Insurance

Takaful Mortgage Protector

Life Is Unpredictable – That's A Fact

While, we can’t prevent unwanted surprises, we can at least plan to protect ourselves against them.

For instance, let’s say, you are paying monthly instalments for your house and suddenly something happens to you….where does that leave your family? You could leave them with an unexpected financial burden they may find impossible to bear. They could even end up losing their home. To prevent this from happening, we have put together Takaful Mortgage Protector.

What is Takaful Mortage Protector?

Takaful Mortgage Protector is a single contribution Takaful Plan offered exclusively to our home loan customers. It is a specially tailored Takaful plan providing you with comprehensive protection in the event of death or total permanent disability. Upon death or total and permanent disability, your close ones need not be unduly burdened because with Takaful Mortgage Protector, it helps to reduce if not liquidate the balance of your mortgage.

Enjoy the convenience of one-stop financing

Imagine the convenience of having both your housing loan and Takaful Mortgage Protector application forms be completed at one place. The process will be easier and faster, and we will be there to assist you every step of the way! This way, you deal with just one bank, making convenient payments for both.

Will there be any exclusions?

Yes. Exclusions as specified in the Takaful certificate will be applicable to this Takaful plan.

What is "Takaful"?

Takaful is a mutual assistance scheme based on the spirit of cooperation and mutual principles, where all participants agree to assist each other financially in case of predefined events taking place. With this intention in mind, participants pay their contribution on the basis of tabarru (donation for specific purpose) to the Takaful Risk Fund managed by HSBC Amanah Takaful (Malaysia) Sdn. Bhd. [Co. No. 731530-M].

What additional benefits do I get from Takaful?

With Takaful, you have assurance that financial assistance is available to you when you need it most. Tabarru contributed by all participants for a common good, will be used to assist those who are in need of assistance, thus helping the community at large. As one of the participants, you shall be entitled to a share of the surplus according to your contribution. Any losses and liabilities shall be divided and spread according to a community pooling system so no one can derive an advantage at the cost of others.

Who manages the Takaful Mortgage Protector?

Takaful Mortgage Protector is managed by HSBC Amanah Takaful (Malaysia) Sdn. Bhd.[Co. No. 731530-M], a member of HSBC Group of Companies.

In providing this service, we will be remunerated by HSBC Amanah Takaful (Malaysia) Sdn. Bhd. in the form of commission of up to 10.00% of the single contribution.

Will there be any exclusions?

Yes. The usual exclusions will apply to this insurance plan and will be specified in the policy.

Notes

Products and services referred to in this online brochure are offered in Malaysia where they may be lawfully offered by HSBC Bank Malaysia Berhad ("the Bank").

This online brochure is for general information only and is not to be construed as a Takaful contract and no particular circumstances or needs of any person was considered. The exact terms, conditions, exclusions and definition of the Takaful Mortgage Protector are specified in the Takaful Certificate.

You may review the suitability of the plan and may cancel your participation within 15 days from the date of receipt of Certificate ("cooling off period"). On cancellation within the cooling off period, HSBC Amanah Takaful (Malaysia) Sdn. Bhd. will refund your total contribution paid (less medical examination fee where applicable).

The information contained in this online brochure is not intended to provide professional advice. Any interested party should obtain appropriate professional advice when necessary.

Whilst every care has been taken in preparing the information and materials contained in this online brochure, such information and materials are provided "as is" without warranty of any kind, either express or implied. In particular, no warranty regarding non-infringement, security, accuracy and fitness for a purpose is given in connection with such information and materials.

To the fullest extent permitted by law, in no event will the Bank be liable for any damages, including without limitation to direct or indirect, special, incidental or consequential damages, losses or expenses arising in connection with this brochure or use thereof.