Synagy Finance
Frequently Asked Questions
Below, you will find answers pertaining the most commonly asked questions about our services.
Medical Plan
A comprehensive plan which take cares of you and your family’s long term medical needs till age 100. It provides hospitalisation and surgical expenses with no lifetime limit.
Who is eligible to purchase a medical plan?
The plan is available for individuals aged between 14 days and 70 years old.
What is the coverage for family members in a plan?
All family members under the family plan will enjoy individual benefit limit of the same plan.
Are the premiums paid eligible for income tax relief?
Yes. The premium paid for these plans may qualify you for a personal tax relief of up to RM3,000 for medical and education insurance, subject to the final decision of the Inland Revenue Board of Malaysia.
Life Protection Plan
A plan which is regular premium insurance plan which covers death and total permanent disability (TPD). It offers high protection with a minimum sum assured of RM500,000. It provides easy and flexible payment terms, coverage terms, early withdrawal and top ups for investment amount. In the event of unforeseen circumstances, this plan can provide for your family members’ and maintain their current lifestyles.
Who is eligible to purchase a life protection plan?
The plan is available to indoviduals aged between 18 and 70 years old.
What is the maximum coverage period for this plan?
The plan covers up to age 100.
Are the premiums paid eligible for income tax relief?
Yes. The premium paid for these plans may qualify you for a personal tax relief for for annual life insurance premium and EPF, subject to the final decision of the Inland Revenue Board of Malaysia.
Critical Illness Plan
This is to provide living benefit to cease the burden of ourselves and our family members in the event of a diagnosis of a critical illness.
Who is eligible to purchase a life protection plan?
The plan is available to indoviduals aged between 14 days and 60 years old.
Does the plan cover early stages of critical illnesses?
Yes. There is a plan to cover early stages of critical illnesses.
Are the premiums paid eligible for income tax relief?
Yes. The premium paid for this plan may qualify you for a personal tax relief of up to RM3,000 for medical and education insurance, subject to the final decision of the Inland Revenue Board of Malaysia
Personal Accident Plan
A comprehensive accident plan that provides you coverage against the occurrence of accidents.
Who is eligible to purchase a life protection plan?
The plan is available to indoviduals aged between 14 days and 70 years old.
What does this plan cover?
It covers death and dismemberment due to accidents.
Does this plan cover dengue?
There is a plan that covers death due to the dengue viral fever
Retirement Plan
Personal planning is important because it is the determining factor of your satisfaction with the quality of your retirement lifestyle.
Why do we need to plan for our retirement?
Retirement is an important reality for everyone. Most young adults think retirement is a long way away. However, it is important to plan for your life post-retirement if you wish to retain your financial independence and maintain a comfortable standard of living when you are no longer earning an income.
How should I start saving for retirement?
Depending on how much you have and what your goals are, you might want to consider different account types or investment vehicles
You may start with small amount of investments and increase it over a period of time.
What are the best investment options for retirement?
There are many investment tools in town and one of the best options can be the Cash-Value Life Insurance Plan.
Estate Planning
Estate planning is the process of anticipating and arranging the management and disposal of a person’s estate according to the wish of that person after death.
Why should we do estate planning?
The primary purpose of an estate plan is to help you examine your financial needs and assets in order to make sure that your heirs are provided for in the best possible way, including lifetime planning as well as disposition of property at death.
Why estate planning is important
Estate planning prevents wealth from going to unintended beneficiaries, protects families with young children and eliminates family messes when you are gone.
What are the basic documents used for estate planning?
The basic documents used is the Will and Trust.
Housing Loan
We serve as one of the sales agencies in assisting them with the application of housing loans. It can be for the purchase of a new property through a developer, sub-sale and refinancing of an existing property.
How many types of interest rates are there in a housing loan?
There are 2 types of interest rates: floating rate and fixed rate
Where can I apply for a housing loan?
A person may apply for a housing loan from banks or non-bank credit companies that have a housing loan facility.
What is the minimum age to apply for a housing loan?
The minimum age to apply for a housing loan starts from 18 years old and above, subject to income eligibility
Debt Consolidation – Housing Loan
Debt consolidation is a form of debt refinancing that entails taking out one loan to pay off many others. 
Who is the best person to apply?
The person who owns a property and with the intention to settle other debts.
Why should we do debt consolidation?
Debt consolidation enables one to reduce their monthly commitments and pay off their high interest loans.
Can I still consolidate my debt if I don't own a property?
Yes. You may seek permission from your parent or sibling on their property.
Home Refinancing
Refinancing is actually a process of taking your existing housing loan and transferring it to other banks OR For a property that is fully paid off, it is the process in applying for a new housing loan with the the current bank or a new bank.
Why should I do refinancing?
Expensive Interest Rates – If you had the existing housing loan for a long time and have not recently adjusted your interest rates
Need Additional Cash – Need additional cash for business use
House Renovation – renovation is one of the most common reason people refinance, for extending their house or refurnishing
Children Education- Children Education fees can sometimes be an unexpected expenditure for the family.
Medical Fees – Medical treatments can be absolutely pricey and without sufficent insurance coverage, we would need to resort to getting extra funds.
What are the fees incurred when refinancing a property?
Common fees will be: legal fee, stamp duty, valuation report fee, disbursement fee and mortgage insurance fee.
How often can I do refinancing?
As long as the property value has increased over time, it is eligible for refinancing.
Group Insurance

