Be the Hero your family needs
Kuala Lumpur, December 2, 2019
– Zurich Takaful Malaysia Berhad (Zurich Takaful) has launched a new plan – Takaful Family Hero, a protection plan designed to support Malaysians who wish to do better in life for themselves and their loved ones by helping them safeguard their finances against unexpected events.
In a first-of-its-kind offering in the takaful industry, the plan provides a recovery benefit, where a sum equivalent to 5% of the coverage amount is paid out annually for 10 years should a customer suffer from total and permanent disability. It reflects Zurich’s commitment in creating innovative protection solutions that address the biggest challenges to Malaysians’ lives and wellbeing – the debt gap.
According to a report by Khazanah Research Institute1, mortgages as a share of total loans has risen 10 percentage points since 2006 to 58%, further reducing the households’ ability to save. Without proper safeguards against current debts, sudden loss of income arising from an unexpected crisis can wipe out lifelong savings and lead to financial difficulties.
Zurich Takaful’s Chief Executive Officer, Mukesh Dhawan said, “The idea behind Takaful Family Hero stemmed from our understanding of the challenges faced by Malaysians in their lives. For instance, many households are burdened with substantial debts as breadwinners take on commitments to provide a better life for their families. It is easy to fall into a false sense of security and as a result, many are unable to cope with a sudden loss of income. Thus, we have designed this protection solution to help Malaysians build a strong safety net so that they can live their lives with full confidence.”
Takaful Family Hero offers the following features and benefits:
- ‘Balik Kampung’ benefit
Customers can enjoy higher protection cover of up to three times the basic coverage during public holidays, where many would be travelling back to their hometown to visit loved ones.
- Ziarah Plus Benefit, as well as Hajj by Proxy, Qurban, Waqaf and Charity Services
Up to RM50,000 is payable should customers suffer from unfortunate events while performing their Hajj or Umrah. Customers may also supplement the plan in association with Amanah Raya Berhad to fulfil religious obligations.
- Family Care Privilege
The plan allows customers to extend the protection coverage to up to four (4) legal spouses and their children. Upon the death of the breadwinner, nominated family members can opt for coverage of up to RM300,000 per person, without any underwriting.
For enhanced protection, customers have the option to add on the KritikalCare Essential rider, which provides coverage for 50 critical illnesses, as well as the KritikalCare Waiver, which waives the contribution upon diagnosis of any one of the illnesses.
Zurich Takaful provides a Shariah-compliant payment gateway – PayHalal, which eliminates elements of Riba’ (usury) and Gharar (unknown consequences) to offer greater peace-of-mind. Contributions can also be made through multiple channels at the convenience of customers such as by online banking, auto debit / direct debit as well as via Boost or Touch ‘N Go e-wallets.
With over a decade of takaful market expertise and a dedicated agency force, Zurich Takaful is one of Malaysia’s leading provider of holistic, end-to-end shariah-compliant family takaful solutions comprising protection, medical and health, savings, and investment solutions.
1 Different realities, State of Households 2018, Khazanah Research Institute