Insurans etiqa takaful (2)

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Insurans etiqa takaful (2)

  1. 1. PRESENTATION 2 PA305 – AKPK’S INSURANS ETIQA TAKAFUL MUHAMAD RADHZI BIN A RAHMAN 16BPM12F2002 SHAIFUL NIZAM BIN ABD RAHMAN 16BPM12F2003 MOHD IHSAN HAKIM BIN ROZALI 16BPM12F2004 MOHD IZUAR BIN MAZLAN 16BPM12F2005 AZRUL FAZLI BIN MAT SAID 16BPM12F2009 MUHD ADIEB ADZRAI BIN ISLAKHUDDIN 16BPM12F2010
  2. 2. WHY YOU NEED INSURANCE & WHAT IS INSURANCE? When you make a financial commitment, such as purchasing a house by borrowing money from the bank, you have locked part of your future income. Should there be an unfortunate natural event (death or disability) or an economic catastrophe (retrenchment), where your ability to meet these commitments have been impaired, the possibility of losing your hard-earned asset is real. There is a financial instrument that you can purchase to protect you from such an eventuality – insurance. It is a means of giving you a financial buffer or protection in case something happens to you, your family or your belongings.
  3. 3. PURPOSE ON INSURANCE In offering you such protection, insurance is providing you with a peace of mind. The money you put towards insurance will enable you to: 􀂄 pay for damages to your personal belongings or to replace items that had been stolen (provided such items are insurable); 􀂄 pay for medical bills when you or your family members are hospitalised; 􀂄 take care of your monthly living expenses, debts and financial commitments when you are not able to work due to a serious illness or an accident; 􀂄 provide some financial support to your family in the event of your disability, serious illness or death, particularly if you are the breadwinner of the family.
  4. 4. TYPES OF INSURANCE Life insurance A life insurance policy insures you and your life against risks such as premature death, illness, disability and hospitalisation. It is important to have if there are people depending on you, whether they are young children or aged parents. The coverage period is usually more than a year and you have a choice of making premium payments monthly, quarterly, semi-annually or annually throughout the coverage period.
  5. 5. The main life insurance products are: 􀂄 Whole life: This offers lifelong protection but you must pay premiums throughout your life. The claim amount (sum insured), including bonuses, will be paid upon death, total and permanent disability or critical illness. Due to the long-term nature of the policy, the premium is higher than for term insurance and it provides cash value during the term of policy. 􀂄 Term life: This offers protection for a limited period of time only. The money will be paid only upon death, total and permanent disability or critical illness during the term of the policy and according to the amount agreed upon when buying the policy. 􀂄 Endowment: This combines protection and savings. This policy provides cash benefits at the end of a specific period or upon death or total and permanent disability during the same period. The coverage period is determined by the buyer. 􀂄 Investment-linked: This combines investment and protection. Under this policy, you get to choose the type of investment fund you wish to place your investment and the amount of life insurance coverage you wish to have. The amount of premium is flexible.
  6. 6. 􀂄 Medical and health: This helps to cover the cost of medical treatment, particularly in regard to hospitalisation and surgery. 􀂄 Mortgage reducing term: This is usually a single premium policy with the coverage amount matching the scheduled outstanding balance of the loan. In case you default on the payments due to illness or disability or upon premature death, the policy will settle the loan and the bank will release the ownership of the house to you or your beneficiaries.
  7. 7. INSURANCE PROCESS 1. Standing Instructions (Quotation) 2. New applications & registration 3. Payment Method 4. Insurance Branch 5. Policy Insurance & Feedback
  8. 8. STANDING INSTRUCTIONS QUOTATION Insurance Agency Agen make a qoutation with full details for client and proceed to next level.
  9. 9. NEW APPLICATIONS & REGISTRATION Client wants make an insurance and agent shared about insurance company providing product or services that with terms and condition Insurance Agency
  10. 10. Payment Method Auto Debit Payment Method Credit Card Biro Angkasa
  11. 11. Branch & Feedback Policy • • Branch Agent bring the policy to branch make a payments before proceed to Headquarters. Feedback Policy After branch has done made a settement by client details, then the payments will proceed to Headquarters and wait for the feedback 2 weeks inforce.

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