MaaxEducation is a regular premium investment-linked non-participating endowment policy. A proportion of a Policyholder's Regular Premiums is allocated to buy units from any of the MAA Investment-Linked Funds of their choice. 

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1. Death Benefit

In the event of the Insured Person's death prior to the Maturity Date, the Basic Sum Assured plus the Investment Account value is payable.

2. Total and Permanent Disability (TPD)

Upon TPD, the Basic Sum Insured is payable and you have the choice of:-

1. Terminating the policy and receiving the Investment Account Value; or

2. Continuing with the Investment Account until the Maturity Date.

3. Juvenile Lien

In the event of death or TPD prior to attaining the age of 4, a juvenile lien shall apply to the Basic Sum Assured payment in accordance with the following schedule:

4. Partial Withdrawal Benefit

Part (withdrawal) of an investment may be made by redeeming units in an investment-Fund. The minimum withdrawal amount is RM1,000. However, the minimum Investment Account balance that must be maintained across all Funds is RM2,000.

5. Surrender

Surrender of an investment may be made by redeeming all units in all Investment-Linked Funds. All insurance benefits shall also cease upon surrender.

6. Continuation Option

At the Maturity Date the Insured has the option of continuing with a MaaxLife Plan on their own, without any evidence of insurability. The policy opt for continuation option will be considered as continuing policy year and will not be treated as 1st year policy. This option must be exercised within 60 days of the Maturity Date for a Sum Assured no greater than that under the MaaxEducation Plan, otherwise evidence of insurability will be required. The continuing unit of the funds = The fund value at maturity / The unit price at exercise date.

7. Income Tax Relief

Income Tax Relief of up to RM3,000 for medical and educational insurance (subject to final decision by the Inland Revenue Board). For this purpose, MaaxEducation Plan is required to attach one of the Payor Benefit Riders.

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The balance of your premiums not allocated for Life Insurance Protection can be used for Investments. You have a choice of many types of professionally managed Funds to make up your Investment Account. You may change or switch between Funds at any time you desire. Choice of MAA Investment-Linked Funds

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You can make withdrawals (Partial Withdrawal) and cash out (Surrender) your policy at any time. You  may change the Regular Premium at any time after the first year subject to the minimum premium and the minimum & maximum sum assured requirements. You may also increased or reduced the Basic Sum Assured at any time after the first year subject to the minimum & maximum sum assured requirements (An increase in Basic Sum Assured will be subjected to underwriting and will take effect at the due date of the next modal Regular Premium Payment). Furthermore, you can stop paying regular premiums and still enjoy the life insurance protection as long as there are sufficient units in your MaaxEducation Account balance to pay for all insurance & rider charges and policy fees.

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This optional rider is accelerated on the MaaxEducation policy. It covers 8 types of Juvenile Diseases/Treatments. A portion or 100% of the sum assured of this cover will be payable on first diagnosis of a dread disease. The 8 types of diseases/treatments are (Click on illness for full definition):

1. SEVERE ASTHMA

2. LEUKAEMIA

3. BONE MARROW TRANSPLANT

4. INSULIN DEPENDENT DIABETES MELLITUS

5. RHEUMATIC FEVER WITH VALVULAR IMPAIRMENT

6. KAWASAKI DISEASE WITH HEART COMPLICATIONS

7. INTELLECTUAL IMPAIRMENT DUE TO ACCIDENT OR SICKNESS

8. GLOMERULONEPHRITIS WITH NEPHROTIC SYNDROME

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1. Eligibility

The entry age of the Life Insured must be between 30 days old and 15 years. However, the Owner of the policy must be aged 18 years and above.

2. Minimum & Maximum Basic Sum Assured

As a multiple of the Annualised Regular Premium according to the following table:

3. Ease of Payment

The minimum Annual Regular Premium is RM600 but you have the flexibility to also pay the premiums monthly (minimum monthly premium of RM50), quarterly (minimum quarterly premium of RM150) or half-yearly (minimum half-yearly premium of RM300). Master and Visa Credit Card payment are accepted. Easy payment by accepted

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• INSURANCE CHARGES - based on attained age, sex and basic sum assured.
• MONTHLY POLICY FEE - a RM6 per month Policy Fee is levied.
• SWITCH FEE - 1 free switch is available every year. Subsequent switches will incur a Switch Fee of RM50.

• PREMIUM RE-DIRECTION - RM50 per re-direction.

All fees and charges are levied through cancellation of units. The fees and charges above may be varied from time to time.

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