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Terms of Business
Polisea Sdn. Bhd. (Company No. 201601041144 (1212085-T)) is incorporated in Malaysia with its registered office at Unit D-3A-06, Menara Suezcap 1, KL Gateway, No. 2 Jalan Kerinchi, Gerbang Kerinchi Lestari, 59200 Kuala Lumpur. We are duly approved and regulated by Bank Negara Malaysia (BNM) under sections 11 and 15 (1) of the Financial Services Act 2013 (“FSA”) to carry out financial advisory and Islamic financial advisory activities.
We are a registered member of the Association of Financial Adviser (“AFA”). We offer general and life insurance, and family and general Takaful intermediary services through our web-based platform and financial adviser representatives.
If you have any queries, please contact us via Whatsapp +60182822320 or email us at customerservice@policystreet.com
We are a registered member of the Association of Financial Adviser (“AFA”). We offer general and life insurance, and family and general Takaful intermediary services through our web-based platform and financial adviser representatives.
If you have any queries, please contact us via Whatsapp +60182822320 or email us at customerservice@policystreet.com
These Terms of Business govern the provision of our services in relation to insurance/Takaful contracts we arrange on your behalf, your use of our website, and any related services we provide. Our duties and obligations herein are, for all material purposes, in due compliance with the "Code of Ethics for the Financial Services Industry" issued by the Financial Services Professional Board. Please read these terms carefully. By using our services, including accessing our website or engaging us for insurance/Takaful services or any other related matter, you acknowledge that you have read, understood, and agree to these Terms of Business as set forth hereunder.
All work carried out by us is subject to these Terms of Business except where changes are expressly agreed in writing by both parties.
We reserve the right to amend these Terms of Business at any time and from time to time. If any provision of these Terms of Business is held to be invalid or unenforceable, the remaining provisions shall continue in full force and effect.
All work carried out by us is subject to these Terms of Business except where changes are expressly agreed in writing by both parties.
We reserve the right to amend these Terms of Business at any time and from time to time. If any provision of these Terms of Business is held to be invalid or unenforceable, the remaining provisions shall continue in full force and effect.
We provide financial advisory and Islamic financial advisory services, which include advice and recommendations on insurance and Takaful products. The advice provided may be general or personalized, depending on your specific circumstances and the information you provide.
If we do not provide advice in a particular situation, we will inform you of this (e.g., before you make a transaction/during the assessment stage).
To assist you in selecting suitable insurance/Takaful policies, we will ask questions to understand your needs and narrow down the available options.
We give advice and make recommendations on insurance and Takaful products. Where we do not provide advice, you will be informed at the outset. We will ask questions to narrow the selection of available policies and their supply details. You will then make your own choice on how to proceed.
It is your responsibility to provide accurate and complete information in response to our questions. You will then make your own decision on whether and how to proceed with the purchase of an insurance/Takaful product.
If we do not provide advice in a particular situation, we will inform you of this (e.g., before you make a transaction/during the assessment stage).
To assist you in selecting suitable insurance/Takaful policies, we will ask questions to understand your needs and narrow down the available options.
We give advice and make recommendations on insurance and Takaful products. Where we do not provide advice, you will be informed at the outset. We will ask questions to narrow the selection of available policies and their supply details. You will then make your own choice on how to proceed.
It is your responsibility to provide accurate and complete information in response to our questions. You will then make your own decision on whether and how to proceed with the purchase of an insurance/Takaful product.
We offer insurance policies/Takaful certificates through our website, www.policystreet.com, from a wide range of insurers and Takaful operators.
We act as your financial adviser and Islamic financial adviser in placing contracts on insurance/Takaful with an insurer/Takaful operators. However, please refer to the section on conflict of duties below. We are not the insurer/Takaful operator, and we do not guarantee the availability of any insurance policy/Takaful certificate or the solvency of any insurer.
All insurance policies/Takaful certificates described on our website or placed by us on your behalf are subject to the terms and conditions of any applicable agreements with the insurer.The information provided on our website is for general guidance only and does not constitute a substitute for professional advice or the policy documents. If you have any questions, please contact us at customerservice@policystreet.com or seek assistance directly from the insurer/Takaful operator.
We act as your financial adviser and Islamic financial adviser in placing contracts on insurance/Takaful with an insurer/Takaful operators. However, please refer to the section on conflict of duties below. We are not the insurer/Takaful operator, and we do not guarantee the availability of any insurance policy/Takaful certificate or the solvency of any insurer.
