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Getting fitter, being more organised, saving more money. These are just are some of the most commonly thought of New Year’s resolution. Yet, how many of us can maintain that goal for a year? 

Most often people opt for result-based resolutions, because that's how we measure success and always will. However, imagine a resolution that you only need to make once, put in minimal physical effort and probably revisit 365 days later at best. Sounds too good to be true and it is. Buying insurance is hardly a popular resolution, but that changes when you see it as a long-term commitment towards your future.   

"Cost of living is on the rise and so you try and trim the fat where you can. The first things to take a hit is your insurance and savings for retirement because it frees up a couple of hundred ringgit which can be channeled into one of your six financial management jars for daily expenses, savings or play. But why not set up a seventh jar for insurance. So instead of splurging 200 ringgit on something nice for yourself, commit to your future self and secure a plan that looks after you and your loved ones," said Joseph Gross, Chief Executive Officer for Allianz Life Insurance Malaysia Berhad. 

Here are three smart insurance resolutions for each generation to make ahead of 2017: 

Generation Y (those born between 1980-1995) 
A unique mix of demographics that at its oldest is at 36 years, Gen Ys includes those with young families, career-driven singles or fresh graduates. Most are slaves to their student/car loans, are concerned with paying rent on time and enjoying nice little getaways twice a year. You may have been putting off buying life insurance year after year. Consider getting a small term-policy that covers your basic needs - critical illness, hospitalisation and surgical, personal accident and more. It would probably set you back about 100-200 ringgit a month, but you will never regret doing it while you were young. Besides that, the policy would offer some financial relief to cover loans and other incurred cost should something untoward happen to you.

Generation X (those born between 1965-1979)
Currently aged between 37-51, you now probably have long list of responsibilities that includes a spouse, 2.5 children and a decent-sized housing loan. Premature death or disability would certainly place your loved ones in financial hardship. Gen-Xs should look into to term life insurances that ensures income replacement which would alleviate some financial burden when your family as they adjust from being a dual income to a single income household. When considering term life insurance plans, take into account your current lifestyle as well as any unexpected expenses that may occur in the future. Alternatively, if you are looking into retirement, look for a retirement plan that offers a multiple retirement income option and flexible premium payment options such as the Allianz Retire Plus which offers payout at 6, 10, 15 and 20 years so that you can retire on your own terms and enjoy it to the fullest.

The Baby Boomers (those born between 1946-1964)  
Looking towards living out your twilight years in comfort, Baby Boomers should be looking into reviewing your existing policies and tying up loose ends. That means making sure your debts are taken care of and that your beneficiaries are up-to-date. With that said, if you do not have one in place, assess your needs and look into setting up a retirement fund or legacy plan such as the Allianz Premier Link which offers a minimum sum assured of RM 500,000 and works towards and securing your legacy and your family's future. The plan offers coverage of up to RM 4 million for total and permanent disability and up 100 years old.      

To learn out more about the Allianz products, visit the Allianz corporate website at www.allianz.com.my or contact the Allianz Customer Service Associates at 1-300-88-1028 or by email at CustomerExperienceCentre@allianz.com.my. 

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