i-Wealth Flex (Takaful)

Key Features

Highlights of i-Wealth Flex:

Flexible commitment and coverage duration to fit your life goals

• i-Wealth Flex provides you the flexibility to meet your needs and achieve your life goals by offering 2 types of contribution payment and coverage options.
  You can choose: a. 3Pay15 b. 5Pay20

Annual Cash Payout (ACP) Benefit Option

• i-Wealth Flex offers you the high level of flexibility, 2 plan options for you to choose to match your financial capability and life goals.
  You can choose:
  Plan 1: Annual Cash Payout Benefit
  You will receive annual cash payout (ACP) starting from the end of your first certificate year. ACP will go straight to your bank account.

  3Pay15		5Pay20
  Certificate Year	% of annualised contribution	Certificate Year	% of annualised contribution
  1-3	5%	1-3	5%
  4-6	6%	4-6	6%
  7-9	7%	7-9	7%
  10-12	8%	10-12	8%
  13	10%	13-15	9%
  14	12%	16-18	10%
  15	15%	19	12%
  -	-	20	15%

  
  Plan 2: Growth in Account Value
  Contribution that you pay will be allocated and invested into Participants’ Fund managed by FWD Takaful. Based on the investment performance and returns, the certificate account value may build up and increase through the investment returns earned from the fund.

Simple and Hassle-Free Enrolment

• High guaranteed issuance limit with no medical underwriting up to RM1,000,000 of annual contribution.

Extra 5% Fund Booster

• Receive extra 5% Fund Booster of your annualised contribution at the end of the 10th certificate year when you complete your payment commitment. Fund Booster is Hibah from the Takaful Operator and at the discretion of the Takaful Operator.

Death & Total and Permanent Disability Benefit

• If the person covered passes away or suffers from total and permanent disability (TPD) due to any cause, we will pay the higher of the certificate account value in the Participants’ Fund (PF) or Prevailing Sum Covered (PSC) minus total ACP paid¹. If the person covered passes away due to accidental causes before 70 ANB, additional 100% of total contribution paid will be payable as accidental death benefit (ADB).
  
  PSC is a percentage of total contribution paid, as follows:

  Certificate Year	Entry Age (Plan 1)		Entry Age (Plan 2)
  	1-55 ANB	56-70 ANB	1-55 ANB	56-70 ANB
  1 and 2	100%	100%	100%	100%
  3 and above	115%	105%	115%	105%

  
  Juvenile lien is applicable, wherein if the death or TPD or Accidental Death² of the person covered occurs before age 5 next birthday, the benefit will be reduced based on the following:

  Age Next Birthday (ANB)	% of (PSC minus total ACP paid1)
  1	20%
  2	40%
  3	60%
  4	80%

Maturity Benefit

• Upon certificate expiry, you will receive a maturity benefit that is the higher of the certificate account value in the PF or Maturity Value (MV) minus total ACP paid¹.

  Maturity Value (MV) = % of total contributions paid
  Plan 1		Plan 2
  3Pay15	5Pay20	3Pay15	5Pay20
  115%	120%	115%	120%

Non-Lapse Facility⁴

• The certificate will continue to stay in force until maturity even if the certificate account value in the PF is depleted due to poor investment return or high monthly deduction.

Notes:

1. The ACP benefit is only applicable for Plan 1.
2. For ADB under Juvenile Lien, the benefit payout will be reduced based on % of TCP.
3. There is a limit of RM7,500,000 and RM5,000,000 for TPD and accidental death benefits respectively. This limit is on a cumulative basis. It applies to all TPD and accidental death benefits payable under family takaful certificates (including riders) still active and issued by us, including this certificate, of the same person covered.
4. Subject to conditions.

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