All insurance policies/Takaful certificates described on our website or placed by us on your behalf are subject to the terms and conditions of any applicable agreements with the insurer.The information provided on our website is for general guidance only and does not constitute a substitute for professional advice or the policy documents. If you have any questions, please contact us at customerservice@policystreet.com or seek assistance directly from the insurer/Takaful operator.
The information on our website is directed at Malaysian residents. Insurance policies/Takaful certificates accessed through our website should only be bought by Malaysian residents.
All quotations are given based on "utmost good faith".
You must act with utmost good faith toward the insurer and comply with your statutory pre-contractual duties of disclosure under the FSA by ensuring that you provide the insurer with honest and accurate information at all times. This obligation applies when you apply for the policy and continues throughout the duration of the policy and any renewal thereof.
The insurer may require you to answer any specific questions relevant to the insurer's determination as to whether to accept the risk entailed by the issuance of any policy to you as the insured and the rates and terms to be applied in connection thereof. The insurer may pose such specific questions before the renewal of any policy previously issued to you or request you to confirm information which you previously provided or update them if necessary. Insurers must be presented with a fair and complete statement of the nature of any risk submitted to them. You are required to take reasonable care not to make any misrepresentation to the insurer when answering any question posed to you in relation to the issuance of any policy. If you do not provide complete and accurate information containing all material facts and circumstances, then your policy may not be valid in the event of a claim, or a higher premium may be payable.
You are obliged to take reasonable care to disclose to the insurer any matter, other than those relating to the questions posed to you by the insurer, that you know is of material relevance to the decision of the insurer as to whether to accept the commercial risk of issuing a policy to you as well as its determination as to the policy terms and applicable rates thereof. In other words, a circumstance is material if it would influence the judgment of a prudent insurer in calculating the premium or assessing whether they would accept the risk. Accordingly, you must provide all the material facts within such a submission and update this information where relevant between the initial enquiry and attachment of any cover and during any policy term. This applies equally to new orders, adjustments, renewals, cover extensions, endorsements and claims.
For certain business classes, you may be required to complete a proposal form or questionnaire as requested by the respective insurer/Takaful operator. We will be happy to provide guidance concerning the comprehension of such a document. However, we are not able to complete it on your behalf. You must satisfy yourself with the contents of the proposal form or questionnaire. Please note that providing material information to insurers is an overriding obligation. Where insurers do not request specific information within a proposal form or questionnaire, this does not mean such information is not material. If you are in doubt as to whether the information is material, please contact us.
In this connection, you should note that any quotation issued by us is based on information you provided concerning matters such as your age, gender, lifestyle, health conditions and financial situation. Any failure on your part to duly comply with your pre-contractual duties of disclosure may result in our quotation being subject to subsequent changes and/or the invalidation of your policy or the imposition of higher premium charges as mentioned above.
Given the consequences of any misrepresentation on your part, we advise that you carefully and diligently answer any question posed to you by the insurer. In any event, we shall not be held liable or deemed responsible for any loss or damage, howsoever arising, directly or indirectly, from any misrepresentation made by you and the resulting cancellation of your policy or the revision of the terms thereof.
We are obliged to ensure that any statement we make is not misleading, false or deceptive, whether fraudulently or otherwise. In addition, we are prohibited from fraudulently concealing any material fact. Therefore, you represent to us that all information that you are furnishing or have furnished to us is not in any way misleading, false or deceptive, whether fraudulently or otherwise and that you are not fraudulently concealing any material fact.
You must act with utmost good faith toward the insurer and comply with your statutory pre-contractual duties of disclosure under the FSA by ensuring that you provide the insurer with honest and accurate information at all times. This obligation applies when you apply for the policy and continues throughout the duration of the policy and any renewal thereof.
The insurer may require you to answer any specific questions relevant to the insurer's determination as to whether to accept the risk entailed by the issuance of any policy to you as the insured and the rates and terms to be applied in connection thereof. The insurer may pose such specific questions before the renewal of any policy previously issued to you or request you to confirm information which you previously provided or update them if necessary. Insurers must be presented with a fair and complete statement of the nature of any risk submitted to them. You are required to take reasonable care not to make any misrepresentation to the insurer when answering any question posed to you in relation to the issuance of any policy. If you do not provide complete and accurate information containing all material facts and circumstances, then your policy may not be valid in the event of a claim, or a higher premium may be payable.
