It only requires a six-year premium payment commitment.
Allianz Life Insurance Malaysia is launching Allianz MoneyBack, an insurance plan which offers short-term commitment, according to an announcement.
Allianz MoneyBack only requires policyholders to commit to a six-year premium payment to avail life protection coverage for 15 years and a money back guarantee when the policy has matured. Policyholders will receive a Maturity Benefit, a lump sum payment of the total premium paid over the first six years if no claim is made during the 15-year coverage period.
The plan offers death and accidental death benefits for a premium as low as $35 (MYR135) per month, whereby the latter will provide the next of kin with 200% of the insured amount should accidental death occur between the third policy year and before the insured reaches the age of 71.
It also offers a discount when purchasing high coverage. The higher the coverage amount, the larger the discount. The enrolment process only requires clients to answer one health question when purchasing the policy.
Do you know more about this story? Contact us anonymously through this link.