Important Notice About Your Investment-Linked Coverage

Promoting lifelong takaful coverage.

Info Sheet

Guide to Investment-Linked Certificate

Frequently Asked Questions

1. What is Sustainability?

Sustainability applies to investment linked certificates. It refers to the expected duration of our customers’ takaful coverage.

There are two ways for customers to check and track their Sustainability:

  1. Sustainability Statement (as part of Annual Statement)
  2. Certificate Alteration Sustainability Statement (CASS)
2. What is Sustainability Statement?

Sustainability Statement provides information to assist our customers in monitoring and managing their coverage. It displays the expected duration of their takaful coverage and actions they can take to maintain their coverage until the end of the contractual term.

3. What are the possible factors that can affect “Certificate Sustainability”?
  • Making partial withdrawal(s) from the fund(s)
  • Not paying the Contributions due on time
  • Current Contribution level or fund value is insufficient to sustain the Certificate until the end of the Certificate term
  • Unfavorable investment returns
4. Is “Certificate Sustainability” referring to basic plan only? Does it apply to rider(s) as well? How about Certificate Supplementary Benefit attached to the Certificate Basic Coverage?

The Certificate Sustainability is applicable to the whole component in the Takaful Certificate. Please note that the Basic Plan and rider(s) might have different contractual terms.

5. Where can customers obtain their Sustainability Statement?

Softcopy of the statement will be available in PruBSN Touch as part of Annual Statement.

6. Who will receive the Sustainability Statement?

All customers with active investment-linked certificate as at 31 December will receive Sustainability Statement the following year.

7. Will the Sustainability Statement display all investment-linked certificate that a customer has in a consolidated basis?

No. Sustainability Statements are issued based on individual certificates.

8. What do customers need to do upon receiving this Sustainability Statement?

It is important for customers to read the statement thoroughly so they can make informed decisions which will help to manage their certificate coverage.

Customers are encouraged (but not obliged) to take the recommended actions which may be subject to assessment from the company.  Alternatively, they may refer to their Sales Representative/Takaful Consultant for further review.

9. Do customers need to reply to PruBSN on the Sustainability Statement and is there a deadline that customers need to adhere to?

Customers are encouraged (but not obliged) to take actions according to the steps recommended in the statement at their convenience. 

10. What if the customer is unable to take immediate action to sustain his / her because his / her certificate has lapsed upon receiving the Sustainability Statement?

The customer will need to revive his/her certificate and the next Annual Sustainability Statement will be issued to him/her.

11. How can the customer perform Single Contribution Top Up (SCTU)?

By submitting the following:

  1. Application, Switching, Withdrawal or Contribution Redirection Form
  2. Acknowledged Certificate Alteration Sustainability Statement
  3. Make payment by Cash or Cheque at Prudential or PruBSN Branches.

Note: The daily cash acceptance limit at branch is RM 10,000 per certificate.

12. How can the customer perform Regular Contribution Top Up (RCTU)?

To submit the following:

  1. Alteration Request Form (ARF) – Tick under Takaful Saver Account
  2. Acknowledged Certificate Alteration Sustainability Statement
  3. Quotation Slip
  4. Make Payment by Credit Card, Cash or Cheque at Prudential or PruBSN Branches (if required)

Note: The daily cash acceptance limit at branch is RM 10,000 per certificate.

13. Will PruBSN regenerate the Sustainability Statement if customers decide to pay the amount stated in the statement at a later date?

No. However, we will issue Certificate Alteration Sustainability Statement upon top up application.

14. Who should customers refer to if they want to know more about Sustainability Statement and Certificate Alteration Sustainability Statement?

Customers may contact their Takaful Consultant or the following for further assistance:

  1. Contact Center: 03-20537111
  2. Email: takaful.sustainability@prubsn.com.my
  3. Any Prudential/PruBSN branches

1. What is Certificate Alteration Sustainability Statement and its purpose?

Certificate Alteration Sustainability Statement is a disclosure of the expected duration of takaful coverage which is carried out in the event the customer indicates intention to exercise an option or make an alteration to the Certificate, e.g. partial withdrawal, addition of extensions Supplementary Benefit, increases in term of takaful Coverage beginning 1 January 2020 onwards.

