AXA AFFIN Life Insurance Berhad 200601003992 (723739-W)
8th Floor, Chulan Tower, No.3 Jalan Conlay, 50450 Kuala Lumpur. Tel: 03-2117 6688. Fax: 03-2117 3698.
PRODUCT DISCLOSURE SHEET
Read this Product Disclosure Sheet before you decide to
take out AFFIN CREDIT SHIELD. Be sure to also read the
general terms and conditions.
Underwritten by AXA AFFIN Life Insurance Berhad
AFFIN CREDIT SHIELD
1. 1
What is this product about?
This is a non-participating group term life plan that offers insurance protection on the monthly outstanding statement balance of the
Insured’s Credit Card Account with the Master Policy Owner upon death or Total and Permanent Disability.
The total outstanding credit card balance shall include any finance charge, as stated in the monthly Credit Card Account statements as
at the date of the Insured Person’s Death or commencement of TPD.
This product is only available to AFFIN Bank active credit cardholders and who is in between the age of 21 to 60 years old.
2.
What are the covers/benefits provided?
This product covers:
Coverage
Benefits Payable
Death Benefit
Insured’s Credit Card outstanding statement balance, up to a maximum of RM300,000.
Total and Permanent Disability
(TPD) Benefit
Insured’s Credit Card outstanding statement balance, up to a maximum of RM300,000.
‘’
Duration: The insurance covers the Insured up to age sixty five (65) years.
3.
How much premium do I have to pay?
The monthly premium payable is RM0.65 per RM100 of the Insured’s Outstanding Balance.
Each monthly premium payment shall cover the outstanding statement balance until the date of your next credit card account
statement. Your cover will automatically renew by continued payment of the monthly premiums. Renewal of the insurance coverage
for each Insured is not guaranteed.
Note: Premium rates are not guaranteed and Company may revise the premium rates by giving you at least 60 days written notice.
4.
What are the fees and charges that I have to pay?
Expenses such as commission and management expenses have been incorporated in your total premium. The commission fee is 10% of
the premium.
5.
What are some of the key terms and conditions that I should be aware of?
• Importance of disclosure – you must disclose all material facts such as your employment, nature of work, and state your age
correctly.
• Free-look Cancellation – you may cancel your insurance coverage by returning the Insurance Certificate to us within 15 days from
the date of your receipt of your Insurance Certificate. We will refund to you the premium you have paid.
Note: This list is non-exhaustive. Please refer to the Insurance Certificate for the terms and conditions under this policy.
6.
What are the major exclusions under this Policy?
Coverage benefits are not payable if:
(a) Death resulted from suicide, while sane or insane or by hands of justice, within 12 months from the Effective Date of the Insurance
Certificate; or
(b) Death or TPD resulted from pre-existing conditions for which the Insured Person received medical treatment, diagnosis, consultation
or prescribed drugs during the 90 days preceding the effective date of coverage unless the Insured Person with pre-existing
conditions has been insured under the Insurance Certificate for at least 12 months; or
(c) TPD was due to intentional self-inflicted injury or any attempt thereat while sane or insane, suicide, any act due to war, declared or
not; or military or naval service under orders for warlike operations;
Note: This list is non-exhaustive. Please refer to the Insurance Certificate for the full list of exclusions under this policy.
AXA AFFIN Life Insurance Berhad 200601003992 (723739-W)
8th Floor, Chulan Tower, No.3 Jalan Conlay, 50450 Kuala Lumpur. Tel: 03-2117 6688. Fax: 03-2117 3698.
7.
Can I cancel my Policy?
You may cancel your Insurance Certificate by giving a written notice to AXA AFFIN Life Insurance Berhad.
8.
What do I need to do if there are changes to my contact details?
Please contact us of any change in your contact details to ensure that all correspondences reach you in a timely manner.
9.
Where can I get further information?
Should you require additional information about life insurance, please refer to the insuranceinfo booklet on ‘Life Insurance' available at
all Our branches or you can visit www.insuranceinfo.com.my.
If you have any enquiries, please contact Us at:
AXA AFFIN Life Insurance Berhad
Ground Floor, Chulan Tower
No.3 Jalan Conlay
50450 Kuala Lumpur
Customer Care Line : 1 300 88 1616
General Line : 03-2117 6688
WhatsApp : 017-641 8867
Fax : 03-2117 6768
10.
Other similar types of cover available
Please ask AXA AFFIN Life Insurance Berhad for other similar types of plans offered.
IMPORTANT NOTE:
BUYING LIFE INSURANCE COVERAGE IS A LONG-TERM FINANCIAL COMMITMENT. YOU MUST CHOOSE THE TYPE OF INSURANCE COVERAGE THAT
BEST SUITS YOUR PERSONAL CIRCUMSTANCES. YOU SHOULD READ AND UNDERSTAND THE INSURANCE COVERAGE AND DISCUSS WITH YOUR
SALES PERSONNEL OR CONTACT AXA AFFIN LIFE INSURANCE BERHAD DIRECTLY FOR MORE INFORMATION.
This insurance plan is underwritten by AXA AFFIN Life Insurance Berhad 200601003992 (723739-W), a company licensed under the Financial Services Act 2013 and
regulated by Bank Negara Malaysia.
The information provided in this disclosure sheet is valid as at 1 February 2020.
