According to recent Malaysian statistics, an average of two in every three Malaysians will contract heart disease, stroke or cancer. Fortunately, innovations in technology and recent medical studies have paved the way for the majority of these illnesses to be cured, provided we have sufficient funds.
So, how do we prepare for the high cost of medical treatment? For just a few ringgit a day Great Eastern’s GMBIS will take care of your medical bills. GMBIS is an affordable insurance plan with comprehensive protection against loss of life, total permanent disability, accident and the 36 critical illnesses. Hospital benefit can also be included in this plan. In addition, the plan offers investment benefits payable either upon permanent disability, loss of life, maturity or diagnosis of any of the 36 critical illnesses. The total investment value depends on the performance of the unit funds and the total number of years of contribution.
Lion Progressive Fund
This fund seeks to maximise capital appreciation over the medium to long term while reducing risk through a diversified portfolio of investments comprising equities and fixed income securities. In general, the fund invests in a minimum of 50 per cent and up to a maximum of 90 per cent in equities.
Dana Restu
This is a growth fund which invests in companies with good prospects and seeks to maximise capital appreciation over the medium to long term. Allocation to equity investment is between 70 per cent and 100 per cent of the portfolio. Dana Restu invests in Shariah - approved securities.
Note: Although Dana Restu invest in Shariah-approved securities, the investment-linked insurance plan that utilises these funds is not classified as a Shariah-compliant product.
Lion Balanced Fund
A balanced fund which invest in a mixture of equity and fixed income securities comprising convertible debt securities, redeemable debt securities and government-backed bonds/securities. The fund's exposure to equities (between 40 per cent and 60 per cent of the fund) will preserve the long-term purchasing power of assets.
Lion Fixed Income Fund
Invests in government securities, corporate bonds and money market securities. The fund allocates a minimum of 40 per cent and a maximum of 95 per cent to fixed income securities. The aim of the fund is to preserve the capital and it appeals to risk-averse investors.
Bid offer price
Mode of contribution payment:
Minimum: | Four units for number of members >= 500 Six units for number of members <= 499 |
Maximum: | No limit |
A fund management charge will be deducted at each asset valuation before determining the bid and offer prices. Unit prices will reflect the deduction.
Fund | Management charge as % of fund value |
---|---|
Dana Restu | 1.50 |
Lion Progressive Fund | 1.35 |
Lion Balanced Fund | 1.00 |
Lion Fixed Income Fund | 0.50 |
A member may withdraw from the scheme by redeeming all his fund units at the bid price.
An assured life whose assurance has been in force for at least 12 months and who intends to remain an assured life is eligible to redeem a portion or all of the current fund units subject to a minimum redemption of fund units with a value of RM200. Each redemption is subject to a processing fee of RM10.
Minimum: 100
Maximum: No limit
No scheme will be issued if the number of lives within the scheme is less than 100.
Death/TPD/Other Disabilities
Critical Illnesses
Hospitalisation Benefit
Why is GMBIS so attractive?
What Are The Benefits?
For example, for a premium contribution of RM 50 per month, members are eligible to receive this protection:
Term Insurance
RM 50,000 for loss of life or total and permanent disability.
Personal Accident
RM 100,000 for accidental death or accidental total and permanent disability.
Critical Illness
RM 50,000 if diagnosed with any of the 36 critical illnesses.
Funeral Expenses
RM 5,000.
Investment Benefit
Total Investment Value (TIV).
A monthly administration fee will be deducted by cancelling units already allocated to the policy from the policyholder's funds, at the bid price at the next valuation date, at the beginning of each policy month based on the following table:
Monthly Premium |
TERM (natural) Death/TPD |
PERSONAL ACCIDENT Death/TPD |
36 Critical Illness |
Funeral Expenses |
Maturity Benefit |
---|---|---|---|---|---|
RM 50 |
RM 50,000 + TIV |
RM 250,000 + TIV |
RM 50,000 + TIV |
RM 5,000 |
TIV |
RM 100 |
RM 100,000 + TIV |
RM 200,000 + TIV |
RM 100,000 + TIV |
RM 5,000 |
TIV |
RM 150 |
RM 150,000 + TIV |
RM 300,000 + TIV |
RM 150,000 + TIV |
RM 5,000 |
TIV |
RM 200 |
RM 200,000 + TIV |
RM 400,000 + TIV |
RM 200,000 + TIV |
RM 5,000 |
TIV |
RM 250 |
RM 250,000 + TIV |
RM 500,000 + TIV |
RM 250,000 + TIV |
RM 5,000 |
TIV |
TIV - If the member decides to stop contributing the premium before maturity, cash surrender value, which is based on the value of the accumulated investment units at the prevailing unit bid price.
Q. Can the spouse/children continue participating in this scheme, if the member dies/ is disabled /has contracted a critical illness before maturity age or the member attains maturity age?
YES. They can participate until they attain maturity and pay the premium through union/association/co-operative.
Q. Can the member/spouse/children apply to contribute more?
YES. The member/spouse/children needs to apply again by completing a normal group proposal form for approval by Great Eastern and up to the maximum benefit allowed.
Q. Will Great Eastern pay full death benefit if the member dies of suicide?
Great Eastern will pay full death benefit due to suicide after 12 months of policy coverage.
Q. Can a member withdraw the unit from Dana Restu?
A member may withdraw all or part of his current unit holdings and still continue to be insured provided that:
Additional employee benefits, normally set-up as tax-approved schemes.
Purpose:
If you wish to get a quotation, please click here.