Group Term Life Insurance in Malaysia
Group Term Life (GTL) insurance coverage in Malaysia, includes Death, Total & Permanent Disability (TPD) and Partial Permanent Disability (PPD). That is due to all or natural causes and Terminal Illness. AIA also have Group Term Life Insurance Plans for you to know more about AIA Group Term Life Insurance Plans and the benefits.
This group term life insurance is paid every year. On a yearly renewable term.
Contact GTL Insurance Agent
Contact our best insurance agent for a Malaysian GTL plan for your company.
Click the button below to contact AIA Insurance Agent Levine Lee, to answer your questions on this insurance plan.
Or send in an enquiry. We will contact you to create the best insurance quotations to fit your employee benefits plan needs.
Group Term Life Insurance Coverage Details
This group term life insurance has a direct benefit for your employees. This group insurance provides your employees with financial security in the event of an untimely death.
This valuable benefit is especially important for employees that value their family’s financial security.
Group Term Life Total and Permanent Disability (GTL TPD) Coverage
Total and Permanent Disability cover if an employee becomes disabled as a result of an injury or sickness, the compensation from this benefit can help reduce the financial burden suffered.
Partial and Permanent Disabilities compensate according to the Scale of Indemnity as stated under the Policy’s Schedule of Benefits will be paid if an employee suffers a permanent partial disability as a result of sickness or accident.
Group Term Life Critical Illness (GTL CI) Coverage
Critical Illness can lead to financial catastrophe. If an employee is diagnosed with a critical illness during employment, the employee will receive compensation to ease the financial burdens in such unfortunate moments. In addition, the coverage can lessen the burden on your employees and their families.
Group Term Life Terminal Illness (GTL TI) Coverage
Terminal Illness benefit cover if the Insured Member passes away within twelve (12) months of suffering from a Terminal Illness.
Group Term Life Repatriation Expenses Coverage
Repatriation Expenses cover the expenses for transportation of mortal remains back to the Country of Origin if the insured Member passes away while travelling outside of Malaysia.
Group Term Life Insurance Coverage Frequently Asked Questions (FAQs)
What coverage is available in Group Term Life Insurance?
Basic Group Term Life
Basic Total & Permanent Disability (TPD)
Basic Partial Permanent Disability (PPD) due to all or natural causes
Basic Terminal Illness
Basic Repatriation Expenses
Optional Rider – Additional Critical Illness
What Is Group Term Life Insurance?
An employer or organisation offers group term life insurance to workers or employees.
Employers help lessen the burden of your employee loved ones by providing financial safety against death, total and permanent disability, partial and permanent disability or terminal illness.
What is Total and Permanent Disability or Partial and Permanent Disability?
If an employee becomes total or partial disabled as a result of an injury or sickness, the compensation from this benefit can help reduce the financial burden suffered.
What is Terminal illness?
A terminal condition or illness is life-limiting. The illness is expected to result in permanent unconsciousness from which the person is unlikely to recover or die.
This benefit will be paid if the Insured Member passes away within twelve (12) months of suffering from a Terminal Illness.
What is Critical Illness?
Being diagnosed with critical illnesses can lead to financial catastrophe if one is unprepared. The coverage against critical illnesses will further lessen the burden of your employees and their families in such unfortunate moments.
What is Repatriation Benefit?
Repatriation expenses are the costs of transporting a claimant or their body back to their own country after being injured or killed in a foreign country.
The Insured Member dies within thirty (30) days from the date of the Injury or commencement of Sickness, an authorized representative of the insurance company shall make the necessary arrangements for the return of the Insured Member’s mortal.
Who is eligible for group term life coverage in Malaysia?
Employee – All full-time and actively at work employees, directors, partners and proprietors in occupational classes 1 to 4 are eligible for Group Term Life.
What is the Eligible Age for group term life insurance in Malaysia?
Employee – Entry age 16 – 64, renewable age up to 69 years old.
Can I buy optional group insurance riders without the GTL policy?
Unfortunately, insurance companies in Malaysia will not accept applications to purchase optional riders without the group term life plan. The optional rider is only available if purchased with basic GTL coverage.
Can I change/upgrade my benefits?
Yes, change/ upgrade of benefits can be done upon the policy anniversary/ renewal, subject to insurance company review and acceptance. Different insurance companies have different terms. Ask our experienced group insurance agents in Malaysia for the different details and quotations.
Contact Insurance Agents for Group Insurance
Levine Lee has over 12 years of working experience with AIA and ING Insurance as an insurance agent and life planner. Contact LEVINE LEE, at +6012 684 0948. She can work with you to create the best plan to meet your employee benefits program and budget plans.
Or send in the form below for Levine to call you to scope your needs for a quotation.