• Sun EduSmart

Education reward

 

A lump sum payment will be awarded when the life assured completes the following:

  • UPSR / PSLE / equivalent standard 6 exams - RM500
  • SPM / SPVM / O-Level / equivalent Form 5 exams - RM1,000





Policy owner waiver of premium benefit (Parent / guardian)

Should death or TPD befall the policy owner, the remaining premium payments will be waived and the policy will remain in force.

Education Booster Fund (EBF)

EBF is an additional amount of money that will be paid on top of the Guaranteed Maturity Benefit upon policy maturity and is not available for withdrawal before maturity. It is an annual addition that will be pro-rated and credited at the end of each policy monthly anniversary according to the benchmark yield.  Please refer to the sample illustration for more details.

Additional tax relief

Tax relief under insurance premium for education benefit in addition to the usual tax relief for life insurance and Employees Provident Fund (EPF).

Guaranteed maturity benefit

Sum assured; or Total premiums payable* whichever is higher.











Life insurance benefit (Life assured - child)

The following will be payable upon death or total & permanent disability (TPD):

Sum assured; or Total premiums payable* whichever is higher, plus EBF

*Shall include premium waived when policy status is under waiver of premium.

 

Additional Features

Sample illustration for Education Booster Fund (EBF)

Policy owner's age                         : 30 years old

Life assured's age                           : 1 year old

Policy term                                       : 20 years

Sum assured                                    : RM62,000.00

Monthly premium                           : RM249.40

Guaranteed maturity benefit (A)   : RM62,000.00

Projected EBF:

Scenario High Low
End of Policy Year
Benchmark Yield
Annual Addition** (RM) Benchmark Yield Annual Addition** (RM)
1 4.00% 1,116.00 4.00% 1,116.00
2 4.50% 1,333.00 4.00% 1,116.00
3 5.00% 1,550.00 3.50% 899.00
4 5.50% 1,767.00 3.00% 682.00
5 to 20 5.75% 1,875.50 2.75% 573.50
Projected total amount in EPF upon maturity (B)
  35,774.00   12,989.00
Total premiums payable   59,856.00   59,856.00
Total projected maturity payout (A+B) RM97,774.00 RM74,989.00

Note: The first year’s annual addition is calculated based on the benchmark yield as of 1 Jan 2015. Annual additions for the second year onwards are illustrations only and may vary based on the actual benchmark yield declared.

 

Calculation of monthly addition:

 

Benchmark Yield

Annual Addition Rate (per RM1,000 Sum Assured)

 

Benchmark Yield

Annual Addition Rate (per RM1,000 Sum Assured)
Term 6 - 12 Term 13 - 20 Term 6 - 12 Term 13 - 20
<2% 0 0 4.00% 18.00 18.00
2% 6.00 4.00 4.25% 19.50 19.75
2.25% 7.50 5.75 4.50% 21.00 21.50
2.50% 9.00 7.50 4.75% 22.50 23.25
2.75% 10.50 9.25 5.00% 24.00 25.00
3.00% 12.00 11.00 5.25% 25.50 26.75
3.25% 13.50 12.75 5.50% 27.00 28.50
3.50% 15.00 14.50 5.75% 28.50 30.25
3.75% 16.50 16.25 6.00% 30.00 32.00

Any subsequent increase in the annual addition rate will be in similar magnitude i.e. an increase of RM6 per RM1,000 sum assured for every 1.00% increase in the benchmark yield above 6.00% for policy term 6 - 12 years and RM7 per RM1,000 sum assured for policy term 13 - 20 years.

Referring to the sample illustration for EBF, if the benchmark yield is 4.00% for the year, the annual addition rate will be RM18 per RM1,000 sum assured.

Monthly addition (RM) = Annual addition rate × Sum assured

                                     12 × 1,000

= 18.00 × 62,000

       12 ×1,000

= RM93.00

 

 

  Life Assured
Policy Owner (Parent / Guardian)
Minimum age of entry
30 days old
18 years old
Maximum age of entry 18 years old 55 years old
Maximum expiry age

13 - 25 years old

Depending on child's age at entry and policy term

75 years old

Premium term and payment

Yearly, half-yearly, quarterly & monthly payment via credit card, debit card or direct debit.

 

Sum Assured:

Easy enrolment with simple health questionnaires for sum assured ranging from RM50,000 to RM250,000. Full underwriting requirements shall apply for sum assured above RM250,000.

* Annual addition will be pro-rated and credited monthly into the EBF. Please refer to Appendix A for calculation of the monthly addition according to the benchmark yield.

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

PIDM Clause:

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.

 

 

  Life Assured
Policy Owner (Parent / Guardian)
Minimum age of entry
30 days old
18 years old
Maximum age of entry 18 years old 55 years old
Maximum expiry age

13 - 25 years old

Depending on child's age at entry and policy term

75 years old

Premium term and payment

Yearly, half-yearly, quarterly & monthly payment via credit card, debit card or direct debit.

 

Sum Assured:

Easy enrolment with simple health questionnaires for sum assured ranging from RM50,000 to RM250,000. Full underwriting requirements shall apply for sum assured above RM250,000.

* Annual addition will be pro-rated and credited monthly into the EBF. Please refer to Appendix A for calculation of the monthly addition according to the benchmark yield.

 

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

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.

  Life Assured
Policy Owner (Parent / Guardian)
Minimum age of entry
30 days old
18 years old
Maximum age of entry 18 years old 55 years old
Maximum expiry age

13 - 25 years old

Depending on child's age at entry and policy term

75 years old

Premium term and payment

Yearly, half-yearly, quarterly & monthly payment via credit card, debit card or direct debit.

 

Sum Assured:

Easy enrolment with simple health questionnaires for sum assured ranging from RM50,000 to RM250,000. Full underwriting requirements shall apply for sum assured above RM250,000.

* Annual addition will be pro-rated and credited monthly into the EBF. Please refer to Appendix A for calculation of the monthly addition according to the benchmark yield.

 

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

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.