Group insurance is an insurance that covers a defined group of people, for example the members of a society or professional association, or the employees of a particular employer.

Group insurance may offer life insurance, health insurance, and/or some other types of personal insurance.

Who is eligible for coverage?
All full time and active-at-work employees (below 65 years old), are eligible for medical and group term life coverage.
Can group insurance include the spouse and children of an employee?
Yes.
What is the coverage for group insurance?
The coverages are hospitalisation, out patient-clinic treatments, term life, critical illness and personal accidents.
Business Loan
Businesses require an adequate amount of working capital to fund expenses or pay for expansions. As such, companies take out business loans to gain the financial assistance they need.
How do I get a business loan?
Identify the loan amount needed.
Choose a type of business loan based on your needs.
Get the relevant documents ready for application.
Can I get a business loan without collateral?
Yes, although you would need to look at a few banks. Some banks can offer business loans without the need for collateral.
Why do so many business owners get their business loans rejected?
This is mostly due to a lack of proper and complete documents
Partners Protection
Partners Protection planning is to protect the business and enable business to continue as usual while any of one of partners suffer from sickness or death.
Why do we require partners protection?
This is to ensure that each partner knows the direction and next action and how the partnership shares distribution upon sickness or death of any of the partners.
What are the documents involved in partners protection planning?
The common documents required will be the Partnership agreement or buy sell agreement
to spell out the terms & conditions of the business relationship, profit, share or buyout etc.
How is the value of the business determined?
There are some ways to determine the business value and one of it will be sales/turnover of the business.
Keyman Insurance
Keyman insurance is simply life insurance on the key people in a business. This is usually the owner, founders, CEO, COO, CFO, Chairman or any key employees. These are usually the people who are crucial to a business, in which their presence is crucial for the business and its operations. In many cases, Keyman insurance can be considered a necessity for many businesses.
Why do we require Keyman Insurance?
The reason this coverage is important is because the death of a key person in a company can in turn cause the immediate death of that company. The purpose of keyman insurance is to help the company survive the blow of losing the key person in the business.
How does this benefit a company?
Keyman insurance covers the operational costs (either fixed or variable) in order for company to continue its business operations.
What are the coverages available for Keyman Insurance?
Keyman insurance covers life, total & permanent disability, critical illness and accidents.

Contact us today for free consultation!

+603 2618 6960

Cap Square Tower
Suite 33-06, Level 33,
10 Jalan Munshi Abdullah,
50100, Kuala Lumpur

T: +603 2618 6960
F: +603 2618 6961

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