• Be Worry Free

• Enjoy the benefits of this investment knowing that the hire purchase is now protected.
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• Settlement of Outstanding Amount Financed

• In the event of death, total and permanent disability or accidental death, your sum covered will be used to settle your outstanding amount financed. If there is any balance, it would be payable to your nominee(s), if any.

• Personal Asset

• Your family will not have to reach into their own savings in order to settle the outstanding hire purchase financing amount.

• No Litigation Issues

• Free your loved ones from litigation issues relating to default payment of instalments.

• Contribution Payable Once Only

• No more burden to pay contributions! Contribution is paid once to enjoy coverage for the whole financing period.

Tabarru' (donation) - The contract applied among the Participants. It is the amount deducted from the Participant’s Account Fund and allocated into the Participants’ Risk Fund as a donation for the purpose of mutual help and assistance to fellow participants in need. The Tabarru’ rate is not guaranteed, and You may need to top up the Contribution if the Tabarru’ rate is revised.

Wakalah (agency) - The contract between the Participant and AIA PUBLIC Takaful Bhd. (as Takaful operator), where the Participant authorises AIA PUBLIC Takaful Bhd. to act on his or her behalf to conduct the affairs of Takaful operations which includes underwriting, investment, certificate servicing and claims processing. AIA PUBLIC Takaful Bhd. will take a portion of the Participant’s contribution as Wakalah Fee in return of these services. In performing the duties under the Wakalah contract, AIA PUBLIC Takaful Bhd. may further delegate or engage any third party to perform relevant task in takaful operations.

Mudarabah (profit sharing) - The contract between Participant and AIA PUBLIC Takaful Bhd., where Participant provides capital in the Participant’s Account Fund to be managed or invested by AIA PUBLIC Takaful Bhd. where any Investment Profit arising from the Participant’s Account Fund is shared between the AIA PUBLIC Takaful Bhd. and Participant in the proportion of 20% and 80% respectively whilst any loss will be borne by the Participant up to the capital value. AIA PUBLIC Takaful Bhd. may further delegate or engage a third party to perform certain tasks that are relevant for the investment activities.

Ju'alah (performance incentive) - Means a reward contract between the Participant and AIA PUBLIC Takaful Bhd. whereby AIA PUBLIC Takaful Bhd. will be entitled to fifty percent (50%) of the Surplus arising from the Participants’ Risk Fund as Ujrah (performance fee) for managing the fund efficiently which result in the Surplus.

Qard (interest-free loan) - An interest-free loan provided by AIA PUBLIC Takaful Bhd. to the Participant Risk Fund (PRF) in the event it becomes deficit to enable it to pay Takaful benefit(s) to eligible Participants. This amount will be recovered from the PRF once the PRF becomes sufficient, before any distribution of surplus is made.

Conditional Hibah (gift) - The Participant will be entitled to fifty percent (50%) from the Participants’ Risk Fund as conditional Hibah, based on their Tabarru’ contribution, on the basis of Ju’alah. If the Person Covered passes away, the death benefit will be given to the nominated beneficiary as a conditional Hibah.

Participants’ Risk Fund (PRF) - PRF is the fund where Tabarru' (donation) is credited into for the purpose of providing mutual protection and meeting claims on the events/risks covered under the Takaful certificate. The actual amount of expenses incurred for direct claims related expenses (e.g. investigation cost) and investment cost directly attributable to PRF (e.g. transaction costs directly attributable to the acquisition of an investment asset of the takaful fund) will be charged to the PRF, as approved by our Shariah Committee. Please note that the expenses are charged at fund level and not to individual certificate.

Participant’s Account Fund (PAF) - The individual PAF is the fund whereby a portion of the contributions paid by the participants after the deduction of Wakalah fee are allocated. The Tabarru' of the basic plan will be deducted from this fund. The actual amount of expenses incurred for investment cost directly attributable to PAF (e.g. transaction costs directly attributable to the acquisition of an investment asset of the takaful fund) will be charged to the PAF, as approved by our Shariah Committee. Please note that the expenses are charged at fund level and not to individual certificate.

Examples of the events not covered by the HPRTT2 include:

1. For Death:

Suicide while sane or insane within six (6) months from the effective date of takaful coverage.

2. 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.

3. For Accidental Death:

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.

4. And other standard exclusions.

The description, benefits, exclusions, terms and conditions described above have been summarized and are not exhaustive. Details of more complete terms, conditions and exclusions are available in the Takaful Certificate.

The description, benefits, exclusions, terms and conditions described above have been summarized and are not exhaustive. For a detailed explanation on its benefits, terms and conditions and exclusions, please refer to 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!