1. Updated FAQ on medical repricing interim measures is now available.

 

2. We acknowledge the recent press statement issued by Bank Negara Malaysia regarding interim measures to address the contribution revisions for medical plans. As a responsible takaful operator, we take this matter seriously and remain committed to act in the best interests of our customers. These interim measures aim to provide our customers the flexibility to better navigate and manage their financials while preserving their medical coverage.

 

We understand the importance of keeping our customers informed and will provide updates as soon as new information becomes available.

 

In the meantime, we encourage you to click here for more details or contact our dedicated customer service line at 1300-13-8338 and press 6 after language selection, from Monday to Friday, 8.30am - 5.15pm (except Public Holiday) for further assistance.

 

3. Temporary Suspension of New Direct Debit Authorisation (DDA) Applications

Please be informed that the submission of new Direct Debit Authorisation (DDA) applications will be temporarily suspended effective from 16th January 2025 until further notice. Click here for more details.

 

4.   Revised Operating Hours During Fasting Month

We wish to inform you that the operating hours of our Customer Care Centre at Level 3, Head Office and Customer Careline will be revised. Click here for more details.

When should I review my takaful protection plan?

When should I review my takaful protection plan?

Discover when is the best time to review your takaful protection plan & coverage to ensure your plan is up to date with the best protection. Read more here!

28 Oct 2024
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When should I review my takaful protection plan?

When was the last time you reviewed your protection plans? Many of us may overlook our takaful or financial protection plans from years ago. However, with changes in life and finances, it is crucial to ensure that your plan still meets your current needs. In this article, we will explore when and why you should recheck your protection plans to keep them relevant and effective.

1. There are financial changes 

When to review takaful protection plan: there are financial changes

One of the main reasons to review your protection plan is when your financial situation changes. For example, if you have received a salary increase or promotion, your financial capacity has grown, and your current plan may no longer provide sufficient coverage. Similarly, if you have taken on new financial obligations such as a home loan or car loan, you may need additional coverage to ensure that these liabilities are covered in case of unforeseen circumstances.

If your expereince a decrease in income due to a job loss or other reasons, you should also review your plan to ensure that it remains affordable. Adjustments may be needed to match your new financial capabilities, while still providing adequate protection for you and your family.

2. Protection plan changes occur

When to review takaful protection plan: protection plan changes occur

Takaful providers periodically make adjustments or introduce new plans that may offer better benefits or lower contribution. When there are changes to your provider's product offerings, it is worth considering whether switching to a newer plan could provide you with better value for money.

Rechecking and reviewing your protection plan when takaful providers announce updates can also help you stay informed about new features such as increased payout amounts, new riders or coverage options that were not available when you first signed up. These adjustments can better align with your current and future needs. You also need to be mindful on the waiting period or other terms and conditions that applies to the new offering and discuss thoroughly with agents to ensure your coverage is not compromised.

3. How many protection plan do I need?

 How many takaful protection plans do I need?

Sometimes, people accumulate multiple protection plans over time without realising how the benefits may be overlapped. It is important to check how many plans you have and evaluate if they complement each other. You do not want to overpay for redundant coverage or miss gaps in protection that should be addressed.

For instance, if you already have a basic family takaful plan, you might only need to add on specific riders or supplemental coverage for things like critical illness or disability. A comprehensive review of all your existing plans ensures you are fully covered without unnecessary redundant coverages.

Regularly reviewing your takaful protection plans is essential to ensure they align with changes in your life, finances and needs. By taking these proactive steps, you can safeguard yourself and your family. Do not wait for something to happen; make sure your protection plan stays up-to-date and effective in addressing potential challenges.