Allianz Life launches Allianz PrimeCover, the first plan that combines death, TPD and CI income in one plan
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Allianz Life Insurance Malaysia Berhad (Allianz Life) has launched a new premium investment-linked insurance plan (ILP) Allianz PrimeCover.
It is the first protection plan in the market that combines death, total & permanent disability (TPD) and critical illness (CI) income under one plan. Allianz PrimeCover comes with three choices of premium payment term namely six-pay (six-year premium payment term), 10-pay and full-pay with coverage term of up to age 60, 70, 80 or 100.
The minimum sum assured for this plan is RM500,000 for a person whose age is 50 and below, while RM350,000 for a person whose age is 51 and above.
Allianz Life Chief Executive Officer, Joseph Gross said this product targets customers who are seeking high insurance protection during their income productive years while planning for their financial legacy for the next generation.
“Allianz PrimeCover aims to provide protection for the life assured and his/her family in the event of mishaps. If the life assured dies or is diagnosed with TPD, the family would be financially stable to move on in life. Although the premiums are affordable, the plan assures life protection of up to tripled the insured amount or the account value, whichever is higher.
“Buyers, at point of sales, can also enjoy the flexibility to choose the premium payment term and coverage term which suit their needs and financial situation,” he said.
Allianz PrimeCover provides CI income for three years in the event the life assured is diagnosed with a critical illness, allowing them to focus on their recovery.
It also has Prime Booster benefit, which pays an amount equivalent to 1.5% of the basic sum assured into the policy once every five years starting from policy year 20 or age 60, whichever is later. This helps to build up the account value to achieve more savings for legacy purposes.
In conjunction with this new product’s launch, Allianz Life will be launching two campaigns, namely the Cash Bonus and Complimentary Sum Assured campaigns. The campaigns are only eligible for the full-pay plan.
Under the Cash Bonus campaign, a one-month basic premium will be given back to eligible customers by crediting the amount into the policy. On the other hand, the Complimentary Sum Assured campaign offers a complimentary 10% basic sum assured on death/TPD coverage until maturity. Both these campaigns are subject to their respective terms and conditions.
Customers who are interested in this new plan from Allianz Life, as well as the campaigns, may speak to their respective Allianz Life agents to find out more.
For further enquiries, kindly contact Allianz Malaysia Berhad via email@example.com or at 1-300-22-5542, from Monday to Friday between 8.00am to 8.00pm.