Hong Leong Assurance introduces retirement-focused policy

HLA Future Secured offers coverage of up to RM4m.

Hong Leong Assurance (HLA) has introduced HLA Future Secured, a new insurance plan aimed at providing comprehensive retirement protection for Malaysians amidst rising concerns over aging, underinsurance, and long-term health risks.

HLA Future Secured offers coverage of up to $893k (RM4m) for inability to perform Activities of Daily Living (ADLs) from the start of the policy. 

Beginning at age 60, policyholders can draw down up to 70% of the sum assured upon meeting certain conditions, including ICU admission for 10 days, hospitalisation bills of $15,633.1 (RM70,000) or more, or diagnosis of stroke, dementia, or Parkinson’s disease.

Loh Guat Lan, group managing director and CEO of HLA, said the product addresses key concerns of Malaysia’s “sandwich generation,” who are balancing responsibilities for both aging parents and dependent children, alongside personal financial commitments. 

She highlighted the importance of early planning and comprehensive coverage in ensuring long-term financial security.

($1.00 = RM4.47)