PB Advantage Plus Plan

PB Advantage Plus Plan



PB Advantage Plus Plan

Maximise the returns on your hard earned money.

PB Advantage Plus Plan, is a combination of both SAVINGS and INVESTMENT-LINKED features specially designed for Public Bank customers.

PB Advantage Plus Plan offers both guaranteed cash payments and potential growth in investment. In addition it also provides insurance coverage upon death and total and permanent disability plus a maturity value.

Here is what PB Advantage Plus Plan can give you

  • Short Premium Payment Term
  • Guaranteed and Increasing Cash Payment
  • Maturity Benefit
  • Potential Growth on Funds Invested
  • Flexibility in Savings
  • Insurance Coverage

How Does PB Advantage Plus Plan Work?

Short Premium Payment Term

  • Just 10 years of premium payment allows you to enjoy benefits of up to 25 years.

Guaranteed and Increasing Cash Payment

  • You are guaranteed a cash payment starting from the end of 2nd policy year, and it shall
    increase until the 25th year or maturity.
  • The increasing Guaranteed Cash Payment (GCP) is as follows:
    End of Policy Year % of Sum Assured
    2,4,6,8 5%
    9 to 20 8%
    21 to 25 (maturity date) 12%
    You can either withdraw the GCP or choose to deposit the GCP with AIA to accumulate at an interest rate determined by AIA which may vary from year to year.

Maturity Benefit

  • When your plan reaches maturity, you shall get a guaranteed lump sum of 120% of your basic sum assured, Accumulated GCP (if any) and Fund value, less any indebtedness.

Potential Growth on Funds Invested

  • You can enjoy potential investment gains via the AIA Investment Funds.
  • For every premium amount paid, 30% of the premium (excluding loading, if any) will be allocated into PB Enhancer Premium. This amount will be used to purchase units in the chosen fund(s) at 95% allocation rate.
  • Up to 4 AIA Investment Funds of varying risk profiles are available for you to choose from.

Flexibility in Savings

  • You have the option of topping up your savings when you have extra money1.
  • You can withdraw the money when you need it2.
  • You can also switch your funds according to your risk tolerance level3.

Insurance Coverage

  • This Plan covers death and Total and Permanent Disability (TPD) and an additional coverage for death and TPD due to accident.

Illustration of the coverage and benefits are as below:

Benefit upon death and TPD4 Benefit upon Accidental5 Death /Accidental TPD
  • 100% of basic sum assured + Outstanding GCP
    OR
  • 200% of basic sum assured
whichever is higher; and
  • 100% of basic sum assured + Outstanding GCP
    OR
  • 200% of basic sum assured
whichever is higher; and
Accumulated GCP (if any); and Accumulated GCP (if any); and
Fund Value6 (if any) Fund Value (if any); and
  Additional 100% of the basic sum assured

Optional Riders

Be worry free with PB CI Waiver Rider, PB Payor Rider and PB Payor CI Rider as they ensure the continuity of your coverage or your children’s policies when unfortunate events happen to you.

  1. PB CI Waiver Rider shall waive all future premiums of the basic plan if insured is diagnosed with any of the critical illness7 covered. This rider is available for those aged between 14 days to 60 years old. The expiry of this rider shall follow basic premium paying term.
     
  2. PB Payor Rider shall waive all future premiums of the basic plan until the child reaches age 25 or the expiry of premium payment term of the basic plan whichever is earlier if the payor suffers from disability or experiences loss of life.

    PB Payor CI Rider shall waive all future premiums of the basic plan until the child reaches age 25 or the expiry of premium payment term of the basic plan whichever is earlier if the payor is diagnosed with any one of the covered critical illnesses7. PB Payor CI Rider must be purchased together with PB Payor Rider.

    The two riders above are available to payor between 16 years old to 60 years old. The expiry age is age 25 of the insured or the expiry of the premium payment term of the basic plan, whichever is earlier. For payor, disability coverage is up to age 65.
     
