Enter promo code FITILAH to receive a 20% rebate on your first year's premium when paying annually.
The following Terms & Conditions shall apply to Fi Life Sdn Bhd’s (“FIL”) July 2019 Rebate Campaign (hereinafter referred to as “the Campaign”) which shall be held from 10 July 2019 to 31 July 2019 (hereinafter referred to as “Campaign Period”).
By participating in this Campaign, you hereby agree to be bound by the following Terms and Conditions.
The Campaign’s Terms and Conditions shall only apply to purchase made during Campaign Period.
Campaign Mechanics
A valid “promo code” (obtainable from FIL’s website, events, advertisements or other sources) must be entered by an eligible participant (“Participant”) during the purchase of Life Insurance or Personal Accident Cover (“Policy”) for this offer to be valid.
During the Campaign Period, Participants who chose Annual Payment Mode to purchase the Policy will be given 20% rebate on their first year’s premium (“the Reward”).
The Reward is only payable to the cardholder (“Payor”).
The Payor will receive the Reward within 45 days after the Campaign Period.
The Reward is withdrawn and will no longer be valid if Participant cancels the Policy within the 15 days free look period.
The Reward will be paid to the Payor via direct bank transfer.
Participant is expected to provide Payor’s bank details when asked by FIL, for the purpose of rebate payment via direct bank transfer.
The reward is not exchangeable or replaceable under any circumstances.
General
By participating in the Campaign, Participants are deemed to have agreed to be bound by these Terms & Conditions. FIL’s decision on all matters relating to the Campaign is final, binding and conclusive. No correspondence, queries or appeals will be entertained.
FIL reserves the right to cancel, terminate, suspend or extend the Campaign with or without any prior notice. For the avoidance of doubt, cancellation, termination or suspension by FIL shall not entitle any of the Participants to any claim or compensation against FIL for any losses or damages suffered or incurred by the Participants as a direct or indirect result of the cancellation, termination or suspension.
FIL reserves the right at its absolute discretion to amend, delete or add to any of these Terms and Conditions at any time with or without prior notice. Any variation, additions, deletions or amendments to the Terms and Conditions herein shall be binding on the Participants and be deemed to be brought to the attention of the Participants through any notice via email or website, if applicable.
FIL shall not be held liable and/or responsible for any loss, damage or any other form of liability (including indirect, consequential or economic losses, loss of profits, and loss of opportunity) in whatsoever nature and howsoever arising or suffered by any Participants directly or indirectly from the Campaign.
FIL shall not be held liable for any default of its obligation under the Campaign due to any force majeure event which include but is not limited to an act of God, war, riot, lockout, industrial action, fire, flood, drought, store or any event beyond the reasonable control of FIL.
This Campaign shall be governed by and construed in accordance with the laws of Malaysia and subject to the exclusive jurisdiction of the Courts of Malaysia.
A Term Life policy is an insurance policy that pays out a lump sum amount (known as the sum assured) in the event of your death or total and permanent disability. This amount is paid out to you or whomever you have nominated as the nominee of your term life policy.
Total and Permanent Disability or TPD is when you suffer from a permanent injury or disability that prevents you from working or performing basic living functions. It is more technically defined here, and if you are struck by it, your Term Life policy will pay out the sum assured so that you and your family can use it to provide care and support for you as well as replace the loss of your income because you are not able to work anymore.
Total and permanent disability of a breadwinner can be more of a financial burden to a family than their death. Not only does the family lose the income of the breadwinner, but extra financial resources will be needed to take care of them.
Our Term Life policy is described as a pure protection policy because there is no investment or savings component. Premiums you pay are not refundable, and your policy cannot be surrendered for any cash value.
However, since you are only paying for pure protection without allocating your money into any investments, this means that your premiums will be substantially cheaper than policies which combine protection with savings and investments elements.
As good practice, most independent financial planners will recommend a stand-alone investment plan that meets your savings or investment goals, but only after essential protection plans, like term life insurance and medical insurance, are in place.
Depending on your health profile, we may offer you an optional Critical Illness Add-on in addition to your Term Life policy. If you choose to purchase this add-on, you will be getting an advance payment of 25% of your sum assured if you are later diagnosed with one of the defined Critical Illness, specifically, Cancer, Stroke, Heart Attack or Coronary Artery Bypass Surgery.
The purpose of this Critical Illness Add-On is for you to have some cash support as you overcome your critical illness e.g. funds for medical treatment or to support your family whilst you are undergoing medical treatment or recuperating.
Sure. Say you purchase a Critical Illness Add-On together with your Term Life policy of RM1,000,000 sum assured. If you are later diagnosed with a Critical Illness, the policy will pay you 25% or RM250,000 first out of your Term Life policy sum assured of RM1,000,000. Your Term Life policy will continue to be in force and will be reduced to a remaining sum assured of RM750,000 payable upon your death or TPD.
Yes.
First, the claim has to be one of four very specific Critical Illnesses: Cancer, Stroke, Heart Attack or Coronary Artery Bypass Surgery. There are very specific definitions as to what is considered to be one of these Critical Illnesses.
Second, you must be diagnosed with the Critical Illness within the Critical Illness coverage period.
Third, you are allowed only one Critical Illness claim per Term Life policy.
Finally, there are a list of exclusions which will not be covered. These are listed in the Product Disclosure Sheet (Yearly Renewable Term / Level Term).
World-wide industry experience shows that more than 80% of all critical illness claims made are for one of these illnesses. To ensure reasonable premiums for all policyholders, Fi’s Critical Illness Add-On is limited to these four illnesses.
This is likely due to some factor in your health and lifestyle profile that makes you ineligible. However, if you purchased a Fi Term Life policy, your fundamental life insurance needs will be covered.
We may offer you an Accidental Death Cover if we are unable to offer you a Term Life policy due to your medical history, health profile, or occupation. Our Accidental Death Cover is an insurance policy that pays out a lump sum amount in the event of an accident that leads to your Death or Total and Permanent Disability.
Though more limited in scope, the Accidental Death Cover provides protection against sudden and unexpected death due to accidents. It also pays up to RM 20,000 for non-accidental death from the third (3rd) policy year onwards.
