FAQ | LPPSA

Can the applicant choose (conventional) insurance coverage for the Islamic Public Sector Housing Financing Scheme (SPPSAi)?

No. Applicants who take SPPSAi financing are required to take takaful coverage while applicants who take Public Sector Housing Financing Scheme (SPPSA) financing are required to take out insurance coverage (conventional).

Is the applicant required to use the Financing Executive (FE) service?

Financing Executive Services or FE is optional and it is not obligatory for applicants to use the services.

Are borrowers allowed to change insurance / takaful panels after financing approval is made?

No. Borrowers are not allowed to change the insurance / takaful panel after the financing approval is made.

What is the scope of coverage covered by the Mortgage Reducing Term Assurance/Takaful (MRTA/MRTT) policy/certificate?

The scope of protection covered by the Mortgage policy based on the financing approval date is as follows:

1. Before August 1, 1995
a. Dead

2. August 1, 1995 – December 31, 2017
a. Dead
b. Permanent and thorough disability

3. 1 January 2018 – 29 February 2020
a. Dead
b. Permanent and thorough disability
c. Critical illness

4. 1 March 2020 – 31 December 2023
a. Dead
b. Permanent and thorough disability

How customers can obtain a copy of insurance policy/takaful certificate

Customers can obtain a copy of insurance policy/takaful certificate by directly requesting it from the selected insurane/takaful panel.

How do customers claim LTHO policy compensation for fire / flood / disaster cases?

Compensation claims must be submitted directly to the selected insurance / takaful panel.