BC renewed the Group Term Life (“GTL”) Insurance Policy with AIA Bhd with effect from 1 July 2013 with the annual insurance premium of RM50 per Member. During this term, the LawCare Committee successfully obtained a slightly better premium rate than the previous rate, ie from RM51.55 to RM50.00 per Member.
Benefits under LawCare
In the event of a Member’s death, RM40,000 (previously RM30,000) is paid to the Member’s beneficiary or trustee, and an additional sum of RM2,000 is paid for funeral expenses. Members who suffer from terminal illness may claim the sum of RM40,000 immediately.
In cases where a Member suffers from total or partial permanent disability, RM40,000 (previously RM30,000), or a percentage of this sum, is paid to the Member.
In both instances, RM30,000 (and the additional RM2,000) is paid from the insurance policy and the remaining RM10,000 is paid from the LawCare Fund. However, the insurance policy only covers Members up to 70 years of age. Therefore, in the event of death or disability befalling Members above 70 years of age, the full sum is paid from the LawCare Fund.
In addition, where a Member below the age of 70 passes away while abroad, the Member’s family is entitled to claim towards the repatriation expenses.
LawCare also assists the family of a deceased Member; where beneficiaries have been nominated, RM10,000 from the LawCare Fund shall be paid immediately to the nominee. The LawCare Committee also considers compassionate payment in circumstances where Members suffer terminal illness (eg cancer) on a case–by–case basis.
The premium schedule and claims information for the previous and current terms are tabulated below:
2012 to June 2013
2013 to June 2014
|Premium paid for
||13,845 Members, at
RM51.55 per Member
||14,986 Members, at
RM50.00 per Member
|Total premium paid
|Number of death
||3 (as at 30 Sept
Promoting awareness of Members’ entitlements under LawCare
The LawCare Committee recognises that it is important for Members to be aware of their entitlements under LawCare. To promote such awareness, the LawCare Committee issued Circular No 057/2013 dated 6 Mar 2013 to Members summarising the benefits and exclusions under LawCare, as well as briefly explaining the claims process for death or disability, and financial assistance from the LawCare Fund.
A web report about the improved benefits and new scheme can be accessed here.
Members can access the GTL Insurance Policy and relevant forms on the Malaysian Bar website, under the “Resources<Frequently Used Forms” tab.
Indran V Kumaraguru
Indran V Kumaraguru (Chairperson) | Kanarasan Ghandinesen (Co–Deputy Chairperson) | Asbir Kaur Sangha (Co–Deputy Chairperson) | Alex Tan Jee Hian | G Balakrishnan | Jagjit Singh | Nazriah Shaik Alawdin | Rajendra Raj | S Ravichandran | Serene Ong Si–Oui | Shegi Nair (Officer–in–charge)