The Term Life policy, the Critical Illness Add-on and the Accidental Death Cover are all insured and underwritten by Tokio Marine Life Insurance Malaysia Bhd. This means that Tokio Marine Life Insurance Malaysia Bhd is responsible for payments of all claims under the issued insurance policies.
Tokio Marine Life Insurance Malaysia Bhd is a life insurer licensed under the Financial Services Act 2013 and regulated by Bank Negara Malaysia. It has been operating in Malaysia since 1948 and was registered as Tokio Marine Life Insurance Malaysia Bhd in 1998. It is part of the Tokio Marine Group, one of the world’s most globally diversified and financially secure insurance groups, with its holding company, Tokio Marine Holdings, Inc, listed on the Tokyo Stock Exchange.
Eligible age:
For the variable premium Yearly Renewable Term policy, you need to be between 18 and 64 years old
For the fixed premium Level Term policy, you need to be between 18 and 59 years old
You also need to fulfil the following criteria:
You are a Malaysian citizen
You currently reside in Malaysia (you are also eligible if you currently reside in Brunei, Singapore, USA, Canada, UK, Ireland, Australia, New Zealand, Hong Kong, Japan or Taiwan but you need to have a Malaysian residential address)
You have a valid email address and mobile number
Currently no, but we’re working on getting coverage for foreigners who reside or work in Malaysia. Watch this space.
If you’re Malaysian but live in Brunei, Singapore, USA, Canada, UK, Ireland, Australia, New Zealand, Hong Kong, Japan or Taiwan, you are eligible to buy a policy. All you need is a residential address in Malaysia.
The amount you pay for your insurance, or premium, is calculated based on your sum assured and whether you choose a Yearly Renewable Term policy or a Level Term policy. The premium varies depending on your age, sex, smoker status, health condition, family history and lifestyle.
To view your premium, get a quote via our website.
You have a choice of premiums that are either fixed for 20 years (popularly known as a 20 year level term policy), or premiums that increases slightly every year according to your age (popularly known as a yearly renewable term (“YRT”) policy). YRT policy premiums are usually cheaper in the beginning, but renews at a slightly higher premium every year as you get older.
Which you choose depends on your personal preference. Do you prefer the security of knowing that your premiums will be fixed for the next 20 years? Then the fixed premium level term policy is for you. But if you feel that you’d rather pay lesser in the beginning, but renew at a slightly higher rate every year as you earn more, then a YRT policy might be more suitable for you.
On our website, you can get a side-by-side quote for both the level term policy and the YRT policy. You can also see your how much your future yearly premiums are for the duration of the YRT policy.
No. Currently, we do not offer such a plan. However, a 20 year term is likely to be adequate for most protection needs like outstanding mortgages or for your children’s financial security until they are independent and earning their own income.
Yes, our underwriter Tokio Marine Life Insurance Malaysia Bhd guarantees that the premiums for the level term policy will remain unchanged for 20 years.
No. For YRT policies, Tokio Marine Life Insurance Malaysia Bhd reserves the right to amend premiums for all customers if there is a change in their overall risk profile. If this happens, you will be given 90 days’ notice of a change in your premium but it will not take effect until the next policy anniversary.
No. For all Critical Illness Add-Ons, including the fixed premium ones, our underwriter, Tokio Marine Life Insurance Malaysia Bhd, reserves the right to amend premiums for all customers if there is a change in their overall risk profile. If this happens, you will be given 90 days’ notice of a change in your premium but it will not take effect until the next policy anniversary.
Yes. Premiums for smokers are higher than those for non-smokers. However, if you stop smoking, and have done so for twelve consecutive months, you can apply for your premiums to be reduced by writing in to Tokio Marine Life Insurance Malaysia Bhd.
Yes. If your vaping liquids (or also popularly known as ‘juices’) contain nicotine, the premiums you would have to pay are higher than those for non-smokers or non-vapers. However, if you stop vaping with nicotine-based substances, and have done so for twelve consecutive months, you can apply for your premiums to be reduced by writing in to Tokio Marine Life Insurance Malaysia Bhd.
No medical check-up is required. However, when applying for your policy, you must answer all the questions on our website truthfully. Otherwise, if you have a claim on the policy in the future, Tokio Marine Life Insurance Malaysia Bhd. reserves the right to reject the claim if you have not been truthful.
The sum assured offered on our Term Life Cover policies ranges from RM100,000 to RM1,000,000 depending on your age and income.
This sum assured range is for Term Life policies that we issue online instantly without any medical examinations.
We are currently exploring offering a higher maximum sum assured if you are willing to undergo a medical examination. Please leave your contact details here if you want us to alert you once we are able to do this.
We have a life insurance calculator that will advise on how much coverage (i.e. sum assured) you need.
Please note though that we might not be able to offer you the full coverage you need as this depends on your age and income.
A waiting period is when you are not allowed to make a claim for specific situations or illnesses diagnosed or occurring within a certain period after you have bought our policy. Here are some examples of situations which have waiting periods:
Situation
Waiting Period
Death caused by suicide
One year
Critical Illness
One month (30 days)
For example, if death results from suicide, claimants are not allowed to claim on the life insurance policy if the suicide occurs within the waiting period of one year of the policy being purchased. If you have chosen a Critical Illness add-on to your policy, you are not allowed to claim on the Critical Illness Add-On if the critical illness is diagnosed within the waiting period of one month of the policy being purchased.
A detailed list of specific situations and their waiting periods can be found in the Product Disclosure Sheet of your policy.
Assuming you continue paying premiums throughout and your policy is in force, the period for which you are covered depends on the triggering event.
For the Term Life policy and optional Critical Illness Add-on, the triggering events are:
Triggering Event
Yearly Renewable Term
Level Term
Death
Age 80 on the next birthday
20 years or Age 80 on the next birthday, whichever is earlier
Total and Permanent Disability
Age 70 on the next birthday
20 years or Age 70 on the next birthday, whichever is earlier
Critical Illness
Accidental Death
For example, if you die when you’re 78 years old, which is before you turn 80 on your next birthday, your dependants are still entitled to a full cash pay-out. But if instead you suffer a total and permanent disability or critical illness when you’re 78 years old, you will not be entitled to a cash pay-out.
If you are offered an Accidental Death Cover instead of a Term Life policy, you are only covered if the accidental death occurs before you turn 75 on your next birthday.
