Deposit Product
Loan Product
Card
Hire Purchase
Affin Bancassurance
Unit Trust
Remittance
















 



AFFIN BANCASURRANCE

Smart20 Financial Plan is an insurance plan combining Protection, Savings and Investment in one plan. It is a Regular Premium Investment-Linked Plan. It provides coverage on Death and Total and Permanent Disablement (TPD). In addition, Smart20 has a full range of optional supplementary benefits (i.e. riders). When attached to Smart20, riders can be used to meet your changing life stage needs. Smart20 covers 4 core aspects in life which are Career, Family, Health and Retirement.
  1. Smart20 Graduate Plan is designed for every parent who wants the best for his children. A good education is always a priority.
  2. Bright Future Savings Plan is a savings, investment and protection plan designed for you to save early to achieve your goals.
  3. Financial Freedom Protection Plan is introduced to protect your family and you anywhere, anytime. As life continues, the matter of health becomes more and more apparent. Financial Freedom Protection Plan comes in different packages that suit your family protection needs as well as your monthly outlay.
  4. Golden Nest Savings Plan enables you to save early to supplement your retirement.


Benefits & Features

Death and TPD

Smart20 provides TPD protection up to age 60 and Death protection until the age of 80. The Death benefit is the sum assured plus the account value. Upon TPD, the Death benefit will be accelerated up to a maximum of RM1.25 million.

Regular Premium and Top Up Premium

The premium payment term for Smart20 is limited to 20 years. This limited premium payment feature is the first in the industry. With limited premium payment feature, consumers are able to better plan their outgo not to stretch over certain age.

Regular premium is invested in accordance to the following allocation rates:

Policy Year Allocation Rates (% of regular premium)
1
40
2
40
3
90
4
95
5
95
6 and thereafter
100

Better still, Smart20 offers you the choice of monthly, quarterly, semi-annual and annual premium payment modes to suit your budget. In addition, Smart20 gives you the option to top up your investment on regular basis or on lump sum basis to achieve your investment objective faster.

Fund Switching

You may need to update your investment objective or your risk profile from time to time due to your changing needs or any change in market condition. Smart20 offers the flexibility to redistribute your investment between funds or to change your selection of funds to handle that sort of situations.

Fund Withdrawal

In the event a sudden need of quick money arises, you can withdraw your money partially from your account, provided your remaining account value meets the minimum requirement.

Loyalty Bonus

AXA AFFIN Life values their long term relationship with their customers and it rewards them with Loyalty Bonus. On the 15th policy anniversary and every 5th policy anniversary thereafter, we will pay a Loyalty Bonus to increase your investment. The amount of the bonus is based on 2% of the average monthly account value in the 5 years prior to the date of bonus payment, and it will be used to buy additional units according to your fund allocation instruction.

Choice of Funds

AXA AFFIN Life offers a suite of funds that meet your risk profile. The funds are Active Bond Fund, Active Balance Fund, Dana Imbang and Asia Pacific Growth Fund. Active Bond Fund is a fixed income fund and it is suitable for risk averse profile. Asia Pacific Growth Fund is an equity fund and this fund is designed to meet risk aggressive risk profile. For moderate risk profile, Active Balance and Dana Imbang are the suitable choice. In addition, Dana Imbang is a Syariah Compliance fund.

Supplementary Benefits

AXA AFFIN Life has a wide range of supplementary benefits (i.e. riders) for its customers. The optional riders attachable to Smart20 are as follows:

  1. Level Term (LT)
    LT provides protection on Death and TPD. The coverage is up to age 80. LT is used to boost the protection level of your basic plan. It is suitable when there is a change of life stage such as getting married and addition of a child. The payment from LT is in addition to the basic plan.
     
  2. Critical Illness (CI)
    CI covers 36 different illnesses. In the event of diagnosis of any of the covered illness, CI will pay additional lump sum to the life assured. With the advance of medical technology, detection of CI has become easy and the cost of diagnosis and treatment has escalated as well. Therefore, having a CI rider will definitely help to reduce the exorbitant cost.
     
  3. Accelerated Critical Illness Rider
    A non-participating regular premium accelerated critical illness plan that covers up to the term of the basic plan it is attached to with maximum expiry age of 80 or 100.If the insured has been diagnosed a Critical Illness, 100% of the rider sum insured will be payable. Upon payment of the benefit, the sum assured of the basic plan will be reduced by rider sum insured amount.The basic premium, cash value (for Smart20, if any) and insurance charge (if any), will be reduced accordingly.
     
  4. Income Shield Rider
    This rider pays annual income upon diagnosis of a critical illness or TPD prior to age 60. Various coverage periods is required to match to the premium payment period of the basic plans. The required durations are:
    - Up to age 80
    - Up to age 60
    - 20 years

    Total and Permanent Disability (TPD) benefit:
    If the Insured suffers from TPD before age 60, 100% of the rider sum insured (= annual income) will be payable annually up to expiry of the rider or death of the insured, whichever is earlier.Annual income payment is excluded from the total TPD benefits of RM1.25million.

