Allianz Life Malaysia launches new investment and health products
These products aim to provide financial stability for the firm's customers.
Allianz Life Insurance Malaysia Berhad has launched a new investment-linked plan (ILP) Allianz UltimateLink and a medical rider plan HealthInsured.
The Allianz UltimateLink is a regular premium ILP that has a wide range of mix-and-match optional benefits under one plan that also comes with comprehensive life coverage. The ILP comes with a Conditional In-Force Guarantee meaning that the policy will not lapse due to insufficient units to pay for all the policy charges during the first six years.
Meanwhile, HealthInsured is a guaranteed, renewable unit deducting Hospitalisation and Surgical (H&S) rider plan that provides a high overall annual limit of up to $1.18m for comprehensive medical coverage including cancer, emergency accident as well as COVID-19. In addition, early birds whose policies are submitted during the launch campaign period – 16 March 2022 until 30 April 2022 – will enjoy a guaranteed rate for Cost of Insurance (COI) for the first five years.
HealthInsured consists of four plans which offer different levels of benefits, namely Plan 150, Plan 200, Plan 300, and Plan 500. Plan 200 and above come with COVID-19 coverage and different levels of deductible options.
It also comes with a retirement option which allows the policy owners to convert their deductible plan to a zero deductible plan when the Life Assured attains age 60. Or, the policy owners can opt to continue with their current deductible level to make their medical plan more affordable. Meanwhile, Plan 150 is specially designed with essential coverages which provide protection in the event of hospitalisation. However, it is also designed to be more affordable for some customers.
“Now that we are preparing to live with the COVID-19 in an endemic phase, we need to make changes to our future plans and be as adaptive as we can in unpredictable situations. As everyone has different needs, we developed Allianz UltimateLink which allows customers to customise their protection coverage based on their needs and means. As for HealthInsured, it was created with different deductible options that can complement existing medical coverage one already has,” Allianz Life Chief Executive Officer, Charles Ong, said.
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