Who Does This Benefit?
- My Legal Spouse & I: Age 19 – 60 years next birthday
- My Children: 30 days old – 19 or 23 years next birthday (full-time student)
- My Families: Who are looking for an affordable investment linked insurance plan
Authorized Distributor:
Underwritten By:
Group Multiple Benefits Insurance Scheme (GMBIS)
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| Benefits | |
|---|---|
| RM30 Premium / month | |
| Sum Assured | |
| 45 critical illnesses | RM30,000 |
| Death (natural cause / illness) | RM30,000 |
| Total and Permanent Disability (TPD) due to illness | RM30,000 |
| Accidental death | RM60,000 |
| Total and Permanent Disability (TPD) due to accident | RM60,000 |
| Daily hospital cash allowance up to 500 days per life | RM30/day |
| Funeral expenses | RM5,000 |
| Total Investment Value (TIV) | Based on Net Asset Value (NAV) |
The maximum limit for withdrawal is 80% of the total investment value, subject to a minimum of RM200.
A fund where 80% to 100% of the investments are in equities. This fund seeks to achieve medium to long-term capital appreciation. Although the fund invests mainly in Malaysia (50% to 100%), it may also partially invest in companies that have significant business operations in Singapore (up to 25%) and Greater China (Mainland China, Hong Kong, Macau and Taiwan) (up to 25%), if and when necessary, to enhance the fund’s returns. The fund only invests in Shariah-approved securities.
Source: https://www.greateasternlife.com/content/dam/dmassets/great-eastern/malaysia/gelm-brand-comm/gelm-about-us-media-centre/annual-report/gelm-bc-mc-ufar-eng-2022.pdf| End of Policy Year | |||||
|---|---|---|---|---|---|
| Total Contribution | |||||
| Non - Guaranteed | |||||
| Projected Investment Return of Fund: Y% | Projected Investment Return of Fund: X% | ||||
| 5% | 2% | ||||
| Cash Value | Death Benefit | Cash Value | Death Benefit | ||
|
5 |
1,800 |
562 |
30,562 |
524 |
30,524 |
|
10 |
3,600 |
1,216 |
31,216 |
1,057 |
31,057 |
|
15 |
5,400 |
1,979 |
31,979 |
1,599 |
31,599 |
|
20 |
7,200 |
3,032 |
33,032 |
2,306 |
32,306 |
IMPORTANT NOTE:
1. The Intermediary Commission amounts to 10% of premium charges while the Service fee amounts to 2% of premium charges.
2. Free-look period - you may terminate the plan by returning the Certificate of Assurance to the Company by hand or registered post within fifteen (15) days after your receipt of the same. If the plan is terminated during this period, the Company shall refund an amount equal to the sum of,
Underwritten By:
No, this policy is not a medical card hence the customer will not be covered for medical and hospital treatments. However, there is a hospitalization benefit (hospital income) included under this policy whereby the customer may claim RM30 daily hospital cash allowance for up to 500 days per lifetime.
The payout for the coverage will be payable as long as the claim submitted meets the definition of the covered events included in this policy.
The company will pay full death benefit due to suicide occurring after twelve(12) months from the commencement of the assurance. The policy does not cover for suicide within (12) months from the commencement of the assurance.
Policyholders will receive a total sum of their premium contribution for all claims(pre-existing conditions) received within 2 years from the policy in-force date. No other claim amount will be payable except for the hospitalization income benefit(non pre-existing conditions) which is payable in accordance to the Master Policy Contract. This will be effective with immediate effect and applicable for all policyholders.
The customer will be entitled to claim a maximum of 50% of the coverage due to the waiting period imposed.
Yes, the customer will still be covered under the insurance plan even though the withdrawal is activated. However, this is not encouraged as it may affect the overall investment value of the scheme.
The customer will be entitled to claim a maximum of RM60,000 under the Total and Permanent Disability (TPD) benefit.
The investment value is based on the performance of the fund. As an average, customer can expect 40 – 50% returns of the premium contribution as their investment returns. Subject to T&Cs.
No. This investment-linked insurance plan offers investment returns in which the returns are subjected to the performance of the fund.
Yes. GMBIS is eligible for tax deduction (under the life/medical insurance portion).
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