Wednesday, December 8, 2010

Child Education Takaful/Insurance Plan

Child Education Takaful / Insurance Plan (CET/IP) provides you with protection and long-term savings to finance the higher education expenses of your child. The plan will provide your child with financial benefits if you suffer any set back covered under the plan. The plan also gives your child long-term savings (or education fund),that your child can use to continue his/her studies.

Participating in a CET/IP also makes you eligible for personal tax relief of up to a maximum of RM3,000 per year for the combination of both medical and education plans. A family takaful/insurance rider or an extension of basic coverage for both you and your child is also available. The rider provides coverage against personal accident and disability, hospitalisation benefits, funeral expenses and critical illnesses

Ordinary Child Education Takaful/Insurance
You and your child will receive financial benefits arising from death or permanent disability, as well as long-term savings (education fund), and investment profits that are distributed upon claim, maturity or early surrender.

Investment-linked child education takaful/insurance
A portion of your contribution is used to buy investment units, such as units in equity or fixed income securities. In addition to the ordinary takaful protection, which covers death and permanent disability, the investment units will be sold upon claim, maturity or early surrender

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