Etiqa Life Secure explained: benefits, limits and the fine print

Etiqa Life Secure sits in an unusual spot between a conventional term plan and a whole life policy: it is described by Etiqa as a term life product, but the protection period runs 49 years with premiums payable to age 80, and it accumulates a surrender value if the policyholder gives it up. The figures below come from Etiqa's own published material as retrieved in August 2026; Etiqa can revise its illustrated figures and terms, and the exact numbers you are quoted will depend on your age, sum assured and underwriting.

What the illustrated numbers actually show

Etiqa's own example illustrates the plan at a RM500,000 sum assured for a premium of RM5,179.50 a year. That figure is an illustration at a specific age and sum assured, not a fixed rate that applies to every buyer; your own premium will depend on your age at application, your chosen sum assured, and underwriting. It is a useful reference point for understanding the plan's scale, not a quote.

The core protection

• Lump sum death benefit, illustrated at RM500,000 in Etiqa's example, payable to beneficiaries on death.
• Total and permanent disability (TPD) benefit of the same amount as the death benefit, but only for TPD occurring before the insured's 64th birthday, and subject to an aggregate cap of RM2 million across all of the insured's policies with Etiqa. Anyone holding multiple Etiqa policies should check how much of that RM2 million ceiling is already used by other cover before assuming the full TPD benefit would apply on this plan alone.
• A 49-year protection term, with premiums payable to age 80, which is a considerably longer structure than a typical 10, 20 or 30-year term policy.
• A surrender value, which is unusual for a term-style product and is the feature that most distinguishes Life Secure from a conventional term plan with no cash value at all.

The critical illness feature

Etiqa lists cover for 35 critical illnesses under Life Secure, with the benefit structured as a premium waiver on diagnosis rather than a separate lump sum paid out on top of the death benefit. In practice, this means a diagnosis of one of the 35 listed conditions stops future premiums from being due, keeping the policy in force without further payment, rather than paying an additional cash sum at that point. This is a materially different structure from an accelerated critical illness rider, which pays out from the same sum assured as the death benefit and reduces what is left for a later claim; buyers comparing plans should not assume "critical illness cover" means the same thing across different products.

Why it is often bought for businesses

Etiqa markets Life Secure as commonly used for key-person cover, insuring a business against the loss of an owner or critical employee, and notes that premiums may be tax deductible for the business in that context. Anyone considering this use should confirm the tax treatment with their own accountant or tax adviser, since deductibility depends on how the policy and its ownership are structured, not on the product alone.

What sits in the disclosure sheet, not the product page

Etiqa's product page states the headline structure and an illustrated premium, but the exact surrender value schedule, the conditions attached to the hospital income rider available as an add-on, and the full list of the 35 covered critical illnesses with their medical definitions all sit in the product disclosure sheet and the separate hospital income rider document. Where the product page and the disclosure sheet disagree, the disclosure sheet governs.

What to check before buying

1. How your own age and desired sum assured translate into an actual premium, since Etiqa's RM5,179.50 figure is one illustration, not a universal rate.
2. How much of the RM2 million aggregate TPD cap across your Etiqa policies is already committed elsewhere.
3. The exact conditions covered under the 35 critical illnesses list, and whether premium waiver alone meets your needs compared with a lump-sum CI benefit elsewhere.
4. The surrender value schedule at different policy years, if the cash value feature is part of why you are considering this plan.

Talk to an advisor

A 49-year term with a surrender value and a premium-waiver CI feature is a specific combination that suits some buyers and not others. A licensed advisor can walk through Etiqa's illustration for your own age and sum assured, and compare Life Secure with other term life plans on the portal. Find one through our advisor directory.

Sources

• Etiqa — Etiqa Life Secure product page
• Etiqa — Etiqa Life Secure Product Disclosure Sheet
• MyCoverage — Life Insurance FAQ