Group LIVIN'PAY Scheme
On May 28, 1999 Great Eastern Life Assurance Berhad signed a Memorandum of Understanding with Sarawak Teachers' Union (STU)
to implement a new group insurance scheme, called the "Group Livin'Pay Scheme". The ceremony was held in Hilton Hotel, Kuching.
The president of the union, Mr. William Ghani Bina, signed on behalf of STU while Mr. Alex Foong, the company's chief executive
signed for the insurance company.
The Assistant Industrial Development Minister of Sarawak, Y.B. En. Sim Kheng Hui, officiated at the function. Details of
the insurance scheme is printed on a brochure issued by both STU and the company.
The above scheme is specially planned for STU's members and their spouses.
Our Union (Sarawak Teachers' Union) is honoured to offer you a special group insurance cum saving scheme which takes care of you and your spouse even after your retirement. The principal sum assured is 1,000 times your monthly premium and is doubled when it is accidental.
To the Union, this scheme is not only a health insurance but also a protection for your family when you retire. During this special
promotion period, the insurance company has agreed to accept all applicants irrespective of their health condition so long as their
illnesses are disclosed. Every member of the Union or spouse will be insured for the same benefits shown below for a monthly premium
of RM40.00 + RM4.00 (Hospitalization Benefit).
| Coverage against 36 critical illnesses |
| For Savings of RM 44.00 per month, benefits of the scheme are: |
| Critical illnesses | RM 40,000.00 |
| Natural death | RM 40,000.00 |
| Accidental death | RM 80,000.00 |
| Total permanent Disability (due to illness) | RM 40,000.00 |
| Total permanent Disability (due to accident) | RM 80,000.00 |
| Funeral expenses | RM 2,000.00 |
| Hospitalisation - daily income | RM 40.00 |
| HOSPITALISATION BENEFIT You can claim RM40.00 a night if you are hospitalised in any Government or Private Hospital for any illness, for example, headache, stomachache, food poisoning etc., or surgery or accidental injury. This hospitalisation claim will be paid in cash to you even if you have claimed from other insurances. (Maximum claim 500 days or RM20,000) |
| PROJECTED CASH RETURN @ AGE 65 IF YOU SAVE RM40.00 PER MONTH. |
| UMUR MASUK SKIM | TAHUN POLISI | JUMLAH SIMPANAN | (CASH RETURN) WANG TUNAI DIKEMBALIKAN @ UMUR 65 (Accumulated Fund*) | PERATUS % |
|---|---|---|---|---|
| 55 | 10 | RM 4,800.00 | RM 3,552.00 | 74 |
| 50 | 15 | RM 7,200.00 | RM 6,696.00 | 93 |
| 48 | 17 | RM 8,160.00 | RM 8,241.00 | 101 |
| 45 | 20 | RM 9,600.00 | RM11,136.00 | 116 |
| 43 | 22 | RM10,560.00 | RM13,412.00 | 127 |
| 40 | 25 | RM12,000.00 | RM17,520.00 | 146 |
| 38 | 27 | RM12,960.00 | RM20,736.00 | 160 |
| 35 | 30 | RM14,400.00 | RM26,640.00 | 185 |
| 33 | 32 | RM15,360.00 | RM31,334.00 | 204 |
| 30 | 35 | RM16,800.00 | RM39,816.00 | 237 |
| 28 | 27 | RM17,760.00 | RM46,709.00 | 263 |
| 25 | 40 | RM19,200.00 | RM58,752.00 | 306 |
Yours fraternally,
Sdr. Thomas Huo Kok Sen
SECRETARY GENERAL, Sarawak Teachers' Union
| What's so special about this special promotion? No Medical Examination is required. Applicants with existing illnesses e.g. high blood pressure, diabetes, asthma, bronchitis, palpitation etc. or even critical illnesses are acceptable so long as such illnesses are declared in the application form. Members can continue participating in the scheme until Age 65. |
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