PB Life Plus

PB Life Plus

(This is an insurance product)

Protects you against unexpected events up to 600% of sum assured while securing your premium.

What is PB Life Plus?

PB Life Plus is a non-participating term life insurance plan with premium payment term of 20 years, offering insurance protection against death or Total and Permanent Disability (TPD) for 40 years. Furthermore, it also provides Milestone Payout that pays 10% of your total premiums paid at the end of 20 years and 100% of your total premiums paid at the end of 40 years.

This product is created exclusively for Public Bank account holders where payment can be made via credit card/debit card/Public Bank Savings account.

How can you and your family benefit from this plan?

  • Limited payment term of 20 years
    You only need to pay your premium for 20 years and be protected for 40 years.
  • Death Benefit is payable if the insured passes away while the policy is in force.
  • Total and Permanent Disability Benefit1 is payable if the insured suffers from total and permanent disability while the policy is in force.
  • Accidental Death Benefit1 is payable if the insured passes away due to an accidental injury within 90 days from the date of the accident.
  • Accidental Death in Public Conveyance Benefit1 is payable if the insured passes away while travelling in public conveyance or as a result of burning in public buildings.
  • Celebrate completion of premium payment
    1. At the end of policy year 20, you will receive the Milestone Payout that pays 10% of your total premiums paid.
    2. For policy year 21 to 40, your coverage will be doubled. You will receive up to 6 times coverage for Accidental Death Benefit.
    3. Upon maturity, you will receive the Milestone Payout that pays 100% of the total premiums paid.
  • Rest assured that your premiums are secured
  • Guaranteed Premium where premium is levelled and guaranteed throughout the premium payment term.
  • Easy and Simple Enrolment Process where no medical examination is required.
  • Convenient Premium Payment via auto debit from your credit card/debit card/Public Bank Savings account.

Notes:

1 Coverage for Total and Permanent Disability Benefit, Accidental Death Benefit and Accidental Death in Public Conveyance Benefit is up to age 70 years old.

 

Features At A Glance

Plan Types

There are 3 affordable plans with different benefit amounts.
Please refer to the Table of Benefits below.

Entry Age

Minimum Age
18 years old

Maximum Age
45 years old

Coverage Term

40 years

Table of Benefits

Benefits

Plan 1

Plan 2

Plan 3

Sum Assured

RM50,000

RM75,000

RM100,000

Death Benefit

Policy Year

Benefit Payable

1 – 20

100% of the Sum Assured, or
Total Premiums Paid,
whichever is higher

21 – 40

200% of the Sum Assured

Total and Permanent Disability (TPD) Benefit
(covers up to age 70)

Policy Year

Benefit Payable

1 – 20

100% of the Sum Assured, or
Total Premiums Paid,
whichever is higher

21 – 40

200% of the Sum Assured

 

Accidental Death Benefit*
(covers up to age 70)

Policy Year

Benefit Payable

1 – 20

200% of the Sum Assured

21 – 40

400% of the Sum Assured

 

Accidental Death in Public Conveyance Benefit*
(covers up to age 70)

Policy Year

Benefit Payable

1 – 20

300% of the Sum Assured

21 – 40

600% of the Sum Assured

 

Milestone Payout

End of Policy Year

Benefit Payable

20

10% of the Total Premiums Paid

40

100% of the Total Premiums Paid

 

Notes:

*If the Insured dies due to an accidental injury after the policy anniversary immediately following the Insured’s 70th birthday anniversary while this policy is still in force and before the expiry date of the policy, the Death Benefit will be paid.

 

What are the major exclusions for PB Life Plus?

The major exclusions are stated as below:

  1. If the insured, whether sane or insane, commits suicide within one (1) year from the issue date or commencement date, whichever is later, AIA’s liability shall be limited to the refund of premiums paid without interest. In the case of reinstatement, such refund of premium shall be calculated from the commencement date.

  2. Exclusion for Accidental Death Benefit and Accidental Death in Public Conveyance Benefit - any Accidental Injury caused directly or indirectly, wholly or partly, by any one (1) of the following occurrences shall not be considered as an Accidental Injury:
    i)
    Willful exposure to danger or self-inflicted act while sane or insane;
    ii)
    Assault or murder or due to war (declared or undeclared), revolution, riot and civil commotion, industrial action or terrorist activity;
    iii)
    Violation or attempted violation of the law or resistance to arrest including participating in any fight, racing on wheels or accident due to intoxication of alcohol or drugs; or
    iv)
    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.
  3. Exclusion for Total and Permanent Disability Benefit - any Disability caused directly or indirectly, wholly or partly, by any one (1) of the following occurrences shall not be considered as Disability:
    i)
    Willful exposure to danger or self-inflicted act while sane or insane;
    ii)
    Assault or murder or due to war (declared or undeclared), revolution, riot and civil commotion, industrial action or terrorist activity;
    iii)
    Violation or attempted violation of the law or resistance to arrest including participating in any fight, racing on wheels or accident due to intoxication of alcohol or drugs;
    iv)
    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
    v)
    Pre-existing disability resulting from a physical or mental condition and pre-existing conditions prior to issue date or commencement date, whichever is later.

The description, benefits, exclusions, terms and conditions described above have been summarized and are not exhaustive. Details of more complete terms, conditions and exclusions are available in the policy contract.

 

What If I Change My Mind About This Coverage?

You can call AIA Customer Service Hotline at 1-800-18-1464 to cancel your policy over the phone before the policy contract is issued. Alternatively, you may cancel your coverage at any time by submitting a written notice to AIA Bhd.

**This product is specially brought to Public Bank’s customers via its insurance program with AIA Bhd. and is sold through Telemarketing only.

Sign up today and get protected. To find out more, please contact Public Bank’s toll-free line at 1-800-22-9999.

 

 Product Disclosure Sheet:

 English version, please click here

 Bahasa Malaysia version, please click here



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

Contact Details:
AIA Bhd. (200701032867 (790895-D)) Menara AIA, 99 Jalan Ampang, 50450 Kuala Lumpur, P.O Box 10846, 50927 Kuala Lumpur.


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