HSBC Amanah Malaysia Berhad yesterday launched Takaful FutureSecure, the FIRST plan of its kind in the takaful market. Specially designed for high net worth individuals, this plan ensures that the wealth accumulated by our customers is protected and can be transferred to their loved ones for them to secure a brighter future.
Customers can expect stable returns with this plan to help steadily grow their assets and secure their financial legacy planning and allocation.
This Shariah-compliant legacy plan ensures that upon one’s passing, the higher guaranteed Sum Covered or Account Value is payable to the nominee(s). This single contribution plan offers a high Sum Covered coverage of up to 350% of the contribution amount.
In addition, Takaful FutureSecure also provides the flexibility for customers to access their account value should financial emergencies arise and as long as the plan remains effective, customers can also reap the plan’s maturity benefit at the age of 99.
“Takaful FutureSecure is a universal solution for both Muslims and Non-Muslims for their legacy preferences. Muslims however, have the option to transfer their wealth through the normal inheritance law or as a gift upon their passing by conditional hibah. The introduction of a conditional hibah to this plan is in tandem with the growing awareness of the Muslim society in terms of estate planning. The funds are also invested in transparent and ethical manner that is socially desirable. This plan is an example of Value-Based Intermediation in action, addressing a social need and creating a positive societal impact,” said Oz Ahmed, Chief Executive Officer, HSBC Amanah Malaysia Berhad.
“Customers who are seeking greater protection and who want to preserve their wealth against unforeseeable risk will appreciate this unique Islamic proposition. The plan provides full control to our clients throughout their lifetime, to nominate or change any individual as a recipient of their legacy. Transfer of funds of the deceased under this plan does not require an executor or a court’s claims process which helps accelerate legacy administration and saves cost,” he added.
Any person aged 18 years old up to 75 years old is eligible and can participate in the Takaful FutureSecure plan. The coverage term is up to age 99 years old and the contribution mode is a one-time payment method applicable through direct debit via HSBC Amanah current or savings account.