i-Great Prestij

Protect and fulfil your life aspirations in one plan

Everyone dreams of living a great life with their loved ones. The definition of greatness may vary for each individual. However, generally, it means being healthy, free from debt, having successful children pursuing their education at their chosen universities and being able to enjoy retirement comfortably with your partner without worrying about your expenses or cost of living.

What is a takaful saving and retirement plan

A savings and retirement plan is a financial preparation designed to set aside emergency funds for short-term needs and ensure long-term financial security during retirement years. This plan usually involves various long-term investment options and personal tax relief advantages to maximise savings and build a nest egg that can support you in later years when you no longer have a steady income from work.

The importance of a retirement savings plan

A retirement savings plan is important because it helps ensure financial stability during the post-working years. It allows you to build a nest egg that ensures a steady income when you no longer have a regular job. Money saved from a retirement plan can also be used as an additional living allowance when retired in old age. Without such a plan, there's a risk of financial strain or dependency on others for basic needs during retirement. In short, a retirement plan is to secure your finances and cost of living in old age.

Importance of a plan like i-Great Prestij

How can you achieve this great life? i-Great Prestige is a takaful retirement plan with savings that not only protect you and your loved ones from any uncertainties but also offer the potential for high returns to fulfil your aspirations. Your dream to see your children succeed in achieving their financial goals and for you to have a worry-free retirement is sure to become a reality.

Introducing the new fund, the Global Equity Fund, managed by abrdn Islamic Malaysia Sdn Bhd (formerly known as Aberdeen Standard Islamic Investments (Malaysia) Sdn Bhd). It offers global exposure by investing in internationally diversified Shariah-compliant equity portfolios and Shariah-compliant equity-related securities for better potential returns. This fund has also demonstrated consistent growth performance over the 1, 3, and 5-year horizons.

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Key benefits

Annual Investment Booster up to 20% of contribution

Upon survival of the Person Covered, a percentage up to 20% of the annualised Basic Contribution will be payable from the Tabarru’ Fund 2 into Participant’s Unit Account towards the purchase of units in accordance with the fund direction for Compulsory Saver based on 100% allocation rate.

Maturity Booster up to 500% of annual contribution

Upon maturity of this takaful saving plan, a percentage up to 500% of total annualised Basic Contribution will be payable from Tabarru’ Fund 2 on top of the Maturity Benefit, as long as the Certificate stays in force.

Enhance your coverage with an optional rider

Customise your takaful saving plan, i-Great Prestij, for more comprehensive protection with these optional riders:

i-Saver Rider
95% of contributions payable will be allocated to the Participant’s Unit Account for savings and investment purposes.
i-Provider Critical Illness Term Rider

Provides future contribution in the event of Person Covered diagnosed with one of the critical illnesses except angioplasty.

i-Contributor Protection Plus Term Rider

Provides future contribution in the event of Contributor's death, Total & Permanent Disability or diagnosed with one of the critical illnesses except angioplasty.

Note: The optional rider stated above is a contribution-paying rider.

Additional benefits

Compassionate Benefit

Upon death of Person Covered, the Compassionate Benefit shall be payable from Tabarru' Fund 1.

Maturity Benefit

When your plan reaches maturity, you will receive the following amount:

a) Maturity Value from the Tabarru’ Fund 2 (if any),

b) Cash Value in the Participant’s Individual Account (if any),

c) Total Account Value in the Participant’s Unit Account (if any), and

d) Total Account Value from i-Saver Rider, (if any).

Total & Permanent Disability and Death benefit

In the event of Total & Permanent Disability prior to the Certificate anniversary before 70 years attained age, or death prior to Certificate maturity, a lump sum payment of the benefit will be payable. Please refer to this takaful saving plan product brochure for more information.

Badal Hajj, Waqf and Hibah services

These are optional services and you need to fill in the Hajj by Proxy Service Form, Waqf Services Form and Nomination and Assignment Form for the respective services of your choice.

How i-Great Prestij works

Notes and disclaimers

Please do take note of the below to ensure you fully understand what this product does and does not cover. If in doubt, contact your Great Eastern Takaful Advisor.

Important Notices

i-Great Prestij is a Family Term Takaful Plan with combination of Takaful Protection (Traditional Takaful Component) and Compulsory Saver (Investment-Linked Takaful Component) that provides coverage upon Death or Total Permanent Disability of the Person Covered as well as Compassionate Benefit of RM2,000 upon death of Person Covered. The investment-linked component which is Compulsory Saver is tied to the performance of the underlying assets, and is not a pure investment product such as unit trusts.
Age refers to age next birthday. Contributions are payable following the contribution payment term or upon death or Total & Permanent Disability of the Person Covered, or termination of the certificate, whichever occurs first.
You should be convinced that this plan will best serve your needs and that the contributions payable under the Certificate are affordable to you.
You may stop paying contributions and still enjoy protection as long as there are sufficient amount of money in the Participant’s Individual Account to pay for the Tabarru’, where applicable. However, there is a possibility of certificate lapsing when the required charges, including Tabarru’, exceed the money available in Participant’s Individual Account and Participant’s Unit Account.
A “Free-Look Period” of 15 days from the delivery of the Certificate is given for you to review the suitability of the plan. If the Certificate is returned to us during this period, we shall refund an amount equal to the sum of:
i. total Takaful Contribution (if any), and
ii. total values in Participant’s Unit Account (if any) of this Certificate, and
iii. unallocated Investment Linked Compulsory Saver Contribution.
You may receive the Cash Value in Participant’s Individual Account (if any) and Total Values in the Participant’s Unit Account (if any) upon termination or maturity of this plan, which may be less than the total allocated contribution into the Participant’s Individual Account and Participant’s Unit Account. You also may receive Maturity Value from the Tabarru’ Fund 2 (if any). No benefits will be payable from the Tabarru’ Fund 1 upon termination or maturity.
The Participant’s Individual Account and Participant’s Unit Account will be based on the actual performance of the fund and is not guaranteed. The investment risks under this plan will be borne solely by you and both the Participant’s Individual Account and Participant’s Unit Account may be less than the total contributions contributed to the fund. Depending on the fund's performance, the Certificate value may decrease. There is a possibility of Certificate lapsing when the required charges (including Tabarru’) exceed the total value of the Participant’s Individual Account available. The sustainability of the plan depends on the performance of the underlying fund(s).
Participating in a Family Takaful plan is a long-term financial commitment. If you do not pay your contributions within the grace period of 30 days, your Certificate may lapse. The accumulated cash value that you may get upon cancellation of the Certificate before maturity period will be lesser than the total amount of contribution that you have paid.
If you switch your Certificate from one Takaful Operator to another or if you replace your current Certificate with another Certificate within the same Takaful Operator, you may be required to submit an application where the acceptance of your proposal will be subjected to the terms and conditions of switching or replacement.

Disclaimers

i-Great Prestij | A Takaful Saving Plan