You are obliged to take reasonable care to disclose to the insurer any matter, other than those relating to the questions posed to you by the insurer, that you know is of material relevance to the decision of the insurer as to whether to accept the commercial risk of issuing a policy to you as well as its determination as to the policy terms and applicable rates thereof. In other words, a circumstance is material if it would influence the judgment of a prudent insurer in calculating the premium or assessing whether they would accept the risk. Accordingly, you must provide all the material facts within such a submission and update this information where relevant between the initial enquiry and attachment of any cover and during any policy term. This applies equally to new orders, adjustments, renewals, cover extensions, endorsements and claims.
For certain business classes, you may be required to complete a proposal form or questionnaire as requested by the respective insurer/Takaful operator. We will be happy to provide guidance concerning the comprehension of such a document. However, we are not able to complete it on your behalf. You must satisfy yourself with the contents of the proposal form or questionnaire. Please note that providing material information to insurers is an overriding obligation. Where insurers do not request specific information within a proposal form or questionnaire, this does not mean such information is not material. If you are in doubt as to whether the information is material, please contact us.
In this connection, you should note that any quotation issued by us is based on information you provided concerning matters such as your age, gender, lifestyle, health conditions and financial situation. Any failure on your part to duly comply with your pre-contractual duties of disclosure may result in our quotation being subject to subsequent changes and/or the invalidation of your policy or the imposition of higher premium charges as mentioned above.
Given the consequences of any misrepresentation on your part, we advise that you carefully and diligently answer any question posed to you by the insurer. In any event, we shall not be held liable or deemed responsible for any loss or damage, howsoever arising, directly or indirectly, from any misrepresentation made by you and the resulting cancellation of your policy or the revision of the terms thereof.
We are obliged to ensure that any statement we make is not misleading, false or deceptive, whether fraudulently or otherwise. In addition, we are prohibited from fraudulently concealing any material fact. Therefore, you represent to us that all information that you are furnishing or have furnished to us is not in any way misleading, false or deceptive, whether fraudulently or otherwise and that you are not fraudulently concealing any material fact.
We are required to take all reasonable steps to establish our clients' true and full identity to comply with our obligations as a reporting institution under the applicable anti-money laundering and anti-terrorist financing legislation. We shall inform you of your client's details and documents that we shall require you to provide us.
Your information will be handled securely and in accordance with our Privacy Policy.
Your information will be handled securely and in accordance with our Privacy Policy.
Before assisting you with any non-motor, individual and corporate (employee benefits and commercial) policy or recommending any policy to you, we ask you to provide certain information so that we can conduct an analysis of your needs and provide you with a reasoned recommendation as to the level of coverage that is appropriate for you. If you opt not to provide such information to us, preventing us from conducting a needs analysis, we may contact you by email or telephone to discuss your choice with you.
We shall arrange for the insurance policy/Takaful certificate, a certificate of insurance/Takaful and, if applicable, any placing slip of cover note to be issued to you as soon as is practicable, where an insurer has approved issuing a policy to you.
You must retain copies of all policy documentation as this will be required to administer your policy and process any claims.
You must retain copies of all policy documentation as this will be required to administer your policy and process any claims.
With regard to most insurance policies/Takaful certificates, the availability of any cooling-off period would depend on the terms and conditions of the relevant product or service. You should note that the availability of the cooling period and duration are governed by the terms and conditions of your insurance policy/Takaful certificate as determined by the insurer. Accordingly, we advise that you take note of this issue by properly perusing the terms and conditions in the insurance policy/Takaful certificate before purchasing it.
For any motor insurance policy purchased through our platform, should you be not satisfied with your policy within the applicable 7 cooling-off days and require a refund, kindly reach out to customerservice@policystreet.com, and our friendly Customer Service team will assist you with the next steps.
For any motor insurance policy purchased through our platform, should you be not satisfied with your policy within the applicable 7 cooling-off days and require a refund, kindly reach out to customerservice@policystreet.com, and our friendly Customer Service team will assist you with the next steps.
We may contact you prior to the expiry of any policy to consider whether you wish to renew and to notify you of the then-current premium for such policy and any changes that have been made to the policy terms. If the insurer no longer offers such a policy or you have ceased to be eligible for such a policy, we may introduce to you other policies that may be of interest from that insurer and/or from other insurers.