However, if your policy ends before the Maximum Coverage Period above, your policy will only cover up to the end of the coverage term.
Fi’s Term Life policy is suitable for you if:
you are looking for a pure protection life insurance with affordable premiums
you have dependants who depend on your income (e.g. spouse, children, aging parents)
you have a mortgage or other debt that you want to be paid off immediately upon your death so that your family can live in a debt-free home without worrying about any mortgage repayments.
Unfortunately, we do not, and we do not intend to offer such policies anytime in the future. Currently, we only offer pure protection life insurance, which does not have a savings and investment components, and hence no returns or cash value.
We do not offer such policies because we believe you should separate your protection needs, which is covered by a pure protection life insurance, from your savings and investment needs. From the premium savings you get by buying a pure protection term life insurance like Fi Life’s, we recommend you start a separate savings and investment plan that suits your investment needs and risk profile. This plan is likely to include investments in equities, such as unit trusts or exchange-traded funds.
Certain situations are not covered by your insurance policy. Some examples of exclusions are as follows:
Nature of Claim
Exclusions
Death
Suicide (within one year of policy issuance or reinstatement, whichever is later)
Total and Permanent Disability
Self-inflicted injury
War, strikes, civil war
Inhalation, absorption or administration of poison, gas, fumes
Consumption of alcohol or drugs beyond legally permissible limits
The above list is non-exhaustive. Please refer to our Product Disclosure Sheet (PDS) and your policy contract for the full list of exclusions.
Just your NRIC. We will need a soft copy (picture/scan) of the front and back of your NRIC when you purchase a policy from us. This is required by the insurance company to verify your identity and to prevent complications during claims.
Our online application process will allow you to upload the documents in a simple and secure way. Alternatively, you may forward the NRIC copy to our email (hello@fi.life) or to our WhatsApp number (+6018 208 2000).
You can upload the front and back NRIC copies in .jpg, .jpeg, .png, .gif, .pdf, with a maximum file size of 5MB each.
Yes. Up to RM3,000 of life insurance premiums paid by you in any calendar year qualifies for a personal tax income relief under the category for Life insurance. Tokio Marine Life Insurance Malaysia Bhd will issue you with an annual Confirmation of Premium Payment Statement Board around February/March of the year so you can claim the relief when you file your income tax return in April.
Yes. However, you can only purchase up to a maximum of RM1,000,000 sum assured over all of your Fi Life policies that have been underwritten by Tokio Marine Life Insurance Malaysia Bhd , subject to other limits based on your age and income. Should your combined policies exceed the maximum limit of RM1,000,000, Tokio Marine Life Insurance Malaysia Bhd will only be liable to pay out the first RM1,000,000.
No. If you wanted to insure both lives, you both will each need to apply for a separate Term Life policy with your own individualised premium payment amount.
Please answer all questions truthfully and disclose all material and relevant information related to your health and lifestyle during the online application process. If you do not do this, you run the risk of your policy being voided and your claim rejected.
We accept payment via debit cards and credit cards issued in Malaysia only. You may select monthly, quarterly, half-yearly and annual payment.
If you purchase a policy of the maximum sum assured of RM1,000,000, you are entitled to an automatic premium discount of 10%.
You are also entitled to certain premium discounts depending on the payment frequency you have chosen for your debit or credit card deduction as follows:
Payment Frequency
Discount for YRT Policy
Discount for Level Term Policy
Annually
3%
5%
Half-yearly
2%
2%
Quarterly
1%
1%
Monthly
No discount
No discount
No receipts will be issued since the payment is done via auto debit of your debit or credit card. You may refer to your bank statement for payment details. However, Tokio Marine Life Insurance Malaysia Bhd. will issue you with a Confirmation of Premium Payment Statement annually around February/March of every year so that you can claim your tax relief when filling your personal income tax returns.
There is a grace period of 30 days from the premium due date for the payment to be made, after which the policy will lapse.
Once the policy has lapsed, you are no longer covered by your policy. If you wish to continue coverage, you will need to do one of the following depending on your policy type:
for Yearly Renewable Term policies, you will need to purchase a new policy through our website
for Level Term policies, you can choose to reinstate your policy within 2 years from when it lapsed, or alternatively, purchase a new level term policy through our website
For payments through auto-debit of debit cards, a very common reason for non-payment of premiums is insufficient balance in the relevant bank account. To prevent this, please ensure you always have sufficient balance in your bank account to cover the premium payment.
For payments through auto-debit of credit cards, the main reason for failed payments is that the relevant credit card has expired. To ensure continued insurance cover, when you receive a new credit card, please download the Credit/Debit Card Payment Authorisation Form, complete it with the new credit card details, and send a scanned copy of the completed form to customerservice@tokiomarinelife.com.my.
Yearly Renewable Term
There are two ways your premiums could change: premiums increase as you get older, or when Tokio Marine Life Insurance Malaysia Bhd. amends the premiums for all customers if there is a change in their overall risk profile.
When premiums increase due to your age, you will not be notified. The premiums you pay as you age are listed on the Fi Life website page where your premium was quoted.
If Tokio Marine Life Insurance Malaysia Bhd. amends the premiums for all customers, we will notify you at least 90 days ahead of any changes. This change in premium is only effective from the next policy anniversary; any payments before the end of your current policy year will remain unchanged.
If you find it difficult to pay your premiums, please contact us for assistance.
Level Term
Your premiums will not change throughout the coverage term. Hence, no notifications will be sent to you.
Yearly Renewable Term policies
Your policy renews automatically at each policy anniversary as long as your auto-debit payment from either your debit card or credit card continues to be successfully charged.
Level Term policies
You do not have to renew your policy as it’s a 20 year term policy. However, to ensure continued coverage, you must ensure that your policy does not lapse by ensuring that your auto-debit payment from your debit or credit card continues to be successfully charged.
You may register for e-services at https://www.tokiomarinelife.com.my/eServices after 3 working days of purchasing your policy. It is a secure web-based service. You are able to check policy information, change contact information, obtain and print Confirmation of Premium Payment Statement and access other online forms.
You can also hand in, mail or courier it to any Tokio Marine Life Insurance Malaysia Bhd. branch offices.
You may reduce your coverage amount by contacting Tokio Marine customer service at 03 2603 3999, or email customercare@tokiomarinelife.com.my. The change will take effect from next premium due date. We would be grateful if you could copy us at hello@fi.life.
