Improved benefits under Group Term Life Policy
The LawCare Committee has negotiated an increase of RM10,000 in the payout under the Group Term Life Policy, which commenced on 1 July 2012. All other benefits, conditions and exclusions remain the same. Members should note that there is no increase in their annual LawCare subscription, which remains at RM100. A summary of the benefits are as follows:
In the event of a Member’s death, a sum of RM40,000 (and an additional RM2,000 for funeral expenses) will be paid to the beneficiary or trustee duly nominated by the Member. In cases where no nomination has been made, the sum will be paid to either the executor or administrator of the deceased Member’s estate. This claim has no exclusions and covers death resulting from all causes. Note that Members who suffer from terminal illness may claim this sum of RM40,000 immediately.
Members who have not made a nomination or wish to change their nomination, may do so by filling up the nomination form and returning it to the Bar Council. The nomination form may be obtained from the Bar Council Secretariat or downloaded here.
In the event a Member suffers from permanent disability, a sum of RM40,000 will be paid to the Member. There are exclusions for this claim which include disability caused by an attempt to commit suicide or a pre–existing condition.
In the event a Member below the age of 70 passes away overseas, the Member’s family is entitled to claim repatriation costs up to the maximum sum of RM100,000.
All these benefits, the extent of coverage, and full details of exclusions are stated in the Group Term Life Policy taken by the Bar Council for the benefit of Members. Members are encouraged to view the policy to learn its full details. The policy may be viewed here.
New Scheme — Disability Income Insurance
The LawCare Committee has secured a new insurance proposal designed to assist Members sustain their monthly income following temporary or permanent disablement resulting from illness, disease or accident. Disablement here means a Member is prevented from attending to his or her business or occupation.
The premium payable will depend on various factors, such as age and income of the respective Member. As a guide, a 40–year–old Member earning a monthly income of RM10,000 would pay a premium of RM603 annually for this policy. In return, the Member is entitled to receive RM7,200 a month up to 24 months while suffering from temporary disablement. In the event of permanent disablement, the Member is entitled to claim RM600,000.
This policy is not compulsory and it is up to each Member to decide if he or she wants to subscribe to it. For more details on the policy, kindly contact Shegi Nair by telephone at 03–2050 2099 or by email at firstname.lastname@example.org.
Dated 31 July 2012
Kanarasan Ghandinesen (Chairperson) | Yasmeen Shariff (Deputy Chairperson) | Alex Tan Jee Hian | G Balakrishnan | Jagjit Singh | Jayamurugan Vadivelu | Rajendra Raj | S Ravichandran | Serene Ong Si–Oui | Shegi Nair (Officer–in–charge)