Malaysia Deposit Insurance Corporation Act 2011 s 84
s 84 Determining the obligatory payment for family takaful certificates and life policies
(1) Subject to subsection (2), if, within three months from the date of the winding up order, the Corporation receives a claim from a takaful beneficiary or insured person stating that a family takaful or life policy risk event occurred prior to the date of the winding up order in respect of which payment has not been made by or on behalf of the insurer member, the amount of the obligatory payment in respect of a protected benefit shall be calculated based on the obligation of the insurer member that arose upon the occurrence of that risk event.
(2) Such obligatory payment shall be subject to—
(a) receipt by the Corporation of the claim within three months as stipulated in subsection (1) in such manner and with such supporting documentation as specified by the Corporation;
(b) proof, to the reasonable satisfaction of the Corporation, that the risk event occurred prior to the date of the winding up order, if in the opinion of the Corporation the supporting documentation referred to in paragraph (a) is not adequate; and
(c) the validity of the claim.
(3) If any of the conditions stipulated in subsections (1) and (2) is not fulfilled, the amount of the obligatory payment shall be based on the value of that family takaful certificate or value of that life policy in respect of the family takaful certificate or life policy.
(4) Where a certificate owner or policy owner surrenders his family takaful certificate or life policy prior to the date of the winding up order, the amount of the obligatory payment shall be based on the surrender value of the family takaful certificate or life policy at the time of surrender.
(5) Any decision made by the Corporation relating to the person entitled to a payment or the amount to be paid in respect of a protected benefit shall be final and binding.
Malay text (authoritative)
Penentuan bayaran wajib bagi sijil takaful keluarga dan polisi hayat
(1) Tertakluk pada subseksyen (2), jika, dalam tempoh tiga bulan
dari tarikh perintah penggulungan, Perbadanan menerima suatu tuntutan daripada seseorang benefisiari takaful atau orang diinsuranskan yang menyatakan bahawa suatu risiko kejadian di bawah takaful keluarga atau polisi hayat telah berlaku sebelum tarikh perintah penggulungan yang berkenaan dengannya bayaran belum dibuat oleh atau bagi pihak anggota penanggung insurans, amaun bayaran wajib berkenaan dengan suatu manfaat dilindungi hendaklah dikira berdasarkan kewajipan anggota penanggung insurans itu yang timbul apabila risiko kejadian itu berlaku.
(2) Bayaran wajib itu hendaklah tertakluk pada—
(a) penerimaan tuntutan itu oleh Perbadanan dalam tempoh tiga bulan sebagaimana yang dinyatakan dalam subseksyen (1) mengikut apa-apa cara dan dengan apa-apa dokumentasi sokongan sebagaimana yang ditentukan oleh Perbadanan;
(b) bukti, sehingga dengan semunasabahnya memuaskan hati Perbadanan, bahawa risiko kejadian itu berlaku sebelum tarikh perintah penggulungan, jika Perbadanan berpendapat bahawa dokumentasi sokongan yang disebut dalam perenggan (a) tidaklah mencukupi; dan
(c) kesahan tuntutan itu.
(3) Jika mana-mana syarat yang dinyatakan dalam subseksyen (1) dan (2) tidak dipenuhi, amaun bayaran wajib hendaklah berdasarkan kepada nilai sijil takaful keluarga itu atau nilai polisi hayat itu berkenaan dengan sijil takaful keluarga atau polisi hayat.
(4) Jika pemunya sijil atau pemunya polisi menyerahkan sijil takaful keluarga atau polisi hayatnya sebelum tarikh perintah penggulungan, amaun bayaran wajib hendaklah dikira berdasarkan nilai serahan sijil takaful keluarga atau polisi hayat itu pada masa serahan.
(5) Apa-apa keputusan yang dibuat oleh Perbadanan yang berhubungan dengan orang yang berhak kepada suatu bayaran atau
amaun yang hendaklah dibayar berkenaan dengan suatu manfaat dilindungi adalah muktamad dan mengikat.
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Find Act 720 on lom.agc.gov.my ↗
Text as at 21 July 2023 (LOM reprint); amendments made after that date may not be incorporated.
Source: Laws of Malaysia, Attorney General's Chambers of Malaysia (lom.agc.gov.my). Not a copy of the Gazette printed by the Government Printer (Interpretation Acts 1948 and 1967, s 61).
