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Home » Terms & Conditions – Micro Lifestyle Insurance

HELLOGOLD SMARTSAVER MICRO LIFESTYLE INSURANCE
TERMS AND CONDITIONS

  1. OVERVIEW
    1. From 21 July 2021, the HelloGold Micro Lifestyle Insurance shall be offered as an additional product.
    2. The HelloGold Micro Lifestyle Insurance is an additional product offered as part of the HelloGold SmartSaver account designed not only to help you save but also to help you achieve your long-term savings goals.
  2. ELIGIBILITY
    1. The HelloGold Micro Lifestyle Insurance is available to all HelloGold SmartSaver customers who are citizens of Malaysia and between the ages of 18 to 40 years.
    2. In order to subscribe to the HelloGold Micro Lifestyle Insurance:
      1. customers will be required to open a HelloGold SmartSaver account with a Micro Lifestyle Insurance goal, which is separate to their existing main HelloGold account and separate to any other SmartSaver goals; and
      2. the customer must contribute a minimum of RM30 per month to their HelloGold SmartSaver Micro Lifestyle Insurance goal.
  3. HELLOGOLD MICRO LIFESTYLE INSURANCE MECHANICS
    1. The customer must contribute a fixed amount of RM3 towards the HelloGold SmartSaver Micro Lifestyle Insurance premium.
    2. This premium will be in addition to the customer’s monthly HelloGold SmarSaver Micro Lifestyle Insurance contributions.
    3. In the event the customer fails to fund their monthly HelloGold SmartSaver Micro Lifestyle Insurance contributions and premium, the customer’s HelloGold SmartSaver Micro Lifestyle Insurance goal shall be automatically terminated.
    4. In the event of a termination as a result of clause 3.3, any balance in the customer’s HelloGold SmartSaver Micro Lifestyle Insurance account shall be transferred to the customer’s main HelloGold account.
  4. GENERAL HELLOGOLD SMARTSAVER MECHANICS
    1. For customers to achieve their savings goals, the HelloGold SmartSaver accounts are to be held for a period 12 months (Term) and may be extended at the end of this Term.
    2. Gold purchased for the HelloGold SmartSaver account will be purchased based on the lowest price of the day on which the transaction was made (excluding weekends & market closure days).
    3. Gold will be deposited into the HelloGold SmartSaver account the day after the transaction was made.
    4. In order to withdraw the gold from the HelloGold SmartSaver account, the HelloGold SmartSaver customer must first exit the HelloGold SmartSaver account by closing the HelloGold SmartSaver account. Once the account is closed, the customer’s gold in the HelloGold SmartSaver account shall be transferred to the customer’s main HelloGold account. The customer is unable to withdraw the gold directly from the HelloGold SmartSaver account.
    5. Should the customer wish to, the HelloGold SmartSaver customer is able to close the HelloGold SmartSaver account before the completion of the Term. If the account is closed prior to the completion of the Term, the funds in your HelloGold SmartSaver account will be utilised to purchase gold up to the end of the monthly cycle in which the closure occurred. The account will only be closed and the gold will be transferred to the Customer’s main HelloGold account after the completion of the monthly cycle corresponding to the month the HelloGold SmartSaver was terminated.
    6. After achieving their HelloGold SmartSaver’s goal, the gold in the customer’s HelloGold SmartSaver account will be transferred to the customer’s main HelloGold account.
  5. AGENCY
    1. The HelloGold SmartSaver Micro Lifestyle Insurance customer agrees to appoint HelloGold to act on the customer’s behalf as the customer’s agent to conduct the daily activity of purchasing gold from HelloGold.
    2. The customer authorises HelloGold as the customer’s agent to purchase gold based on the lowest price of the day on which the transaction is made (excluding weekends & market closure days) for the Term or as long as the HelloGold SmartSaver Micro Lifestyle Insurance account is open.
  6. VARIATION OF TERMS & CONDITIONS
    1. HelloGold Sdn Bhd (HelloGold) reserves the right to vary or amend these Terms and Conditions, the mechanics or processes of HelloGold SmartSaver Micro Lifestyle Insurance product at any time by giving the customer written notice of such withdrawal, which notice, if posted to the customer’s main HelloGold account or email address, shall be deemed to have been received by the customer on the day it was posted.
  7. WITHDRAWAL OF HELLOGOLD SMARTSAVER PRODUCT
    1. HelloGold reserves the right to withdraw the HelloGold SmartSaver Micro Lifestyle Insurance product at any time by giving the customer written notice of such withdrawal, which notice, if posted to the customer’s HelloGold Account or email address, shall be deemed to have been received by the customer on the day it was posted.
    2. The withdrawal of either the HelloGold SmartSaver Micro Lifestyle Insurance product or the general HelloGold SmartSaver account will not affect existing HelloGold SmartSaver Micro Lifestyle Insurance customers. Existing HelloGold SmartSaver Micro Lifestyle Insurance customers shall continue to be able to save towards their established goals for the duration of the registered Term. Once that goal is reached, any gold in the HelloGold SmartSaver Micro Lifestyle Insurance account will be transferred to the customer’s main HelloGold account.
  8. OTHER TERMS AND CONDITIONS – THE MAIN HELLOGOLD ACCOUNT AND GENERAL HELLOGOLD SMARTSAVER ACCOUNT
    1. To the extent that there is no conflict, the terms and conditions of the general HelloGold SmartSaver and main HelloGold account, to which the customer has agreed and accepted, also applies to the operation of the HelloGold SmartSaver Micro Lifestyle Insurance account.