Increase in coverage of your current policy is not allowed after the policy has been issued. However, you can effectively increase your coverage if you apply for a second Term Life policy so long as your maximum sum assured across all your policies does not exceed our sum assured evaluated for you. In any case, the sum assured across all your policies should not exceed RM1 million.
If you cancel within the first 15 days of your policy issuance (the “free look period”), the total premiums paid will be refunded to you.
If you cancel after the free look period, your policy will remain valid until the end of most recent payment period. For example, if you paid annually, the policy will remain in force until the end of the policy year.
Please contact us. To help us help you, please provide information such as your name, policy number and the mistake/error.
Once you have purchased your policy and you later move abroad, your policy will still be in force. Just make sure that you keep your Malaysian bank account or credit card from which your premium will continue to be auto-deducted.
We will need to know whom to pay the proceeds of your policy if you pass away. Without a formal nomination (by filling and signing the nomination form), Tokio Marine Life Insurance Malaysia Bhd. will not know to whom to make payment, and will need to wait for official documents like a Grant of Probate or Letters of Administration to see who are your lawful representatives. Needless to say, this would need verification and will delay payment of the claim. To avoid this, please fill up and sign the nomination form.
If your nomination creates a trust, you will also need to appoint a trustee.
Because of Islamic Faraid laws, a nominee of a Muslim policy holder will only receive the policy moneys as an executor of the deceased’s estate and not as a beneficiary. As such, the nominee(s) will receive policy moneys payable upon the death of the policy owner only as an executor and NOT AS A BENEFICIARY. This means that any payment made to the nominee shall form part of the deceased policy owner’s estate. Upon receipt of the policy monies, the nominee(s) shall distribute the policy monies in accordance with Faraid distribution laws.
A nominee of a Muslim policy holder might also be a beneficiary under the Islamic Faraid distribution laws (e.g. spouse, adult children) but he/she must distribute any insurance claim proceeds in the capacity of an executor in accordance with Faraid laws.
For non-Muslim policy holders, a nominee means the person who will receive the proceeds from your policy if you pass away. You can nominate more than one person, however you must state the specific share in percentage to be paid to each nominee. If the percentage is not stated, the proceeds from your policy will be divided equally among all the nominees.
Nominees are usually your spouse and/or your children. If your children are still minors, you should also appoint your spouse as a trustee (see “What is a Trustee” FAQ) so that your spouse can distribute the proceeds to your children.
If you do not have any spouse or children, you can nominate your parents, who will be treated as beneficiaries.
If you have a spouse and/or children but wish to nominate someone else, the nominee (s) is obligated to distribute the policy monies to your estate. Please consult a wills and probate practitioner for the technicalities around nominating a person other than your existing spouse or children.
The appointment of a trustee is required when your nomination creates a trust. This is because, when a policy is subject to a trust, a policy owner cannot deal with the policy by revoking a nomination, varying or surrendering the policy, or assigning or pledging the policy as security without the consent of the trustee.
If the nominee is a minor (18 years old and below), monies payable upon your death will be paid to the trustee. The reason for this is that minors are considered incompetent to contract and therefore not able to receive the policy monies.
Once your policy is issued, you will receive an e-policy document (in pdf form). Within your e-policy document, you will find a Nomination & Trust Form. Alternatively, you can download the latest version of the form here. Please print a copy of the form and fill it in.
Please note:
You will need to attach NRIC copies for yourself, your nominee(s), and trustee(s) (if any) in your submission.
A witness of sound mind and aged 18 and above must also witness the nomination. The witness must NOT be any of the nominees or trustees.
If you are changing your nominees or trustees, the latest submitted form will supersede all previous submissions.
If your policy is a trust policy, a nomination cannot be changed or revoked without the consent of the trustee.
Once completed, please hand in, mail or courier the form directly to any Tokio Marine Life Insurance Malaysia Bhd. branch offices.
Unfortunately, due to Malaysian laws, there is currently no legal way to appoint or change nominees & trustees digitally.
If you do not submit a Nomination and Trust form, our Claims Department will not know to whom to make the payment, and will need to wait for official documents like a Grant of Probate or Letters of Administration to see who is your estate’s representative. Needless to say, this would need verification and will delay payment of the claim. To avoid this, please fill up and sign the nomination form.
However, in the absence of a nomination and trust form, the insurance company may, at its discretion, make a payment to a claimant without requiring a Grant of Probate or a Letter of Administration under the following circumstances: -
Claimant is the policy owner’s spouse, child or parent in accordance with the Distribution Act 1958.
b) If there is no spouse, child or parent and the policy monies exceeds RM100,000, the Insurance company may pay the first RM100,000 to a person who satisfies the insurer that he/she is entitled to the policy owner’s property by virtue of the policy owner’s will or the law of distribution or is named as an executor in the will or will be named the administrator of the policy owner’s estate with consent of all the lawful beneficiaries.
The balance of the monies shall only be paid to the lawful executor or administrator of the estate of the deceased policy owner.
The insured is the person on whom the life protection is purchased. In other words, the insured is the covered individual in the life insurance contract. The life insurance policy rates are based upon the insured’s age, health and lifestyle factors at the time of application. On the insured’s death, the policy proceeds are paid to the policy owner’s nominee or his lawful representative.
The policy owner, also known as the policy holder, is the person who actually applies for the life insurance policy, and is responsible for paying the policy premiums and for nominating the nominees of the policy monies. Only the policy owner has the right to make a nomination.
In our online application, you are only allowed to buy insurance on your own life. So in effect, you are both the policy holder AND the insured. So when filling in any forms, please list yourself as both the policy holder as well as the insured.
If you applied for our insurance policy and purchased it, you, as a policy owner, can assign the ownership of your policy to another person. All you need to do is complete the Deed of Assignment form and send it to Tokio Marine Life Insurance Malaysia Bhd. However, please note that if the policy is subject to a trust, you will need the consent of the trustee to assign the policy.
You can make a claim by contacting Tokio Marine Life Insurance Malaysia Bhd. claim centre at or email them at customercare@tokiomarinelife.com.my. If you have any problems, please do not hesitate to contact us.
