Q: What is Disability plan?
A: Disability plan is a yearly renewable term plan that pays a lump sum amount (“Coverage Amount”) if your member suffers from Total Permanent Disability (“TPD”) from all causes.
Q: What is the definition of TPD?
A: TPD is a condition when your member suffer a permanent disability arising from illness or injury and they are unable to do any work anymore or perform basic living functions. For the complete definition of TPD, kindly refer to Product Disclosure Sheet or Contract.
Q: How long is the coverage?
A: Disability coverage lasts for 1 year. You can renew the policy every year until the member is 70 years old.
Q: Does this product suit my member?
A: This product is suitable if you want pure protection at the most affordable cost for your member. However, you should be satisfied that this plan fulfills your members’ needs and that the premium is within your budget.
Q: What is the amount of coverage I should choose for my member?
A: The aim is to reduce the member’s family and the member’s financial burden should an unfortunate event happen. The amount of coverage depends on your budget and financial needs. Nevertheless, you must ensure that you can afford the premium throughout the coverage term.
Q: How much premium do I have to pay for my member?
A: The premium depends on your member’s age, gender, occupation and amount of coverage. Hence the premium increases as they age at each renewal date. To find out what your member’s current and future premiums are, please refer to Product Disclosure Sheet.
Q: Is there any additional fees that I need to pay for my member?
A: No additional fees will be charged.
Q: Does my member get Income Tax Relief for premiums paid?
A: Yes, your member may qualify for personal income tax relief subject to final decision of the Inland Revenue Board.
Q: Who is eligible to be insured under DearTime’s Disability plan?
A: All Malaysians aged between 14 days old and 65 years old are eligible for this plan.
Q: My member is a Malaysian; however, he/she is now residing in another country. Can I buy this plan for my member?
A: Unfortunately, we are unable to provide your member with an insurance policy at this time. We are working hard to offer coverage for customers in this situation; you may sign up to become our User and stay tuned for future updates.
Q: My member is not Malaysian; can I buy this plan for the member?
A: Unfortunately, we are unable to provide this service at the moment. We are working hard to offer coverage for customers in this situation; you may sign up to become our User and stay tuned for future updates.
Q: How can I know more about the features and benefits of Disability plan?
A: You can learn more about the features, benefits and exclusion by referring to the Product Disclosure Sheet and Contract.
Q: Why do I need to provide documents like Business Registration Certificate, Form 24 and Form 49?
A: It is our duty, as a responsible financial institution, to identify and verify the identity of our customers. For this purpose, please ensure the image (including documents) provided shows your details clearly. We reserve the right to defer or reject your application if we are unable to satisfactorily verify your identity through the documents provided.
Q: How do I change my company’s contact details?
A: You can change your email address and mobile number via our DearTime Corporate Portal.
Q: Is Sales and Services Tax (SST) chargeable for DearTime Products?
A: No. We offer “group” insurance as individual policies, not group policies, hence 6% tax is exempted.
Q: What happens to my member’s coverage if I stop paying premiums?
A: Your member’s coverage will be deactivated automatically if the premium is not paid within the grace period of 30 days for policy less than 2 years or 90 days for policy more than 2 years.
Q: Can I reactivate my member’s coverage after it is deactivated?
A: No, you will have to go through the new purchase process.
Q: Can I change my premium payment frequency?
A: Payer may switch the premium frequency anytime between monthly and yearly:
- If it is switched to monthly mode, the new premium frequency will take effect from the next premium due date.
- If it is switched to yearly mode, the new premium frequency will take effect immediately upon successful payment of unpaid annual premium that is outstanding until the next renewal date.
Q: Can I change the member’s amount of coverage after purchasing?
A: You can increase or decrease the Coverage Amount anytime in DearTime Corporate Portal:
- Increased coverage amount will take effect immediately upon successful payment of additional premium prorated to the next premium due date.
- Decreased coverage amount will take effect on the next premium due date.
Q: Can I cancel my member’s coverage after purchasing it?
A: Yes, you can:
- If you cancel your policy within 15 days from the date you first purchase, we will refund the premium to your bank account.
- After the 15-days cancellation period, you can deactivate your member’s coverage anytime. Your member’s coverage will be deactivated on the next premium due date. There will be no refund of premium.
Q: Can I purchase Disability plan if my member already have a medical condition?
A: No, we are unable to offer your member Disability plan if they already have a medical condition. Please contact us should you need more information on what these medical conditions are.
Q: Is my member required to go for medical checkup to purchase Disability plan?
A: No medical checkup or examination is required. Your member just needs to complete the medical survey. They can also get our panel doctor from a panel clinic near them to assist them to answer. All they need to do is to pay the medical survey fee to the panel clinic first and we will reimburse them when their coverage starts.
Q: What will happen if my member did not answer the medical survey truthfully or mistakenly declare wrong information?
A: It is important that your member disclose all required information correctly and truthfully. False disclosure may result in claims rejection. We reserve the right to verify all information provided by your member and may void/cancel the policy if we discover that they have provided incorrect information.
Q: When will my member receive their policy documents after purchasing Disability plan?
A: Immediately upon successful purchase, your member can view their Product Disclosure Sheet and Policy Contract in their DearTime account.
Q: Will there be an agent to assist me in purchasing andediting my member’s coverage?
A: We have made insurance processes simple, fully digital and at your convenience. If you have any question, you can contact us via live chat, email or our customer service helpline.
Q: Who may I contact for enquiries on my member’s coverage and where can I get more information?
A: Live chat: in DearTime app
Customer Service Helpline: +603 8605 3511
Email: help@deartime.com