You must notify us immediately in writing of any claim or circumstance likely to give rise to a claim. Failure to notify us within the applicable timescales detailed in your insurance policy/Takaful certificate may entitle your insurer to deny coverage with respect to your claim. In the event that we handle a claim on your behalf, we will do so fairly and with reasonable promptness.
We recommend contacting us via Whatsapp at +60182822320 or email us at customerservice@policystreet.com before seeking to cancel any policy.
We will inform you of the cost of your insurance policies/Takaful certificates and our charges prior to the conclusion of the contract or before you become liable to pay them, whichever comes first. Where we do not know them in advance, we will tell you how they will be calculated.
You agree to pay all premiums inclusive of any premium payment tax, government levy or similar tax, duty or stamp in full before the due date stipulated for the applicable policy, renewal or endorsement.
Premiums for policies are immediately payable in full on their specified due date (or on their monthly due date for premiums specified to be payable monthly).
Premiums for motor insurance policies/Takaful certificates are, unless otherwise specified, directly payable to us using payment options available through our website.
Premiums for non-motor, individual and corporate (employee benefits and commercial) policies are, unless otherwise specified, directly payable by direct debit to us.
We will not accept payment by any other method unless mutually agreed upon by you and us.
No policy is issued until the insurer notifies you that they have issued a policy to you. If the insurer declines to accept your application, any premium refund will, where possible, be refunded to the same card or payment method that made the payment.
We shall ensure that the pricing, terms of policy and other information on our website in respect of policies are accurate, reliable, and up to date. However, we do not guarantee their accuracy, completeness, or reliability. The actual premium payable in respect of a policy and the terms of a policy and other information shall be such premium, terms, and other information as the applicable insurer notifies you when they accept your application.
In the event that there is a discrepancy between the information posted on our website and the premium net of any discounts or offers provided by us, policy terms and other information that the insurer notifies you except for, then provided that you notify us of the same within 7 days (the "Cancellation Period"), we shall at your request arrange for the insurer to cancel your policy and refund your premium. If you do not cancel the policy, any additional premium specified by the insurer is payable. We shall notify you of the amount and method of such payment, and you shall pay the additional premium within the specified timeframe.
We will notify you of the method for payment of endorsements or renewals and the due dates.
If any policies contain premium payment warranties or conditions, we will notify you, explain how to comply with them, and tell you when to do so. Failure to comply with a premium payment warranty or condition could lead to the insurer cancelling your policy.
Any insurance premium/Takaful contribution payment tax, government levy, or similar tax, duty, or stamp shall be payable in addition to your premium. We will notify you in advance if this is applicable.
You agree to pay all premiums inclusive of any premium payment tax, government levy or similar tax, duty or stamp in full before the due date stipulated for the applicable policy, renewal or endorsement.
Premiums for policies are immediately payable in full on their specified due date (or on their monthly due date for premiums specified to be payable monthly).
Premiums for motor insurance policies/Takaful certificates are, unless otherwise specified, directly payable to us using payment options available through our website.
Premiums for non-motor, individual and corporate (employee benefits and commercial) policies are, unless otherwise specified, directly payable by direct debit to us.
We will not accept payment by any other method unless mutually agreed upon by you and us.
No policy is issued until the insurer notifies you that they have issued a policy to you. If the insurer declines to accept your application, any premium refund will, where possible, be refunded to the same card or payment method that made the payment.
We shall ensure that the pricing, terms of policy and other information on our website in respect of policies are accurate, reliable, and up to date. However, we do not guarantee their accuracy, completeness, or reliability. The actual premium payable in respect of a policy and the terms of a policy and other information shall be such premium, terms, and other information as the applicable insurer notifies you when they accept your application.
In the event that there is a discrepancy between the information posted on our website and the premium net of any discounts or offers provided by us, policy terms and other information that the insurer notifies you except for, then provided that you notify us of the same within 7 days (the "Cancellation Period"), we shall at your request arrange for the insurer to cancel your policy and refund your premium. If you do not cancel the policy, any additional premium specified by the insurer is payable. We shall notify you of the amount and method of such payment, and you shall pay the additional premium within the specified timeframe.
We will notify you of the method for payment of endorsements or renewals and the due dates.
If any policies contain premium payment warranties or conditions, we will notify you, explain how to comply with them, and tell you when to do so. Failure to comply with a premium payment warranty or condition could lead to the insurer cancelling your policy.