You may click here for claim related information. Please state the nature of your claim at the page. Thereafter, you will be able to view the options available to lodge a claim.
The claim form and supporting documents that are required for claim processing is stated on the page.
We know this may be an emotional and stressful period. Your first contact point should be Tokio Marine Life Insurance Malaysia Bhd. at 03 2603 3999 or customercare@tokiomarinelife.com.my but if you need further assistance with your claim, please contact us.
For Total and Permanent Disability claims, the total sum assured will be paid to the policy owner directly should the claim request be successful. Upon pay-out of the Total and Permanent Disability claim, the policy shall cease.
For Critical Illness claims, only 25% of the total sum assured will be paid to the policy owner should the claim be successful. The remaining 75% will be paid should there be a subsequent death or total and permanent disability, provided that premiums are still being paid and the Term Life policy is still in force.
No, only you, the policy holder, are entitled to the proceeds of a Critical Illness claim. The nominee is only entitled to policy monies payable on the death of the policy holder.
Please contact us together with details and a screenshot of the error, if possible.
Don’t worry, please contact us as soon as possible, and we’ll try to resolve the problem for you as soon as we can.
In February 2019, we rebranded from U For Life to Fi Life to reflect our new corporate identity. Though we no longer use U For Life brand, all policies issued under the U For Life brand remains valid and unchanged.
No. There are no changes to your policy and the coverage that you have purchased. All benefits, exclusions, premiums, validity periods, definitions, etc remain the same.
A Term Life policy is an insurance policy that pays out a lump sum amount (known as the sum assured) in the event of your death or total and permanent disability. This amount is paid out to you or whomever you have nominated as the nominee of your term life policy.
Total and Permanent Disability or TPD is when you suffer from a permanent injury or disability that prevents you from working or performing basic living functions. It is more technically defined here, and if you are struck by it, your Term Life policy will pay out the sum assured so that you and your family can use it to provide care and support for you as well as replace the loss of your income because you are not able to work anymore.
Total and permanent disability of a breadwinner can be more of a financial burden to a family than their death. Not only does the family lose the income of the breadwinner, but extra financial resources will be needed to take care of them.
Our Term Life policy is described as a pure protection policy because there is no investment or savings component. Premiums you pay are not refundable, and your policy cannot be surrendered for any cash value.
However, since you are only paying for pure protection without allocating your money into any investments, this means that your premiums will be substantially cheaper than policies which combine protection with savings and investments elements.
As good practice, most independent financial planners will recommend a stand-alone investment plan that meets your savings or investment goals, but only after essential protection plans, like term life insurance and medical insurance, are in place.
Depending on your health profile, we may offer you an optional Critical Illness Add-on in addition to your Term Life policy. If you choose to purchase this add-on, you will be getting an advance payment of 25% of your sum assured if you are later diagnosed with one of the defined Critical Illness, specifically, Cancer, Stroke, Heart Attack or Coronary Artery Bypass Surgery.
The purpose of this Critical Illness Add-On is for you to have some cash support as you overcome your critical illness e.g. funds for medical treatment or to support your family whilst you are undergoing medical treatment or recuperating.
Sure. Say you purchase a Critical Illness Add-On together with your Term Life policy of RM1,000,000 sum assured. If you are later diagnosed with a Critical Illness, the policy will pay you 25% or RM250,000 first out of your Term Life policy sum assured of RM1,000,000. Your Term Life policy will continue to be in force and will be reduced to a remaining sum assured of RM750,000 payable upon your death or TPD.
Yes.
First, the claim has to be one of four very specific Critical Illnesses: Cancer, Stroke, Heart Attack or Coronary Artery Bypass Surgery. There are very specific definitions as to what is considered to be one of these Critical Illnesses.
Second, you must be diagnosed with the Critical Illness within the Critical Illness coverage period.
Third, you are allowed only one Critical Illness claim per Term Life policy.
Finally, there are a list of exclusions which will not be covered. These are listed in the Product Disclosure Sheet (Yearly Renewable Term / Level Term).
World-wide industry experience shows that more than 80% of all critical illness claims made are for one of these illnesses. To ensure reasonable premiums for all policyholders, Fi’s Critical Illness Add-On is limited to these four illnesses.
This is likely due to some factor in your health and lifestyle profile that makes you ineligible. However, if you purchased a Fi Term Life policy, your fundamental life insurance needs will be covered.
We may offer you an Accidental Death Cover if we are unable to offer you a Term Life policy due to your medical history, health profile, or occupation. Our Accidental Death Cover is an insurance policy that pays out a lump sum amount in the event of an accident that leads to your Death or Total and Permanent Disability.
Though more limited in scope, the Accidental Death Cover provides protection against sudden and unexpected death due to accidents. It also pays up to RM 20,000 for non-accidental death from the third (3rd) policy year onwards.
The Term Life policy, the Critical Illness Add-on and the Accidental Death Cover are all insured and underwritten by Tokio Marine Life Insurance Malaysia Bhd. This means that Tokio Marine Life Insurance Malaysia Bhd is responsible for payments of all claims under the issued insurance policies.
Tokio Marine Life Insurance Malaysia Bhd is a life insurer licensed under the Financial Services Act 2013 and regulated by Bank Negara Malaysia. It has been operating in Malaysia since 1948 and was registered as Tokio Marine Life Insurance Malaysia Bhd in 1998. It is part of the Tokio Marine Group, one of the world’s most globally diversified and financially secure insurance groups, with its holding company, Tokio Marine Holdings, Inc, listed on the Tokyo Stock Exchange.
Eligible age:
For the variable premium Yearly Renewable Term policy, you need to be between 18 and 64 years old
For the fixed premium Level Term policy, you need to be between 18 and 59 years old
You also need to fulfil the following criteria:
You are a Malaysian citizen
You currently reside in Malaysia (you are also eligible if you currently reside in Brunei, Singapore, USA, Canada, UK, Ireland, Australia, New Zealand, Hong Kong, Japan or Taiwan but you need to have a Malaysian residential address)
You have a valid email address and mobile number
Currently no, but we’re working on getting coverage for foreigners who reside or work in Malaysia. Watch this space.
If you’re Malaysian but live in Brunei, Singapore, USA, Canada, UK, Ireland, Australia, New Zealand, Hong Kong, Japan or Taiwan, you are eligible to buy a policy. All you need is a residential address in Malaysia.
