Income Replacement Plan is a protection plan for you and your loved ones and it helps to provide some financial security in times of hardship. The money from your policy will be paid to your loved ones when you pass away or to you should you suffer a total and permanent disability or loss.
INCOME TAX RELIEF
You can claim for tax relief of up to a maximum amount of RM6,000 per year for an ordinary life policy. This is inclusive of any contributions you have paid to an approved retirement benefit scheme such as the Employees Provident Fund or other pension scheme.
WHY DO I NEED IT ?
To ensure that your immediate family has some financial support after your demise
To finance your children’s education
To have a savings plan for the future so that you have a constant source of income after retirement
To ensure that you have extra income when your earnings are reduced due to serious illness or accident