  3. Total and Permanent Disability Benefit (Purchasable)
    This rider is targeted to individuals who are subject to medical and occupation loadings. An additional premium is required if customer opt to purchase this rider. It provides insurance coverage upon the insured suffers Total and Permanent Disability prior to age 65. This rider is available for those aged between 16 years old to 60 years old.
Note:
  • 1. Referring to ad-hoc top-up facility to the PB Enhancer Premium fund value – the minimum amount is RM500.
  • 2. Referring to partial withdrawal facility from the PB Enhancer Premium fund value– the minimum withdrawal amount is RM1,000 and subject to the minimum balance of RM1,000 worth of fund value.
  • 3. Referring to fund switching facility.
  • 4. TPD coverage is up to 65 years old.
  • 5. Accidental death coverage is up to 70 years old.
  • 6. Fund Value is equal to the number of units purchased through PB Enhancer Premium multiplied by the unit price.
  • 7. Please note that Angioplasty and Other Invasive Treatments for Coronary Artery Disease is not covered in this rider.

Who is eligible to buy PB Advantage Plus Plan?

This plan is available to individuals aged between 14 days to 65 years old (nearest birthday). However, the minimum age of the policy owner is 16 years old (nearest birthday).

Coverage Term and Premium Payment Term

Coverage Term 25 years
Premium Payment Term 10 years

What doesn’t PB Advantage Plus Plan cover?

The major exclusions are stated as below:

  1. Death due to suicide within 1 year from the Issue Date or Commencement Date, whichever is later. AIA Bhd.’s liability shall be limited to the refund of the premiums paid for basic plan and rider(s), if any, without interest and the Fund Value together with the total premium charge deducted from the Issue Date or Commencement Date, whichever later. Thereafter, the policy shall terminate.
  2. Any Total and Permanent Disability (TPD) resulting from:
    • Willful exposure to danger or attempted self-destruction or self-inflicted injuries while sane or insane; or
    • Service in the armed forces in time of declared or undeclared war or while under orders for warlike operations or restoration of public order; or
    • entering, exiting, operating, servicing, or being transported by any aerial device or conveyance except when the Insured is a fare-paying passenger or crew member on a commercial passenger airline on a regular scheduled passenger trip over its established passenger route; or
    • Any congenital defect which has manifested or was diagnosed before age 17; or
    • Pre-existing disability resulting from a physical or mental condition.
  3. Any Accidental Death / Accidental Total and Permanent Disability resulting from:
    • Assault or murder; or
    • Riot and civil commotion, industrial action or terrorist activity; or
    • Willful exposure to danger or attempted self-destruction or self-inflicted injuries while sane or insane; or
    • War, declared or undeclared, or revolution; or
    • Service in the armed forces in time of declared or undeclared war or while under orders for warlike operations or restoration of public order.
  4. Any critical illnesses resulting from:
    • Pre-existing Conditions prior to the Issue Date or Commencement Date, whichever is later;
      or
    • Cancer, Heart Attack, Coronary Artery By-Pass Surgery and Serious Coronary Artery Disease, for which the signs or symptoms first occurred within 60 days following the Issue Date or Commencement Date, whichever is later; or
    • All other critical illnesses for which the signs or symptoms first occurred within 30 days following the Issue Date or Commencement Date, whichever is later; or
    • Critical illness was diagnosed directly or indirectly due to a congenital defect or disease which has manifested or was diagnosed before age 17; or
    • The diagnosis of Fulminant Viral Hepatitis, Cancer, Encephalitis, Bacterial Meningitis, Alzheimer’s disease/ Severe Dementia or Terminal Illness was directly or indirectly due to an Acquired Immune Deficiency Syndrome (AIDS) or infection by any Human Immunodeficiency Virus (HIV).

    Note: Exclusions (d) is only applicable to PB Payor CI Rider and PB CI Waiver Rider

The description, benefits, exclusions, terms and conditions described above have been summarized and are not exhaustive. For a detailed explanation on its benefits, terms and conditions and exclusions, please refer to the policy contract.


To find out more, call us now at toll free number 1-800-22-9999 or visit any of our branches for more information!
 



This plan is underwritten by AIA Bhd. licensed under the Financial Services Act 2013 and regulated by Bank Negara Malaysia.

Contact Details: AIA Bhd. (790895-D) Menara AIA, 99 Jalan Ampang, 50450 Kuala Lumpur, P.O. Box 10846, 50927 Kuala Lumpur


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