The amount you pay for your insurance, or premium, is calculated based on your sum assured and whether you choose a Yearly Renewable Term policy or a Level Term policy. The premium varies depending on your age, sex, smoker status, health condition, family history and lifestyle.
To view your premium, get a quote via our website.
You have a choice of premiums that are either fixed for 20 years (popularly known as a 20 year level term policy), or premiums that increases slightly every year according to your age (popularly known as a yearly renewable term (“YRT”) policy). YRT policy premiums are usually cheaper in the beginning, but renews at a slightly higher premium every year as you get older.
Which you choose depends on your personal preference. Do you prefer the security of knowing that your premiums will be fixed for the next 20 years? Then the fixed premium level term policy is for you. But if you feel that you’d rather pay lesser in the beginning, but renew at a slightly higher rate every year as you earn more, then a YRT policy might be more suitable for you.
On our website, you can get a side-by-side quote for both the level term policy and the YRT policy. You can also see your how much your future yearly premiums are for the duration of the YRT policy.
No. Currently, we do not offer such a plan. However, a 20 year term is likely to be adequate for most protection needs like outstanding mortgages or for your children’s financial security until they are independent and earning their own income.
Yes, our underwriter Tokio Marine Life Insurance Malaysia Bhd guarantees that the premiums for the level term policy will remain unchanged for 20 years.
No. For YRT policies, Tokio Marine Life Insurance Malaysia Bhd reserves the right to amend premiums for all customers if there is a change in their overall risk profile. If this happens, you will be given 90 days’ notice of a change in your premium but it will not take effect until the next policy anniversary.
No. For all Critical Illness Add-Ons, including the fixed premium ones, our underwriter, Tokio Marine Life Insurance Malaysia Bhd, reserves the right to amend premiums for all customers if there is a change in their overall risk profile. If this happens, you will be given 90 days’ notice of a change in your premium but it will not take effect until the next policy anniversary.
Yes. Premiums for smokers are higher than those for non-smokers. However, if you stop smoking, and have done so for twelve consecutive months, you can apply for your premiums to be reduced by writing in to Tokio Marine Life Insurance Malaysia Bhd.
Yes. If your vaping liquids (or also popularly known as ‘juices’) contain nicotine, the premiums you would have to pay are higher than those for non-smokers or non-vapers. However, if you stop vaping with nicotine-based substances, and have done so for twelve consecutive months, you can apply for your premiums to be reduced by writing in to Tokio Marine Life Insurance Malaysia Bhd.
No medical check-up is required. However, when applying for your policy, you must answer all the questions on our website truthfully. Otherwise, if you have a claim on the policy in the future, Tokio Marine Life Insurance Malaysia Bhd. reserves the right to reject the claim if you have not been truthful.
The sum assured offered on our Term Life Cover policies ranges from RM100,000 to RM1,000,000 depending on your age and income.
This sum assured range is for Term Life policies that we issue online instantly without any medical examinations.
We are currently exploring offering a higher maximum sum assured if you are willing to undergo a medical examination. Please leave your contact details here if you want us to alert you once we are able to do this.
We have a life insurance calculator that will advise on how much coverage (i.e. sum assured) you need.
Please note though that we might not be able to offer you the full coverage you need as this depends on your age and income.
A waiting period is when you are not allowed to make a claim for specific situations or illnesses diagnosed or occurring within a certain period after you have bought our policy. Here are some examples of situations which have waiting periods:
Situation
Waiting Period
Death caused by suicide
One year
Critical Illness
One month (30 days)
For example, if death results from suicide, claimants are not allowed to claim on the life insurance policy if the suicide occurs within the waiting period of one year of the policy being purchased. If you have chosen a Critical Illness add-on to your policy, you are not allowed to claim on the Critical Illness Add-On if the critical illness is diagnosed within the waiting period of one month of the policy being purchased.
A detailed list of specific situations and their waiting periods can be found in the Product Disclosure Sheet of your policy.
Assuming you continue paying premiums throughout and your policy is in force, the period for which you are covered depends on the triggering event.
For the Term Life policy and optional Critical Illness Add-on, the triggering events are:
Triggering Event
Yearly Renewable Term
Level Term
Death
Age 80 on the next birthday
20 years or Age 80 on the next birthday, whichever is earlier
Total and Permanent Disability
Age 70 on the next birthday
20 years or Age 70 on the next birthday, whichever is earlier
Critical Illness
Accidental Death
For example, if you die when you’re 78 years old, which is before you turn 80 on your next birthday, your dependants are still entitled to a full cash pay-out. But if instead you suffer a total and permanent disability or critical illness when you’re 78 years old, you will not be entitled to a cash pay-out.
If you are offered an Accidental Death Cover instead of a Term Life policy, you are only covered if the accidental death occurs before you turn 75 on your next birthday.
However, if your policy ends before the Maximum Coverage Period above, your policy will only cover up to the end of the coverage term.
Fi’s Term Life policy is suitable for you if:
you are looking for a pure protection life insurance with affordable premiums
you have dependants who depend on your income (e.g. spouse, children, aging parents)
you have a mortgage or other debt that you want to be paid off immediately upon your death so that your family can live in a debt-free home without worrying about any mortgage repayments.
Unfortunately, we do not, and we do not intend to offer such policies anytime in the future. Currently, we only offer pure protection life insurance, which does not have a savings and investment components, and hence no returns or cash value.
We do not offer such policies because we believe you should separate your protection needs, which is covered by a pure protection life insurance, from your savings and investment needs. From the premium savings you get by buying a pure protection term life insurance like Fi Life’s, we recommend you start a separate savings and investment plan that suits your investment needs and risk profile. This plan is likely to include investments in equities, such as unit trusts or exchange-traded funds.
Certain situations are not covered by your insurance policy. Some examples of exclusions are as follows:
Nature of Claim
Exclusions
Death
Suicide (within one year of policy issuance or reinstatement, whichever is later)
Total and Permanent Disability
Self-inflicted injury
War, strikes, civil war
Inhalation, absorption or administration of poison, gas, fumes
Consumption of alcohol or drugs beyond legally permissible limits
The above list is non-exhaustive. Please refer to our Product Disclosure Sheet (PDS) and your policy contract for the full list of exclusions.
