This plan applies the wakalah (agency) concept, where all Certificate Holders appoint AmMetLife Takaful as a wakeel (agent) to act on their behalf to invest and manage the Participant Investment Fund(“PIF”) and Participants Risk Fund (“PRF”). AmMetLife Takaful is entitled to a wakalah fee for managing and investing the funds.
This is the net of contribution after the deduction of the wakalah fee and will be allocated into the PIF. The tabarru’ amount is deducted monthly from your PIF and allocated into the PRF. The tabarru’ amount increases as you grow older.
This is an interest-free loan from AmMetLife Takaful in the event that the PRF is in deficit. The loan will be paid from the future surplus arising from the PRF.
Visiting Baitullah Al Haram (the Holy Kaabah) in Mecca in the months of Hajj pilgrimage to perform the specific rites according to the terms and conditions.
Visiting Baitullah Al Haram (the Holy Kaabah) in Mecca at any time to perform the specific rites according to the terms and conditions.
Performing Hajj (pilgrimage to Mecca) on behalf of those who is unable to perform Hajj due to certain barriers such as sickness, death, old before fulfilling the Hajj obligation.
A voluntary, permanent, irrevocable dedication of a person’s wealth or a portion of it for religious, educational or charitable cause.
- Wakalah Fee – A percentage of the contribution will be charged to cover for management expenses and direct commissions, as follows:
Contribution Year Wakalah Fee (%)
- Tabarru’ - Monthly tabarru’ (donations) deducted from the PIF depending on your age, gender and sum covered.
- Surrender fee of :
- RM100, plus GST RM6; or
-10% of surrender value plus applicable GST of 6% on surrender fee
Whichever is lower.
In the event of the participant’s death/TPD prior to attaining the age of four years, the sum covered payable under the certificate shall be as follows:
|Age at death
||% of Sum Covered Payable
4 and above100%
Partial withdrawal from PIF is allowed from the 5th certificate year, subject to RM1,000 minimum withdrawal amount and RM2,000 minimum remaining PIF after such withdrawal.
Pre-existing illness and conditions means any medical conditions, which have been diagnosed or have required medical treatment prior to the commencement date of this takaful coverage, regardless of whether treatment was actually received.