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AmMetLife Scholar

Sound education is the pathway to success and a secure future for your child. As a parent, you know that providing quality tertiary education for your child could take up a major portion of your savings, thus, it requires careful planning.

With the AmMetLife Scholar education savings plan, you can give your child a head start in life. This participating endowment plan protects your child’s tertiary education funds by providing guaranteed cash benefits including Educational Relief Allowance payable at age 12 and age 17, and a total of 180% of Basic Sum Assured payable over the last three policy years.

This is a Bancassurance product.

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Benefits

Death Coverage

In the event of the child’s unfortunate demise, the total death benefits payable include:

  • For Natural Death: 200% of Basic Sum Assured or Total Premium Payable up to the end of current policy year at the time of Natural Death, whichever is higher.
  • For Accidental Death: 300% of Basic Sum Assured or Total Premium Payable up to the end of current policy year at the time of Accidental Death, whichever is higher.
  • Educational Relief Allowance and Guaranteed Cash Payments Accumulated with interest (if any unpaid or left to be accumulated)
  • Cash Dividends* Accumulated with interest (if any unpaid or left to be accumulated)
  • Terminal Dividend*

Note: Reduced Cover for Child is applicable.
*Cash Dividend and Terminal Deividend are not guaranteed and are subject to AmMetlife's Participating Fund's performance

Benefits

Total & Permanent Disability Coverage (TPD)

If the child suffers from TPD (all causes), the total benefits payable include:

  • 200% of Basic Sum Assured or Total Premium Payable up to the end of current policy year at the time of TPD, whichever is higher
  • Educational Relief Allowance and Guaranteed Cash Payments with interest (if any unpaid or left to be accumulated)
  • Cash Dividends* Accumulated with interest (if any unpaid or left to be accumulated)
  • Terminal Dividend*

Note: Reduced Cover for Child is applicable. *Cash Dividend and Terminal Dividend are not guaranteed and are subject to AmMetLife’s Participating Fund’s performance.

Benefits

Guaranteed Cash Benefits

Isn’t it good to know that when your child is ready to enter college, the education fund is readily available? AmMetLife Scholar offers Educational Relief Allowance and Guaranteed Cash Payments allowing your child to pursue his/her dreams and aspirations. For a policy that has been in force for more than three years, your child will receive Guaranteed Educational Relief Allowance.

Guaranteed Cash Benefits Schedule

Educational Relief Allowance After Life Assured reaches age 12 RM500.00
After Life Assured reaches age 17 RM1,000.00
Guaranteed Cash Payment After Life Assured reaches age 18 50% of Basic Sum Assured
After Life Assured reaches age 19 60% of Basic Sum Assured

Benefits

Annual Cash Dividend

On top of the Guaranteed Cash Benefits, you can enjoy the Non-Guaranteed Cash Dividend to further enhance the education fund. The cash dividend may be declared annually from the end of the 2nd policy year. You have the option to:
1. Leave it with AmMetLife Insurance Berhad (AmMetLife) to accumulate with interest; or
2. Withdraw the money
If no option is chosen, the default option shall be Option 1.

Maturity Benefits - The plan will mature at the end of the policy year after your child reaches the age of 20 with the total maturity benefits as follows:

  • 70% of Basic Sum Assured (Guaranteed)
  • Educational Relief Allowance and Guaranteed Cash Payments Accumulated with interest (if any unpaid or left to be accumulated)
  • Cash Dividends* Accumulated with interest (if any unpaid or left to be accumulated)
  • Terminal Dividend* (if any).

Benefits

Enhanced Protection With Payor Benefit Rider

If Death or Total and Permanent Disability (TPD) befalls the policy owner, the Payor Benefit Rider will ensure the waiver of future premiums of the basic plan up to the additional coverage term. Your policy remains in force and your child’s education fund is fully protected.

Flexibility to choose from four premium plans

Based on your budget and your child’s future education needs, you can choose from the four plans offered. The Sum Assured will be determined by the chosen plan and the entry age of your child.

Plan 1 2 3 4
Monthly Premium RM125 (min) RM300 RM500 RM1,250 (max)

Premium paying term will be 19 years minus the entry age.

*Cash Dividend and Terminal Dividend are not guaranteed and are subject to AmMetLife’s Participating Fund’s performance.

Disclaimer: The information, statement and/or descriptions contained herein are strictly meant to be general information for quick reference and illustration purposes only and are not intended to be the complite description of all terms and conditions applicable to any products mentioned herein. Please refer to the Product Disclosure Sheet (PDS) for more information.

For further clarification and information, you may contact our Customer Care Centre at 1300 88 8800.