surgical treatment expenses from a hospital or clinic up to RM10,000 per accident within 104 weeks after accident.
(v) Double Indemnity
  • Pays double the amount of item (i) and (iii) should the accident injuries occurred in Public Transport, in an elevator or in a fire of a Public Building.

Note:
1. For any one accident, only one benefit out of item (i), (iii) and (v) is payable and any claim made under one of these 3 benefits shall automatically exclude the other respective benefits. 
2. A claim may also be payable under item (ii) and (iv), provided the total amount of claims payable for 1 accident does not exceed the Accident Indemnity  Benefit. 
3. All benefits are subject to terms and conditions.
4. All benefits payable shall be deducted, less any amount due to us (if any).
5. For full details, please refer to the Product Disclosure Sheet and Takaful Certificate.

Your life ambition could be – either a comfortable retirement, or a secure future for your family. Takaful ProInvest allows you to focus on your chosen ambition by offering benefits and features that prepare you for the worst, so you can have peace of mind while pursuing your heart’s interests.

How Does Takaful ProInvest Work?
The minimum entry age for this plan is 16 years old and maximum entry age is subject to your chosen coverage term.

Takaful ProInvest offers a wide range of diversified local and foreign funds, so you may better optimise your savings and investments with professional assistance.

Fund Name Description Fund Manager / Underlying Fund’s Manager
Zurich Takaful Shariah Edge Fund
  • The fund aims to achieve consistent capital appreciation over the long term by primarily investing in Shariah-compliant securities with good growth prospects – companies with higher earnings growth than the market average.
  • Suitable for participants with a high level of risk tolerance.
 Kenanga Investors Berhad
Zurich Takaful Shariah Global Edge Fund
  • Long term capital growth via an Exchange Traded Fund (ETF) that tracks the performance of the MSCI World Islamic Index. 
  • Consists of Shariah-compliant companies from developed countries. 
  • Suitable for participants with a high level of risk tolerance.
 BlackRock Asset Management Ireland 
Zurich Takaful Shariah Growth Fund
  • A medium to long-term investment of capital growth.
  • Suitable for participants with a high level of risk tolerance.
 Principal Asset Management Berhad
Zurich Takaful Shariah Income Fund
  • Provides a stable level of income.
  • Suitable for participants with a low-to-moderate level of risk tolerance.
 Principal Islamic Asset Management Sdn Bhd
Zurich Takaful Shariah Balanced Fund
  • Providing a stable income with potential capital appreciation over a medium to long-term investment horizon.
  • Suitable for participants with a moderate-to-high level of risk tolerance
 Principal Asset Management Berhad
Zurich Takaful Shariah Flexi Fund
  • Generates potential capital appreciation with its flexible asset allocation over a medium to long-term investment horizon
  • Suitable for participants with a moderate-to-high level of risk tolerance.
 Principal Islamic Asset Management Sdn Bhd
Zurich Takaful Shariah Growth 2
  • Provides capital growth over a medium to long-term investment horizon.
  • Suitable for participants with a high level of risk tolerance.
 RHB Islamic International Asset Management Berhad
Zurich Takaful Shariah Income 2
  • Provides a stable level of income.
  • Suitable for participants with low-to-moderate level of risk tolerance
 RHB Islamic International Asset Management Berhad
Zurich Takaful Shariah Balanced 2
  • Provides a stable level of income and capital appreciation over the medium to long-term investment horizon.
  • Suitable for participants with moderate to high level of risk tolerance.
 RHB Islamic International Asset Management Berhad
Zurich Takaful Shariah Flexi 2
  • Generate potential capital appreciation with its flexible asset allocation over the medium to long-term investment horizon.
  • Suitable for participants with moderate to high risk tolerance level.
 RHB Islamic International Asset Management Berhad

Note: For further details about fund objectives and asset allocation, please refer to newspaper publications or visit https://myt.zurich.com.my/Fund/Funds.aspx

What is Takaful ProInvest?

Takaful ProInvest is a regular contribution investment-linked plan that provides death, Total and Permanent Disability (TPD), Golden Age Disability (GAD), Accident Indemnity as well as maturity benefit. You may choose your preferred coverage term ranging from 20 or 30 years, or up to age 70, 80 or 100.

What is an Investment Linked Takaful?

An Investment-linked takaful is a family financial plan that provides investment returns and family protection coverage. One part of your Tabarru (contribution) will be used to offer accidental, disability, and death benefits and the other part will be invested in a wide range of Shariah-compliant investment funds according to your needs and risk tolerance.

What are the Travel benefits offered by Takaful ProInvest?

If you are travelling frequently domestically or overseas, Takaful ProInvest ensures that your family is financially protected in the event of any unfortunate circumstances, with up to 300% of your Basic Sum Covered and Accident Indemnity benefits up to age 75.

How does Family Care Privilege work?

