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Wednesday, 23 April 2008
STMB 1st Capital Protected ILP
Syarikat Takaful Malaysia Berhad (STMB) will launch its 1st capital protected investment-linked plan - myAL-AFDHAL, next month. Citibank is the structure provider for this product.Some of the notable features of myAL-AFDHAL are:
- It is on wakalah model (3% wakalah fee), not the normal mudharabah adopted by STMB
- Tabarru' of 0.5% of single contribution for the 5-year term
- Offer period: 2/5/2008 to 15/6/2008
- Minimum fund size: RM50 mil
- Fund management fee of 1% p.a.
- On death, pays higher of unit value of sum covered
- Partial withdrawal will void the capital protection on the remaining fund balance
- Surplus sharing on risk fund is 50:50
- Health declaration for investment up to RM1 mil, medical underwriting otherwise
Labels: Products, Takaful Malaysia
About Me
- Name: Teh Loo Hai
- Location: Kuala Lumpur, Malaysia
Loo Hai is an actuarial recruiter cum actuarial consultant. He has over 20 years of work experience gained in Malaysia and Australia in the actuarial, insurance, takaful and pension fields.
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