Just your NRIC. We will need a soft copy (picture/scan) of the front and back of your NRIC when you purchase a policy from us. This is required by the insurance company to verify your identity and to prevent complications during claims.
Our online application process will allow you to upload the documents in a simple and secure way. Alternatively, you may forward the NRIC copy to our email (hello@fi.life) or to our WhatsApp number (+6018 208 2000).
You can upload the front and back NRIC copies in .jpg, .jpeg, .png, .gif, .pdf, with a maximum file size of 5MB each.
Yes. Up to RM3,000 of life insurance premiums paid by you in any calendar year qualifies for a personal tax income relief under the category for Life insurance. Tokio Marine Life Insurance Malaysia Bhd will issue you with an annual Confirmation of Premium Payment Statement Board around February/March of the year so you can claim the relief when you file your income tax return in April.
Yes. However, you can only purchase up to a maximum of RM1,000,000 sum assured over all of your Fi Life policies that have been underwritten by Tokio Marine Life Insurance Malaysia Bhd , subject to other limits based on your age and income. Should your combined policies exceed the maximum limit of RM1,000,000, Tokio Marine Life Insurance Malaysia Bhd will only be liable to pay out the first RM1,000,000.
No. If you wanted to insure both lives, you both will each need to apply for a separate Term Life policy with your own individualised premium payment amount.
Please answer all questions truthfully and disclose all material and relevant information related to your health and lifestyle during the online application process. If you do not do this, you run the risk of your policy being voided and your claim rejected.
We accept payment via debit cards and credit cards issued in Malaysia only. You may select monthly, quarterly, half-yearly and annual payment.
If you purchase a policy of the maximum sum assured of RM1,000,000, you are entitled to an automatic premium discount of 10%.
You are also entitled to certain premium discounts depending on the payment frequency you have chosen for your debit or credit card deduction as follows:
Payment Frequency
Discount for YRT Policy
Discount for Level Term Policy
Annually
3%
5%
Half-yearly
2%
2%
Quarterly
1%
1%
Monthly
No discount
No discount
No receipts will be issued since the payment is done via auto debit of your debit or credit card. You may refer to your bank statement for payment details. However, Tokio Marine Life Insurance Malaysia Bhd. will issue you with a Confirmation of Premium Payment Statement annually around February/March of every year so that you can claim your tax relief when filling your personal income tax returns.
There is a grace period of 30 days from the premium due date for the payment to be made, after which the policy will lapse.
Once the policy has lapsed, you are no longer covered by your policy. If you wish to continue coverage, you will need to do one of the following depending on your policy type:
for Yearly Renewable Term policies, you will need to purchase a new policy through our website
for Level Term policies, you can choose to reinstate your policy within 2 years from when it lapsed, or alternatively, purchase a new level term policy through our website
For payments through auto-debit of debit cards, a very common reason for non-payment of premiums is insufficient balance in the relevant bank account. To prevent this, please ensure you always have sufficient balance in your bank account to cover the premium payment.
For payments through auto-debit of credit cards, the main reason for failed payments is that the relevant credit card has expired. To ensure continued insurance cover, when you receive a new credit card, please download the Credit/Debit Card Payment Authorisation Form, complete it with the new credit card details, and send a scanned copy of the completed form to customerservice@tokiomarinelife.com.my.
Yearly Renewable Term
There are two ways your premiums could change: premiums increase as you get older, or when Tokio Marine Life Insurance Malaysia Bhd. amends the premiums for all customers if there is a change in their overall risk profile.
When premiums increase due to your age, you will not be notified. The premiums you pay as you age are listed on the Fi Life website page where your premium was quoted.
If Tokio Marine Life Insurance Malaysia Bhd. amends the premiums for all customers, we will notify you at least 90 days ahead of any changes. This change in premium is only effective from the next policy anniversary; any payments before the end of your current policy year will remain unchanged.
If you find it difficult to pay your premiums, please contact us for assistance.
Level Term
Your premiums will not change throughout the coverage term. Hence, no notifications will be sent to you.
Yearly Renewable Term policies
Your policy renews automatically at each policy anniversary as long as your auto-debit payment from either your debit card or credit card continues to be successfully charged.
Level Term policies
You do not have to renew your policy as it’s a 20 year term policy. However, to ensure continued coverage, you must ensure that your policy does not lapse by ensuring that your auto-debit payment from your debit or credit card continues to be successfully charged.
You may register for e-services at https://www.tokiomarinelife.com.my/eServices after 3 working days of purchasing your policy. It is a secure web-based service. You are able to check policy information, change contact information, obtain and print Confirmation of Premium Payment Statement and access other online forms.
You can also hand in, mail or courier it to any Tokio Marine Life Insurance Malaysia Bhd. branch offices.
You may reduce your coverage amount by contacting Tokio Marine customer service at 03 2603 3999, or email customercare@tokiomarinelife.com.my. The change will take effect from next premium due date. We would be grateful if you could copy us at hello@fi.life.
Increase in coverage of your current policy is not allowed after the policy has been issued. However, you can effectively increase your coverage if you apply for a second Term Life policy so long as your maximum sum assured across all your policies does not exceed our sum assured evaluated for you. In any case, the sum assured across all your policies should not exceed RM1 million.
If you cancel within the first 15 days of your policy issuance (the “free look period”), the total premiums paid will be refunded to you.
If you cancel after the free look period, your policy will remain valid until the end of most recent payment period. For example, if you paid annually, the policy will remain in force until the end of the policy year.
Please contact us. To help us help you, please provide information such as your name, policy number and the mistake/error.
Once you have purchased your policy and you later move abroad, your policy will still be in force. Just make sure that you keep your Malaysian bank account or credit card from which your premium will continue to be auto-deducted.
We will need to know whom to pay the proceeds of your policy if you pass away. Without a formal nomination (by filling and signing the nomination form), Tokio Marine Life Insurance Malaysia Bhd. will not know to whom to make payment, and will need to wait for official documents like a Grant of Probate or Letters of Administration to see who are your lawful representatives. Needless to say, this would need verification and will delay payment of the claim. To avoid this, please fill up and sign the nomination form.
If your nomination creates a trust, you will also need to appoint a trustee.
