In the event of your death, as the person covered, we will pay the reducing sum as at the date of your death. We will make the payment in one lump sum from the Participants' Tabarru' Fund.
In the event that you, as the person covered, suffer Total and Permanent Disability (TPD), we will pay the sum at risk for Total and Permanent Disability (TPD) benefit as at the date the Total and Permanent Disability (TPD) begins. We will make the payment in one lump sum from the Participants' Tabarru' Fund and Participant Account.
Optional Benefit – Refund of Contribution (ROC) Rider
This is a single contribution plan offered to our business financing clients. At the end of the certificate term, we will pay the total contribution you have paid, including basic contribution, rider contribution and any loading imposed, but excluding service tax.
Death Benefit
In the event of your death, we will pay the death benefit as at the date of your death, plus the rider contribution. These will be paid from the Participants’ Tabarru’ Fund. If your death is due to accidental causes, we will pay an additional 100% of the rider contribution you have paid.
TPD Benefit – own and similar occupation
In the event of your TPD, we will pay the reducing sum covered for TPD benefit as at the date the TPD starts, plus the rider contribution paid. These will be paid from the Participants' Tabarru' Fund. If the TPD is due to accidental causes, we will pay an additional 100% of the rider contribution paid.
If the amount of the TPD benefit payable is equal to the reducing sum covered for the death benefit, we will terminate the certificate once we make payment for this benefit.
If the TPD benefit payable is less than the death benefit, then starting on the date TPD begins, we will continue the takaful coverage on death for the remaining balance of reducing sum covered.
The reducing sum covered for the death benefit for all future terms will be reduced. The amount of reduction will depend on how much has been paid for the TPD benefit as compared to the amount of the reducing sum covered as at the date the TPD begins. This reduction will apply from the date the TPD begins.
Once we pay the TPD benefit, we will terminate this rider no matter how much TPD benefit was paid.
The maximum aggregate amount of TPD we will pay for each person covered, under this and all other individual and group takaful certificates except for the ROC rider, shall not exceed RM2,000,000.
Final Benefit
We will pay the total contribution you have paid, including basic contribution, rider contribution and any loading imposed, but excluding service tax, from the Participants' Tabarru' Fund.
Open to all customers of CIMB who sign up for business financing
| MRTT | ROC | |
|---|---|---|
| Entry Age Limit (age as at last birthday) |
Minimum Entry Age: 18 years old Maximum Entry Age: 65 years old Expiry Age: 70 years old (not inclusive of the deferment period) |
Minimum Entry Age: 18 years old Maximum Entry Age: 60 years old Expiry Age: 70 years old (this is used to determine the certificate term on the proposal signed date) |
| Certificate Term | Minimum Term: 3 years Maximum Term: 40 years (Not inclusive of the deferment period. Certificate will still expire once the person covered reaches 70 years old, even if the maximum term has not yet been reached.) |
Minimum Term: 10 years (including deferment period) Maximum Term: 20 years, plus a maximum of 5 years for the deferment period, if any. |
| Deferment Period | Minimum Term: 0 year Maximum Term: 5 years |
Minimum Term: 0 year Maximum Term: 5 years |
| Sum Covered | Minimum Sum Covered: RM 10,000 Maximum Sum Covered: No limit. Subject to underwriting should the Sum Covered exceed RM450,000. |
Sum Covered for Rider is equal to the rider contribution. |