Hire Purchase Smart Shield (HPSS) offers insurance protection up to 9 year(s) for Life Assured of your Toyota Capital Financing against contingencies to repay any outstanding loan.
Life protection on your car loan with 100% of Applicable Sum Assured upon Death or Total and Permanent Disability (TPD)
Guaranteed Acceptance even with the non-communicable diseases - diabetes, hypertension, high cholesterol or obesity
Minimum |
Maximum |
|
Age of Entry |
18 |
65** |
Coverage Term |
2 years |
9 years** |
Sum Assured |
RM 2,000 |
RM250,000 |
** subject to maximum expiry age of 70 years old earest birthday
Estimation Insurance premium (RM) with an average net loan of RM80,000 |
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Term/Age |
2 |
3 |
4 |
5 |
6 |
7 |
8 |
9 |
18-30 |
776 |
1,172 |
1,552 |
1,932 |
2,308 |
2,676 |
3,048 |
3,416 |
31-40 |
804 |
1,224 |
1,656 |
2,100 |
2,548 |
3,016 |
3,496 |
3,980 |
41-50 |
804 |
1,224 |
1,656 |
2,100 |
2,548 |
3,016 |
3,496 |
3,980 |
51-60 |
2,664 |
3,816 |
5,044 |
6,348 |
7,676 |
9,076 |
10,544 |
12,084 |
Features |
Description |
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Cooling off Period |
The Life Assured may request to cancel his/her insurance cover, within 15 days after the delivery of the Certificate of Insurance, via the Policy Owner and return the Certificate of Insurance to the Company and immediately inform the Company to cancel the insurance of the Life Assured and received refund of the premium paid less medical fee incurred, if any. |
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Termination of Coverage |
The coverage on a Life Assured shall terminate on the earliest of the following events a. The date of the Life Assured's death or a valid claim from TPD Benefit; b. The Expiry Date of Insurance as stated in the Certificate of Insurance; c. For Accidental Death and TPD Benefit only, the end of the Policy Year when the Life Assured attains the age of 70 nearest birthday or; d. Written notice by the Policy Owner to Us on the cancellation of the Certificate of Insurance. |
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Servicing Guidelines |
Change of plan and change in sum assured is not allowed, |
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Underwriting |
Guaranteed Acceptance. |
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Maturity Benefit |
Not applicable. This is a term product. |
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Easy Loan Settlement |
If the Life Assured settles the loan by full repayment on an earlier date than the original expiry date as stated in the Certificate of Insurance, the coverage for the remaining term of the original duration of the coverage will continue automatically, unless otherwise notified by the Policy Owner to TMLM to surrender the Certificate of Insurance for cash surrender value. |
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Surrender Charge |
30% of the total surrender value. |
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Attachable Riders |
Not applicable. |
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Reinstatement |
Not applicable. |
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Interested? Please scan the QR code or click here for WhatsApp or submit your contact details in the form below for more information. We will contact you as soon as possible.
Alternatively, you may call to 03-2727 8880 for more information.
Thank you for your interest in our product.
INFORMATION CONFIRMATION FORM
1. What is this plan?
Hire Purchase Smart Shield (HPSS) is a single premium insurance plan with term up to 9 years, designed for your car loan protection in the event of Death or Total Permanent Disability (TPD) and the Sum Assured reduces over the coverage period. Additional 100% of the Applicable Sum Assured is payable upon Accidental Death or Accidental TPD.
2. How much premium do I have to pay?
It is a single (one-time payment) premium plan which provides coverage for your whole loan tenure. The premium may vary depending on the underwriting requirements (if any).
3. Is there any cooling off period?
The Life Assured may request to cancel his/her insurance cover, within fifteen (15) days after the delivery of the Certificate of Insurance via the Policy Owner and return the Certificate of Insurance to the Company and immediately inform the Company to cancel the insurance cover of the Life Assured and receive refund of the premium paid less medical fee incurred, if any
4. In what event(s) the coverage will be terminated?
The coverage on a Life Assured shall terminate on the earliest of the following events
a. The date of the Life Assured's death or a valid claim from TPD Benefit
b. The Expiry Date of Insurance as stated in the Certificate of Insurance
c. For Accidental Death and TPD Benefit only, the end of the Policy Year when the Life Assured attains the age of seventy (70) nearest birthday or
d. Written notice by the Policy Owner to Us on the cancellation of the Certificate of Insurance
5. Is change of plan or change in sum assured allowed?
Not Allowed.
6. What will I receive upon the maturity of this policy?
Not applicable as this is a term product.
7.Can I surrender the plan at any time?
You can, but there is a 30% charge on the total surrender value.