    Critical Illness benefit:
    If the Insured has been diagnosed a Critical Illness, 100% of the rider sum insured (= annual income) will be payable annually up to expiry of the rider or death of the insured, whichever is earlier.
     
  5. Accident Protector (AP)
    This rider takes care of your expenses when Death or Dismemberment is resulting from accidents. AP will pay an additional lump sum on top of your basic plan in accordance to a schedule of benefits in the event of accidents.
     
  6. Accident Protector Plus (APP)
    Rider that provides weekly indemnity upon temporary partial/total disablement rider that provides weekly indemnity upon temporary partial/total disablement, TPD or hospitalisation.

    100% of rider sum insured if death is resulting solely from accidental bodily injury as well as accidental dismemberment benefits for your love one.

    Amount of benefit payable for the above coverage will be doubled if the injury is sustained:
    - while the insured is traveling as a fare paying passenger on a public conveyance over an established land route;
    - while the insured is in an elevator (excluding elevators in mines and construction sites); or
    - in consequence of the burning of any theatre, hotel, stadium, restaurant or other similar public meeting place in which the insured shall be at the commencement of the fire.
     
  7. Rider: Medical Care Plus
    A comprehensive hospitalisation and surgical rider. 4 plans offering different levels of Room & Board (R&B) benefits are available i.e. Bronze (R&B 80), Silver (R&B 150), Gold (R&B 300) and Platinum (R&B 500).

    Product Benefits

    i. No lifetime limit on the total amount that you claim
    Our Medical Care Plus plan has no lifetime limit on the amount that you can claim in a lifetime regardless of the claim amount you made previously#. It is like starting on a fresh page each year, thus reassuring you of continuous and uninterrupted access to the medical care you need.

    ii. Comprehensive medical care up to age 81##
    Medical Care plan covers you up to age 81##, well into your retirement years, ensuring that you have access to medical care when you need it most. You can choose from 4 different plans to suit your needs and affordability. It ranges from the affordable Bronze plan to the Platinum plan with high protection of RM500,000 every year.

    iii. No co-insurance
    You will not be burdened with partial payment of the medical bill as long as you stay in the Room & Board within your eligible benefit. Thus, making sure that you are not hit with out-of-pocket medical care expenses. However, if the Room Category stayed is higher and better than the eligible benefit, you will have to bear 20% of the cost of the eligible benefits being the Upgraded Room & Board Co-Payment.

    iv. Cashless admission to a nationwide panel of hospitals
    What's more, our Medical Care Plus plan provides cashless admission facility to a wide selection of private hospitals, ensuring that you have quick access to medical care.

    # Except for Special Benefits
    ## or up to basic plan maturity date, whichever is earlier.
     
  8. Rider: Hospital Income Benefit
    This rider provides daily income benefit upon admission to hospital.
Waiver of Premium on CI and TPD (WP)

WP waives the basic plan premium in the event life assured is diagnosed of any of the covered CI or suffers TPD. WP provides coverage on 36 critical illnesses. When attached to the basic plan, WP will waive the basic plan premium by crediting the same amount of basic plan premium to the account.
 

Payor Benefit on Death/TPD/CI (PB)

PB waives the basic plan premium in the event the payor suffers TPD, diagnosed of any of the 36 covered diseases or on the occurrence of death. The basic plan premium will be credited to the account.

Summary of Benefits for Smart20

Coverage Death and TPD
Entry Age
- Minimum
- Maximum

15 days
60
Expiry Age
80
Regular Premium
- Minimum
- Maximum

RM1,200 per year
RM5,000 per year
Lump Sum Top Up Premium
- Minimum
- Maximum

RM1,000
Subject to underwriting
Regular Top Up Premium
- Minimum
- Maximum

RM150 per year
Subject to underwriting
Premium Allocation
- 1st policy year
- 2nd policy year
- 3rd policy year
- 4th policy year
- 5th policy year
- 6th policy year

- Top up (Regular & Lump Sum)
% of Premium
40
40
90
95
95
100

95
Death Benefit
Sum assured plus account value
TPD Benefit
Acceleration of death benefit capped at RM1.25 million
Switching Facility
Yes. One free switch within a policy year.
Withdrawal Facility
Yes
Fund



 
Active Bond Fund
Active Balance Fund
Dana Imbang
Asia Pacific Growth Fund

Smart 20 Financial Plan Riders:-

No Product
1
Waiver Premium
2
Payor Benefit
3
Medical Care Plus
4
Hospital Income Benefits
5
Critical Illnesses
6
Accelerated Critical Illnesses
7
Income Shield
8
Accident Protector
9
Accident Protector Plus
10
Level Term

Please click the following for more information on:

  •  Product Disclosure Sheet
  •  Product Disclosure Sheet (LTR-AP-APP)
  •  Product Disclosure Sheet (PB-CI-IS)

 

Underwritten by AXA AFFIN Life Insurance Berhad.
For more information, please call us at 03-2055 9733 or 03-2055 9971.
 

 

     
Like us on    
      
Copyright 2014 Affin Bank Berhad (25046-T).