This plan is underwritten by AIA PUBLIC Takaful Bhd., a Takaful operator licensed under the Islamic Financial Services Act 2013 and regulated by Bank Negara Malaysia.
Contact Details: AIA PUBLIC Takaful Bhd. 201101007816 (935955-M), Menara AIA, 99 Jalan Ampang, 50450 Kuala Lumpur
AIA PUBLIC Takaful Bhd. is a member of PIDM.
The benefit(s) payable under eligible takaful certificates / products is (are) protected by Perbadanan Insurans Deposit Malaysia ("PIDM") up to limits. Please refer to PIDM’s Takaful and Insurance Benefits Protection System ("TIPS") Brochure or contact AIA PUBLIC Takaful Bhd. or PIDM (visit www.pidm.gov.my).
Protect Your Growing Business
Owning a business is one of your biggest achievements in life. In most cases, a business financing is obtained to fund the required capital to start a business. In protecting what you have started and ensuring your business sustainability, Business Financing Term Takaful 2 (BFTT2) is designed to provide you with Takaful coverage for your business financing portfolio to ensure payment of the outstanding financing if any unfortunate event happen.
The person covered under BFTT2 are Directors/Keyman/Shareholders of SME/Private Limited Companies standing as guarantors for the financing and Sole-proprietors/Partners as customers (person taking the financing).
BFTT2 is a Single Contribution group plan and there are 2 options for you to choose from based on your business financing term:
- Reducing – Business Financing Reducing Term Takaful 2 (BFRTT2) for Term Financing-i
- Level - Business Financing Level Term Takaful 2 (BFLTT2) for Cash Line Facility-i
How Can Business Financing Term Takaful 2 Help You?
- Financing Settlement
- In the event of death or disability of the person covered, the sum covered settles your outstanding financing.
- Hassle Free
- When your business financing is protected, your family members or business partners have nothing to worry about of the payment of the financing should the unexpected event happen to you.
- Freedom to Grow
- Innovate your entrepreneurship in growing the business since your business is protected.
- Anytime, Anywhere
- The protection is guaranteed no matter where you are, 24 hours a day.
What Are The Benefits?
| Plan Options | Sum Covered | Death/Disability | Accidental Death |
|---|---|---|---|
| Business Financing Reducing Term Takaful 2 (BFRTT2) | As the outstanding financing reduces each year, so does the sum covered | Lump sum payment according to the Schedule of Sum Covered or Account Value, whichever is higher | If accidental death occurs within ninety (90) days from the date of Accident, an additional ten percent (10%) of the amount of coverage in accordance with the Schedule of Sum Covered or RM 150,000, whichever is lower, will be payable. |
| Business Financing Level Term Takaful 2 (BFLTT2) | Sum covered is fixed, regardless of the outstanding financing | Lump sum payment according to the Schedule of Sum Covered or Account Value, whichever is higher | Not applicable |
What is not covered by BFRTT2 and BFLTT2 ?
Events that are not covered by BFRTT2 and BFLTT2 include:
- For Death:
- Suicide while sane or insane within six (6) months from the effective date of takaful coverage.
- For Total and Permanent Disability:
- Attempted suicide while sane or insane and whether felonious or not, self- inflicted bodily injury, disorderly conduct or deliberate exposure to unnecessary danger; or injuries sustained while engaging in hunting, mountaineering, aviation (except as a fare-paying passenger on a commercial airline), naval, military or aeronautical service, or racing (other than foot-racing) of any kind; or existing conditions at the effective date of takaful coverage.
- For Accidental Death (for BFRTT2 only):
- Suicide or attempt to commit suicide, while sane or insane or self-inflicted injuries; or injuries sustained while under the influence of alcohol, any non-prescribed drugs, narcotic or illegal drugs.
- And other standard exclusions.
The above description, benefits, exclusions, terms and conditions are described in summary and not exhaustive. Details of the complete terms, conditions and exclusions are available in the Takaful Certificate.
To find out more, call us now at our one stop contact centre 603-2170 8000 or visit any of our branches for more information!
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