Terms and Conditions


I, hereby declare / agree / undertake the following:

(a) To charge all premiums for this Proposal No./Policy No., as and when due to my “credit card / debit card / bank account” (“Account”) subject to the terms of the policy contract. 

(b) To ensure that my Account has sufficient funds for the execution of the transaction(s)

(c) That the Account details provided are my own and that the details of the Account provided are accurate. 

(d) I understand that the transaction(s) for payment to Gibraltar BSN Life Berhad (“Company”) shall be subject to the acceptance by the Company whereupon I and /or the policy owner shall be informed in writing by the Company of the governing procedures and the verification/authorisation from the issuing bank of the Account. 

(e) To take full responsibility for any transaction(s) arising from the use of the said Account in payment to the Company, 

(f) That I shall immediately notify the Company in writing of changes to the Account number and expiry date as well as any changes to the Account which may affect the payment transaction, 

(g) That either I or the Company may terminate this instruction by giving the other thirty (30) days written notice, and thereafter I shall forward all payments due (if any) directly to the Company, 

(h) That I shall indemnify the Company against all losses, damages, expenses, claims and demands which the Company may incur or sustain by reason or as a result of processing the transaction(s), 

(i) That the Company has the sole discretion to change the date of the recurring billing and/or the premium chargeable as per the terms and conditions of the policy contract. 

(j) That I understand and agree that the Company shall not bill me unnecessarily (for example, in the event my policy lapses, terminates, matures, surrenders, etc). 

That I understand that the Company shall not be held responsible or liable for any claim, loss, damages, cost, interest and expenses arising from the unsuccessful processing of the transactions/debits due to insufficient funds, malfunctions of system, electricity failure and any other factors beyond the control of the Company, including but not limited to the wrongful transactions/debits of my account due to inaccurate information provided to the Company where upon I shall forward premiums due directly to the Company.