Allianz Life Insurance Malaysia Berhad (Allianz Life) has launched Allianz Legacy Plus, a plan which was crafted with the aim of securing our customer’s legacy for their loved ones.
Allianz Legacy Plus is a limited-pay, universal life plan which covers policyholders up to the age of 88 years. Should the policyholder pass on during the policy term, the money will be paid to the next of kin and this will serve as the legacy from the policyholder. In addition, should the policyholder survive up to age 88, he/she will receive the money which then can also be given to the loved ones as a gift. Thus, the policyholder will always be able to pass on their legacy to their loved ones.
Allianz Life Chief Executive Officer Charles Ong said that with Allianz Legacy Plus, a customer‘s legacy will always be secured and unaffected by market volatility.
“Post-COVID-19, we learnt that life is unpredictable and we should be prepared for any eventualities. We realised that customers want more certainty out of their policy while not wanting to commit to a long period in terms of premium payment, as anything can happen, at any time.
“As such, we introduced Allianz Legacy Plus which has a short premium commitment period, allowing our customers to lock in their legacy without long term payments. In addition, there is a guaranteed payout* for the insured amount and the coverage continues regardless of market conditions,” Charles said.
What’s more, in fighting inflation, the policyholder’s insured amount will increase automatically, starting from Policy Year 21 onwards, at prescribed interval. At the same time, the loyalty bonus will allow the insured’s wealth to grow and flourish through the years, with 0.5% of the account value credited into the policy every year, starting from Policy Year 21, until the policy matures.
“This product is also suitable for business owners who want to create an instant legacy for their loved ones without impacting important cash flow liquidity for the business. With this protection plan, we are providing our customers with a chance to write their own legacy,” Charles said.