Takaful ProInvest safeguards the interests of your family and loved ones even in your absence. In the event of death of the Person Covered, up to 4 legal spouses and/or children are eligible to participate in a new Zurich family takaful plan with up to 25% of Basic Sum Covered, subject to RM300,000 per life, without medical underwriting. Subject to terms and conditions.

Is the contribution made for Takaful ProInvest eligible for income tax relief?

Yes. The contribution made are entitled to income tax relief in addition to your other family takaful or life insurance plans, subject to the final decision of the Inland Revenue Board of Malaysia (IRB).

What are the top-up options available under Takaful ProInvest?

The following top-up options are available for you to increase the value of your Participant Investment Account (PIA):

  • T-Saver – Regular top-up from as low as RM10 per month
  • Irregular Top-up – Anytime with a minimum lump sum of RM500

How does auto-extension work?

Your coverage term will be auto-extended up to age 100 upon expiry of the initial coverage term (20 or 30 years, or up to age 70 or 80) without medical underwriting. We will notify you of the auto-extension, any additional contribution required for the extended period and action to be taken by giving at least 90 days' notice prior to the auto-extension. If you do not wish to proceed with the auto-extension, you may inform us in writing prior to maturity. Please refer to the example below with various initial coverage terms:

Should Adam (aged 30, male, non-smoker, invested in Zurich Takaful Shariah Growth Fund) sign up for Takaful ProInvest with a Basic Sum Covered of RM200,000:

Chosen Initial Coverage Term  Initial Annual Contribution (RM)  Annual Contribution After Auto-Extension Until Age 100 (RM)
20 years 2,400 8,300
30 years 2,700 11,550
Up to age 70 3,000 17,200
Up to age 80 4,500 18,200
Up to age 100 6,000 Not Applicable

The contribution indicated in the comparison table are not guaranteed and may be different depending on sustainability projections, which will be calculated based on estimates of future outcomes at point of calculation. The contribution required to be paid during the extended period may change from time to time and will be indicated in the annual statement at least once every 5 years.

The attaching riders (if any) will also be extended automatically to the respective maximum term available without medical underwriting, unless otherwise terminated earlier on or prior to the maturity. For full details of the auto-extension, please refer to Product Disclosure Sheet.

 

Is fund switching allowed? Is there any fund switching fee?

Yes, fund switching is allowed. To suit your risk tolerance level, you may switch your fund anytime and the fund switching fee is waived.

What is not covered by Takaful ProInvest?

Some of the events not covered under Takaful ProInvest are listed below. Please note that this list is not exhaustive and reference should be made to the comprehensive list in the Product Disclosure Sheet and Takaful Certificate.

  • Death Benefit- Death Benefit shall not be payable for Death from suicide within 1 year from this Principal Certificate Commencement Date or Reinstatement Date, whichever is later, whether the Person Covered is sane or insane. Our liability shall be limited to the Participant Investment Account (PIA) value on the date of death.
  • Total and Permanent Disability Benefit and Golden Age Disability Benefit- This Certificate shall not cover any disability caused directly or indirectly, wholly or partly, by and of the following occurrences:
    a. Any self-inflicted injuries while sane or insane; or
    b. Travel or flight in or on any type of aircraft except on a regular scheduled passenger flight of a commercial aircraft.
  • Balik Kampung, Overseas Accidental Death Benefit and Accident Indemnity Benefit- This Certificate does not cover any accidental death or injuries arising directly or indirectly, wholly or partly, by any one of the following occurrences:
    a. Violation or attempted violation of the law or resistance to arrest; or
    b. Hernia, ptomaines or bacterial infection (except pyogenic infection which shall occur with and through an accidental cut or wound).

Zurich Takaful operates under the principle of Wakalah, whereby the Takaful Operator acts as an agent to the Participant for managing the operations of the Takaful business. A Wakalah Fee will be charged up-front from the contributions made. Tabarru’ (donation) will be deducted to the Participant Risk Investment Account (PRIA), where it will be used for mutual aid and assistance, based on the concept of Takaful. The benefits are paid from the PRIA only upon a covered loss, and not upon maturity or surrender of the certificate. Surplus Sharing (if any) at the end of each financial year will be shared between the Participant, and Zurich Takaful at a 50:50 ratio. The investment profit earned on the Participant Investment Account (PIA) is derived from the return on underlying assets and Zurich Takaful charges a Wakalah Bi al-Istithmar Fee (Investment Agency Fee) for managing these assets. The investment risk in PIA is fully borne by the Participant. 100% of investment profit earned, net of tax, less the aforementioned Wakalah Bi al-Istithmar Fee, will remain in the PIA for the benefit of the Participant. There will be no further sharing of the investment profit arising in the PIA with Shareholders.

The benefit(s) payable under this product is (are) protected by PIDM up to limits. For more information, please refer to PIDM's Takaful and Insurance Benefits Protection System brochure on Zurich General Insurance Malaysia's website or PIDM's website.