Any insurance premium/Takaful contribution payment tax, government levy, or similar tax, duty, or stamp shall be payable in addition to your premium. We will notify you in advance if this is applicable.
In accordance with section 125(1) of the FSA, we will hold any money received from you or on your behalf in our segregated client account with a bank in Malaysia. This money will be kept separate from our operating funds account.
In certain circumstances, where we have a risk transfer terms of business agreement with an insurer, the premiums, claims payments, and refunds may be held by us as an agent of the insurer, and such funds will not constitute client monies.
As section 125(3) of the FSA provides that any money received from you or on your behalf shall be held on trust for your benefit, the interest accrued on such monies will be deemed as part of the trust in accordance with the norms applicable to the subject matter of trusts under the law.
In certain circumstances, where we have a risk transfer terms of business agreement with an insurer, the premiums, claims payments, and refunds may be held by us as an agent of the insurer, and such funds will not constitute client monies.
As section 125(3) of the FSA provides that any money received from you or on your behalf shall be held on trust for your benefit, the interest accrued on such monies will be deemed as part of the trust in accordance with the norms applicable to the subject matter of trusts under the law.
We are remunerated for our services by receiving commissions paid by insurers. Your agreement to proceed with this insurance/Takaful transaction constitutes your consent to our receipt of commission.
Our total liability to you shall be limited to the commission we receive on the policy you have placed through us.
We accept no liability (whether in tort (including negligence), contract, statute or otherwise) for any indirect, special or consequential loss or damage arising from or in connection with the services.
This does not affect our liability for death or personal injury arising from our negligence, our liability for fraud, or any other liability that cannot be excluded or limited under applicable law.
You agree that any claims shall only be brought against Polisea Sdn. Bhd. and no claim shall be brought against its employees, directors or officers.
We accept no liability (whether in tort (including negligence), contract, statute or otherwise) for any indirect, special or consequential loss or damage arising from or in connection with the services.
This does not affect our liability for death or personal injury arising from our negligence, our liability for fraud, or any other liability that cannot be excluded or limited under applicable law.
You agree that any claims shall only be brought against Polisea Sdn. Bhd. and no claim shall be brought against its employees, directors or officers.
We shall treat all information you pass to us as private and confidential and will only disclose such information to negotiate, maintain, or renew the insurance/Takaful we have been instructed to place unless you have consented otherwise.
Disclosure may also be made to our external auditor and regulator to fulfil their regulatory functions or where we are otherwise legally obliged to disclose the information.
Each of us shall comply with the Personal Data Protection Act 2010. A copy of our Privacy Policy is available here Privacy Policy.
Disclosure may also be made to our external auditor and regulator to fulfil their regulatory functions or where we are otherwise legally obliged to disclose the information.
Each of us shall comply with the Personal Data Protection Act 2010. A copy of our Privacy Policy is available here Privacy Policy.
These Terms of Business and any dispute or claim arising out of or in connection with them or their subject matter or formation (including non-contractual disputes or claims) shall be governed by and construed in accordance with the law of Malaysia.
The Malaysian courts will have exclusive jurisdiction over any claim arising from or related to a visit to our website. However, we retain the right to bring proceedings against you for breach of these conditions in your country of residence or any other relevant country.
The Malaysian courts will have exclusive jurisdiction over any claim arising from or related to a visit to our website. However, we retain the right to bring proceedings against you for breach of these conditions in your country of residence or any other relevant country.
Our complaints procedure is available on request. All complaints should be addressed to our contact details in the Information About Us section of these Terms of Business.
If we are unable to settle your complaint with us, you may be entitled to refer it to:
Ombudsman for Financial Services
Level 14, Main Block
Menara Takaful Malaysia
No. 4, Jalan Sultan Sulaiman
50000 Kuala Lumpur
Tel : +603-2272 2811
Fax : +603-2272 1577
If we are unable to settle your complaint with us, you may be entitled to refer it to:
Ombudsman for Financial Services
Level 14, Main Block
Menara Takaful Malaysia
No. 4, Jalan Sultan Sulaiman
50000 Kuala Lumpur
Tel : +603-2272 2811
Fax : +603-2272 1577
The benefit(s) payable under eligible certificate/policy/product is(are) protected by PIDM up to limits. Please refer to PIDM’s TIPS Brochure or contact Allianz General Insurance Company (Malaysia) Berhad or PIDM (visit www.pidm.gov.my).
Payment Methods:
Banks for EPP (3/6/12 months):
