9.0 Company’s name: Takaful Ikhlas Sdn.

Bhd (K9)

Insurance product: IKHLAS BASIC CRITICAL ILLNESS TAKAFUL

9.1 SUMMARY

This is a basic regular contribution medical and health takaful plan that provides coverage in
the event of the Person Covered is diagnosed with a covered Critical Illness, either stroke,
heart attack or cancer. It is a commission free pure protection plan, which combines low
cost with high takaful coverage amount

9.2 BENEFITS

In the event of Person Covered is diagnosed with a covered Critical Illness and while the
Takaful Certificate is in force, 100% of sum covered will be payable to the Takaful
Participant. The maximum sum covered per Person Covered is capped at RM100,000 per
illness. The Takaful Certificate will automatically be terminated once the full amount of
benefit is paid.

The list of covered critical illness offered are as follows:

● Heart Attack
● Stroke
● Cancer

The maximum amount of the Sum Covered payable from all Takaful Certificates written with
Takaful Ikhlas Family Berhad on the life of the same Person Covered for all direct channel
critical illness products offered by the Company shall not exceed RM100,000 per illness.

ELIGIBILITY PROPERTIES

Age Coverage 17 - 55 years old (Age of next

birthday)

Person Covered Individual / Self only

Maximum Expiry Age 65 years old.

Term of the Contract 5 - 20 years

9.3 PREMIUM CALCULATION

There are 3 optional sum covered available to choose :

Gross Annual Takaful Contribution varies depending on age, gender, smoking status,
certificate term and Sum Covered applied. The contribution can be made on a monthly,
quarterly, semiannually or yearly basis. The table below show sample Takaful Contribution
amount per RM20,000 Sum Covered for 5 years term of:

Example :
A 30 years old man, non-smoker and based on standard life proposed a medical and health
takaful plan. The Sum Covered applied is RM20,000 for a 25 years term.

Age : 30 years old

Sum assured : RM20,000

Policy terms, n : 25 years

Annual Payment : RM 143.10

Total monthly premiums payable per year

= RM 143.10 / 12 = RM 11.93

Total premium payable for 5 year

A x :n∨¿=A ¿ 1
x :n∨¿ + A ¿
1
x : n∨¿ ¿

¿ A x: n∨¿ ¿
1

¿ 20000 ( v n × n p x )

( )
n
1
¿ 20000 ×n px
1+i
¿ 20000 × 55 p 30

( ) 1
5
l 55
¿ 20000 ×( )
1+0.06 l 30

¿ 20000 ( )
5
1 8640918
×( )
1+0.06 9,501,382
¿ RM 13591.70