- What kind of life insurance products will Bankassurans
offer?
Bankassurans will offer a basket of core products of whole life, endowment
and term policies plus a basket of optional riders which provide additional
benefits upon payment of an additional premium.
- What is the difference between a participating and a
non participating plan?
A participating plan will receive bonuses dependent on the
company's profit, the non participating plan will not receive any bonuses.
- What is the meaning of a lien provision in a child policy?
The lien provision means only a certain percentage of the sum assured will be
payable (if death occurs) according to the age of the child, if the child is to be 5 years of age at the next birthday then the full sum assured is payable.
- What is the waiting period for dread diseases?
The initial waiting period for dread diseases will be 60 days from the issue
of policy or reinstatement and the survival period will be 30 days from the date
of diagnosis.
- Is the Total and Permanent Disability Rider
automatically built-in to all the policies of the company?
Yes this rider is automatically built-in to all policies.
- Can a student of majority age (16 years old) purchase the
PremierCare/VIP Care?
Yes.
- What is the waiting period of Waiver of Premium
of Critical Illness for a child policy?
60 days from the date of issue or the reinstatement of the policy.
- Is the YippieCare/Oh Wow Care considered to be
an education policy and can be treated for tax relief?
Yes YippieCare/Oh Wow Care is an education policy and therefore it can be given tax relief.
- If the parents have a joint assessment situation in
their tax, how much will the allowable tax relief be?
If this is the situation then the maximum allowable tax relief for education
policies is RM2,000.00.
- What are the non-forfeiture options available?
The non-forfeiture options available are Cash Surrender Value, Paid-up
Insurance and Automatic Premium Loan.
- Will the proceeds be payable once a person commits
suicide?
If death occurs due to suicide, within one year from the issue or
reinstatement of the policy, only premiums will be refunded, but if it happens after
one year from the issue or reinstatement date then the full proceeds is payable.
- Can grandparents/uncles and aunties be the proposer of
YippieCare/Oh Wow Care to a child?
Yes, provided they are the legal guardians of the child and they have the supportive documents to prove it.
- Can a foreigner be considered for coverage?
Anyone who has been a Permanent Resident in Malaysia is eligible to apply for
insurance here as long as the proposal form is signed in Malaysia and the
coverage is in Malaysian Ringgit.
- Do you have a personal accident policy on its own?
We are not allowed to offer Personal Accident policies on their own. We are, however, allowed to issue personal accident as a rider and one of the Personal riders
is the Accidental Death and Dismemberment.
- Will YippieCare/Oh Wow Care policy cover
a kidnapped child?
We do not cover kidnapping, however we would cover the child in the event of
death or disability of the child due to the kidnapping.
- If ADD is terminated can the customer reapply again?
Yes however it is subject to the discretion of Mayban Life Assurance Berhad.
- Can a customer go for surgery more than once for the same
type of disease?
Yes but subject to the benefit limit and provided it is not a pre-existing
condition i.e before the policy was bought.
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