Customer must acknowledge on the statement before PruBSN can proceed with the alteration request.

2. Why is this Certificate Alteration Sustainability Statement issued for customers?

Certificate Alteration Sustainability Statement provides information before and after the alteration, to facilitate timely and informed decision-making in monitoring and managing their coverage. It displays the expected duration of their takaful coverage and actions they can take to maintain their coverage until the end of the contractual term.

3. Can customers request to generate Certificate Alteration Sustainability Statement without any alterations?

No. Certificate Alteration Sustainability Statement will only be provided upon selected alteration request. On top of that, customers will be informed on the Certificate Sustainability in the Sustainability Statement.

4. Will the Certificate Alteration Sustainability Statement be saved in PruBSN Touch for future reference?

No. However, customers can contact the following channels for a copy of their Certificate Alteration Sustainability Statement.

  • Sales Representative/Takaful Consultant or
  • PruBSN Customer Service or
  • Walk-in to the nearest branch
5. What options do customers have if they are not satisfied with the Certificate Alteration Sustainability Statement results?

To maintain customers’ Certificate coverage until the end of the contractual term, we recommend customers to take one of the following actions:

  • Regular Contribution Top-up or
  • Single Contribution Top-up or
  • Review the Certificate benefits such as sum covered, Optional Benefit and others to improve the sustainability of the Certificate via Sales Representative / Takaful Consultant or PruBSN representative.
6. What are customers required to do upon receiving this Certificate Alteration Sustainability Statement?

a) Customers are required to check their current Certificate Sustainability against their Certificate      Expiry Age.

  1. Scenario 1: If current Certificate Sustainability is more than or same as Certificate Expiry Age, customers can proceed with step c).
  2. Scenario 2: If current Certificate Sustainability is less than Certificate Expiry Age, customers are recommended to consider the options stated in the Certificate Alteration Sustainability Statement.

b) Customers are required to check the recommended new contribution after alteration if it is     
    within their affordability.


c) Customers must acknowledge on the statement before PruBSN can proceed with the alteration
   request.

7. What is the validity period of the Certificate Alteration Sustainability Statement?

Validity for Certificate Alteration Sustainability Statement is 30 calendar days from issuance date. Sales Representative/Takaful Consultant will need to submit a revised copy if it has exceeded the validity period.

8. Will there be any changes to the results of the Certificate Alteration Sustainability Statement if it was generated on different days, for example, Today vs Tomorrow?

Yes. It will be influenced by several factors. For example, fund value pricing which may change daily etc.

9. Can customers self-estimate the information shown in the Certificate Alteration Sustainability Statement?

That is not possible as the calculation requires multiple assumptions or rates being used.

10. What is the turnaround time for Certificate Alteration Sustainability Statement to be generated?

Expected within 5 working days.

11. How can customers obtain the Certificate Alteration Sustainability Statement?

Customers may contact their Sales Representative / Takaful Consultant to obtain a copy or contact the following for further assistance:

  1. Contact Center: 03-20537111
  2. Email: takaful.sustainability@prubsn.com.my
  3. Any Prudential or PruBSN branches
12. What will happen if customers choose to proceed with the Certificate alteration (including the endorsement contribution) without paying the recommended top-ups despite having Current Certificate Sustainability less than their Certificate Expiry Age?

There may be a risk that the Certificate might lapse before Certificate Expiry Age.

1. What kind of certificate alterations will be subjected to Sustainability?

List of Certificate Alteration requiring Certificate Alteration Sustainability Statement as below:

Endorsement

  1. Increase / Reduction in Contribution
  2. Inclusion / Cancellation of Benefit
  3. Increase / Reduction of Coverage
  4. Inclusion / Cancellation of Takaful Saver
  5. Increase / Reduction of Takaful Saver                    

Certificate Servicing

  1. Partial Withdrawal
  2. Fund Switching
  3. Contribution Redirection
  4. Single Contribution Top-up

Note: Please note the above listing may be updated from time to time

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