• Biz Shield

Biz Shield is a non-participating single premium reducing term plan that provides credit protection and is offered to the customers who take up Enterprise Portfolio Guarantee loan with CIMB Bank in the event of Death or Total and Permanent Disability (TPD) of the life assured.

Customers who take up business loan with CIMB Bank.  The financial institution as master policy owner whiles the financing applicant as certificate holder.

Entry age limit

(age last birthday)

i)              Minimum age at entry : 21 years old
ii)             Maximum age at entry : 65 years old
iii)            Maximum expiry age    : 70 years old

Policy Term

i)              Minimum term : 1 year
ii)             Maximum term: 7 years

Sum assured

i)               Minimum : RM50,000
ii)              Maximum: RM 1,000,000

This plan covers:

  • Death: The reducing sum assured will be payable in one lump sum upon death of the life assured.
  • Total and permanent disability (TPD) (own & similar occupation): The reducing sum assured will be payable in one lump sum upon TPD of the life assured. 

This product is underwritten by Sun Life Malaysia Assurance Berhad (197499-U) (“Sun Life Malaysia”), an insurer registered with Bank Negara Malaysia under the Financial Services Act 2013 

Sun Life Malaysia is a member of Perbadanan Insurans Deposit Malaysia (PIDM). As a member of PIDM, some of the benefits insured under the insurance policies offered by Sun Life Malaysia are protected against loss of part or all of the insurance benefits by PIDM, in the unlikely event of an insurer member failure. For further details of the protection limits and the scope of the coverage, please visit the PIDM website (https://www.pidm.gov.my) or call the PIDM toll free line at 1-800-88-1266. 

Disclaimer:
The description of the features and benefits of the insurance product herein is not a contract of insurance and is only a brief summary of the insurance product for quick and easy reference. The complete terms and conditions of the insurance product are contained in the Policy Document of Sun Life Malaysia Assurance Berhad (197499-U), the Insurer. 

CIMB Bank Berhad ("Bank") accepts no responsibility, obligation or liability for this insurance product and the services provided by the Insurer. 

The Bank merely acts as a distributor for this insurance product. 

This insurance product is Sun Life Malaysia's product and not a product of the Bank. Therefore this insurance product is not guaranteed by the Bank, its subsidiaries and/or its affiliates and the Insurer shall undertake the full insurance responsibilities, obligations and liabilities in respect of this insurance product.

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