Because of Islamic Faraid laws, a nominee of a Muslim policy holder will only receive the policy moneys as an executor of the deceased’s estate and not as a beneficiary. As such, the nominee(s) will receive policy moneys payable upon the death of the policy owner only as an executor and NOT AS A BENEFICIARY. This means that any payment made to the nominee shall form part of the deceased policy owner’s estate. Upon receipt of the policy monies, the nominee(s) shall distribute the policy monies in accordance with Faraid distribution laws.
A nominee of a Muslim policy holder might also be a beneficiary under the Islamic Faraid distribution laws (e.g. spouse, adult children) but he/she must distribute any insurance claim proceeds in the capacity of an executor in accordance with Faraid laws.
For non-Muslim policy holders, a nominee means the person who will receive the proceeds from your policy if you pass away. You can nominate more than one person, however you must state the specific share in percentage to be paid to each nominee. If the percentage is not stated, the proceeds from your policy will be divided equally among all the nominees.
Nominees are usually your spouse and/or your children. If your children are still minors, you should also appoint your spouse as a trustee (see “What is a Trustee” FAQ) so that your spouse can distribute the proceeds to your children.
If you do not have any spouse or children, you can nominate your parents, who will be treated as beneficiaries.
If you have a spouse and/or children but wish to nominate someone else, the nominee (s) is obligated to distribute the policy monies to your estate. Please consult a wills and probate practitioner for the technicalities around nominating a person other than your existing spouse or children.
The appointment of a trustee is required when your nomination creates a trust. This is because, when a policy is subject to a trust, a policy owner cannot deal with the policy by revoking a nomination, varying or surrendering the policy, or assigning or pledging the policy as security without the consent of the trustee.
If the nominee is a minor (18 years old and below), monies payable upon your death will be paid to the trustee. The reason for this is that minors are considered incompetent to contract and therefore not able to receive the policy monies.
Once your policy is issued, you will receive an e-policy document (in pdf form). Within your e-policy document, you will find a Nomination & Trust Form. Alternatively, you can download the latest version of the form here. Please print a copy of the form and fill it in.
Please note:
You will need to attach NRIC copies for yourself, your nominee(s), and trustee(s) (if any) in your submission.
A witness of sound mind and aged 18 and above must also witness the nomination. The witness must NOT be any of the nominees or trustees.
If you are changing your nominees or trustees, the latest submitted form will supersede all previous submissions.
If your policy is a trust policy, a nomination cannot be changed or revoked without the consent of the trustee.
Once completed, please hand in, mail or courier the form directly to any Tokio Marine Life Insurance Malaysia Bhd. branch offices.
Unfortunately, due to Malaysian laws, there is currently no legal way to appoint or change nominees & trustees digitally.
If you do not submit a Nomination and Trust form, our Claims Department will not know to whom to make the payment, and will need to wait for official documents like a Grant of Probate or Letters of Administration to see who is your estate’s representative. Needless to say, this would need verification and will delay payment of the claim. To avoid this, please fill up and sign the nomination form.
However, in the absence of a nomination and trust form, the insurance company may, at its discretion, make a payment to a claimant without requiring a Grant of Probate or a Letter of Administration under the following circumstances: -
Claimant is the policy owner’s spouse, child or parent in accordance with the Distribution Act 1958.
b) If there is no spouse, child or parent and the policy monies exceeds RM100,000, the Insurance company may pay the first RM100,000 to a person who satisfies the insurer that he/she is entitled to the policy owner’s property by virtue of the policy owner’s will or the law of distribution or is named as an executor in the will or will be named the administrator of the policy owner’s estate with consent of all the lawful beneficiaries.
The balance of the monies shall only be paid to the lawful executor or administrator of the estate of the deceased policy owner.
The insured is the person on whom the life protection is purchased. In other words, the insured is the covered individual in the life insurance contract. The life insurance policy rates are based upon the insured’s age, health and lifestyle factors at the time of application. On the insured’s death, the policy proceeds are paid to the policy owner’s nominee or his lawful representative.
The policy owner, also known as the policy holder, is the person who actually applies for the life insurance policy, and is responsible for paying the policy premiums and for nominating the nominees of the policy monies. Only the policy owner has the right to make a nomination.
In our online application, you are only allowed to buy insurance on your own life. So in effect, you are both the policy holder AND the insured. So when filling in any forms, please list yourself as both the policy holder as well as the insured.
If you applied for our insurance policy and purchased it, you, as a policy owner, can assign the ownership of your policy to another person. All you need to do is complete the Deed of Assignment form and send it to Tokio Marine Life Insurance Malaysia Bhd. However, please note that if the policy is subject to a trust, you will need the consent of the trustee to assign the policy.
You can make a claim by contacting Tokio Marine Life Insurance Malaysia Bhd. claim centre at or email them at customercare@tokiomarinelife.com.my. If you have any problems, please do not hesitate to contact us.
You may click here for claim related information. Please state the nature of your claim at the page. Thereafter, you will be able to view the options available to lodge a claim.
The claim form and supporting documents that are required for claim processing is stated on the page.
We know this may be an emotional and stressful period. Your first contact point should be Tokio Marine Life Insurance Malaysia Bhd. at 03 2603 3999 or customercare@tokiomarinelife.com.my but if you need further assistance with your claim, please contact us.
For Total and Permanent Disability claims, the total sum assured will be paid to the policy owner directly should the claim request be successful. Upon pay-out of the Total and Permanent Disability claim, the policy shall cease.
For Critical Illness claims, only 25% of the total sum assured will be paid to the policy owner should the claim be successful. The remaining 75% will be paid should there be a subsequent death or total and permanent disability, provided that premiums are still being paid and the Term Life policy is still in force.
No, only you, the policy holder, are entitled to the proceeds of a Critical Illness claim. The nominee is only entitled to policy monies payable on the death of the policy holder.
Please contact us together with details and a screenshot of the error, if possible.
Don’t worry, please contact us as soon as possible, and we’ll try to resolve the problem for you as soon as we can.
In February 2019, we rebranded from U For Life to Fi Life to reflect our new corporate identity. Though we no longer use U For Life brand, all policies issued under the U For Life brand remains valid and unchanged.
No. There are no changes to your policy and the coverage that you have purchased. All benefits, exclusions, premiums, validity periods, definitions, etc remain the same.
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