Regular contribution apportionment - to determine/change percentage of each type of fund that you prefer

Sum covered multiple rules is used to calculate the portion of the contribution which will flow to balancer. Any excess after sum covered multiple rules will be treated as balancer. The allocation rate for balancer is 95%.

For example:
Person Covered: 30 ANB, Male, Non-smoker, contribution RM15,000, Sum Covered RM500,000.

Based on the sum covered multiple rule table, the factor is 50.

The basic contribution is calculated as Sum Covered / Sum Covered Multiple rule factor.
= RM500,000 / 50
= RM10,000

Since the contribution proposed is RM15,000, the excess RM5,000 will flow to the balancer.

The increased amount of contribution will be treated as new contribution and allocation does it follow the first-year allocation.

The effective date will be the next contribution due date.

An alteration fee is not required for the change of contribution.

The minimum increment is RM240 per year, which is RM20 per month, RM60 per quarter, and RM120 per half-yearly.

The minimum contribution per certificate must be RM1,200 per year, which is RM100 per month, RM300 per quarterly, and RM600 per half-yearly.

For certificate without waiver rider, the certificate owner can just submit duly signed and completed Application for Inclusion/Alteration of Coverage (PSF02) form to increase regular contribution amount at any time.

For increasing the contribution with waiver rider attached, please submit the below requirements:

• Completed PSF02 (Application for Inclusion/ Alteration of Coverage) form
  
  
• ILP Calculator (with the assistance of servicing agent - optional)
  
  Note: Once the increase of regular contribution is completed, the coverage for waiver rider will be increased accordingly. In the event of claims, the waiver rider will cover the increase of contribution.
  
  For example:
  Existing contribution amount = RM1,200
  New contribution amount = RM2,400
  In the event of claims, the company will waive the contribution of RM2,400.

Certificate owner will need to submit duly signed and completed Request for Contractual Changes (PSF01) form to reduce regular contribution amount. The company will issue a Letter of Consent (LOC) within 5 working days if the certificate is NOT sustainable up to the full contractual term/maturity date with the revised contribution amount. The company will only proceed with the changes upon receiving the duly signed and completed LOC from the certificate holder.

Any increase in regular contribution, the waiver contribution riders will also have to be increased concurrently.

We only accept form/letter submission via i-Get In Touch ("iGIT"). Certificate owner is advised to upload the letter in iGIT. Nevertheless, if certificate owner is unable to upload the letter in iGIT, certificate owner may get the servicing agent to upload the letter via i-Great Partner with valid reason indicated on the letter.

The processing time is 5 working days from the date received of completed documents.